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<br /> , gg` i�Q�s LOAN ID# 5560010619
<br /> Unlcss Lender and 8orrowcr othcnvise agrce m writing, any application of proceeds to principal shall not ezterxf or
<br /> postpone the due date of the monthly paymertts refcrred to in paragraphs I and 2 or change the amount of the payments. lf
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policEes and proceeds rcsultin� from
<br /> damage to the Fioperty prior to Ihe acquisition shail pass to Lender to the eztent of the sums secured by this Securiry
<br /> Tnswment immeJiately prior to the acquisitior..
<br /> 6.Occupancy, Preservation,rilaintenance and Protection of the Property;Borrower's I.oan Application; Leaseholds. Borrower
<br /> shall occupy, establish, and use the Property as Borrower's principal residence within sixry days after the exec�tion of this �
<br /> Securiq� Instrvment and shall continue to occupy the Pmperty as Borrower's principal residence for at least one year after the
<br /> date of occupancy, unless Lender otherwise agrees in writing, which conscnt shall not be unreasonably withheld, or unless
<br /> extenuatiog circums�ances exist which are oeyond Borrower's convol. Borrower>shall not destroy, damage or impair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Property. Bcrtower shall be in default if any forfeiture
<br /> action or proceeding, whether civil or crimi�al, �s bege�n that in Lender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materially impair the lien created by this Securiry IruWment or Ixnder's security interest. Borrower
<br /> may cure such a default and reiastate, as provided in paragraph 18, by causing the action or proceeding to be dis�missed with a ��
<br /> ruling that, in Lender's goocf faith determination, precludes forfeiture of the Bottower's interest in the Property or�other �
<br /> ma.erial impairment of the lien created by this Securiry Instrument or Lender's securiry interest. Borrower shall also be in
<br /> default if Borcower, during the loan application process, gave materially false or inaccurate information or statements to Ixnder
<br /> (or failed to provide I.ender with any material information) in connection with :he [oan evidenced by the Note, including, but
<br /> not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Securiry
<br /> Inswment is on a Ieasehuld, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the
<br /> Property, the leasehol� and the fee tide shall not merge unless L.ender agrees to the merger in writing.
<br /> 7.Prntection of Lender's Rights tn the Prog>erty. If Bonower fails to perform the covenants anc! agreements contained in this
<br /> Securiry Insuument, or there is a legal proceeding that may significantly affect Lencler's rights in the Property (such as a
<br /> proceeding in bankruptcy, probate, far condemnation or farfeiture or to enforce laws or regulations), �hen L.e�der may do and
<br /> pay for whatever is necessary to protect the value of the Property and L,ender's righu in the Property. Lender's actions may
<br /> inciude paying any sums secured by a lien which has prioriry over this Securiry instrument, appearing in court, paying
<br /> reaso*iable attorneys' fees and entering on che Property to make repairs. Althoub� i,e:!der may take action under this
<br /> paragraph 7, I,ender does not have to do so. `
<br /> Any amounts disbursed by Ixnder undzr this paragraph 7 shall become additional debt of Borrower secuted by this
<br /> Securic� Instrument. Unless Borro�ver and Lender agr°e to other terms of paymeni, these amounts shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable., with interest, upon notice from L.ender to Borrower requesting
<br /> payment.
<br /> 8.Mortgage Insurarece. If Lender required mortgage insurance as a concfition of making the loan secured hy this Securiry
<br /> Instrument, Borro:ver shall pay the premiums required to maintain the mortgage insurance in effect, 1f, for any reason, the
<br /> mort�age insurance �overage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to
<br /> obtain �overage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the
<br /> cost to Borcower of the martgage insurance previously in eft'ect, from an alternate mortgage insurer approved by i,ender. If
<br /> substantially equivalent mongage insurance coverage is not available, Borrower st�all pay to Lender each month a sum equal to
<br /> one twelfth of the yearly mongage insurance premium being paid by Borrower when the insurance coverage lapsed or ccased to
<br /> be in effect. J,ender wil! accept, use and retain these paymtnts as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> payment� may no longer be required, at the option of I.ender, if mortgage insurance coverage (in the amoant and for the
<br /> period that Lender requires) provided by an insurer approved by Lerx�er again becomes available and is obtained. Borrower
<br /> shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement
<br /> f�r mortgage insurance ends in �ccordance �vith any written agreement betwren Borrower and Lender or applicable law.
<br /> 9.Inspec6on. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give
<br /> Borrower noticc at the time of or prior to an inspeccion specifying reasonable cause for the inspection.
<br /> 10.Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> condemnation or otfier taking of any part of the Property, or for conveyance in lieu of condemnation, are her�by assigned and
<br /> shall be paid to L,ender.
<br /> In the event of a total taking of the Property, the prcceeds shall be applied to the s�cros secured by this Securry Instrument,
<br /> whether or not [hen due, with any excess paid to Borrower. In the event of a partial taking o£the Property in which the fair
<br /> market value of the Property immediately before the taAing is equal to or greater than ths amount of the �ums secured by this
<br /> Securify Instrument immediately before the taking, unless Bottower and Lender otherwise agree in writing, ihe sums secured by
<br /> this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total
<br /> arnount of the sums secured immediately before the taking, divided by (b) the fair market vaiue of the Property immeciiately
<br /> I befora the taking. Any balanca shall be paid to Borrowec In the evrnt ef a partial taking of the Property in which the fair
<br /> market value of the Property immediately before the taking is less than :.'se amauat of the sums secured immediately before the
<br /> I` taking, unless Borrower and Lender ocherwise agree in writing or unless applicable law othenvise provides, the proceeds shall
<br /> be applied to the sums secured by this Security Inswment whether or not the sums are then due.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower d�at the condemnor offers to malce an
<br /> award or settle a claim for damages, Aorcower fails to responcl to Lender within 30 days aker the date the noticc is given,
<br /> Lender is authorized to collcct and apply the proceeds, at its option, cither to rcstoration or repair of the Property or to thc
<br /> sums secured by this Security Instrument, whether or not then due. '
<br /> Unless I.ender and Borrower otherwise agree in writing, any application of proceeds to principal shall not cxtend or '
<br /> postpone the due date of the monthly payments rcferred to in p�ragraphs 1 and 2 or change tho amouns of such payments.
<br /> I1.Borrower Not Reles�sed; Forbearance By [xnder Not a Waiver. Extension of the time for payen�nt or modification of
<br /> amo�tization of the sums securcd by thi� Securiry Ir�strument granted by C,ender to any successor in interest of Borrower shall
<br /> not operatc to relcase the liabiliry of the original Borrower or k3orrower's successors in interesL Lender shall not be required to
<br /> commenec procredings a��inst ar�y successor in intcrest or refuse to extend time for payment or otherwise modify atnortization
<br /> of thc sums secured by this Sccuriey Instrument by reason of any drmand made by the ori6inal Borrower or Borrower's
<br /> su�cessors in interest. Any forbearance by Lencier in exercising any right or,remedy shall not be a waiver of o� preclude the
<br /> exercise of any right or remedy.
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<br /> NECM1UC-July 27,19�4 PaQe 3 of S
<br /> Dnc Prep Plu��Inc.
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