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<br /> S. Nazard o,Pcoperty Insurance. Borrower shull keep the improvements n�w e�isting ��r hereaficr crcwt�Yl nn ttto
<br /> Properey insund against loss by fire,liauuds lncludod wlthin thc tcrm "extcnded covcrage"m�d �ny �Uher tiu�c�rdw, iailuiUizg
<br /> tloods or flooding,for�vhich Lender requires insurance.This insurnnce shuli be mnintaine�} in qte mm��eut�aud fi►r Ilw�x:ri�Kty
<br /> that I.ender reyulrea. The inaurance cArrler pravtdlafi�e Insumttce ahall bc ch��sen by BonaK�cr hubJcct tu I.cn�lcr'r�uppr�►v�d
<br /> which nhall not be unreasonably wIthheld. If Borrower fails to maintuin coveruge dcacdbed ub��vo, l.endet mi�y, nt l.endrr'x
<br /> optton,abtain caverage to protect Lender's dghts in the Property in acrartlan¢o with papugntph 7.
<br /> All insurnnce pnlicies und renewals shall be acceptable to L,ender and �hnll include a Ftundnrd �nnrtgcigc rluuse. I.crHler
<br /> shuli have die right to hold d►e palicles wid rencw�t.r. IP Lendar reyuirea.gorrower ehnil pre�mptly givv to L.endrr�iQ����cf�►te�uP
<br /> puid premtums und renewal notices. In the event of tass,Boaawer shull give prompt notice tu the insurunco curricr und I.ender.
<br /> Lender may make pmof of loss if not made promptly by Barrawee.
<br /> Unless L.ender and Borrower otherwise agrce in writing,in9umnce pracceds shal! be uppliaf to restarutiun ar re�ufr uf thc
<br /> 1 Property damaged,if the restoratton or repair is economically feaslble and I.ender'a security ix nnt lessencd. if the restorutiun ar
<br /> repair fs not economically feasfble or Lender's security would be lessened, the insumnce procecda el�all be upplied to the sums
<br /> � secur� by thts Secudty Instrument. whether or not then due, with any excess paid to Borrawer. if Hovruwer ubundant� the
<br /> Praperty.Ao�dces not answer wlthin 30 days a natice from I.ender that the insurunce carrfer hav offered to xettle a rluim.then
<br /> I:ender may collect the insurance proceeds. Lender may use the praceeds to repufr or restore ehe Propurty or n► pay auma
<br /> serured by thls Security Instrument.whether or not chen due.The 30-duy period will begin when the natfce is given.
<br /> Unless Lender and Borrower atherwlse a$ree in writing. any application af pr�ceeel.g to principal ahull not extend ��r
<br /> postpane the due date of thc monthly paymentR referred to in paragraphs 1 and 2 ar chunge thC anount �f the paymentx. 4f
<br /> under psuagraph 21�the Pruperty is acquired by Lender.Borrower's dght t�any insurnnce pollcies and praceeda resulting fram
<br /> damu��to the Property prIor to the ucquisition shall pass to Lender to the extent of the tiums secured by this Security Instruntent
<br /> immediately ptior to the acquisition.
<br /> 6.Occapancy,Preservation,Matntenance and Protectioa of the Property; Borrower's Loan Appllcnttun;I.easeholdA.
