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<br /> 5. Hazurd ��r Pro�xrly Insurnnce. Burrawer �hull kecp thc im rovements now exist' n radtcr crcctc on the .;,`
<br /> �• prupciYy insurcd uguinst la,. hy firc, hnr.urds inrludeJ within thc tcrm "cxtendcd rovcrugc" und uny othcr h�u.urds, including '��,�•:� ��_
<br /> �l�nid�nr 11�Nx1ing. for whirh I.rndrr rcquirr�in.w•sincc. Thi� imurancc tihall hr ntuintuincd in thc antounts und fur Ihc perinds ''. �`_�__ _
<br /> a'. thut [.cndcr rcquirc,. Thr insurancc rurricr proviJin�ihr in�urancc +hull hc choticn by Burruwcr ,uhjcct to I_cnJcr'ti uppruvul �,,��"!':
<br /> ��+,..�+� which +huU ne�t bc wireuscmuhly withhcld. I1'Borrawcr fuil+ tu muintain cuveruge JeticiibcJ above. L.endcr muy. ut [.endcr'ti
<br /> ,.,,..... optinn. obtain rovcrugc tu prutcct Iw�rJcr's riglns in thc Property in uccordunrc with purugraph 7. �3R--
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<br /> All insuranre policie� .�nd renewulti shull he ucceptuhle to Lender und xhull include a titandurd rix�rtguge rlause. I.encier —__
<br /> zhaU h�ve the right tu hi+ld the policics und rencwul�. If L�nJcr rcquires, anrrnwcr+hall pramptly give to Lcnder uU reccipts of -�, -
<br /> ' paid premium�und mnewul nutires. In thc event of loss. Barrawer shull give prompt notice to the insurunce currier und I.ender. �
<br /> l.ender may make prnof'c�f lass if not mude promptly by Borrowcr.
<br /> r Unles�Lender and Borrower otherwisc ugrce in writing, insurancc proceeds shall be applicd to restoration or repair��f thc
<br /> . Property damuged, if the restoration or repuir is economically fcasihle and Lender's+ecuriry is not lesseneci.If the restoration or
<br /> repair is not eronomicully feasible ur l.ender's ticcuriry would be IesseneJ, the intiurance proceeds shall be uppliecl to the sums
<br /> ,;�. securcd by chis Security Instrumcnt, whethcr or not �hen due,with uny excess puid ta Barrowcr. If Borrower abunduns the
<br /> ' Property, or does not unswer within 30 duys a notice from I.ender that the insuranee cnrrier has offered to settle u claim, then
<br /> � L.cnde:r may cullrct the inwrance proceeds. L.ender may use the proceeds to repair or mstore the Property or to pay tums ____ _
<br /> � secured by this Sccurity Instrumcnt, whcthcr ur not then due.'CIx 3q-day period will begin whe:n the notice i�given.
<br /> Unlcss Lcndcr and Barrowcr othenvise agrec in writing,any application of procceds tn principal shull not extend or
<br /> postponc the due Jute of thc monthly payments referrcd to in paragraphs I and 2 a� change the amount of the payments. If _
<br /> under puragraph 21 the Property is acyuired by Lender. Bonower's right to any insurunce policies and praceeds resulting from
<br /> Jamugc to the Propeny prior to the ucquisition shall pass to Lcnder ta thc extent of thc swns securcd by this Security Instrument
<br /> immediatcly priar to thc acqui�itinn.
<br /> , 6. Occupanry,Preservntton, Maintenance and Protection uf the Property; Borrower's I.oan Applicstion; Lcaseholds.
