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<br />--- _ _ _ 97� 109�'���
<br /> S. HAi.ard or Prnperty Insuruncc. Burrowcr shull kecp thc improvcmcnts now existing on c�rcaftcr crccted on thc
<br /> Pro�xrty insural against Ic�:�s by firc, liar;irds includcd within thc tcrm "cxtcndcd covcragc"and any c�thcr harirds, inclading
<br /> flcxxis or floc�ding, for which L.endcr requires insurancc. This insurancc shall lx maintaincd in thc cunounts.ind fiir thc peri��ds
<br /> thut I.cndcr requires. Thc insuruncc rarricr providing thc insurancc shall hc cl�osen by Barrowcr�ubjcct a� Lr.ndcr's approvnl
<br /> whieh shall not be w�re.�sonubly withheld. If Dorrower fails to maintuin coverage descrihed ubuve, Lendrr m.�y, ut I.�:nder'. -
<br /> aption,obtain cavem�e to protect L.ender's rights in the Property in accordanee with pnragr.�ph 7.
<br /> All insurnnee policies and renewuls shall be �cceptable to Lender und shull include u stundard mortsuge cluuse. Lender
<br /> shall hnve the right to hold thc policies und renewuls.If L.ender rcquireti. Borrawer shull promptly give to Lender ull receipts of
<br /> paid premiums and renewnl natices. In the eve�t af loss. Borrower shall give prompt notice to tlie insurance carrier und I.ender.
<br /> I..ender may make proaf of lass if nat made promptly by Horcawcr.
<br /> Unless Lender and Barrower otherwise asree in writing. insurance proceeds shall be upplied to restoration or repair of tiie
<br /> Propeny damagal.if the restomtion or rcpair is economically feasible und i..ender's sccurity is not lessened. If the restoration or
<br /> repair is nat economicatly feusiblc or Lender's security wauld t►e lessencd,the insurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then duc, with any excess paid to Borrowcr. If Bonower ubandons the
<br /> Property, or does not answer within 30 days a notice from I.ender that the insurance cairier has offemd to settle u claim. then
<br /> Lender may collect the insurance proce.eds. Lender may use the proceeds tu repair ar restore the Propeny or to pay sums
<br /> secured by this Security instn�ment,�vhether or not then due. The 30-day period will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agrce in writing, any application of proceeds tu principal shnll not extend or
<br /> postponc the due date of the monthly payments referred to in paragraphs 1 nnd 2 or change the amount of the payments. If
<br /> under paragraph 21 die Propeny is acquired by I.ender, Borrower's right to uny insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immedistely prior to the ucquisition.
<br /> 6.OocupAncy,PreservAtion�Malntenpnce and Protectian of the Property; Borrower's Loan Application;I.easeholds.
<br /> Bonower shall occupy,establish.and use the Property as Borrower's principal residence within sixty days aiter the execution of
<br /> this Security Instrument and shall continue to occupy the Property es Borrower s principal residence for nt Ieast one year after
<br /> the date of occupancy, unless Lender otherwise agrees in writing. which constnt shall not be unreasonably withh�ld,or unless
<br /> catenuating circumstanees exist which are beyond Borrower's cantrol. IIorrower shall not destroy, damage or impair the
<br /> Pr�aenv. allow the Pmnertv to deteriorata, or commit waste on the Property. Bon•ower shall be in default if any forfciture
<br /> action or procading, whether civil or criminal,is begun that in Lender's goad faith judgment could result in forfeiture of the
<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 und reinstate,as provided ln paragraph 18.by cAusing the actian or procceding to be dismissed with n ruling
<br /> that, in Lender's good faith determination, precludes fodciture of the Borrower's iuterest in the Property or othcr material
<br /> impairment of the lien created by this Security Instrument or Le�xler's securlty interest. Borrower shall also be in defsult if
<br /> Borrower.during the laan r+pplication process, guve materinlly false or inaccurate lnformatian ar statements to[.end�r(or failod
<br /> to provide C,ender with any materia!inforniation)in connation with d�e loan evidenced by the Note. includi�g. but not limitod
<br /> to. representations conceming Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a
<br /> lcasehold, Borrower shall comply with all the provisions of the leasc. If Borrower acquires fee title to the Property, the
<br /> • leasehold a:xl the fa title sh�ll not merge unless Lender agrees to the merger in writing.
<br /> 7,Protatlon of Lender's Rtghts in the Pro�erty. If Borrower fails co perform the covenants and agreements contained in
<br /> this Security Instrument, or there is a legal proce�ciing that may significantly affect L.ender's rights in the Property (such as a
<br /> praceodin�in bankruptcy.probate, for condemnation or fa•rfeitura or to enforce laws or regulations). then Lcnder mAy do and
<br /> pay for whatever is necessary to protect the value of the Property and L.ender's rights in the Propr.rty. I.onder's actions may
<br /> include paying any sums scx:ured by a lien which has priority ovcr this Security Instrument, appearing in court, paying
<br /> roasonable attomeys' tees and entering on the Property to make repalrs. Although Lender may take action under thifi paragraph
<br /> 7,I.ender docs not have to do sa.
<br /> Any amounts disbuc�sed by L.ez�ler under this paragraph 7 shall become additional debt of Bonower secured by this
<br /> Security insttument. Unless Borrower and Lender agree to other tcrms of payment,these amounts shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable. with interest, upon notice fsom L.ender to Borcower roquesting
<br /> payment.
<br /> S.Martgage Insucance.If I.endcr required mongage insurancc as a condition of makinfi the loan secured by this Seci�rity
<br /> instrutnent, ]Borrower shall pay the premiums requitad to maintain the mortgage insurance in effect. If, for any rcason, the
<br /> mortgage insurence coverage required by L,ender lap.5es or ceases to be in effect, Borrower shall pay the premiums required to
<br /> obtain cnverage substantially equivalent to the moregage insurrnce previously in effect,at a cost substantially equivalent to the
<br />. cost to Borrawer of the mortgage insurance previously in effect, from an alternAte mortgage insure.r appmved by Lender. If �
<br /> substantialiy equivalent mortgage insurance coverage is not avuilable,Borrower shall pay to Lendcr each month a sum equal to
<br /> ono-twelkh of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effcct. Lendet will accept, use and rctain these p�yments as a loss reservc in lieu of mortgage insurancc. I.oss rescrve
<br /> Form 3028 9190
<br /> Pp�3of8
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