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<br /> �R �_ 98_���� - � �. - 1
<br /> '� ' S. Hazard or Pmpertv Insurance. Borrowrer shall keep the improvements now existing or hereafter erected on the �
<br /> � Pn�perty insured against toss by fire. 6azards inciuded within the term "extended coverage" and any other hazards. including • `� r
<br /> � . . � fla�ds ur itooding. for which Ixnder requires insurance.7'his insurance shalt be maintained in the amounts and for the periods . ;'�` �
<br /> � . -- that Lende� requires. The insurasue carrier providing the insurance�hall be chosen by Borrower subje�'t to L.ender's approval __ ___ ,_ _
<br /> =* ---- - �'—, - whicfi shall not be unrrationahty withheld. tf Sarroucr faels to maintain coverage described aboti•e. Lender may. at Lender's _.-_�=:-_
<br /> . aption.abiain rnver�e to pratect Lender's righu in the Property in accordance with paragraph 7- ` '` j` �'
<br /> - • � . All iasurance pulicies and renewals shall be acceptabte to Lender and shall include a standard mortgage clause. Lender �, �
<br /> � shall have the right to hold the policies and renewals.If Lender requires.Borrower shall promptly give to Lender all r�eceipu of ,_
<br /> . � paid pmmiums aRd renewal notioes.In the event of loss.Borrower shall give prompt notice to the insuranre carrier and Lender. _` ` ,�-, _'�
<br /> ,. . Lender may make proof of toss if not made prompdy by Borrower. -
<br /> ;�,, . • . . " Unless Lender and&�rrower othenvise agree in writing.insurance proceeds shall be applied eo restoration or repair of the , ` ;��,,�-
<br /> Property damaged.if the restoration or repair is economicatly feasible and Lender's security is not lessened.If the restoration or ,.`.- . . �'�.;
<br /> ?` ' repair is not ernnomically feasible or L.ender's security would be lessened,the insurance praceeds shall be applied to the sums •�.• ;
<br />- secured by [his Security Instrument, whether or nt�t then due, with any excess paid to Borrower. If Barrower abandons the :_ : �`��°
<br /> }"'` . . , - Property,or dces not an�wer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim.then '°'-
<br /> �� � � . Lender may rnllect the insurance pracezds. Lender may use the proceeds to repair or restore the Property or to pay sums ` :r .�;
<br /> ;W ' . � '` secured by this Security Inscrument.whether or not then due.The 30-day period will begin�vhen the nouce is given. _ _ ,�;.�_
<br /> � Unless Lender and Borrower otherwise agree in wrsting, any application of proceedti to principal shall not eatend or '..<" •
<br /> i • , • postpone[he due date af the monthly payments referred to in paragraphs 1 and 2 or change the amoum of the payments. [f �;�
<br /> ! " � under paragraph 21 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting from _ �
<br /> .� t< 4•
<br /> !<• damage to the Property priar to the acquisition shall pass to Lender to the extent of the sums secured by this Securiry Instrument �
<br /> ��.-_
<br /> �: ' ' ' immediately prior to the acquisition. '�^'"::-�<
<br /> t;, '": _
<br /> 6.Occupancy,Pceservation.biatntenance and Pratection of the Property:Borroa'er's Loan Appl[cation;I.easeho[ds. :f;;:,:r,�
<br /> t> � , , :�_�`,, -
<br /> � '-. ,.� Borrower shall occupy.establish.and use the Property as Bormwer's principal residence within siaty days after the execuuon of _ _ : ., ' -
<br /> ' y.�_,
<br /> ,�.� this Security Instcument and sl�all continue to accupy the Propeay as Barrower's principal residence for at least one year after :��, ,�--
<br /> ��� ' ,•� the date of accupancy,unless L.ender otherwise agrces in writing,which consent shall not be unreasonably withheld,or unl�s , f ' '�-;
<br /> ��'��_
<br /> _ ` •..�%:� extenuating circumstances exist which are beyond Barrower's conuol. Borrower shall not destroy. damage ar impair the ,� �,1�._,�
<br /> `�3 , ' .- Praperty, allow the Property to deteriorate. or commit waste on the Property. Barrower shall be in default if any forfeiture • .�.z'"�?.
