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<br /> ,. , ' S.Huard or Property Insu�:._�z. Boirower sl�all keep the improvements nd"w:y"�cistmg or hereafter e�on the Property
<br /> . ' • insured againsc lnsg by fire,haZards mcluded witiun the te:m extended covc�age"aad any othea haaards,mctuding IIoods or , , , . .
<br /> '. - . Raoding.for which Lendea requires uisuiance.This ins�trance shall be maintained'm the amounts and for the p�iods that Lender - �.
<br /> � t``-:.—: reqrnres.'Ihe insurance�providing the insuiance s6all be chose,n by Bormwer sub}ect to Leader's approval which shall not -°�.'s
<br /> ' be unr�asonably withhetd. If Bonower fails tn maamtain coverage descd6ed a6ove, Leader may, at Le�►der's op8on,ob�ain - -- ----. -
<br /> � wveiage w pmtect Le�dds rights in the Pmpelty m axordaace with pa:agraph 7. ' , ,
<br /> All insmance policics and renewals shall be accepmbls w Irnder and shall inclnde a standard moitgage ctause.Lendet shall . .. _.
<br /> ` 6ave the right to hotd We po}icies and reaewajs.If Lender ceq�aes.Bonower shall pxomptly give m L.endea all ieceigts of paid _ .
<br /> . premiums and reuewal norices.In the event of loss.Boirower shall give prompt notice w the ias��rance c�rrier and I.ender.Le,�dea - ;
<br /> ' �� may make pt�of of ioss if nat made prompdy by Hormwer. ' � '� � ,�
<br /> .r .� �;.�- -
<br /> . _ ; UWes9 Lender and Bonower othPrvvise agree in writing,insazance pioceeds shall be applied to rest�arion ar repa"a of the �`. ;;-._y;
<br /> , , �r pmpeaty damagetl,if the�on or�pau is economiraUy feas�le�d Lend�'s security is not Ie,sseaed if the resto�ation or � ',
<br /> ` s �ep�is not economically feasible or Leuder's s�urity wonld be te.ssened,the insurance pmceeds shall be apptied to the snms . . '<;�c-=`
<br /> • serared by this Seauity Inst�ament,whethea or not thea�due,with any exccss paid to Boaowes If Baaowa abanduas the . `...-."
<br /> propaty,or daes aot answa aithm 30 days a notice fmm Leader that the ins�uance s�niea izas offeaed tn settte a claim.thw ' :_:
<br /> � `� I.ender may wllect the ins�rance pmceed.A Lender may nse the proceeds tn repair or testore dee Ymgerty or w pay sums secared � `;l;,.�._
<br /> by this Security Inst�ument,whether or aot then due.'Ihe 3�-day period�an'II begin wl�the notice is givea. • • , "`�;_�
<br /> ' ) Un1es4 I.aader and Barmwea oth�wise agree m wii�ting,aaY aPPlis�aan of praoeeds m principai shall not exteud or p�stpone ' ,f ..,:' -,�+:�,•�-;
<br />_ . ,•.:•i. �� , ,:. ., .���
<br /> the dus daie of the mand�ly paymeuts referred m in pardgcaphs 1 aud 2 or change it�e amamit of the paymmts.If�mder pa�gtapb . . �.
<br /> �` 21 the Pmpercy is acquired BY Lendr,r,Bormwer's right to any msarance policies and ceeds r�vItin fmm damage to the �r--�
<br /> Pro & I �«.�i�..
<br /> � . :'� Propeaty prior to the acquisipnn shall pass w Leader to the ext�t of the sams serured by this Seauity Instrament immediately .. , ��._n- '
<br /> � ptinr to ihe acqa�tion. �. .. �� '=..�=�;
<br /> '� 6.Oavpancy.Pres�svattoa,Maintenauce and Protectton ut ffie Property; Borrower's Loan AppHcation;Leaseholds. '.:t�`:z��"��
<br /> .•�....
<br /> ` ` Bomow�shall accQpy,estabtish,and use the Pcoperty ac Borrowea's principai residencc withia sixty days afica the ea�on of .,y: • °�f�'.;?
<br /> ' thiS Secarity Instrument and shaU conomue to the Propeaty aS Botrower's prmcipal residence for ai least one yeaz aftea the -��>•
<br /> �PY ,:. a:;=�'-=:
<br /> ' datc of accapancy, �mte�Lender otherwise agre�s �writing. wtuch consent shall not be uareasonably withheid.or ualess :,. � ; .i,�;;
<br />- � extenuacing c�nces exist which ate beyond Bolrowex's canuol Boaowea shall not destroy.dawage or�nnpanr the propedty, ': '���-
<br /> s�,•�.a.y_.
