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<br /> '�'�'�' perloda thut Lender requlres. The Insurance esrder providfng the Insurartce shall be chosen by Horrower subject w Lendcr's
<br /> v'a."•"°,.,�� approval�vhich shall nut be urmea,tonubly wIthheld. If�orrawer fails to maintain covemge descdb$d sbovo,l,ender may,at
<br /> __:.,-,�r�,:�,t Lender's option,obtnin covemge to pmtect Lender'�rIghtu ln the Paapettyr in accordance wlth paragraph 7. —
<br /> __��,� A11 insurance polictes and renewals shali be accep�nble to Lender Aud shell lnclude a standard mortgage clause. I.ender
<br /> ;_:s;j�'?.,� ' shall have the dght to hold the policies and renewals. If I.ender req�irea,Borrower shell pmmptly give ta I.e�dee all receipts
<br /> �_:�_� � o f p a i d pre m lums en d renew a!notIces. Irt the event oQ tosa,Bortower shatl give prompt nodce to the inswance carrIer and
<br /> _��;,�,z;,�_ . I.ender. Lender may make pmof of toss if aot made prompt�y by Borrowar. -
<br /> ;_: Unless L.ender and Borruwer otherwise agree in wripag,inswrance proceeds ehalI be applied to teswrntion or�pair of ----
<br /> L___.--
<br /> � � the Property dama�ed, if the �sWrarion or repair is ecun�o�ically feasible and i,enderk securIty is not lessened. If the
<br /> -•�����,�:���.�''' restorr,tion or repair is not economicaUy feaslble or L.ender's securtty wauld be lessened,the insurence proceeds shaU be
<br /> . .
<br /> �,�-����y •�• appIie;cf to die sums sec:unx.t by this Security In�trumen�whet4ei or not then due, wtth any excess paid to Bormwer. Yf �_-_-
<br /> � Bomnwer abandons the Praperty,or does not answer w�thite 30 days a notice from I.ender that the Insurance carrier 6as
<br /> .t-. ''' effered to settle a claim,then I..ender may coUect the insurance praceeds. Lender may use the proceeds to repair or restore �p� =-
<br /> , - •'''`� the Property or to pay sums secured by this Security Instrument,whether or not tl�en due. '11ie 30-day perlod wW bagin when
<br /> •�: :: .` ''' the notice is given. ��„�,��T.
<br /> �' ^Y�:•����. •r i._ Unless Lender and Borrower otherwise agree in wridng,any applicatlon of proceeds to principal shaU not ext�nd or —_--
<br /> '--'-•`� ~? ri�:'. postpone tlie due date of the monthly payments refemed to ln paragraphs 1 and 2 or change the amount of the payments. If _•
<br /> under paragraph 21 the Property is acqu3red by Lender, Borrower�s right ta any insurance policies and proceeds resulting ::;?�'�
<br /> ;':;_�� from demage to the Property prior to the acquisidon shail pass to Lender to the extent of the sums secumd by this Secwiry '�==�-
<br /> ,,;..,,.,. :�i;�a:
<br /> _,,.��� _ Instrument immediately prior to the acquisidon. __
<br /> 6. Occupancy, IPreservation, Maintenance and Protection of the Property; Borrower's Loan Applicetion;
<br /> • Leaseholds. Borrower shall occupy,eatablish,and use the Property as Borrower's principai restdence within sixty days after -
<br /> :`:•,• , the execution of this Security Instrument and shell continue to occupy the Prog�rty as Bo:rower's pri�cipai rrsidence for at =- -
<br /> �'';;;.�; . , least one year after the date of occupancy, unless Leiider otherwise agrees in wrldng, which consent shall not be ��:;>-�
<br /> , unreasonably withheld,or unless extenuating circumstattces exist whlch are beyond Borrower's control. Borrower shell not ����:
<br /> ,. Y 8 P � PertY• PertY Pe Y rrcti�;.
