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<br /> °�"'"�" — � r� perloda thut L.ender requires. Tha inaurance cartier providing the lnsumnce shnll Iw chosen by oirowcr�u ect to[.enderS� ���
<br /> i approval which ehall not be unreasonabty withheld. If Borruwet failR to mnintuin covemge descdbed above.I.endet may,at
<br /> , l.enderg optton,obtnin covera�e to protect Lenderl�dghts in the Property in uccordanco wlth puru�raph?.
<br /> ' � All insurance policies and renewala sholt be ucceptable to I.ender and shall include u standurd mortgago clauso. L.ender
<br /> � shall have the rlght to hold the policien and rertawels. If Lender requins,Borrower shnll pmmptly give to Lender all recelpts
<br /> . _.., ,. of paid premiume and renawul nuticea. In the event of toss,Borrower shall give prampt nadce to the insurnnce carder nnd �
<br /> ' ""' ' Lender. Lcnder may make proof of ioss If not msde prompily by Borrower.
<br /> � Unlesqa i,ender end BoTrower athenvise agree in wdting,insurar:ce procecds sh�ll be apgllcd to restoration or neppir of c
<br /> • � the Property dameged. if the restoradon or nepair is ecortomically feagiblo and Lenderk secudty ix nat les.rerted. If Ihe ___
<br /> ' � " �,.»�'� '�,'�.;�� restoration or repa�r is not ecanomically feasible or L.ender� securtty would be lcwrened.the lnaurance proceeda shall be —
<br /> . '"'`� �`� 'r',r�: applted to the sums secured b,y this Securiry Insuument, whethar or not then due.with eny excess paid to Horrower. If
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<br /> .����•'� • � � Borrower abandons the Property,or does not answer within 30 days a notice from l.ender that the inaurance carricsr has °—=-----
<br /> : :_•;k��:..': .: ,:�.:Y offemd w settle a claim,then Lender may coltect the insurance proceeds. Lender may use the proceeds to repnir or restore ��_-�•=—--�
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<br /> :�.�,.7,,�I`:. ��.,�, the Property or ta pay sums secu[ed by thts Security lnsnument.whether or not then dua The 30�day pedod will begin when �..-- -- --
<br /> ,,,,.; ., . the nottce is given. �`
<br /> .,��.. ., . n �^^;�.�,�.x,-���_.
<br /> ��,• . ;�, Unless Lender and BoROwer otherwise agree In wrlting, any appltcation of proceeds to princlpul shall not extend or ----____--
<br /> l ,; � pastpone the due date of the monthly payments refemed to in parasraphs t and 2 ar chan�e the umount of thc paym�nta. If _�a�[�.;,.
<br /> � � • under paragraph 21 the Property ls acquired by L.ender, Borrower?�rfght to any inaurnnce policies and pracceds resuldn� "�'�:�:_ .
<br /> >. �� �• from damage to the Property prior to the acqulsltIon shaU pass to Lender to the extent of the sums secared by this Secudty _,••�;;;_;;r
<br /> � " Instrument immediatel rior to the acquisition. ';*ti,h�,.._ -_
<br /> � � � � 6. Occupancy�Preservallon, Maintknance and Protection of the Property; Borrower's Loan Applicatton; �'�r;�"'� —
<br /> .__ � __,____t__. I Leaseholda Borrower shall occupy.establisli,and use the Propertv ns Borrower�principal res{dence within sixty days u fter -�_���'`T-`�
<br /> i ' � I the execution of thls Security Instfument and shali continue to accupy the Property a.c Borrower's princlpal residence for at --
<br /> , least one year after the date of accupancy. unless Lender othenvise agrees in wdting, which consent shalt not be �
<br /> " ' ' ° . unreasona6ly withheld,or unless extenuuting circumstances exist which are beyond Borrower's control. Borrower shall not "� 'i'='
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<br /> ' desuoy,damagc or impair the Property,ullow the Property to deteriorate,or commit wnste on the Ptoperty. Bort+ower shall °--
<br /> � , be In default if any fodeiture action or proceeding,whether civil or criminal.is begun that in LenderS goad faith judgment ^ ''�%,�"�'j._,
<br /> could result in forfeiture of the Property or otherwise materlally fmpair the licn created by this Secut�ty Instrument or �
<br /> Lenderk security interest. Bonower may cure such a default and reinstate,as provided in paragraph 18,by cnusing the action �{���'
<br /> " � or proceedin�to be dismissed with a ruling that,in Lenderk good fnith determination,precludes forfeiture of the Borrower s '„`�1.
