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<br /> ' . . � ' S. Ha7ard or P�periy Insurance. Borrower sGall keep ihe improvements now eRisting or hereafter erected on the � �
<br /> � � ' . . Property ins�red against loss by fire, ha7atds inciuded within the term°eatended ooverage"and any other 6aratds, including , _
<br /> . fi e ftoads or flooding,for which Lender requires insurance- 7'his insu�shall be maintained in the amounts and for the periods , . `
<br /> "��-"�� that Lender requires. The ituurance can-ier providing the inswance shall be chosen by Borrower subject to Lender's approval ` ,� `.
<br /> :,.. .�
<br /> ` , . . . which shall not 6e unreasonably withiield. If Borrower faits W maintain coverage described above. Lxnder may.at Ixnder's -- � -.- -
<br /> :�; ;�- r `�' ` option,obtain coverage to protect Lender s rights in the Property in accordance with paragraph 7. , ,
<br /> • ' All insurance policies and rencwals shall be acceptable to I.ender and shall include a standard mortgage clause. Lender . . . �
<br /> ;,�:�� ., �`' shall have the right to hold the policies and renewals.If Lender res�uires.Borrowez shall promptly give to I.ender aIl receipu of ' ,� ; ` `'` _
<br /> ;�-` :: . , -_ paid premiums and renewal notices.In the event of loss.Bortower s6all give prompt natice to the insurance carrier and Lender. ' ` `: �
<br /> .: - • �� ,�; I.ender may make proof of loss if not ma.de promptly by Borrower_ �'' `' •
<br /> �°�� ' . Unless Lender and Borrower otherwise agree in writiag.insurance procexds shali be applied to restoration or repair of the �" . '2--=---„-_-
<br /> .S,:' � • .
<br /> ` Property damage�.if the restorarion or repair is econoaucaliy feasible and Lender's sacurity is not Iessened.If the restoration or � ��` '� ':�
<br /> .' • �� � repair is not econoaucally feasible or Ixnder's security would be lessened,the insuiance proceeds shall be applied to the sums � �'��--
<br /> •'.[. , r e . '' �S-`
<br /> ° • r secured by this Security Instrument, whether or not dicu uuc, witte any excess paid to Borrower. If Borrower abandons the '�.�r_
<br /> ri�, ' � ` ` - Property,or does not answer within 30 days a notice from I.ender that the insorance r�rrier has offered to settle a claim,then ''.rt. --
<br /> ;� ` • � Lender may collect the insurance proceeds. Lendec may use the proceeds to repair oc restore the Pcoperty or ta pay sutns ' �'�f
<br /> _ � � ' . secured by this Security Instntment,whether or not then due.The 30-day period will begin whea the noti�is given. �'
<br /> �... �:.�
<br /> � " Ualess Lender and Borrower otherwise agree in writing, any applicatian of proceeds co prinripa! shall not extend or � '. --�� "_
<br /> _ �•��= o ne the due date of the monthl ments refecred to in hs 1 and 2 or c e the amourcc of the a ents. If `� ;j�� �_�:•��
<br /> -- P � Y Pa9 P�'dP � P Ym �.;�,�;_.�_
<br /> �`' " under h 21 the Pro is a uired�b Lender. Borrower's ri t to an insurance licies and roceeds resultin from "•�°`��''
<br /> , . . �.. P�8*aP Ae1'�Y � �9 Y Sh Y PQ P 8 ,r�;; �'�
<br /> V damage to the Property prior to the acquisition shall pass to Lender to the extent of the sur►�s secured by this Security Inswment � �g,_
<br /> �''r : ` .:.i ,
<br /> • . � . ' �. immediately prior to the acquisition. �., ;� . -
<br /> :.�. -
<br /> '^.t 6.Occapancy,Pr�ervatton,Mainteuance and Protectton af the Property;Borrower's Loan Appl�cation;I.easehotds. � ,:�a�.s 1�:
<br /> �*� � ��, , Borrower shall occupy.establish,and use the Property as Borrower s principal residence within sixty days after tl�execntion of " . . ;,�,�;.
