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<br /> S. Hazurd or !'roperty Ir�mmnce. Borrovler shr.11 kecp thc improvemcnts now existiii� or hercafecr crcctccl on tlic e
<br /> Propert}� insurcd a�uinst loss by firc, hazurds included�vithin thc teem "extended coverago" anA nny other tit�.ards, includin�
<br /> :lcs;.:l5 Ci ilGCn'��ilb.far whi�h Gcrdcr rc.�nirs insurncc. This i�surun�.sha!! �,:m.ainiat;�.xi 6n ttic nmaunt�a�d ;ar thc pc;�;,;s •
<br /> th�t I.ender rcqulres. Thc insurancc carricr praviding the insurance shall be chosen by Horro�ver suUjc:�t to I.ender's approvnl
<br /> which sh�ll not be unreasanably withi�eld. If B�rrower fails to maintain cover:�ge descri6erl abave, Lendc+r m�y, nt L.ender's
<br /> option,obtnin covera�e to prc,tect Lender's reqlits in the Praperty in accordance with parugraph 7•
<br /> AIt insurance policies and rene�N�ls shall'eo acceptable to Lcnder und shall include a standt►rd mort�ano clnutA. Lender
<br /> shall have the right to ieold the policies and�enewuls. If Lender rcquires,Dormwer shall prnmptly Eivo t�I.ende��nll tr,aipts�f
<br /> pud premiums a►id renewal noticcs.in the event ai Soss,i3onvwer shall give prompt notic�to the i�isur.tn�ca�rinr and I.encicr.
<br /> Lender may make prnof��;lnss if not m�de pro�nptly by Bonawer.
<br /> Unlcss L.ender and Borruwer othenvisE�,,rr�e in writing, insurnnce pmcceds shall be appliad to n;st�mli�n ar rcpcir n!tht+
<br /> l�raperty damaged,iP che restoration or repair is economically fcasible and Lender's security is not Ies:�nrRt.IF tiio restorltimi or
<br /> repair is�ot economically fe�siblc or I.ender's,ocurity would be Icssenr.d,the insurancc pra�ecds slinll bc npplied to tiie sums
<br /> secured by this 3ecurity Instrument, whether or not then dae, with any cxcess p:►id to Aorrawcr. lf Aorrrnvec nbundons the
<br /> Pm�eiKy, or does not nnswer within 30 doys a natice f'ram I..ender thui ttte insurunce carrice has afFered to settle n ciuiut, then
<br /> [.ender may collect the insurunce proccals. I.ender mny use the proceeds to repnir or restnre dio ProPerty �tr lu pay sums
<br /> securecl by this Securtty Instrun�cnt,whether or not then duc.TI►c 3Q•day perind will begin wiun ti�e nolice Is glven.
<br /> Unless I.endcr �►nd Barrowcr otherwisc ugrcc in writing, any nppUciuicm of prcxceds ta princ+pal sliall not cxtcnd ar
<br /> pc�st�nc thc duc datc of the ntonthly pay�ments referreJ ta in para�;ri+phs i +md 2 or chnngc: che um��unt of the Nuymer.ts. If
<br /> undcr parngraph 21 thc Pmpcity is ncyuircd by Lendcr, [iorrowcr's rigiit to nny insuruncc policics nnd prcxcais resultfng from
<br /> d�muge tc�the Property prior ta tiie acquisition ehnli pnss ta I..ender t�the extent aF the sums secured by this Securfty Instrument
<br /> immediately prior to tltc acqulsition.
<br /> 6.Occu�ancy,f'rescrvetlr.n,MaintenAnco end Protectton oY thr,Property; Borrower's�Loan Applicaticut;I.eASeholdsi.
