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<br /> � periuds that L.cndcr rcquires. 'i'hc insurancc carricr providing Ihc in:;urandc shal!bi choscn by 13orr�����t�t'I.cndcr', ^�`
<br /> .n . npprovul which shall not bc uur�asunably widihcld. If Borrowcr fai9s tu mai�t�,in covcr.igc describcd abuvc. Lcndcr may,at
<br /> Le�nder's opiian,oU►nin coveruge�o protect Lender's rights in the Property in accordanee with parngraph 7.
<br /> ; All insaranc;e policies and rcnewals sh�ll be acceptable to Lendcr m�d shnll include a standard mangnge clnuse. Lender
<br />��{ ' sh111 hnve tNc right to hold thc policics und rencwnls. If Lcnder rcquin�s, Borrowcr shiill�rornpUy giv�io Lendcr u11 reccipis
<br /> _a , of paid pi�mlums and renevmi notices. !n the event of loss,Bonower shnll bive prompt notice[o the insurance ciirrier and
<br />'+y' '` ' Lcnder. I,cnder may make proof of loss if not made promptly by Borrower.
<br /> Unli�ss Lcndcr+md[3orcower othcrwisc aFree in writing, insuruncc procccds xhull be applicd to restorution or re�•air af f,
<br />�;a • • the Property damagcd, it thc restomtion or rcpair is ecanomicully feasiblc .md Lendcr's sccurity is not tessencd. If thc
<br />=� . � � restoration or repair is nat econnmically feasible or I.ender'.s security would Nc Iessened, th� insunince prace�ds shall be ,
<br />'� applied to the sums secured by this Securiry Instrument, �vhether or not tlten due, with any excesx paid to Borrower. If "�
<br /> - Barrowcr abandons the Propeny, or does not answer within 30 days a notice from Lender thut ahe insurancc rarricr h.Gti
<br /> offered to settle a claim,then Lender muy collect the insucance proceeds. Lender may use the procceds ta repair or restom � .
<br /> �� �� , thc Property or to�ay sums secured by this Security Instrument,whethcr or not then due. Thc 30•day period will begin when •� ..
<br /> � tl�e noticc is given. '�
<br /> Unless Lender and Borrower othenvise agrce in writing,uny :�pplication of procecds to principal shull not ehtend or �
<br /> � '� postpone the due dnte of thc monthly payments refcrred to in paragraphs I and 2 or chan�e thc amount of thc puyments. If ' '+� ,
<br /> ` under paragrrph 21 the Property is acquired by Lender,Borrower's right to any insurance policies and proceeds resulting � � ' '
<br /> � , from damnge ro the Property prior to the acquisition shall pass ta Lender to the extent of the sums secured by this Securiry •,� i'
<br /> : „ Insttument immediately prior to�he acquisition. '• �
<br /> '� 6. Occupancy. Preservation, ldiaintenance s�nd Protectbn oY the Property; Borrower's Loan Applicution; ,�
<br /> � Leuseholds. Borrower shall occupy,establish,and use the Property as Barrower's principal residence within sixty days after �.,�. �
<br /> .� • the execution of this Security Gi�lrument and sliall continue to occupy the Pmperty as Borro�vert principal residence for�tt � ,. �
<br />- y least one year after the date of occupnncy, unless iLender otherwise agrees in writing, which consent shall not be „
<br /> � unreasonably withheld,or unless extenuating circumstunces exist which are beyond Barrower's convol. Borrowcr shall not .
<br />_.� destroy,damage or impair the Property,allo�v the Property to detcriorate,or commit waste on the Property. Borrower shall � M
<br /> •; be in default if any forfeiture nction or proceeding, whether civil or criminal, is begun that in Lender',good faith judgment Y�
<br /> �,� ' could result in forfei[ure of the Property or otherwise materi�illy impair tt�e lien created by this Security Ins[rument or
<br /> • , Lender's•securiry interest. Borrower may cure such a default and reinstate,as provided in paragraph l8,by causing the action
<br /> or proccedin�to be dismissed with a n►ling that,in Lender's-good faith determination,precludes forfeiwre of thc liarrower's n
<br /> ' �� � intercst in the Pruperty or other material impairtnent of the licn crcnted by this Security [nstrument or Lenders security , � �.
