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<br /> S. H�zard or PropeMy Insurem�e. Barcower shall keep th�itr�mvementx no�v existing or hemifter erected on the
<br /> Pcope3ty insured ag�inst loss by fire, howrds irtciuded withln the term "extended cavemge"and any uther hnznrds, inciuding
<br /> floads or flaodinb, for which Lender requires insurance.This insumnce Shall be matntnined in the umounts iu►d for the pe�iads
<br /> thut L.ender tequtres.The insuTUnce�rrier providing Qtc Insurance shnll lse ch��tien by&�rn�wer subject to LcnJer's approva!
<br /> which shall not be unreasonably withheld. If Barrower fnils to mteintain covemge descdbed nbave. Lender may, nt Lender's
<br /> option,obtain rnvernge to pmtec4l.ender's rights in the Property ln accordance with p:uasruph 7•
<br /> A{1 insuranc� p�itcies and renewnls shsill t�e acceptable to L,ender und ehall include a etandard mortguge cinase. Lender
<br /> shaU have the right to hold the policles and renewals.lf Lender n�quires. Borrower Rhsall pmmptly give ta Lender�ll receipts of
<br /> paid premiums and renew�l noxices.In the event�of loss.Borrower shall give prompt nadce to the insurance carrier uttd Lender.
<br /> I.ender may make proof of loss if not m3de prompt{y by Borrower. —
<br /> Unless Lender and Horcower othenvtse ngree in wriKng,insurdnce Qroc�ds shall be applied to restomtion or mpair of the
<br /> propetty dsimaged.if the restoratlon or repair is economicaUy Feaslble and Lender's secudty Is aot lessetud•If the restoration or
<br /> m
<br /> repair is not economlcally feusibte ar I.ender's security wauld be lessened.the iasurai►ce proce�is shall be applied to e sums
<br /> sacured by ihis Secudty Insuunient. whether or rtot then due.with any excess paid to Borrower. If Borrower abandans ihe
<br /> Property,�nr daes aot answer within 30 days a notice fmm L.nder thac nhe t�uurancP canier has offere�!to settle o rluim.then
<br /> Lender may co'!ect the insuranse proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums `
<br /> secumd by this Secu�Iry Instrutnent.whether or not then dus.The 3t�day period witi tx�in when the not�ce�s given.
<br /> U�less Lender and Borcower otherwise agree in writing, aay agplication of pmceads to principal shaq not extend or
<br /> postpone the due date of the monthly payments cefemed to in para�rnphs 1 and 2 or change the amount af the payment�. If
<br /> under paragraph 21 the�oP to the a quis�n shalid assBo Lender to the extent of thesums�lisecured bY this��t5+Insuument
<br /> damage to the ProPertY P �1 P '
<br /> immediately prior to the aa�uisltion.
<br /> 6,pocupancy,PreservaUon,Mainteuance end Protectton oi the Properiy;Bon'ow'e�''8 Loan Applicattoa;Leaseholds.
