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<br /> S. H�u.xrd or Prape»y InsurAnce, Horrower shall keep thc impra��emcncs now cxisting or hercafter crectc on thc
<br /> Property insurcd abuinst losti by firc, hur.ards iucludcci witliin the tcrm 'cxtendcci mvcragc" nnd any othcr hnzArds, including
<br /> floocls or floocling, for which Lender rcyuires insurunce. This insurnnce shull be r�uintuined in tne amuunts und iar the periods
<br /> that Lcndcr rcGuires.Thc insuranrr rarricr prc+viding�he inyurnncc�hnll be chosen by Borrnwcr subjr.ct to l.cndci's upprovnl _
<br /> �vhich shall not he unrcasonubly withheld. If Borrowc� fuils to maintnin covemge described ubove, L.ender muy, ut Lender's
<br /> optiun,obtain caveruge to pr��tect Lender's righis in the Property in accordanca withparugruph 7.
<br /> All insurance policies and renewals shall be acceptable t�Lender und shal! include a standArd mortgase clause. l.ender
<br /> shall huve thc right to hold the policics and renewuls.If l.ender requires,Borrowershnll promptly give to Lender all reccipts of
<br /> paid premiums and renewal natices. In the event of loss, Anrrower shull give promp�notice to the insurnnce carrier nnd L.ender.
<br /> Lcndcr may make prcx�f of loss if not made prornptly by Borrowcr.
<br /> Unless Lendcr and Horrower otherwise fl�me in writing, insurance proceeds shal! be upplied to restoration or repair of the
<br /> Property dan�ged. if the restoration or repair is economically fcasible and Lerxler'ssecurity is not lessened. If the restorntion ar
<br /> repair is not econumically feasible ar Lender's serurity wauld be iessened,the insumnce proceeds shall be applied ta the sums
<br /> secured by this Security Instrument. whether ar not then due,with any excess ptid to Borrower. If Hono�ver abundons the
<br /> Praperty, or does not answer within 30 days a notice from Lender that the insur.�nce carrier has offered to settle u claim, then
<br /> Lender may collect the insurance proceeds. L.ender may use the proceeds to repair or restore the Proparty or to pay surns
<br /> sectired by this Security Instrument,whether or nut tl�en�ue.The 30-day period will bcgin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to princip�l shall not extend or
<br /> pnstpone thc due date of thc monthly payments refened to in paragraphs 1 and 2 or change the umount of the payments. If
<br /> under paragrnph 21 the Propeny is acquired by[.ender. Borrower's right to any insnrance policies stnd ptoceeds resulting from
<br /> damage to the Property prior to the acquisition shal l pass to Lender tu tlie extent of�he sums secured by this Security Instcument
<br /> immediately prior ta the acquisition.
<br /> 6.OccupAncy,Preservation.Maintenxnceand Protection of the Fraperty�Borrower's I.oan Appl(cation;Lea.qet�ofds.
<br /> Bonower shall occupy. establish,and use the Property as Enrrower's principal residence within sixty days after the execution af
<br /> this 5ecurity Instrument and shull continue to occupy the Property as Borcower's principal residence for at least one year after
<br /> the date of occupancy, unless Lender otherwise agrces in writing, which consent sGal1 not be unreasonably withheld, or unless
<br /> - extenuating circumstances exist which are beyond Borrower's control. Borrower sball not destroy, dumage or impair the
<br /> Properiy. aiiuw thc Frupc,iy tu�icie�ioiate, cr cor���r;: tc;�i:.on the Psopert�. =?^^�aWer sltaii !`e ir. �lef?�!It jf any forfeiture
<br /> action or proceeding, whether civil or criminal,is begu�lhut in L.ender's goad faith judgment could result in forfeiture of the
<br /> Property or otherwise xnaterially impair the licn created by this Security instrume��tor Lender's sccurity interest. Borrower may
<br /> cure such a default and reinstate,as provided in paragrnph I8. by causing the actionnr proceeding to be dismissed with a ntling
<br /> that, in i.ender's good faith determination, pmludes forfeiture of the Borrower's interest in the Property or other muterial
<br /> impairment of che Iien creuted by this Security Instrumcnt or Lender's security interest. Borrower shall ulso be in default if
<br /> . R�rrower.during the loan application process. gave materially false or inaccurate information ar stutements to Lender(or failed
<br /> to provide Lender with any material information)i n connectinn with the loan evidenced by the Nute,including,but not limited
<br /> to. representations conceming Borrower's occupancy of the Praperty as u principal residence.If this Security Instrument is on a
<br /> • teasehold, Borrower shall comply with all the pravisions of the lease. If Borrower acquires fce title to the Property, the
<br /> leasehold and the fee title shali not merge unless Lender agrees to the mergcr in wriiing.
<br /> `• 7. Protection of Lender's Rights in the Property. If Borrowcr fails to perfom�the covenants and agreements contained in
<br /> : th9s Security Instrument, or there is a legal praceeding that may significantly affect Lcnder's rights in the Property (such as a
<br /> proceeding in bankruptcy, probatc, for condernnation or forfeiture or to enforcc laws or regulations), then I.ender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. I.ender's actions muy
<br /> �r include paying any sums secured by a lien tvhich has priority ovtr this Secudly [nstrument, appearing in court, paying
<br /> . reasonab(e attorneys'fecs and entering on the Property to make repalrs.AlthouSin Lendcr may take action under this paragraph
<br /> 7, i,endcr docs not havc to d�so.
<br /> Any nmounts disbursed by L.ender under this paragraph 7 shall become ;dditional debt of Borrower securod by this
<br /> Security Instrument.Unless Borrower and Lender agree to other terms of payme�u,these amounts shull bear interest from the
<br /> , date of disbursement at thc Note rate and shall be payable, with interest, upon noiicc from Lendcr to Borrower requesting
<br /> payment.
<br /> S. Mortgage Insurance.If I.ender requircd rnortgage insurancc as u conditi000f making the loan secured by this Security
<br /> [nstrument, Borcower shall pay the premiums required to maintain the mongage insurnnce in effect. If, for any rcason, the
<br /> mortgage insurnnce coveruge required by Lender lapses or ceases to be in cffat_ Borrower shall pay the premiums required to
<br /> obtain coverage substantially equivalent to the mortgage insur.+nce previausly in eftect,nt a cost substantially equival�nt to the
<br />- cost to Borcower of the mortgage insurance prcviously in effcct, from an alternaie rnoRgage insurer approved by Lender. If
<br /> substantiaily equivalent mortgage insurUnce coverage is nut available, Borrower slull pay to Lender each month a sum equal to
<br />_ ' ane-twelfth of the yearly mortgage insurance premium being paid by Bonower whrn the insurance coverage lapsed or ceused to
<br />- • be in effect. L,ender will accept, use and retain these payrnents as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 9f90
<br /> , Pape 3 of B
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