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<br /> ' S.tlarard or Praperty I�essurauce. Borrower shall I�cep the improvements now esisting on c�rcafter erected on the Prope,rty R•` ' •. •.
<br /> � . :� � � . ..
<br /> , insurcd against loss by firc.hazards included within the term "extended coverage"and any ather ha7ards,incIading tloods or � � 5;.
<br /> • � [laoding.for which I.ender requires insurance.'Ihis ins�uaace shall be maintaiaed in thc amounts and for the periods that l.ender ; . ,•'`
<br /> - �� � requires.'Itie insurance ca�'ricr pmvidmg the insivance shall be chosen by Bonower subject w Lender's approval which shall not � -- -, - - -
<br /> � be uureasonab l y withheld. Ii Borrower fails tn maintain covedage descn'bed above. Lender may, at l.euder's oprion.obtain � �
<br /> �; coverage to prouxt l.ender's rights in the Property in accordance w i t h paragrap h'7. _ . '.
<br /> . � All insurance policies and renawals shall be acceptabk to Lender and s6all incWde a standard mortgage clau�e.Lender sAall
<br /> have the right w hotd the policies and tenewals.If Lender t�equims,Baaower shall pron►P�Y Bive to Lended all receipts of paid •
<br /> , , �. premiusns and renewal notices.In the event of(oss,Borcower shall give prompt notice to the insutance rarrier and L.ender.Lender
<br /> . , .� may make proof of ioss if aot made pmmptly by Boirower. _ ':,", ..
<br /> Unless Lender and Bormwer oWeawi.se agree m wririnS,inswance pmceeds shall be applied m r�wiation or repair of the , ;�:�'. ,.
<br /> : � pmperty+damaSed,if the resroralion or repair is economically feasibte and Leader's sec�uity is not tessened.If the reswration or :;,,.
<br /> � repair is not economically feas�bte or Lender's srcuriry would be lessened,the insurance proceeds sha316e applied w the sums �. '
<br /> . � secured by this Security Insw�eent,wttether a�r not th� due,arith any excess paid to Borrowra.If Borrower abaudons the .. _�
<br /> . Pmpeaty,or daes not answer within 30 days a notice from Lender tbat the insurance ca�ricr has offered tn seNe a ctaim,then � . . �'.
<br /> . . � l.endea may coltect the insurance procee�s.Lrnder may use the proceeds to repair or restore the Pioperty or w pay svms seaued � „ �.:� �. .=
<br /> � by t h i s Securi ty I n s�u m e n t,w h e t h e r o r n o t t h e n d u e.'Ihe 30-da y p e a i od will begin whea the notice is given. } �,y.,__`
<br /> [3ntesc L,�der arcd Bormwea othawise agree in vrritin8,�Y 8PPlicatioa of proceeds to principal shall not eatend or postpone i . `, ,.�",��. .:.- -
<br /> � the due date of the monthlY paymentc referred w in paragraphs 1 and 2 or change the amount of the p�yyments.If ander paragraph _ --- � �
<br /> ;�. 21 the Property is acquired by Leader,Borrower's right to any insivance po&cies and pmceeds resvlting from damage to the � _•�`• <..�_..,,
<br /> � �:;:.,, .: �.��
<br /> Propaty prior w the acquisition shall pass w Lender to the extent of the sums secured by this Security Instrume�►t immediately . ,.r:�.--�—
<br /> ; ���' ' .{:
<br /> � prior to the acquisition. - '
<br /> 6.Occupancy,Pceservat�on.Maintenance and Protection o!the Property; Bflrrower's Loan Appfication;Leaseholds. , �
<br /> Borrowea sl�all accupY,establisb,and use the Pmpaty as Bomower's principal residence within siuty days afte�the execatioa of :,.; :'', '�`
<br /> � tbis Security Inswment and shall cantinue to accuPY the Prop�rty as Boirowea's princiipal residence for ai least one year aft�the •':+�. �; ---
<br /> date of occupancY, unless Lender otheawise a� in writing,which consent shail not be unreasonably withheld,or unles4 . -
<br /> ' e�uating circiunstances exist whicb are beyond Bocmwea's cantrol.Borrower sl�aU not desuoy,daznaSe at imPau the ProP�Y• -
<br /> allow ihe Propercy to deteriorate, or commit waste on the PropeRy.Hoirowa shall be in default if any forfeitare action or =
