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<br /> � . � � . 9�-� ����� ;_ , � . �� :
<br /> ' � . s.Hazard ar Prope�rt9 Insm'eace• Boaower shall keep the�ovements now eaist3ng ar here�r erected on the FropertY �
<br /> . - inswred agaiast loss by fue. bara�ds inctnded within the teran 'exteaded wverage�sud a�+Y other harards, inst►�d'mg flood�or i . `
<br /> . Aooding. for arhich Lender re�insu�ance.7l�is ins���s�ail be maiu�tained ia the amounts and for ths periods that I.endcr j .. �
<br /> — iequi�a.1Lc insurance carrier providinS the incuiance sball be chosen by Borrower subject w I:eader's approval whic6 shall not .
<br /> - — ` withheid. If Borrower fa�s to � cmerage descre'6ed above. Lender maS+, ai Leader's option. obtain � • "_
<br /> ' � �:`�� be wueasonabty � �
<br /> _ . coverage w pmtECt Lender's ri�hts in ths pmperty in asxorilaace with pa�aph 7• _
<br /> Ail iasivance Policies and reaewals shall be accePtable w Ixuder and shall include a standard mnt[gage clause. Ixader sha11 E� . , �`'`
<br /> ' � have the right w hold the policies and renecvals.Tf IJender requires,Bomuwer shall promP�Y Bn'e w I,eader all receipts of paid . ,. . , .«
<br /> p.�+n�+na and�wal nntices.In the event of loss,Boaower shall give Prompt notice to the m.gurance rarrier aad Lender.Leadcr , _
<br /> . < � � may make proo f o f loss�ao t made p r o m P�3+bY�rmwer. `.•i,
<br /> _ . ' Uniess Irender and Borrower otherwisc agee in writm8,iaguramce Pioceeds sLall be applied w reswrarion or repair of the �-'��:��.
<br /> �'P'1�.
<br /> �`' �P�7+��•if the restaiauon or repais is economica]IY fean'b2e and Iender's se�itY ss not lessened.If the resooradoa or . .
<br /> � shall be applied to the s�a
<br /> is not e�onflmicallY f�2e or Lender's ser�itY wanld be lessened,the insu�nce Placeeds ,.
<br /> � " s sec�ued by this Se�uriry rna,.,,roe_±► whedter or not then due,with a�ry exc�s l�d m Boaower. If Bormvrer abandons tbe �,��-,_
<br />_:'. .;.. � :�._,.
<br /> ,;. . � p�PenY.ar dces not anawer whhin 30 days a notic�fmm L�der that the�cazria has offered ta seuIe a claim, dien ...j. : �_,-
<br /> Lender may use the procxeds m r�air or reswre the Pmperty oz w pay smns s� �
<br />;: ' . LenBer may collect the msurance Pmce�s• when the nntice is given. � ,�
<br /> ,' .,,,e++, whether or not thea dne.l7�e 30�day Pesiod w�11�eg° -
<br /> . by tbis Sec;�ity Insu�--- �Bg . -- -.
<br /> lication of m priacipal shall IIat extend os posspone �"`
<br /> • lJnless I.endcr and Botrower athetwise agree in writiug,aaY aPP p� h -
<br /> • the dae date of the m�tY FaYme�sefeised to ia pazagaphs 1 and 2 or cEauge the amn�t of tLe gaymeats.If imder puaSrap � �i''-
<br /> Lender. Borrower's rig6t to any mstn'ance Policies and proceeds resuInng froM damage to tLe ---�= `'�_'
<br /> • 21 the Property is acqai�ed bY imnnediatety � -?
<br /> p�'opertY Prior ta the a c q v i siuon sl�all pass to Lcnder to tbe exteat of the sums se�vied by thi.s SecurltY Ins�e� , f' •�_
<br /> �i 'don. �'�`�;"",
<br /> !i �, prior to the acquisi and Prot�ction of the Yroperty; Borrmver'a E.oan Appltcation;Leaseb�old9. �. ,
<br />�';� - ' 6.Occapancy.Preservatton,Maintenanre . ``"'.'
<br /> _ Borrower shaU occupy,establish.and use the Praperry as Bonowes's piincipal residence arldun siMy days after tt�e execution of ::�z;->�
<br /> incipa
<br /> v,t this Sec�uit�+Ias�ment and shaU caatimie w accuPY the Pmp�T�Y�Borrower's priucipal resideace for at least one yeas a8er the ". Y#;,,
<br /> ���;
<br />- .r: � date of oaupancY, unless Leader othernise agrees in wiitin8, abich consent shall not be unieasonabo wI�l�or�ess � ;4 :
<br /> 'x, ' ' �.` extem�atin8 ctra�s�ns�e�dsc which are beYond Borcower's cwnnrol.Bonower shall not deatroy.dam�e 1mF � �P�Y, ,-,r j.
