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<br /> :i. Nas�r+d or Abpsr�y Iawcance. 8orrowtr shs�l Icap thc improvcments now existing or hereqffiGr eracted a► the
<br /> i'ro�rty i�isurul ogainst ioss by firc, hatards includcd wtthin thc term "extendcd covcrugc"und any atht�I�axards, itar,luding
<br /> flaxiy or ilooding,f�r w�tich Lcn�er requires insarartce. This insurance siiAll be mnlntuine�in tlte�ntqunc.g An�far the perlods
<br /> tt►at Le��der requites. Tho insurunce cutricr prc►vidjng the insurance sliull bc c�cosen by 13axrowcr SubJc�t to Lender's appivval
<br /> which �shail not be unrea.sonabiy v�ithhcld. If&rrrowcr fails M maintuin coverage describcd n6ove. Londcr nwy. at I.ender's
<br /> optloe�.ubiuin cnverage to protect i.rrnder's rights in thQ Propecty in accordnnce wIth parag�pph 7.
<br /> All insurancc polic4es end rcnewals shxtl be acceptablc to Ler�det end ahall include�n standa�►d mo�tg���clauso. �.ender
<br /> sh�tl�have t�►c riQht to hnld�he�ectlicies nnd renewels.if I.encicr recn�ires,Rorrower shnll pzompily�ive to Lend�i�ll t�erefpts,of
<br /> poid premlums ar�d renewal�wticts. In eho event of loss. Bormwer shAll give pmmpt notic�to the lnsurar►cc currler and I.ander.
<br /> Lender��ay make prouf of loss if not made promptly by Bomnwer.
<br /> Un(ess I.ender and Borrower ottrerwise u�ree in wt�dng,insurunce proceeds shall bn t�pplfed to restorA;tlp�ar repuir of tha
<br /> property danwged.if the restoration or repa�r is economiculiy feusible and L.ender's securlty ia not lessened.If the restoratlan or
<br />: repair Is nat econan�icully feusible or Lcnder's recuriry would be lessened.the insuranca pmoe8ds shall be upplted to the swes
<br /> secumd by this Socutiry Instrument, whether or noi then due, with nny excess puid to Bomnwer. If&►crow�et ubundons thc
<br />, Froperty,or doe.s not answer wjthln 30 days u notice from I.ender that the insurance c:urier ha.,g offexod ta settle a clnim. then
<br /> [xnder rnay coltect the insurance proceeds. Lender may use the ptoceeds to repair ox cpstose the Prope�ty ar to pay sums
<br /> secured by this Security Instn►ment,whether or rtot then due.'fhe 30�day perlod will be�in when the notiae is given.
<br /> Uniess Lender and Borruwer otherwIse egrec In writing, any opplication of prrMx�ds to pr�ncfpa! ahala aot exttnd or
<br /> postpone tiie due date of the monthly payments referned to in parngraphs I und 2 or �hnnge the umount of the..payrtzents. If
<br /> under parasraph 2l�the Property Is acquired by L.ender. Bormwer's right to aay insurs�c�e pollcles suid proa�ds resulting from
<br /> damage to the Froperty priur to Ute acquisitlon shaii pass to Lender to thc cxtant of tho c:ums secured by this Securlty Is�siniment
<br /> immediate[y p�iar to the acquisition.
<br /> 6.Occnpaacy,Preservatton�Mainteuauce and Protectton of the Property;Bortawer's Loan Appllcuttan;d.easehold9.
<br /> Borrower ahall occupy.establish,and us�thc Pmperty as Borrower's pr�ncipal residena�withtn sixty daye after the executIon of
<br /> this Security Instrument and shall continue to oocupy the Property as Borrower's priQCipul resideace for at least one year nfter
<br /> the date of occupancy,unless Lender otherwise agrees in wridng. which consent shall not be unmasonably wtthheld.or unless
<br /> extenuating circumstances eaist which aze beyond Borrower's control. Bormwer shall not destmy. dvns�ge or impair the
<br /> Property,allow the Property to deteriorate,or commit waste on the Propecty. Bormwer shall tre in de�ult if any forfeiture
<br /> action or proceeding. whether civil or cdrrdnal. is begun that in I.ender's good fatth judgment could result in forfeiture af the
<br /> Property or otherwise materialty impair the lien created by this Security Insqument or I.eader's socurity interest.Borrower may
<br /> cw+e such a default end reinstate.as pmvlded in patagraph 18.by causing the act�on ar prooeeding to be dismissed wlth a ruling
<br /> tiiut. in I.a�tei's good-faith det�rmliiatio�. Prcrtucics Fasf�iiurc at the Barro�:�er's insss�t in the Pro�siy or oth�r mat�ria!
<br /> impairnient of the lien creaced by this Ser.urity Instrument or Lender's security inte�t. Borrower shall ulsn be jn defuult if
<br /> Borrower,during the loan apptication process.�ave materially false or inaccnrate informatiac►crr statements to I.ender(or failed
<br /> to provide Lender with an�y material information)in rnnnection with the loun evldenced by the Note,including.but not limited
<br /> to,representations concerning Borrower's occupancy of the Property as a principal nC.gidence.If this Security Instrument is on n
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Praperty. the
<br /> leasehold and the fee tide shall rtot merge unless L.ender agmxs to the merger in writtng.
<br /> 7.Ptutect[on of I.ertder's Rights in the Propeaty.If Borrower fails to perforrr�the covewnts und agreemer�ts contained in
<br /> � this Sccuri2y insavment, or there is a legal proceedtng that may significantty uffeca [.ender's rights in the Prop�rty(such as a
<br /> proceed�ng in bankruptcy.probate, for condemnation or forfeiture or to enforce laws or regulations).then I.ender may do and _
<br /> pay for wl�satever is necessary to pmtect the value of the Property and L.ender's rights in the Propertyr. Lender's actions may
<br /> include paying any sums secured by a lien which has priority over this Se�curicy Instrument, appearing in court. paying
<br /> reasonable attorneys' fets and entering on the Property to make repairs.Although f..ender may tuke actlon under this pata�rnph
<br /> 7,L.ender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragrnph 7 shull become:iddltIon�l debt of Barrower secured by thts
<br /> Secudty Instrument. Unless Borrower und I.ender agree to other terms of payment, these am�unts shall ba�ar interest fmm the
<br /> dste of disbursement at the Note rate iutd shall be payable. with interest. upon nodcc from I.ender to �3orrower roquesting
<br /> payistert.
<br /> 8.Mortgage Insurance. If I,ender required mortgage insuranoe as a condition of making the loan secured by this SKaarity
<br /> Instrument, Sorrower shall pay the premiums requlred to m�inu�in the mortgage insurartce i�effect. If, for any mason. the .-
<br /> mort�age insarance coverage required by Lender lapses or ceases to be in effect,Bornower shall pay the premlums required to
<br /> obtain covecage substanti�lly equivalent to the mortgage insurance previously in effect. at a mst substwntially equivulent to the �
<br /> cost to Borrower of the mort�agc insurance prevtously in effect. from an altarnate mortgage insurer spproved by [.ender. If
<br /> substandally equfvalent mortgage insurance rnvernge is not avuitable. Borrower shr;�l pay to Lender cach month a sum equal to �
<br /> one-twelfth of the yearly mortgage insatartce premium beins paid by Bomower whem thc insu�nce corera$e lapsed or ce�ed to -
<br /> be in effect.Lender will accept,use and retein these payments us a loss reserve in licu of mongage insur�,.�sre. Loss reserve
<br /> Form 3028 9/80 :_
<br /> PoOO 3 of 8
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