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<br /> ' S.Hazard ar Property Inssmrrance. Borsow�shall keep the imgrov�euts now existing or he�eafter erected on ohe Prope�ty `: `
<br /> � � insured Eoss �e,ba7ards included within the te�m "eataeded cov ' • t (.
<br /> againss b3' aage"and any aWer harards,induding floods or
<br /> � `� floodiag,for which Leuder ieq�es msuiance.Thic insurance s6all be maintained'ui the amounts and for the periods that L.ender � � '
<br /> . .- � require,s.The insivance ca�rier pioviding the insurance shall be chosen by Bonower subject to Leuder's approval which shall ao2 �. ' -:, - �
<br /> --.--- - 6e unma.mnably wiihketd. If Borrower f�s to tnaitttam covea•age descd�ed above, I.ender may, at Lettder's option, obfain � -,,=: , -
<br /> ` cav e w tect I.ender's t:
<br /> ; �S P� rights in the PaQperty in zocordauce witb paragraph 7. �
<br /> �' All�s�ance po&aes and renewaLs shall be accegiable to I.eud�and shari incLide a srandard mortgage clanse.Lender shali '� � . -
<br /> - dave the right to hold the policies and re,aewals.If Lender�qai�es,Bosower shall promp8y give tn Iradea all receipts of paid -:
<br /> , ` premiums and iencwal notices.In the eve�t of Inss,Borrowa shaU give prompt aotice w We ins�aance r,arrier and I.e�der.Lendcr .. . '
<br /> ' ` may make praof of toss if aoi urade promptty by Bonower. • ,
<br /> . . . Unless I.cader and Hoaower otheawise agree in �vrita►g,insurance procceds shall be applied to restoration or iepaa of the ,:'•• ;:�� '
<br /> � . � ProPerty daraaged.if the reswration or repa'u is economicaIly feas�le aad Lender's secauity is not l�ssened.If the restoratioa or �'•`� *;:�` �...
<br /> ' repair is not economic�y feas➢ble or LQader's sec�uity woutd be l�ed,�e msurance proceeds shall 6e apptied w the sums • � � � ---
<br /> • . secured by this Sccauity Ins�ment,whethet or aot then due. wid�any excess paid m Borrower. It Borrower abandons the . - . . ."�.:='
<br /> , Property.ar does not answer within 30 days a nodcc from Leader t1�at the ins�nance carrier bas offered w seute a claim,thea - .--- -
<br /> � Lcnder may coltect the insurance pmceeds.I.ender may use the pmceeds w repair or teswrc the Property or to pay st�ms sec�med ' .. .'",°__
<br /> . by this Sec�uiry Insuument,whcther or aot then due.'Ihe 30-day period will 6egin whea�he aotice is given. , ;• �=:i
<br /> . Unlesg Lender and Bonowcr othawise a ia writin ,an lic�awon of �= '�x•�`.. :
<br /> B� g Y ePP p���p���not extend or postpone . . . �,--
<br /> . 'Y? .^<i=—
<br /> , t�c due data of the monthty payments refetred ou in paragr�hs 1 and 2 ar change the amo�at nf the paymeats.If under p�agrapb . • •f F: =;y-
<br /> 21 tt�e Property is acquirQd 6y[.endea,Borrower's right to any insurance policies and praceeds resulting from damage w the -��'`� =�-
<br /> � � . �D�l'Prior to the acquisi6on shall pass w Lender w the eatent of the swns secured by this Sec�rity Insuument immediately . `� �
<br /> ' ' prior w the acqui4ition. •. ' �.�',�
<br /> 6.Occnpaacy.Presesvattoa,Maintenance and ProtectIon oP the ProPertY; Borrovs�er's Loan Appllcation,l.ease6o2ds. • -�•`�...
<br /> .: Barmwer shalt occupy,esta6lish.and use the Property as Bomnwer's principal residence arithin siaty days after tiie execution of ,. �"':,v�. �.
<br /> si
<br /> . this Security Inswment and shall cantinue to oocupy the Pmpaty as Borrowed's priucipal�esidence for at least one year aCter the �•',��. �.`; ��,.