<br /> interest. Borrower shall also be in default �f Borrower, during the laan application process, �sve mnterinlly false or
<br /> inaccurste information or statements to Lendcr(or f:�iled to provide Lender with any material informution)in wnnection with ��Y'� �
<br /> the loan evidenced b,y the Note, incl��ding, but not limited to,representations conceming Borcower's occupancy of the -
<br /> Property as a principal rcsidence. If this Security Instrument is on a Ieasehold,Bonower shall comply with all the provisions =y� ,��
<br /> � ° ° of the lease. If Borrower acquins fee title to the Property,the IeasCholtl anA the fee title snall not mer�e unie�s Leuuec a•ICCI
<br /> to the merger in writing. � b y������ �� `��
<br /> � �' �� 7. Protection of Lender's R.Ights in the Property. If Borrower fails to perform the covenants and agrecments r.., �-� '� •
<br /> contained in this Security instniment, or there is a legal procee�fing that may significantly affect Lender's rights in the „�4,
<br /> ' , , Property(such as a proceeding in bankruptcy,probate,for condemn:uion or forfeiture or to enforce luws or regulations),then " � ;�
<br /> � Lender may do and pay for whatever is necessary to prutect the value of the Propeny and Lender� rights in thc Propcny.
<br /> Lender's actions may include paying any sums securcd by a lien which has priority ovcr this Security Instntment,appe.iring ' ��'•
<br /> � in court,payin�reasonable attomeys'fees :uid cntering on thc Property to make repairs. Although Lcnder may takc action , ,, ,f' ��;%'.
<br /> • under this paragraph 7.Lender does not have to do so. , .:yr ��
<br /> Any amounts disbuned by Lender under this puragraph 7 sl�all become additional Jebt of�orrower securcd by this ,,..�;. f .�
<br /> t Untess Borrower and Lender a ree to other tci-mx�t'pay�»ent,thes�amuunts shall he:v inteirst fro�n the , „ ��
<br /> Secunty Instrumcn. F � " I,,
<br /> date of disbunement at the Note rate and shall he payable,with intemtit,upon notice frum Lendcr to Bocrower rcyuesting
<br /> . puyment. ���
<br /> �3. Mortgage Insurance. !f Lender��:yuired mortgage insurance as u condition of making the loan +ecumd by this ��;;� �: -
<br /> Securiry Instrument, Borrawer shall pay the premiums reqiiired�o maintain the mortgagc in,urancc in ct'fect. If, for any , ��
<br /> � ' n:ason, the mnrtgage insurance cover�ge reyuired by Lender lapses or ceascs w be in ef(ect, Borrower shall pay thc
<br /> - premiums required to obtain covrrage substantially eyuivalent io the mortguge insurancr previuusly in effect, at a cotit ` �
<br />� substantially equivalent to the cost to Borro�ver of the mortgu�e insur.�nce prcviou�ly iu cffect, from an altemate mortgage �� ,�. *•: •
<br /> �� insurer approved by Lendcr. If+ubstantialiy cyuivalent mart�a�!e in�ur:mcc covcragc is not available.Bortnwcr shall pay to ,.5� ��;;' ;
<br /> Lendcr cach monlh a sum equxl to one-twelfth of ihe yexrly mon@��ge inyurancc premium heing paid by Borrower when the z y ' .
<br /> � insur.ince coverage lapsed or ceased to be in eFfect. LenJer w ill accept,use and rer.tin thesr payments a+a loss rcsrrvc in lieu a�
<br /> � ° ; of mongage insursnce. Loss rcserve payments may nu lun�er be reyuircd, at the option of Lender,if mortgage in�ur.incc f� 1
<br /> • covcragc(in thc amount anJ for thc perwJ thut Lcndrr rc��uirc�)pt-c�vidcd by an intiurcr approvcd by Lendcr again becomes ��`w,, ��'���i•
<br /> available and is obtained.Borro�ver shall pay the prcmiums rryuircd lo maintain mortgagr insur,mcc in effcct,or ta pn�vide a �,. � •� ��`�
<br /> � loss reservc,until the rcyuiremcnt fur nwrtga�c insuramc ends in;►ccordancc with any writtcn agrcernent betwren l3orn����er � ' �+^
<br /> � and Lendcr or applicablc law. i ��!
<br />- 9. Inspection. Lender ur its agrn[ m,ry makc rLasunablr cntrics upon and inspcctions uf Ihc Prnperty. Lend�r.hall � -'�,
<br /> � ., give Bortower notice at the time of or prior to an inspertion specifying n:awnablr causc for thr in�prctiun. � .
<br /> � 10. Cortdemnutiun. Thc pr��ceds of any ciward or rlaim for damages,din�rt e�r am�cyucntial, in conncctiun with:uiy j..„ -�
<br /> �. SinglcF.�nnly--Funni.Vlnc/Ftcddle�1ac UNIFI)RM INti'PItU\tE1'f--l�ndumi Cu�cnam, 9/90 ipa„•t,qr�p,+�,•�� � �
<br /> _ GR:�t I:itn BuUne�Fimie,lnr-� � X:'.
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