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<br /> ' g. �b op propeety Insarance. Borrower ehull lceep the improvements now existing os herestter erected on the
<br /> prcpeRy insured againat loss by fire. hazards inctuded wtthiu the term "extended covcra�e"and any other hazurds. including r
<br /> floods�r floodin�,for which I.ender requtres Msurunce.Thia insurance shall be maintulned in the amounts and for the pedods
<br /> that Lender requires. The lnsurnnce c�rrier pmvlding the insurartce shaU bc chosen by Borrowcr subj�nder maye at I.ender a
<br /> which shalf not be unreasonably withheld. If Borcower fails ta maintain cavera�e descrtbed atrove.
<br /> opclon.ubtnin coverage to pratect Lender's r�ghts in the�Property fn a�Arden hp�h P��8 apetandard monFaSe dause. I.ender
<br /> All IRSIlTBiICC(X111CtG1 qIIY �tuowata oi�w+ �n+uw..r.�..�� •" "�•'-^ ---
<br /> sh�ll h�ve the dIIht to huld the poltct.s and renewals.If L,ender require3,Borrower shall promptly givc to Lender ali receipts af
<br /> paid premiums and renewal natis:e.v.In th�event of loss.Borrower shall givc prompt notice to the im�uance carrier�nd Lender.
<br /> i L.ender may make pmof of loss if not made promptly by Borrower.
<br /> (Ialess i.ender and Borrower othErwise agree in writing. insurance proceeds shall be applied t�restoration or repair of the
<br /> Property demaged,if the restoration or repair is economically feasible and I.cndcr's securlty is not lessene�.if the restotatton or
<br /> repair is not economically feasible ar I.ender's security would be lessened,the insurance proceeds shell be applie�l to tha suma
<br /> secured by this Secnrity Instrumem. v�hether or not then due, wlth any excxss pald to Borrower. If Barrower abandons the
<br /> prnperty,or does not answer wjthin 30 days a nodce from i.ender Qiat the insurance carrier has affered to s�ttle a claim. thea
<br /> L.e,..ier may co�'ect thc inaurance proceeds. Lender may use the proce�ds to repatr or restore the Propeity or to pay sums
<br /> secured by this Security Instniment,whether or not then duo.The 30-day perTod wi�l begin when the nodce is given.
<br /> Unless I.ender and Borrower othetwise agree in wrlUng. any uppllcatton of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />� under Faragreph 21 the Property 1s acquired by Lender.Borrower's right to any insurance policies and proceeds resulting from
<br /> daznage to the Property prior to the acquisftlon shall pass to Lender w the extent of the sums secured by thia Securiry Instnunent
<br /> � I�pmediately prior to the acquisition. go��yer's Losn AppUcation;Leaseholds•
<br /> 6.Ooeupancy,Preservetlon�Ma�aten�nce and���We1�rinci al re�;Ideace within slxty days aRer the exetuflon of
<br /> Borrower shall occupy, establish,and use the Pi+opercy P P
<br /> this Security Instnunent and shall contlnue to occupy th�Property as Ho:mwer's princlpal residence for at least one yea�'aRer
<br /> � the dnte of occupancy,untess Lender otherwise agroe.r•in wrjtirig. wisich can�t shsl!°°L be��r`-'a"""�'ly wlthheid.or unless
<br /> extenuating circumstances exist which are beyand Borrower's control. Aonower chait not desuoy,
<br /> damage or impair the
<br /> property.allow the Property to deteriorate,or oommlt waste on the Property. Borrower ehall be ln default if any forfeiture
<br /> action or pmceeding.whether civil or criminal,is begun that in L.ender's good faith judgment coutd reaulc in Porfeiwre of tha
<br /> property or othenvise materially impair the lien create�t by this Secudty Instrument or I.ender's security interest.Baxrower may
<br /> cure such a default and reinstate.os pmvided jn P�8�Ph I8.by causing the acdon or proceeding to be dIsmisszd whte��i�n�S
<br /> ��� �� L,ender�$good fatth detemunation, precludes forfeiture of the Bonower's interest in the Property
<br /> icnpairment of the lien created by this Security Insuument or Lendet's seturity interest. Borrower shall also be in default if
<br /> Borrower.dudng d�e loan applicadon process.gave mater�atly fatse or Inaccurate informaYion or statements to Lender(or falled
<br /> W provide I.ender wlth any material iaformadon)tn connectlon wlth the loan evldenced by tbe Note,inciuding.but not limiud
<br /> to�repnsentetions conceming Borrower's occupancy of the Pmperty es a pr�ncipal residence.If this Sectuity Insnument is on a
<br /> leasehold. Borrower ahaU aomply with all the provisbns of the lease. If Borrower acqutres fee title w thc Properh+. the
<br /> (easehotd and the fee title shaii not merge unless�L.cndar:�i�w the merger in wridng•
<br /> ' 7.Prntectlon of Lender's Rights in t6e Pavperty.If Borrower fails to perfarm the covenants and agreements containod in
<br /> this Security Instnunent,or ther�is a tegai proce�ing that may sigaific.antly ctffect Lender's rights in the Property(such as a
<br /> proceeding in banlcniptcy, pmbate. for condemnation or forfelture or to enforce laws or regutatioa�),t1►en�der's actions may
<br /> pay for whatever is necessa�y to protecc che vatue of the Property and ixader's dghts in the Propetty•
<br /> include paying any snms secured by a lien which hus prlority over this Secudty Insavment. appearing in court. payiag
<br /> reasopabte uttorneys'fees and emering on the Property to make repairs• Altt►ough Lender may take act3on uader this paragrapb
<br /> 7.I.ender dces not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shaii become additional debt of Borrower secured by this
<br /> ' Security Instrument.Unless Boaower and Lender u�rce to ottcer terms of payment, these amouats ahall bear interest fmm the
<br /> � date of disbursement at the Note rate and shall be payable. w[th interest. upan notice flnm Lender to Borrower requestIng
<br /> , payr�aent.
<br /> 8.Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by thia Security
<br /> Insttument.Bonower shall pay the premiums required to maiatain the mortgage insurance in effect. If. for any raason. the
<br /> — inortgage insurance co�erage required by L�:ader lapses or ceases to be in effect,Borrowet ahail pay the premiams re9uired to
<br /> obtain coverage substantiaUy equivalent to the mort�ege insucance previously in effect,at a cost substantially equtv�lent to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an eltemate mortgage insurer approved by I.ender. If
<br /> substanflally equivatent mortgege insurance oavemge is not available,Bonower shall pay to Lender each month a sum equal co
<br /> one-twelfth of the yearly mottgage insurance premium being paid by Borrower when the insuranoe ooverage Iapsed or ceased to
<br /> be in effect.Lender wilt acoept.use and retain these payments as a toss reserve in lieu of mortgage insurance. Loss tesecve
<br /> Potm 3028 9I80
<br /> Pepo 3 M 8
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