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<br /> - ` � fl;illqt�:�l�!�I�.CIt�1_'I'i'�'1�piFi�. �I�::;lU:tU'���i�;C,��si�i�;��eviclia;; F{t:: In•.m:��t.0 ':�i^Il ii:;Cit��'.;:ii liy i.irt����::�'P�.l�i;�;;;:i[u 1,i li;:' C'' �.:
<br /> --�_�_:,�:�;��.ui:•a,�. ' n�provnl which hliall itot 1�:autr�a,anctuly eiiti�I�cl(�. I�[I'JO]iOLvCY f;�'sls to�a:airatnl�a t:nvc�arc d;:::ti:iiL.:d„5j{�v,,.)�c;rtc,::► t��.:y,i,� �,u.,;,,;
<br />___=°� Lcndcr�r optioi�,abtain cavcrugc to protcet Lcudcr i:riglits i�i tha f�•opi:rty in accnrctnnc�e wltii paragrapl►1,
<br /> __-�==r.�s.'�'�� All in�urnnca pnlicics oud renicwnls sh�ll be ncceptable fu 1,enUer t�nd stcn'f i�tclude n SianQarcl�nurtg��ge clnuse. I.end�r
<br /> � + shal!havc the right tc�hufd thr,policies nnd renewalv. If Lcndex�yuias,9orrowcr shall��rampNy givc to I.cnder i911 receipts
<br /> .W::.�;_;�._„�„�,,,��;�� of paid premium�nnd renewal notlees. Tr�the event of los9,Hurrow�r shnll givo pcumpt notiee to thr,ensurnuce carricr and
<br /> - --- - _ .. ___ _ Lcnd�r. Lcnder muy�nuhe E►riw;ui luss if�jui ii}udc p�:;�n�,ily Ly I3o,eo.::;r.
<br /> — Unlcss Lender and Borrower otherwlse agree in wri�isig,insursu�ce proceeds shall ba n�lied tu restoratiun ar rrpair of
<br /> _— -_.,;�.�,� thc ['ropcny damugcd, if the rcstoratton or�cpair is economically feasible niid Lenders sccurity Is not Icsscned. If thn _
<br /> —__^ -- ------— restoration ar rep:ur is not econamically feasible or Lenders security would be lesse�eed, the inssunnce pruceeds shall b�
<br /> �, �-=�=a .npplicd to the sums secured by this Security Insteument, whethcr or not then duc, with�ny excess paid to Bo�rower. If
<br /> �'�'�"T � 8orrower abwndana thc Propeity, ar daes nut :►nswer within 30 daye a nocicc from I.ender that the insurance carrler has
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<br /> _—�---�;.:.��n�,r�r�,;�,� offered to settle n cla3m,ihen Lender may ccllect[he insurnnce proceeds. Lender muy use the procceds to repaic or restore -
<br /> -_�.0� the I'ropeny or to pay sums aecurcd by this Sccurity Instn►ment,whetltej•or�ot th.n duc. '[Y,e 3Q-dU,y perial will bcgin whcn
<br /> :����� the notice is�iven.
<br /> ����t�i,� Untess L.ender and Borrower otherwise ngree in writing,any app3icntion of proceeds to principal shall not oxtetid or
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<br />___..,R;,.=.j;�; �A postpone thc due date of the monthly pnymcnu referred to in para6raplts 1 nnd 2 or chun e tha antount of the a ments.
<br /> ':�:rir,�e�.�:.����,. under parngraph 21 the P-npepy is acquircd by Lender, Burrower�s ri�ht to any InsuraFice poHcies nnd procceds resutung
<br /> —=-L�+� • frorn damage to the Prop� .y prior to the acquisition shall pass to Lender to the extent of the sums ser,ured by tl�is Securiry
<br /> _- Instrument immedi:►toly prior to the acquisition. ,
<br /> _��=����-°n•:`�.� ',,; 6. Occup�ncy, Presnre�siton, Maintenan�e und Protc:ctlun ot the Property; Borrowers Losn AppllcutEon;
<br /> �M�'?``��� "' ���',���ti,��� l.eitseholds. Yiorrower shail occnpy,establish,nnd use the Propeny us Horrower's principal residence witi►in sixty days aft..r
<br />�'=�•°'` "` a'i, �he execution of diis Securit Instrument:uid shnll caminue to occupy the Property as 8orrower's principal ees[dence for at
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<br /> leust one yeur after the datc of accupancy, unless Lender otherwisc agcees in writing, which consent shnll not be
<br /> �; • � x„ :.: unreasanably withheld,or u�less extenuating circumstances exist which are beyond SonowerS control. Borrower shall not
<br /> j`�"��Y`� � ��'`•' � destroy,damage or impair the Property,allow the Property ta dateriorate,or commit waste on 1he Property. Borrower shall
<br /> •4 be in default if'nny forfeituru action or procecding,whether civil or criminnl,is be�un thnt in Lender's good faith judgment
<br /> `�'� "`�� • �'�""��'- could result in forfeiture of the Property or othenvise materially impalr the lien created by this Security Insqument or
<br /> :;r . , � .•_,�, "; Lender's security interest. �3orrower may cure such a default�nd reinstate,as provided in paragruph IB.by cAUSing die action
<br /> or proceeding to be dismissed with a rulin�diat,in Lenders goad faith determinution,precludes forfeiturc of the Borrower's
<br />- � • interest in the Property or other materiat impairment of the lien eneuted by this Security Instrument or l.ender's security
<br /> interest. Borrower shull also be in default if Borrower, during the Ioan application process, gave materially fnlse or
<br /> � ' inuccurate infonnation or statements to Lender(or fniled to provide Lender with any material information)in connection with
<br /> ;t;c ;oa;. cv:3�r.��s! b� :he *!at�, ir.clnd:nb, b�»f rnS I�mifnrl r�, ���,M�entn�inns conceming Borro�ver's occupancy of the
<br /> Propeny us a principul residence. If this Security Instrument is on n leusehold,Borrower shall comply with ail the provisions
<br /> � � of the lease. [f Bonower ncquires fee title to the Property,the leasehold and the fee title shall not merge unlcss I.ender agrees
<br /> to tlie merger in writing.
