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<br /> "�j 5.Hazard nr Pruperty Insu�ance. Burrowcr shall k�cp thc improvcmcn4s now exisung on c�rcaftcr crcctcd on thc Property
<br /> i insurcd aE�uinst loss by I'irc, hur.tuds indudcd within thc tcrm "extcndcd covcrugc" und uny othcr h�u.suds, including tloods or(�
<br /> � Iloaciing,for which L,endcr rcciuucs insurancc.'1'his msur;uicc shull tx:muiutuinud in Qic:unounGS und for thc periads thttt LcndcrCJ� t.'
<br /> �., ....�� I requires.The uisurance currier providing the insurunce sh�ll be chasen by Borrower subjecl w L.ender's approval which shali not � �l
<br /> � bc unrc�asonably withhcld. If Barrowcr fails to muinuun covcragc dcscribed abovc, Lcndcr rnuy, at Lcndcr's option, obtairi�� >•_.
<br /> � covcru�c to protect Lcndcr's righis in thc Propcny in accarduncc with parugraph 7. ` '_
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<br /> ; All insurunce policics and renewals shull be ucccptable to Lendcr and shall include u standard mortgagc clause.Lender shal
<br /> ' have the right to hold thu policies and renewuls. If L.cnder requires,Sarrower shall prompAy givc to I.endcr ull rcccipts of pai ���
<br /> premiums and rencwal nouccs.In the event of lass,Borrowcr sh�ul givc prompt noucc to the insurance canier�nd I.endcr.L.cndc �'�
<br /> muy makc proof of loss if not madc prompdy by Borrowcr. -
<br /> • Unless Lcndcr and Aanowcr othcrwisc agrcc in wriang, insuruncc prcxceds shall bc applicd to restoration or rcpuir of the
<br /> Property damaged,if the restorauon or repair is economicully feusible und L.ender's security is not lessened. If the reswrauon or
<br /> � � rcpuir is nat cc:anomicully Ccasiblc ar Lendcr's sccuriry would bc Icsscncci,�hc insuruncc procccds shull bc applicd to 4tic sums
<br /> scc:ured by this Sccurity lnstrumcnt, whcthcr or not thcn duc, with uny cxcc�s puid to Borrowcr. If Borrowcr nbandons thc
<br /> Property,or does not answcr within 30 ciays a noticc Crom Lcndcr thAt thc insurancc curricr h�s offcrcd w sctdc a claim, thcn
<br /> I..ender may collect the insurance procceds.Lender may use the proceeds to repair or restare�he Propeny or lo puy sums secur�.d
<br /> by this Security Instrumcnt,whether or not then duc.Thc 30-day period will bcgin when thr,noqcc is given.
<br /> Unless Lcnder and Borrowcr othcnvisc agrce in writing.any applicuuon o[procecds to principal shall not cxtcnd or postponc �s
<br /> �{ ' thc due datc of the monthly paymen�s referred to in paragraphs 1 and 2 or change thc amaunt of thc paymcnts.If under parugraph F�-
<br /> '. 21 thc Property is ucquired by i.cndcr, Barrowcr's right to uny insuruncc policics and procccds resulung from dumugc to ihc �`_
<br /> Property prior to thc acquisition shall puss to Lcndcr w Ihc cxtcnt a!'lhc sums sc,�:ured by Ihis Scc:urity Insuumcnt immcdiatcly ___
<br /> �• prior to thc acquisition. ==
<br /> 6.Occupancy,Preservution,Maintenance and Protectton uf the Property; Borrower's Loan Application;I.easeholds.
<br /> �, Bonowcr shaq occupy,cswblish,t►nd usc thc Property us Bonowcr's principal residcncc within sixty days uftcr�hc cxccuaon of
<br /> this Security Instrumcnt und shull continuc to occupy thc Property ns Borrowcr's principal residence for ut least one yeur t�ftcr thc
<br /> _i dute of occupancy, unless Lender otherwise ugrees in wriang, which consent shuU no� be unreuconably withheld, or unless
<br /> `� cxtcnuat�ng circumstances cxist which urc bcyand Borrowcr's conuoi. Borso�vcr shulI iwt dasir�y,3ama�:,ar impsir thc Pro�rty.
