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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 94- :101872 <br /> r <br /> periods that Lender =,,uit'es. The iFwxtrice cmfic; rroviding the inswwce stall be chosen by Borrower %Ubyect to LOW"'!s <br /> apprmal w•h ich shall not be uruesumbly withheld. If Bonveer fails, to maintain coveragr descxr-W above. Lender may. at <br /> { Lenders oration, obWn coverags to protect Lender's rights in the Property in accordance with paragraph 7. <br /> All insurance policies and renewal% shall be acceptable to Lender and shall include a mandud mrrtg* clO.M. Lender <br /> shall have the right to hold the policies and renewals. If Lender mquir% Son wer shall promptly give to. Lender all receipts <br /> of !raid premiums read renewal notices. In the CVM of Waf, llatfraM" shall give prompt notice to the insunxrne carrier and <br /> i cVcr. Lender may nuke proof of loss if not made promspttly by Borrower. <br /> Unless Lender and Borrower otherwise agree in wrkkV, intwrarsce proceed, +hatl be applied to restoration or repair of <br /> the Pm "y dtrnagec'.. if the restoration or impair is; ecanomicarry feasible acrd Lender's seenriry is not lessened. If :tie <br /> restoration or rcpMair is rear ccorootniitcally feasible or Leiden security would be lessenerl the insurance proccc%h ",I be <br /> applied to tltc sums secured h} this Security Instni ment, whether of not the" due, tx^itht any excess paid to Borrowtr. If • <br /> ~omiw•cr itbarWons the Property. or da% not answe: within 30 duy,s a mmice frortr Lend" that the ittsurar" carrier has <br /> ofle•Yd try settle a claim; that Lender may collect the hiananre procceds.. Lcrde7r may use the pr7tvt4h to repair rw, ►»-sore <br /> t`w P-ry+c-ty or to prey rtumis aaatutcd by ft's Security Inttru,•tte;nt, whether or not then due. The Xklay r4riad will tegin when <br /> the ncxire i+ given. <br /> Unless Lender and Bomrmxwtr othe wiat *Vm in writing, asst' application of procred% to P.-hwipal shall rest extend Of <br /> postpone the .fur. date of the monthly paryr retilts mfcnvd to In paxrgtnoxA i and 2 m chatir, the airnotmt of the payment'. If <br /> undtx paragraph 21 the. property k acquired by Lender. Sommers right to any imurancc poticks and proceeds recanting <br /> from damage to the Prc7pcsty prior to the acquisition shall pass to Lender to the ttoxw of Pie smts P-vmvd by this Security <br /> inst_wrnm1 inimcdnateiv rrios to the ac+q kwion. <br /> fi. thcuprsancr, Prtserratiart, 3laltatenswc+e and Protection of the Pnapeetyr; Betao"W% Loan Application; <br /> Leaseholds. Bommr: shall occupy, establish, and user the Property as Bommers principal fekidence within sixty days after <br /> the execution oaf this Security lostrurnern and shall co-inue to occupy the Property as Borrowers principal rexidcrxe for at <br /> least crrr" year aftc: the date of occupancy, untes_s Lender othemiyx agrees in writing, which consent shall not 6e <br /> unrta,,.onably withheld. • r unless extenuating cim,m Kutoces exist which are beyond Borrowers control. Borrower shalt not <br /> dext<^oy. dar,age or impair the Property. allow the r'tcepeny to detericerie, or coamfit waste on the Property- Borrower shall <br /> be in dcfaWi if any forfeiture action cw protxeding. sAtrcdcrcivil or critnrsal. is begun that in Lradeei good faith judgmuert <br /> could rmult in forfeiture of the Property or :„txrwi_se materially impair the lien creased by tLis Security Instrument <br /> Lenders security intcrr. ° Borrower rruy came such a default and minstate. as provided in paragraph 18. by causing the action <br /> or pros-^edinc to tx dismissed with a ruling that, in Lcr`krs good faith determination, preclude. forfeiture of the Bosmwrrs <br /> intemrst in the Property nr otter material inilssirnennt of the lien created by this Security Instrument or Leader's security <br /> intertst. Borrower shah also be, in default if Bormwrr, during the Ivan application