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<br />� �� S. Har.t►rd or Prnperty Insnrance. Barrowcr shall kecp thc improvcmcnts now existing on c�rcuftcr erectcd on the _
<br /> Property insurcd against Ioss hy fire, haznrds includcd within the�crm "extendecl rnvcragc" :ind any othcr harairds, including �
<br /> ' . floods or tlooding, for which L.endcr requirc5 insurancc. Th�s in�urunce shaU he muintuined in the umounts und for the periods
<br /> ::.�ar that Lender requires. The insurance cc+rrier prnviding the insurance shull be chosen by Borrower subject to Lender's approvul
<br /> '•� ' - which shull not be unreasonubly withheld. !f Borrnwer fuils tn maintain covcragc described abovc, Lcndcr muy, ut [..endcr's
<br /> option,abtain coverage to protect Lender's rights in tlie Property in uccordunee with paragraph 7. —
<br /> _ All insurance policies and renewals shall be acceptable to Lender und shaU include a standard mortga�e clause. L.ender �
<br /> � � shall havc the right to hold th�policics and renewals. If Lender requires,Harrowcr shull promptly give ta l.ender all reccipts of �
<br /> puid premiums und renewal notices.In the event af loss.Bormwer shull give prompt notice to thc insurancc carricr and L.ender. .6'
<br /> � . Lcnder may make proaf af loss if not made promptly by Borrower. �
<br /> -:`.r:..; .. Unless L.ender and Borrower otherwise agree in writing,insurancc procecds shall be applied to restoration or repair of the �;
<br /> ', ' • Propeny damaged,if tht restoration or repair is economically fcusible and Lender's security is not lessened. If the restorution or —
<br /> :.�.+:. ;�,�ti'" repuir is not economicullv feasibte or L.ender's security would be Iessened, the insurance proceeds shall be upplied to the sums --
<br />`""'`":�'�� sccu�red by this Securiry Instrument,whether or nat then due, with any excess paid to Borrawcr. If Borrower abandons the
<br /> - . ' Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim,then =.
<br />�Y..�;��;,., ' Lender may collect the insurance proceeds. I,ender may use the prace,�ds ta repair or restore the Property or to pny sums "`
<br />` • .-• securcd by this Security Instrument,�vhether or not then due.Thc 30-day period wiU begin whsn the notice is given.
<br /> � Unless Lender and Borrower othenvise agree in writing, m�y application of proceeds to principal shall not ext�nd or �'
<br /> .��}r;
<br />"i'`:�:"'•,;� postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender, Borro�ver's right to nny insurance policies and proceeds resulting from -
<br />_-^�r�f�� damage to the Praperty prior to the ucquisition,hall pass to L.ender to the extent of the sums secured by this Securiry Instrument
<br />:,:,7rr;
<br /> immediately prior to the acquisition.
<br />--=`:a�,�■, 6.Occupuncy,Pr�servation, Matntennnce and Protection oPthe Aroperty;Borrower's Loan Appltcutlon; I.easeholds.
<br /> _•'�,'�L� Borrower shall occupy,establish,and use d�e Property as Borrower's principal�sidence within sixty dnys after the execution uf
<br />- _.-_=g:.�;,�
<br />-�:_�� this Securiry Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> �'"`"`� il��e.�ate oi.wcuNarcy.ar�lus Lc,ndc�aihcr.:•i�e;.g:�s:n::�ri:iab. .�hi:"�anw.nt�ha:!zot��ur.r,��a^atsl� �:ihhcld, ar uzl�ss
<br /> _,__ extenusting circumstances exist which are beyond Borrower's control. Borro�ver shall not destroy, damage or impair the
<br /> --=_-v�m�� Property, allow the Properry to dererioratc, or commit waste on the Property. Borrowcr shall be in default if any forfciture
<br /> ____,�'� action or procecding. whether civil or criminal, is begun that i� Lender's good faith judgment could result in forfeiture of the
<br /> Property or othenvise materially impuir the lien created by this Security Instrument or Lender's securiry interest. Borroaer may
<br /> -- , cure sach a default and reinstate,a.s provided in paragraph 18,by causing the action or procecding to be dismissed with a ruling
<br /> - that, in Lender's good falth determination, precludes forfeiturc of the Borrower's interest in the Property or other material
<br /> --- impairment of the lien created by this Secutity Instrument or L.ender's security interest. Barcower shall also be in default if
<br /> -"=� Borrower,during the loan application process,gave materialiy false or inuccumte information or statements to Lender(or failed
<br /> �__� to provide Lender with any material information) in connection with the loun evidcnced by the IVote,including,but not limited
<br /> �� to,repcesentations concerning Borrower's occupancy of the Property as a principal eesidence.If diis Security Instrument is on a
<br /> leusehold, Borrower shall comply with all the provisions of the lease. If Bonower acquires fee title to the Propeny, ¢he
<br /> Icaschold and the fee title shall not mergc unless Lender agrees to the mcrger in writing.
<br /> 7.Protectton of Lender's Rights in the Property.If Borrowcr fails to perform the covenants:u�d agrecments contained in
<br /> this Security Instrument, or there is a legal procecding that may significantly affect Lender's righis in the Property (sucfi ns a
<br /> proceeding in bankruptcy, probate. for condemnation or forfciturc or to enforcc luws or regulatians),then Lender may do and
<br /> � pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's nctions muy
<br /> - include paying any sums sccured by a lien +vliich has priority over this Security Instrument, appearing iu court, payin,�
<br /> --"`'� . ��easonable attomeys' fees and entering on the Property to makc repairs.Although Lendcr may take action under 4his paragraph
<br /> 7,Lender does not have to do so.
<br /> ' Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower secured by this
<br /> Security Instrument. Unless Borrower and Lendcr:�grc;c to other rerms of payment, these amaunt� shall bear interest from the
<br /> date of disbursement at the Note rt�te and shall be paypble, with interest, upon notice from Lender to Borrowcr requcsting
<br /> � payment.
<br /> 8.Mortgage Insurance.If I.endcr required mongage insurance as a condition of making the loan secueed by this Suurity
<br /> _��-� Instrument, Borrower shall pay the premiums requircd to maint,lin the mongage insurancc in effect, If, for any reason, the
<br /> ___- mortgage insurance coveragc rcquired by Lender lapses or ceases to be in effect, Bon•ower shall pay the premiums required to
<br /> — obtain r,overage substantially equivalent to the mortgu�e insurance previously in effect,at a cost substantially equivalent to the
<br /> �"� - cost to Banower of the mortgage insurancc previously in cffcct, from an altcrnatc mortgage insurer appmved by Lendcr. If
<br /> v y�-�� substantially equivalent mongage insurance coverage is not available, Borrower shall pay to Lender e��ch month a sum equal to
<br /> '���. ' one-twelfth of die ye:srly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> i`a:�� be in cffect.Lender will accept,use and retain these payments as a loss rescrve in licu of mort�xge insurance. Loss reserve
<br /> �-':�`l�t-:�. Form 3028 9/90 _
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