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<br /> • � perIocls thnt Lender requices. The In�urunce canicr pravlding the Ihsurarice shall be ehasen by Borrawer�ubjcct t��I.Cmt�rti '
<br /> --�y� �u�pyovn!whicl�shall�:ot te�enrea:,annbly withhcla. If 8orrnwcr faits w maintai►Z covetngo der:.cdt�ed nhati e,A.cmlr.r mny.rt —
<br /> Lender's aptIon,abtain cov,:rago to pmtect L.ender'a rl�ghts in th�Property In accorAance with p�ragraph 9.
<br /> . All lnsurance policlea nnd renewals shaU be acceptnble w I.ander and shall ineiade a standmd moAg��o cleu�e. l.o�xirr
<br /> ' Aha11 have t1K right ta hold the pollciea and ren�wels. If I•ereder requires,Borrawer shnli pmmptly givo ro L.ender all rectipts
<br /> aP patd prcmiums and renawal notices. In the event of loss.8orrower shuU g[va prompt notico ta tho 1nRnrence cuirier and
<br /> I.ender. Lender mny make pruaf of loss if not mado promp�ly by Borrower.
<br /> Unlcss I.cnder and Borrower otherwIse ogrce in wddng,insurnnce proceeda shnil be applied ta r�storutlmn or rrpatr oP _
<br /> ` �� ttta Property damagzd ��he restoratIon or repair ta economicuUy fer�sible and Leaderk security is not lesstned. If tho `
<br /> _ ....o. - -�
<br /> � reswratton or repair le nat economically feasible�rr Leader�securlry would be lessened,ttte insurance pmceeda slull 6�
<br />-_ - upplied to d�e sums secured by this Securlty Insaument,w6ether or not then due, with eny excesa paid to BorroweJ. lf
<br /> Horrower abandona the Ptuperty.or does noi anawer wIthin 30 days a notice from 1.$nder that tha insurunee carrier has
<br /> of�'ered to settle a claim. then Lender may cqllect the tasurrance proceeds. Lender moy use the prnceed�to repair or reatore
<br /> thc Pr.o1;�r.�y ar to puy sums secured by this Securlty Inamunent,whether or not then due. The 3U�day per(od wtll begin when
<br /> _ thc rcads�as gaven.
<br /> -- - Unless➢Lender and Aormwer otherwiso agree in wrIting, eny appticadon of proceede to prittcipul ahall not catend nr
<br /> ' postpone the dqo:ifa�of•the monthly payments refemed to in paragraphs 1 und 2 or change the amount of tha paymcnts. It
<br />--- � under parngraph 2! the Property is dcc��ired by Lender.Bvmuwer�tlght to any insurance policies cu�d pnicceds resulting
<br />__ _i from dnn�pge to thc Property prior w die acquislaon shall paes ta�.endcr to t8ne extent of the sums secured by thts Securiry
<br /> - Instrument inunediazely prior to the acquisition.
<br />-_ , 6. Occups�ncy, PreservaEton, Malntenance aud I'cotectloa ot the Property; Horrower's Loan Applicat�un{
<br />._; Leaseholda Borrower shall occupy.establish,and use the AopercX as Borrower's prIncipal restdence wlthln sixry days after
<br /> '- -- - tha oxccudora of this Security Instrument s�d shall continue!o occupy the Pnogerty as Bormtv9er�s principal resldencr for at
<br /> Icuat ar�c ye�v after the dERe of oceupancy. unless Lender ottiernise ep+ees in writing. which consent ehali not be
<br />- unreuxonubly w,ithheld,ar unless extenuating circumstances caist yvhich aie beyond Borrower's conu+ol. Borrower ahnll not
<br /> destray.dumage ar cpt�pAlr'the Property,allow the Property to det�r�orate,or commit waste on the Pcopetty. Borrower at�ull
<br /> bo In defuult if any torfe�ture action ur proceeding,whether civil ar crtminul,is begun that in Lender�s good f�Ith Judgment
<br /> � cnu[d result in fns�eiture of the Property or otherwIse matarially impair the lien created by this Securlry Insqument or __
<br /> ",� l,enderh recurity ce►r�eat. Borrower may cure such a default aild.reinstate,as provided in paragraph 18.by cnusing the action
<br /> or praceeding to be�'ssmissed with a n�llng that.in Lenderts good faith detennination,precludes forPeiture of the Bottawer�
<br /> interest in tho Pra�s�.y or other material impairment of the lien created by this Secudty Insmiment or L.ender�s secudty
<br /> intcreat. Borrower �1�] also be in defuult if Borrower. dwing the loan appIication process. gave materIally falsc or
