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<br /> S. Hwrd or P�vperty Ins�rxmae• Bonoyuer shall kap the improvements �ow exisdng or hereufter croote�i an t1w
<br /> Property insured ngainst lass b�r fire, hazArdR Included within the term "extendad coveroge"and any nthcr har:�rds, inrludi�w�
<br /> tlaxts ar flaudin�,far which Lender requires insur�nce.ThiK insurunce shall bo maintained in the un��uunt�and fiir tttc ps:ri�vls
<br /> that I ender rcquires. The insurance cArrler providing the insuraucc el�ull bv chosen by Harrowcr su6jcct ta I.cnd�r'H a�prirvnl
<br /> which shnll not be unreasonably wlthheld. If Bonower fs�ils to maintnin cavemge described abcwc, I.etxlcr nu►y. nt l.,a:nder'.r
<br /> option,obtaln coverage ta protect I.ender's dghts in the Pewperty in nesordance with purogrnph 7.
<br /> All insurance policfes und renewals shall be acceptabte to I.ender and shnll include n Ftandurd mortguge clauxe. I.ender
<br /> shall hnvc the r��ht ta hntci the poticies and renewalF. If I.cnder requires.Barrower ah�ll pramptly givo to i..c�tdcr tdl recefpty nf
<br /> paiA preraiums and renewal naHces.In thc event of loss,Barrower shutl givo prampt notice to the intiumnce carrler and l.ender.
<br /> Lender may make proof of loss if not made promptly by Bocrower.
<br /> UnlcSS LRnder and Bonower othenvise agree in writing,insuranee proeeeda shull be upplied to re!�torc�tlim ur repair af tlu
<br /> Pca�perty damaged,if the restoratian or repair�s economically feASible und I.ander•s secudty is not Iessened.if the restorattim e�r
<br /> �+epair is not economically feasible or I.ender's securlty would be lessened.the insurunce praccede shull be appliecl ta tho r;unts
<br /> secured by this Securiry Instrument, whether or not then due. wlth unY excess pafd to Horrower. (f Bottowcr iahu�xion» the
<br /> Propertyr,or does n�t aaswer within 30 ctays a notice from I.ender that the insurance cattier has offered ta rettte a citdm, then
<br /> L.ender may•cotlect the inaurance proceeds. Lender may use the proceeds ro repair or restore tt�e Propeny or ta pay aumr
<br /> secured by thla Securiry Instrument,whethar or�at then due.The 30�day pertod will begin when the notice ix g.ivcn.
<br /> Unless Lender nnd Borrower othenvise a$rea in writing, any npplication of proceeds to principal shall nat axtcnd or
<br /> pastpane the due dpte af the monthly payments rcfsrred to in paragruphs 1 and 2 or chnnge the wnount of thc pnymcnt�. If
<br /> uncter paragrapb 21 the Property le acquired by Lender,Bonower's r�ght to any insurance}wNcies nnd pracee�ls resuldng from
<br /> demage to tfi�e Prop�.xty prlur tu die uequisidun shaR pas.e to L.ender to the extent of lhe sums secured hy this Security Instntment
<br /> immedlately prior ta the Acquisition.
<br /> 6.Oecupar►cy,Y�re�servation,Maintenance and Protectton of the Property;8orrower's Loan Appltcatlon;Ixasehoids.
<br /> Borrower ahall occupy,establish,and use the Property us Borrower's princip�l rcsidence within sixty duys aRer the executiun of
<br /> , this Security Inatrument and shal1 continue co occupy the Property as Bonower's principnl restdence for ut least ane yeut after
<br /> the dato af ascupuricy,untesa Lender athenvlse agrees in wrttin�. which consent ahall not be unreugonably withhetd. ur unleys
<br /> extenuating circumstances exist which nre beyond Borrawer's contral. Borrower shall nat destroy. damage or impair the
<br /> Praperry, �llow the Property to deteriorate, ar commit waste an the Propeny. Horrower shnll be in default if uny forfeiturc
<br /> action or proce�ding, whether civll or crimi�nl,is begun that in I.ender's good fuith judgn�ent could result in forfeitur�e of the
<br /> Praperiy or otherwf�e materlapy impair the lien created by this Secudty Instrument or Lender's secudty interest.Harrower mny
<br /> cure such a default and r�instate,as provided in pnra�rnph l8,by caustn�the action ar pracecding to be d[smissed with u ruling
<br /> rhat. in Len�kr's gv�xi�t'alth determinatton, prcclurl�fodeltsue Qf the �nower'a �ntere�t in the P[opertV oi OtI1Cf fltAtCTtUI
<br /> Impairment of the Ilen created by this Security Instrument or I.ender's sec.urity interest. Bonower shall ulso be in defuult if
<br /> Horrower.durin�the loan appltcution process.gave materially false or inaccurnte informutian or statements to L.ender(ar fuiled
<br /> �,.f.,;, to pros�ide Lender with nny material infam�ation) ln conneetion with the loan evidenced by the IYote, including.but not limited
<br /> to,representations concerning Bonawer's occupancy of the Property us u principal residence.If this Security f�strument is an u
<br /> l� leasehofd, Borrower shall comply with all the provisions of the ica�e. lf Borrower acquires fcc titic to the l�raperty. the
<br /> leasehold and the fee dtle sitntl not merge unless Lender ugrces to the merger ln writing.
<br /> 7.Proteetton of I.ender's Rishts In the Property.Yf Borrower fails to perform the covenuntr,and agreements cantnined in
<br /> this Securiry Instrument. or there ts a legal proccxding thut may significuntly nffect Lender's ri�hts in the Property (such us e
<br /> procee�ing in bankruptcy.probate. for condemnation or forfeiture or to enforce laws or re�ulations>.then I.ender mny do und �
<br /> ' pay for whatever is necessary to protect the value of tho Properry and Lender's rights in the Property. Gectder's actions muy
<br /> Include payins any sums secured by u lien which hus priority over this Secudty Instrument, upprAring in court, ps+ying
<br /> reasonable anomeys'fees nnd entering on the Properry to make repairs. Aithough I.ender mny talce uMion under this pstragraph ,
<br /> 7,Lender does not have to do so.
<br /> �:t Any amuunts diabursed by I.ender under this paragraph 7 shall become uddidonul debt of Borrower secured by this
<br /> Security Instrument. Untess Sorrawer and Lender agrce to othar terms of puyment. these amounts shall bear interest from tha
<br /> date of disbursement at the Note rate and shall be puyable, with interest. upon notice from Lender to Borrower requesting
<br /> payment,
<br /> 8.Mortgage Insut�tnce. If Lender required mortga�e insurance ns u condition af makin�the loan secured by this Securiry ''�
<br /> Instrumerrt, Borrower shall pay the premiums required to maintain the mortgage insurunce in effect. ]f. for nny re:sson. the '= .
<br /> �n._.
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect.Borrower shnll pay the pm►niums required to �ti,�
<br /> obtain coverage substanti�ily equivalent to the mortgage insurance prevlously in effect,ut a cost substuntially equtvulent to the
<br /> cost to Borrower of the mort�age insurunce previously in effect, frum an alternate mortgage insurer approved by Lender. lf
<br /> y s�lbstantially equivalent mart�age insurance covem�e is not available.Borrower shall pay to Lender each month a snm equul to .
<br /> one-twelfth of the yeurly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceused to �
<br /> " +�•� be in eftect.Lender wUl aceept,uae and retain these payments as a loss reserve in lieu of mortgage insumnce. I.oss reserve
<br /> Form 3028 9/80
<br /> Papo 3 of 8 .,
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