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<br /> i 5.Ha�ard or Propecty Insmen� Bmrower s6a11 tc�ep the impmvemeats now existing or hereafter�on the Pmperty
<br /> . . , . _, � • insured agaii�st loss by fue.ba7ards i�claded within We t�m"exteade�cov�7age"and aay other hazards.inciud'mg t2oods or ` �•,,; `� �
<br /> . . ' ,• � ftood'mg,far whic6 Leader requires msuianoe.'I1�is insuance sbaU be maintained in the amounts and for the periads tbat L.ender :�..•,.. :. _
<br /> . ,.,� re9uires.l7�e insurance carrier pmviding We�sucaace shall be chosen by Boaower subject tn Lender's appmval wtuch s4all not C� .4 .`° . •
<br /> , - `� be w�reasonably withheld. If Bonower fa7s to caaintain cov�age descn'bed abave. I.endca may. at I.ender's option, abtain� °- ' .� :'.
<br /> --- -,- ,-°�:_l ooverage w pmted Lendea's rights m the Property in accordance with parag�aph 7. i �- � - -
<br /> .� .. � All insurance golicies and�ewals shall be axeptable to Lendes and shall mclu�e a standard mortgage clanse.Lender shall � - �
<br /> � have the rig6t tn hold the policies and reaewal.s.If Lendea ieq�es,Bosower shall prompUy give w I.ender all receipts of paid �' • � -� �� " �
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<br /> � �ms and reaewal notices.In the eveut of toss,Boaower shall ve . „. �� •
<br /> pre�nium gi prompt notice w the insivance carrier and Lender.I.ender �
<br /> � may�proof of Tnss if not made pmmpuy by Bonuwer. .
<br /> Uniess L�der and Borrowea athexwise agcoe m writing,iasurance pioceeds si�all 6e appHed to�oa or repais of ti�e �
<br /> . �P�Y�Sed,if the restoiarinn or re�air is economically feasi'61e and Leuder's seauity is aot Iesseaed.If the resrorarion or � �• �
<br /> . . � repair is not economically feasibte or Leader's security woWd 6e l�ed.the ins�ance pmceeds shall be ayplied w the sums - �..'�°;�:_-e 4
<br /> . . seaued by �hi�3ecurity Iashumeat, ahether or not ihen due.with any excess paid to Bonower. If Boimwer abandoas the �• �'.�r;;`."';'>=`
<br /> � . : ProPeatY,or dces not answea wiW�in 30 days a notice from Latder that the insurance cxrrier I�offeaed tn seute a claim,thea :,_ _�`__
<br /> , Leader tnay collect the+n��++�pmceeds.I.ender raay use the proceeds w repair or resmre the Pcoperty os w pay sums seaued ' :'=;�_�,
<br /> .; by ttus Seasity Instrument,whet��or not theu due.'Ibe 3Q-day period will begin when the aotice'ss gtven. ;��. :
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<br /> ' � Unl�ss Lender and Bormwer ot&eiwise agree in wriniag,any application of praceeds w prinapal sha11 not extead or posqwne ` ��
<br /> . . _ the dne da�e of the monthlY PaYR►eats refeQed to m pacagraphs 1�d 2 or change the amouat of the payments.If nnder pazagraph � '.�;�''��_ ----
<br /> , � 21 the Prope,rty is acqused by Leadea,Boimwer's right tn aay ins�uance poliaes and proceeds re.sulring from damage m the .. _..._.._
<br /> .. _" Pnnperty prior w the acquisition shaall pass w Lender w the exteat of the sums secured by this Sec�urty Insomme�t immediatety - '' `_— -
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<br /> �� prior m the acquisition. � `.';>,:��" _
<br /> � �`�' 6.Occapancy.Presesvatloa,Mainteoance and ProtecHnn of the Property: Borrawer's I.oan Applicationi Leaseholds. � ��,.
