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<br /> ..' . � '. periods that Lender requirea. The Insurance cacrter pmviding the insurance ahall be chosen by Borrower subject w Lender's °-� ,,�.�_
<br /> �- • , npproval which�hail aot be unreasonably wlthheld. If Barrower failR to muintain covernge deacrfbed atrove.Lender may.at ��=r. —°
<br /> , Lenderk o don.abtnin covern e to rotect Lender?v ri hGS in the Pra eR In occotdnnce with ara m h 7. �-° '� '=rn��� "
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<br /> • All insurnnce policiea sind renewuls shuil be nccepteble ta[.ender und shnl!include n standard mortgnge claure. Lender :�:'t;:.
<br /> .. s h a l l huve t he ris h t to ho l d t he po l ic ies av d renew w ls. I f Le n der reyu ires,Borrawer s hu l l promp t ly g ive to I.en der a l l receip t s , ':` `"�?'.•?•:��=--
<br /> af paid premiums end renewal notices. Irt the event of loss,Borrower shull give prampt notIce to the insurance carrIer and � �: ` `� �'-_
<br /> Lender. L.ender may make proof of loss if not macfe promptly by Borrower. . ���� .,,: -
<br /> " Unless Lender and Borrower otherwIse agree in writin�. insurattce proceeds shall be Applied to restoration or tepair of ' "' '�""'�z-'�
<br /> � , the Property dama�ed, if the restoration or repair is economicaUy feasible and l.enderK �securiry is not lessened. if the ' -
<br /> � restoratIon or repair is nat economically feasible or i.ender's security would be lessened.the insurance proceeds shal! be • �,
<br /> "��•'s,;. ; �� applied to the sums secured by this Security Instivment.whether or not then due,with any excess pa;d to Borrower. If ' .
<br /> Sorrower abanJuns u�e P�opany,or dces not unswer within 30 duys a notice fram L.ender thst the insurar►ce carrier has -- _
<br /> , offered to settle a ciaim,then Lender may coltect the insurence proceeds. Lender may use the proceeds to repair or restore , '
<br /> . ;, the Propecty or to pay sums secured by this Security[nstrument,whether or not then due. Thc 30-day period wiU begin when _
<br /> the nouce ls given.
<br /> - • � Unle�.c I.ender and Borrower otherwise agree in writing,any application of praceeds to principal �hall not extend or •
<br /> ,�� '� postpone the due date of the monthly payments referred to in para�raphs 1 and 2 or change the amount of the payments. If ;�•`
<br /> ,. ' under paragraph 21 the Property is acquired by Lender. Borrower�right to any insurance policies and proceeds resulting i;-
<br /> • from damage to tha Pcoperty prior to the acquisition shall pass to L.ender to the extent of the sums secured by thia Security '
<br /> Inswment immediately prior to the acquisiuon. �, �
<br /> ' .". 6. Occupancy, Preservntlan, Maintena�ece and Prmtection of the Property; Horrower's Loan Appl3cation; • , �;
<br /> . - � Leasaholds. Borrower shalt occupy,establish,und use the Praperty as Borrower:s principaF residence within sixry days after - .,,�� �
<br /> � . thc execution of this Security lnFtrument and shal i continue to occupy the Property as Borrower's principal residence for at -r- �•°'�
<br /> � least one year Aftur the date of occupancy, unless Lender otherwi�e ugrees in writing, which consent shalt not be • � �-
<br /> • . unreasonably withheld.or unless extenuating circumstances exist which are beyond Borrower�con[rol. Borrower shall not ,�
<br /> , destroy,damage or impair the Propeny,allow the !'ropeny to deteriorate,or commit waste on the Property. Borrower shall " ' �
<br /> ° 6e in default if any forfeitune aGti�ln or prceeeding,wheti�er civil or criminal,iti begun thac in Lender's good faith judgment ,, '� �
<br /> ""`".`:� couid result in forfeiture of ths Property or otherwise materially impair the lien created by this Security Instrument or
<br /> ��'' `� � Lender's securit interest, Borrq�ver ma cure such a default and reinstate,as rovided in ara ra h I8,b causin the action � �' '-
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<br /> • , ar proceeding to be dismiFSed with a ruiing thnt,in Lender's good faith determination,precludes forfeiture of the Borrower's• ' �,r�'�
<br /> ' ' . interest in the Property or other motariut impaimt�nt of the lien created by this Securiry Instrument or Lender's security � � . �
<br /> interest. Borrower shull alrw be in default if Bunrwwer, durin the loan a Itcation rocess, ave materiall false or ?:r.':; . � /`�—
<br /> `��.i.�� inaccurate information or stutementx to!_ender(ur fuiied tm proaide Lender wit papriy matenal information)in conn ction wiih -'�� .
