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<br /> ���� �t?68�i"�
<br /> S. Haz�rd or Property Ingurence. Borrowcr Ahall ktxp the impravementc+ n ex sting or ercafter eee.cted on the
<br /> Propeity insured oguinst losA by fire,hazunde included within thc term "extendai covernge" nnd any ather hatarda, includinp}
<br /> � tlaodA or tlooding, for which I.cndor requIres insuranre.This insurnncc shull bo muinluined in thc umaunts i�nd for ehe perlods
<br /> that Lendee reyuie�s.The insurnncc carrter providing the insunu�re ahull be ehosen by Aonnwer tiuh)ec�te� Lender's npprov�l
<br /> whfch shal! not be unreasonab�y withheld. !f 6ormwer fnils to mnintain rnvemge describecf alwve,Lw:ndee nwy. ut Lender e
<br /> option,obwln covernge to protest Lender's dghtR in the Property in nccordnnce with purngmph 7.
<br /> All insumnce policies und rcnewals shnit be acceptuble to L.ender and shall inetude a atondard musgage clnuse. i.ender
<br /> shull have tho rlght to hold the potictes und renewale. If Lender r�equims.Horrower shuif prompdy glve to Lender all receipts of
<br /> paid premiunts and renewnl nottces.In the event of loag.Borrower shall glve pmmpt notica tn the insuranx currier und Lender.
<br /> • L.ender mny�r�ulce proof of loss if aot made pmmptly by 8orrawer.
<br /> � Unless I.ender and Honower otherwise n�ree!n wtiting.Insurance proceeds shall be appfied to restoratiun ur repafr of die
<br /> Pcoperty clamnged,if the restoretlon or repair is econom}c�ily faisible and Lender's security is not lessened.If the restorntion or
<br /> repair is not eronomically feasible or Lender's secudty woald be lessened.the insuruuce proceeds shatl be npplied ta the sums
<br /> secure� by dds Secur�ty Insttument,whether or not titen dtee, wtth nny excess paid to Borrower. If Borrower abandons the
<br /> Property,or does not answer within 30 days a nodce from l.ender that the insurnuce carrier has offeresi to settle a claim,then
<br /> l.,ender may caUect the Ins�rance proceeda. I.endcr may use the pmcceds to repair or restor�e the Property ar to puy sums
<br /> securad by tdis Security Instrument.whethcr or noi then due.Tbe 3U-day pedod will begin when the notice is given.
<br /> ; Unless i.ender and Bonnwer otheavise agree in wrlting. any applicution of pmceais to principal shaq not extend ur
<br />�! postpone the due date of the monthly payments referrcd to in paragmphs 1 and 2 or change the umount of the paymcnts. If
<br /> ; under paragmph 21 the Property ia acquired by i.ender.Bomawer's ri�ht to any insurance poHcies and pmceeds resulting fi+om
<br /> damage w the l�mperty prIor to the acqulsltion shall pass to Lender to the eatent af the sums secured Dy thia Securtty Insttutnent
<br /> immediately pdor to the acquisiuon.
<br /> 6.Oocap4ncy,Prrserv�tton,Malntenauce and Protection of the Pt+operty;Borrower's LoAn AppUcaUon;LwseLofdo.
<br /> Horrower ah�ll occupy.estubiesh,aad use the Propetcy as Borrower's princIpal resIdence wlthin sixty days after the execudon of
<br /> thia Security Instrument end shall continue to occupy the Aroperty as Borrower's principat residenee for at least one year after �
<br /> the date of oxupancy, untess Lender oiherwlse agrees!n writ�ng, which oonsent shal! not be wueasonably withheld,or unless
<br /> exteauating circumstances exIst which are beyond Borrower's control. Borrower ehall not destmy. dvnage or impair tbo
<br />�� 1'roperty.a!!ow the ProDerty to deterIorate. or commit waste on the Property. Borrower ahall be in default if any forfeitun
<br />,{ action or procceding,whether civil or criminal.is begun that in[.ender's good faith judgment oould res�ilt in forfettueie of the
<br /> 1 Property or otherwlse matertally impair the lien create�t by this Security Instruraent oa i.ender's socwity idurest.Bon+ower may
<br /> i cure such a default and reinstate,�.s provlded in paragraph 18,by causing die actIon or proceodin,g to be distnissed wlth a ruling
<br /> that, ln I,ender's good faith deterntlnation. precludes forfeitum of the Borrower's inurest In the Property or other maurial
<br /> impaimzent of the lien created by thls Secudty Instrument oi Lcnder's sccurity interest.Borrower ahal!also be in Qefault if
<br /> j Borrower,during the loan application pmoess.gave materially felse or inacsuruta informadon or stauments to Lender(or failed
<br /> �} to provide Lender with any maudal Inforrt�ation)in connection wttb the loan evidenoed by tho Note,lacluding,but not timited
<br />� to.repraemations concemtng Horrower's occupancy of the Prnpeay as a prIncipa�residence.If this Secudty Inatnument[s on a
<br /> leasehold, Borrower shall comply wlth ell the pmvisions of ihE lease. If Borrower acquires fee dtle to the Property, the
<br /> leasehold a��d the fee dde shall not merge unless Lender agmxs to the mer�er in writir�g.
<br /> 7.ProtaKion of I.eAder's Rfghts ia the Pcopaty.If Borrower feils to perform the covenants aad agreementri coritained i�
<br /> � this Security Iasttument.or there fs a legal proceedieig that may sigaificandy affect Lender's dghts in the Property(such as a
<br /> procading in bankruptcy.probate.for condemnation or forFeiture ar W tnforcE laws or regulations),then Lender may do and
<br /> pay for whatever is necessary tp'probect thc value of the Property and L.ender's rights in the Propeny. Lender's aetion�may
<br /> include paying pny sums secured by a lien which has priority over this Saurity Insaument. appearing in court. paying
<br /> re�sanable atto;neys'fees and enterIng on tha property to make repairs.Although I.ender muy take ection under this paragraph ,
<br /> �.I.ender das naY have w dQ so.
<br />;, Aay samounts disbursod by L.ender under this paragraph 7 shall.bemme addittonel debt of Borrower secured by this
<br /> Security Iastnunent.Unless Borrower and Lender egcrs to otlter terms of payment,these amounts shall bear intwrest fnom the
<br /> date of disburaemant at the Note rate and shall be payable. with interest. upon notice from L.ender to Borrower requesting
<br /> PaYment•
<br /> 8.Morignge Ingurance.If Lender required mortgage insumnce as a condIt[on of�ng the lpan secured by thia Se�urity
<br /> ' Instr.ument. Barrnwer shall pay the premiums required to matntain the mortgage insurance in effest. If, for any neason, the
<br /> � mnrtguge insurance ooverage xeqnired by Lender I�pses or ceeses to be in effect.Borrower shall pay the premiva�s mquit�ed to
<br /> abtain coverage substantFally equlvalent to the mortgage insurance previuusly in effect.at a rnst sub�antfully equivalent to the
<br /> ! oost to Borrower of the mortgege insurance previously in effect. from an altemate mortguge insurer approved 6y Lender. If
<br /> � substentialiy equivalem mortgage{nsurancc coverage is not availabte,Bflrrower shall pay to Lender euch month a sum equal to
<br /> � one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect.I.ender�vill aocept,nse and retssin these payments as a loss reserve Ia lieu of mortg�ge ins►►rance. Loss mserve
<br /> � Form 3028 9/90
<br /> Pape 3 0!8
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