<br /> interest in the Praperty or other material impairment of the lien crested by this Security Insuument or Lender's securiry , , ---
<br /> '• . luterest. Barrower shall also be in default if Borrower, during the loan applicatian process, �ave materially fatse or �=
<br /> � , inaccurate informatton or statements ta Lender(or failed to provIde Lender with uny material information>in connection with
<br /> __ ___ _^ the loan evidenced by the Note. indudine. hut not limited to, representations cancerning Borrower's occupancy of the
<br /> Property as a pdncipa�msidence. If this Secur�ty Instcument is on a lemsehotd.Horrower shnll comply with aU the provisions
<br /> . of the lease. If Borrower acquires fee titte to the Property,the leatiehold and the fec title shall not mer�e unless Lender ugmes
<br /> , to the mcrger in writin�.
<br /> 7. Protection of Lender's Rights in the Property. If Barrower fuils to perform the covenants und agreements ;
<br /> " contuined in this Security Instrument, or there is u Iegul proceeding that muy significuntly nffect Lender's rights in the � 2. ;
<br /> _...;.,,,_...:'......_ _ ' ._ Prooerty(such as n uroceedine in bankruntcy.probate.for condemnation or forfeitum or to enforce laws or reeulationxl.then �
<br /> � � Lender may da und pay for whatever is necessury to protect the vulue of the Property und Lender's rightti 'in the Property. �� � � �• �
<br /> Lenders actions may include paying uny sums secured by a lien which has priority over this Security Instrument.appearing „
<br /> � � in court,payfng reasonable nttomeys'fees und entering on the Propeny to muke repuin. Althou�h l.ender muy take action '
<br /> , • under this parugrnph 7,Lender dces not huve to do so. �t�twe
<br /> Any umounts disbursed by Lender under thiti parugruph 7 xhull bccomr uddltionul debt of Borrower secured by this ° "� ;
<br /> � Security Instrument. Unless Borrowcr und Lendcr ugrce to othrr tcrms of puyment,ihesc umountx shull bcur interest from the �• ��
<br /> " date of disbunement at the Note rute and xhatl 6c:puyublc,with intcretit,upon noticc from Lender ro Borrower requesting ' r��`���r�
<br /> payment. ,_%���'y���
<br /> " 8. Mortgage Insurance. If Lender rcyuind mort�uge inxurance us u condition of mnkin�the loun secured by this �i�� 't"�`'
<br /> � Security Instn�ment. Borrower shull puy the premiums rcyuired to muintuin the mortguge insurance in effect. If, for any ' .," '
<br /> �• renson, the mortgnge insurance roverngr mquired by l.rnder lupus or crmr. to t+e in effect, Borrower shall puy the ; � • :.�..�_, ._.
<br /> premiums required to obtuin coverage substuntiully cyuivulent to the mort�;uge insurance previoutily in eFfect, at u cost l �� �. ,
<br /> • substuntiulty equivulent to thc cuxt to Borrowcr of the mortgu€c insurnnce prcviously in rffect,from un ulternate mangage f •
<br /> Insurer approved by Lender. [f sub,tuntially equivalent mortguge inaurunce ruvcrage i�not uvailuble,Borrower xhall pay to
<br /> Lender each month a sum eyuul to onc-twclfth of thc ycurly mortguge inxuruncc premium hcing puid by Barrower when the
<br /> intiurunce coveruge lupsed or ceu�ed ro 6e in eftcrt. Lender will uccept,u+e und rrtuin thetic p�ymcnts uti u loss rcserve in lieu ' ;
<br /> of mortgnge insurance. Loss reserve paymcntti may no longcr be rcyuired, cu thr option ol'Lendcr, if mort€uge insurunce ,
<br /> covernge(in the wnount und for thr period thut Lendrr myuire,)pmvided by un in�urcr uppmvcd by Lcnder uguin lxramcs . .
<br /> available und is obtuined.Bormwer shall puy thc pmmiums rcyuircd to muintuin mc�ngugr in�uruncc in effect,or to provide a
<br /> loss rcservc,until the rcquircment for mortgoge inxuranre end. in arrordanrc w�ith�ny writtcn ugrcemcnt txtwccn Borrowcr
<br /> ' snd Lendcr or upplirablc 1�►w.
<br /> 9. Inspectlon. Lender or it.u�ent may mukc�a.anahlc rntrics upun und in,Exctionti of thr Property. Lcnder shall
<br /> . give Borrower noticc ut thc timc uf or prior to:u�inspection.pecityin�rca�onaMr cau.r tiir thr in.�xrtion.
<br /> 10. Condemngtion. Thr prcxceds of any invard or daim fi�r damugr.,dircrt��r rorrcqucntial,in rnnnection with any ,
<br /> � Smgl�Fanul�-•Funnk�tue/Freddie�tuc I'11FQR�t 1\ti"1'NI'�1F.�'I'..l�mtom�Currnant. 9/90 rpu¢r.f,jn�u¢n� �
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