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<br /> . � , ' S,�rd ar Praperty In�tuaace. Bomowex shall keep the impmvemenis now e�isting or h�frrr erected on the Pmp�rty
<br /> _. . �against loss by 5�.hazards iactoded with�the term"exteaded ooverage"and any ather ha�ard.s,inctuding ftneds� --
<br /> ' ' : �� IIaod'mg,for which Lender requicrs insurauce.T6is in.�uraace shall be maintained'ui the amounts aad far the periods that L.ender .
<br /> �
<br /> , ._:.��:: zequIIes.l7ie insusance ca�rier providing the insfuance shali he chosen by Bormwer su6jecc to Lendds�►pmvat whi�h shaII no� . . -_.
<br /> _- `- - be ��tyr wit�held. If Borrower fails to maintain ooveiage d�saabed a6ave. Leader may,az Ix�de�'s optian. obtava _ --- -
<br /> . • '. coverage t�protect Leader's rights in the P�upary in aa;oidance witb p�agraph 7. ,
<br /> �- A11 insacartce poliaes and�ewals s6all be accepta6Ie to I.eud�and shall include a standard mortgage ctause.L�der sha! � ° '
<br /> � -�:�.. t..
<br /> _ : have the rEght to hold the policiss and renearals.If I.ender requires,Botrower shall pmmpfly give tn LeQdea aU reccipts of p ' z .
<br /> . . . premiwns and renewal aodces.in the eve�nt of toss.Bonower shaU givc prompt nottce to the insurance canier and Lendca-i.end � .
<br /> � '3 may make proof of toss if aot mads promplIy by Borrower. . �:' :
<br /> , . LTnless lcnder and Sorrowcr othawise agzee in writing.ins�uancc procoeds shall be applied to restomtion or repair of th� . ,'..�-y:
<br /> � ' Ptoperty damagrd,if thc reswration or rc.pair is economically feasi'btc and[.ender'�s sccuriity is not t�ed.If the resto�tion or � ,� ~:��z
<br /> � ` , c�pair is aoi economically feas�'b!e or Lender's security would be lcssueed.the insurance pracecds shall be applied tn the suras . �
<br /> � secur�d by this Security Luuumen� whed�er or not then due. with any eaccess paid tn Barrower.If Bmrowea abandons the . :'—,�
<br /> . . � . �.-'�a:-�_
<br /> Property,or daes not answer within 30 days a norice fmm l.ender that the insurance camer das offeied tn seuie a claim.then � . • —
<br /> � ' `'•� Lead�may collect the insurance pracer�.�.Lender may use the psoceeds w repair ar reswre tJte Propeaty or to pay s�uns secured � ^
<br /> � • by this Security Instrument,whetIIe,r or not then due.'liie 30-day period will begin when the aoticce is givea. � '�
<br /> , ` . Unless Leadra and Bomnwer otheta+ise a8ree in writiag,anY appWxtion of proc�eds w P�incipal sha11 not extend ar postpane r � _
<br /> the due date of the montbly paymears mfeaod to in parag�aphs 1 and 2 or cha3age the amount of the payments.If undea para�ap4� �� ` — -
<br /> � . . 21 the P�opeaty is acq�ired by Lxudcr,Bo�rower's right tfl any msurance policies and proceeds resutting from Q�nage w the .. -
<br /> '��
<br /> ' • Pmpe�ty prior to!he acquisioion shall pass to Leaded ta We actent of the sums secured by tLis Security lnstrument immediateIy : _�:,,�Y
<br /> - • . prior w tke acquisision. � ��
<br /> � 6.Occapansy.Pceservattoa,Maintenance and PratectIon of the Property: Borrower's Loan Application;l.easetiolds. °:f,'�'""��'�`
<br /> - i._. . -°.. Bormwer shall acxapy.e.stablish,and use the Properly as Bo�mwer's principal cesideuce ariWin sixty days after the ea�cution of • .; ,.{�-y��_�
<br /> .. ' ; this Sec�uity Insbnuaent and�alt con6nue to occupy the Pmperty as Bortowea's prin c i p a l residence for ai leastone year after the .,� r�„`-s.
