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<br />��� 98— at l�oo�
<br />,=:'i�� S. Hwznrd or Praparty InaurAnce� 8orrowor shall keep the improvemcnts now existing or hereafter erccted on thc
<br />.��Ey Acoperty insurcd against loas by fire, hazuds included withln the term 'extendect coverage" and any other hazards, including
<br />== floods or flnoding, for which I.onder requlres insurance. This insurance shdll be maintaincd in the amounts and for thc periods
<br />:;r;;aR:� that I..ender requires, The insurance carrier providing the insuranc� shall be chosen by Borrower subjcct to L,ender's appraval
<br />-:.;;;r;' which shall not bc unreasonably withhcld. if Borrower fails to maintain covcragc describcd abovc, Lendcr may, at I.cndcr's
<br /> - ``' option,obtaln coverage to protect Lender's rights in the Propeny in accordance with paragraph 7.
<br /> -'�`'�"` All insurance policies and renewals shall be acaptable to Lender and shali include a standard rrbngage cluuse. Lender
<br /> .�'�.�`Y� • shall hevc the right to hold thc policies and renewais. If Lcnder reqaires, Borrower shall prompNy give ro L,cnder aU reccipts of
<br /> __,_:;'�;� paid premiums and renewal notices. In the event of toss, Horcower shall give prompt nouce to tl�e insurance carrirr and I...ender. F
<br /> '� l.cndcr may makc proof of loas if nat made promptly by Iiorcower.
<br /> _�-�����, Unlesa Lender and Borrower othenvise agra in writing, insurance praceeds shall be applicd to resto:ation or repair of thc
<br /> ��. Propercy damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoratlon or
<br /> -� ='a - repair is not economically feasible or Lender's saurity woutd be lessened. the insurance proceeds shall be applied to the sums
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<br /> ;�,:� secured by this Security Instrument, whether or not then due, with any excess paiJ to Borrower. If Borrower abzndans the
<br />_'��li�F` " Property,or does not answer within 30 days a notice from l.ender that the insuranc:e carrier has offered to scttl¢a claim, then
<br />�v"� Lender may wllect the insurance proceeds. L.ender may use the prceeeds to repair or restore the Property or [o pay sums
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<br /> =".-�I�� secured by this Security Instrument,whether or not then due.The 30-day period will begin when the nodce ie give►i.
<br />:-`T:-;�;�s Unless [.ender and Aonower otherwise agree in writing, any application of proceeds to principal ehall not extend or
<br />'�'�� postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the a�nount of the payments, if
<br /> —� under paragraph 21 the Property is acquirai by I,ender, Borrower's right to any Insurance policies And proceeds resulting from
<br /> J��=��� dacnage to the Property prior to che acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> --- im:nediately prtor to the acquisition.
<br /> m-�_� 6.Occupwncy,Preservotion,Mpintenanceand Protxtion of the Property; Borrower's L.oan Application; L�a.geholds.
<br />..;__a;,� Dorrower shall occupy,establish,and use the Property as Borrower's principal r�sidence within sixry days after the execution of
<br /> -- thia Security Instrument and shall continue to occupy the Property as Borrower's principal resldence for at least one year after
<br />;�_p.�:;� the date of occupancy. unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> - extenuating circumstances exist which are beyond Borrower's control. Borrow�r shall not destroy, damage or impair the
<br />- � Property, allow the Property to deteriorate, ar commit weste nn the Property. Borrower shall bc in default if any forfeitun
<br /> =,�.;�� action or procading, whether civil or criminal,is begun that in Lender's guod faith judgment could result in forfeiture of the
<br />_���;�-�� Property or otherwise materially impair the lien created by this 5ecurity Instcument or Lender's security interest.Borrower may
<br /> �—h __
<br />-== —� cure such a default and reinatate,as provided in paragraph 18,by causing the action or pTOCealing ta be dismisxd with a ruling
<br />-==-A�� chat. in Lender's Qood faith determination, praludes forfeiture af the Borrower's inter�st in the Property or other material
<br /> - - - impairment of the lien created by this Seeurity Instruaient or Lend�r's security inter�st. ttonower sh�Ii also oc in ucfuvii i[
<br /> ��_- _ Borrower,during the loan application proctss, g�ve rnaterially false or inaccurate information or statements to I.ender(or failed
<br /> - to provide Lender with any material information)in connection with the loan evidenced by the Note, including,but not limited
<br />�--"°�'°— to, r�presentations concerning Bonower's occupancy of the Property as a principal residence.If this Security Instrument is on a
<br /> __.� leasehold, Bonower shall comply with all the provisions of the lease. If. T3onower acquires fee tltle to the Propeny, the
<br /> leasehold and the fx title shall not merge unless Lender agrees to the mergcr in writing.
<br /> 7.Protection o[I.ender's Righta in the Property. If Borrower fails to perform the covenants and agreements wntained in
<br /> � this Security Instcu�nent,or then is a legal proaading that may significantly aff�et Lender's rights in the Property(such as a
<br /> --- procoeding in bankruptcy, probate, for condemnation or forfeitun or to en�'one Iawa or regulations),tben Lender may do and
<br /> pay for whatever i� necessary to protcet the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums secured by a lien which has pr�ority over this Security Instrument, appearing in a:ourt, paying
<br /> roasonable attorneys' fas and entcring on the Property to make repairs.Although Lender may take action under this paragraph
<br /> 7. i.cnder das not have to do so.
<br /> Any a�nounts disbursed by L,ender under tnis paragraph 7 shall become addition�l debt of Banowcr securcd by this
<br /> Security Instrument. Unless IIorrower and Lender agrce to other terms of payment, these amounts shall bear intcrest from the
<br /> ------ date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lcnder to Borrower requesting
<br /> _--_-- payment.
<br />- S.Mortgage Insurance. If I..ender required mongage insurance as a condition of making the loan�ecured by this Security
<br />--�-=_=� Instrument, Bonower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any rcason, the
<br /> ---- mortgagc insurance coverage reyuired by Le:ndcr lapscs or ceases to be in effcet, Borrower shall pay the premiums required to
<br /> .��r,� obtain coverage substantially equtvalent to the mortgage insurance previously in effxt, at a cost substantially equivalent to the
<br /> -.'.�:.....-.'x'"�.� cost to Borrower of the mortgage insurance pttviously in effect, from an altemute mortgage insurer appr�ved by i,ender. If
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<br />.:-�4: ��; substanNally equivalent mortgagc insurance coverage is not available, Borrower shall pay tc L.ender each n►onth a sum equ ro
<br />�r=:;���..'' one-twelfth of the yearly mortgage insurance premium beiug paid by IIorrower when the insurance coveragc lapsed or ceasui to
<br />-- •:;•;�;,; be in effect.Lender will accept,use and retain these payments as a loss rescrve in lieu of mortgage insurance. Loss resorvc
<br /> - .... form 3028 9/90
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