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<br /> �zWrtui�c tluu Lcndcr rcquires. 7'Q�c insuruicc cnrricr�irnvidin�;Ihc in+urancc shull hc chrncn by I3urru�vcr sul�jcct tu L�+nu'cr;
<br /> • aE�proval�vhich shaU nnt hc unrcnsanahly withhcld. If Borrowcr fuils to maimain covcragc dcscribed i�havc,l.rndcr may,,�t fM
<br /> , .� l.cndcr y cptiar�.obtuin covcrigc to pi•otcct l.cndr.r�rights in thc 1'rcipe�ty in accordanc<:with p�ragrr�p!i 7.
<br />_ - All b�surnnce pnlicies nnd renewnl�shnll he nccepu�blc tn Lcnde�nnd sl�nll include n stnndnrd mortgege ciciuse. Lender �
<br /> shall hnvc thc right ta hald�hc pulicies anu�rncwals. If 1_cndcr rc�uires,Iloreower�hall prnmptly givc to I..endcr nll receipts ''�
<br /> • ot paid premium5 nnd rene�vnl nudces, In�hc event of Inss, f3orrower+hnU give prnmpt nutice to the insurance earcier and '
<br /> "��' ,, � Lciidcr. Lendcr�nuy makc prm�f nf loss if no�madc pr�impUy by Qon�awcr. a;�..,;
<br /> , Unless Lcndcr and Qnrrowcr cthc��v(,c �br.:c in w:i�ing,iu.ur+mcc prcx:r.r.ds shall bc applicd to restomtion or rcpair af " � -
<br /> s thc Prapcny dumnged, if Ihe retitorutinn ur�epnir is ccanomically feti5iblc nnd Lcndcr's sccurity is no� Icsscned. If thc � • _—
<br /> „ rcstoration or repair is not ec�momically fensible or I.enderti security would Le IcsseneJ, the insurance procecd�� shall be "
<br /> , •�pplied to the sums sccurcd by this Sccurity histrumcnt, whcthcr or not thcn duc, with uny excess paid to E3orruwcr. If � •. ��..
<br /> Borrowcr ab,�utdom thc ProF�eny,or does not nnswcr within 30 days a noticc from Lcndcr that �hc insurancc cnrricr has ° �-
<br /> �, offered to setde a clnim,then Lendcr mny collect the insurance praceeds, Lencter may use thc prneeeds ro repair or restore " ,�
<br /> the Property ur to pay sums sccured by this Securiry Instrumcnt,whethcr or nut then due. The 3�-day period will begin when "' ,.`_
<br /> the noticc is givcn. , .. � �-��;_
<br /> Unlcss Lender,md Rorrow�r othcrwise ngrce in w�iting, iiny .pplic�tion of pracceds ta principal shall not extcnd or ���`'��:'--��° f
<br /> post�n�thc due date of the monthly paymcnts refermd to in par.i�raphs 1 �md 2 or change the amount of the payments. If � �':�
<br /> undcr parr�raph 21 thc F'ro��erty is acquircd by Lender, llorrowcrk right to any insurancc policies nnd procceds �esulting ' • � �
<br /> trom damage to the I'ropeny prior to the acquisition st�all pass to Lcn�er to the extent of the sums sccurcd 6y this Sccurity ' �`� �
<br /> •• Instrument immedintely prinr ta the ncquitiition. ..>��=-x�==--="
<br /> � 6. Occupancy. Preservodnrt„ Mat�icnnnce nnd Prfltecti�n of the Froperty; pp `r�'"''��
<br /> Borrnwcr'S [,oan A lication; "�-! �^��'
<br /> , Leaseholds. Horrower shall occupy,est�blish,and usc thc Propeny as eorrower's principal residcncc within sixty dnys after `'`��'�"" �
<br /> the execution of this Security Instrument and shall continue to occu the Pro crt p N 'S"'�''3'
<br /> �'' py p y as Barrowcrk rinci al msidencc for at .,.,uus�x>r
<br /> Ictut one year after the date of occupancy, unle.ss Lendcr othenvisc agrces in wrlting, which conscnt shall not be —�-=_
<br /> , , unreasonably withheld,or unless extenuating circumstmices exist which are beyond Borrower ti control. Borrower shall not 'f�'�'�y�-
<br /> ' dcstroy,darnagc or impair the Properey,ullow the Propeny w deteriorate,or cammit waste on the Property. Borru�ver shall .'-•�%��}'���
<br /> . , be in default if:uiy forfeiture action ot procecding,whether civil or criminal,is begun that in Lender's• �ood laith judgment • '"a''�-':�«,;°�_.
<br /> _� „ could result iu forfeiturc of thc F'ropeny or othenvisc materially impair [hc licn crcated Uy this Securiry Instrument or . ua�..'�•-.
