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<br /> S. [i�u.�rd �n' PrapeMy Insurancc. Bi�rrnwer �hall kce� thc improvemcntti nuw exititing o�' hcrcu0cr crcc:tcd un thc �
<br /> Property insured uguinst loss by fire,hazards included �vith(n the term "extended ccweragc" und any othcr hu�;�dti,uecludmg
<br /> floixls or tlonding, f'or which Lcndcr requires insurance. This intiurancc shull bc muintainrd in thc amauntti nn�i fnr thc periixts
<br /> that [.cndcr rcquircti. Thc insurancc curricr providing thc insur:ancc shull bc chmcn by Burrmvcr subjcct tc�l.�ndcr'�npprovul
<br /> which shall not be unrcasanably withhcld. If 8orrowcr fails to maintuin coverage described above, Lcnder n�uy, tit I.cndcr's
<br /> uption.obtan coverage ta protect Lender's rights in the Property in accordance with parugraph 7.
<br /> AU insurance polici�anJ renewals shall be ncceptab{c to Lender und shall include a standard tnortgage rlause. L.ender
<br /> shall have the right to hold th�policies and reaewals If l.ender requires,Borrower shall promptly give to I.cndcral l rcreipts of
<br /> paid prcmiums and renewal notices. In the event of loss, Horrower shaU give prompt notice to the inxurance curTier and I..ender.
<br /> Lender may make proc�f af loss if not made pramptly by Bonowcr.
<br /> Unless I,ender and IIorrower atherwise agree in writing,insurunce proceecls shall be applied to restaration or repair of the
<br /> Praperty damagod.if the restoratlon or repuir is economically feastble and Lender's security is nat Icssened.If the�estor�tton or
<br /> repair is not eoonomtcally feasible or Lender's security would be lesscned, the insurince proceeds shall be nppli�d to the sums
<br />- secured by this Security lnstrument,whether or nut U�en due. with nny excess pald to Borrawer. if Borrower abandons the _
<br />. praperty, or does not answer widiin 30 days a notice fram Lender that the insurance can•icr hus offercd to set tle a cluim. then
<br /> L.ender rnay collect the insurance proceeds. Lender may use the proceeds to repair ar restare the Propeny or to pay sums
<br /> secured by this Security Instn�ment.wliether ar not then due.The 30-day period will begin when the notice is given_
<br /> Unless Lender and Borrowar othenvise agree in writing, any application of proceeds to pdncipal shall not cxtend or
<br /> postpone the due date of the monthly payments refened to in paragrnphs I and 2 or change the amount of the pAyments. If �-
<br /> under paragraph 21 the Property is acyuieed by Lender. Horrower'S right to any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lendcr to the extent of the sums sccured by this Security Instniment
<br /> ' immediately prior to thc ucquishion.
<br /> • 6,pccupancy,Preservation� MAtntenance and PratecQon of the Property;Borrower's Iw�an Application; I.easeh�lds.
<br /> Borrower shall occupy,estublish,and use the Property as Horrower's principal resldence within sixty days afler the execution of
<br /> this seturicy jnstrumem and sh�if wuti�iuc io vr.�-apy ilt:.Prois�r:l's•`•H�rr�wer'�pryn�ipal residence for at Ieast one year after
<br /> the dute of accupa��cy.unless Lender othenvise agrees in writing,which consent shaU not be unreasonably withheld,or unless
<br /> extenunting cdreumstances exist which nre beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> property,ellow the Property to deteriorate. oT commit waste on the Property. Barrower shall be in default i(any forfetture
<br /> action or proceeding. whether civil or criminal, is begun thac in Lender's good faith Judgment could result in fa�f'eiture of the
<br /> ' Property or otherwise materially impair the liea created by this Security Instrument or Lender's security interest.Sorrower tt�ay
<br /> cure such a default and reinstate,as provided in paragraph 18, by causing the actton or proceeding to be dismissed with a ruling
<br /> . that. in Leader's good faith determination. precludes forfeiture of the Borrower's fnterest in the Property or other materfal
<br /> imp�irment of the llen created by this Security Instrument or I.ender's secur�ty interest. Borrower shall dso be in defsult if
<br /> . Borrower,dudng the loan sppllcation process,gave muterially false or inaccurate information or statements lo Lender(or failed
<br /> ' to provide L.ender wiU�any material infonnation)in connectlon with the loan evldenced by the Note. including,but not limited
<br /> '� to, representations concerning Bonower's occupancy of the Properry es u pdncipul residence.If this Security I nstrument is on a
<br /> • Ieasehold, Bonower shall camply with ull the provisions of tlie lease. If Borrower acqulres foe title to tlie Property, the
<br /> leasehold and the fee title shaU not merge unless Lender agrecs to the merger in writing.
<br /> 7. Protectlon oi Lender'a Rights in the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> this Security Ynstcument,or there is u legnl procec�ding that may significandy affect I.ender's rights in the Pruperty(such As a
<br /> ' proceccling in bankruptcy.probate.for mndemnatton or forfeiture or to enforce laws or regulatiuns),then Lender may do nnd
<br /> pay for whatever is necessary to pratect the v�lue of the Property �rxl Lender's dghts in the Property. Lenda's actions may
<br /> include paying any sums secured by a lien which has prlosiry over this Securiry Instcument, appearing in court. paying
<br /> � reasonable attomcys' fees and entcring on the Property to make repa�rs. Althaugh Lender may tJce acti�n undcr this paragraph
<br /> 7, i.cnder d.xs not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 1 shall become addttional drbt of Borrower securcd by this
<br /> Security Instrument. Unless Borrower s►nd L.ender agree to other terms of payment, thesQ amounta shall bear'interest from the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from [.ender to Bo rrower requesting
<br /> payment.
<br /> 8. Mortgage Imurance.If Lend�r required mortgage insurance as a condition of making thc loan secured by this Secudty
<br /> Instmment. Borrower shall pay the premiums rcquired to malntuin the mortgage insurancc in effect. If,foreny reason. tho
<br /> mortgagc insurance coverage required by Lender lapscs or oeases tm bc in effect, Borrower shaU pay the pretniums requircd to
<br /> obtain coverage substantiaUy equivalent to the mortgage insurance previously in effect,ut a cost substantially equivnlent to the
<br /> cost to Honower of the mortgage insur�nce previously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> substnntially equlvalent mortgage insurunce rnverage is not available.Borrower shall pay to I.ender each month a sum equul to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Bonower when►he insurance coverage l apsed or ceased to
<br /> be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortguge insurance. Loss reserve
<br /> Form 3048 9I90
<br /> P�pe 3 0l O
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