<br /> : ' orate,or commit wasu on the Praperty. Bonawer shall be in default if auy forfeiwre asdon or . . ��:�;LL'�
<br /> �..� '�r alto�v die Property w detcri , cauld r�suit in forPeimt�of tbe Praperty or . ``'•;�
<br /> 'S proceediag,whe�her civil ar cri�al,is beg�n that in Lx�der s gaod faith jndgment a -}�..r_ .
<br /> th xfl
<br /> . otheiarise materiaIIY imPair the tien created by this Sec�ulty Ins�m�u os Lender's sec�iry interes�Borruwec may cate sach a ,,;.
<br /> ara h I8.bY c�ng the acdon or proceeding w be disadssed with a nilin�that.ia `�,'�
<br /> . - defatilt and reia4tate,as provided ia P S�P , .� ... :��:
<br /> . • :• Lender's good fahb detenniaatioa,Pseciudes forfeiuue of the Bonower's mteresc in the Property►or other material imPaismeat of . ,,;:�:.�:,
<br /> � � the IIen creaoed by�his Secaaity Iasm�ment oT Lender's security iateres�Bonawer shail also be in default if Boirower,daring the � �:
<br /> th
<br /> l o a n a g p l i c a ri o n p r o c e s s.g a v e m a t eriall y false or inaccurau mformaHon or stau:ments to L,enAer(or fa�ed to pmvide Ixndsr adth . ',..�;
<br /> aay matcrial informatlon) in co�ection with the toan evtdenceA bY the Note, iacludi�ug. b u t not l i ffi t e d w. r e p r e s e n t a ti o a g .� -:,--
<br /> • 5� concerning Borrower's occaPancY of the Froperry as a priacipal res�dence.If this Sec�rltY Insuoment is oa a lea4ehold,�osowu �,.:,�,;
<br /> the ieasehotd a�the fee dtle s2�all ..:;,�f
<br /> '." : � shall comply with ail the Pravisions of the tease.If Borrower acqaires fee dde to the Property. •. '..
<br /> ..._,-.
<br /> . � not merge�mless Lender agreea w the merger ia wrttiag. . • :�°
<br /> . � 7.protertion of Leader's Rt�ts in the Pcoperty. If Boaower fails to perfoim tfle covenants aad agreements coniained in ,,;_.
<br /> ;t . S :. ,� ..
<br />_`�' tfis Secauity Iasaument. ar there is a legal proceedinS tbat maY si g u i f ccantly affect Lendet's slgt�in the PropercS►(sucb as a :.,. ;��;
<br /> : . . , pr�g in,ban�ptcy,Probate,for co�emaation os forfeiture or to enforce lawa or regulatioas),tbea Lender may do aad pay . _ ':,;.: .-.�.:
<br /> ' for whatever is necessarl+w Protec[tt�valne of the ProPertY and Lender's rtg�ts tn the Property.I�ender's acdona maY iaclude .
<br /> , � ��'{ PaY�& �5+ � secumd by a llen whicL has prio�ity over t�s Securiry tnstcumen� aPD�B� co�• FaY�reasonable • .
<br /> :.� � � ; attomeYs' fees and eniering on the Property to make repairs.Althwgh Leader may tak�actiaa under this para�aPh 7,Lender
<br /> ',:: .
<br /> � ,�� does aot have to do so. .
<br /> pny amounts disbursed by Leader under this pazagraPL 7 sLaU become addiflonal debt of Borrower seruted Dy this Securiry
<br /> • � Inswmen� Unless Bonower and l�eader agree to other terms of paymeat. these amounts sha11 bear iaterest from the date of
<br /> �.• . . .,j disbursement at the Note rate and shall be payable.with intereat,aPon notice from Lender to$orrower requesting paYment. . • ,
<br /> ��` . ; S.Mo r t g a ge Insurance. If Lender required mortgage insi!*�*+�as a condidon of mztdng the loaa sec�ued hy th9s Securiry .
<br /> Instn�ent, Bonower shall pay the premiums r e q u i r e d to m a i n t a i n�e m o rt g a g e i m m�a n c e i n e f f e c� I f, f o r a n y► r e a s o n,t 1�e '
<br /> � : j mortga&e insurance coverage required bY Lender 1aDses or ceases w be in effect.Borrower shall pay the premiums required w _ - _.. —
<br /> -- . obtala coverage substandaUy equivalent w the mortgage iasurance previously jn effect. at a cost substandaUy eqttivaient to the . - .-� `
<br /> � � � � � c ast to Boaower of the mortgage insurance previously in effect� from an altetaate mortgage iasuter approved hy Leader• If
<br /> substantially equivalent�congage insurance coverage is not available.Borrower shall pay to Lendet each ma a t b a sum e q u a l t o . ,.
<br /> a1I
<br /> • one•twelfth of the yearly mortgage insurance premium be�n&Paid by Bonower when tlie iagtuance coverage lapsed or ceased w
<br /> • • be 1n effect. Lender wili accept,use and retain these payments as a loss reserve in Zieu of mortgage insurance. 1.oss reserve . .
<br /> Y Yorm 3@TS 9l90 : ..�
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