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<br /> .�� "' ,�<� � . 5. Haaard os Fro�erty Iasutance. Eors�wet shail Iceep the impsovemeuts now existing or hereafter erected on the °'."� '
<br /> ..A: :,r', . �,:•....
<br /> ',. , ' Praperty iasured agaiiut tass by fue. harards included a+ithin the tera�°extended coverage' and any other harards. including :�.,_<' , -
<br /> < a ar . .
<br /> .`��• '�<��' , . ', tlaods or ftooding.for ahic6 I.ender�quires insurance.This iasurance s6a11 be rnaintained in the amounts and for the periods -
<br /> .. ,hl
<br /> . ` '.:`�::' thai lcnd�requsres_ 7he iiuurance carrier pmvidiag the inswance s6at1 6�chosen by Bomnwer subject to Leader's approval� :,a ,, :::: .•` ,. .
<br /> - � : ��;� whict�shall not be unreasanabty with6eid. If Borrower fails to maintain coverage described above, Lender may. at Lender's ... ' , �<-
<br /> � .`� ,r_-.:� option.obtain coveisgeto pmteet Lender's rig6ts in the Property in acootdance with paragraph 7. � � .
<br /> - _.��-��"�" All iasurance�olicies and renewals shall be acceptable to Lcnder and shall iaclude a standard mortgage clanse. Lende � i�' `�� r� ,,' �
<br /> ` �=- . - shall have the rigfit to hol8 the gcslicies aad renewals.If Lender req�zs.Bouower shall pmmptly give to Lxnder all receipts of�" __ ` ` "
<br /> . paid premiums and renewal aoaces.In the event of toss.Borrower shall give prompt notice to the insvrance carrier and I.eader.� � t _ ,
<br /> l�nder may make praof of loss if not made promptly 6y Bormwer. - � �
<br /> 't ., Unles9 Lender and Bortower otherwise agree in writing.insuiance proceeds sBall be applied to restoration ar mpair of the� .�;*°��-'�.`:'-' `
<br /> � . • pmperCy damaged.iF t6e r�storation or repair is economically feas�l�le and Lender's security is not tessened.If the restoration or �,` _
<br />- „ � � repair is not economicaDy feasibte or Lender's security would be[essened.the inswancz pmceeds sha116e applied to the sums •�• __�,
<br /> '�'` secuie8 by this Sec�uity Inshumen� whe,ther or not then due,with any excess paid to Boirower.If Borrower abaa,dons ihe ;"°:_;� 1_ - -
<br /> • `'. ' . Properiy, or does aoE aaswer within 30 days a notice from Lender that the u�surance c�ier Mas offered to settle a claim,then - , �.__
<br /> �<., : • < Leader may callect the insnru�ce proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums . " ° .---
<br /> -. _ ` �;� � secured by this Secuvity Instnimeni.whdher or noi then due.T6e 30•day periad will begin when the notice is given. -
<br /> ' `' � Unless I.ender and B�rrower otheiwise agree in writing, aay application of proceeds to priacipal sha11 aot extend or
<br /> . '. • .�3 ; postpone the dae daie of the monthlY Paymeats referred to in pasagraphs 1 and 2 or change the amount of the payments. If � ' �
<br /> '�._ : . "' ' under paTagraph 2l t6e Property is acquic�by Lender,Bormwer's right to any insvrance policies and proceeds resulting fmm ,; �
<br /> �`' . � damage to the Property prior to the ac.qnisition shall pass to I.ender to the extent of the sums secured by this Security[nsm�ment °- __
<br />:w'.: �:: �:` ,�-.;�.:. iau�diately paor to tbe acquisi&on. � .. -
<br /> --``-----:�=`'" 6.Orcapancy,Preservadon,Mainteaanoe and Protedton af the ProPertY:Iiorrower's Loan Applicat[on;Leas�ho3ds. —
<br /> " � ' Borrowar shall occupy,establish,and use the Properiy as Borrower s principal residgnce within sixty days after the execurion of : -,� _
<br /> �:�`. ' . . this Securiry Instrament and shall continue to occupy We Property as Borrower's principal residence for at least ane year after ='`�'
<br /> . .: ��;,Y '
<br /> •• ' �• . . . • the date of occupancy,un2ess Lender otherwise agress in wriung.which consent shall not be uoreasonably withheld,or unless ��', �__:__�
<br /> ' _ , ° : extennatina circumstances exist which are beyond Borrower's control. Borrower shal{ not de.�troy. damage or impair the . - ,''�,�.:--�'�
<br /> ` Property. allow the Property to deteriorate, or commit wa5is on the Property. Borrower shall be in default if any forfeitnte � ..�-_��
<br /> • , . - 'Y� action or proceeding,whether civil or criminal. is begun that in Lender's good faith judgment could result in forfeiwre of the ,.ii:.�-. .:---_._-
<br /> � � ° � Property or atherwise materially impair the tien created by this Security lnswment or Lender's security interesi.Borrower may ;_:,:. `
<br /> ' . . ...__. cure such a default and reinstate,as pmvided in paragr�ph 18.by causing the adion or proceeding to be dismissed with a ruvng _
<br /> ;;.;''� • '..!`'�� that, in Lendcr's good fai�determination, precludes forfeiture of the Borrower's interest in the Property or other tpaterial .,'�.'