<br /> . allow the Pmpe�cty Lo detraiosate,or commit was0e oa We Propeaty. Boaawa shall be in defaWt if any foifeume action ar `�- % ��'�;'�;�--.r�-
<br /> pmceEding,whetha civ7 or criminal,is 1�e8an that u�Lender's good faitb judgment cauld result in forfeium of the Pmpeaty or :'��
<br /> '; �.,—
<br /> otheiwLse mateaially impair the lien created by this Seciuity 1ns�umeat or Lendea's secauity interes�Bosmwer may c;�e such a . ",.:;,,�.
<br /> � defauk and�s�,as p�O�ded in pa�aph 18,by�mg the action or prnceedia�w be di�missed wittih a niling that,ia . :;��"r�'�':
<br /> Lendda ood faith det�ination,precludees forfeauire of the Borrower's inter�st in the Propaty or other mateaial impanment of ,; ��,..
<br /> u s
<br /> ' � We tie,n created by this Sac�uity Inslrumeat ar I.�d�r's security interest Surcow�sbaU also bc iu d:.f:,c:t if Borm�ea,durlag the �,�'�`— �i'�
<br /> .: "�z:
<br /> Ioaa applit�tinn piocess,gave tnaterially fatse or i��accivate infomiation or s►atements W L�ader(or fa�ed to provide Lender with .': ;�:���--.-
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<br /> . any mater3al infom�ation) in conaection witb the Ioan evidenced by the Note, including,but not limited w, representa8ons •. • • :�..��
<br /> •,�x:__;
<br /> • conceming Borrow�'s occupaacy of the Proparty as a prinapal residence.If this Se�auity 1ns�m�ent is on a lea.sehold,Bormwer ; ,: : �:•-
<br /> rty
<br /> shall camply with all the pmvi�nns of the lease.If Borrow�acquires fee ade to the Pmp�rty,the�sehold and the fee titie shall , � .` ���-
<br /> � not ra�ge untess i.ender agrces w the merger in wridng. , °���',:.
<br /> 7.Protcction ot l.euder's Itights in the Property. If Boirower faiLs w perfom►the covenanis and ag�cements contained in • •. �-.
<br /> • , tbis Sea�rity Instrument,ar there is a 1ega1 praceeding that may sig�ificantly affoct Lenda's rights in the proPertY(such as a _
<br /> praceed'mg a�bantauptcy.probate.for condemnatian or forfeiture or to enforce laws or regulations),then Lender may do aud pay ;
<br /> . . � � far whateva is necessary►w protect the vaWe of the Ropeaty and Lendca's rights in the Propeny.Leadea's actions may include .
<br /> ' � j P�� �Y sums sec�ed by a lien which has priority aver this Securiry Instrumenb aDF�B in co�t,PaYmS reasonable . .. -
<br /> aitomeys' fees and en-�sng on the Propeny to make repairs.Although Lender aaay tzke acdon unded this P�AaDh 7,Lender -- --- -
<br /> daes not have to do so. � ' � • � �
<br /> , � My amoants disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secuned by this Security - . . . . .
<br /> . ' Instrum��.Unless Banowea and Lesder agree to other telms of payma�t,these amounts shall bear interesc from the date of . • .
<br /> disb�usement ai the Note iatc and shall be yayable,arith interest.upon notice&om Lendea to Borrower requesung payment ' . ' `' .
<br /> �.Mortgage Insarance. If I.ender required mortgage insurance as a condldon of making the loan secured by this Security . �
<br /> ,' . . Instnunent, Borrower shall pay the premiums rcquircd to maintain the mongagc insurance in effec� If, for any reason, the . . �
<br /> . mortgage insurance coverage reqnired by Lender lapses or ceases w be in effect,Borrower shall pay the prcaniums resqa��ed to '
<br /> obtair�wverage substantially etiuivalent to the mortgage ins�rance previously in effect,at a cost substantiaUy equivalent to the •. •
<br /> cost tn Borrower of the mortgage insurance previously in effect,fram an altemate mortgage insurer approved by Lender. If • ' .
<br /> �� substantially equivalent mortgage insnrance coverage is not available,Borrower shall pay to Lea�der each month a sum equal to ,
<br /> S on�twelfth of the ye�iy mortgage insurance premium being paid by Borrower when the insnrance coverage lapsed or ceased to
<br /> � be in effect Lender will accept, use and retain ihese payments as a toss resenre in lieu of mortgage insurance.Lass reserve .
<br /> ' Form 3028 8/90
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