<br /> • pmceeding,whether civil or criminal,is begon that in Lenda's good faith judgment cauld resWt in forfeiture of the Property or . _—�
<br /> otherta+ise materiallY impair ihe lis�►created by this Secw�ity Inswment or Lender's socuriry interest.Borrowea may cure sach a � ''f �r'a`
<br /> ' defautt and reinstate.as prnvided in paiageaph 18.by caosing the acaon or proceeding w be dismissed witt�a niling thai,in '..`�;•'.!.:. --
<br /> � Lender's gaod faith detertnination,Prccludes forfeiwre of the Borrowe�'s interest ia the Propeaty or ather material impairment of :``" �`' ;��-
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<br /> � the lieu created by this Security Insirument or Lender's security interes�Bosower shall also be in defauIt if Bormwer,during the . °. �• ��,:-_
<br /> • toan application process,gave materially false or inaccurate infomiation or statements to Lender(or failed m provide I.ender with ' , "� �=- •
<br /> � ..��P'='
<br /> an y mat�rlal information) in connedion with the loan cvidenced by the Note, inclading, but not limited w. representaaons !!�;;. ,:;�.��:
<br /> � ' concerning Bonower's occupancy of the Property as a principal residence.If tlus Security Instnunent is on a l e a s e ho l d.B o r ro w e r . : • "°
<br /> • shall wmply a►ith aU the provisions of the lease.lf Bonower acq�res fee tide to the Property.the Ieaschold and ihe fee title shall , . . ' ;:;a'�
<br /> • � not me�rge unless Lcnder a�ees to the merger in writing. ;•���;.
<br /> � ' . ?.Protedtoa of l.ender's Rights in the Property. If Borrawer fa�s to perform the covenants and agreements cantained in , ..'"�"..
<br />: . � �i this Seciuity Insuument,or therc is a legal proceeding tLat may signiticantly affect L.e,nder's rights in the ProPenY(such as a _ �` '„ �., :` =
<br /> : � proceeding in bankruptcy.probate,for condemnation or fodeiture or to enforce laws or regulations).then Lender may do and pay � : .�'`"u':�
<br /> ; for whatever is necessary co protect the value of the Property and I.ender's rights in the Property.Lender's acdons may inciude
<br /> � � PaY�B �Y sums secured by a lien which has priority over this Security Insuument,appearing in couct,PaYing reasonable .. .�
<br /> auamcys' fees and cntering on the Froperry w make repairs. Aithough Lendcr may take acdon under this pa�aph�.Lender -,.
<br /> � � does not havc w do so. � '
<br /> � Any amounts disbvrsed by Lender under ihis paragraph 7 shall became additional debt of Borrower secured by this Security ,. ..' .r . .
<br /> Insuumen�Unless Borrower and Lendca agree to other terms of payment,Uicse amounts shall bear inicrest from thc date of . . ,
<br /> � disbarsemcnt at thc Notc rate and shail be payabic,with inudest,upon notice from Lcndcr w Bonower requcsting paymcn� : . .,
<br /> � S.Mortgage Insurance. lf Lender required mortgage insurance as a condition of makirig the loan sccured by this Security
<br /> Instrument, Borrower shall pay the prcmiums reqnired to maintain the mortgage insurance in effect. If, for any rcason, the t •.
<br /> : � mortgage insurance coverage required by I.ender lapses or ceases to be in effect,Borrower shall pay the premiums raquired to •
<br /> i obrain coverage substandally equivalent to the mortgage insurancc previously in effect,at a cost substantially equivalent w the
<br /> � cost to Borrower of the mongage insurance prcvionsly in effcc� from an altcmate mortgage insurer approved by Lendcr. Ii
<br /> substantially equivalent mortgage insurance coverage is not availablc.Borrower shall pay to Lender each month a sum equal to
<br /> • � on�twclfih of the yearly mortgage insurance premium being yaid by Boaower whcn the insurance covcrage iapscd or ceased to
<br /> � be in effec� Lender will accept, use and retain these payments as a loss resetve in licu of morigage insurance. 1.oss reserve
<br /> �s
<br /> Form 8028 9►90 • . �
<br /> � � �-8R([�tE)192tz�.ot Pago�ot e in�t�aia: � .
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