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<br /> . . ` •_ ,` $, Ha�rd or Psopetty Ios�rance• BoTrower shall keep the impmvements now eaisting or hereafter erected on the ,, ,_
<br /> � ; • property insured against loss by fire.haiards included wit6in the term "extended caverage" and aa►y other hazards.includin� °F� t-�;;;'
<br /> . . fluods or tlooding,fer w h i c h L e n der requi r e s insurance.This insun�nce shall be maintained in the amounu and for the period� 4.�, °: ,;. ';�� ��;
<br /> �, � ' •' that Lender requires.7'he insu�ance carrier psovidi n g the insurance shall be choseu by Borrower subject to I.ender's appmvaft ., :G:
<br /> �;�' � -�.�'; which shalf not be unreaso n a b ly wi t h held. If Borrower fails to maintain coverage described above.Lender may. at Lender'� : ., .
<br /> ; �.�----._. . ' . °
<br /> .- _ __� aption.obtain coverage tn protect Lender's righu in the Property in accordance with ParaB*aPh�• c� ��e� r • �.
<br /> : ,. h .: AU insurance poli��es and renewals shali be acceptabte to L.ender and shall include a standard mnrtgage .._ s --
<br /> � shall have the right to hold the policies and renewals.If l.ender requins.Borrower shall prompdy give to I.ender all receipts o r �� "
<br /> ' ` `,+ �. paid premiums and renewal notices.In the event of loss,Borcower shall give pmmpt aotice to tfie insucance carrier and L.ender.� . .._,r� h��_
<br /> ��,., �� Lender may make proof of loss if not made ptompdy by Borrower.
<br /> ,; _, . _. ... _ ;<
<br /> �.> •� Un(ess Lender and Borrower atherwise agree in writing.insurar►ce pmceeds sball be applied to restoration or m,pair of the �• ��,. '
<br /> = : . pmperty dasnaged.if the restoration or repair is economically feasible and I.ender s securitY is not lessened.If the restoration or : - ---�-•��"_-Y
<br /> a : ' y
<br /> �,. . . repair is not economically feasible or Lender's securiry would be lessened,the insurance proce�s sha11 be applied to the sums �;. .j,_,r=;:
<br /> �. � .. . �:�-r.
<br /> 4�t; : � . . ,% secured by this Security Instrament, whether or nat then due, with any excess paid to Borrower. If BorroN+er abandoas the ' ,_,". �.�Ya
<br /> ';= • �� Property.or does not answer within 30 days a notice from Lender that the insurauce carrier has offered to settle a claim,then F � .r_
<br /> .,� .y;
<br /> x_°; '• Lender may wllect the insurance proceeds. L.ender may use the proceeG� to repair or restore tlie Properry or to pay sums ���_.�:_
<br /> � • • ` secured by this Security InStrument.whether or not then du.:.The 30-day period will begin when the notice is given. 1=
<br /> �� � - � Unlesy Lender and Borrower otherwise agee in writing, any application of pr�s to principal sha11 not eatend or —_
<br />;�:� • " hs 1 and 2 or ctiange the amount of the payments. If ___
<br /> ��' '` • postpone the due date of the monthly paymcnts referred to in paragcap __ ___
<br /> under paragraph 2l the Property is acquired by Lender,Borrower's right to any insurance poiicies and proceeds resutung fr+om �
<br /> ��•� � � -�-
<br /> �� ' •G.'.
<br /> r x-.._`.: .-,-- --.•_.�.. dasnage ro the Property prior to the acqaisition shall pass to Lender to the extent of the sums secured by this Security Insuument v:,�.:_�..V�_-_
<br /> . ���.:
<br /> '`� • •. • . immediately prior to the acquisition. ���,�.+s��Application;I.easeholds. ��,.,--
<br /> �`�. ' � �. •-�� ..`: 6.Occapancy,Preservatfon,Maintenance and Protectfon of tde Property; . .
<br /> • � lish and use the Pra eRy as Borrower's principal resideace within sixty days after the execudon of . .,���
<br /> ' Borrower shall occupy,estab . P : .
