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<br /> • 5.Ha•r.�rd or Property insurxncr. Borrowcr shall kecp thc improvemcnG4 now existing on c�rcaiter crected on thc Property �`.
<br /> insurcd ugatnst loss by firc,har�rds included within thc tcrm "extcnded coveragc" and any othcr hazerds,including Iloads ar � _—
<br /> floo�ing,for which L.cndcr rcquires insurancc.This insurancc shaU bc maintaincd in thc amoun�s und far thc periods that I-cndcr Op .. --
<br /> ., .� rec�uires.The lnsurance carrier providing the insurance shull be chosen by Borrpa�v��Lcnder may rat L,ender s ption hobtain F.► �
<br /> � bc unrcasonably withhcld. If Borrower fuils to mt►iir►tain covcragc dcscnbcd �.
<br /> caverage to protect Lender's righ�s in the Property in accordance with ps�raBrnPh 7.
<br /> All insurancc policic.4 and renewals shall bc acecptablc to Lcndcr and shall includc a standtu c���dcr all rccoiptsd of paid Q � -
<br /> havc thc right to hold thc policics�►�vcnt f ossf Borrowcr�shall�ic�p onpt nodcc wnthc nsurancecarricrandLendcr.Lcndcr� --
<br /> prcmiums and renewal nouccs. in th _
<br /> , may makc proof of loss If not msde promptly by Borrowcr.
<br /> Unless Lender and Borrowcr otherwisc agrce in writu►8.insurancc procecds shall be applicd to restoradon or repair of the
<br /> , property dHmaged,if the restoration or repair is economicaUy feasible and Lender's security is not lessened.If the restoraqon or -
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<br /> � rcpair is not cconomically fcasiblc or i.vnder's security would be lessened,thc insurance proceeds shall bc applied w the sums
<br /> secumd by this Security Instrument, whether or not then due, with any excess paid to Borrower.If Bortower abandona the ..,�
<br /> Property,or docs not answer within 3Q days a noticc from I.cnder that thc insurance carricr has affered to scule a claim,thcn �.
<br /> ` Lender may collect the insurance prcxeeds.L.ender may use the proceeds to repair or restore the Propercy or to pay sums secured
<br /> ' by this Security lnstrument,whciher or not then due.Thc 30-day period will begin when the nodce is given. �i_�_
<br /> + lication of rocccds to princlpa'.shall not extend or postponc �
<br /> Unless Lendcr and Borrowcr otherwisc agrcc in wrian�.any app P —:-
<br /> �; the due date of the monthly payments refened to in paragraphs 1 and 2 or changc the amount of the payments.If unda paragraph �_
<br /> � 21 ihe Property is acquired by Lender, Borrower's right to a�►Y �g�'��ums secured byr th�►s Ssecuri��I°s��n�mediutely
<br /> � proporty prior to the acquisition shall pass w L.cnder w the extent of th
<br /> prior to thc acc�uisiaon.
<br /> , b.QccuNancy,Preservation,Maintenance and Protection of the Property; Borrower's l.oan AppUcation; Leaseho s.
<br /> .�• Borrower shall occupy,establish,and use the Property as Borrower's principal residencc within sixty daYs eftc�ihe execudon of
<br /> this Security Instrumcnt and shell continue to occupy the Property as Borrower's principal r�sidencc for at least one ycar aiter the
<br /> date of occupancy, unless Lender othenvise agrers in writing, which consent shall not be unreasonably withheld,or unless
<br /> .� extenuating circumstances exis�which urC ix:yord�anowcr's conuol.BB�n��er shall�be n dcfaulmlf any forfe turc acuon or
<br /> allow thc Property to detcrioratc. or commit wastc on ihc Properry.
<br /> � proceeding,whethcr civil or criminal,is bcgun that in Lcnder's good faith judgment could result in fodciduc of thc Property or �
<br /> otherwise materiaUy impair the lien cresited by this Security Instrument or Lender's secwity interes�Borrower may cure such a
<br /> � default and reinstau:.as providcd in parab*raPh 18,by causing thc action or procecding to be dismissed with a ruling that,in �
<br /> Lcndcr's good faith determinatinn.precludes Forfciturc of the Borrawer's interest in the Property or other material impairment of �G
<br /> + the Gen created by this Securjry Instrument or Lender's security interesG Borrower shtill also be in default if Bonower,dudng the ��
<br /> ioan applicadon process,gavc materially fnlsc or inaccurace information or statements to Lendcr(or failed to provide Lender with _
<br /> any materiel inforcnadon) in connection with the loan evidenceci by the Note, includ'uig, but not limited to,representations
<br /> conceming Borrower's occupancy of the Property as a principal residence.If this Securiry Instrument is o��a ieasehold,Borrower —
<br /> shall comply with all the provisions of thc Icase.Ii Borrowcr acquires fec dtle to t�c PropertY.the icaschold and the fee dtle shall ��.
<br /> not mergc unless Lendcc agrees tn the mergcr in wricinB•
<br /> 7.Prntection of Lender's Rights in the Praperty. If Borrower fails to perform the covenants and agreements contained in r
<br /> ;� this Security Instrument,or there is a Iegal proceeding that may significantly affect Lender's rights in the Property(such as a �_r _ _
<br /> ! procceding in bankrupu:y,probate,for condemnation or fodriture or to enforce laws or regulauons).then Lcnder may do and pay �,,--^
<br /> for whatever is neces.gary to protect t�►e valuc of ihe Properry and Lender's rlghts in the Propercy.�°caturt�paying reasonable _
<br /> paying any sums secured by a lien which has priority over this Securiry Instrumcnt, appear► S h ?�L.ender _--
<br /> auomcys' fees and entering on the Property to makc repairs.Although Lender may take action under this paragrap __
<br /> docs not havc to do so. ___
<br /> Any amounts disburscd by Lcndcr undcr this paragraph 7 shall bccomc additional debt of Borrowcr sccurcd by this Security _ —
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<br /> InstrumenG Unlcss Bonowcr und Lcndcr agrcc to othcr terms of payment,these amounts shall bcar intcrest from the date of , E.�`r_
<br /> disbursement at the Note rat�e and shall be payable,with interest,upon nodce from Lender to Borrower nqucsting paymen� �----�
<br /> 8.Mortgage Insurance. If Lender required mortga�e insurance as a condidon af making the loan secured bY this Security �s'�,.
<br /> Instrument, Borrowcr shall pay thc prcmiums rcqu¢cd to maintaiu ihc mortgagc insurancc in cffcct. If, fa any rcason, thc _
<br /> • mortgage insuranc:e coverage required by Lender lapses or ceases to be in effect,Bonower shall pay the prcmiums requued to
<br /> obtain coverage substanually cquivulent to the mortgage insurancc previously in cffcct, at a cost substanaally equivalenc to the
<br /> cost w Borrowcr of thc martgage insurancc previously in cffcct, from an altcmate mortgagc insurer approved by Lendcr. If
<br /> substantiully equivulcnt mortgage insurancc covcrnge is not availablc, Bonower shall pay to L.cndcr each monih a sum cqual ta
<br /> onc-twclfth of ihc ycarly mortgagc insurance prcmium bcing paid by Borrowcr whcn thc insurance coveragc lapscd or ccased to •��
<br /> be in effect. Lender wiil accept, use and retain these payments as a loss reserve in lieu of mortgage insurance.Loss reserve
<br /> Form 3028 �/90
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