<br /> • Lendert security intc��cst. Borrower may cure such u dcfault and reinstatc,as rovidcd in �ra ra h I R,b causin�� "'�� `
<br /> P p� F p y ,thc action '.rt�s�r���
<br /> - or procceding to bc dismisscd with n ruling thut,in Lcndcr's good faith detcrn�ination,precludcs forfciturc of thc Borrower� • - -
<br /> interest in :he Prnperty or odier material impainnent of the lien created by thiti Security Instrument or Lender+ security '
<br /> intcrest. Borrowcr shnll also be in dcfuult if Borrowcr, durin nc� loan a lication rocess, y�
<br /> 6 pp p gavc matcrially f11sc or
<br /> inaccuratc infonnation or statcments to L,cndcr(or�iled to providc Lcndcr with any material information)in connection�vith �� -
<br /> the loan evidenced by the Note, including, but not limited to, representntions conceming Borrower; cxcupancy of the � "` `
<br /> � � 1�(opertY as a Qrincipal residencr If thic CnrLr!(�[^�Sr'l:;�r::::���������a:u.L'����:�;ci,iiu{i�u���piy�viih aIi i6a pravisions ,
<br /> of the Icase. If Borrowcr acquires fcc titic to thc Property,thc Icasehold and thc fec title tihall i�ot mcrgc unless Lc�nder agrces
<br /> _ to thc mcrgcr in writing. •,
<br /> ° 7. Protectton of Lcnder's Rl�hts in the Property. If Borrowcr fail:; to perform thc covennnts und agrcements t+ "�
<br /> , contained in tl»ti Security Instrument, or there is a Icgal proceeding that may significantly affect Lender's rights in the
<br /> 1'ropeny(such as,i proceeding in bnnkruptcy,probnte,for condemnation or fo�iciture or to enforce laws or regulltions),then �, -
<br /> . Lender may do und puy for whatcvcr is neccssury to protect the valuc of ehc Pr�perty and Lendcr'ti rights in the Pr�perty. '�j�
<br />. �� Lenderk actions may include paying any tiums secumd by a lien which has prioriry over this Seeurity Instrument,appearing I j
<br /> in court, paying reasonnble uttomeys'fces and cntcring on thc Proprny to makc repai�s. Although Lcnder may takc ::ction
<br /> undcr this pangraph 7,Lendcr docs not hnvc to do so. : ; °
<br /> Any amounts disbursed b Lcndcr undcr this g p y ��„�°'t' •
<br /> Y para ra h 7 shall bccomc additional debt of B��rrower xecured b Ihis ��ii!
<br /> Security Instrument. Unless Borrower:md l.cndcr a grc c to o t her terms o f payment,t hese amounts xhall bcar intcrest from the -� �
<br /> date of disbur�emcnt at the Note ratc and tihnll bc payable,with interest,upan rioticc from l.ender to E3ormwcr requesting „ _;� ��
<br />= payment. �-
<br /> �� 8. Mortqoge 7nsurance. If Lender reyuired mortgage insurance as a condition of making thc luan�ecurcd by this Y�� ' • •� •
<br /> Security instrument, Borrowcr sh.�ll pay thc premiunt; rcyuircd to maintain thc mortgagc insur.incc in etfcct. If, for any • ' •
<br /> � • renson, the mortguge insurance coverage required by Lender lapses or ceases to bc in effect, T3urroaer ,hall pay the ���
<br /> � premiums reyuired to obtain cover.�gc substanticilly cquivalent to the mortgage insurance previously in effect, at u cost f; R�
<br />_ substanti:dly eyuivulent to thc cost to f3orrowcr ot'ttic r»ongabc insurance previously in cffect, from .in ahcmate mortgage ' �
<br /> , insurer approvcd by Lender. If substantially cyuivalent mong;�gc intiur.incc covcraFc is not availablc. Bonowcr�hnll � to �"
<br /> P�Y " '�� -
<br /> Lender each month�sum equnl to one-twelRh of the yearly mortgage insuriince premium heing paid by Bomo�ver when tlte
<br /> • insurancc covcragc Inpscd or ccascd to bc in effect. Lendcr will acccpt,usc and retain these paymcnts as a loss rc+crve in lieu ��'�
<br />_ ° of mart�age insur�nce. Loss rescrve paymcnts may no laigcr bc rcyuired, at�hc option c�f Lendcr, if mortgngc insurance ,�� {; �;
<br /> cover�ge(in the umount iuid for the period that Lendcr reyuires)pnividcd by an insurcr approvcd hy Lcndcr again becomes �� ,.•
<br /> nvailable und is obtained.Borrower shall pay thc pmmiums rcyuircd to maintain mortgage insurancc in cffec�,or to providc a �� "
<br /> loss reserve, until the reyuirement for mortgage insursnee ends in accardance with any written agreement between E3orrmvrr ���
<br /> and Lendcr or applicable law. � " �
<br /> - 9. [nspettfon. l,endcr or its agent may mi�kc rcasonable entrict upon and inspections of thc Propcny. Lrndcr shull �
<br /> give Rarrowcr notice at the timc of or prior to;u�inspection specifying rc.►sonablc cause for thr inspection. I .
<br /> # , 10, Condcmnntlon. 'I'hc procceds ot'any award or claim fur damagcs,dircct or conxcyucntial,in conncction with imy � •
<br /> Sin�lc famdy•-Fnnnte�tac/FYcddtc Dfac UNI(�ORM INSTRUMI?N1'••Uwfomi Covcnann 9l90 lp,�xr,r„fn p,�Ar.,� !
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