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<br /> � S. Hamrd or Pmperiy Iasvra.� Borrawer shall keep the impruvemertts n�existiag or tsereafter erected on the � ,c•�;
<br /> � , Property insured against loss by fi�.har.�rds inctuded wishin the term °extended coverdge"and any oiher 6ardrds. including� •,,:`�'�
<br /> �` � floods or flooding,for which Lender requires insurance.This iasvrance shall 6e maiataiazd in the amounts and for the periods , ��, f � '.
<br /> �^r"�` that Lender requires.The iasurance rarrier providing tde inswance shall be chosen by Borrower subject to Lender s approva.t� ,
<br /> ���, which shall not be nnrea�onably withhetd.If Borrower Fails to maintain coverage described above,Lender may, ai Lender's� �` �
<br /> ' • � option,obiain ooverage to pmters I.ender's rights in the Pc�perty in accordance with paragrapn 7. �
<br /> ' �• All insuranoe policies and renewa}s shall be acceptable to i.ender and shnU include a standard mortgage clause. Lende - ,. `';. •
<br /> _ �: . �; shall have the right to hold the policies azsd renea+als. If Lender requires,Borrower sha(1 prompdy give to Lender all receipts of ,� _:�'`"�':.f� -
<br /> '• ,..`�� paid premiums and renewal aotices.I a t he event o f loss,Borrocver s h a l l give prompt aoace w t 6 e*n��*�*+�cazrier an d I�n d e r.� ���: .'`�.":`••
<br /> , � ' ' � Le�er may make proof of loss if noe made pmmpdy by Borrawer. , � _ :__-°
<br />, ' . " f.� Unless Lender and Borrower otherwise agee in writing,insurance praoeeds shall be applied to restoration or iepais of the � _- -_-
<br /> s , �. � Property damaged,if the restoratian or repair is ewnomically feasible and Lecder's security is not lessened.If the testoration or `::�,�;:-�..-
<br /> � _ ' repair is aot economicaUy feasible or[.euder's seairity woWd be lessened.the insuraace procceds shall 6e applied to the surns . - ---
<br /> _ • � `...� secured by this Sea�rity Instrument,whether or not thea dne,with aay excess paid to Borrower. if Bomnwer abandons the r`r`' '�
<br /> Praperty.ar does not answer within 30 days a notice from Lender that the insurance cazrier fias offemd to settle a c1aIm,then ``�'' �
<br /> r` � � Lender may collert the insurance proceed�. Lender may use the pmce�ds to repair or restore the Property or to pay sums
<br />` , c�.:t....�'_ _''4.:'
<br /> - .: ,��c., _ :� secured by thls Security Insttument.w6ether or not then dae.The 3Q-day period wiU begin when the nnrice is given. : � �
<br /> � '`f Unless Lender and Borrower otherwise agree in writing, any application of procceds to princi�al shail not extend ot ��~` � � --
<br />:,� -: ,.. =�:::;t postpon�the dae datc of the montiily payments referred to in paragraphs 1 aud 2 or change the amoune of the paymerrts. If : -• .- --�:
<br /> . �...':� under paragragh 21 ihe Property is acquired by Lender.Borrower's right to arry insurance poGcies and pmceeds resu{ting from
<br /> _ .. �.•.-;�t ��_`;�_
<br /> damage to the Property prior to the acquisition shatl pass to l.ender to the e�ctent of tha sums secured by this Seca�rity Instrument
<br /> �. -.,._
<br /> � • ,. ;. immediately priorto the acquisitian. ,!;,,
<br /> � ` 6.Oceupancy,Preseavattan,Matntenance and Ptotectioa of t6e Property;Borrower's Loan Appltcat�on;I.easeholds. _ .�T�J �
<br /> �: � , i . .
<br /> _.. .,�����,:;:''.-.•. : .�� Borrower shall oaupy.establish.and use the Property as Borrower's principal residence within sixty days after the eaecation of ::;,tt.;:;i�=--:
<br /> ; �;�''�. ". °' this Security Instrument and shall condnue to occupy the Pmperty as Borrower's principal residence for at least one year aRer •" '' = e
<br /> � � �,`� the date of occupancy,unle�Lender otherwise agrees in writing, which coASent shall not be unreasonabty withheld,or unless �'? '=—_-
<br /> ' _� �� .. af' extenuating circumgtances exist which are beyond Borrower's control. Borrower shall aot destroy. damage or impair the �"�"`���-
<br /> - _-__�_�:.• altow the Pro e to deterioiate, or commit wasce on the e Borroa•er shall be in default if forfeiture ' - � �� ��� �
<br /> =-x.._ - �P�Y• P rtY �P i'�Y• �J+ �.�-�;.a-
<br /> � ' acrian or proceeding,whether civil or criminal,is begun tIa�x in Lender's good faith judgment could resutt in forfe�re of the ----
<br /> . Property or othenvise materially impair the lien created by tisis Securiry Insuvment or I,ender's security interest.Borrawer may ''="�"' `Y��.