<br /> a allow the Property to deterioratc, or cammit wuste on the Propcny. Bonower shall be in default if any forfeiture action or
<br /> J�; pracceding,whcthcr civil or criminal,is begun that in Lcndcr's Sood failh judgmcnt cauld result in forfeiturc of the Property or
<br /> � �� otherwise materially impnir the lien created b.y this Security Insuument ar Lender's security interesG Boaower may cure such u
<br /> � default und reinstate, as provided in paragraph 18,by causing the action ar pracceding to be dismissed with a ruling that,in
<br /> Lcndcr's gaxi faith detcrmintttion,prccludes forfciturc of thc Bonower's interest in the Property or othcr material impt►irmcnt of
<br /> the lien creatcd by this Security Insuument or Lender's security interest.Barrower shall also be in de(ault if Sonower,during tho
<br /> loun application process,gavc matcrially [alsc or inaccurAtc informution or s�at.cmcnts w Lcndcr(or tniled to providc Lcnder wIth
<br /> any mutcrial information) in conncction with thc loun cvidcnccd by thc Notc, including, but not limited to, rcprescntations
<br /> concerning Borrower's occupancy of the Propeny us a prin::ip�l residence.If d�is Security lnstrument is on a leasehold.Borrower
<br /> shuli comply with ull thc provisions of lhe Icusc.Il'Borrowcr ucquires(ce pde to the Property, the leasehold and the fee tiUe shall
<br /> not mcrgc unless Lcndcr agrccs to thc mcrgcr in writin�.
<br /> � 7.Protection of Lender's Right�in the Pruperty. If Borrowcr fails to perform the covcnants and ugrcemcnts contttined in
<br /> � this Security Insaument, or there is n legal proceeding thut muy significantly affect Lcnder's rights in the Propeny (such us u �._
<br /> � procccding in bankruptcy,probatc,Cor condcmnauon or forCciwrc or to en[acc laws or rcguluuons),then Lcndcr may do und pay �� _
<br /> ` tor whatever is necessary to protect the vulue of the Property und Lender's rights in thc Propeny. Lender's acaons may inciudc
<br /> �;, paying uny sums sccurcd by u licn whic:� hus priority ovcr this Sccurity Instrumcnt, t�ppearing in court,paying re�sonable
<br /> '� uttomcys' fces and cntcring on thc Prc�perry to mukc rr,puin.Although Lcndcr may takc uction undcr this para�raph 7,L.cndcr
<br /> � docs not havc to do so.
<br /> �, Any umounts disburscd by L.cndcr undcr!his puragruph 7 shall bccornc addiuonal dcbt of Borrowcr sec;urcd by this Scc:urity �,�;
<br /> + instrumcnt. Unlcss Borrowcr and Lcndcr abrcc to othcr tcrms ol'paymcni, thcsc umountti shnll txar intcrest trom thc dutc of —
<br /> ' disbursement at thc Notc rutc und shull bc puyublc,with intcrest,upon noticc Irom Lcndcr to Bonowcr rcqucsung payment. � =
<br /> : 8.Murt�u Pe Insurence. If Lender reyuircd mor[gagc insu�wicc as u conJivan of m:ilcin�;V��luan secured by this Scc:urity
<br /> � [nstrumcnt, Sorrowcr shull pay thc prcmiums rcyuircd to maintuin thc mortgubc insurnncc in c f fcct. I f, for a ny r c a s o n, t h c
<br /> y mortgagc insurancc covcragc rcqu'ucd by Lcndcr lapscs or ccusa ta bc in cl'fcct. Bonowcr shall pay thc prcmiums rccluircd to '
<br /> , obtain covcragc substanuully cyuivulcnt to thc mongagc insuranrc prcviously in effec:t, �t a cos[ substunuupy equiv�lcnt to thc
<br /> cost to Bonowcr of thc mortgagc insurancc prcvfously in cffcct, from an ul�cmatc mortgagc insurcr upprovcd by Lcndcr. If
<br /> substu�ivally cyuivalcnt mongugc insurancc covcrugc is not avuiluble,Bonawcr shall puy to Lcndcr cach month a sum cquul to
<br /> onc-twclfth of thc ycurly mortgagc insurancc prcmium bcing puid by Bc�nowcr whcn thc:insuruncc covcrugc lupsccl or ccascd to
<br /> bc in cffut. Lcndcr will ucccpt, usc und retain thcsc paymcn4.as u Ic�ss rescrvc in licu of mortgagc insurancc. Lc>ss rescrvc
<br /> Form 3028 9�90 �
<br /> •F,R(NE)roz+z�o, rago�o�o i����ais i
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