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<br /> S. Hazard or Property Insurance. Bonower shall keep the improvcments now existing or hePeufter erccted on the
<br /> Property insured agalnst loss by fire, hauuds included within the term "extended coveragc" and any other hazards, including
<br /> floods ar flooding,for which Lender reyulres insurance. This insururice shall be maintnined in the amounts and for the periods
<br /> that L,ender requlres. The insurancc carr�er praviding the insurance shall be chosen by Barrawer subject to l.ender's approval
<br /> _ which shall not be unreasonably withheld. If Barrower fails to maintain coverage described elxive, I.ender may, at Lender's
<br /> option.obtaln coverage ta pratect i.ender's rights in the Property in accordance with paragraph 7.
<br /> All lnsurance policies and renewuls shall be u�ceptable to Lender and shall include a swndurd mortgnge clause. Lender
<br /> shnll huve the right to hold the policics and renewnls. If Lender requires,Borrower shaU promptly give to Lender all receipts of
<br /> paid premiurns and renewul natices. In the event of loss,Borrawer shall glve prompt notice to the insurance carrier and Lender.
<br /> l.ender mny make proof of loss if not made promptly by Borrower.
<br /> Unlcss Lendcr and Borrower otherwjse agree in wrIting, insurance proceeds cha�l be applied to restoration or repair of the
<br /> Property damaged,ff the.�estoration or repair is econamIcally feasible and L,endcr's secudty is not lessened. If the restoration or
<br /> repair is not economically feasible or I.ender's security would be Iessened, the insurance procee�is shall be applied to the sums
<br /> secured by this Security Instrument. whether or not then due, witli any excess paid to Borrower. If Borrower abandons the
<br /> Property,or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then
<br /> L.ender may collect the insurance proceeds. Lender may use the praceeds to repair or restore the Propeny or to pay sums
<br /> secured by this Securlty Instrument,whether or not then due.The 30-day perIod will begin when the notice is given.
<br />_ Unlc.aa [.ender and Bonower othenvise ugree in writing, any application of proce�ls to principal shall not extend or -
<br /> postpone the due date of the monthly payments refened to in parugraphs 1 and 2 or change the amount of the payments. If '
<br /> under paragraph 21 the Properry is acquired by I.ender,Borrower's right to any insurance palicies and proceeds resulting from
<br /> damage to the Property prior to the acquisltion shall pass to L.ender to the extent of the sums secured by this Securlty Instrument
<br /> immediately pdor to the acquisltion.
<br /> 6. Occupancy,Preservation,Maintenance and Pirotectlon of the Property;Borrower's Loan Application;Leaseholds.
<br /> Borrower shall occupy,esWblish.and use the Property as Bonower's principal residence within sixry days after the execution of '
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principal residence far at least one year after
<br /> the date of occupancy, unless Lender otherwise agrees in writing. which consent shall not be unreasonably wIthheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> , Property,nllow the Property to deteriorate, or commit wastc on the Property. Borrawer shall be in default if any forfeiture
<br /> acdon or proceedine, whether civil�r cr�miaal, Is L+c�n ilist in Lcadcr's goo�faiih judgnerd walS rr�uIi in fori'eicure of the
<br /> Property or otherwise materially impair the lien created by this Security Ynstrument or Lender's secudty interest. Borrower muy
<br /> cure such a default and reinstate,as provlded in paragraph 18,by causing the action or proceeding to be dismissed wIth u ruling
<br /> . thut, In Lender's good faith determination. precludes farfeiture of the Bonower's interest in the Property or other material �
<br /> impairment of the IIen created by this Secudty Instrument or L,ender's secudty Interest. Borrower shnil alsa bc in default if '
<br /> •� Borrower,during the loan application pracess,gave materially false or inaccurate informatIon or statements to L.ender(or failed '
<br /> . to provide L.ender with any material Information)In connection with thc loan evldenced by the Note,iacluding, but not limited �
<br /> �� to.representallons concerning Bonower's occupancy of the Property as u princIpal residence.If this Security Instrument is on a
<br /> '� leasehold, Borrower shall comply with all the provis[ons of the lease. If Bonower acqu{res fee title to the Property, the �-
<br /> � leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br /> 7.Pt+otection o[Lender's Rlghts in the Property.If Borrower fails to perform the covenants and agreements contained in �
<br /> this Security Instrument, or there Is a legal proceeding that muy significantly affect Lender's r�ghts in the Property(such as a
<br /> proceeding in bankruptcy. probate,for condemnation or forfeltare or to enforce luws or regulations), then L.ender may do anc!
<br /> . pay for whatever is necessary to prot;.ct dte value of the PropeRy and I.ender's rights in the Property. Lender's actions may •
<br /> include paying any sums secured by a lien which has prlority over this Secuiiry Instrument. appearing in court, paying
<br />_ . reasonable attomeys' fees ar►d entering on the Property to make repairs.Although Lender may take action under this paragraph
<br /> . 7.Lender dces not have to do so. . �
<br /> � Any amounts disbursed by Lender undar this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Securiry Instrument. Unless Bonower and I.ender ngree to other terms of payment, these amounts shalt bear interest from thc �
<br /> date of disbursement at the Notc rate and shall be payabie, with interest, upon norice from Lender to Borrower reqaesting
<br /> payment.
<br /> �, 8.MortgAge Insurance.If Lender required mortgage insurance as a condltion of making the loan secured by this Security
<br /> Instrument, Borrower shell pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the ;
<br /> mortga�e insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to
<br /> obtain cover�ge substantially equivalent to the mortgage insurance previously in effect,ut a cost substandally equivalent to the ,
<br /> cost to Borcower of the mortgage insurance previously in effect, from en alternate mo�tgage insurer approved by I.ender. If '
<br /> substantially equivelent mortgage insurance coverage is not available, Boirower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium beins paid by Borrower when the insurance coverage lapsed or ceased to '
<br /> . be in effect. L.ender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve '
<br /> Form 3028 9/90 '
<br /> Pope 3 0l 8
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