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<br /> � � 5.Hazard or Property Insuraace. Boaower shaU keep the improvemenu now eaisting ar hercafter crccted on the Propercy � , � �':;
<br /> ' • insured against toss by fire,hazards includ�wiWin ihe term "e�nded coveragc" snd any other hazards.including fioods or ' �. � • •
<br /> .', ttooding,for whicb Lendcr irquires insur�nce.'i1»s ins�rance shalt 6e mainisincd in the amouats and for the periods thal Lcadcr �. : .
<br /> '. .'::; requires.'!he u�surance carricr providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not . ' y .
<br /> be unreaTOUabty withheld. If Borrower fails w a�aintain coverage described ahove, Lender may, az Lertder's option, obtain __.
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<br /> . ,.<:. coverage tn protect Lender's rights in the Property in accordance with paragaph 7. f: - --. -----
<br /> , : � All ins�rance poficies and renewaLs shall be acxeptable w Lender and shall include a standard mortgage clause.Lender shall t ." . . , � • , . .
<br /> • � have the rig6t to hold the palicies and reaewaLs. If Lender requires.Boirower shall promptiy give ro Lender all receipts of paid � ; _ .
<br /> premivcns and raiewa!natices.In the event of loss.Borrowcs shall give prompt notice to the uuurance��rier and I.endec.l.ender •~�� ; ,
<br /> ' may maice pmof of loss if not made promptly by Bormwer. --�- , :'.
<br /> , • � Unless Lender and Bocrower otherwLse agree in writing,insurance proceeds shall be applied to restoiation or repair of tlie , • - . �"� ..
<br /> . Pro if repa'u is ecoaomically feasible and Lender's securi u aot lessenad.If the restorarion or . < �`•� ..`', .
<br /> � . � ` P�h►damdSed,' th�e restoration or LY� �.;,�.;.;
<br /> , , repa'v is not economicaliy feas�'ble or Leader's security woutd be tessened,the insu.rance pracaeds shall be applied m the sums .. ,
<br /> • • szcured by this 5ecurity Instiwneat, whether or not Wea dae,witb any eace�v paid w Borrower. Jf Borrower abandons the ` `�':�. ��•__
<br /> ` - Property,ar daes not answer within 30 days a notice&om Lendea that the insluance carrier has offered w seate a claim.then r� �t
<br /> � , - Lendes may coIlect the inswance pmceeds.I.ender may use the{tmceed4 to repa'a or restore the Property or to pay sums sec�ued : "�.��;>n•...
<br /> � ����`•; by this Security Instrumeat,whetha or aot theu due.The 30-day peaiad will begin when the nopce is given. . • .
<br /> ' Unle�Lender and Bormwer othc�wise agree in writmg,any appliqtion of proceeds tn principa!shaU noi extra�d or postgone r , • �'�°'�'
<br /> ' the due date of the monthly paywents referred w in paragraphs 1 and 2 or change the arnount of the payments.If under paragtaph � �, _- _.
<br /> , �''..:.� 21 the Propeaty is acquired by Lender.Bonower's dgbt w any insutance policies and praceeds resulting fram dau�age tfl the . . ;: . .�-_�__-
<br /> Propaty prior w the aequisition shaU pass to Lender ro thc extent of thc sums sec�ued by this Seauity Insinunent immediately �.=°
<br /> . ��ti r——
<br /> prior w the aequisidan. � ' ;'�'�`''-�'-�` "-
<br /> �`'�. 6.Occupancy,Preservatton,Maintenance and ProtecUon af the Property; Borrower's Loan Application;Leasebolds. . . :' ..,;�:!�:'"�'�
<br /> Borrower shall accupy,establish,and use the Property as Borrower's principal residence wit9�in sixty days after the eaecution of ,,,�!•:._�.
<br /> .", . this Security Insmiment and shall cantamue to occupy the Property as Borrowe,r's principai residence for ai teast one year after the . � .,. ";� " ' •:'
<br /> � � ' date of occffpancy. untess Leader otherwise agrees in writing, which cansent shall not be un�easonably withheld,or untess ��.-J��? "� ��'
<br /> � . eaRennating cuc[unstaaces exist which are beyond Borrower's control.Borrower sdall not desuoy,damage or impair the Property, , •'`:�`�.._t �:_
<br /> ' allow the Property to deteriorate,or commit waste on 1he Property. Borrower shall 6e in default if aay forfeip�e acaon or �:; ,.���;���;�
<br /> � • praceeding,whether civil or criminal.'ss begun that in L,ender's good faith judgment coald result ia fadeiture of the Praperty ar _: . -- ;,.