<br /> 7. Protection of L�nder's Ri�hte in the Property. If Borrower fails to perform the covennnts and ngreements
<br /> �• cantnined in this Security Instrument, or there is a legal proceeding thnt muy significantly affect l,ender's rights in the
<br /> . Propeny(such as a proceeding in bankruptcy,probute,for condemnution or farfeiture or to enforce laws or regulutions),then
<br /> , � Lender mny do and puy for whatevcr is necessary to pratect the value of the Propecty and Lendcr's• rights in tiic Propercy.
<br /> Lender's nctiont mny include paying any sums securcd by a lien which has priority ovcr this Security Instn►ment,agpearin�
<br /> • in court,paying reusonable nttomeys'fecs and entcring nn the Property to makc repairs. Although Lender muy tukc nction �':_
<br /> wider this p�ragraph 7,Lender does not have to do so. ---
<br /> Any amounts disbursed by Lender under this paragraph 7 sh;ill become additionul debt of BoTrower secured by this _
<br /> `.�` Security Inserument. llnlcss Borrowcr und Lcnder agree to othcr tcrms of payment,these amounts slinll bcnr interest from thc _
<br /> `�'�"'�'�• date of disbunement at the Note rate and shall be payable, with intemst, upon no►icc from Lender to Barrowcr requestin�
<br /> ° payment. �
<br /> . 8. Mortgage lnsurance. If Lender required mortgage insurance as a condition of muking the loan secured by thts ____
<br /> 1, Securiry [nstrument, Borrower shall pay the premiums required to muintain the mortgage insurance in effect. If, for any �
<br /> �•r reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Barrower shall pay the
<br /> premiums rcquired to obtain cover.+ge substantially equivttlent to the mortgage insurance previously in effect, at a cost _
<br /> substantially eyuivalent to the cost to Borrower of the mortgage insurance prevEously in effect.from An altem�te xnort�age
<br /> insurer upproved by Lender. If substantially equivalent martga�e insurance coveragc is not avuiluble,aorrower shall pay to —_
<br /> .�, •:t " Lender each month a sum eyual to one-twelRh oF the ycarly mort�age insurancc prem►um being paid by Borruwer whcn the �i
<br /> , insurance coveragc lapsed or ceased to be in effect. Lender will accept,use Rnd retiiin these puyments as a loss reserve in lieu �..
<br /> . of mortgage insurance. Loss reservc payments may no longcr be requircd,at the optian uf Lender, if mortgnge insurance �;_�,
<br /> X coverage(in the amount�u►d for the period that I.ender rercyuires)providcd by an insurcr approved by Lender again becumes �'- '
<br /> available and is obtaincd.Borrower shall pay the premiums reyuin:d to maintain mortgage insurance in effect,or to provide a
<br /> , � loss rescrve, until the reyuirement for mortgage insurance ends in accordance with�ny written agreement between Botto�ver
<br /> nnd Lender or applic:�ble law.
<br /> 9. Inspection. Lendcr or its agent may makc rcasonablc entrics upon and inspcctions of thc i'roperty. Lender shall
<br /> � : . " give Bonowcr noticc at the timc of or prior to an inspection specifying masonable cause for the inspcction.
<br /> . 10. Condemnntion. The procceds of any award or cluim for dama�es,dircct or co►tiseyuential, in connectiun with any
<br /> - Singlc Frmily-•Fannle Mudl�Ycddlc M1tac UNII�OLiM INSTROMENT••Unifom�Covrn�ns 9/90 Ipage3 afb pngesl
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