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<br /> S.HazaM Or Pro •� �O`��
<br /> perty Insur�nce. Hotrower ehull keep thc improvementx now existing�or�hereafter erected on the
<br />, Praperty inaured uguinst loss by fire, huwrcis included within the term "extended ecwerage"and ariy other he�ards, incluciing
<br /> flauds or flooding,for�vhich Lender rcqulres insurance.Thix insurance shAll be mai�tained in the omounts and for the pedods
<br /> thut l.ender requircs. The insurance curriet provlding the inRUrnnce sh�ll be chasen by Borrower subject ta Lender's approval
<br /> whlch shall not be unmasonabiy wlthheld. If Borrower fails to muintain coveruge desedbed above, t.ender may,at Lender's
<br />_ option.obtain coverage to protect l.ender's ri�hts in the Pruperty in accordance with paragraph 7.
<br /> All lnsurnnce poNcies und renewals shall be ucceptable to Lender urtd shall Include a standard mort�age clause. Lender
<br /> sha!!have the rl�ht to hoM the po!lcles astd renetiv�ls. If l.snder requlres,Bornot:er sha!!pramptly glvc to l,�nder all scccipu af
<br /> patd pr+cmiums and rencwal notices.In the event of loss.Horrower sh�tU give prompt nottce to the inaurance carrIer end Lender.
<br /> Lender muy make proof of loss if not made prompdy by Borrower.
<br /> Unless L,ender and Borrower otherwise agre�in wdtIng,insurance proceeds shall be applied ro restoration ar repair of the
<br /> Property damaged,if the mstoratlon or repair ia economIcally feasIble and L.ender's securIty is not lessened. If the restoration or
<br /> repair is nat economically feasible or Lender's securtty would be les�ened.the insurance procceda shall be applfed to the aums
<br /> socured by this Secudty Instcument. whether or not then due. wlth any excess paid to Borrower. If Borrower abandans the
<br /> PmreKy,or does nos answer within 3Q days a noticc fram I,cndcr that the insurancs car�ier has offered to �ettle a ctair�. tfien
<br /> I.ender may collect the insurance proceeds. Lendar may use the proceeds to repa�r or restore the Property or to pay sums
<br /> secn�red by this Secur[ty Instrument.whether or not then due.The 3U-day pedod will besin when the nottce is given.
<br /> Unless I.ender and Borrower otherwlse agree in writing. any uppltcation of pmcceds to principal sbell not extend or
<br /> postpone the due date of the rttonthly payments referred to in paragcaphs I and 2 ar cl�an$e ttte amount of the paymen�s. If
<br /> under para�raph 21 the Property is acquired by I.ender.Borrower's c3ght to any insurance policies and proceeds resulting from
<br /> damege to the Property prior to the acquisition shali pass to Leader to the extent of the sums secured by this Security Instmment
<br /> immediately prior w the acquisitton.
<br /> 6.Occupancy,Pecservatioa,Maintenance aud Protectlon of tlte Propsrty;Barrower's Loan AppllcaHon;I.�seholds.
<br /> Bonower shall occupy,�tablish.and use the Property as Borrower's pr�ncIpal residence wIttun siaty days after the zxecution of
<br /> thts Secutity Instrument and shall continue to occupy the Property as Borrower's prlrtcipal residence for at lc�st one year after
<br /> the dete of oeeuQaney:unlerc.c IxrulPr�thetwi�egr!�s In wrlt�ng. whir.�s.�unseni shs!!not!ie uasr,�onatsly witf�lStld, csr ual�s ,
<br /> extenuating circumstances ezist which are beyond Borrower's control. Borrower shal! not destroy. damage or impair the
<br /> Property,allow the Property to deteriorate, or commit waste on the Property. Borrower shaU be in default if any forfeiture
<br /> action or proceeding. whether cIvU or cdminal,is begun that in Lender's good faith judgment could result i n forfeiture of the
<br /> Property or otherwise materiaUy impair the lien c�eated by this Secwity Instiument or Lender's secudty interest.Boaower may
<br /> cure such a default and reinstate,as provtded in paragraph 18.by causing the action or proceedtng to be dislnissed with a ruling
<br /> that. in Lender's good faith determinadon, precludes forfeiture of the Borrower's interest in the Property or other material
<br /> impairment of the lien created by this Security Insuument or Lender's secwity intarest. Borrower shall also be in default if
<br /> Bomower,during the loan application process.gave matedally faise or inaccutate inforniarion or statements to I.end�r(ar failed
<br /> to pmvide L.ender wtth eny material information)in ooiu►ection with the loan evidenced by the Note,including,but not limited
<br /> to, representatioas conceming Borrower's occupancy of the Property as a principal residence. If this Security Instevmeat is on a
<br /> leasr.hold, Borrawer shall comply with ail the provisions of tha lease. If Borrower acquires fee title to the Property. the
<br /> leasehold and the fee tide shall not merge unless Lender agrces to the aterger in wrldng.
<br /> 7. Pmtection of Le�tder's Rfghte in tke Property.If Borrower fails to perform the oovenaats and agreernents contairted in
<br /> this Secudty Instrument,or there js a legei proccedin�that may significantly affect Lender's rights in the Property(such as u
<br /> proceodiag fn bankruptcy, pmbate, for candemnatlon or forfeiture or to enforce laws or regulatIons). then Lender may do and
<br /> pay for whatever is neces'sary to protect the value of the Property end I.ender's dghts ia the Praperty. Lender's actions may
<br /> inc[ude paying any sums secured by a lien which has ptiority over th[s Security Instniment, appeadn� fn court, paying
<br /> rcasonablc attomeys'feES an�+entering on the Property w make repairs.Although Lender may take action urtder this paragraph
<br /> 7.Lender does poi have to do so.
<br /> Any amounts d�sbursed by Leader tutder this paregraph 7 shall become additIonal debt of Borrower sec�u�ad by this
<br /> Security Instrument.Unless Borrower and Lender agree to other terms of payment,these amounts shalf bear interest from thc
<br /> date of disbuisement at the Note rate and shall be payable. with interest, upon nodce from L.ender to Borrower nequesting
<br /> payment.
<br /> 8. Morigage Ynsarnnce.If Lender required trtort�age insuraace as a condition of making the loan secured by this Secudty
<br /> Instrument, Borrower sha11 pay the premiums required to maintain the mortgage Insurance in effett. If, for any reason. the
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect.Borrower shall pay the prerniums required to
<br /> obtain coverage su6stantially equivalent to the mortgage insurance previously in effect,at a cost subatantial[y equivalent to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage jnsurer approved by Lender. If
<br /> substantially equivalent mortgage lnsurance coverage is aot available.Borrower shaU pay to Lender each month a sum equal to `
<br /> or.e-twelfth of the yeariy mortgage insurance pmmium being paid by Borrower when the insurance ooverage Lapsed or ceased to
<br /> be in effect. Lender wjll accept,ase and retain thcse payments as a loss nseive in lieu of mortgage insurarace. Loss reserve —
<br /> krm 3028 8/90 =
<br /> Papo 3 ot 8
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