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<br /> 97- 10�230
<br /> S. Np�cArd or 1'rvipert,y InxurAnce. Borrawcr shull keep tlic improven�ents now existing or hereafter erected on the
<br /> Property insured against loss by tire, haiurds included within the term "extendal caveruge" and any other ha�rds, including
<br /> flcxxls nr ticx�ding, for which l.e�xicr rcqulrca insurnncc. 'Phis insuruncc shnll bc maintuincd in thc umo�mts and for the pericxls
<br /> thut I,�nder reyuires.The Insurnnce carrier providing Qie imurnnce shull tx:chosen by Borrower subject to l.cnder's approvnl
<br /> which Shutl nut tx: unr�:usunuifly wlUfhclJ. If Qc�rruu�cr falls to nmintain coveragc dcscribcd abovc. Lcndcr mny, nt Lcndcr's
<br /> opQ�m,��btain coveruge tc�protect l.e�xier's rights in the Property in uccardance�vith paragrnph 7.
<br /> All insurunce policies uixl renewuls shull be ucceptuble to I..ender and shall include u standard mortguge cluuse. I..ender
<br /> shull havc tlic right to i�old the paUcies anci rc�xwuls. If Lcnder requires, Borrowar shull pramptly givc ta Lendcr all receipts af
<br /> puid qremiums u�x1 renewal notices.Tn the event of loss, Borrower shuil give prompt notice to the insurance cunier mid Lender.
<br /> l.endcr ntny make prc�nf of I���s if not mAdc promptly by 6o►ro�vcr.
<br /> llnless I.ender nnd Borrower otherwlse agrce in writing. insumnce procecds shall be uppliecl to restocation or repair of the
<br /> Pro�erty d�muged, if the restarutian ar repair is cconomic;dly feu�ible;uM!Lender's security is not:tessc;�uai.If the restoratian or
<br /> r.ep,ur. i.s not econ�micully fenaible or i.ender's securiiy waulcl be tesse�ral,tha inseerance Proccecls sft�6 be applied to the sums
<br /> Socter.ecE by this Scxurity Insr,rumnnt, whether or not then dsie, with any excess paid ro Borrower. 1f Borrower abandons the
<br /> Propeity, or daes not answer wethin 30 days u notice from L.ender that the insurance carrier hus offeu�l to settle a cEai�n, then
<br /> Lender may coUect the insurnnce procads. Lender mu►y us� the praceeds to repair or restore the Property or to pay surns
<br /> secured by this Security Instrument,w�ether or not then due. The 30-day pericxl will begin when Uie notice is given.
<br /> Unless l.ender und Borrower otherwisc agree in writing, any appliGition of pracceds ta principal shall not extend or
<br /> poxtponc the duc datc of the monthly payments referred to in p��agrnphs I and 2 or changc the amount of thc payments. If
<br /> under paragraph 21 the Property is acquirod by L.ender, Bnrra�ve�s right to any insurunce policies und proceeds resulting frani
<br /> dsmiage to the Prapeny prior to the ocquisition shall pas� to Lender to the extent of the sams sccured by this Security Insttument
<br /> immediately prior to the acquisition.
<br /> 6.Occupwncy,Preservatlon,Malntenance s►nd Protection of the Property; Borrower's Loun AppUcation;I.euseholds.
<br /> Bormwer shall occupy, �stablish.und use the Property as Borrower's principul residence within sixty duys after the executiun of
<br /> this Security Instrument and shall continue to occupy the Property as Borrower'x principul residence for at Ieast one yutr ufter
<br /> the dutc of occupancy, vnless I.ender otherwlse a�rees in wr�ting, which consent shall not be unrensonAbly withheld. ar unless
<br /> extenuuting circumstunces cxist which arc bcyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Propercy, allow the Property to deterioratc, or commit westc on the Property. Bonower shall be in default if any forfeiture
<br /> actton or proceed�ng, whetlter c�vil or criminai, is begun tnstt in iender`s good fai[n ju�:gment couid resuit in iorieiture of the
<br /> Pro¢?e,r,nf or otherwise muterially nc;gair the lien creuted by this Security Instniment or Dr�nder's security interest.Bonower may
<br /> cure surlt a default und reinstate, a►.provided in paragrph IB.by causing the uction or proceeding to be dismissed with a ruling
<br /> that, in [.ender's good faith detcrmination. precludes fodeiture of thc Borrower's interest in the Property or ather material
<br /> impaimient of the lien crcated by this Security Instrument or l.ender's security interest. Borrower shall also be in default if
<br /> Borrower,during the loun applicution process,gave materially fttlse or inaccurate information or statements to LenGer(or failod
<br /> to provide Len�3er wiiii au►y inulC�{ui iui'uuuuliun)iu wuaat[o3t uith Ih��odn:.�idcrsc;,d by tlse*:atc, ir:le�dEng.6�e not ltmited
<br /> to,rcpresentations concerning Borrower's occupancy of the Properry as a principal residence. If this Security Instrument is on a
<br /> leasehold, Borrower shall comply with all ttie provisians of the lease. If Borrower acquires fa title to the Property, the
<br /> leaschold and the fee title shull not merge unless Lender agrees to the merger in writing.
<br /> 7.ProtecNon of L.ettder's Rlghts In the Property. If Bonower fa�ls to perform the covennnts and ugraments wntainod in
<br /> this Security Instrument. or tht:r� is u legal proceeding that may significantly uffect Lender's rights in tht Property (such as a
<br /> pnxeeding in bankruptcy,probate,for condemnation or forfeiture or to enforce luws or re�ulztions). then Lender may d�und
<br /> pay for whatever is necessary to protect the value of the Property anJ I.ender's rights in the Property. Lender's actions rnay
<br /> : include paying any sums securcd by a lien which hns priority over ehis Seeurity Instrument. appearing in couct, paying
<br /> , r��y��nable attorneys'fees and entaing on thc Property to make repairs. Alaf�ough L.enc�er may take action und�r this paragraph
<br /> 7,L�ndcr dces not have to do so,
<br /> Any amounts disbursed hy I.ender under this paragraph 7 shall became uddliionul debt of Borcower secured by this
<br /> � Security Instrument. Unless Borrower and I.ender agree to othcr terms of�paymen¢.these umounts shall bear interest from the
<br /> dute of disbursement at the Note rate nnd shall be payable. with inter�est, upon notice from Lender to Borrower rcquest�ng
<br /> , payment.
<br /> : �f,Mortgpge Iiuurance.I4''I.endcr requirod mortguge»surance as a candition of making the loan secured by this Security
<br /> � Insar,ment. Borrower shall pu}• �thc prcmiums required to mainu►in the mortgage inat�rnncc in effect. If. for any reason, the
<br /> ' mortgage insurance coverage required by Lender lapses or ceuses to be in effect,Borrower shall pay the premiums requirod to
<br /> , obtain coverage substlntinlly equivalent to the mortgage insurance previonsly in effect, at u cost substantially cquivatent to the
<br /> � cost to Bonower of tl►e mortgage insurnnce previously in effect, from an ulternute mortgage insurer approved by L.encier. 1f
<br /> subxt�ntially equivalent mortgage insurnnce covcragc is not t�vailuble, Borrowcr shall p�y ta Ler.der each month a sum equal to
<br /> � one•¢welfth of the yearfy mortFace insurance prcmiurn being paid by Borrowcr when the insurnnce coverage lapsec�oT ceased to
<br /> be in effect.L.ender will accept,use and retain these payments as a loss reserve in licu of martgage insurance. I.oss reserve
<br /> � Form 3028 9/80
<br /> � P�ye 3 018
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