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<br />- �..� �' �' `��,. 5. �rd or property Iasucance. Borrower shall keep the improvements now existing or hereafter erected on the . <<
<br /> y' ` � Property in5ured against lass by fire. ha7ards inc[udPd within the term "extended coverage"and any other hazards. inctuding� `` � ``r
<br /> . �<.. .,
<br /> ' � floods or flaading,for which Lender requires insurance.7'his ir�surance shall be maintained in the amounts and for the periads� -
<br /> ' . . , thai Lender requires.The insur�nce carrier providing the insurance shall be chosert by Borrower subject to Lender s appmval � ` " •:::�� .
<br />_ • ' -' w}uch shaU not be unmasonably withheld. If Borrower fails to maintain coverage described above. Lender may, at Ixnder's � �"-�<�_�; `..• 4,.�•.
<br /> .,��,;<}. option,obtain coverage to proted Lender's ri�hts in the Property in accoTdance with paragraph 7. � } `
<br /> ; All insarance policies and reaewals sball be accepta6le to Lender and shall include a standard mortgage clause. Lender
<br /> shall have the right to hold the poGcies and rer►ewafs.If Lender requires,Borrower shall prompdy give to Lencler all receipts of �•
<br /> �'`�` paid premiums and renewal notices.In the event of loss.Bornawer shall give prompt notice to the insurance carrier and Lender. � :� ��{�_`` �•;:•
<br /> , . .�� � Lender may make proof of lo�s if not made prompdy by Borrowet. � �•Q.�•:� _
<br /> Ual�s Lendes and Borrower otherwise agree in writing, insurance prooeeds shall be applied to restoration br�pair of the `4.' '
<br /> .:,.. .. ... _. :.- ,
<br /> . .._ _.. .__.. � Property damag�.if the restordtion or repair is econamicaily feas►'t�te and Lender's security is not lessened.If the mstotatioa or • -
<br /> . ',i:; repair is not economically feasible or Lender s security would be lessened,the ins�rance proceeds shall be applied to the sums ' �,°.=f;:�:=�
<br />` � . s�by this Security Instrument, whether or not tken due.with any excess paid to Borcower. If Borrower abaicdons the `""-""_`
<br /> � Property.or daes not answer within 30 days a notice from Leuder that ihe insurance c�rrier has offered to settle a claim,then °�'�`""'`';'
<br /> ;.=,,' L.ender may collect the insurance procxeds. Lender may use the praceeds to repair or restote the Property or to pay sums � __
<br /> _ . 4. , . . . secured by this Security Instrument,whether or not then due. The 30-day period will begiin when the notice is given. -
<br /> �� , � ` Unless Lender and Borrower otherwise agree ia writing,any applic�uion of proceeds to principal shaU not e�or ' •` .�°
<br /> �° ` postpane the due date of the montlily payments referred to in paragraphs 1 and 2 or change the amount of the payments. If �:'���� � ' _
<br /> under paiagrdph 21 the Property is acguired by Lender.Borrower s right w any insurance policies and proceeds resulting finut _
<br /> . � • . damage to the Property prior to the acquigition shall pass to Lender to the exteat of the sums secured by this Secarity Instrumem • T�=
<br /> _ immediately priar to thc acquisidon. ,��.
<br />..: :Y.:.::._.-;.r�: � • 6.Occa " =-
<br /> ----_ .. _—. .�,• paacy,Preservation,Malntenaa�ce and Protectton of t6e PropeetY;Borrower's Loan Appltcatioa;�.easehotds. �-.�_
<br /> � .� Eorrower shall occu establish.and use the Pro e as Borrower's nnci al residence within si da s after t9�e viceairion of ' '��'-'�
<br /> ` .,. PY• P rt3' P� P �Y Y �'.'�::.`• �. .