<br /> ,. date of occupancy, unl;ss Lea►dea otheawise agr�ees in writing, whicb consent shall not be anreasonabty arithheld,or unless . _ -
<br /> extenuating circurnstances exist which are 6eyand Borrowea's conuol.Borrowa sSaU not desuoy,damage or IIupaior the Propeny. _ ,�. �'
<br /> ,� altow tlic Pmpecty to deteriorate,or commit waste on the Property. Borrower �.�haU be in default if aay forfeiAue action or ' '�"�f �'�
<br /> i proceeding,whether civil or cximinal,is begun that irw Lender's good faith judgm�t could resWt ia forfeiture of ihe Propcaty or . . •:.'.��_
<br /> . ' otherwise materialiy impair the lien created by this Security Insaument or I.ender's secnrity int�st.$olrower may cure such a `'
<br /> i� `�'.-f��
<br /> { default and reu�state,as provided in P�S�Ph 18.by causing the acGon or proceeding w be dismissed with a ruliag that,in '' :,-�;�--
<br /> Lender's good faitb detesIIninauon,preciades forfeiuue of We Bom�wea's intecest�the Praperty or oth�mateaial impairment of ., .,'' � ; .;;;��
<br /> the tien created by this SeGUity Instrument or Lender's security interest.Sorrower shaU also be in default if Bmrower,dum�g the - �
<br /> � toan application process,gave materially faLse or inaccuratE informaUnn or statements w L�ender(or failed w pmvide Lendes with `,�'�;
<br /> any material info�on) in connection wilh ihe taan evidenced by the Note, including, bui not limited w. representa�ions � �����i"_-
<br /> � canceming Borrower's occnpancy of the property as a principal residence.If this Security Instrument is on a leasehold,Borrawea . . . ;;:;,�.
<br /> � shall comply with all ths provisions of the lease.If Borrower acqnires fee title to t�e Property,the leaseho2d and the fee titte shall � �*`
<br /> � not merge unless Lender�rees to the mer e,r in writin . �F�
<br /> , . & 8 •.��.,
<br /> . 7.Protection oY Lea�er's Rtghts in the Property. If Boaower fails to perfarm the covemants and agreements contained in � .. `Ya-��
<br /> • _ � U»s Security lnstrument ar there is a L.gal Proocedin8 that may signiticanily affect Lender's rights in the ProPertY(such as a �. ';=.
<br /> { proceeding In baniwpicy,probate,for condemnation or forfeiiure or to enforce laws or regulations),then Lendc7 may do and pay ,,
<br /> :t for whatcvea is necessar�:to protect the value of the Property and I.ender's rig6rs in the 8ropeny.l.ender's actians may include . •
<br /> . , f paying any sums secured by a lien which has priority over this Security InsUument, appearing in cow1, paying reasonable
<br /> attomeys'fees and entering on 1he Property w make repaus.Although Lender may take ac6on under this paragraph T,Lcnder � .
<br /> � ,� daes noi have w do so. . . .�.. .
<br /> � ± My amounts disbwsed by Lcndcr under this yarag�h 7 shall become additional debt of Borrower sccurcd by this Security •
<br /> � Instrumcn� Unless Boaower and Lendcr agrce tn other terrt�s of payment,these amounts shall bear intcrest from thc date of
<br /> � disbursemcnt at the Note rate and shall be payable,with interes�upon notice from Lcndcr tn Borrower rcqucsting paymen� � �
<br />. , 8.Mortgage Insurance. lf Lcndcr requued mortgage insurance as a condition of making the ban secured by this Security
<br />° � Inswment, Borrowcr shall pay the premiums rcquired tn maintain the mongage insurance in cftec� If. for any rcason, the � • . �
<br /> ; mortgage ins�rance wve�gc required by Lender lapses or ccases to be in effec6 Borruwer shall pay tho premiums required to ' � .
<br /> abrain coverage substznually equivalent w the mortgage insurance previously in effect,at a cost substandally equivalent t�the '
<br /> _ cost to Boaower af the mortgagc ins�rancc prcviously in effeet, from an aItemate rtiortgagc insurcr approved by Lendcr. If � � •
<br /> rcr
<br /> substantiaUy equivatent mortgage insurance coverage is nol availabte,Borrower shall pay to Lender each month a sum equa]to
<br /> j onatweifth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ccased to � '
<br /> ; be in effec� Lertder will accepi, use and retain thcse payments as a loss reservc in lieu of mongagc ins�rancc. Loss reserve • �
<br /> . � •
<br /> , Form 3028 9/90 � ' '
<br /> �•8R(taE)te2�z�-o, vapo 3 oe e imuau �
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