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<br /> 5.Hazar+d or Fruperty Insurance. Boarowei shall�eep the improvcmcnts now exisung or hereafter erected on the Property � � ' � ' ;'��,•
<br /> � ins�ed ngainst tns4 by fue, harards included within ihe team "eatended ooverage" and any other harards. including floods oz i '. ,' . y
<br /> Roodins.for whict�Lender requires insurence.This insurancc shall be raaintained in the atrcounts and for the petiods tl�ai Lender t ' _
<br /> � requires.The iasurance cazrier providing the insurzsnce shall be chasr,n by Hotrower subject m l.ender's approval which shafl not � , • • . _
<br /> be �tnr�nably withheld. If Borrower fails to mainrain wvaage descn'bed above, l.ender may, at Lender's op�on,obtain j � . _ • r ` -_
<br /> coverage tn protect Lender's rights in the Pcoperty in acrnrdance with paragraph 7. . �. �
<br /> ' All ins�uance polirirs and renewaLs shall be�cceptable ro Lender and shall includc a standard mortgage clause.Lender shall ' , . ,. • . .
<br /> ;-_. 6ave the rigQet ro hold the policies 2nd rer�ewals.If Lea�r rrquires,Horrowcr shall promPUl►give to Leader all reoeipts of paid . --- - "—
<br /> ,; preasiums an�reneaal notires.In th�cvent of loss.Borrower shall give prnmpt notice tfl the insvranoe cairier and LcAder.Lender ' ` ,• � �
<br /> may make proof of loss if nnt wade prompUy hy Bormwea. � ' _ . • �
<br /> Unless Lrader and Bomowe�osherwise agree in weiting. insurance�aoc�ds shall be applied to reswration or repair of the . .' � .
<br /> . �P�Y�Sed,it the reswration ar repair is ecanamically feauble and I�ender's ses�rity is not lessened.If che rest�atian or ' . . '',
<br /> re,pas is not economicaliy fea�'bie or Leadei's seciuity would be lesseaed,ibs insuraysce proceEds s6all be applied tn the sums •• .
<br /> sec�red by tbis Security Ins�m�t, whether or aot tl�en due.aith any excess paid to Borrower. 1f BoTrower abandons the • • ' •
<br /> -� • '�t� �
<br /> . � Fro�oeity.or dces not answer within 30 days a aotice fmm Lender that the insurance ca�rier Qas off'emA to settlte a ctaim,Wen �� • .
<br /> Leudei may collect the insurance procee�s.[.eades may nse th$proceeds tn regair or rest�re the Propeaty or tfl pay sums sxured ' . - -
<br /> + by this Sear�ity Instrurrc�t,whether or not the�dus.'IUe 30-day period w�l begin wheu the notice is�ven. � .,,,..�=_-
<br /> � � UnZess Leader and Horrower othera+ise agreE in�vriting,aiay applis�tifln of proceeds to principal shali aai eatend or postpone . ° -�3"`
<br /> • the due date of the monthlY FaYments refened tn in paiagtap6s 1 and 2 or cha.nge the amount of the paymeats.If under�aragaph , .` rFA.". '
<br /> 21 tLe Property is acquired by L�eder.Borrower's dghi to aay iasurance 19olicie.c and procceds resulang finm damage w the . #�'�-�.,..�_
<br /> � �P�'�+'�Y P��she arqiilsition sdald pass to Lender to We eatent of[he sums secured by this Security Instrument immediatety '�'�
<br /> . prior to the acqui.�tion. , , '' ��'��'::� --
<br /> .' 6.OcWPu�c9.Pr+eservu�n,Matateaance and Proierdaa o!the Property: Borrower's Law Apptls�tlon.i.ease6�aids. .--_-- -'z�;�-
<br /> Barmwer shall occupy,eaKablish,and use tt�e Propeaty as BoJmwer's pruKipal reside.nce witLin sixty days after the executinn af ' ' .';��. �
<br /> dus Sec�uity Iasu�meni and shall cantanue tn occupy the Pmpe:ty as Borroaer's principal residenre far ai least ane gear after th$ �� �
<br /> ' daie of acc�pancy.unless Lemdu oth�rvrise agrees ia writi�g,which cansent shall aot be urueasonably withheld, or unisss ' . ' . �� �i . -
<br /> extenuating cinemnsmuce,v eaist whicb are beyond Borrower's cantroL Borroaer shall nat desocoy.dama�e or impair the Propeity, ' ,.�."!l.� `
<br /> . a11na+ the Yrspeaty to detraiorate,or cammit waste on the Piopaty. Baaower shatl be in default if any forfeitare a�tion or •-
<br /> ''�:"�"�*: ,,,.
