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<br /> S. Haxs�rd or PropeMy Insur�nce. 9orrower sliall keep thc'iTn l�rovements now existing or I�ereaftcr erected on thc
<br /> Property insureci egainst loss 6y fire, hazard.r• includai within the term "extend«i coverage" and any other hucards, including
<br /> flcxxis os floacling,for whi.h �.ender reyuires insurunce, This insurancc shull be mnintuincd in thc umuunt�unJ for tlio perials
<br /> Ihut l.erxler requires. The insurance carrler providfng the insurunr.e shull be cliosen by Barrower suhject to Lencler's uppravul
<br /> which xhall not ix unreasc�nubiy withheld. !f ki��rrowcr f'uily to muinu�in covcrage describcd ub�+ve, I.endcr muy, nt Lender's
<br /> op�inn,c►btein coveruge to protect L.erxler'n rigf�ty in 1he Propeny in ucenrdance with paragruph 7.
<br /> All iucurance�licies und rencwuls shull tw uccep�ublc to l.eixicr u�id tihull hlclude u stunclu�d mortgngc cluusc. L.erx�er
<br /> Rh�ll huve thc right to hold the policfas and renewals. lf l.erxler rcyuirey,Horrower shull promplly givc to l.endcr ull receipts of
<br /> pnid premiums iuKl rriuwnl notlees. In the event of loss,Borrmver shall give prampt notice to the insurrmce currier arxl Ixnder.
<br /> I.ender may make prcx�f of loys if ne�t made promptly by Bc�rrawer.
<br /> Unle�;s I..ender and Borrower othenvise agree in writing, insurance proceeds shsll be app��a1 to restorutbn or repair of the
<br /> Property danwgai,if the restoretion or repair Is economically fensible und Lender's security is not Icssened. If tlic restarntion or
<br /> repair is not economically feasible or Lender's security would be lassened, the insurance proceals shull be applied to the sums
<br /> secur�d by this Security Inst�ument, whether or not ►hen due, with any excess paid to Borrower, If Bonower abandons the
<br /> Property, or does not unswer within 30 days a notice from I.encier that the insurance carrier has offered to settle a claim. then
<br /> Laxler may collect the insurance procads. Lencler rtu�y use the procads to repair or restore tiie Praperty or to pay sums
<br /> sccurcd by this Security Instsumont,whether or not then due.The 30-day period wfll bcgin wtien thc notice is given.
<br /> LJnless Lender and Borrower otherwise agree in writing, any application of prnceeds to princlpal shall not extend or
<br /> postpone thc due date oF the monthly payments referred co in paragraphs 1 and 2 or change thc amcwnt af the payments. If
<br /> under paragraph 2! the Property is acquirod by Lender,Borrower.'�right to Any insurance policiea nnd procads r�sulting from
<br /> damage to the Property prior to the acquisition shall puss to Lender to the extent of the sums sccured by this Socuri[y Instrument
<br /> immcdiately prior to the acquisition,
<br /> 6.Occup�r�cy,I'rese�w�Non,Mt�intenanse And Protection of the ProNerty;Dorrower's Loan Applicr�tion;L,easeholds.
<br /> Bonower shall occupy,establish,and use the Property as Bonower's principal residence within sixty days at�er the execution of
<br /> this Security Instn�ment and shall continue to occupy the Property as Borrowor's principal residence for.at least one year after
<br /> the date of occupancy, unleas l.ender otherwise agras in writing, which consent shall not be unreasonably withhelu+,or unless
<br /> extenuating circumstances exist which are beyond Borr�wer's control. Bc�rrower shall not destroy, damage or impaic the
<br /> Property, allow thc Propaty to detcriorate, or commit waste on the Property. Barrower shall be in default if any forfeitun
<br /> action or procoeding, whether civil or criminal,is begun that in Lender's good feith judgment could r�sult in forfeiture of the
<br /> Property or otherwise materially impair the licn created by this Security Instrument or Lender's security interest. Borrower may
<br /> cure such a default and reinstate,es providod in paragraph 18,by causing the action or proceeding to be dismissr.i with a ruling
<br /> that, in Lendcr's goad faith determinntion, precludes forfciture of the Sorrower's interest in the Property or other material
<br /> imrairmcnt �f!h� lir.n created by this Security T�strum�nt or I..ender's security interest. Borrower shall also be in default if
<br /> Borrower,during the loan application process.gave materially false or inaccurate information or statements[o iendcr ior ;;dic3
<br /> to provide L,ender with any material information)in connection with the loan evidenced by the Note, including,but not limited
<br /> to,representations concerning Borrower's cecupancy of the Property as a principel residence. If this Security Instn�m�ent is on a
<br /> leasehold, Borrower sha11 comply with all the provisions of the lease. If Rortower acquires fee title t� the Property, th�
<br /> leaschold and the fee title shall not merge unless Y.ender agras to the merger in writing.
<br /> 7,ProtecNon ot Lender's RIghW in the Property.If Borrower fails to perfotm the covenants and agreements containai in
<br /> this Security Instrument, or there is a legel proceeding that may signi�cantly affxt Lender's rights in the PropeRy (such as A
<br /> proceodi�g in bankruptcy, probate, for condemnation or forfeiture or to enforco Isws or regulations), then Lender nuy do and
<br /> pay for whatever is necessary to protect the value of the Prop�rty and L,end�r's rights in tho Propercy. Lender's aetions may
<br /> inclade paying nny sums socurcd by a lien which has priority over this Security Instrumer�t, appearing in murt, p�ying
<br /> rtasonable attorneys'fas and entcring on the Property to malcc repairs, Aithough Lender may take action under this parrgraph
<br /> 7,I.ender dnes not have to do so,
<br /> My anwunts disbursed by L.ender uncier this paragraph 7 shall become additional debt of Borrower secured by th�s
<br /> Security Inst�ument. Unless Borrower and Lender agra to other terms of payment, these amounts shall boar interest from the
<br /> date of disbursement at the TVote rate ami shalt be payable, with interest, upon notice fsom Leixler to Borrower roquesting
<br /> payment.
<br /> 8.Mortgage It�surance.If Lender required mongage insurance as a condition of making the loan secured by this Saurity
<br /> Instrument, Borrower shall pay the premiums rcquired to maintain the mort�age insurance in effect. If, for any rtason, the
<br /> mortgage insurance covcrage raquired by I.ender lapses or ceases to be in effxt,Borrower shall pay tho premiums required W
<br /> obtain�overage substantially oquivalent to the mc�rtgage insurance previously in effect, at a cost substantially equivxlent to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If
<br /> substantially equivAlent mortgage insurance coverage is not available. Borrowa�shall pay to I.ender each month a sum r.qual to
<br /> one-twelflh of the yearly mortgage insurancc prcmium being paid by Borrower when the insuranc¢coveragc lepsal or ceasal to
<br /> be in effect. Lender will accept,use nnd retnin these payments as a loss reserve in lieu of mortgage insurar�ce. Loss resem'e
<br /> • Fam 3028 9/90
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