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<br /> , • � � S.Hazard or Property Insoranoe. Barrower shaU keep the improvcments now existing or hereaher on e perty � :r r ;
<br /> . insured against 2oss by firc. ha�rards included within the tea�u "eatended coverage" and aay other hazards,inc(uding ftoads or . _- � .
<br /> • flaoding.for w6ich Leader req�res insurance.This inss�rance shall be mauitained in the amounts and for the peaiods that Lcader . , . .
<br />,i� . . • requues.'[he insurauce carricr providing the iasuranoe shali be cdosen by Borrower subject co I.ender's approvai which shall not .. ._t,. .._
<br /> - • -- -,- be unre�ombly wi�hhctd. If Borrowcx fails ta maintair� caverage desa�ibed above, Lc�rtder may, at Leader's opuon, obiain -- -- -_- -
<br />_ coverage to pmtsct Leader's rights in the Propeaty in accordance with paragraph 7. - ,4
<br /> � • All insivance poticies and renewals shall be acceptabte ro L,ender and shall include a standard mortgage ciause.Lender shall ..`-`4
<br /> � • � have the right w hold the poliaes�d renewals.If Lemder re�uues,Borrower shaIl prompUy give to Leuder all recei�u of paid � � ,�''�` � •
<br /> ` ' premiums�r►d renewat noaces.In the event of toss,Borrower shall give prompt notice m thc insurance carrier and Le�dci.Lender � � , •
<br /> _ may make praof of loss if not aiade psompuy by Boirower. . `
<br /> 'i � ' Uuless Leuder and Bomnwe�otheawise agree in writing,insu�nce praceeds shaD be applied to�storarion or repair of the --
<br /> _ . • � "� PmP�Y�8ed,if the restnration or repa'u is economically feas�le and I.endea's seauity is not Iessened.If tLe restosa�on or _ `. "�""''=-
<br /> - . . , repaa is not aconomically f�ble or Leader's secUrity wonld be tessened.the ins�aance proceeds sdall be agplied w the sams •c.; �..:`,_
<br /> '.. . •� sesnred by this Serurity Instrument, whether or aat then due, arith any excess paid to Bnrrower.If Borrower abandons the . '' ' _-
<br /> �'' � Property,or does not answer within 30 days a notice from Lended t1ra1 the insuzance carrier has offcxed ta seule a claim,then �� ,
<br /> - . L,eader may collecE the insvrance pmceeds.Lendes may use the pinceeds to repair or restore the Property or tn pay sums secured ` . .
<br /> ` � by this Security Instrurnent,whether or nat then due.The 3Q-day paiod w�l begin wtien the notirre is givea.
<br /> '` � Unless Lendea and Barmw�otherwi�e agree in wrising,any applicarion of proceeds to principal shall noi ea�teatd or postpone
<br /> � the dae datc of We monthly payments refetred to in paragraphs 1 and 2 or change the amount oF We paymeat�.If ander paragraph , - - _ -
<br /> ' , � 21 the Property is acguired hy Lende,r,Bormwea's right to any ms�rance policies and pmceeds resutdng fmm damage to the
<br /> i: ' � . ' Propeacy prior w the acquisition sha�i pass w Leader to the eatent of the sums secured by this Security Instrument immediatety y-'� �.
<br /> ,. prior w the asquisi6on. - -- —
<br /> ' •� "L, 6.Occupancy,Preservation,Maintenance and Protedton of We ProPeriy; Borrowe�s Loan Ap�pfic�ation;I.easeBolds. `. .`�•`�'
<br />-;�= � . . Borrowea shall occupy,establi�,and ase the Propeaty as Banower's prinapal residence within s'vcty days afux the eaeaition of ::`..�.R --
<br /> r� �__�
<br /> ;°� �j tius Scxurity Inswment and shall continue to accupy the Pmperty a4 Borrower's principal residence for at least one year aftea the ••`'���
<br /> �...,�.b;,�w- -
<br /> �`'� � , • ; date of oocupancy, unless Lea�der otheiwise agrees in writing, ahich cons�t shall not be unreasonably withheId,or unless -_
<br /> -� � eatr,nuatmg circamstaaces eaist which are beyoad Bomnwa's wntrol.Bomnwer shall not destray,damage or impair the ProPeily, `..��;;,p�_�.