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<br /> " , this Security Instrument and shall rnntinue to occupy the Property as Borrower's principal residence for at least ane year after ,--_
<br /> • � the date of occupancy,unless Lender otherwise agrees in writing.which consent shalt not be unreasottably withheld.or unless ��_
<br /> ''=� I - extenustin g cir c u m s t a n ce s exis t w h i c h ar e b e y o n d B o r r o w e r's c o n t r o l. B o r r o w e r s h a 1 1 n o t d e s t r o y, d a m a g e o r i m p a i r t h e ' �-••�-_����`
<br /> n� _
<br /> - ,�•- - - Pioperty,allow the Property to deteriorate,or commit waste on the Praperty. Borrower shall be in defauli if any forfeitute , - __
<br /> • . � actian or proceeding.whether civil or criminal, is begun that 'sn Lender's goad faith jadgment could msult in forfeittue of the ���=�
<br /> , ' , Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower.may � �,: , ' --�-
<br /> ' cure such a default and reinstate,as provided"m paragraph 18. by causing the action or procceding to be dismissed with a ruting • : _ _
<br /> �- that, in Lendei s ood faith determinatian, recludes forfeiture of the Borrower's interest in the Pro or other material �'-"•"�
<br /> S P Pert3' '��:�-
<br /> � f��i impairment of the lien created by this Security Instrument or I.ender's security interest. Borrower shall also be in default if �
<br />_ ' • ""% Borrower,during the loan application process,gave materially false or inaccvrate information or statements to Lender(or failed :`,:_{,,;:. ;,,:=_�
<br /> � , . toprovide Lender witl�any material information)in connection with the toan evidenced by the Note,including.�ut not limited �f�M;-;'�'°�,;;;:'�-Y"
<br /> �.,.
<br />. _._. ' to,r resentations eoncemin Borrower's occu an of the Pro as a riaci ty ��"�'"'��''
<br /> . eP S P �Y PenJ+ P P�residence.Jf this Securi Instr�ment is on a :a•�_�.�., -��
<br /> . . . leasehold. Borrower shall wmply with al1 the provisions of the lease. If Borrower acquires fee title to the Properiy. the '�'�' �°``-
<br /> � . � teasehold and the fee title shall not merge uniess Lender agrees to the merger in wridng. , "�nr.;'�
<br />. ' ' 7.Pro3edton af Lender's Rights in the Property.IF Borrower fails to perform the covenants and agreements contained in -
<br /> � • � , this Security Insmiment, or there is a legal proceeding that may significantly affect I.ender's rights in the Property(such as a . � � �
<br /> . ,. ' . • proce�ding in bankruptcy,probate, for condemnation or forfeitur�e or to enforce laws or regulations).then Lender may do and .. ,. .. . -=_
<br />_t_ � _• � . � pay for whatever is necessa�y to protect the value of the Properry and Lender's rights in the Property. Lender's actions may . _•�. ..
<br /> _ � ` � include paying any sums securee� by a lien which has prioriry over this Security Instrument, appearing in court, paying, - ` � _
<br />` _ �' reasonable attomeys'fees and entering on the Property to make repairs.Although I.ender may take acrion under this paragraph �;,�r�__
<br /> - 7,Lender does not have to do so. �:�„�_.
<br /> • . . Any amounts disbursed by Lender under this paraaa aph 7 shall become additional debt of Borrower srcured by this ' ., '�'��•
<br /> � ,. � Security Instrument. Unless Borrower and Lender agme to other terms of payment,these amounts shall bear interest from the °;,;,_.,^
<br /> ' � , . date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Horrower requesting � � - � � �
<br /> - payment. . �
<br /> • : � � � S.Mortgage Insurance.If Lendcr required mortgagc insurance as a wndiuon of making the loan secured by this Security . '
<br /> :. , Instrument, Borrower shall pay ehe premiums required to maintain the mortgage insurance in effect. If, for any reason, the �� �� � . �
<br /> . mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premimns required to � �., � � .
<br /> . obtain mverage substantially equivalent to the martgage insurance previously in effect,at a wst substan4ially eqnivatent to the . � '� . �� '.
<br /> � � � cost to Borrower of the mortgage insurance previously in effect, from an ulternate mortgage insurer approve� by Lender. If ' . � .
<br /> � � ; substanlially equivalent mortgage insurnnce coverage is not available.Borrower shall pay to Lender each month a sum equal to ti•�• � � .
<br /> : � ' one-twelfth of the yearly mort�age insurance premium being paid by Borrower when the insurance caverage lapsed or ceased to � . � � . .
<br /> ,• be in effect. Lender witl accept,use and retain these payments as a foss reserve in lieu of mortgage insurance. Locs reserve
<br /> ' . Form 3028 9/90 �- � ..
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