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<br /> S. tl�x�rd or Proprrly ItusurnlR: R��rcawer Rhull kccp tl�e Imprnven�ent� n�cxisting o�''hcrea(ler erectcd on thc
<br /> Pmperty insured agninrt loss by firc, ha��nls inctudcd within the temi "eate�xicd covcrage" and uny athcr huturds, including
<br /> tloods or fl�xxliug, for which l.e�xter rcyuires insurunce. ThiR insuraixe shall be muintuinai in tne umaunts and for the periods
<br /> thut I.e�xler reyuire.r•. The in+umnce currfer providing the insurnnco shul l be chosen by �nawer�+ubject to l.ender's epproval
<br /> which shall not tx;unrea�unubly withbclJ. If Rur��otieer fnils to ntain�nin mvera�e de4cribed ohova, I.�ndcr mny, at I.er�der's
<br /> uption,obtufn caverage to protcct l.crxier's righls in the Aroperty In aca�rdunce with p�+rugrnph 7.
<br /> All insurancc poltcics und renewuls shull bc ucceptnble to Lender and shall include a staMiard mortBage clause. l.tnder
<br /> shull huvc tl�e right ta hold the pulicics and renewals.lf Lender requircs. Borrower shall promptly givc to Lender all rcceipts of
<br /> paid premiums and rcnewul notices.ln the event of loss, Horrower shdl give prompt natice to the insurnnce currier and I.ender.
<br /> l.cnder nwy make proaf of loss if not made promptly by Bonowe�.
<br /> Unlcss I.ender u�x!8orrower otherwisc agrcc in writing.Insurancc proceods shail bc c►ppHed ta restoration or repalr of the .
<br /> Property damaged.if the restoration or repuir is economically feasible and i.ender's security is not lessened.lf thc restoratfon ox ;
<br /> repair is not economtcally feasible or Lender's security would be lessened, tho insuranco procecds shall t►e aQplied to the sums
<br /> secured by this Security Instrwnent, whether or not then due. with eny excess paid to Bottower. If Bonov,r�r ceUandons the
<br /> Properry. or dces not answer within 30 days a noUce from l.ender that the insurance carrier has offered to sstde a cLsir.n,than
<br /> Lendcr may collect thc insurance proceeds. Lender may use thc procecds to repair or reston the Propeiry or to pay sums
<br /> securcd by this Security Jnscrument,whuher or n�t then due.The 30-day perial will begin when the notice isglven. •
<br /> Unless Lender and Borrower atherwise ugree in writing. any applicatim� uf�roceeds ta principat sha11 nat cxtend or
<br /> postpone the duc date of the monthly payments rcferred co in parngrephs 1 and 2 or change the amount of the paymeats. If �
<br /> under paragraph 2.1 the Property is acquired by I.ender, Borrawer's rfght to any insurance policies and proceeds resulting from
<br /> dwnage to the Property prior to the acquisition shall pass to i.ender to the extent of the sums securod by this Security Inspvment
<br /> immediateiy prlor to the ucquisition.
<br /> 6.pocupnncy,Preservation,Maintenance and Protection oi the Property;Bormwer's Loan Applicatfon; La�.�eholds.
<br /> Borrower shall occupy.establish.and use the Property as Borrower's principul residence within sixty days after the execudon of
<br /> this Security Instcument and shall condnue to accupy the Property sis BortowaPs principal rtsidence for at least one year after �
<br /> 1he date of occupancy.unless Lender othcmise agrees in writing, which consent shall not be unnasonably withheld,or unless
<br /> eatermating circumstances exist whIch are beyond BorruwePs co�trol. Bnrrower s6a11 not destroy, damage or lmpair the
<br /> Property. ullow the Property to deteriornte. or oommit waste on the Property. Borrower shall be in default if any forfeitun
<br /> action ar ptnceeding, whether civit ur cnrrunai, is begun that in Le�xicr'��uixi feiti'i ja��r.t raul3 r�uls{n forfaiteu�af tt:e
<br /> Propecry or otherwlss materially impair the lien created by this Secudty Instrnment or I.tncler's security Interest.Borrower may
<br /> cure such a default w�d rcinstate.as providal in paragreph 18,by causing the action or proceoding to be dismissed with a niling
<br /> that. in Lender's good faith dctom�ination. precludes tbrfetture of Ihe Borrower's intcrest in the Property or other auterial
<br /> impaimxnt of the lien creatod by this Security Insttument or Lender's aocuriry intenst. Bo�mwer shall also be in default if
<br /> Borrower,during the loan application process.gave matedally false or inaccurate inforcnatIon or statements to Lender(or failod
<br /> to provide Lender with any matedal informaHon)[n cannection with the loan evidenced by the Note,including.but not limitod
<br /> to.reprcsentadons conceming Batrower's occupancy af the Propecty es a principal residence.If this Securiry Insuument is on a :
<br /> leasehold. Borrower shaU aomply with all the provisions of the lea+e. If Borrower acquIres fce dtle to the P'roperty. the
<br /> leaseiwld and the fec tttic ahnll not mcrge unless Lender a�r�s to the mergcr in writiag.
<br /> 7,Prutection of I.mder's Rights tn the Property.If Borrower feils to perform the covenants and agraments cnntained in
<br /> this Security Instnurunt,or there is a lagal procceding that may signtHcantly affcet Lender's rights in the Property(such as a
<br /> proceeding in bankruptcy. probate, for condemnation or forFeiture or to enforce laws or regulations),then Lt.nder may da and
<br /> pay for whatever is neassary to protect the value of the Property and Lencler's dghts in the Propt�ty. Len3er's actions f��ay
<br /> lnclude paying any swns saured by a lien which has priority over this Securiry Instrument, ap�earing in coun. paying
<br /> reasonable attomeys'fees and entcring on tha Property to make repairs. Although L.ender may take aMion under this pangnph
<br /> 7,I.ender does not have to do so.
<br /> " Any anwunts disburscd by I.ender under thjs paragrupli 7 shall become adrlirional dcbt of Bomower secure� by this
<br /> • SecurIty Instrument. Unless Borrower and Lender agne to other terms of payment, these amounts shall txar inte�est from the
<br /> - date of disburaement at the Note rate and shall be payable, with interest. upon nottce from Lender to Borrower requesting
<br /> . payment.
<br /> 8.Mortgnge Imurarwe.If Lender required mortgage insuranc.e as a candltion of making the lwm securod by this Security
<br /> i InsUvment, Borrower shail pay the premiums required to maintain the mortgage ensurana+re cffect. If. for any reason, the
<br /> � mortgege insnrance wverage requ[rod hy Lender Iapses or ceases to be in effect.Borrower shall pay the prtmiums nquirtd to ,
<br /> � obtain ooverage substantlally equivalent to the mortgage in5urance previously in effect,at a cost substantially equivalent to the
<br /> � cost to Borrower of the mortgage insurance previously in effect, from an ulternate mortgage insurer approved by L.ender. If
<br /> � substantially equivnlent mortgage insurance coverage is not uvailable,Borrower shall pay to Lender each mon�r}i a sum equal to
<br /> � one-twelfth of the yearly�tto»gage insurance premium being paid by Borrower when the insurance coverage lapsod or ceased to
<br /> ; be in effect.Lender will accept. use and retuin these payments as a Ioss reserve in lieu of mortgage insurance. Loss reserve
<br /> Fottn 3028 9/90
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