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<br /> � � � � � " g�- ��.�a�.3 � ` ,
<br />_ , . � � ' S.Harard or Propesty Insurence. Borrower shall�Ccep ihe imp.rovementv now existing or hercafter crtxtcd on thc Prope�ty , �
<br />_ • . iasured agaia.n loss by fire,hayaNs incladcd within thc tcrm "cxtcndcd covcxagc"and any other harardc.inctuding f�oadc or :
<br /> . • ' , � tlooding.for which Lendcr rcquires in.surancc.This insurance shal!be maintained in the amounts and far thc periads that Lcndcr � �.` ,
<br /> -_ cequses.'Ihe�suranee carrier pmviding the insuranc�shall be chosen by Bortower subject w l.end�r's approval which shall not ,
<br /> �� ; '� be unreasona6ly withhcld if Borrower fails [o maintain coverage de.scd6ed abave. Lender may,at Lender's option. obtain ,� ' ,
<br /> coverage w protect Lender's rights in the Property in acoordance with paragraF,h 7. _
<br /> y�'�" All incurance licies and reaewals shall be table tn Lender aad sl�alt include a standard mo
<br /> ' Pa �A rtgaBe clausse.I.cnder shail , , -�--
<br /> � � � i have the aghi to hold the policies and renewats.If Lender requires.Borrower shall prompdy give w Lender all receipts of paid °
<br /> `-''� remiums and reicearal notices.In the event of loss,Borrower shaU "
<br /> • ; p give prompt notice tn the insurance carrier and Lender.Lender �
<br />'� � � _ may make praoF of ioss if not made promptly by Borrawer. ��. :
<br /> �:; Unless Lender and Bormwer otherwise agree in writing,insurance proceeds shal!be appGed tn restoration or repaer of the
<br /> ' Property dacnaged,if the restnration or repair is a�nomically feassble and Lender's security is aot lessened.If the restoiation or �� �
<br /> j� _ repair is nat econamically feas�"62e or Lender's security wouW be Iczsened,the insivance pmceuis shall he applied tn rhe sums ` , ;� ,-'
<br /> r r �. , s� by this Security Inswmeat, whether or not thea� due,wirh any excess gaid m Borrower. If Bormwer abandons the
<br /> Propeaty,or does not answer withu�30 days a notice from Lender that the msurance canier has offeaed w seule a ctaim,then �` �`':`�
<br /> �.T, r Lender may collect the insuiance pmceeds.Lendea may use the proceeds to repair or restore the Praperty or to pay sums secaued .,`� ...'.�_,�
<br /> .'i' . , by this Seauiry Inswment,whether or not then d�e.The 30-day periad arill begin when the notice is givea. � "�
<br /> Untess I.euder and Boirower otherwise agree in writing,any appticabion of proceetJs to prirtcipal shall not extend or postpone ,: ,�='
<br /> ten
<br />.�;� the due date of the monthty payments referred to in paragraphs 1 aud 2 or chauge the arnount of the payments.If und�paragraph ' `°� . -" '�,�
<br /> .f� . 21 the Roperty is acynired by Lender,Barrowa's right tu any umsurance poficies and pmceeds resWling fram damage to the -'-;�� ':`��;��`;
<br /> ;u . , ProP�Y P�w the acquisition sLall pass w Lender to the extent of the sums saaued by this Security Instrument immediately � `'�-�••:�"�;�G
<br /> '��- : prior W t�e acqttisition. � -_i:' -
<br /> i� " 6.Occupaacy,Preservation,Maintenauce and ProYectton of We ProPertY; Borrower's Loan Appfication.Leasebotds. - __';�,.:;._:_-
<br /> i'' . Homower shall oocupy,establish,and use the Property as Borrower's principal residence withui sucty days after the execution of - -
<br /> :, � this Security Insv�ument and shall continue to occupy the Property as Borrower's principal residence for at least one year afta the . ,�,=�`
<br /> '.�� . . , date of occupancY, unless Lender otherwise agcees in writiag, wtuch consent shall not be uareasonably withheld,or ur�less '-- --
<br /> '`• ` extenuating c�stai►ces exist which are beyond Borrower's controL Bomnwer shaII not destroy,dauiage or impa'u the Property. ,:�: �rf
<br /> - • allow the Property w deteriorate,or cammit waste on the Property. Bomnwer shall be ui defavtt if any forfeidue action or
<br /> 'tl; . �,_-•