<br /> . ,: cure such a default and reinstate.as providea in paragraph 18,by causing t�:action or proccedin�to be dismissed with a ruling . �-�-.:,z=�
<br /> � � � that, in Lender's good faith determination, precludes forfeiture of the Barrower's interest in the Properry or other materiat •; �� • ''_=_
<br /> , ��'� - �� ,. impairment of the lien created by this Security Instrument or i.ender's secarity imerest. Borrower shall also be in default if ��`;�'� :•a,
<br /> � .�, , Boaower.during the loan application process.gave materially false or inaccarate inforraztion or statements to Lender(or fai2ed ' �`;?;;��... �;��"''=
<br /> ,'..
<br /> to provide Lender with any material information)in wnnection with the loan evidenced by the Note,including,but not litnited 'ii��.'•.:,.::�-
<br /> ' � , ` to,representations concerning Borrower's occupancy of the Property as a principal residence.If this 5ecurity Instrument is on a . . _ —
<br /> . � '� • teasehald. Borrower shall comply with ap the provisions of the lease. If Borrower acquires fee title to the Property, the .:,a,...;�._:-
<br /> . . � .: leasehotd and the fee title shall not merge an�ess lxnder agrees to the merger in wri6ng. -__=- ___
<br /> ' ' • ?.Protection of Lettder's Rights In the Yroperty.If Borrower fails to perform the covenants and a�reemenu contained in - � _.
<br />�- � . this Sxuriry Instrument,or there is a legal proceeding d�at may significantly affect Lender's rights in the Property(such as a -. •:•
<br /> � �. . � proceeding in bankruptcy.pmbate.for condemnation or forfeiture or to enforce laws or re�ulatioas).then I.ender may do and � � � '�=�=
<br />-.;`: .. � pay for whatever is necessary to pratect the value of the Property and l.e-nder's rights in the Property. Lender's actions may •���r_;;:��,
<br /> ' , � '. include payin� am• sums secured by a lien which has priority over this Security Instrumen� appearing in wui, paying - _ ''
<br /> ,. .
<br /> � � '. reas4nable attorneys'fees and entering on the Property to make repairs. Although Len�+e�may take action under this�aragraph = r�-;�;.�*.��. ��:
<br /> . . .,` »�.._
<br /> . � • 7.Lender does not have to do so. _
<br /> • . Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this _ • � " '�` �'_
<br /> � . . � Securi Instrum�mt. Unless Borrower and Le:*.ver a ree to other tcrms of a •. ���'��
<br /> ty g p ymcnt, these amounts shall bear interest from the ,.;.;.
<br /> � .' date of disbursement at the Note rate and shall be payable. with interest, upon notice fmm Lender to Borrower requesting , . , ,
<br /> -. payment. � .
<br /> . � 8.Mortgage Insutance.if Lender required mortgage insurance as a wndition of making the loan secured by this Security ' '
<br /> � - • � Instrument. Bonower shall pay the premiums required to maintain the mortgage insurance in effect. if, for any reason, the . • �_ � � �
<br /> --='' •. • �uo�lgage insurance coverage required by I.ender lapses or ceases to be in effect.Borrower shall pay the premiums required to . � . � ..
<br /> • obtain rnverage substantially equivalent to the mortgage insutance previously in effect,at a cost substantially equivalent to the •
<br /> - � cost to Borrowcr of the mortgage insurance previously in effect, from an altemate mortgage insnrer approved by Lender. If • . " �•�'
<br /> � . substantialty equivalent mongage insurance coverage is not availabte,Bonower shall pay to Lender each month a sum equal to . � . �
<br /> . . one-twelfth of the yeariy martgage insurance premium being paid by Bonower when the insurance wverage tapsed or ceased to ,
<br /> ,. ' ' . � be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurar.:e. Loss reserve .. �
<br /> ` ' • . Form 3028 8/90 ' � �
<br />. �-- Cago3ol8 . • .`
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