<br /> �orrawer ahull occupy,establish,and use the Property as Horrower's pr�ncipai mxidence within sixty duys after the executian uf
<br /> this 3ecurity Instrument and shall cuntinue to occupy the Property as Bc�rrower'S principal residence for ut Ieu.yt one yeur aiter
<br /> the date of occupancy. unless Lender otherwlse agrees in writing,which cansent shall nat be unrea.�onubly withheld, i�r unlesg
<br /> extenuating circumstances exist which are beyand Borrower's cantral. Burrower nhull ncn destroy. dctmuge ar impair the
<br /> Propetty, allow the Pmperty to detedarnte. or commtt waste on the Property. Borrower shall be In defuult it'uny fnrf'citure
<br /> ' action or proceeding, whether clvIl or crimirtal, is begun that in Lender'��ood faith judgment could result in forfeiture��f the
<br /> Property or otherwise muterially impair the Iien created by thls Secur�ty Instrument or L.ender's securfty interest. 8arrower muy
<br /> cure such a default a�id reinstate.as provided in paragraph 18,by causing the action or pmceedin�to 6e dismih,cd with u ruling �
<br /> that. in I.ender's good:fnith determinntion, precludes forfeiture of the Bonower's intemst in the Property or other matcrtai
<br /> impuirment of the Ifen crcated by this Security Instrurnerit or Lender's security tnterest. Bormwer shall al.r•o be in defuult if
<br /> Bnrrower,during the loan appllcation proc�.ws.gave materially fulse or inaccurate informatian or statements to Lender(ar fuiled
<br /> ta pwvlde Lender wlth any material infarmation)in connecdon with the loan evidenced by thc Note, including, but nat limitr,d
<br /> w,representattons concerntng Borrower's cecupancy of the Property as a pr�ncipal residence.If this 5ecurity Instrument is on u
<br /> lcusehold, Borrower shall comply with all the provisions of the lea.ce. If Bonuwer acquires fee title to thc Property, the
<br /> tcuschold und the fce title shall not merge unless I,ender egrees to the marger in writing.
<br /> 7.Protection oi Lender's Rights in the Property.If Bonower falls to perform the covennnts and ugrecments cantained ln
<br /> this Secarfiy [nsUVment. or there is u lega! proceeding thut muy slgnificuntly affect Lender's rights in the Propeny (such as a
<br /> praceeding in battkruptcy,pmbute, for condemnation or forfelture or to enforce laws or regulations), thcn I.ender muy da and :�
<br /> pay for whatever is necessary to protect the value of the Propeny and l.ender's rights in the Property. Ixnder'c actions may '�°•
<br /> ' inelude paying any sums secured by a Iten which has priority over this Security Instrument. appenring in cauR, pnying �
<br /> � rcusonable attorneys' fecs and enter�ng on the Property to make rcpairs. Although I.ender may tako actton under this puragrnph •".
<br /> � 7,[.ender does not have to do so.
<br /> i Any amounts disbursed by L.ender under this paragraph 7 shAll become additional debt of Borrowcr secured by this '•�;
<br /> Secur�ty Instrument. Untess Borrower and L.ender a�ree to other terms of payment,these amounts shall beur interest from the •
<br /> ; dute of disbursement at the Note rute and shall be payable, with interest. upon notice from L.ender to Borrower requesting `'''
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<br /> � 8.MortgaAe L�surance.If Lender required mort�age lnsurence as a condition of making the loan sccured by this Security �. �
<br /> j Instrument, Bo�rower shull pay the premiums required to maintain the mortgnge insurance in effect. If. for any reason, the "�
<br /> ; murtguge insurance coverage requfred by Lender lapses or cea�ees to be in effect, Borrower shall pay the premiums required to '� ,
<br /> 1 ubtuin coveroge substuntiutly equivalent to the mort�age insurance previously Sn effixt.at a cost substantiall��equivulent to the '� ,
<br /> � cus� tu &�rn�wcr of the mortgage insurance previously in effect, from an altemate mort�age insurer approved by Lender. If �
<br /> � .rub�UU�tiidly equivulent mortgage insurance coverage{s not av�ilable. Bonower shnll pay ta I.ender euch mnnth a sum equnl to -`
<br /> �►t►e-tweitih uf the yearly mortgage insurance premium being pxid by Bonower when the insurnnce covera�e tapsai or ceased to
<br /> , hc in et'fect. l.cnder wi113ccept.use and retain these payments as a loas rescrve in lieu uf mortbuse insurunce. Lotis reserve
<br /> Form 3028 9/80
<br /> Papo 3 of 8
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