<br /> . . • proceeding,whether civil or criminal,is begun that in Lender's good faith judgment coWd resuIt in forfeiUue of the Property or :
<br /> ',;:
<br /> , _ . otherarise materially impair the lien created by this Sesurity Insuumeni or Lender's security interest.Borrower may cvre such a '..�••-'�
<br /> , i • defaWt and reinstate.as provided m paragraph 18,by caus�g the action or proceeding w be dis�nissed with a niling t1�at.in .'=':.---
<br /> '•� Lend�'s good faith determination,precludes forfeiture of the Borrower's interest in the Ptopeaty or othe,r material impairment of ' ''�t � °--
<br />_ � the tien created by this Security Instrument or Leader's security int�erest Bonower shall also be in default if Borrow�,dwing the � ..��'
<br /> � ' �• toan applicatian pmcess.gave materially faLSe or inaccurate information or statements w Lender(or faileA m provide Lender with . . . -
<br /> .` _ _� any mateaial informatian) in cormection with the toan evidenced hy the Note. including. but not limited tn. representatioas � '' "_
<br /> ' ,. 1 conceming Borrowes's occapancy of the P,roperty as a principal residence.If this Security Inswment is on a leasehold.Borrower " .'�'Y�
<br /> `+� t shall compty with all the pmvisions of the lease.If Borrowcr acquires fce 6t�e w the Property,the leasehold and thc fee tiQe shall ' .' �f �:
<br /> . �'•'j. no1 meage unless Lender agrces to the mergcr in writing. .„�=:
<br /> . � 7.Protection ot Lender's Rights fi the Property. Tf Borrower fails to perform the covenanis and agreements contained in � ' ��
<br /> '� ' . this Security lastrument,or there is a legal proceeding ihat may significantly affect Lendes's rights in the Property(such as a . _
<br /> ':{;. proceeding in baNwptcy,probate,for condemnation or fodeiuue or w enforce laws or regutabions),then Lende�may do and pay '' � �
<br /> for whatever is necessary to protect the value of the Properiy and Lcndcr's aghts in the Properiy.Lcnder's actions may include °:�
<br /> - ' ' , paying any sums secured by a lien which has priority over this Security Instrument,appearing in wurt, paying reasonable " -
<br /> '" attomeys'fees and entering on �he Property to make rcpairs.Alihough L.cnder may take action unde�r this paragraph 7,Lendsr � ��
<br /> � . docs not have to do so. � � �
<br /> �'" My amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security �
<br /> �f' , f Inswment Unlcss Boaower and Lerider agrec to othcr tcm�s of payment,these amounts shall bcar intcrest from the date of �� � '. '
<br /> - . 1 disburse�nent at the Note rate and shail be payabte,with interest,upon noticc irom Lender to Borrowcr requcsting paymen� � ."5r:`� . '.
<br /> . j 8.Mortgage Insasartce. If Lender rcyuired mortgage insurance as a condiGon of making thc loan secured by this Security • �. � .
<br /> •: � ��1 lnstrument. Bonower shaU pay the premiums required to maintain thc mortgage insurance in effect If, for any reason, the '
<br /> � j mortgagc instuance covetage requircd by I.ender lapses or ceases to be in effect,Barrower shall pay the premiums reqnired to , • :�` �
<br /> `•� obtain coverage substantially equivaIent to the mortgage insurance previously in effect,at a cost substantially equivalelet to the �� �
<br />-'�.'.'.; � cost to Borrower of the mongage insurance previously in effe,cl, from an altemate mortgzge insurer approved by Lender. If � �
<br /> , substantially equivatent mortgage insurance coverage is not available.Boaower sha11 pay w Lender each month a cum eqval to � �
<br /> ' , . one-twelfth of ihe yeariy mortgage insurance premium being paid by Boirower when the insurance coverage lapsed or eeased to
<br />::•,' ) be in effect Lercder will accep� use and retain these payments as a loss reserve in lieu of mongage insurance. Loss reserve �
<br /> 1
<br /> { �•HR(NE)�szi2f�o� Form3028 9l90 .
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