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<br /> S. Hp�rd or Property InsurAnce. k3orrowcr shall kcep thc improvements now exisliug i�n c�rcaftcr erccted on the
<br /> Property insurod against loss by firc, hazurds included within thc tcrm "extended covcragc" und �ny nthcr ha•r.ards,incluJing
<br /> flcxxts or floocling, for which L.cncicr rcquires insurancc. This insurancc shall bc mnintaincd in ihc amounts und for thc pericxls
<br /> thnt Lcrxicr requires. The insurnnce carricr providing thc in�urancc shall hc choxcn by Rorr�wcr suhjcct lo Lendcr's upprovul
<br /> which shnll not bc unrcasanubly withhcld. If Aorrowcr f'uils to muintuin covcragc dcscrlbcd afxivc, L.endcr mny, ot C.cndcr's
<br /> option,�►btain coveragc to protect Lcndcr's rights in tha Property in ucwrdancc with pnrugruph 7.
<br /> Afl inxurance policics and renew,ds shall be acceptable to Lender mxl shall include u standard mqitgi�ge clause. l.ender
<br /> shall have the right to hold thc palicies and rencw:�ls. If Lender requires, r3ormwer shall promptly give to Lendcr ull reccipts of
<br /> p�id premiums and rcnewal notices. In the event af lass, Barrower shnll give prampt notice trx the insurancc carrier and l..ender.
<br /> Leruler may make proof of lo�s if not medc promptly by Borrawer.
<br /> Unless Lcndcr And Borrowcr otherwisc agrce in writing, insurnnce procccds shall t�c appliai to restoration or repais of thc
<br /> Property damagecl, if the restoration or repair is eeonomically feasible und lxnder's securiry is not Iessened. If the restoration or
<br /> repair is not economically feasiblc or Lendcr's security woidd be Iesscned,thc insurancc procccds shall be applial tu the sums
<br /> sccurcd by this Security Instrument, whether or not then due, with Any exccss paid to Borrowcr. If Borrower abandons the
<br /> Property,or da:s not�nswer within 30 days a notice from l.ender that the insurance carrier has affered to settle u clairn,then
<br /> Lender may collect the insurance proceeds. Lender muy use the proceeds to repair or restore the Property ar to pay sums
<br /> secured by this Security Instrument,whethcr or not then due.Thc 30-day periocl will begin when tlie notice is give.n.
<br /> Unless Lender und IIorrower otherwisc agree in writing, any application of procceds to principal shall not extend or
<br /> postpone the due date of the monthly payments refcrrcd to in parngraphs I and 2 or change thc amount of the payments, If
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to any insuranco policies and procads resulting from
<br /> damage to the Property prior to the ucquisition shall pass to Lcnder to the extent of the sums secured by this Security instrument
<br /> imiuediately prior tu tlie acquisition. .
<br /> 6. Occupancy�Preservation, Maintenence and Protectlon of ti�e Property; Borrower's I.onn Application;Leaselalds.
<br />' Borrawcr shall a;cupy,establish, and usc the Property as Borrower's principal residenr,e within sixty days after thc execution of
<br /> this Security Instrument and shall continue to occupy the Praperty as Borrower's principal residence for at least one year after
<br /> the date of occupancy, unless Lender otherwise agrces in writing, which consent shall not be unreasonably withheld,or unless
<br /> extenuating circumstances exist which are beyund Borrower's control. Horrower shall not destroy. damage or impair the
<br /> Property, allow thc Property to dcteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment cauld result in forfeiture of the
<br /> Property or otherwise materially impair the lien created by this Security Instn�ment or I.endcr's sccurity interest. Borrower may
<br /> cure such a default and reinstate, as provided in paragraph 18, by causing the action ar proceeding to be dismissed with a ruling
<br /> that, in L,ender's good faith determination, prccludes forfeiture of the Borrower's interest in the Property or other material
<br />, imp;.i�:�.c�„ af.h;, �:crs cr:a,�3�y this �:;.u�iiy .nsirair�er�i o� Lerwe,'s ici:Uiity liiicicsi. I3u�iuwc� ,i�:�it dls� L'c i�l�ciaLli ;f
<br /> Borrower,during the loan application process,gave materially false or inaccurate information or statements to I.,ender(or failed
<br /> ta pcovide L.ender with any mnterial information)in com�ection with the loan evidenced by the Note,including,but not limited
<br /> to, rcpresentations concerning Borrower's occupuncy of the P►•openy as a principal residence. If this Security Instrument is on a
<br /> leasehold, Borrower shall comply with all the provisions of tlie lease. if Borrower acquires fee title to the Property, the
<br /> leaschold and the fce title shull not merge unless Lender agrees to thc mcrger in writing.
<br /> 7. Protection of Lender's Rights in the Property.Tf Borrower fails to perform the covenunts and aEreements contained in
<br /> this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a
<br />. proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), ttien I.ender n�ay do ar�d
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums securcd by a lien which I�as priority over tliis Security lnstrument, appearing in court, paying
<br /> reasonable attorneys'fecs and entering on the Property to make repairs.Although Lender may take action under this paragruph
<br /> 7, Lcnder doc.t not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower secured by this
<br /> Security Instrument. Unlcss Borrower and Lender ugrce to othcr tcrms of paymcnt, thcsc amounts shall bear int�rest from the
<br /> date of disburscmcnt at thc Notc rate and shall be payable, with interest, upon notice fro�n Lcnder to Borrower requesting
<br /> payment. .
<br /> 8. 111urtgage Insurance. If L.ender required mortgagc insurance as a�ondition of making the loan securcd by this Security
<br /> Instrument, Borrowcr shall pay the premiums required to maintain thc mortgage insurance in effect. If, for any reason, the
<br /> mortg�►ge insurance coveragc reyuireti by Lcnder lapses or ccascs to t�c in cffect,Borrowcr shall pay thc premiums required to
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the
<br /> cost to Borrower of the mortgagc insurance previously in effcct, from an alternate mortgage insurer approved by Lcnder. If
<br /> substantially equivllent mortgage insurancc coverage is not availablc, Borrower shall pay to L,ender cach montli a sum equal to
<br /> one-twelfth of the yearly mortgagc insurance premium bcing paid by Borrower when the insurance coverage lapsed or ceased to
<br /> Uc in cffcct. Lcndcr will acccpt,usc and retnin thcsc payments ais a loss rescrve in lieu of mongage insu�ance. Loss reserve
<br /> Form 3028 9l90
<br /> Pepe 3 of 0
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