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<br /> 9?-104'�02
<br /> S. N�zwrd or I'ruperty In+ur��xc. Borruwcr shall kccp thu impruvcmentti nuw rxisting on c��caftcr crectul on thc
<br /> Properly in�urc<i ng�insl loss hy firc, hw;uds incli;ilcd within the rcrm "extcndcd ri�vcragc" und uny��ihcr hazarJs. including
<br /> tla►tis or tlaxling. lur wl�ic{i L.tikL:r rcquirc:, in,tu�uncc. 'Cttis insur,tncc tih.ill hc inuininincd in �hc am��unts and (ur thc�:ricxls
<br /> d�ut L.ender reyuires. The insur.mce c;►rrier pruviding dic intiurance tihall he cho�en by l3orrower subject to l.cnder's appr��vul
<br /> which shall nut hc: u+vcasunably witlihclsi. If �3ormwcr iuik to maintnin ci�verugc dcscritxd ulxw�. I.cndcr nury, ut I.cndcr's
<br /> option,ohtuin coverage ta protect Le��ler'�rights in the Pn�perty in aceorciunce with paragraph 7,
<br /> All insurancc policics and rene�vuls shnll bc acccpu�hlc to l.cndcr und shall includc u standurd nmrtgagc cluusc. Lc:ncicr
<br /> shall have thc:right to hold the pnlicics nnd renewals. If L.cndcr rec,wi-cs,B�xrower shull prompUy givc to l.cnder idl rcceipts of
<br /> paid premiums ancl renewal uutices. In thc evert of loxs, Barro�ver shall give prompt notice w the Insurance carrier 1�d l.ender.
<br /> I.c�xier n�ay nwkc prcwf of locs if not mudc prompUy by l3orrawcr.
<br /> Unless I.endcr and Borrower otherwisc abrcc in writing, insurancc procceds shall bc applicd to restoration ar mpair of the
<br /> Property damaged,if tho restoration or repair is economically feusible and Lender's security is not lessened.If the restorution or
<br /> repair is not ewnomically feasible or l.ender's security would be Iessened,the insurance pro�ecds shull be applied to the sums
<br /> secured by tliis Security Instn►ment, whether ar r.ot then duc, with any e.ac�ss paid to Bonowor. If Borrower nbandons the
<br /> Property,ur does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim. then
<br /> Lendcr may collect the insurance proceeds. Lender may use the procceds to repuir oe restore thc Property or tr_. pay sums
<br /> secured by this Security Instrument,whether or not then due. The 30-day period will begin when the notice is given.
<br /> Unless Lender a►x1 Borrc+wer otherwise agree in writing, any application of proceecls to principal shall not extend or
<br /> postpone the due date of the monthly payn�ents referred to in paragraphs I and 2 or change tl�e amaunt of the payn�ents. If
<br /> under paragraph 21 the Property is acqu:red by Lender, Borrower's right to n�y insurance policies and prooceds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lendcr to the extcnt oF thc sums saxured by this Security Instrument
<br /> immedlately prior to the xquisiti�n.
<br /> 6, pccup�ncy,I'nservation,Malnte�wnce wnd Protcetion ot the Property;Borrower'a�I.oAn Applicatiun;I.easel�olds.
<br /> Bonower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Secarity Insmtmcnt nnd shall continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> the date of occupancy, unless Lender otherwise agrees in writing, which consent shalt not be unreasonably withheld.or unless
<br /> extenuating circumstances exist which an beyond norrowcr's conin,i. Eiva�:�er stsal: roi d�t�;, dsr.�sa=^r im,rair th�
<br /> Property, allaw the Property to d�teriorate, or commit waste on the Property. Borrowcr shxll be in default if any forfeiture
<br /> action or procetding, whether civil or criminal,is begun that in Lendcr's good faith judgment could nsult in forfeitute of the
<br /> Property or othcrwise materially impair the lien created by this Security Instnunent or I.ender's socurity interest.Borrower may
<br /> cure such a defuult and reinswte,as provided in paragraph 18,by causing the action or proceeding to be dismissod with a ruling
<br /> that, in I.ender's good faith determination, precludes forfeiture of the Bomnwer's interest in the Property or uther material
<br /> imp�im�ent of the lien creatod by this Security[nstrument or Lender's securiry intercst. Borrower shall also be in default if
<br /> Rorrower,during the loan application process.gave materially fulse or inaccurato infom�ation ot statements to I.onder(oc failed
<br /> to provide I.ender with any material information)in cocenection with the loan evidenc.ed by the Notc,including.but not limited
<br /> to,representutions conceming Borrower's occupancy of the Property as a principal raidenc,�. If this Security Insuument is on a
<br /> leasehold, Sorrower shall comply with all the provisions of the least. If Rorrower acquims fee title to the Prope�ty. the
<br /> leauhold and the fec tit[o shalt not merge unless Ixnder agrecs to the merger in writing.
<br /> 7.Protection of I.ender's Rights in the Property.If Borrower fails to perform the covenanu and agcxments contained in
<br /> this Security'�nshument.or there is a legal proa�eding that may significantly affect Lender'�rights in the Property (such ns a
<br /> pr<�ceoding irr bankcuptey,probate, for cond�mnation or forfeiture or to enforce laws or regulations),then l.end�r inay do and
<br /> pay for whatever is txcessary to protxt the value of the Property and Lender's rights in the Property. I.�nder's actions may
<br /> include paying any sums securod by a lien which has priority over this Secarity Instnunent, appearing in couR, paying
<br /> reasonable attomeys' fees and enterin�on the Prope�y to make repairs. Althongh Lender may take action under this paragraph
<br /> 7, Lendor dees not have to do so.
<br /> Any amounts disbursed by L.e►xier under this paragraph 7 shall bocome addiaona.l debt of Borrower secuud by chis
<br /> Sccurity Instrument. Unless Boaower and Lender agrec to other tenns of payment.these amounts shall bear interest from the
<br /> date of disbu►sement at the Note rate and shall be payable, wtth inter�st, upor �oticc from Lender to i3orrower rcquesting
<br /> payment.
<br /> $.F3ortgage Incurance. If I.ender requirYd mortgage insurance as a condition of making the loan securai by this Security
<br /> Instrument. Borrowtr shall pay the premiums requircd to maintn�ls�the mortgage insurance in effcct. If, for any reason, the
<br /> mottgage insurance coverage required by Lender lapses or ccasrs to be in effs^ct.Bonower shall pay the premiu!ns required to
<br /> obtain coverage substantially equivalent to the m��rtguge insurnnce previously in effect. at a rnst substantialty equivalent to the �
<br /> cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurtr apRraved by Lender. If
<br /> substantially equivalent mortgage insurf►ncc coverage is not available.Borrowcr shall pay to Lcnder cach month a sum equal to
<br /> ! one-twelfth of tt�e yearly mortgage insurance premium being paid by Borrower wlien the insurance coverage lapsod os ceased to
<br /> be in effect.Lender witl accept,use su►d mtain thesc payments as a loss reserve in lieu of mongage insurance. Loss reserve
<br /> , Fam 3028 9l80
<br /> Ppe 3 of 6
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