<br /> this Security Instrument and shap wntinue to occupy the P[vperty as Borrewer s principal restdence for at least one year after .. .k�._:�
<br /> a r - . the date of accupancy,unless Lender othenvise a�rees in writing, which cousent shaU not be unreasonably withheld,or unless , ��,;,
<br /> j;,� � � • extenuating circumstances exist which nre beyond Borrower's control. Borrower shall not destroy. damage or impair the ____
<br /> ,.. _ ,._-�
<br /> ` Property, aliow the Property to deteriorate, or commit waste on the Property.Barrower shall be in default if any forfeiture ,�, . _ ,�-
<br />'�`�. , action or proceeding. whether civil or criminal,is begun that in Lendei s goad faith j�dgment could result in forfeiture of Ihe . .x:,�.
<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 in paragraph 18,by causing the action or proceediag to be dismissed with a ntling � ',c� -
<br /> �` that. in Lender's goad faith deiermination. precludes forfeiture of the Borrower's interest in the Property or other material ,,, `,�,�f
<br /> r+�`� � ' � -� � '
<br /> impairmen t o f the lien created b y this Security Instniment or I.ender's security interest. Borrower shalt also be in default if .*�
<br /> n . Borrower. during the toan applicatian process,gave materially false or inaccurate information or statcmenu to Lender(or fail e d ,� =�
<br /> '' � � to provide Lender with any material information)in cannection witn the loan evidenced by the I�Iote.including,but rtot limited , , *�__
<br /> ••'i,. �_:_..�
<br /> to.representations conceming Borrower's occupancy of the Property aS a principal residence.If this Securiry Instrument is on a ,�� ,��,
<br /> � ' teasehold, Borrower shall comply with all the provisions of the lease. lf Bonower acquites fec title to the Property. the
<br /> i -.;,s.+�--.
<br /> - . . leasehold and the fee cide shall not merge unless Lender agrces to the merger in writing. • . , ,.�_-
<br /> ' � 7.Protection of Ixnder's Rights in the Praperty.If Borrower fails ta perform the c�venants and agreements contained in _.,_
<br /> s`,�`, this Security Instrument. or there is a legal praceeding that may sianifccantly affect Lender's righu in the Property (such ac a -; _
<br /> �Y?� � ... ,. •� ' . proceeding in bankruptcy.probate,for wndemnation or forfeiture or to enforce laws or teguiations), then L.ender«�y do and � _�_
<br /> 3ti��: ��: : � . pay for whatever is necessary ta protcct the value of the Prope�y and Lender s rights in the Property.Lender's actions may ;, .. , �-
<br /> �._.... . . �
<br /> �;.•, , � � ` inctude paying any sums secured by a lien which has priority aver this Securiry Instrument, appearing in couR, paying _
<br /> ����,' ., � ��,, reasonabte attorneys' fees and entering on the Propercy to make repairs.Although Lender maY take action u��der this paragraph '� �•-'r~'
<br /> . " 4 7,:.ender does not have to do so. � __
<br /> �"� Any amounts disbursed by l.ender under this paragraph 7 shall become additional debt of Banower secured by this
<br /> ... � � • .4 Securiry Instrument. Unless Borrower and L.ender agrce ta other tcrms of payment,these amounts shall bear interest from the
<br /> , �- • date of disbursement at the Notc rate and shall be payable, with interest. upan notice f'rom Lender to Bonowcr requesting ,
<br />•' ` • ` a payment.
<br /> � ' � 8.Martgage insurance.if Lender required mongage insurance as a candition of making the loan secured by this Securiry .
<br />. � Iastntment. Bonower shall pay the premiums rcquired to maintain the mortgage insurance in effcct. If, far any reason. the .
<br /> .�� .� , � . mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to . �
<br /> '�:�: .� obtain coverage substantiafly equivalent to the mortgage insurance previously in effcct.at a cv��t substantially equivalent to the
<br /> cost to Borrower of the mortgage insurance previously in eifect, from an altemate mortgage insurer approved by Lender. If ;
<br /> �� . �• substantially equivalent mortgage insurance covcrage is not available. Borrowcr shall pay to Lender each month a sum cqual to . .
<br /> '�� ' ' one-twelfth of the ycarly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ccased to
<br /> �J ' • � ! be in effect.Lender wiU accept,use and retain these payments as a los� reserve in lieu of mortgage insurance. Loss reserve
<br /> ' � Form 3028 9/90 :
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