<br /> � pmcceding,whettter civil or criminal,is begun that in L.eaida's gaad faith judgment cauld resvlt in forfeiwse of the Property or � �-
<br /> . otheawise matrrialiy impau the Gen cmared by this Sec�uiry Instnmieut or Iender's security int�t.Borrower may cure sucb a � �
<br /> ;��'� default and reinstate.as provided in pa�agrapb 18,by qusing the action or proceeding tn be dismissed wiih a niling that,in �.,�. �"•�
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<br /> ��� Lender's good faith dete�mination,precludes forfeiuue of the Boirowea's intrtest in the Propcsty ar othea material impairment of � �
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<br /> ` i tde liea cr�ed by this Secar+.ty�9nst�ament or Leuder's secwity iuter�st.Borrower shall also be in default if Borrowa,during the , • . '`' • ; .
<br /> ..� tnaa.ay�plicziion process,��mm�ially false or ina.ccurate in€oruiation or sFatements w Lender(or faileA w pmvide L,eader with ;:^, . , +. -
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<br /> ' �a;s; ma;eiial info�arion)u� caruleaion�vuh the toan evideuced b the Note, inctudin . but aoi timited to, repres�ntations sE ; _
<br />. �s; Y g . ���aii�.�,► .• �
<br />-,.�,'',__� ooncem�g E2�cccr's occupamy of the Yropeny as a piincipal residence.If this Sect�rity Instrument is on a Ieasehold,Borsower _ � �, � '
<br /> _ shaIl oampl�►w:ir a;J.�ie pmvisions of the tease.If Borrawea acc�uiies fee title W tha Propeaty.the lease�old and the fee dde shall �.j�`.� _�
<br /> nat merge andess I.end�agrers tn the merger�writing. ��'•'�_..
<br /> 3.Pnatection of I.ead¢a°s E�igh�in the Properiy. �f Borrower fa�7s to pecform the covenants and agreemcn�contained'm - :.;,ae �
<br /> . th:s Sec�uity L�strument,or theae is a IeB�0�8 t6as may agnifpntly affect Lender's rights in the Pmg�Y(such as a °'� ��' ��g_.
<br /> F�����P�Y.D�bate,for condemnatian or farfeit�e ar tn e�afoYCe laws or re�ulations).then Leader esday do and pay �•::��—.'�.�-...
<br /> � for wliatevea is necessary to protect the value of the Property and Lender's rights in the Propeny.Lender's aarons may include � ' -�L:_,°�
<br /> ' ��=• ---- --.-
<br /> :; PayinB any sums secuied by a lien which l�as priority over this Sea�ity Insuument,appearing m coiut.Pay�B reasonable �
<br /> .• �meys' fees aad enteiing on the Pruperty w malce repairs. Atthough Lendea may take action under this paragraph 7,I,ender Y-,�.,��,,.��:�
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<br /> does not have w do so.
<br /> �� Any amo�,s disbnzsed by l,ender under this paragraph 7 shall became additional debi of Borrower sec�ued by this Secarity :'�!"�
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<br /> "`,s`� Instrument Unless Borrowea a�d Lendea agee m other trams of payrtcent,these amounts shall b�a interest fmm the date of • ��
<br />.���`•�`7; disbwsement at the Note iate and shall be payable.with interest,upon notice from Lend�to Boaowes cequestinB Papmra�� ;;,-'�_
<br /> � 8.Mortg�ge Iasurauce. If L�der required mongage insu�rance a�a condidon of making the laan seaued by this Security '�� •-� � °
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<br /> Instrumen6 Ho�rower shall gay the premiums required w maintain the mortgage ins�uance in effect If, far a,:.y reason,the s ' �, . '.' . �
<br /> ' mortgage insurarv�..e coverage required b9 3,euder lapses ar ceases tn be in effecx,Boimwer shall pag d:,s p�ums required� 1"��� ��—
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<br /> '`r` obrain coverage substantially equivate:¢��;fhe mortgage iosuranoe previ�asly in eff y eg� - -
<br /> ect.at a cost�ti�.�tial� a,.ivaient tn� ='�'�x�?'�'�;;,.��--
<br /> cast to BarroRC�of the aca�ge ins�ce previonsly in effect.frar>� �alternate mortgage ins�er appmvcd �}r Lendea. f�ff ,,,�,�. ..��:�q.;.�-�:.-
<br /> ' � snbs�ntialty equivalent ma � �ins�uance wvera e is not available.Borrower shall .• �•... s°' '
<br /> , �'S�3 g PaY to Lender each monrtt��m equal to i;`;;.;. .�. �., . :_ -....
<br /> . on�twelfth of the yearIIy mr,s.T;�ge insiumice premium being paid by Boirowe.r when the insurartce covetage lapsed or ceased t,� :",; -•-+;���-��--�-,.---
<br /> ��`'. be in effec� La¢der wi:l�,�+1,use a�retain these paymeaus as a loss reserve in lieu of mortgage insurance.I.oss rese�v� � _ � .
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<br /> � Form 3028 8/90 . -
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