process, gave materially false or <br /> inarcM..uratc inforrimtion or stme vents to Larder (or failed to provide Lender with any nat•.eriaal information) ii. connection with <br /> the ',oast evidenced by the Note, including, but not linnted to. represcrrtirtit is ccraccrning EtorioVWX occupancy of the <br /> Pivt,triy as a prtctpal residence. If this Security Insimnrent is on a karsthold. Borrovmr'shall comply with all the provisions <br /> of it c lease, if 8orm%rr acquires fee, title to the Property. the kawhold and die fee title shall not mt•rgr unless Lcrmkr agrees <br /> to the merger in w'riiing. <br /> 7. Protection or Lender`% Nights In the P'rgwrtyt If Borrower fails to patrfa^m ttnc coovcmnt% and agreements <br /> conwai:rtt in this Sccurily (rstnimctnir. cc t1` tr. is a legal proceeding that may sigriiraeantly affect Leaden rights in the <br /> Pro,'Nerty (ra^ch as a prvxerdiing in banktuptey. probwe. for condenunstioon or forfeiture or to enforce laws, or rcgulatio ms). then <br /> Lcrdcr :n+y do and pay for whweva is accessary to p"e t the value of the Roperty and Leodcr i rights in the Property. <br /> Loaders actie ns may include pthy'ing any waismcured bye a lien which has ipricrityr over this Security Instrument. appearing <br /> in court, paying masonab!e aetrrrrcys' fc.s acrd entering or the Property to choke repairs. Ahbough Lender may take action <br /> under this paragraph e, Lender dm-,, not have to do so. <br /> e nv amcwnts disbur%ed by LerAcr under this paragraph 7 shall bcco.rse add:rticx---l deltic of Barrowtr sccumed by this <br /> Security Instrumm,,, Unless BdurDacr amid Lender egive to dher tarots ~'payttrent. these aatrvurttx shall bear interau fntxrr the <br /> d=c of disburscment at the. !Vote rate and shall be payable. with intcmmt upon notice from tender to flo rower requesting <br /> Payrreent. <br /> & 1slortga Incurance. If Lcn,der. required tno vigr insurance w a condition of snaking the loan secured by this <br /> Security l;'siruplent, B!wrower shatlt pay the, premiums required to maintains the mortgage insurance in effect If, for any <br /> reason, the mongage inwrarrce covempe required by Lender lapses or ceases to be in effect. Borrower shall pay the <br /> premiums inquired to obtain coverage substantially equivalent to the mortgage instma'ance previously in effect, at a cost <br /> sutut:rntiailr equi:alent to the cast to Borrower of the mortgage innavoc-c previously in ecffeM from an alter W mortgage <br /> insurer approved by Lender. If subuartially equivalent mortgage insaaaame coverage is not available. Borrower shall pay to <br /> Lender each month a sum equal to are-twelfth of tine yearly mortgage iaistmmm premium being paid by Borrower when the <br /> insurance coverage lapsed or ceased to be in effect Lender will accept, use and retain thew payments as a (osx reftlw in lieu <br /> of mortgage irmrance. h..v s. reserve payinenes may no lon@m be required, at die option of Leader, if mortgage insurance <br /> coverage (in the mr2aunt anti for the period that Lender nViires) provided by an i nsrmar approved by Lender again becomes <br /> available and is obtained. Boot war shall pay the prerniumax required to tstainta in mortgage insurance in effect, or to provide a <br /> iocs reserve, until the requirtmerst for m orgV4e iaissr woe ends in accordance with any wrhkn agreement between Borrower <br /> and Lender or applicable law. <br /> 9. Inspecikm Lend-r or its agent may make rrasanable entries r.ptxa and inspertiaes of the Property. Lender shall <br /> give fir*xr~w cr notice at the tirrr of at prior to an iWPCCfiM spWifying 11^...t' 50FO le cause for lase irMXection. <br /> 18 Coodemmflon- Th-z proceeds of any, award or claim for dame rtm detect or Mist, in cordw%-tion wr::h any <br /> S%Wk F==I) F=We \taid~ Mae L,WOR+M t-`MUL'stOCT tPandeero CawC nnft WOO rota 3 nf#5 Friers) <br /> am rases tMMM VOeaa tsc a <br /> m fMW CWk 1 ~&W~7ir M 0 FAX M793-1131 <br />