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<br /> J�- 112'735
<br /> S. Hsuxrd or Prope�ty Inaun►nce. Borrower shall kecp the improvements now existing or tiereafter crec[ed on thc
<br /> p.coperty insured agalnst loss by fire, hazard� Included within the term "extended coverage" and any other btuarda, including
<br /> iluods or flooding,for which Ltnder requlres Insur�ncc. Thi�insurnnce shall tx maintained in the amounts and for the periods
<br /> that l.ender requires. The insur�nce carrier prov(ding the insurance shall be chasen by Borrower subject to L.ender's approv�l
<br /> whlch shall nat be unreasonably withheld. If Borrower fail�to maintain coverage described above, L.cnder may, �t l.ender's
<br /> optlon,obtal�cover�ge ta protat Lender's right�in the Property in accordance with paragraph 7.
<br /> All insurance poUciea and renewals shall be acceptable to l.ender and shall inelude a standard moctgage clause. I..ender
<br /> shall have the right co hold tl►e policies and renewals, If Lender requires, Bonower shall�romptly give to I..cnder aU reccipts af �
<br /> paid ptemiume and renewal notic�s.In the event of loss,Borrower shall give prompt notice to the insurance carrier and l.ender.
<br /> I.ender may mekC praof of los�iF not made promptly by Borrower.
<br /> Unle�s Lender and Borrower otherwise agree In writing,insurance proceeds ahall be applied to restoration or repair of the
<br /> Property damaged,if the restontion or repair is econamically feasible and Lender's security is not lessened.If the restoration or
<br /> repair is not economtcally feasfbl�or Lender's security would be lessened, the insurance proceeds shafl be applled to�he sums
<br /> secured by this Sccurity Instrument, whether or not thon due, with any excass paid to Borrower. If Bonuwer abandons the
<br /> pro�eny, or daes not answer within 30 days a notice from I.ender that the insurance carricr has offered to settle a claim, then
<br /> L.ender may collect the insurancc procecds. Lender may use the proceeds to repnir or restorc the Propeny or to pay sums
<br /> secured by this Security Instrument,whether or not then duc,Thc 30•day perlod wlll begin when the notice is givcn.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not exe�nd or
<br /> pustponc the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the pnymcnts. If
<br /> ander paragraph 21 the Propeny is acyuired by L.ender,Borrower's right ta any insurance policias and procads resulting from
<br /> damage to the Property prior to the acquisition sfiall pass to Lcnder to tlie extent of the sums sccured by this Sccurity Instn�mcn�
<br /> immediately prior to the acquisition.
<br />- 6.Occupancy,Presen'wtlon,MpintenAnce And Protection of the Property; Borrower'�I.os►n Applicntbe;LeASeholds.
<br /> Borrower shall occupy, establish. and use the Propeny as Bonower's principal residence within sixty days�fter the execution of
<br /> this Security Instrument and shdl continue to occupy the Property as Borrawer's principal residence for at least one year after
<br /> the due of occupu►cy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,or uniess
<br /> eztenuating circumstanas exist which are beyo»d Bottower's control. Borrower shall not destroy, damage or in�pair the
<br /> Property, allow the Propeny 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 materially impair the lien created by this Security Instrunknt or Lender's security interest, Br�rrower may
<br /> - cure such a default and reinst�te, as provided in paragraph 18, by causing the action or proceuling to be dismissod with a ruling
<br /> thet. in L.ender's good faith determinAiion, prGi:lud-cs foifetiuT� af itie 8o:ro:eer's inter�st in rhe Propcny or other materid
<br /> impairn�ent of the licn created by this Security Instrument or Lender's security interest. Bonower shell also be in default if
<br /> Borrower,during the loan appltcation process,gave matertally false or inaccurate information or statement9 to I.ender(or failed
<br /> to provide I..ender with any rn�terial information)in connection with the loan evidenced by the Note, including,but not limited
<br /> to, reptesentetians concerning Bonower's occups+ncy of the Property as a principal residence. If this Security Instnsment is on a
<br /> leasehold, Bonower shall aomply with all the provisions of the lease. If Borrower acyuires fee title to thc Propercy, the
<br /> leasehold and the fa titic shall not merge unless I.ender agrees to the merger in writiag.
<br /> �,protect(on o[I.ende�'s Rights iu the Property.If Borrower fails to�erform the covenants and agreements contained in
<br /> thia Security Instrucnent,or �here is a legal proceaiing that may significantly affect L.ender's rights in the Property(such as a
<br /> proceoding in bxnkn►ptcy,pmbate, for condemnation or forfeiture ar to enforce laws or regulations),then[.ender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Propeny. Lcnder's xtions may
<br /> include p�ying any sums sauetd by a lien which has priority over this Security Instrument, a�pearing in court, paying
<br /> reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this puagraph
<br /> 7, Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall bocome additional debt of Borrower secured by this
<br /> Secudty Instrument. Unless Bonower and Lender agrce to other tcrms of paymont, thesc amounts shall bear interest from th�
<br /> datc of disbursement at the Note rato and shall be payabls. with interest, upon notice from I.�nder to Borrower requeating
<br /> payment.
<br /> S� Mortg�ge Ingur�nce,If Le�nder requirad moctgage tnsurance as a condition of malcing the loan secured by this Security
<br /> Instrument, Borrow�r shall pzy the premiums required to maintain the mortgage insurance in effxt, If, for any reason, the
<br /> mortgage insurance coverage r�quirtd by Lcnder lapses or ceases to be in effxt, Bonower shall pay the premiums requirod to
<br /> obtain coverage substai�ti�lly equivalent to the mortgage insurance previously in effect,at a wst substantially equivalent to the
<br /> cost to Borrower of the moagage insurance previously in effect, from an alternate nwrtgage insurer approva! by l.end�r.If
<br /> substaz►tiaUy equivalent morgage insurance coverage is not available,Bonower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Bonower when the ins�rana coverage lapsed or ceased to
<br /> � be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mongnge insurance. Loss reserve
<br /> Form 3028 9190
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