<br /> � actian or proceeding.whether civil or criminal.is begun that in Lender's good faith judgment could result in forfeiture of the , . �?-�
<br /> ' Propeny or atherwise materially impair the lien created by this Security lnstrument or Lender's security interest.Borrower may ; `���`..`
<br /> `r. � • �•, r cure such a default and reinstate.as provided in paragraph I8;by causing the action or proceeding to be dismissed with a ruling �'-r;}
<br /> - . � - that, in Lendei s good faith detertnination, preclud� forfeiture of the Borrower's interest in the Property or other material _. . '�°�
<br />: . , , ��:� impairment of the lien created by this Secerity Instrument ar Lender's security interest. Borrower shall also be in default if �,.".;.zr`
<br /> �.j Borm�ver,during the loan application pracess,gave materially false ar inaccurate information or statements to l.ender(or failed . • �.-.
<br />_ . to pruvide Lender with any material infarmatian)in connection witn the loan evidenced by the Note,inctuding.but not limited . ;:` �"�
<br /> ' to,representations�oncerning Borrower's occupancy of the Property as a principal residence. lf this Security Instrument is on a `��:*'-
<br /> � '� leasehold. 8orrower shall comply with a{I the provisions of the le�ase. If Borrower acquires fee title to the Property. ths �''��
<br /> leasehold and the fcc title shall not mergc unless L.ender agrees to thc mcrgcr in writing. '.;.p,.
<br /> _ , 7.Protectian oP I.ender's Rights in the Property.If Borrower fails ta perform the cavenants and agreemen�s wntained in = ,?-
<br /> - . - this Security Instrument, or there is a Icgal proceeding that may significantly affect Lender's rishts in the Property (such as a " ._�
<br /> '�e� � proceeding in bankruptcy.probate, for condemnation or forfeiture ar to enforce laws or regulations), then Lender may do and . .-
<br /> " ,,`
<br /> . � `s;•,. pay for whatever is�ecessary to protect the valuc of the Propeny and Lender's rights in the Property. l.ender s actions may . . ,
<br /> . � include paying any sums ,ecured by a lien which ha� priority over this Security Intitrument, appearing in court, payins
<br /> , . , reasvnablc auomeys' feeti and entcring on thc Pmperty to make rcpair.r. Although l.ender may takc action under this paragraph ,
<br /> ' ?. � 7.Lendcr docs not havc u►do�n. ••
<br /> ' Any amauntti di�bursed by Lender under this para�raph 7 shall become additional debt of Horrower secured by this • . �
<br /> . Sccurity Imtrument. Unless Borrowcr and Lendcr agrce to other tcrms of payment, ihc`e amounts shall bear intcrest from the
<br /> �''�' datc of disburyemcnt at thc Note rate and rhall be payablc, with interest, upon noticc fmm Lcnder to Borrawcr requesting - ••
<br /> . paymcnt.
<br /> � 8.Mortgage lasurance. If l.ender requirecl mortgage intiurance a.a amdition of making the loan securcci by thic 5ecurity �
<br /> , . Imtrument. Bnrr��wer ,hall pay the premiums reyuired to maintain the mortgage imurance in effect. lf, for any rea.�on, the • •
<br /> � mortgagc imuranrc rovcrage required by Lcndcr laptics or cca.rcti ta bc in c�fcct.Borrowcr tihall pay thc premiums required to , .
<br /> � . � ��btain cuverage sub,tantially cquivalent to ihe morlgage insurance previausly in effect. at a cost sub>tantially cyuivalent to the
<br /> ':.�'� . co,t u+ Burrower uf the mortgage insurance previuu.ly in effect. fri�m �n altemate murtgage insurer approved by Lender. If
<br /> substantially cyuivalcnt mortgagc insurancc covcragc u not availablc, Borrowcr�hall pay to Lcndcr each month a sum cqual t� . �
<br /> , . �mr-twclftb uf the yearly nwrtg�gc insurance premium bcing paid by Burrower when Ihe insurance mvcrage IapseAf��r cc:ased to .
<br /> , he in effect. Lender will urcept,utie and retain the,e paymentti as a I��.s rc�ervc in lieu ��f mortgage inwrance. Lass reserve . '
<br /> • � Form 3028 9l90 � '
<br /> V..go 3 of G . �
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