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<br /> � � • . • ��m ( ��_ ,r
<br /> . � � � ' S.Ha�ard uv l'rapeRy insuranc� Borrower sdall kccp thc improvcmcnts now cxisting on c�reaftcr eroA�t?��ertY c .. . . �<
<br /> ` ° insurcd against toxs by firc, hazards inciuded within thc tam cxtendcd covcragc" and any othcr haz�rds,including ftoads or
<br /> `� • " �loading.for which Lcndcr rcyuires insurance.'This Nsurancc shall i�e maintaired in thc amounis and for thc periads that Lendcr ` �`� .
<br /> _�.�.-:
<br /> ` -�'. •.�..•� requues.Thc insarancc c:arrier providing the insurnncc shaillx choscn by Borrower subjcct w Lcndcr's approval which shall not • �"�:'. �r . '
<br /> -- _ � be unreasanabty withheid. If Borruwer faiSs to maintaiu coveiage de�crii6ed above, Lender rnay� at Lcnder's option.obtain =- - --
<br /> �. • � coverage to protect Leader's rights in the Property in accardance with parag�aph 7. � u,- - ..
<br /> ` � � All insa�ce policies and renewtils shall be accepta(�le w Lender and shall include a standard mortgage clause.Lcnder shall �'., � - : .
<br /> ' { havc the ri g ht to hold thc policics and�newaL4.If 1.cnder requires.Bonower shalt prompUy give[o L.ender aU roceipts of paid ''`�� - _
<br /> .. ; premiums and renewal nouces.In the event of loss,Borrower shall give prompt notice tn t he iasurance c a i r►e r a c�d L e n d e r.[.e n d e r _ _ `.':F:` .
<br />: �� . '+; may makc praof of loss Ef not madc prompUy by Sonowcr. �• � `
<br /> `- � ` Unless Lender and Borrower otherwise agrce in wridng,ins+uaace ptac�ds shall be ePpued t°r�t°ration or repair of the ,.�'i=_
<br />.- ' ` . ` . property damaged,if thc restoration or repair is economicaliy feas�te and 1.ender's security is aot lessened.If the restoration or • : .����.
<br /> `� �,•' repair is not economically feasibte or Lender's security wauld be lessened,the insivatsce procecds sha116e applied to 1he sums . `' "_»�` _
<br /> ,. , ' ' . ' secured by this Security lnstnuneni, wheiher or not then due,witb any excess paid to Borrower. If Borrowea abandons tlie . '�'.�
<br /> • ' propaty.or does not answer within 30 days a notice frQm l.endar ihat the inswance canier has offered to seute a claim,ihen� : �
<br /> . Lender may coUect the insurance Proceeds.Lender may use the praceeds to repair or restnre the Property or to pay sums scxured . ..�•�_f-�___
<br /> • � � ';� by this Security lnswmen6 whcther or not thcn due.The 30-day period will begin when the nouce is�iven. ��. -
<br /> � { Unless Lcader and Borrower otherwise agree in writing,any apPlication of procceds to principal shall not ex[end or postpone _
<br /> �'`:� the due datc ot the monthly payments retencd co in paragraphs 1 and 2 ar changc the amount af thc payments.If under paragraph �_�__
<br /> :- � � ..; 21 the Property is acquired by Lender.Borrower's right to any inswance policics and procceds resulting from damage w ihe _.._.. . �_
<br /> ' Pro p e r c y prior w the acyuisitian shall pass to l.ender to thc cxtent of the sums sccured by this Security Instrument unmediateiy . �' .� _
<br /> '`�� priar to the acquisition. ,. : •-
<br /> � � ��`� 6.Occupartcy,Preservation,Matntenance and Prolectton of tlte Prnperty; Barrower's Loaa App&catton;Leasehoids. . �. �`=`T
<br /> � .�.. ,�-
<br /> .` ':a . Barrower shall occupy,establisd.aad ase U►e ProPenY as Borrow•er's principal residence wishin sixty days after 1he exeCUtion of .,_ _�- �
<br /> � , � this Secority Insuument and shal!continue to occupy ihe Propeny as Barrower's principal residence for at lea�t one year aftcr the ,_�
<br /> � date of occupancy, unless Lender othemise agces in writing, which conseat shall not be unrrasonably withheld,or unless _
<br /> extenuating c'ucumstances euist whicb are beyond Borrower's control.Boaower shall not desaoy.daivage or impair the Property, �. � =-
<br /> '.L� Bonower shaU be in default if any forfciwre actton or �`�=1=: '�_
<br /> allow the Property co dcteriorate. or commit waste on t�e Ptopary.