<br /> ,,;;i�`;�, the loan evidenced by the Nute, including, but nnt iimitcd to, representations conceming Borrower's occupancy of the , '�•• '� �
<br /> ' Roperty as a principnl residence. (f thiH Security Inntrument is on a leaseho[d.Borrower sha11 comply with all the provisions .; '
<br /> of the lease. IP Bvrtou�er acyuires fee title tc�thc i'rvperty,the leasehold•rnd the fee title shall not merge unless Lender agrees " • ' �
<br /> - - to the margcr in wriUng. --- •
<br /> 7. Protectlon of I,eader's RighGv in tha Property. If Borrower fails to perform the covenants and agreements ' -,�' I
<br /> ".;,;��?�i . contuined in this Securiry InFtrument, or therr iH a ic@ul proceeding that may significantly affect Lender's rights in the ':��.��; , � ; '
<br /> •,�t,;;'.'`•'.':• Property(such a.s a proceedin�t in bankruptcy,probatu.for condemnation or forfeiture or ro enforce laws or reguiations),then ��• � � - _�'
<br /> ••;:�::,�:4�;.�';, • I.ender may do and pay for whutever is necesxary w protect the valur of the Property and Lenders righta in the Property. . -��
<br /> Lender's actions miiy include puying any su�u�,ecured by a lien which has priority ove�thi.Security Instrument,appearing �r,
<br /> . , • in court,paying rea�;onnble attorneys'frrs and ent�ring on thc Pmperty to make repair�.Although Lender may take action .���
<br /> �� ' ' under this paragraph 7. Lender does not huvc ic�do,o. ,.�
<br /> . , . . Any amounts disbuned b�� Lxnder undcr ihin para�rrph 7,hall txcumc udditional debt of Borrowcr secured by this • • •
<br /> Security inurument. Unless Bum��ver und Lc�ndcr aEcre to othcr terms of psyment,thexe amounts sh�U bear interest from the '� '
<br /> date of disbunemem at thc Nut�rat�and,hul!hc puyubte,with inten-�t,upcm notice from Lender to Borrower reyuesting •'���`
<br /> payment. .•�',�s'.
<br /> S. Mortgage insuranee. if Lender rayuirx:J mnrt�age insur:►ncr:ss a rondition of making the loan secured by this �- .
<br /> Security Instrument,Borru�ver shail puy the pmmiums reyuired to maintuin the mortgage intiurance in effect. If, for any '
<br /> ' reason. the mortgage insur.uice roveragc reyuir�d b�� E,rnder lap+e. or ceatie. to he in effect. Borrower shall pay the • �,:�� -
<br /> .'�r , premiums reyuired to obtain coverage �ub�tantially equi�alrnt tu the mungage intiurancr pmviously in effect, at a cotit • �
<br /> ���!'���•. substuntially eyuivalrnt ro the cost to Burcower ut'the monguge intiurance previously in effect, from an alternate mortgage
<br /> insurer approved by Lender. If,ub.tantiullv eyuiv alent mortgu�e inwrancr ruverage is not available,Borrower shall pay to '•'d':�.':;`;
<br /> Lender each month a sum equal to one-twelfrl�uf ahe yearly murtguge in.urance premium being paid hy Borrower when the j • � '�` `� `�
<br /> :';�.�.� insurance coverage lap.ed or rca�ed to be in cff�rt. Lendcr will acrept,u.c and retain the+r payment,ati a]o,ti re,ervr in lieu ;
<br /> �..:��:.,•:': of mortgage insurance. Lo�.n:serve payment,may n��lun�:er he reyuircd,at the option af I.rnJer, if mortgagr intiur.►nce �
<br /> , :. �� covera�e(in the amount and fi�r ihc period thut Lcrxicr reyuirc��providrd by an imurer approved by Lender again becomes ; .
<br /> ,.`•t�y,;:�`' . availnble und is oi�tained.Bc�rmwer+hnll puy the premiums rcyuirrd to maintain mortgacc intiurance in rffect,or to provide a j
<br /> � loss reserve,untit tlie rc:yuircmrnt for mortgage in�urancr rnJ�in arrordancr with any wntten agreemrnt txtween Borrower
<br /> ` ' • and Lenderor ap�licable law. ;
<br /> �'� ` 9. Inspection. Lender ur it.r-agent may muke rea�onahte rntrirs upon and inspc:rtion+of the Prop�n�. Lcnder�hall �
<br /> give Borrower notice at the time of or prior to an intiprcti�>n��xrifying rer+onahlr rau�r for the in��ction. ' �
<br /> . ���-�'�� I0. Condemnation. The pnxerd+of any aw•ard�ir rlaim for damage�.Jirrct��r comryuential, in ronnection w ith:uiy �
<br /> ' SinglcFrmily--Fanuie�lue•Freddle�f•rct\IFUItS91\tiTRl�1F:VT l'mt�,rmCo�cn.uit� 9/90 �puer.i,qop�t,•�� '
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