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<br /> LOAN NO. 9769903 _�;,�w_
<br /> Rorrowcr shaU promptly dischargc nny Ilcn which hus p�iorlty ovcr this Sccurity Instrumcnt unlcss Bonawer. (n? �'��+.-�,
<br /> agrees ln writing ro the payment of thc obligatfon secured by thc lien ln a ma�uier acceptable to L.ender;(b)contests in ,,
<br /> . good falth the licn by, or defcnds ngainst enfarcement of thc li.n in, legal proceedings which in thc Lendcr's apinlon .,;
<br /> operate to prevent the enforcement of thc Iicn;ar(c)secures from the holder of th�lien nn agreement satisfactury to :.1.�_
<br /> Lcnder subordinating the licn to this Sccurity Instrumcnt. If Lcnder determines that any part of thc Property is subjcct ___
<br /> . l.ender may give Borrower a notice identifying the lien.
<br /> s; t o a licn which ma y attain prloriry ovcr thiR Sccurity Instrament, _
<br /> • 8onowcr shall satisfy the Hen or take ane or more of the act ions set furt h a b ovc w i t h i n 1 0 d a y s o f t h e g i v i n g o f n o t icc. _
<br /> . �� ;� 5. f�usnrd or Property Insurnnce_ Borcowor shall kccp thc impravcmcnts now exiscing or hercaf'tcr crectcd on _
<br /> �n
<br /> �•, thc Property inqured egalnst loss by fire,hazards Included withtn the term'cxtcnded covcragc" and any ott�er hnzards,
<br /> ,��� including floods or floading, for whlcli Lender reyuiros lnsurnnce. This insurance shall be maintained in the arnounts
<br /> ; ,x, ti and for thc po�iods thnt L,endcr rcquires. Thc tnsurancc carrier providing che insurance sh111 be chosen by Bonower
<br /> � �• subject ta� l.ertder's approval which shall not be unreusonably withheld. lf Borrower fails to maintain coveragc
<br /> described abova, i.ender may, nt Lender's option, obtnin coverage to prctect I.ender's rights in the Property in
<br /> � � accordancc with paragraph 7.
<br /> All insurance pol(etes and renewals shall be acceptable to l.ender and shall include a standard morts��e toaLender .`_—
<br /> ' L.ender shnll huve the right to hold thc policies and renewals.lf Lender requires,Borrower shall promptly g' �,_
<br /> all receipts of paid premiums and renew a l not ices. In t h e e v e n t o f t o s s, B o r r o w e r s h a l l g i v c p rom pt notice to the
<br /> � • Insurance canier and Lender.Lendcr may make proof of loss if not made prornptly by Borrower.
<br /> � Unless l.ender nnd Bonower otherwise agree in writing, insurance praceeds shall be applied to restoration or �'.
<br />" repair af the Property damaged, if the restoration or repair is economically feasible and Lender's security ls not f��
<br /> • • lessened. If the restoratioit or repair ts not economiGally feasible or Lender's securicy would be lessened,the insurance
<br />�j' proceeds shall be applied to the sums secured by this Security instrument,whecher or not then due,wich any excess �
<br /> paid to Bonower. If Bonower ebandons thc Property,or does not a�iswer within 30 days a notice from Leiidcr that the
<br /> �' insurance carrler has offered to settle a claim, then L.ender may collect the insurance pra:eeds. L.ender may use the �,
<br /> � ., procceds to repair or restote the Property or to pay sums secured by this Security Instrument, whether or not then _
<br />-• c due.The 30-day period will begin when the notice is given.
<br />' ' Unless[.ender and Bonower otherwise agree in wdting,a�iy application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or cha��ge the amount of the
<br />- � payments. If w�der paragraph 21 the Property is acqulred by I.ender,Bonower's right to any insurancc policics and
<br />• procecds resulting from dumagc to the Properry pr[or to the acquisition shall pass to Lender to the extent of the sums
<br /> �' secured by this Security Instrument immediately prior to the acquisition.
<br />-� 6. (kcup++�ncy, Preservetlon, Mafntenance And Protectlon ot tAe Property; Borrower's I.oan AppBcation;
<br />--�• � Leasehnldv. Bonovrer shull occupy, establish,and use the Fropeny as Borrower's principal residence within sixty
<br /> ^ ' days ufter the exec�tion of this Security Instrument arid shall conttnue to occupy the Properry as Bonower's principal
<br /> ---- -__-- residencc£or ai 1ea�i or.e yF�r:<fIt'r thr date of occupancy,unless I.ender otherwise agrces in wrlting,which consent .
<br /> shall not be unreasonably withheld, or unless extenuating circumstances exist which aze beyond bonower's contru2.
<br /> � Bonower shall not destroy,damage or impair tha Property,allow the Propeny co deteriorate,or commit waste on the
<br /> " Property. Bonower shall be in default if any forfeiture action or proceeding,whether civil or criminal, ts begun that in
<br />- . Lender's good faith judgment could result in forfeiture of the Property or othenvise matcrially impair the lien created by
<br />- . this Securiry Instrumenc or Lender's securicy interest. B�nower may cure such a default and reinstate, as provided in
<br /> paragraph 18, by causing the action or proceeding to be dismissed with a r�ling that, in Lender's good faith
<br /> detcrmination, precludes forfeiture of the Borrower's interest in the Praperty or other matertal impairment of the lien
<br /> � created by this Secur[ry Instrument or Lender's security interest. Bonower shall also be in default if Borrower,during
<br /> � • � the loazi application pracess, gave materially false or inaccurate information or statements to Lender (or failed to
<br /> �- ' " � provide Lender with any material information)in connection with the loan evideaced by the Note, including, but not
<br /> Y '� limited to, representations concerning Borrower's occupancy of the Property as a principal residence.If this Security
<br />���� � ' Instrument is�n a leasehold, Bonower shall comply with all the provisions of the lease.If Borrawer acquins fee title to
<br /> i;;��.f;5: '`�,� the Propeny,the leasehold and che fee title shall not merge uniess I.ender agrees to the merger in wrlting.
<br /> . 7. Protect[on of Lender's�itghts In the Property. If Bonower fails to perform the covenants and agreements _ __
<br /> .. .,., contained in this Securlty lnstrument,or there is a Iegal pieceeding that may si�nificantly affect l.ender's dghts in the
<br /> Property (such as u proceeding in bankruptcy, probate, for condemnation or forfeituce or to enfotce laws or
<br /> ' regulations),then I.endee mAy do and pay for whatever is necessary to protQCt the value of the Propeny and Lcnder's
<br />-"' �. � rtghts in the Property. Lender's actions muy include paying any sums secured by a lien which has priority over this
<br />- . Securiry Instrument, appearing in court, paying reusonable attorneys' fees a�id entering on the Propeny to make _
<br /> - > repairs.Although Lender may take action under this paragraph 7,i.ender does not l�ave to do so.
<br />- :_ Any amounts disbursed by Lendcr under this pazagraph 7 shall become additional debt of Borrower secured by
<br />- this Security Instrument. Unless Borrower and I..cndcr agrce to other terms of payment, thesc amounts shall bear =
<br /> ' intcrest from[hc date of disbursement at the Note ratc and shall be payable. with interest,upon notice from Lender to
<br /> � k Borrower reque�ting payment. �'`
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<br />_ � �, �orm 3028 9/90 -
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