<br /> �_:
<br /> • aliow the Property to deteaiorate.or commit waste an the Propeny. Borrower st�all 6e m default if any fnrfeipue action or ;�-°��=��:-�
<br /> ;`� � • : pmceeding,whether civil or criminal,is begtm that in Lender's gaad faith judgmeat wuld result in forfeiwre of the Property or . ` � -.,;�
<br /> othera+ise matetially impafr�the lien created by this Security Inspvment or Lender's security intenest.Boirower may cure such a . • ' •":' ;:_�=
<br /> .' a defanit and reinstate,as provided in paragraph 18,by cansing the aaion ar proceeding to be dismisseci with a mting thai.u� . ': .
<br /> '; Lender's good faith determination,pretludes forfeitiue of the Borrower's uiterest in ihe Property or aiher materlal impairment of .: � � ,__
<br /> , '. the liEn created by this Seauriry Inswment or Lendea's security interest Bonowed shall also 6e ia defaWt if Borrower,duciag the . � ..,.;;�-�
<br /> � loan application pracess,gave maicaially faLse or inaccucate information ar statements tn Lender(or failed w provide Lender with •• ��t°
<br /> '•�.;._�
<br /> . any material informauon)in connection with thc loan cvidenced by the Note, including, but not limited tn,representations _.4�,
<br /> t':< • concemmg Borrower's oc�cupancy of the Property as a principal residence.If this Securiry Insirument is on a teaseho2d,Borrower � � ' `
<br /> , , shall comply with aU the provisions of the lease.If Borrower acquues fee tiue w the Froperty.the teasehold and the fee title shaU '�-
<br /> .�' . not mergc unless I.ender agrees to the merger in writing. : ;-'
<br /> "''' �Protect�on of Lender's Rigbts in tlie Property. If Borrower fails to erform the covenants and a , � . � --
<br /> • :� P grecmenu contained in "�'.
<br /> '•,::.� � this Security Instrument,or thae is a legal proceeding �hat may significandy affect Lender's rights in the ProPatY(such as a �� � �-
<br /> :• � � yroceeding in bankruptcy.probate.for condemnation or forfeiture or w enforce laws or regWations),then I.ender may do and pay :, :�: �_;_
<br /> ' for whatever is necessary to protect the valae of the Propcaty and Lended's rights in the Properry.Lender's actions may include
<br /> .F;:� paying any sums secured by a lien which lias priority over this Security Instrument,appearing in court,paying reasonable •
<br /> ' i . attomeys'fces and cntering on the Property w make repaits.Although Lcndcr may take action under this paragraph 7.Lcnder :' ',.
<br /> does not have to do so. , , .
<br /> �:; � ' Any amonnts disbursed by Lender undcr this paragraph 7 shall become additional debt of Borrower sec�ued by this Security ..' �
<br /> `� � ' Insuumen� ilnless Borrower and I.ender agrcc tn ofhcr terms of gayment,these amounts shall bear interest from the date of • `
<br /> � disburscmcnt at the Note rate and shall be payable,a+ith intcrest,upon nodce from Lendcr to Borrower requesting payment. '
<br /> � S.Mortgage Insnraace. If Lender required mortgage insurance as a condition of making the loan secured by this Security � � �
<br /> .`= ; � � •� Instrument, Bmrowcr shall pay the premiums required to maintain the mortgage insurance in cffcc� If, for any reason, thc . � '
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to • � �
<br /> ! obtain wverage substantially cquivatcnt to thc m " �
<br /> ortgage insurance previously in effec�at a cost substantially equivatent ro the �
<br /> . + cost W Borrower of the mortgage insurance previously in effec�from an altemate mortgage insurer approved by L�ender. If �
<br /> ! substantially cqnivalcnt mortgagc ins�rancc covcragc is not available.Horrowcr shall pay to Lcndcr cach month a sum equal to
<br /> . on�twelfth of the yearly mortgage insurance premiiun being paid by Bonower when the insurance coverage lapsed or ceased to • � �
<br /> be in effec� Lendcr will � �
<br /> accept, use and retain these payments as a toss reserve in lieu of mortgage insuranee.Loss reserve �
<br /> � � Form 3028 9/90
<br /> • ; �•6R(NE)(s2�2�.0� aapo 3 oi s i��na�s: � .
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