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<br /> 98-- 112�26
<br /> ' s, }{a�rd or Propciiy Ituur�nce, Horrower sh�ll krcp the Improvemente now existing or hereafter arated on the
<br /> praperty Insurcd �gainst loa�by flre, hazacds included wilhin the term "eatended coverage" and any other huards, including
<br /> floacls or 1looding, for wi:ich I.nnder rcqulres Insuru►c�. Thia insurAn�;e shall be maintainal in the amounts anJ for the pesiods
<br /> th�t L.ender rsquircs. The insur�►nce canler provlding the insurance shall be chosen by Bonower subjecc to Lender's approval
<br /> which sh�ll not be unreasonAbly withheld. If 9orrower faiis to malntain coverage descritxd above, l.ender may, at Lender's
<br /> option,obt�in coverage to pratect Lender's rigbts in the Property in accordance wi�h paragraph 7.
<br /> All insur�nce �solicles and renewale sh�ll be acceptxble to Lender and shall include a s[andard mongage clause. L.ender
<br /> sl��ill have the right to hold the policir.�and renewals. If Lender requires,Borrower shall promptly give to L.ender all receipts of �
<br /> p�ld premlurta and renewal noticee,In the event of loss,Borrc�wer shall give prompt nocice to the insurance carri�r ancl Lender.
<br /> Lcnder may m�ke proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Bonowcr othcrwisc Agrec in writing, insurance proceeds shall be applied to restoration or repair of the
<br /> property danugod,if the restoration or repair is economically feasible and Lender's security is not lessened. If the rcstoration or
<br /> repair is not econorhieally feasible ar Lender'9 securlty would be lessenc�d, the insurance proceeds ahall be applied to the sums
<br /> secured by this Security Instrument, whether or nut then due, with any excess paid to Bonower. If Horrower abandons the
<br /> property,ur does not answer within 30 days a notia from L.ender that the insurance carrier has offered to settle a claim, then
<br /> Lender may collect the insurancc prceads. Lende: may use the procads to repair or restorc the Property or to pay �ums
<br /> secund by this Security Instrument,whether or not then due.The 30-day periai will begin when the not:a is given.
<br /> Unless I.�nder and Borrower otherwise agra in writing, any applicatlon of proceeds to principal shall not extend or
<br /> postpone ttte due dats of the monthly payments referred to in pazagraphs 1 and 2 or change the amount of the payments. If
<br /> under puagr�ph 21 the Property is acqulred by I.ender, Borrower's right to any insurance policies and procerds resulting from
<br /> damage to[he Property prior to the acqufsition shall pass to Lender ta the extent of ihe sums secured by this Security [nstrument _
<br /> immediately prior to the acqu[sitlon.
<br /> 6. Occupwncy� Pres�n'wtion,MslMenpnce wnd Piv►tecNon oi the Property;Borrower's Loan ApFltcatlon;Lm.geholds.
<br /> Borrower shall or,cupy,establish,ond use the Propeny as Bonower's principal residence within sixty days afte�•the executton of
<br /> this Security Instniment and shall c;ontinae to occupy the Property as Borrower's prineipal residence for Rt le�st one year after
<br /> tho date of occupancy,unless L.ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstanas eaist which are beyond Borr�wer's control. Iiorrower shall not destroy, damage or impair the
<br /> Propeny, allow the Properry to deteriorate, or commit wavte on thc Property. Bocrower shall be in default if any forfeitun
<br /> action or proceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result ln forfeiture of the
<br /> Property or othenvise maced�lly impair the lien creatal by this Securiry Instrument or Lender's security int�rat.Bocrower may
<br /> cure such a default aad reinstate,as provided in paragraph 18,by causing the action or proceediag to be dismissed with a ruling
<br /> ;nui, ,,, f.�r,da:'s gc;,d f:.i�h �c;srmin:tiQn. prk'1�!dr__c f�rfei�ure of the Borrower's int�rest in the Property or other material
<br /> imp�irnxnt of the lien cratod by this Securiry Instrument or Lender's security interest. Borrower shall also be in default if
<br /> Borrower. during the loan applicatiun process,gave mater[ally false or inoccurate information or statements to L.ender(or failed
<br /> to pmvide Lender with any material informatlon)in connecti�n with the loan evidencod by the Note,including.but not limited
<br /> to, represenutions concerninq Borrower's occupancy of the Property as a principal residena. If this Sccurity Instrument is on a
<br /> Icasehold. Borrowor shall comply with all the provisions of the lease. If Borrower acquires fee tlde to the Property, the
<br /> leasehold and the fa title shap not merge unless I.ender agxas to the merger in writing.
<br /> 7.Yrotection oi L�t�der's Rl;bRs(n the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> this Security Instrument, or there is a lega! proceoding that may significantly affxt Lender's dghts in the Pcoperty (such t�s a
<br /> proceoding in bACilcruptcy.probate, for condemnation or forfeiture or to enforce l�ws or ngulations),then Lender may do u►d
<br /> pay for wh�tever is necessuy ro�rotect the valuc of the Pcoperty and Lender's rights in the Property. Lender's acdons may
<br /> include paying anY sums secured by a lien which ha� priority over this Security Instnrment, appouing in court, pAying
<br /> reasonable utomeys'fas and entering on the Property ro inake repairs.Although[.ender may take action under thys paragraph
<br /> 7, Lender das not have to do so.
<br /> Any amounts disbursai by Lender under this paragraph 7 shall bocome addltional debt of Borcower secured by this
<br /> Secudty Instnunent. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest frum the
<br /> date of disbursement at the Note rate and shall be payable, wich intenst, upon noticG from Lender to Borrower requesting
<br /> payment.
<br /> S.Mortgage In4urance. If Lender required mortgagc insu:ance as a conditlon of making the luan sxurod by this Security
<br /> Instrument,Borrower shall pay the premiums required co maintain the mortgage incurance in effect. If, for any reason, tht
<br /> mortgage insurance coverage nquired by L.ender lapses or aases to be in effect,Borrower shall pay the premiums requirai to
<br /> � obtain coverage substantially equivalent to the mongage insurance previously in effat, at a cost substantiaUy equivalent to the
<br /> cost to Bocrower of the n�ortgage insurance preWiously in effect, from an alternate mortgage insurer approved by Lender, lf
<br /> suUstantially equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum�qual to
<br /> one-twelfth of the yearly mortAage insurance premium being paid by Borrower wh�n the insurance coverage lapsed or ceasai to
<br /> — be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mongage znsurance. [ass rese�ve
<br /> ! Form 3028 �/�
<br /> � �•6RINE)io2�s�.o� v�p�3 oi s in�uw•�����/"/SC
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