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2� 1 ��731 �
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<br /> �mounts s�aH bear intere.st at the IVoce rate from t�ze date❑f disbursemeni and sha�j be payable,with su�h interesl,
<br /> �pon r�otice frorn Lcnder lo Borrow�r requesting payment.
<br /> Al! insurancc po�icies required by Lcndcr and renewals af stich pvEicics s�tal�bc Sub�eCt�v Lender's right to
<br /> disapprove such policies,shnll inciude a stt�n�ard mvrtgag�c�au,5e,and shall ndrne Lcnder as mortgagee andlvr us�n
<br /> Additianal loss payee. Lendcr shall have the right to hnld the pc�ficies and reneu�al certific�tes. If'Lenr�er requires,
<br /> garrower shali prvrnptty gi�e to Lendcr all rcceipts vf�aid pr�rn�urns ancf renew��nvtices. �f Bvrrower obta�ns 3ny
<br /> �orm af insurance covera�e,no�vtherwise required by Lendcr,far damagc to,nr destr�ctivn o�',�he Pra�erty, suclz
<br /> palicy s��all includc a st�xiard mvrtgage c3au.�c and si�al�name Lender�s martge�gee andJor as a�additiana! iass
<br /> �ayee.
<br /> In thc��+�cnt aF�ass.Borrawer shal�gi�e prompt notice ta the insurance�nrrier and Lcndcr. Lendcr mAy rnake
<br /> . prUof vf lnss if nvt m�de prornptly by BorrowGr. Unicss Lcndcr and Bvrra►ver athcrwist��ree in writing, �ny
<br /> insurance prareeds,whether or not the underlying insurance�va.�required by Lendcr,�hall be a�rplied to res�aration
<br /> or repair vt'the P�raperty,if the restoratian or rep�ir is ecanom�c�[�y fe.�sib�e and Lender's�ecurity is not lesscnc�d.
<br /> During such r���ir and restnration period,Lender�ha�I have the righf Eo ho�d such insurance proceeds untif Lender
<br /> h�.S had an❑ppnrtun ity tn inspect such Prop�rty to en.sure the wark h�s bcen com}�lcled to Lender's sati�faction,
<br /> provided th:it surh ins�ection �hall bc unc�eriukcn prc�mptfy. Lender may disburse procecd�for the repairs and
<br /> restoracion in a single payment or in a series of progress payments ar.s Il�c work is campleted, Unless an Agreement
<br /> is made in�vr�ting�r AQpiicable Law requires interest lo b�p�id on such insurance�roceed�, I.cnder shall not he
<br /> r�quircd iu pay Bvsrowtr any interest�r carnings vn sucti prviceeds. �t�s�'ar publi�ad,�usters,or ather tlZtrd partie�,
<br /> ret�incd by Bc�rrawcr sE7��1 nvi�e paid ou[af thc insurance prvicecd��nd sh�►ll b�thc so�e obligation of Borrower.
<br /> 1�'thc restoratton or repaEir is not economic�ly�e�siblc ar Lendcr's security wo�td be lesscncd,thc insuruRcc proccecls
<br /> s�a�l bc a�lied to the sums sccurcd by this 5ocurity Instrumcnt,wheth�r vr not thcn dUc,with th�excess,if'any,�aid
<br /> [o Borrawer. Such in.tiurnncc procceds shaii bc�pplicd in��c ardcr pro�ided�or in SecEion 2.
<br /> It'Borraw�r ahandons��Praperty, Lender may fiie, negvtiat,e aric�settle:�ny a�ailahle insurance claim and
<br /> related m�u�rs. If I3arrvwer does nvt resp�nd wttliin 30 days to a no�ice�rvm Lender tha!the insurance carrier has
<br /> affercd to sct[le�c��im, chen Lencler mdy negol�aEe ar:d sc�ttle t�ic cl�iRi. 'n�e 30-day p�riod will begin when the
<br /> notice is gi�en. In eithcr c�cni.❑r i�I.endcr arquires the Property�nder Sc�ction??o�othcrwisc, Borrv�vcr hereby
<br /> �.�signs io Lender ta}Barrawer's r�gttils to any insur�nc�prviceeds�n an amount not t❑excccd thc amounts unpaid
<br /> undcr�ie Nv�e vr this Security Instrumen�,and(b�any ather of Borrawer's rigltits(alher�han the right�v any refund
<br /> ❑F unearnc�premiumti paid by Bvrrvwec)under all in.surance palicies cv�ering[t�e Property, in.ti�Far a�su�h rightb
<br /> are appiicahlc to the cover�ge of the Prvperty. Lender rnay u5e the insurunce pra�e�ds either ta repair or restvre thc
<br /> ProRcrty or to nny arnaunts un�aid under t��e I�Iole ar this 5ecurity[nstrument, whether or not then duc.
<br /> �. �ccuparx�y. Horrowcr shnll occupy, est�b�ish, und�sc tl�c Pro{�erty as Borrower's principal residcr�ce
<br /> wi�iin 6D d�ys a�ter the exccution❑f this 5ec�rity In�ment and sh311 continue to nccu�y the Pro�erty�s BorrowCr s
<br /> prinrip�i residence�'or at lease ane year��tcr the date o�nccu��ncy,un�css Lendcr❑thcr�vise agr�s in writing,which
<br /> cansc:nt�hall nac be unrcasonably wit�ihetd,or unles.�extcnuating circumctnnces exist which are heynnd Borrowcr's
<br /> con�rol,
<br /> 7. P'rescn►at�on,Maintenance and Prate�ct�on of t�e�'roperty;Inspections. Borrvwer shall not dcstroy,
<br /> damagc ar tmp�ir the Praperty,allvw the Prop�rty to dcteriarate or cvmmit w�tc on th�Property. Whe�her a3r not
<br /> Barrower is residing in thc Property, Borrower s�a�l rnaintain lhe Properiy in order tv prcv�nt t�ie Praperty f'ram ,
<br /> deteriorating or de�r�a,s�ng:n��luc due to its conditivn. Un�ess it is determined pursuant to 5ectivn 5 th�t re�air or
<br /> r�titor�tion ts no�econvrnicxlly#'ea.�ibl�, Barrower sha�l promptly repair the Property if d�m�ged to a�vid furtl�cr
<br /> eie[eriorution or d�uttagc. IF insuran�c or condemnativn praccc.�ds are pdid in cannection with damage to,�r lhc taking
<br /> of, lhe Property, Borrower shall bc respor�siblc:fur repairtng or restoring th�Praperty vnly i�'Lend�r has rel�ased
<br /> proceed�for surt�purpas��. Lcnder may disburse procced.s For the repairs and restorativn in a single pa}►men[ar ih
<br /> a s�ricti of progress�ym�n�.s as the work is campleted. I E'��e insurance❑r cand�rnnati�n�raceeds arc nat suFf icient
<br /> to repair ur rc:store the Property,�3arrower iti nvi relieved af Borrv�ver's ab��gation�or the com�letion o�suc�repair �
<br /> or restorat�on.
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<br /> N�HASK�-Single Family--�arx�ie A►laelFr�eddie Mac UN1FaRM lMSTRUMHYT p�����
<br /> FOrm 3028�lq1 Pag9 6 0� 1�1 www.dacmagic.avm �
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