<br />'"1;:: impairment of the liencrez:�l by this Security Insuument or L.ender's security i-�:erest. Borrower shall also be in default if �-�-^�_: '-^�
<br /> � � • `• `a Borrower.during the loan application pmcess,gave materially false or inaccurate information or statements to Lender(or faited �'��
<br /> �'; ' to provide Lender with any material infotmation)in connection with the taan evidenced by the he.e.including.but not liauted ---
<br /> - �. .. -��=;� to,representations conceming Boaower's occupancy of the Property as a principal residence.If this Secnriry Instrument is on a _
<br /> '` teasehold, Borrower shall comply with all the provisions of the lease. If Borrower acqnires fee titte to the Property, the • • � -
<br /> � _ � �' teasehotd and the fee utle shall not merge unless Lender agrees to the merger in writing. ' �-'`-'E`�~
<br /> �'
<br /> • • 7.Protectlon oYLeader's Rights in the Property.If Borrower fails to perform the wvenants and agmemeats contained in . �'-�
<br />� ` this Security Instrument, or there is a legal proceeiling that may significantiy affect Ixnder's rigi►ts in the Property(sach as a -
<br /> ' � proceeding in bankrupery, probate,for condemnation or forfeiture or to enforce laws or regularions).then Lender may do and ,;: ���:�. --�s
<br /> � " pay for whatever is necessary to protect the value of the Propecty and I.ender's rights in the Property. Lender's acdor�s may """` �
<br />+�t:.'�• ' includs paying any sums secured by a•lien which has priority over this Security Instrument. appearin� in court. paying �- `.'� _�:-
<br /> 5. . . '' - r
<br /> . „ reasonable attoraeys'fces and entering on the Property to make repairs.Although L.ender may take action under this paragrapb
<br /> ��� 7.Ixnder does not ha�e t�do a:,. '
<br /> }_-': •.. : -
<br /> .: � Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this ,__
<br /> _, � Security lnstrument. llnless Borrower and Lender agree to other terms of payment.these amounts shall bear interest from the :--•+s::�.
<br /> •� s, • � . date of disbursement at the Note rate and shall be payable, with interest, upon notice from I.ender to Borrower reyuesting -•�-�*_�;•�-
<br /> `. PaYment. • '
<br /> � • S.Mortgage Irtsuramce.If l.ender reyuired mortga�e insurance as a condition of making the loan secured by this Security . -- °-
<br /> ._'� � � , � , � Instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect. lf. for any reason. the • � . '
<br /> mortgage insurance coverage required by(..�nder lapses or ceases to be in effect. Borrower shall pay the premiums reqaired to
<br /> . �" obtain coverage substantially equivalent to the mortgage insurrannce previously in effect,at a cost substamially equivatent to tf�e , �
<br /> ;- � . . wst to Borrower oF the mortgage insurance previously in effect, from an altemate mortgage insnrer approved by Lender. if ' . . �
<br />- ' � . substantially equivalent mortgage insurence coverage is not available.Borrower shall pay to Lender each month a sum ec�ual to �
<br /> . • � , one-twelfth of the yearl y modgage insurance premium beins paid by Borrower when the insurance covcrage lapsed or ceased to �
<br /> _ �• be in effect.I.ender will accept. use and retain these paymems as a loss reserve in lieu of mort�age insurance. Loss reserve '" �
<br /> � - �. � � • � Form 3028 9l90 � .
<br />� ' • � ' � Pago 3 of B .`� �
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