<br /> " destro .dama e or im au the Pro allow the Pro to deteriorate,or cornmit waste on the Pro rt . Borrower shall �._.Kr�
<br /> ' be in default if any forfeiture acdon or proceeding,whettter civi!or criminal,is begun that in L.ender's good faith judgment ==
<br /> ' • could result in forfeiture of the Property or otherwise meterially impair the lien cneated by this Securiry Inswment or
<br /> � Lender�s security interest Borrower may cure such a default and reinstate,as provided in paragraph 18,by causing the action �•'�
<br /> „ , or proceeding to be dismissed with a ruling that,in L.enrler's good faith detennination.precludes forfeiturc of the Borrower's }
<br /> , interest in tbe Propeny or other material impairment of the lien cceated by this Security Instrument or Lender's security �"::_
<br /> • interest. Borrower shall also be in default if Borrower,during the loan appGcation process, gave materiatly false or �--
<br /> •• , . inaccnrate information or statements to Lender(or failed to provide Lender with any material information)in connection with �°=
<br /> � . the loan evidenced by the Note, including, but not limited to, representadons concerning Borrower�s occupancy of the � �
<br /> � Proparty as a princip�residence. If this Security Instnunent is on a leasehold,Bonower shall com I with all the rovisions "°�--�
<br /> P Y P �:s�=
<br /> - -- :,f the tease. If Borruwer acquiies fzc titlC to i1�C Ftu},criy,ihe iea�choid and the iee�i�ie sha3l noc merge unIess Lender agrees —�;;;�;_:.
<br /> `�"� ' to the merger in writing. •:�<<�•;;
<br /> " • 7. Protectfon of I.ender's Rights in the Property. If Borrower fails to perform the covenants and agreements "��'�`
<br /> ' contained in this Securiry Inswment, or there is a legal proceedin$ that may signifcantly affect Lender's rights in the � ��-Y
<br /> Property(such as a proceeding in bankruptcy,probate,far condemnation or forfeiture or to enforce laws or tegulations),then ,;:;=:
<br /> Ler.der may do and pay for whatever is necessary to protect the value of the Property and Lender�s dghu in the Properry. ' •
<br /> Lender's actions may include paying any sums secured by a lien which has prioriry over this Security Instrument,appearing
<br /> in court,paying reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may take action
<br /> under this paragraph 7,Lender dces not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> � Security Instrument. Unless Borrower and Lendcr agree to other terms of payment,these amounts shall bear interest from the
<br /> ��? • date of disbursement at thc Note rate and shall be payable,with interest, upon notice from Lender to Borrower requesting .,;,
<br /> , payment. ;'?r; �
<br /> 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secumd by this �' •�'��
<br /> ' Security [nstrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect If, for any
<br /> � reason, the mongage insurance coverage required by L,ender lapses or ceases to be in effect, Borrower shail pay the
<br /> " premiums required to obtain covera�e substsintially equivalent to the mortgage insurance previously in effect, at a cost �.
<br /> substantially equivalent to the cost to Barrower of the mortgage insurance previously in effect,from an alternate moAgage •
<br /> insurer approved by Lender. If subst:uitiapy equivalent mortgage insurance coverage is not available,Horrower shall pay to
<br /> Lender each month a sum eyual to cne-twetfth af the yearly mortgage insurance premium being paid by Borrower when the
<br /> , insurance coverage lapsed or ceatied to be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu
<br /> ' of mortgage insurance. Loss reserve payments may no longer be required, at the option of Lender, if mortgage insurance
<br /> coverage(in the arnount and for the period that Lender requires)provided by an insurer approved by Lender again becomes � �
<br /> � ,.� available and is obtained.Borcower shall pay the premiums required to maintain rnongsge insurance in effect,or to provide a
<br /> , loss reserve,urnil the requirement for mortgage insurance end�in accordance�ciEh any written agreement between Borrower �
<br /> And Lender or applicable law. �
<br /> 9. Inspection. Lender or its agent may make reasonable entries upon and in.pections of the Propeny. Lender shali
<br /> give Borrower notice at the time of or prior to an inspection specifying reasana6le cause(ur the inspection.
<br /> 10. Condemnation. The pmceeds�f any award or claim for damages,direct or conseyuential,in connection with any
<br /> Smgl�Family--Fannie�lae4t¢ddle'.Vlac llNlfiORM 1!�tiTRi'V!E\T--Umform Ca��cnantx 9/90 !pa¢e?nje�wRa1
<br /> GMAI lAkH1 RUeltlt�E'oACi.IM.�
<br /> To Ura�t Gall.1�800b90.&793=FA.K 61&781-1131 '
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