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<br /> S. fiarard or Property Insun� Borrowcr shell kap the improvements n�cxisting or hereafter crectod on the
<br /> Pmpeny insured egaiu�t loss by firc,hA��rds includod within the tarm "cxtcndod coverage" and any other ha:ards, Including
<br /> Ncwde ar floaling, for which I.cndcr rcqulres Insurance.Thls Insurance xhall be mainteined tn thc amounts sud far the per�ads
<br /> that [.endsr reyuires. Tne in9uranu carrier pravidin�thc insurnnce shall be chosen by Borrower subject ta Iander's approval
<br /> wl�icl►nhall nut!x; unrwsc�nably w[thhclJ. If Dorrower fwils tu muintain wverage descrlbed alx�v�,I.c:nJcr mwy. ut I.endcr's
<br /> aption,ubtAin cover�ge to protect L.ender'a rightF in the Property in accordance with paragr�ph 7.
<br /> Ali inxurance policfes und rcnewals shall be acc.�ptable ro Lender and xhall include a standard mongage clau.se. I.ender
<br /> ehall have the dght to hold thc policles and rencwals. If I.cnder requiras,Borrowcr shall promptly give to Lendcr all rectipts of
<br /> paid premiums and renewal notices.In the evcnt Qf lass,Borrower sha11 give prompt notice to the insurance carrier end I.ender.
<br /> Lender may make prcx�f af loss if not made prom�►tly by Bonower.
<br /> Unless f.ender and Borrower otherw(se agree in writ(ng.lnsurance proceeds shall be applied to restoratioa or repair of thc
<br /> Property damagod,if the rcstorallon or repalr ls e�onomically f�asible and L.cnder's sccurlty is not lesenal.If thc restoration or
<br /> rcpair is not ecanamically fcasible or Lerder's sccudty would bc Icssened, the insurancc procads shall be applied to the sumg
<br /> isecurod by this Security Instrument,whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br /> Property.or daes not answer wIthin 30 dayF a natice from Lender that the tnsurance carrler hus offered to settle a claim,then
<br /> Lender may collect the insurance pmcoeds. Lender may use the procads to repair or nston the Prqxrty or to pay sums
<br /> secured by thls Socur�ty Instrument.whether or not then due. 'fhc 30-day pedod will begln when the noticc is given.
<br /> Untess Lender and Borrow�r otherwlse agra in writing, any application of procads to principal ehall not extend or
<br /> postpone the due datc of the monthly payments referred ta ln paragraphs 1 ar�d 2 ar change the amount of tt6cc poymuits. If
<br /> under paragraph 21 the Property ls acquired by Lender, Horrower's r3ght to any insurance palicies and proceed�resulting from
<br /> dait�age to tlx Property prior ro the acquisitton shell pass to Lender ro the extent of the sums secured by thia Saurity Instruma►t
<br /> immediately prior ta the acquiaition.
<br /> 6.Occupwncy,Pnservatbn, Mrintenwnce and Protection of the Property;Borrower's LoAa Appllcatton; Le�seholds.
<br /> Borrower shall occupy,establish,and use the Property as Borrower's principal residence wlthin sixty days after thc execudon of
<br /> this Securiry Instrument and shall contiaue ta occupy the Property us Borrower's principal resldence for at lcast o�x year after
<br /> the date of occupAncy,unless L.ender othervvise agroes in writing, which consent shall not be unreasonably ta+ithheld,or unless
<br /> extenuating circumstancts exist which an beyond Bonower's control. Bornower ahall not destroy, damage or impair the
<br /> Properry. allow the Property to deterlurate. or commit waste on the Property. Borrower ahall be In default if any fodeiture
<br /> action or procoeding. whether clvil or crlminal, is bcgun that In Lender's gaod faith Judgment could result in forfeiture of the
<br /> Property Ar otherwise matarially Imp�ir the lien creatal by thi�s Security Insuument or Lender's security interest.BoROwer may
<br /> cure such a default and reinstate,as provIded in paragraph 18.by causing the sction or proceecling to be dismisud with a ruling
<br /> that. in Lender's good faith deteRnination, preoludes forfeiturc of the Borrower's interest in the Property► a other materiel
<br /> impaimunt of thc lien created by this Saurlry Instrument or Lender's secudty Interest. Borrower shall elso be in defw(t if
<br /> Borrower,during the loan appltcation proxss,gave materielly false or inaccurate information or stateanents to Lender(or failod
<br /> to provide Lender with any material information)in connection wlth the loan evidenood by the Note,including,but not limitod
<br /> to, representations concerning Bocrower's occupancy of the Property es a principal residence.If this Seeuriry Instrument is on a
<br /> 1eas�hold. Borrower shall comply wlth dl the provisiens of the lease. If Borrower acquires fee dde W the Property. the
<br /> leasehold and the fa title shall not merge unlcss Lencler agcres to the merger in writing.
<br /> 7.Protection or Lender's Rig6ts in the Propccty.If Borrower fails to perform the covonants and agrcarncnts wntainod in
<br /> this Security Instcument, or there is a ltgel procading that may significantly uffoct Lender's rlghts in the Property(such as a
<br /> procceding ia bankruptcy,probute. for condemnation or forfeiturc or to cnforce laws or regulations),then I.ender quiy do And
<br /> pay for whatover is necessary to protoct the value of the Property azxi Lender's rights in the Propetty. Lender's ections may
<br /> iaclude paying any sums secured by a lien which has priority over this Securlty Instrument, appearing in couK. pnying
<br /> reasonable attorneys'fees and entering on the Property to muke repairs.Although Lender may talce actfon under this par�grnph
<br /> _ 7,Lcnder does not have to do so.
<br /> • Any amounts disbursetl by L,ender undar this paragraph 7 st�atl become additional debt af Borrower securod by this
<br /> Socurity Instrument. Unless Horrower and L.ender agrec to other terms of payment.these emouats sl�all bear interest from the
<br /> ' date of disbursement at the Note rate and shall be payable. with intenst, upon notice from Lender to Borrower requesting
<br /> t payment.
<br /> � 8.Mortg�ge Insurnnca If I.ender required mortgege insurance as a c:onditlon of making the loan saurod by this Secur[ty
<br /> r Instrument, Borrower shall pay the premiums required to maintctin the rnortgagc insurance in effat. If,far u►y crason. the
<br /> ` mortgage insurunce coverage required by Lender lapsea or ceases ro be i��effect, Borrower shall pay the prerniums rcyuirod to
<br />�i obtain coverage substantially oquivalent to the mortgage insurance prevlously in effect,ut a cost substantiaily��quivalent to the
<br /> • cost to Borrower of the inortgage insurance previously in effect. from an nSternate mortgage insunr approved by Lendar. If
<br /> , substantiatly cquivalent mortgagc insurancc coverage is not available,Borrower shall pay to L.ender each month a sum equal to
<br /> : one-twelfth of the ycarly mortg�ge insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> '. be in effect.l.ender will accept,use and reiain these payments as a loss reserve in lieu of mortgage insurena. Loss reserve
<br /> 1 Fam 9028 8190
<br /> Pep�3 ot 8
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