<br /> inuccurate infotmatian ar statements to Lender(or failed to provide Lender with any materIal fnfonmation)in connection wIth
<br /> iho loan evldenced by a�ha Note. inciudin�, but rtot Iimlted to, repnasentattons conceming Borrowet� occupancy of tho —�
<br /> _ _ !'rup�rty as u princtpalnesidence. If thls Securlry Instrument is oa a leasehald.Borrower shall comply with all the provision!�
<br /> Of l�lo itase. ff bormwer acquires fee dtIe to ti�e Propersy.the leaseitold and the fee[i[ie shali noc merge untess Lender ag�zes `
<br /> to the mer�cr in wrIting, �
<br /> 7. Protection ot Lender's Righta !n the Property. Tf Bortower faIls to perform the covenants and agreementa
<br /> cnntained in this Securlty Instrument, or there is a lagsl proceeding thut may gignifieantly affect I.ender�s dghta in the
<br /> Pruperty(xuch nri a proceeding in bankruptcy.probate.for condemnadon or forfeituee or to enforce laws or regulatlons),then
<br /> l.cndcr may do and pay for whatevcr is necessary ta,protect the vaJue of the Property and Lender� dghts in the Property. _
<br /> I.ender'K��rttuns may include payIng ar�y sums securcd by A lien which has priority aver this Sectu�ity Instrument,uppearing �
<br /> in cuurt,paying reuxonnble uuomeys'fees and entering on the Property to muke rcpairs.Although Lender may take action
<br />- under thix pumgmph 7,Lender doea nat have to do so. —
<br /> A�ty tnnuuntx disbursed by Lender under this paragraph 7 shall become addltional debt of Borrower secured by thla =�
<br /> Sccurity Ins�rument. Untess Borrower eind Lender asree to other terma of payment,these tunounta shall bear interest from the �'•
<br />��' dutc oi'dixbun;ement nt the Note rnte and shnll be payable.with intecest,upon norice from Lender to Borrower requestIng °---�=f=_
<br /> puynicnt. �=.r:
<br /> !i. Mo�tqAge Insuree�ce. If Lender required mortgage insurunce as a wnditton of making the loan secured by this � �"-`
<br />- Se�:urity (nxttument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. Ii.for any �'•``'
<br />�: rcau�n, the mortgage insumnce covernge required by I.ender lapses or ceases to be in effect, Borrower s!►all puy the �°'"�'
<br /> prcnz{umx rcyuit�ed to obtt�r. cvvarag� substantially eyuivalent to the mort�age insurance pmviously ln effect. at a cost �`-'=
<br /> xub�lun3ially equivnlent to tho c�st to Borrower of the mortgage insuraace previously in effect,from an altemate mortgage �_~-
<br /> Inwurrr upproved by Lertder. If substantielly equivalent mortgage insurance coverage is not avaiiable. Borrower shall pay to �:-
<br /> I.endcr ri�ch munth u�um equal to one-twelfth of the yearly martguge ineurance premium being paid by Borrower when the -
<br />- innua►nco covomge lupsed or ceased to be in effect. Lender will accept,use and retuin these paymenu as a loss mservo in IIeu '
<br /> nP mortg�g�Inxurunce. Loss reserve payments may no longer be requ�red,at the opdon of Lender. if m�ortgage inswunce �=:'
<br /> , cnvetugc(in t6o umnunt and for the period thut Lender requires)provided by An Insurer approved by Lender agaIn becomes `�;-._
<br /> uvuiluble iu�d ix ubtuined.Horrower shall pay the premiums required to maintain mortgage tnsurance in effect,or to provIde a ' '�
<br /> i.
<br /> losx rexorve,�►otil ihu ceyultement for mortgage insurance ends ln acwrdance wlth any wrltten agreement between Borrower
<br /> imd l.cndcr ar appticublo luw.
<br /> 9. Inepectlon. l.ender ar its usent may make ieasonable entries upon and inspections of the Property. Lender shall
<br /> glvu l���rn�wor m�Urc ut the time oF or prior to an inspecdun specifying reasonable cuase for the inspectian.
<br /> l0. t'undemna0lon. 1'he�iroceeds of any award or claim for damuges,direct or consequential,in coru�ecdon with any �
<br /> YU�gio i�mily•-Fannto MnelFYeddfe Mac UNIFARM INS'1'RUM�NT••Unifam Cmcnonas 9/90 (page 3 of 6 pageal
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