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<br /> S. Hauird or Praperty insurunce. Borrowcr shall kecp thc i!nprovcmcntti no�v existing un c�rcuftcr crcctcd un thc
<br /> � Praperty insured against loss by firc, hazards includcd within thc tcrm "cxtendcd covcragc" und any��tl�cr hazurJs, including
<br /> n�����ti�,�� n����s���b, fur tivhich Lcndcr rcquires insurancc. This insurancc shall bc maint:iincd in thc«mnuntti nnd for thc peri��dx ,
<br /> � that l.ender reyuires. The imurunce carrier providing the insurancc shull bc chosen by Borrower tiuhject to L.ender's approval
<br /> -' which tihall not be unreasonubly withheld. If Borrower fails to muintuin coveruge described ubove, i.ender may, ut l.ender's _
<br /> ,,� '�`.'�;-_
<br />_'"'-.�� aption,obtain coverage to protect I.ender's rights in the Property in uccordunce with paragraph 7. _
<br /> ;. All insurance pnlicics ;tnd rencwals shall be acceptable to L^.nder and shaU include a stundard mongngc clnuse. Lender
<br />__ .��-� shall havc the right ta hold the policics and renewnls. If Lender requires.Borrower shall promptly givc to l.cnder ull receipts of =
<br /> - paid premiums and renew:�l noticcc.In the event of loss.Horrower shall give prompt nutice to the insurance carrier and Lender. �
<br /> �.
<br />-.� . � l.ender may make praof of loss if not madc prampdy by Bnrrower. -
<br /> . ' Unless Lendce and Borrower otherwise agree in writing, insurnnce procceds shall bc upplied to restoration or repair of the =
<br />- Property damageJ, if the restoration or repair is economically feasible and L.ender's security is not lessened. lf the resWration or =
<br /> �:;,�;,� • repair is not cconotnicaUy feasible or Lr:nder's security would be lessened. thc insurance proceeds shall be upplied to the sums =-
<br />==•°�;s:<��y sccured by this Sccuriry Instrumcnt, whether or not then due, with any cxcess paid to Borrower. lf Borrower abandans th� -
<br />-":.'::.'t'`i?� :. Property, or docs not answer within 30 duys a notice from Lender that the insurnnce cnn•ier has offered to setde a cluim, then -..
<br />_?;��s�.a�, Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property ur tu pay sums °
<br /> �°j,�r�f1:�'s. � secured by this Security lnstrument,whe[her or not then due.The 30-day period wiU be�;in when the notice is given. -
<br /> .;,evrr���c�,,.
<br /> Unless Lender and Bonower otherwise agrec in writing, any application of proceeds to principal shall not extend or _
<br />—���ii;v postpone thc due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of thc payments. If -
<br /> ,� �.-';i.� under parugraph Z1 the Propeny is acquired by Lender, Bonower's right to any insurance policies and praceeds resulting from
<br />-=y rx�� damage ro the Propeny prior to thc acquisition shall pass to Lender to the extent of the sums sccured by this Security Instrument -
<br /> ._-_��`:�� immedistcly prior ta�hc acquisition,
<br /> __,_.,L;;� • 6.Occupuncy, Preservntion,Maintenance and Protection of the Property; 8orrower's Loan Application;Y.easeholds.
<br /> "-- • Borrower shall occupy,establish,and use the Property a5 Borrower's principal residence within sixty dnys after the execution of
<br /> --- — this Security Instrumcnt und shall continue to occupy the Property ris BoROwer's principal residence for at least one year after
<br />�,;j;� the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not br,unreasonably withheld, or unless
<br /> extenuatit�g circumscances exisc whiah urc oryund Burrowc�'� cu�dwi. Suiiuwci �i�ui� tiul a�cSiiuy, dartta�:: �r impait i.'t:,
<br /> �� Property, atlow the Property ta dcteriorute, or commit waste on the Prape�ty. Borrower shall be ln default if any forfeiture
<br /> "-"� action or procee<ling,whether civil or criminal. is begun that in Lender's good faith jud�ment could result in forfeiture of the
<br /> -�:",���- Property or otherwise materially impair the lien created by this Securiry Instrument or Lender's secueity interest. Horrower mfly
<br /> cure such a default and reinstate.as provided in paragraph 18, by causing the action or proceeding to be dismissed with a rulfng
<br /> • that. in Lender's good fnith determination, precludes forfeiture of the Borrower's interest in the Property or other material
<br /> impairment of the lien created by this Security Instru�nent or Lender's security interest. Borrower shall also be in default if
<br /> � Borrower,during the loan application process,gave materially false or inaccurate information or statements to Lender(or failed
<br /> to provide Lender with any materinl information)in connection with die loan evidenced by the Note, including, but not litnited
<br /> —� to,repmsentations concerning Borrower's occupancy of the Property us a principal residence.Ii this Securlty Instrument is on a
<br /> leasehold, Borrowcr shall comply with all the provisions of the leasc. if BonowEr acquims fec title to thc Property, the
<br /> � lcasehold and the fee title sh:�ll not merge unless Lendcr agrees ta the merger in writing.
<br /> , 7.Pratectton of Lender's Rlghts(n the Property.If Borrower fails to perforn�the covenants and ugreemenu containe.�i in
<br /> . this Security Instrument, or there is a legAl procee,�ing that muy significantly affect Lender's rights in the Property (such sts a
<br /> proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulatians),then Lender may do and
<br /> pay for wnatever is necessary to protect the vnlue of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums secured by n lien which has priority over this Security Instrument, appearins in court, puying
<br /> - rcu�onable uttorneys'fees and entering on the Property to make repuirs. Alrhough Lendcr may take act9on undcr this paragraph
<br /> 7,Lender dces not have to do so.
<br /> Any amounts disbursed by [.ender under this paragraph 7 shall become additional debt of Horrower secured by this
<br /> Security Instn►ment. Unless Bonower and Lxnder agree to other terms of payment,thesc amounts shall bear interest from the
<br /> date of disbursemcnt at the Notc rate and shnll be payable, with interest, upon notice from I.ender to Borrower requesting
<br /> paymcnt.
<br /> 8.Ma7gage Insurence.If I.ender required mortgage insurance s+s a condition of making the loan secured by this Security .
<br /> Instrument, Borcower shall pay tl�c premiums required to maintain the mortgage insurance in effect. If, for nny reason, the _
<br /> ---___— mortgagc insurance wvcragc required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to
<br /> �-,___ obtAin coverage substantially equivalent to the mongage insurance previously in effect, at u cost substantiully equivalent ta the
<br /> __ - cost ta Borro�ver of the mortgage insurance previously in effect. from nn altemate mortgage insurer approved by Lender. If
<br /> --9"� substantiully equivalent mortgnge insurance covemge is not availublc.Borrower shall nay to I.ender each month a sum equal to
<br /> J-`-� one-twelfth of the yearly mortgage insurartce premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> -'�'--= � be in effect.Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> — ' Fdrm 3028 9190
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