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<br /> S. H�ard or Proputy Lruranoe. Bormwer stull keeQ the imper,vements now existin� ur hercattcr erxted oa the
<br /> PropertY in,wred y�ain�t lou by fire. tw�ards included wRhln the term "extended covera�e"and Any other hazudi, includln�
<br /> tloods or flax3in�. (ur which l,enda requircs inruru�ce.Thit inwrance stwll be maintalnod�n the amounts rrKl for the pedods
<br /> Ilwt I.ender rcquirc�.The inwr�nce carrier providinJ�the i►uurance sfwll be chasen by Bc�nawer subjoct to�,ervfer's approval
<br /> which shall nW bo unrwccHUbly wlthhcld. If Borrower Pails to moint�in coverwgc described�bove, I.cncicr mty. at I.ctder's
<br /> option,ubt�in rnveraae w pnuoct I.erKicr's rights in the Propeny in accucdance with par�gr�ph 7.
<br /> All insururce polici�u�d rcnewals shall be xceptable to Lender and slwll include a stard�rd moctQage clxuse. I,ende�
<br /> �hall Fwve the�iQht to haid the policics and rcncw;Js.If Leixier roquires,Borr�wcr shall promptly give to I.axier all nccipts of
<br /> � p�id premiums and renewal noticec. In the event of loss,Borrower shall give prompt nodce to the ituurance carrier ard Lender. `-
<br /> Lender tnay make proof of loss if n.ot made promptly by Borrower.
<br /> Unless Lender and Borrower otherwlse agroe in writing,insurance prceeals shall be appliod to restoration or repair of the
<br /> Property dartu�ged. if the rrstoration or repair is economically feasible and Lender's secudty is not lessened.If the n:swrati�n or
<br /> -- repyir is not econo�nically feasible or Lender's secudty wauld be lessened,the insurar�proceeds shalf be appliod to the sumc
<br /> � socuned by this Security Instcument, whether or not then due. with any excess paid ta Harrower. If Borrower abu�dons the
<br /> � — Prope�ty.or does not answer within 30 days a notice from I.ender that the insurnnce carrier has offered to settle a claim.then
<br /> Lendtr rtwy eoUxt the insurance procceds. Ltnder may use the procceds to repair or rcstore the Propeny or to pay sums
<br /> secured by this Security Instrument,whethe�or noc then due.The 30-day period will begin when the notice is given.
<br /> - � _.,_� Unless C.ender and Bomower otherwise ngree in w�Iting, any application of procceds to principal shall not extend or
<br /> -- postpone the duc date of the manthly payments referred to in paragraphs I and 2 or changc the umount of thc payr►�nts. If —
<br /> :°''- under paragrnph 21 the Property is acquired by Ixnder.Borrower's right to any insurance policfes and praceeds resulting from
<br /> 's'. • dama�e to the Property prior to the acyuisition sl�all pass to Lender to the extent of the sums secu*ed by this Socurity Insttument �
<br /> �yj„r��� ".-.
<br /> �' " immodiately pdor to the acquisition.
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<br /> '�:`�`:�`�".� 6.Occupancy.Preaervation,Maintenunce And Protectlon ot the Propetty;Borrower's I.oan Application; Leaseholds.
<br /> Borr�wer shall occupy.establish,and use the Propeny ati Borrower's principal residence within sixty days after the exexution of
<br /> � �' ��:;:��j�y � � this Security Instrument and sh�ll continue to accupy the Property as Bonower's principul residence far ut lea.�t one yeat ufter _
<br /> ' • . the date of accupancy, unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld,or unless
<br /> =�'•.�.�•-�.' _'a:.:••.:��' extenunting circumstances exist which are beyond Borrower's contral. Bonower shall not destroy, daccbge or impair the
<br />,_ ,,, � ' Property, allow the Property �o deteriorate, or commit waste on the Property. Borrower shull be in default if uny forfeiture --
<br /> • action or pracoeding, whether civil or criminal, is begun that in I.ender's gaad faith judgment could result in forfeiture of the
<br /> - �' ' Property or otherwisc materially impair the lien crcated by this Security Instrument or Lender'ti sccurity intcrest.Bonower may
<br /> , . cure such a default and reinstatc,as provided in paragraph l8, by causing the action or proces�ding to be dismissed with a ruling
<br /> _. ,.ir._.;,_,_ ..� . that, in Lender's good faith detcrmination, precludes forfeiture of the Banower's intcrest in thc Property or other material
<br /> � ' impairn�ent of the licn created by this Security Instrument or l.ender'a security interest. Borrower:{hall also be in default if
<br /> �� Borrower,during the loxn application pr�xess,gave materially f•rlse nr inaccurate informatinn or stutements to Lender(or failed
<br /> to provide Lender with any material information)in connection with the loan evidenced by the Note,incluJing,but not limited _
<br /> to,representations coneeming Horrower's occupancy of the Prope:rty as a principal residence. [f this Security lntitnrment is an a �;,_-
<br /> " ' Icaschold, Borrower xhall comply with all the provisions of thc lea,e. If Horrower acquires fce title to the Property, the
<br /> ' leacehold and the fee tide sh�ll not mergc unlr�s L.cnJer agn�c+to thc mergc�in writing.