<br /> Borrower sdaU ocrvpy,estabtish,aacl use the Propeaty as Bo:mwea's prineipal resdeaue withir�suty days after the execatinn of �':'�������,�., `
<br />, . .. tLig S�aity Inst�ument aad shall contiuus to aa�apy ihe Pmpertyr ffi Bomnwer's priuciptil residence for at Ieas�one year aftet the ' ���`�r.,,���k
<br /> � date of accupancy, untess I.�dei otheiwise ag�es in writing,which cor�t shall noi be�uueasonably withhs1d.or unless ',
<br /> exteananag cirpunstances exist which are beyond Borrower's oontrol.Bormwer shall noi destroy,damage or unpaa the Pmpaty. , ,:` .`�,
<br /> � - altow the Praperty w detaiorate.or comnut waste on the Fropeaty. Borrower shall be in defauIt if any forfeiwre action or . • �.•
<br /> pmceedm8,whether civ�or criminal,is begun that in Le�der's gaod faith judgment could resWt iu forfeipue of the Propaty or �.;:;z•� �;
<br /> othervvise mateaialty impair ths lien a�atcd by d�is Sec�iry In�mume,nt or Lersd�'s secarity interest Bormwer may cmre such a .� ;I';��$
<br /> • default and reins�ue,as pmvided m pa�agaph 18.by c�using ibe action or pmceeding to be dismis�ed with a niling tbat.in , .�"�;
<br /> ��� Leatdea's good faiih deteaminatioA,precludes forfeiwre of the Borrawer's intedest in the Froperty or other matErial irnpaument of � ,,' ..:�..�,�,��.�',�.
<br /> the lie�crearcd by Uus Secmrity Ins•m�ument ar Lende�'s sectuity inteaest.Borrower sha11 also be in defaWt if Bormwes,dwrirtg the � .��
<br /> loan application process,�ve materially false or inaccurate infarmatian ar statemaits w Lender(or failed w provide Lendea a+ith , . , ���;�..�`�
<br /> ' � any material informarion) in cannecHon with the loan evidence4 by the Note,includiag, but nai ltmited w.represe�tadons � �. ' �;..'�s
<br /> oonceaaing Borrowea's accupancy of the Property as a principal residence.If this Securiry Insdmme�t is an a lea�ehotd,Basower ,. �: ��,,�;,�;i�:
<br /> • � shaU camply with all thr provisions of the lease.If Bomuwer acquires fee title w the Property.the leasehold and the fee titte s6all , _';_��;;
<br /> � � not merge unlecs Lender�rees to the merger in writing. �*� `
<br /> : 7.Protedion oPLender's Rig6ts In the Property. If Botrower fails w peiform the covenants and agreemenm contained in ��°'
<br /> � . this Secaai Instrumeot, or there is a legal proceeding thai may significand affect l.ender's ri ts in the Pro . ' .`��='".'
<br /> ty y gh peaty (sucb as a
<br /> D�8 m 6�P�Y,D�bate.far condemnarion ar forfeadue or w enforce laws or regWations).then Lender may do and pay ',..� ..: �r,�•-�
<br /> � .. � for whatever is necessary w protect the value of the Ymperty and Lender's rights in the Pmpemr.Lend�'s acdons may include � ': �""""�
<br /> PaYing any sums secured by a lien which has priority over this Secvriry Instrament,aPP�S ���.PaNing reasonable ---�
<br /> ' attosneys'fees and ente.r�g on the Property w make repairs.A4hoagh Lender may take action und�this pa�a�raph 7,Lend�a , . '
<br /> • , does no1 have w do so. • . �
<br /> � My amounts disb�srsed by Lender undea this paiagr�ph 7 shall become addidonal deb!of Borrow�seciued by this Security �;:�
<br /> "i Insvume,nt Unless Bom�wer and Leaider agrcc to oth� terms of paymcnt,thae amo�mts shall bear inteaest from tha date of , .
<br /> Le
<br /> . ' . .I disbursement at the Note rate and shall be payable,with interest,upon notice from Lend�to Barrower requesting payment �
<br /> � S.Mar�gage Insarance. If Lender reqnired mortpge insurancc a4 a oondidon of making the loan sQanreQ by this Se�curity .. .. -
<br /> Instrument, Borrowca shall pay tde premiums requireA to maintain th�e mortgage insurance in effecL If, for any reason,the -
<br /> � j mortgage insurence coverage required by Lender lapses or ceases to be in effect,Hoaower shaU pay the preaniums required to • � , �
<br /> �j obtain coverage substantially equivalent to the mortgage inswanoe pnwioasly in effect,at a cost substantially equivalent w the , .
<br /> . cost w Bonowea of the mortgage insurance previousty in effcct, from an altranate mortga�e lnsure�approved by I.endea. If ' .: ' •�
<br /> substantially cquivalcnt mortgagc insurance covcrage is not avaitable,Boirowea shall pay tn Lende,r eacb month a sum equal to . � ' . �
<br /> on�tweffth of the yeariy mortgage insurance premium being paid by Borrow�when the ins�uance coverage lapsed or ceased w • •
<br /> � be in effec� Lender will aaoept,use and retain these paymcnts as a loss reserve in lieu of mortgage insorance. Loss r�e � .
<br /> ' 11 Form 8028 9t90 ' �
<br /> � �-8R(NEJc92+2).ot Pago3ote iNtia�s:
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