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<br /> 98-- �12'759
<br /> 5. Hanrd or Property insurnnce. Borrower shall kaep tlie impiovements now existing on c�rcaftcr crcctc:d c�n the
<br /> properr.y insured against loss by fire,hazards included within the term "eztended coverage" ancl any other hazards, including
<br /> floods or flooding, for which I.ender requires insurance, This insurance shall Ue maintained in the amounts and for the pericxis
<br /> that l.et�der reyuires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approvul
<br /> which shall not be unrensonably wittiheld. If B�rrower fails to maintain coveruge described :�bove, [.ender mny, at l.e��der's
<br /> option,obtsiin covoragc to prote�:t I..eixler's rights in tlie Property in accordance with paragraph 7.
<br /> All Insuranco pulicies 1nd renewals shall be acceptable to Lender nnd shaU include a standard mortgage clause, L.e�xler
<br /> sliall havc thc right to hold the�licies and renewnls. If Lendcr requires, Borrower shall promptly givc to L,ender all rcccipts of
<br /> paid premiums and renewal notices. In the event of loss,Rorrower shall give prompt notice to tlie insurancc carrier und I.ender.
<br /> L,ender may make proof of'loss if not made promptly by Borrower. .
<br /> Unlesa l.er�er and Borrower otherwise agree in writing, insurance proce�xls shall be applied to restoration or repuir of the
<br /> Property damaged, if tha�restaration or repair is economically feasible and Lender's sec:urity is not Iessened. If the restoration or
<br /> repair is not economically feasible or Lxnder's security would be lessencxi,the insurance proceeds shall be applied to the sums
<br /> securc.d by this Security Instrument, whether or not then due, with uny excess paid ta Borrower. If Borrowcr abandons the
<br /> Property,or does not answer within 30 days n notice from Lender that the insurance carrier has offered to settle u claim. then
<br /> Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by ihis Security Instrument,whether or not then due.The 30-day period will begin when the notice is given.
<br /> Unless I...ender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone tlu duo dnte of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments, If
<br /> undcr paragraph 21 the Property is acquired by I.ender,Borrower's right to any insurance policies and proceeds resulting from
<br /> damage�o llk Property prior to the acquisition shall pass to Lender to the extent of the sums secured by �his Security Instrument
<br /> immedi�tely prior to the acquisition.
<br /> 6_ Occupancy. Preservatlon, Maintenance end ProtecNon of the Property;Borrower's I.aan Appllcation;Leaseholds.
<br /> Borrower shall accupy,establish,and use the Property as Bonower's principal residence within sixty dayF after the execution of
<br /> this Security Instrument and shall continue to occupy the Property as Bonower's principal residence for at least one year after
<br /> the date of acupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonubly withheld,ur unless
<br /> extcnueting circumstances exist which are beyond Barrower's control. Borrower shall not destroy, damage or impair the
<br /> Praperty, allow the Property to deteriorate. or wmmit waste on the Praperty. Borrower shall be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal, is begun that in Lender's goad fuith judgment could result in forfeiture of the
<br /> Property or othcrwise materislly impair the lien created by Ihis Security Instrument or Lender'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 /> rKp;, i;,;..;,�:i� good f»i!r d�!�*m±nA!�on: precludes forfeiture of the Borrower's interest in the Property or other material
<br /> impairment of the lien creatal by this Security Instrument or i.ender's security interest. Borrower shall slso be �n default if
<br /> Hotrower�during the loan epplication process, gave mxterially false ur inaccurate information or statements to Lender(or failed .
<br /> to provide Lender with any material information)in connection with the loan ovidenced by the Note, including, but not limited
<br /> to,represemations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> leasehold. Borrower shall comply with all the provisions of the lease.If Borrower acquires fee title to the Property, the
<br /> leasehold and the fee title shall not merge unlcss l.ender agrees to the merger in writing.
<br /> 7,Protection oi i,cnder's Rights In the Property.If Borrower fails to perform the covenancs and agrcements contained in
<br /> this Saurity Instrument, or there is a legal procxding that may signifirantly affect Lender's rights in the Property (such as a
<br /> proceoding in bankruptcy, probate,Yor condemnution or forfeiture or to enforce Isws or regulations). then Lender may do and
<br /> pay far whatever xs necessary to protect thc value of the Property and Lender's rights in the Property. Lender's actions may
<br /> include pa}•ing any sums secured by a lien which has priotity over this Security Instrument, appearing in court, paying
<br /> reasonableettomeys' fees and entering on the Propeny to make rcpairs. Although Lender may takc action under this paragraph
<br /> 7,Lender do�s not have to do so.
<br /> Any unounts disbursed by Lender under this paragraph 7 shall become additional dcbt of Borrower secured by this
<br /> Saurity Imtrument, Unless Dorrower and I,ender agree to other terms of paymcnt, thesc arnounts shall bear interest from the
<br /> date of disbursement at the Note rete and shall be payable, with interest. upon notice from Lendex to Borrower teq�iesting
<br /> payment.
<br /> 8,Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> Instrument,Borrower shall pay the premiums required to maintnin the moitgage insurance in effect. If, for any reason, the
<br /> mortgage insurance coverage required by Lender lapses or ccases to be in effect,E3orrower shall pay the premiwns required to
<br /> obtaincoverage substantially equivalent to the mortgage insurance previously in cffect, at a cost substantially equivalent to the
<br /> cost to Bortower of the mortgage insurance previously in effect, from an altcrnate mortgage insurer approved by Lender. If
<br /> aubstantially equivalent mortgage insurance coverage is not available.,Aorrower shall pay to Lender each month a sum eyual to
<br /> one-twelfth of the yearly mortgage insuranec premium bein�paid by Bortower when the insuranee coverage lapsed or ceasal to
<br /> be in effect,Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance, Loss reserve
<br /> Form 3028 9l90
<br /> Pepe 3 of Ca
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