<br /> � ' 7.Protectton of I.ender's RiRhts in the Property.If Bnrruwer failti tu perfiirm thc covenants and ugrecmcnts rontaincd in _
<br /> this Security Instrument,or there is•r legal prckeeding that may ,ignificantly affect Lender'�rights in the Property (such as a g:
<br /> �� ""°-• • - �� . proceeding in bankruptcy�, prnbate, fix condemnation�r tiufe�ture or t��rnf�rre Inw� cx n•t��il:uinn.�, then Lender may do snd —
<br /> puy for whatever is neccswry t��protcct thr valuc ot'the Property and I.rndcr'� rightti in thc Property. L.cndcr's actions may
<br /> �R ' incluJe paying any tiums sccurec! by a licn which ha. prinriry ovcr thi� Scrurity In�trument, uppcaring in murt, paying �
<br /> ' reawnable attorncys'fees and cntcring an the Propeny to mrkc repair.r. Although Lendcr muy takc artiun under this paragraph
<br /> ' 7,I.ender does not have to Jo s��. —
<br /> � Any :imounts disburu�d by Lender undcr thi. p�ragr•rph 7 .hall hecume aJJitiunal �ebt ��f &m��wer secured by this �'
<br /> t Sccurity Instrunxnt. Unleti+Bormwrr anJ LcnJrr agrrr tu��ther icrm,uf payment, lhe�e •rmnunt+tihall tkar intcretit from the `��'
<br /> '� date of disburscment at thc Nate rute and shall be puyublc, with interest, upon notice from Lendrr t.o &�rrawer rcque.rting �
<br /> . .. payment.
<br /> � 8.MortRa�e Insurance. If Lendcr rcyuircd monga�r in�urancc a.a c�mditicm��f making thr loan scrurcd by thi�Scrurity
<br /> ' '" lnstrument Borrowcr shull a the remium. rc uircJ tu muint•rin thc murt�a�r intiurancc in rffcct. If, lirr an rcason, the �'.
<br /> • P Y P N � b Y �.
<br /> mortgu�e incurance coveruge required by Lender Iapk���r ccaticti to he in eftcrt. Borroacr.hatl pay thc premiumx requircd to ;r_ °
<br /> ~�'"�" abtain cover,� e xubstantiall•e uivalent to thr mort+a�e intiurunc� rc��iuu�ly in rft'rct,at a cutit.ub+t:tntiall• r uivulent to the
<br /> „ S > 9 E � P > 4 �
<br /> ''. • cost to Bonowcr of thc mon�.;►gc in�urancr prcvi��u,ly in cltcrt, fr��m un altcrnatr murtgagr in,urcr appro��ed by l.cndcr. lf �
<br /> ;,• � substantially equivalcnt mortgugc in�uranrc covcragr i,not ��•ai�ablc, Burr�n�•rr.hal! pay tu LcnJcr cach numth a sum ryual to �•
<br /> �� y t one-twelfth ot'the yearly mort�agc inwranrc prcmium txin�puid hy B��rmwc�whcn thr in�uranrr ru�•cra�r lap�cd i�r rwud tn
<br /> - . � be in effect.l.ender will accept,use and retain the�c paymcnh uti a lox, rescrve in lieu uf mortgage in.uranrc. [_o�. rrxrve
<br /> �! • , Fam 3028 9I90 �
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