<br /> � • this Security Instrument and shall continue to occupy the Property ac Bocrowei s principal residence for at least one ye:tr after `:�;.;;:,�4='
<br /> }.'; . �-��-
<br /> , the date of occupancy,unless Lender otherwise aQrees in writing, �vhich oonsent shall nat be unreasonably withheld.or unless �T=�-- ..
<br /> �' '. � � extenuating circumstances exist whicb are beyond Borrower's ooatrol. Bomower shall not destroy, damage or impair the �-_----
<br />- � Property, altow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if any forfeiture :,��:;;`�l=
<br /> �- � action or proceeding,whether civil or criminal,is begun that in Lender's goad faith judgment could result in forfeiture of the �-�°°-L�
<br /> •� ;<,.�_'_
<br /> Property or otherwise materially impair the lien created by this Security instrument or Ler.der's security interest.Borrower may : � ., •.
<br />= cure suc�a defauli and reinstate.as provided in paragraph 18,by causing the action or proc>�ding to be dismissed wit�a ruling r;?`r'�� ';_�'-
<br /> • .�. � . � that, in I.ender's goad faith determination, precludes forfeiture of the Borrower s interest in the Property or other material - '�'d �'�'u
<br /> -�� �� , �- •�• impairment of the lien created by this Securiry Instrument or Lender's security interest. Borrower shall also be in defauli if —_-
<br />',' • �•:�7. Borrower.during the loan application pracess.gave materially false or inaccurate information or statemenu to Lender(or failed _ ' � � �
<br /> _. � � , to provide Lender with any material information)in connection with the loan evidenced by the Idote,including,bat not IimitQd . ;'`-'_���_
<br /> . . . . .fi� ,,.
<br /> . : to,representations conceming Bonower's occupanry of the Propetty as a principal residence.If this Security Instrument is on a , ' `�
<br /> `` leasehold. Borrower shall comply.with all the provisions af the lease. If Borrower acquires fee title to the Properry. the . :``�±e—
<br /> • . � � leasehold and the fee title shaU not merge unless Lender agrees to the mer�er in writing. � - ___
<br /> �� ' • 7.Proteetton of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreemenu contained in
<br /> '`:I � : this Security Instrument,or there is a lcgal proceeding that may significantly nffed [.ender's ri�hu in the Property(such as a ' ��
<br /> '�_�l� , • praceeding in bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations), then Lender may do und _ -
<br /> -� , � pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. I.ender's actions may ,-:-.�_
<br /> - � include paying any sums secured by a lien which has priority over this Security Instrument. appearing in court, paying , • . . •
<br /> ��'' � reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may takc action under this paragraph ' .
<br /> ' } 7.l.ender daes not have to do so. ' .�. : �� .
<br /> � F An amounts disbursed b Lender under this ara r h 7 shall became additional debt of Borrawer secured b• this '%� � '
<br /> • • . •;. Y Y P �aP f �'�," .:�.:. .� _.
<br /> , Security Instrument. Unless Bonower and Lender agree to other terms of payment. these amounts shall bear interest from the •''��� „
<br /> � � ' date of disbursement at thc Note rnte and shall be payabie, with interest, upon notice from Lender to Borrower requesting
<br /> V ,: . � . '.
<br /> payment.
<br /> '`� 8.tilortpage Insurnnce.lf Lender required mortgage insurance as a wndition of making the loan secured by this Security
<br /> � Instrumer�t. Bonawer shall pay the premiums required to maintain the mortgage insurance in effect. If, for any teason, the ' '� .
<br /> � mortgage insurance coverage required by Lender lapses or ceases to he in eifect, Borrower shaU pay the premiums required to '
<br /> � �� obtain coverage substantially equivalent to the martgage insurance previously in effect,at a cost substantiaUy equivalent to the ' �: _ �
<br /> .', • ' cost to Borrower of ihe mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If , . ,
<br /> � ` � substantially equivatent mortgage insurance coverage is not available. Borrower shall pay to Lender rach month a sum equal to .
<br /> " � one-twelfth of the yeariy mortgage insurance premium beir.g paid by Borrower when the insursu�ce coverage lapsed or ceased to . •
<br /> � . .� be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortg�ge insumnce. Loss reserve -
<br /> form 3028 9l90 �
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