<br /> Borrower shall�ccupy;establlsh.and use the Praperty as Bon'ower's principal residence withi�a�.izty daYs uftee tt►e exc�udon of
<br /> this Security Insavment and shaU condnue¢o occupy the Propetty as Borrower's principal resi�hnce for at least one year ufter
<br /> the date of occupancy. unless Lender otherwise agees in writ�ng. which consent shall not be+�nmasonablY withheld.or unless
<br /> extenuating circumstances exist whtch are beyond Borrc►wer's conErol. Bonower shall not destroy. dumage or impuir the
<br /> pmperty ullow the Property to deteriorate.or commit waste on the Prvpchy. Sorrow'�r slssl! be ise�efsul� !g�-a'y farfeiwre ,
<br /> action or proceedi�g, whether civit or crindnal,is begun that in Lender s good�'aitls judgment cuuld resu�.t in forfeitune of�.he
<br /> piroperty or otherwise materially impair the lien created by this Security Inswment or Lender's securtty interest•Borrowsr p,�Y
<br /> .aue such a default and reinscate.ag provtded in paragraph i8�by 4�U9If1$�I18 ACI�OA OT JITOOC�IA$t0 t1C dISIIUSSCd WItII II NUII$
<br /> ' tk�at� in L.ender's �oai faith determination. precludes farFoiture of the Bormwer's u►tereat tn the Property or other material
<br /> . �. itttpairment of the lien cre�ted by this Secudcy Inst�timent or Lender's security•interest. Bonrower shail also be in default [f
<br /> ' .�Hornnwer,dwing the loan appltcation pracess, gpve,meterially false or iaacxumte 1i�furma�ion orr atatements to L.ender(or failed
<br /> �; �to provtde Lender with any material infottnadon)ia connection with th�loun evidenced by the 1Vats.ittcluding.but not Iize:tEd
<br /> � to. representations conceming Bocrower's pocupaney of the Property as a princiPal residence.Jf this Seci►rity Insuument is tm a
<br /> leasehold. Borrower shalt compiy with �1�the provislons of the lease. If Bozrower acquires fee title.so Ehe Propetty. the
<br /> , ieasehold and the fee title shall not mergc unless Len�r agrePS to the merger in wridng. •' .
<br /> �.Protection of i.ender's Rtghts in the P�+operty.If Borno�ve:faiis to perf�rm the covenants and agrceu�ents oontained irs '
<br /> this Securtty Instrument.or there is a legal psoceedjng that may.i�niFamdy affect Lender's rights in the Praperty(sua"s e�x.
<br />' procoeding in bankruptcy.prubate. for condemnaclon or forfeiture nr to enforc�laws or regul�ilons).then Lender may d�.find
<br /> pay fot whatever Is necessary to protect the value of 9he Property and I.�nder's�ights ia the PmpertY• Ixnder�s acuons�s�ay
<br /> �nclude paying any sums secured by a llen which 1�as priodty over this 5acau'lty Insuument. �pearing in rotui+ PaY�8
<br /> t�easonable attomeys' fees and enter�ng on the Proper(y to make cepairs.Althougfi Lender may take acdon under this paragraph
<br /> 9.L.ender dces aot huve to do so.
<br /> Any amounu disbursed by Lender und�r ti�s paragcaph 3 shall baoome addidonal debt of Borrower secured by this
<br /> ' �vrity t�uument. UnSes�Buiwwer and Lcndcr r�ce t�otker terms of pAyrnent,th�e nmounts shall bear interest from the
<br /> date oP dist�ursement ut the Note rnte und shall lte�uyable. with lnterest,upou notice trom Lender to JBarrower requestL►g
<br /> paycnent.
<br /> 8.Mortgage Insurance.If Ixnder r�e.quiced mortgage insur�,.,aae as a conditton of making the loan secured by thts Saa..�rity
<br /> Insuument. Bomnwer shxll pay the premiums r�qutred to matnmin the mortgage insuranoe in effect. If. for any ceasc�, u,Le
<br /> mortgage fnsurnnoc coverage requined by Lerater lapses or ceases to be in effect,Bortower shall pay the premituns reqaired to
<br /> obtain covernge substnn6ally equ[vulent to the cnQr�a�e Insurance previously in effect. at a cost substantially equivnlent to ttne
<br /> eost to Borrower of the mortgage insuranc� prevtously tn effect. from an alternate mongage insurer appmved by Lender. If
<br /> substandaliy equiynlent mortguge insurance covemge is not avnllable, Borrower shall pay to L�ender each month n sucn e��al to
<br />-= one-avelRh of the yearly mortgage insurance premium being Paid by Borcnwer when the inssuaace coverage lapsed or c�szd to
<br /> be in et�ext.I.ender will nccept,use and retnin these payments as a loss reserve tn lleu oF mott�age insurunce. Loss reserve
<br /> Form 3028 9/90
<br />= Page 3 a:8
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