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<br /> - 98- 112'732
<br /> ' S. HAZwrd or PrR{xrty Insurwnce. Borrower shall keep thc improventents naw exisiing or hereafter crectcd on the
<br /> Property insured against loss by firc, hazards incliidcd within the tcrm "extended covcragc"and any other ha7ards, including
<br /> floais or flooding, for which Lender requires insurance.This insurance shall be maintained in the amaunts and for chc periods
<br /> that Lender eequires. The, insurance carrier providing the insurance shall be chosen by Borrower subject to l.,ender's approval
<br /> which shall not be unrcasonably withheld. lf Borruwer fails [o maintain covcrage described abovc, l.cnder inay, at Lender's
<br /> option,obtain coverage to protect l,ender's rights in the Propeny in accordance with paragraph 7.
<br /> All insurance policies and renewals shall be acceptable to I.�:nder and shall include a siandard mongage clause. L.ender
<br /> shall havc the right to hold the policies and renewals. If L,tnder rcquires, Borrower shall promptly givc to I.cnder all reccipts of _
<br /> paid premiums and renewal notices, In the cvcnt of loss,Borrowu shall give prompt notice to the insurancc carricr and Lcndcr.
<br /> L.ender may make proof of loss if not made promptly by Borrower. ,
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the
<br /> Property damaged, if the restaration or repair is economically feasible and L.ender's sceurity is not Icssencd. If the restoration or
<br /> repatr is not economically feasible or I.ender's security would be lessened, the insurance proceeds shall be applied to the sums
<br /> secured by tbis Security Inslrument, whethcr or not thcn due, with any excess paid to Barrower. if Aorrower abandons the
<br /> Propeny, or dces not answcr within 30 days a notice from Lender tha�the insurancc carrier has offcred to settic a claim, then
<br /> I..ender may collect the insurance proceeds. l.ender may use the prceeeds to repair or restore the Property or ta pay sums
<br /> secured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly paymcnts referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender, Uorrower's right to any insurance policies and proceeds resulting fram
<br /> damage to the Propeny prior to the acquisition shall pass co Lender to the exlent of tlie sunis secured by this Security Instrumcnt
<br /> immediately prior to the acquisition.
<br /> 6. Occupt+ncy, Preservation,Matntenance and Protectlon o[the Property; Boreower's LoAn AppUcntiou; L,easeholds.
<br /> Borrower sl�all occupy,estublish,and use the Property as Borrower's principal residence within sixty daya after the execution of
<br /> this Securiry Instn►ment and shall continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> the date of occupancy, unless l.ender otherwise agrees in writing,which consent shall not be unreasonably withheld, or unless
<br /> eztenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Propecty, allow the Property to deteriorate, or commit waste on the Ptopeny. Borrower shall be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal, is begun that in L,endcr's goc>d faith judgment could result in forfeiturc of the
<br /> Propeny or othenvise materially impair the lien created by this Security Instrumenc or I.ender's security interest. Borrower may
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling
<br /> that, in l.ender's good Iaitn determination, prcciudcs f'vi:iiur af.h.c Eo.rc�cr's i�te:sss;n :!:^. P:o;c�; �r ^!h�* s".ace►ial
<br /> impainnent of the lien created by this Security Instrument or Lender's security interest. Borcower shal! also be in default if
<br /> Bonawer,during the loan application process, gave materially false or inaccurate information or statements to Lender(or failed
<br /> to provide Lender witli any material information)in connection with the loan evidenced by the Note, including,but not limited
<br /> to, representations conceming Borrower's occupancy of the Propeny as a principal residence.If this Security Instrument is on a
<br /> leasehold, Borrower shall comply with all [he provisions of the lease. If Borrowcr acquires fee title to the Propeny, [he
<br /> leasehold and the fee title shaU not merge unless l.ender agrees to the mergcr in writing.
<br /> 7.Protection of Lender's Rights in the Property.If Borrower fails to perform the covenants and aAreements contained in
<br /> this Security Instrument, or there is a legal procceding that may signifiaantly affect Lender's rights in the Propeny (such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfe,iture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatcver is necessary ta protect the value of the Praperty and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums secured by a lien which haz priority over this Security Instrument, appearing in court, paying
<br /> re.asonable attomeys' fces and entering on chc Property to make repairs. Aithough i.ender rnay take action under this paragraph
<br /> 7,l.endec does not have to do so.
<br /> Any a�rwunts disbutsed by Lend�r undcr this paragraph 7 shall become additional debt of Bonowcr secur�d by this
<br /> Security [nstrument. Unless Borrowcr and Lender agrce to othcr terms of payment,these amounts shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon noticc from Lendcr to Bonower requesting
<br /> payment.
<br /> S.Mortgwge Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> Instrument, Borrower shall pay the premiums rcquircd to maintain the mortgagc insurance in effect. If, for any reason, the
<br /> mortgage insurance cuverage required by Lendcr lapses ar ceases to be in effcct, Borrower shall pay the premiums required to
<br /> obtain coverage substantially equivalent to the mortgage insurancc previously in effect, at a cost substantially equlvalent to the
<br /> cost to Borrower of thc mongage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not available,Borrower shall pay to Lender each mo�ith a sum eqeal tn
<br /> onc-twelfth of the yeariy mortgagc insurancc prc.mium bcing paid�y Bonower whcn the insurance coverage lapsed or ceased to
<br /> be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss rescrve
<br /> Form 3028 9190
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