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<br /> 98- isz�7o�
<br /> 5. HRZard or I'roperty Insurancc. Dorrowcr shall kcep thc improvcmcnts now existing on c�rcaRcr crected on the
<br /> Pmperty insurecl ugainst loss by fire, hazards includeci within the tcrm "extended coverage" und any cther hazards, including
<br /> floods or floading, for which Lender require5 insurunce,This insurance shall bc muintained in thc umounts und for the periods
<br /> that L.ender r�quires. The insuranee currier providing tlie insurance tihull be chosen b,y F3orrower subject to I..ender's npproval
<br /> which shall not be unreasonably withheld, If Borrower fuils to maintuin covcrage dcscribed utxrvc, l.ender may, nt Lender's
<br /> option,obtain cuvcragc to protcct I.cndcr's rights in thc Property in uccordancc with pnrngraph 7.
<br /> All insurunce�licie� and rencwals shull be acceptablc to l.cndcr and shull include a stanJurc! mortguge rinuse. Lcnder
<br /> shall have the right to hold the�licies and renr,wals. If Lender requires,Borrower shall promptly give to I.ender all rcceipts of
<br /> paid prtmiums and renewal notices.ln the event of loss,Borrower slisll give prompt nntfce to tho insurance carricr and l.ender.
<br /> L,ender mny muke proaf of loss if not mude promptly by Iiorrawcr.
<br /> Unless L.ender und Borrawer otherwise agrce In writing,insurance praceeds shall be uppli�d to restoration or repair of the
<br /> Praperty damaged,if the restoratian or repair is ec�nomically fcasible and L.cnder's security is not lessened.If ths restoration or
<br /> repair i.^, not�conamically feasible ar l.ender's securiq� would be lessened, the insurance proceeds shall be npplied to the sums
<br /> secured by this Security InFtrument, whether or not then due, with any excess paid to Borrower. If t3orrower abandons the
<br /> Property, or das not answer within 30 days u notice from I..cnder that the insurnncc carrier has offered to settle a claim, then
<br /> I..ender may collect the insurance proceeds. I,ender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Security Instrument,whether or not then due. The 30-dny period will begin when the notice is given.
<br /> Unless i.ender and IIarrower otherwise agree in writing, any application of proce.eds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 2l the Property is acquired by Lendcr, Borrower's right to any insurance policies and prceee,�is resulting from
<br /> damage to the Property prior to the acquisition shall pass to I..ender to the extent of the sums secured by this Security Instrument
<br /> immediatcly prior to the acquisition.
<br /> 6.O��cupa�Ky,I'reservation,MsEnten�nce and I'roteetion of the Property;Aorrower'F I.oAn AppBcation;LeASeholds.
<br /> Borrower shall occupy,establish, and use the Property as Borrower's principnl residence within sixty duys after the execution of
<br /> this Security lnstrument and shall continue to occupy the Property as Borrower's principal residence for at least one year aRer
<br /> the date of occupancy,unle��L.ender otherwise agrees in writing, which conseiit shnll not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borcower's control. Borrower shall not destroy, damage or impair the
<br /> Property, allow the Property to deteriorate, 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 I.ender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise matcrially impair the lien creatal by this Security Instrument or Lender's security interest. Iiorrower may
<br /> cure such a default and reinstate,as j�rovided in paragraph 18,by causing the action or proceaiing to be dismissed with a ruling
<br /> that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in thc Property or other materisl
<br /> impairment of the lien r.reated by this Security Instrument or L.ender's security interest. Borrower shaU also be in default if
<br /> Borrower,dmine the loan epQlication process,gave materially false or innccurate information or statements to I.tinder(or failed
<br /> to provide Lender with any material inforn�ation) in connxtion with the loan ovidencai by the Note. including,but not limited
<br /> to,representations concerning Borrower's occupancy of the Property as a principal rrsidence.If this Security InstrumGnt is on a
<br /> leasehold, Borrower shall comply with ull the provisions of the lease. If Borrower acquires fa title t� the Property, the
<br /> leasehold and thc fee title shall not merge unless L.ender egrecs to the merger in writing.
<br /> 7. ProtecNon of I.ender's Righta in the Property.If k3orrower fails to perform the covenants and agreements contained in
<br /> this Security Instn►ment, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a
<br /> proceoding in bankniptcy, probate, for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and I.ender's rights in the Property. Lender's actions may
<br /> include paying any sums securod by a lien which l�as priority ovcr this Security Instntment, appearing in court, paying
<br /> reasonable attomeys' fecs und entcring on tlie Property to make repairs. Although L,ender may take action under this paragraph
<br /> 7,L.ender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrawer securod by this
<br /> Security Instrument. Unless Borrower and L�ender ngree to other terms of payment, these amounts shall bear interest from the
<br /> date of disbursement at the Nute rate and shall be payable, with interest, upon notice from l,cndcr to Borrower rcquesting
<br /> payment.
<br /> 8. Mortgage Insurance. If L,ender required mortgAge insurance as a condition of making the loan secured by this Security
<br /> Instn�mcnt, Borcower shall pay the premiums rcquirr.d to mnintain the mortbage insurance in effect, If, for any reASOn, the _
<br /> mortgage insurunce coverage rcquircd by Lender lapses or ceases to be in effect, Borrower shall pay the premiums reyuirod 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 mongagc insurance previously in effect, from an alternate mortgage insurer approved by L.ender, If
<br /> substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to C.ender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect. Lender will accept,use and retain these payments as a loss reserve in licu of mortgage insurance. Loss reserve
<br /> Form 3028 9f90
<br /> P�3oie
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