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<br /> S. !3��.,»r� o: °ro�':ty sez��u:�sr.�. F3Urrower sl�all kec� the improvements nrnv cxisting or hercaftce crccte on tlm
<br /> Property insured ugninst loss by fire, ha�rds included within thc term "extended covcragc" and any othcr haznrds, including
<br /> flouds or floadiug, fur which l,cndci•rcquirc,insurancc. Thir insur•rnre shall bc maintuincd in the umounts and for thc periods
<br /> thut Lender requires. The insurance rarrier providing the insurance shall be chosen by Bor�ower subject to Lender's uppmvul
<br /> which sh�ll nut bc unrcasonably withheld. If Borrmvcr fails to maintain covcragc dcscribed above, Lender may, at Lcnd�r's L
<br /> c�ption,obtain caverage to protect Lender's ribhts in the Property in accordunce wich pnrngruph 7.
<br /> All insurance policies and renewals shall 6e ucccptable to l..ender.►nd shnll include a standard mortga�;c cluuse. Lender
<br /> shall huve the righ[to hold thc policies and renewals. lf L.cnder requires, Borrower shall promptly give to l.cndcr all rc�ceipts of
<br /> paid premiums und renewul notices. In the event of loss,Borrawer shall give prompt notice to the insurance carrier and Leader.
<br /> Lcnder may make proof of loss if not made promptly by Borrovier. �
<br /> Unless Lender and Bonowcr otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the
<br /> Property damaged,if the restoration or repair is economically feusibie and Lender's security is not lessened.If the restoratiui�or
<br /> repair is not economically feasible or Lender's security would be lesserted,the insurance procceds shall be npplied to the�ums
<br /> secured by this Security Instrument, whethee or not then due, witls ;ury excess paid to Borrower. If Borrower abandons the
<br /> Propeny, or does not answer within 30 days a notice from Lender that the insuranee carrier has offered to settle a elaim, then
<br /> Lender may collect the insurance proceeds. Lender may use the proceeds to repair or resto�e the Propeny or to pay s�ims
<br /> secured by this Security Irnstrument, whether or not then due.The 30-day periad will begin w�hen the notice is�iven. -
<br /> Unless Lende* anA �orrower othenvise agree in writinF, any application of proceeds to principal shall not extend or
<br /> postpone the due date uf the monthly payments referred to in par�raphs 1 and 2 or chnnge the amount of the pa�ments. If
<br /> under parubraph 21 the Property is ucquirecl by Lender, Borrower's right to any insurance policies and praceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immediately prior to the ucquisition.
<br /> 6.Occupancy,PreservAtion,Ndaintenance und Protection of the Pruperty;Borrower's Loan Appficntion; Leaseholds.
<br /> Borrower shall occupy,establish,end use the Property us Bonower's principal�esidence within sixty days after the execution of
<br /> this Security Instrument and shall continue to occupy the Property As Borrower's principal residence for at least one year after
<br /> the date of occupancy,unless L.ender otherwise agrees in writing, which cmisem shall not be unreasunably withhald, oe�nlzss �
<br /> extenuating circumstancec exist which aie beyond Borrower's cantrol. Borrower shall not destroy, damage or impair the
<br /> Property, ullow the Property to deteriornte, or commit waste on the Property. Barrower shall be in default if uny forfeiture
<br /> arti�n nr nrnceedine. whether civil or crimis�al. is be�un that in Lender's�oad faith judgment could result in forfeiture of the
<br /> Property or othenvise materially impair the lien created by this Security Instrument or Lender's security interest.Bonower tnay
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with u ruling
<br /> that, in Lender's good faith detemtinntion, precludes forfeiture of the Borrower's interest in the Property or other materisl
<br /> impairment of the Iten created by this Security Instrument or I.ender's security interest. Borrower shall also be in default if _
<br /> Bonower,during the lonn application process,gave materially false or inaccurate information ar statements to Lcnder(or failed
<br />' to provide L.ender with any macerial information)in connection with the loan evidenced by the Note,including,but not limited
<br /> to, representatians concerning Borrower's occupancy of the Propeny ns a principal residence. If this Security Instrument is on a
<br /> leasebold, Borrower shall comply with all the provistons of the lease. If Borrower acquires fec title to the Property, the
<br /> lcasehold rsttd the fee title shall not merge unless Lender agrees to the me��cr in writing.
<br /> 7.Protectfon of Lender's ltlghts tn the Property.If Rorrower fails to perform the covenants and agrecments conutined in
<br /> this Security Instrument, or there is a legnl proceeding that may stgnificantly affect Lender's rights in the Property (such as a
<br /> proceeding in bunknaptcy, probate, for condemnntion or forfciture or to enforce laws or regulations).then I.ender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the PropekKy. I.ender's actions may
<br /> include paying any sum� securod by a lien which has priority over this Securi!y Instrument, appearing in caurt, paying
<br /> rcasonable attorncys' fees and entering on the Property to make repairs. Although I.ender may take action under this paragraph
<br /> 7, Leader dues not have tv do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower sec:ured by this
<br /> Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the
<br /> date of disbursement nt the Note rate cind shall be payable, with interest, upon notice froni Lender to Borrower requesting
<br /> payment.
<br /> 8.Mortgage Ynsuraa�ce. If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> Insuument, Borrower shall pay tlie premiums requirc:d to maintain the mortgage insurance in effect. If,for any reason, the
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shull pay the premiums required to
<br /> obtain coverage substnntially equivalent to ehe mortga�e insurance previously in effect, at a cost substantielly eyuivalent to the
<br /> cost to Bonowcr of the mortgagc insuranae previously in effect, from an alten�ate mortgage insurer approved by Lcndcr. If
<br /> substantially cyuivalent mongage insurance coverage is not available,Borcower shall pay to Lcnder each month u sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Bonower when the insurance coverage lapsed or ceased to
<br /> , be in effi;ct. Lender will acctpt.use and retain these payments as a loss rescrve in lieu of mortga�c insurancc. Loss r�eservc
<br /> Form 3028 8/90
<br /> Pego 3 of 8
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