<br /> Borrower shall accupy, establish,and use the Property as Borrower's principal residence within sixt3�duys ufter the execution of
<br /> this Security Instrurrient and shull cantinue to occupy the Property as Banower's principal rcsidence,for at least ona year after
<br /> the date af occupancy, unless I,cnder otherwise agrees in writing, which wnsent shall not be wireasr�nubly withfteld. or unless
<br /> extenuating circumstances exist whtch are beyond Borrower's cuntrol. Horrower shall not destroy, dumage or impair the
<br /> Property, ullow thc Protserty to detcriorate. or comm3t waste on the Property. Borrower shall I�e in default i�any forfelture
<br /> action or prooeeding, whether civil or criminal, is begun that in Lendet's goad faith juclgment wuld result in 4'orfeiture of the
<br /> P����� �wh�n��i��m�tnr:oll�i.qlin,�i�tho linn�rpr�tP�1 h�rhic Security Instrument ar Lendsr's security interest. �Ofl'OWCP Illtt]/ _
<br /> cure such a default and eeinstate,us providecl in paragraph 18,by causing the uction or proceeding to bc dismissed with a c�+ling
<br /> that. in Lender's good faith determination, precludes forfeiture of the Horrower's interest in ths Properiy or othcr muterial
<br /> impairment of thc llen created by this Security Instrument or Lender's securlty interest. Borro�ver shall also be in default i�f
<br /> Boreower,during the loan application process,guve mnterially fulse or inaccurate infarmation or statements to Lender(or failed
<br /> to provide L.ender with any material information)in wnnection with the loan evidenced by the Note,including. but not limited
<br /> to,represen¢ati,�ns concerning Bonower's occupuncy of the Propeny�s a principgl re.cidence. If this Security Instrunient is on a
<br /> leusehold, Borrower shall comply with �l! the provisions of the leuse. If Borrawor acquires fee titic to thc Pro�rty. thc
<br /> t2asehald and the fec title sh111 not mergc unless Lender agrecs to the merger in writing.
<br /> T.Prote�tton oP I.endei�'s Rigt�ts in the Property.If Borrowcr fnils to perform thc covenants and ngrcemnn�s containcd in
<br /> this 5ecuricy Instrument. or th�rc is u legal proceeding that may si�nificantly affect L.cnder's rigl�ts in the P�nparty (sueh as a
<br /> proceeding in bflnlcr�ptcy,prabate. far condemnation or forfeiture or tu eufarce laws or re�ulutions),then I.ender may do and
<br />� pay for whutever is necessary to protect the vnlue of the Property �nd I.ender's rights in the Propeny. Lender's uctions mny
<br /> include paying any sums se�:ured by a lien which has priority over this 5ecurity Instrumsnt, appearing ir, cQUCt, paying
<br /> reasonaoic attarneys iees ana entenng on ene Yropeny to maxe repmrs. nitt3ougi►i.ender may[aicc nction unaer�i�is paragmpi�
<br /> 7,�.ender doe.v not liave to do so. "
<br />! Any umounts disbursed by Lender under this pars�graph 7 shall become udditional debt of Aorrower secured by thBs
<br /> Security Instrument. Unlcss Borrowei•and Lencler ngree to oiher terms of payment,these amounts shnl!benr inteyest from the •
<br /> � date of disbursement at the Note rafe and ahall bc pTyablc, with latcr�t, upon notice from Lendcr to Bor,•ower nquesting
<br /> payment.
<br /> S.Mortgage I�surance.If Lender required mortga�e insurance as x conditian of making the loan secured by this Security
<br /> ' Instniment, Borrower shall pay the premiums required to maintain the mnrtgage insurance in effert. If, for any reason.tha
<br />_; mortgage insurnnce cavernge required by Lender lupses or ceases to be in effect,�orrower shall pay the premiums required to
<br /> obtain coverage substnntially equivalent to the mortgage insurance previously in effect,at a cost substantiutly equivalent to the
<br /> cost to Borrower of the mongage insuranr,e previously in effect, from an altern�te mortguge insurer approved by L.ender. If
<br /> substantially eyuivnlent mortgt►�e insurnncc;covera�e is not available,Borrower shnll pay to Lender each month a sum ecraal to
<br /> one-twelfd�of ihc yeariy mnrtguge insurance premium being paid by Borrowcr when the insurance coverage lapse�t or ceased to
<br /> be in effect. Lender will accept,use and retain these paymcnts as a loss reserve in lieu of moctgage insucance. Lflss reserve
<br /> , Form 3028 9/90
<br /> Pepe 3 ot 0
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