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<br /> 97-� 1105�3 �
<br /> S.Iiazard or Property Insurance. Borrowcr shall kccp thc improvcmcnts now exlsting an c�reaftcr crcctcd an thc Property
<br /> insured against loss by Cue,hazards uicluded within Ihe term "extended coverage" and any osher ha�ards,including ftoods or
<br /> tloading,for which Lender rcyuires insurancc.This Insurance shall be maintained in the amounts and for the periods that Lcndcr _
<br /> � rcquires.Tha insurance carrier providing the insurance shall be chosen by Borcower subject to l.ender's approvnl which shall not __
<br /> --'""' be unrcasooably withheld. If Borrowcr fails to maintain covcrage dcscribcd above, L.cnder may. at Lcnder's option, obtain .
<br /> �� coverage to pratect I.ender's rights in the Property in accordance with paragraph 7. _
<br /> All insurance policies end renewals shaU be ac:ceptable to Lender and shall include a stendard mortgage clause.Lender shall
<br /> - have thc rlght u�hold the policies and renewals. If L.ender requirrs,Borrower shall prompUy givc to l.cndcr all reccipts of paid
<br /> premiums and renewal nodces.In thc event of loss,Horrower shall givc prompt nodce w thc insurancc carricr and Lender.Lender
<br /> may make proof of loss i�not�nade prompQy by Borrower. _
<br /> Unless Lender and Boaower otherwisc agrce in writing, insurancc proceeds shall bc:applied to restoradon or repair of thc
<br /> � Property damaged,if the restoradon or repair is economically feasible and Lender's securiry is not lessened.If the reswrarion or _
<br /> � repair is not economically feasible or Lender's security would be lessened,the insurance procecds shaU be agplied to the sums
<br /> „ ' , secured by thLv Sccurity Instrument, whether or not then duc, with any excess paid to Borrower. If Borrower abandons thc � ..
<br /> �' � Property,or dces not answer within 30 days a notIce from I.ender that thc insurance currier has offered to seWe a claim,then
<br /> ?: • I.ender may coUect the insurancc proceeds.Lender may use ihe procceds to repair or restoro the Property or to pay sums sccurcd
<br /> by this Seciuity Insuument,whether or not then due.The 30-day period will begin when the noticc is given.
<br /> �; ' Unless Lender and Bosrower othecwise agree in writing,any application of proc:eeds to principal shall not extend or postpone
<br /> • the due date of the monthly paymen�s referred w in paragraphs 1 and 2 or change the amount of the paymcnts. If under paragraph
<br /> '�' 21 the Pr�perty is acquired by Lender, Borrower's right to any insurance policies end proceeds resulting from damage to the
<br /> Property prior to the acquisition shall pas.s W Lende�w thc extent of the sums secured by diis Security Inslxument immediately
<br /> prior w the acquisidon.
<br /> �,.�' 6.OccupAncy,Preservatjon,Maintenaace and Protection of the Property; Borrower's Loan AppBcation;Leaseholds.
<br /> ` Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execupon of --
<br /> _ ___._ :__.� rh��Ccciirity inswment end shell continue to occupy the PmpectY as Bocrower's principal msidence for at least one yesu after the
<br /> date of occupancp, unless L.ender otherwise agrecs in wriang, which consent shall ndt be unreasonably withheld, or unless
<br /> extennating circumstances exist which are beyond Borrower's conuol.Borrower shall not destroy,damage or impair the Property, _
<br /> allow the Property to deteriarate, or commit waste on the Property. Bonower shall be in default if any forFeiture acdon or -
<br /> pnocecding,whether civil or crimtnal,is begun that in Lender's goad faith judgment could result in forfeiwre of the Property or t
<br /> , otherwise materfally impair the Gen created by this Securiry Instrument or Lender's securiry interest.Borrower may cure such a �;
<br /> default and reinstate, as provided ln paragraph 18, by causing thc acdon or proccedIng w be dismissed with a ruling t�sst, in
<br /> � Lender's good faith deteiminatlon,precludes forfeiWre of the Bonowcr's intcrest u►ihe Property or other material impa�rment of �_
<br /> thc Gcn created by this Security Instrument or Lender's sccurity mtcresG Botrower shall also be in default if Borrowcr,during the �
<br /> � loan applicadon process,gav�:materially false or inaccurate information or statements to Lender(or failed w provide L.ender with �,
<br /> any material infonnation) in wnnection with the loan evidenced by the Note, including, but not limited to, representations =.
<br /> . conceming Bonower's occupancy of the Property as a principal residence.If this Security Insbvment is on s leasehold,Boaower —
<br /> � shall wmply with all the provisions of the IeaSe.If Borrc�wer acquires fee tide to ttie Property, the leasehold and the fce dde shall _
<br /> not mcrge unless Lcndcr agrees to the merger in wriung. �,:;;
<br /> 7.Prcte:.:ion af Lenslcr's RE6::t�tn the Praprtty. If Borrower fails to perform thc covenants and agreements contained in
<br /> this Security Instrument,or there is a Iegal proceeding that may significantly nFfect Lendcr's rights in tha Property(such as a �'---
<br /> - ' procc�ding in bankruptcy,probate.for wndemnadon or fodeiture or w enforcc laws or regulations).then Lender may do and pay -
<br /> for whatcver is nc;ccssary to protect the value of thc Property and Lendcr's rights in the Properry. Lender's actions may include -��`�
<br /> � paying any sums secured by a lien which has priority over this Security Instrument, appearing in coun, paying rcasonable �
<br /> attorncys' fccs and enbering on thc Property to make rcpairs.Although I.ender may take acdon under this paragraph 7,I.cnder '�
<br /> �=;;
<br /> - does not havc to do so. _
<br /> Any amounts disbwsed by Lender under this paragraph 7 shall become addiGonel debt oF Borcower secured by this Security -_�
<br /> ' InstnimenG Unlcss Boaower and Lcnder agrcc to other tcrms of payment,these amounu shall bcar intcrest from the date of
<br /> . disburscment at the Note ratc and shall be payablc,with intemst,upan nouce from Lender to Borrower rcqucsting paymcnt.
<br /> S.Mortgage Insurance. if Lendcr requacd mortgage insurance as a condiuo�of making ihe loan sec�red by this Securiry `�y=��`"
<br /> • Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effecG If, for any reason. the ����;
<br /> mortgage insurance coverage required by Lender lapses or ccases to be in effect, Borrower shatl pay the premiums required w °-;;:�:
<br /> obtain covccage substanually cquivalent to the mortgagc insurnncc previously in etfect, at a cost substandally equivalent to the °
<br /> cost to Borrower of thc mongagc insurar►ce previously in effect, from an altematc mongage insurcr approved by Lcndcr. If
<br /> � substantially equivalent mortgege insw�nce coveragc is not availablc,Bonower shall pay to I.endcr each month a sum cqual to
<br /> one-tweffth of the yearly mortgage insurance premium being paid by Bonower when the insurancc coverage lapsecl or ceased to
<br /> ibe in effecG Lender will accept, use and retain these payments as a loss n,serve in lieu of mortgage insurance. Loss reserve
<br /> _� � Form 302u 9190
<br />� - � 1.�.�.BRlNElro9t9�ot Paos 7 ot 6 InItIeU: ,
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