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<br /> S, HAxard nr Pmperty In.surwnce. Horrowcr shall kcep the improvements now csisti tc crcct�d on thc
<br /> Nraperty insured against lass by fire, ha•ra►rds included within the term "extended covcragc" and uny othcr IrA7.ards,includin6
<br /> flocxls or flaxling, for which Leoder reyuires insuranca This insurince shaU he mlimained in the nmounts and for ihe periods
<br /> that L�:nder rcquires. Tlie insurnnce carricr providin� the insurance shall Me chosen hy Borrower subject to Lcndcr's�►pprovAl
<br /> which shall not be unreasonably wlthheld. if Borrower fails to mnintain coverage described above, L.e�ider may. a�I_ender's
<br /> option,obtain coverage to protcct I,ender's rights in the Property in accordence with paragraph 7.
<br /> All insurance policies und renewals shall be acceptablG to L.endcr and shall include a standard mortgagc clausc. I.endcr
<br /> shall have the right to haldthe palicies and renewal�. If C,ender requires,Anrrower shall promptiy give to l.ender allreceipts of
<br /> paid premiums and renewal notices.In the eveni of loss,I3orrower shall give prompt notice to the insuranc�carrier and Lcnder. i
<br /> Lender muy nwke psoof nf loss if not made promptly by Borrower.
<br /> Unless L.endc� and Borrower�therwisc agree in writing, insurance proceeds shall be upplicd to restoration or rcpair of the
<br /> Aroperty damaged, if the restoration ur repair is economically feASible and I.ender's security is not Iessened.If the resioration or
<br /> repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrowcr. If Borrower a6andons thc
<br /> Property, or does not answer within 30 days a notice from Lender thnt the insurance carrier has offered to settle a claim, then
<br /> I..ender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Propeny or to pay sums
<br /> secured by this Security Instrument,whether or not then due. The 30-day perioci will begin when the notice is given,
<br /> Unless lxnder and Sorrower otherwise agree in writing, any application of proceecis to principal shall na ext�nd or
<br /> postpone the duc date of the monthly payments referred to in paragrapbs 1 and 2 or change the amount of the payrnents. If
<br /> under paragraph 21 the Property is acquired by I,ender, Borrower's right to any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to L.ender to the extent of thc sums secured by this Securitylnstcument
<br /> immediately prior to the ncquisition.
<br /> 6, pccup�ncy,Preservatlon,MAinteruince and Protection of the Propecty;Borrower's LoAn Appllcatlon;Lea.�eholdv.
<br /> &irrower shall cecupy,establish, and use the Property as Borrower's principal residence within sixty dnys ufter the execution of
<br /> this Security Instrument and shall continue to occupy the P�operty as Borrower's principal residence for at least a�e year after
<br /> the date of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreasona6ly withtield� or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or Irnpair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Property. Aortower shal! be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal,is begun that in I.ender's good faith judgmenc could result in forfeitutt of the
<br /> Property or ntherwise ma�erially impair the lien created by this Security Instrument or I.ender's security interest. Eorcower may
<br /> cure such a defuult and reinstate, as provided in paragraph 18,by causing the action or proceuling to be Jismissod wlth a ruling
<br /> that, in Lender's goad f�ith determination, precludes forfciture of the Borrawer's intorest in the Property or dher muteriwl
<br /> impairn�ent of the lien created 'by this Sauriiy I��stiarwni o:• Lc���r's°�..^��r4c; ir.t�rPC�. Borrowcr shall alsu be in default if
<br /> Borrower,during the loan applicntion process. gave materially false or inaccurate information or statements to Lerder (or failed
<br /> to provide Lender with any material information)in connection with the loan evidenceci by the Note, including, but t�ut limited
<br /> to,representations conceming Bonower's occupancy of the Property as a principal residence.If this Security Instrument is on a
<br /> leasehold, Borcower shall comply with all the provisions of the lease. If Borrowor acquires fee title to the Property, the
<br /> leasehold and the fee title shall not merge unless Lender°IfrBorro er fail�to'n rfo,rm he covenants anJ agrcements conteined in
<br /> 7,protection of T.ender's RJghk9 in the Property� Pe
<br /> this Sacurity Instrument,or there is a legal proceeding that may significantly affect Lender's rights in thc Propeey (such es a
<br /> procading in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regutations),then Lendermay do and
<br /> pay for whatever is necessary to protect the value of the Property and 1-ender's rights in the Property. Lender's actions may
<br /> include paying uny sums s�:ured by a lien which has pxiority over this Security Instrument, appearing in roatt� paying
<br /> reawnable attomeys'fea and entering on the Property to make repairs.Although(.ender may take action under this paragraph
<br /> 7,Le�xler dces not have to do so.
<br /> Any amounts disbursed by Lender under this paragrapit 7 shall bccone additionul deht of Borrower saured by this
<br /> Security Instrument. Unless Borrower and Lender agree to other terms of payment, the.se amounts shall bear intarast fram the
<br /> dute of disburscment at the Note rate and shall be payable, wich inte��est, upon notice from Lender to Borrow��r requesting
<br /> payment. �
<br /> S. Mortgage Insurnnce.If ixnder required mortgage insurance as a condition of making the loan secured by tt-iis Security
<br /> Instrument, Borrower shall pay the premiums required to maintain the mortgage insurnnce in effect. If, for any reason, the
<br /> morigage insumnce coverage required by Lender lapses or ceases to be in effect, 9onower shall pay the premiums required to
<br /> o6tain covernge substamtially equivalent to the mongage insurance previously in effect,at a cost substantially equivalent to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not nvaila6le, Borrower shull pay to Lender each montt�o sum equal to
<br /> one-twelfth of thc yearly mortgage insurance premium being paid by Borrower when thc insurance coverage lapsed or ceased to
<br /> be in effect. I,ender will accept,use and retain these payments as a loss reserve in iieu of mortguge insurance.Loss reserve
<br /> Farts 3028 9190
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