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<br /> ?^lj,;;;,�: S. H�zyrd or Praperty InsuryillC Borrowcr shall kecp thc improvements n�existiug on c�reufter erected an the
<br /> Pmpert}� insurcd uguinst loss by firc, ht►uirds includcd within thc tcrm "cxtcndui cavcragc" und any othcr hu•r.�irds, including
<br />"-=��t, flexxls ur flcxxling, for which Lender rcquires insuranca This insuruncc shaU be muintuinai in the amounts und for the periads
<br /> . . that I.endcr rcquires. Thc incurancc civricr providing thc insurancc shall hc chuscn hy Bnrro�scr subjcct ta Lcadcr's apprnval
<br /> ';4� _ whicl� shall nat be unreasonably withheld. If Borcawer fails to maintuin caveruge described above, l.ender may, at Lender's
<br /> LL ,. optinn, ��btuin covcragc to proicct L.cndcr's righh in thc Propeny in acco�dancc with pnrugrnph 7.
<br /> ::.....+r� AII Ilitilll'�11CC rOIICICS anci renewuls shull be uccepinble to Lender und shall include u staixiurd mortgnge clause. Lender
<br /> ""'� shull have th$right to hold the pc�licies nnd renewals. If Lcnder reqaires,Barrower shull promptly give to Lendcr all receipts c�f
<br />� ' paid premiums und renewal notices. ln the event of loss,Borrower shall give prompt natice ta the insurance carrier und Lender,
<br />"`'"��'� I.ender may make pronf uf loss if nut mude pmmptly by Borrower.
<br />��'' ' � Unless Lender und Borrower otherwise a ree in writin msurunce roceeds shull be u lied to restorution ar re wr of the
<br /> ' -;>;:. S S� � • P PP � P �
<br />;��.,: ,_ Praperty damaged,if the resroration or repair is economically feusible and Lender's security is not lessened. If the restomtion or
<br />-�;�' repair is not cconomically feasiblc or L,ender's security would be lessened, the insurnnce procc�s shall be applied to the sums
<br />___;,t�� secured by this Security lnstmment, whether or not then due, with any excess paid to Borrower. If Horrower abandons the
<br /> _ _ Property,or dces not answer within 30 days a notice from I.ender that the insurance carrier has offered to settle a claim, then
<br />__�= Lender may collect the insurance procceds. [.ender may use the proceeds to repair or restore the Property or to p1y sums
<br /> __;ti� secured by this Security Instrument,whether or not theu du�.The 30-day period will begin when the natice is given.
<br />'�=� Unless Lender ai�d Borrower othenvisc ugree in writing, any upplication of proceeds to principal shall not extend or
<br /> �- postpone the due date of the monthly pnyments refcrred to in paragraphs I and Z or change the amount of the payments. If
<br />__�� under parngraph 21 the Propeny is acquired by Lcnder, Bonower's right to any insurance policies and proceeds resu9ting from
<br /> dumage to the Property prior io the acquisition shall pass to I.ender to the extent of the sums secured by this Sccurity 4nstrument
<br /> ��� immediately prior tu the acqa.�isitiim.
<br />— _ 6.Occupancy,i'reservaition,Maintenance und ProtecHon of the Property;Borrc�w�er's Loan Applicadon;L.easeholds.
<br /> "°"� Borrower shall occupy, establish, and use the Propeny as Borrower's principal residence within sixty days after the execution of
<br /> - this Securiry Instrum�nt and shal I continue to occupy the Property as Bottower's principal residence for at least one year after
<br /> �� the date of occupancy, unless Lender otherwise ngrees in writing, which consent shall not 6e unreusonubly withheld, or unless
<br /> - extenuating circumstnnees exist which ure beyond Borrow•er's control. Borrower shull not destroy, damage or isnpair the
<br />_= Pm�nv, 31t�yr Lh�PfQ�n�;� �+�tcria:ais, ar:orzur,;t w;��e ;,r, ttia F►uperty. Bc�rruwer shaii be in deiuuh �f any sorieiturc
<br /> nction or proceeding, whethe.rcivil or criminal, is begun that in Lender's goai faith judgment could result in forfeiture af the
<br /> Property or othemise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may
<br /> cure such a default nnd reinsta�e, as provided in paragraph I8,by causing the action or proceeding to be dismissed with a ruling
<br /> that, in Lender's good fuith determination, precludes farfeiturc of the Bonower's interest in the Property or odier material
<br /> • impairment of the lien created by this Security Insttument or Lender's security interest. Borrower shall ulso be in default if
<br /> __�, Borrower,during the loan application process,gave materinlly false or inaccurate informution or stntements to Lender(or fuiled
<br /> to provide Lender with uny rnaterinl infarmation)in connection with the loun evidenced by the Note. including,but not limited
<br /> to, representetions concerning Borrawer's occupancy of the Property as u principal residence.If this Security Instrument is on a
<br /> � leasehold, Bonowcr shall comply with ull the provisions of tl�e lease. [f Borrower acquires fee title to the Property, the
<br /> , leasehold nnd the fee ti[le shull not mergc unless Lender agrees to the mergcr in writing.
<br /> , 7.Protection of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreements conteined in
<br /> this Security Instrument,or there is a Iegal proceeding that may significantly uffect Lender's rights in the Pmperty (such as a
<br /> � � proceeding in bankruptey,prabate, for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and
<br /> • pay for whatever is necessary to protect the value of the Property and Lendcr's rights in the Property. i,ender's actions muy
<br /> include pnying an,y sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> reasonable attorneys'fees and entering on thc Property to make repairs. Although Lender may take action under this parngraph
<br /> 7,Lender dces not have to do so.
<br /> • Any amounts disbursed by Lender under this parngruph 7 shall become additional debt of Borrower secured by this
<br /> Sccurity Instrument. Unless Borrower and Lender agree to�ther terms of payment, these umounts shall bear interest from the
<br /> d:tte of�isbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrowcr requesting
<br /> payment.
<br /> 8.Mortgage Insurance_1(L.ender required mongage insurance as a condition of making the loan secured by this Sccuriry
<br /> Instrunxnt, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the
<br /> mortgage insurance coverage reyuired by Lxnder lapscs or ceases to be in effect, Borrower shall pay the premiums required to
<br /> _._� obtain covernge substuntially equivalent to the mort�age insurance pmviously in effect, at a cost substantially equivalent to the
<br /> _ ___ cost to Borrower of the mortgage insurance previously in effcct, from an altcrnate mortgugc insurer approved by Lender. If
<br /> __ substantially equivalent rnorcgage insunmce coverage is not avuilable,Borrower shall pay to Lender each manth a sum equal to
<br /> , one-twelfth of the ye�►rly mortgage insurance premium being pnid by Borrower when the insurance coverage lapsai or ceasr.d to
<br /> _-__= be in effect.Lcnder will accept,usc and retain these payments as a loss reservc in licu af mortgage insurance. Loss reserve c
<br /> —=__= Form 8028 9/90
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