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<br /> �`�-� 1C�9�65
<br /> S, Hwzard or Property Insurance. Borrowcr st�nll kecp the Improvements now existing or hereafter erected on ths
<br /> Prapeny insured aguinst loss by firc, hnzards included within the tcrm "extended covcrage"nnd nny othcr hazards, including
<br /> 1lcxids or floading,for which I.endcr rcquires insurance.Thls insurance shall bc meintuined in the amounts and for thc periods
<br /> that Lender requires. The insurance currier providing the insurance shull be chosen by Borrower subject to I.ender's approval —
<br /> which shall not be unreasonably withheld. If Borrower fails to maintain coveroge Jesc►•ibed abov�. Lcnder may. at Lender's _
<br /> optian,o6tain coverage to protect Lender's rights in the Property in accordunce with paragraph 7.
<br /> All insurance policies and renewnls shall be acceptable to Lender and shall include a standard mortgage clausc. Lender
<br /> shull have the right to hold the policies and renewals.If Lender requires,Borrower shnll promptly give to i.ender all recetpts of
<br /> paid premiums and renewal notices.In the event of loss.Borrow�r shall give prompt notice to the insururce currier and Lender.
<br /> I.ender may make proof of loss if not made pramptly by Bonower.
<br /> Unless Lender and Bottower otherwtse agree in writing.insurance proceeds shall be applled to restoration or repa3r of the
<br /> Property damaged,if the restoration or repair is econoroically feasibte and l.ender's security is nat les�ened.If the restoratlon or
<br /> repair is not economically feasibte or Lender's security would be lessened,the insurance proceods shall 6e applied ta the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Bonower. If Bonower abandons the
<br /> Property,or dces nat answer within 30 days n notice from Lender that the iasurance carrier has offered ta settle a claim. then
<br /> Lender may collect the insurance proceeds• Lender may use the procecds to repair or restore the Property or to pay sums
<br /> s�cured bv this Sccurity Instrument,�vhethr,r or not then due.The 30-day period will hegin when the natice is given.
<br /> Unlc..� l.ender and Borrawer otherwise agrec in writing, any applicution of proceeds to principa! shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragcaphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender.Borrower's right to any insurance policles and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immediately pdor ro the acquisition.
<br /> 6.Occupuacy,Preserr'ation,Me[ntenance and Protectlon of the Property;Burrower's Loan Applicatton;Lea.4eholds.
<br /> Borrower shall occupy,establish,and use the Propeny as Borrower's principal residence within sixry days after the execution of
<br /> this Security Instrumenc and shall contlnue to occupy the Property as Borrower's principal residence for at least one year after
<br /> the clate of occupancy,unless I.ender otherwise agrees in writing, whtch consent shall not be unresisonably withheld.or unless
<br /> extenuatins circum�tances exist which are beyond Borrower's wntrol. Borrower shall not destroy. damage or impair the
<br /> I•ra�3.��!las;tl�e progem, t��IPrP�iorate, or commit waste on the Property. Borcower shall be in default if any forfeiture
<br /> uction or proceeding,whether civil or criminal, is besun that in Lender's good faith judgment could resutt m foriei[ure of�he
<br /> Property or otherwise matc�ially impuir the lien created by thts Security Instrument or Lender's securlty interest.Honower may
<br /> cure such a defnult and reinstate.as provided in parngraph 18,by causing the action or procee�iing to be dismissed with a ruling
<br /> that,in Lender's goad faith determination. precludes forfeitur� of the Borrower's interest in the Property or other matedal
<br /> impairment of the (icn created by this Security Instniment or Lender's security interest. Bonower shall also be tn default tf
<br /> Borrower,during the loan application process,gave materially false or inaccurate information or statemenu to Lender(or fallai .
<br /> ta provide Lender with any material Information) in connectton with the loan evidenced by the Note,tncluding,but not limited
<br /> to. representutions conceming Borrower's occupancy of the Propeny as a principal residence. If this Securlty Inst�ument is on a
<br /> Ieasehald, Borrower shall comply with all the provisions of the lease. If Borrower acqulres fee title to the Property, the
<br /> leasehold and the fee titla shall not merge unl�cs L.ender agrees to the mecger in wrlting.
<br /> 7.Protection otLender's Rigltts In the Property.If Barrower fails to perform the covenants and agreements wntained tn
<br /> this Security Instrurnent,or thero is a Iega1 proceeding that may significantly affect I.ender'a rlghts in the Property (such as a ;
<br /> proceecl[ng in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations). then I.ender may do sud ,
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in tht Property. 1.ender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court. paying
<br /> reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may take action under this paragraph
<br /> 'l.Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this parag�aph 7 shall become additional debt of Borrower secured by this
<br /> Stxurity Instrament.Unless Bonower and Lender egree to other terms of payment, these amot�nts shall hear intemst from the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from I.ender to T�orrowcr requesting
<br /> payment.
<br /> 8.MortgAge Insurance.If Lender requireci mortgage insurance as a condition of making the loan secured by this Securlty
<br /> � Instrument. Borruwer shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason,the
<br /> morigage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums requimd to
<br /> obtain coverage substantially equivalent to the mortgage insu�artce previously in effect,at u cost substantially equlvalent to the
<br /> cost to Borrower of the mortga�e insurance previously in efiect, from an altemate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is nut available.Borrower shall pay to Lender each month a sum equal to
<br /> onc•twelfth of the yeariy mortga�e insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> -- be in effect. [,ender will acc:ept. use and retain thcsc payments as a loss rcserve in lieu of mortgage insuranoe. I.oss reserve '
<br /> Form 3028 9/90
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