<br /> Borrower shall occupy,estublish,and use the Property as Borrower's principal residence within sixty duys after the execution of
<br /> this Secnrity Instrument and shall continue to occupy the Propeny as Bonawer's principal residence for at least one year after
<br /> ' the date of orcupancy, unless I.ender othenvise u�rees in writing. which consent shall not be unreasonably withheld,or unless
<br /> _--_-'--_ _- cXiCfiU:liiiib �ii."UiT1+�.ttS:C:+ :.Xi:t `�}l'..^h arc be,ond Borro:��CT'S CORtI^�. �lM4YL'[�}l8�� nnt dretr�y_ da�maee or IIt1Qa1� ttlC
<br /> ' Property, nUow the Property to deteriorate, nr r.ontntit w�.ste on thc Property. Borrower shall be in default if any forfeiture
<br /> � action or pmceeding, whether civil or criminal, is begun that in Lr.nder's good faith judgment could result in forFeiture of the _
<br /> •� Property or othcrwise materially impair thc lien crcated by this Security Instrument or L.ender's security intcrest. Borrower may
<br /> cure such a default und reinstatc,as provided in paragraph 18, by causing the action or prcxeeding to be dismissed with a rulin�
<br />__ that, in Lender's good fuith detcnnination, prccludes forfeiture of dic Borrower's interest in the Properiy or other material
<br /> " • impAirmcnt of the licn cre�tcd by this Security Instrument or Lendcr's sccurity interest. Borrower shall also be in default if
<br /> " ' F3orrower,during the loan application process,gave materially false or inaccurate inforniation or statements to I.,ender(or failed
<br />:;, to provide Lender with any material informution) in connection with the loan evidenced by the Note. including,but not limited
<br />- ta, representations concerning Borrower's occupancy af the Property xs a principal residence. If this Security Instrument is on a
<br /> leasehold. Borrower shall comply with nll thc provisions of the Icusc. if Borrowcr acquims fee title to the Property, the
<br /> ,.. � leasehold and tl�e fcc tide shull not merge unless Lendcr ugrees ro thc mcrgcr in writin�.
<br />' 7.Protection of I.ender's Ri�hts in the Property. If Bormwer fails to perform the covenants and agreements contained in
<br />_ � . thit Securiry Instrument, or there iti a Iegal proceeding that may signifcantly affect Ler.der'ti rights in the Property (such as a
<br /> proceeding in bankruptcy, probate, for condemnution ur forfeiwre ��r tc�enforce lawti or regulations),then Lender muy do and
<br /> pay for whatever is necessury to prc�tect the value of the Ptopert�� and Lender's rights in the Property. Lcnder's uctions msy
<br /> z� include paying any sumti ticrured by a licn which has priority ovcr this Sccuriry Instrument, uppearing in court, paying
<br /> rcasonablc attorneys' fees and.ntcring on the Properry to muke rcpairs. Although I.cnder may take action under this paragraph _.
<br />__.,�.. 7.Lendcr does not havc to do so.
<br /> - Any amounts disbursed hy I.ender under this purrgraph 7 shull become udditionaJ debt of F3orrower sccured by this
<br />� �'! Security Instrumcrrt. Unless Borrower and L.tndcr agrcc ro nthcr tcmis of paymcnt,thesc amounts shall bcur interest from thc
<br />� �' datc of di�burumcnt at thc Nutc r.itc anJ �hall hc payublc, with intcrest, upon noticc from Lcndcr to Bonowcr rcqucsting
<br /> �� payment.
<br /> � S. Mortfiafie Insurance. [f'I.ender reyuired mortgagc insurance us a condition of making the loan secured by this Security _
<br />_ � Instrument. Bc�rrc�wer shall pay the premiums reyuired to maintuin the morigage insurance in effert. If, for uny reuson, the ���-=-
<br /> mortgagc intiurance coveragc rcyuired 'ny LenJcr lapseti or�eaus to be in etFect. Borrower shall pay the premiums required to ��'-
<br />= � obtain covcragc,ubstantially cyuivulcnt to thc mortgage insurance prcviously in cffcct,at u rost substantially cyuiv:�lent to tt►c — , -= v _
<br /> ro,t tci Bnrruwer ��f the mnrtgage insuranrc previously in cftect, from an alternatc rnongagc inxurer xpprovcd by L,ender. If �
<br /> - � tiubstantially cyuivalcnt mortgage insurancc covcragc is tiot availablc. Hurrc�wcr shall puy t�� l.cndcr cach month a sum cqual to ;� � -��
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<br />= , .� c�nr-twcltih uf thc ycarly mortgagc inxurancc prcmium hcing paid by Bcirrowcr whcn thc in�urancc coveragc lapxd ur ccu�cJ to -;;::4
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<br /> br in rff'cct. IAndrr will arcept,utic and retain thcsr paymentti a� a lutis rescrvc in licu ul' mortgagc insurancc. Loss rescrvc
<br />' Form 3026 9/90
<br /> Pi��r!01 6
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