<br /> ;f � . . � date of oc�pancY, upless I.eadca othecwise agrees� writing, wiucb consent shall not be unreasmoahty withheld,or wiless _�
<br /> � . extenua�ng ciranns�ances exist wluch are beyond Bonower's conu+oL Bosmwer shail not desocoy,damage ar impair the P�opectY. : `��
<br /> - . altow the Prope�ty w det�iorate,or commit wasce on the Propaty. Bamsw�sLall be in defmtlt if any forfeintre acdon or ,:t"�
<br /> ' . ' proceed'mg,wfiethar civ�or crlminai,is begun that in Lendc�'s good faitb jud8ne,nt coWd re,gult in forfeiuue of the propeaty or . , `':;��
<br /> . othe�arise materialIy impair the lien created by this Seauity tnstrument or L�ender's secusity interest.Borcower may ciae such a . •:._,..o„,�;
<br /> ' default and resnstate,as pmvided in paragraph 18.by causing the action or proceeding to be disnissed wit6 a niling that.in '_ .=��:,:
<br /> .���,. Lender's good faith dete�mu+ation,Precludes forfeitaie of the Bmrower's interest in the Propeny or other mat�rial impairment of . . .._."'�'•
<br /> � . the liea cre,ated by tfis Seauity Instnwient or Lead�'s security iateaest Borrowa shall aiso Ue in default if Borrower,d�uu►g the � :"::�.p
<br /> ' . . toan application pmce.�s,gave matedally false or inaccurate information or statemenis w Lendea(or faled tn provide Lender witL : ;,,, �_:�-`;
<br /> � � � any material informadon) �n connection with the loan evidenced by the Note. including, but aot limited w, representations �`-�-
<br /> � � conceming Borrowea's accupaacy of the Property ag a principal residence.If this Security Insuument is on a 2eazehold,Bomuwer � `.` ;=
<br />- � sha11 comply with all the provisions of the�ease.If Boaower acqnires fee 6de to the Property,the leasehold and the fee 6tie shall � '�'�"
<br /> • •`:��_
<br /> � not merge untes5 Leader agree,s w the meager in writing. �� ' �:�:
<br /> `� 7.Protecdon of Leuder's Rig6is m tbe Property. 1f Boaower fails to paform the covenanu and a�eements contained in . ' ��.°'
<br /> � � this Serurity Inst�ument,or theac is a Ie8�1 Dloceedin8 that may significantly affect l.eadea's rights in the ProPertY(such ac a �•":.
<br /> gn� -�.�,..:
<br /> proceeding in baNQaptcy,probate.for condemnation or forfeiwre or to enforce laws or regutations),then Lereda may do and yay , • �'"
<br /> ,..�
<br /> � � � for whateva is necessary+w protect the va3ue of t2te Yroperty and Lender's rights in the Propeaty.Leader's aaions may inctude �: .
<br /> • � PaYu►8 any sums secured by a IIen ahich hag priority over this Securiry Instnunent,aPPearing in couR. PaYinB reagonable ,��-,
<br /> ' ' auomeys' fees and entering on the Froperty to makc repairs.Although I.end�may take action under this paragraph 7,L�adcr , •
<br /> `�!� � � does not have to do so. �
<br /> � � My amounts disbursed by Lendea under this paragraPh 7 shall became additional debt of Bonowea securcd by this Seciuity � °' � .
<br /> � � Insuument Unless Bomnw�and L�ender agree to other terms of payment,these amounts sLall bear interest irom the date of '
<br /> ± disbursement at the Note rate and shall be payable,with intcrest,upon notice ftom I.ender to Boaowca requcsting payment ' '
<br /> ' .� � ,:
<br /> � S.Mortgage Insuranc� If Lender required mortgage insurance a4 a condition of making the loan secured by this Security .. �
<br /> .�r � Instnunent, Borrower shaU yay the premiums required w maintain the mortgage insurance in effect If, fot aay reason,the � . • .
<br /> •` � mortgage insurance coverage required by Lender lapses or ceases to be in effecb Borrower shall pay tha premiums required w '� � � . ,
<br /> � � o6tain coverage substantiaUy eqnivalem w the mortgage insurance pnwiously in effect,at a cast substantially equi�alent w the '. ' .
<br /> . cost to Borrowcr of the mortgage insurance previously in ef[ea, fmm an altemate mortgage insurer approved by Lcnder. If� ' . �
<br /> substantially cquivalent mortgage insurance covcrage is noi avaitable,Borrower shall pay to Leader each month a sum cqnal tn �
<br /> .�t� ' one�ta+effth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to .
<br />- ` � � � be in effecx Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance.L.oss resenre •. • .�
<br /> Form 3028 8/90 ' '
<br /> . �-eR(NE)tez,z�.o, Pago 3 ot 8 Innlale: , ,
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