<br /> �. othernise materialty impair the lien created by this Security Instrument os Lender's seeuriry intcres�Borrower may cure such a •'��.
<br /> ' default and reinstate,as provided in paragraph 18,by causing the action or proceed'a�g to be dismissed with a n�ling that,in "� �:�'�:�:r�:
<br /> �� � [.ender's good faith determination,Isrecludes forfeiture of the Borrowa's inierest in thc Property or other matetial unpairmer.t of _ • �' ` �,�' .
<br /> � . � the lien created by this Sec�rity Instrument or Lender's security inu�res�Bo:rower sl�aU also be in default if Borrawer,during the .
<br /> . loan application process,�ave materially false or inacturate information or statements w I.enda(or faited to pmvide Lender with =�� '
<br /> any material infonnadon) in connec6on with the loan evidenced b the Note, includin ,bu!not limited w, representations �`."�'r%`�
<br /> Y b � �. �';:��,�:d;
<br /> conceming Barrower's occupancy of the Property as a principal residence.lf this Security Insuument is on a leasehotd,Botrowea • .`.�;•:',;:,'�''�:. �-
<br /> � shall comply with aU the provisions of the lease.If Boaower acquires fce atle w the Property,the leasehold and the fce title shall �' �}'�"""
<br /> z"�t.,.
<br /> : not merge unless Lender agrees to the merger in wiitir►g. '
<br /> � ,� 7,Protectton of Lender's Righis in the Praperty. If Bonower f�ils to rerfor:ce the covenants ant!agrcements contained in • -- --•-'��'=
<br /> . this Security Insuument,or there is a legal procceding that may significantiy affect Lcnder's rights in the Property(such as a . ' �" �
<br /> . � . . ,� procecding in bankruptcy.probate,for condemnation or forfeiture or to enforcc laws or rcgula6ons�,then Lender may do and pay • �.;;�: ,,; ��°�.
<br /> for whatever is necc�sary w prouxt the valuc of the Property and Lendcr's righls in the Propeny.Lender's actions may inciudc � ''`-� , �-
<br /> � �.� .
<br /> . '' paying any sums secured by a lien which has priority over this Security Instrumcnt, appearing in coiut, paying reasona b le � � �•
<br /> - . � � � atiomeys' fees and cntering on the Propercy to maice rcpairs.Although Lender may takc action undcr this paragiaph 7.Lcnder � ',"'a''. '
<br /> � docs�ot havc w do so. �
<br /> 9 My amounts disbucsed by Lender ander this paragaph 7 shall become additional debt of Borrower secured by this Secarity � � ' `
<br /> l �. ; Instrumen� Untess Borrower and Lcnder agrce w other terms of paymcnl,these amounts shall bear interest from the date of : ,�, �-.'.:��'��•
<br /> ' � disbursement At the Notc ratc and shall be payablc.with intcrest,upon notice from Lendet to Borrowcr rcquesting paymcn� • :
<br /> , S.Mortgage Insurance. If Lender required mortgage inswance as a condiuon of making the loan secured by this Security
<br /> � Inswment, Borrower shall pay thc prcmiums rcquired to maintain the mortgage insurance in effect. If, for any rcason, thc . . ,. ,.
<br /> � mortga�c insurance coverage required by Lender tapses ar ceascs to be in effect,Sorrower shall pay the premiums required to • • ' •
<br /> obtain wverage substantially equivalent to the mortgage insurance previously in effecb at a cc�st substantially equivalent to the � � �
<br /> cost to Borrower of the mortgage insuranee previously in et'fect, from an altemate mongage insurer apgroved by Lender. If � . _
<br /> • substantially cquivalcnt mortgage insurancc covcrage is not availablc,Borrower shall pay to Lcndcr cach month a sum equal to �, : ' ,
<br /> � onc-twcltth of the ycarly mortgagc insurancc premium bcing paid by Horrowcr whcn�hc insurancc coverage lapscd or ccascd to ' •
<br /> � bc in effec� Lcndcr wil! acccpb usc and retain thesc paymcnts as a loss rescrvc in licu of mort�a�e insuranw. Loss rescrvc
<br /> ;c� � � i Form 3028 9/90
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