<br /> . ' � Proceedin g,whetheF civil ar criminal,is begun ihat in L.endcr's goad faith judgment could result in fazfeiture of the ProPertY or . . , SI _
<br /> � � otherwise macerially impair the lien created by this Security b►s�ument ar Lender's security interest Borrower may cure such a .,;,�,;,�
<br /> �, �# • ::�
<br /> � default and reinstate.as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling that,in . _
<br /> - ' • Lender's good faith deuxmination,prectudes forfeiture of thc BorrowePs interest in thc Propeny or oWer maiesial impsumtent of :�.`�.� ,•'�',��
<br /> - � .. - the lien crcatcd 6y t1�is Sccurity Insuumcnt or Lcndcr's security intcres4 Borrowu shall also be in dcfaWt if Borcower,during the •�M• :,:��_
<br /> ' loan appGcation pracess,gave matcrially falsc or inaccuratc information or statemcncs to Lcndcr(or failcd to provide Lcuder with ''�;.G�„eY-
<br /> ` any matcrial informauon) in connccuon with thc loan cvidenccd by the Notc, including, but not limited to, representadons •<<,.,.:'.-_
<br /> • conceming Borrowcr's occupancy of thc Pcoperty as a principai rc�dcncc.If this Security Instrumcnt is on a tc�schotd,Horrowcr ; �•,r''�'"�"%
<br /> � shall comply with al1 thc pravisions of thc lcasc.If Horrowcr acquires fc�tide to thc Pcoperty.the teasehold and thc fcc tide shall ' �.�_
<br /> `. . � not merge unless Lcnder agrees to the merger in writing. . .:;�-
<br /> �� � � . 7.Protection af Lender's Rights in the Prope�ty. If Bormwer fails to pedorm the covenants and agcements cantained in . .. ' ��„-.
<br /> • � �his Security Instrumeat,�r there is a legal proceedin8 that may sign�c�►tly affect Lender's rights in the Property(such as a ..:. •:-�r
<br /> procceding in bankruptcy.probate,for condemnauon ar forfeiture or to entorce laws or regWadons).then l.ender may do and pay ,;_'f� �°—
<br />� � '=� for whatever is necessary tn ptotcct the value o[the Property and Lender's rights in the Propeny.Lender's acuons may inclade .•�:-',;.�;:::< :,.M
<br /> paying any sums secured by a licn which has priority over this Security Insuument, appcaring in caurt.paYinB reasona b le '
<br /> �• � attomcys' fecs and cnccring on thc Property to makc rcpairs.Althou�b Lcndcr may take acpon undcr this paragraph 7,Lendcr ;
<br /> ��•� dces not havc co do so. �° .
<br /> • � ` �..� • Any amaun�s disburscd by Lcndcr under U�is part�graph 7 shall become addiuonal debt ot Borrower sccured by this Security � . .
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<br /> • lnsvumcn� Unlcss 8arrowcr and l.cndcr a6rcc to othcr tcrms of pnymcn� ihcsc amounu shall bcar interest f'rom ihe datc of
<br /> disburscmcnt at thc Notc ratc and shall bc payable.with intcrest,upon noucc from Lcnder to Borrowcr requcsting paymcn�
<br /> - • � 8.Mortgage Insur�nce. lf Lcndcr rcquirec!mortgagc insurancc as a condition oi making the toan secured by U�is 5ecurity
<br /> , Insuument, Borrower shall p��y the premiums requ'uecf to mainiain �he mangage insur�utce in effecl. If, for any reason, the .
<br /> •,. '� . .
<br /> . . mongagc inswance coverage requUcd by Lcndcr tapscs or ccases to be in effec�$ortowcr shall pay thc prcmiums requircd to .
<br /> . � abtain coverage subsianti�lly eyuivalent to the mongage insurance previously in effec�at a wst substantially equivalent to the . •
<br /> � cost to Sonowcr ot thc mortgagc insurru►cc prcviously in cffcct�from an altcmatc mongagc insurcr approvcd by Lcndcr. li .
<br /> • substanually eyuivaler.[mortgage insurance coverage is not available.Borrower shall pay to Lender each monlh a sum equal to .
<br /> �� one-twcitth uf thc ycarly mortgagc insurancc prcmium bcing paid by Bonow,:r whcn thc insurancc covcra�;c lapscd or ccascd to _
<br /> � bc in effcct.l.cndcr will accept, usc and retain thesc payments as a loss rescrvc in licu of mortgage insurnncc. Loss rescrve
<br /> ' Form 3028 9i90 • "
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