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<br /> 5. Hazard or PropertY In�rarnnce. Burrow�r shull kcep thc improvements now cxis�ing c�n c�rcaftcr crcctcd c�n thc
<br /> Property insurcd against loss by firc, hu•r.urds includul within thc tcnn"extendeci covcragc°and uny inhcr hnr�irds, including ,
<br /> floods or flooding. for which Lendcr requires insurum:c. This intiuruncc+hull bc muintuincAi in thc umuunts und For thc periods
<br /> thut Lendcr rcquires. Thc insurancc curricr providing thc insurancc shall bc chnscn by Hoerowcr tiuhjcrt ti� l.cnycr's upprovnl ���
<br /> which shall not be unreasonubly withhcld. If Bnrrowcr fuil+tu muin�ain cu��cragc dcscrihed uhove. Lender mt� u L,endcr's . i
<br /> „ . ;d`- option, obtuin coveruge to protect Lender's ri�hts in the Property in accardunce with pnragruph 7. _
<br /> - All insurunce policies and renewuls shall be ncceptable to Lender and shall include a stundard monguge rlauxe. Lenucr `
<br /> �::risw�' ve thc ri ht to hold thc olicies and renewals. If l..ender rcyuires, Borrower shall promptly givc to Lendcr all re�eipts of �y_t.
<br /> shMll hR g P -�-
<br /> `'M'"`"" '"R`' paid premiums and renewnl notices.ln the event of loss, Borruwer shall give pronipt nc�tice to the ii�surii��e carrier unJ L.eiider.
<br /> Lendcr may makc proof�f loss if not madc promptly by Borrower.
<br /> '' Unless L.ender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restc�rution or repair of the /���
<br /> �,. ._..
<br /> Propeny damaged, if the restoration or repair is economically feasible and Lender's security is n�t Iessened. If the restorution or �_
<br /> repair is not economicalfy feasible or L.ender's security would be Iessened,the insuranee proceecis shall be applied to the sums ��_,
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the �"�"
<br /> ��_
<br /> Property,or does not answer within 30 days a notice from Lender that the insurance carrier hus offered to setde u claim,then �,�__-
<br /> � . Lender may collect the insurance proceeds. Lender may use the proccecls to repair or restore thc Property or to pay sums
<br /> ' secured by this Seci�rity instrument,whether or not then due.The 30-dey period will begin when the notice is given.
<br /> �'• Unless Lender and Borrower otherwise agree in writing, any application of procecds tu principal shall not extend or —
<br /> �� postpane the due dare of the monthly pAyments referrecl ta in paragraphs l and 2 or change the amount of the paymcnts. If
<br /> • � under paragraph 21 the Property is ucquireci by L.ender, Horrower's right to any insurance policies und proceeds resulting from �.
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument �.-:'
<br /> immediatcly prior tc�the acquisition. --
<br /> � 6. Occupancy, Preservatlon,Maintenance and Protection of the Property; Borrower's I.oan Application; Leaseholds.
<br /> - Borrower shnll occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principnl residence for at Ieast one year after
<br />--• ' �.t the date of occupuncy, unless L.ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> r����: extenuating circumstonces exist which are beyond Borrower's control. Bonower shall not destroy, damage or impair the
<br /> �� Pronercy, allow the Property to deteriorate, or commit wastc on thc Praperty. Borrower shall be in default iC any forfciture
<br /> :-_°::,.�;�
<br /> •..,,,'., .,., . action or proceeding,whether civil or eriminal, is begun that m t..enders good iaiif�juJbi��cr�i caulu resu�:in fosfe:C!!ie^f 1he
<br /> ;u�`��� Property or othenvise macerially impair the lien created by this Securiry Instrument or L.ender's security interest. Borrower may
<br /> '.i,'�:'-� •� cure such a default und reinstate, as provided in paragraph 18, by causin�the action or praceeding to be dismissed with a rulins
<br />--'�`�'�"°ia.�' that, in Lender's good faith determination, precludes forfeiturc of the Borrower's intcrest in the Property or other material
<br /> ,���.4-•
<br /> �,_�A;;y'� ' impairment of the lien created by this Securiry Instrument or Lender's security interest. Borrower shall also be in default r
<br /> -..ivKp�,� Bonower,during the loan application process,gave materially false or inaccurate information or statements ta L.endcr(or failed
<br /> ___-;;�;-� to provide Lender with any material informatian)in connection with the loan�videnced by the Note, including,but not limited
<br />- �:.�,>.�r.� to,representations conceming Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
<br />�.---`�>�� leasehold, Borrower sh�ll comply with all the provisions of die lease. If Aorrower acquires fee titic to the Property, the
<br /> -_��:� leasehold and the fee title shall not merge unless Lender agrecs to the merger in writing.
<br /> .y_�i,.�
<br /> -�:��*�� 7.Protecdon of LRnder's Rlgh�s In the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> -�-�-� this Security Instrument,or there is a Iegal proceeding that may significantly nffect Lender's rights in the Property (such as u
<br /> i--== proceeding in bankruptcy, probatc, for condemnation or forfeiture or to enforce laws or regulations), then L.ender may do and
<br /> _.._._.� pay for whatever is nexssary to protect the valuc of the Property and Lender's rights in the Propeety. Lender's actions may
<br /> include paying any sums secured by a lien which has priority over thit Sec;urity lnstrument, nppearing in court, paying
<br /> - reasonable attorneys'fees and enterin�on the Property to make repairs. Although Lendcr may take nction under this paza�;raph i
<br /> - 7,Lender dees not have to do so.
<br /> _�""_-__ Any amounts disbursed by Lender under �his parag�uplf 7 sh�all bccomc additional debt of HonrW�� �ecured by this �_
<br /> __�.,,,,T,.� Security Instrument. Unless Rorrower and L.ender agree to other terms of payment, these amounts shall bear interest from the
<br /> date of disburs�ment at the Note ratc nnd shall be payable, with interest, upon noticc from l.cndcr to Borrower requesting
<br /> � payment.
<br /> --- S.MortgAge Insurnnee.If Lender required mort�age insurance as a condition of making the loan secured by this Security
<br /> -- Instrumcnt, Borrower shail pay the premiums required to maintain the mort�a�e insurance in effcct. If, for any reason, the
<br /> �- —_- mort�age insurunce coverage requircd by L.ender lapses or ceases ta be in effect,Borrower shall pay the premiums reyuired to
<br /> -��'�'�" obtain coverage substantial{y equivalent ro the mortgage insurnnce previously in effect, at a cost substantially equivalent to the
<br /> -=:�'�� cost to Borrower of the mortgagc insurancc previously in effcct, from an alternntc mongage insurer approved by Le:ndcr. If
<br /> - �•:t=;';' substantially eyuivalent mortgage insurance corerage is not available,Borcower shall pay ro Lender exch month a sum eyual ta
<br /> ���;`'��! ,'•: �•' one-twelfth of the yearly moitgage insurance premium being paid by Borrower when the insurance coverage lapse.i or ceased ro __
<br /> ��'�"u"'�" "� be in effect.Lcnder will accept, use and retain thesc paymcnts as a loss rescrvc in lieu of mongagc insurance. Loss reserve —
<br /> ,�� �' '•:ti • Form 3028 9/90
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