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<br /> j periods that Leader requi�s. 'IT�e 6bsu3ance carrier providing the ins�uance shaI!be chasen by�5rrower��tB�er� � . . _-
<br /> - � ��` `: ' - appravat wh�cb shall aat be�asonably witt�etd. If Bmrawer fails to maintain coverage described ahave.Lender may.at . �� :: ,
<br /> ::="__ `.� r• ' Lcndetk aptioa,obt�n.coverage�m psoflect Lender's ri g hts in the Property in accoidance wittr Qaragraph 7. � : • , --
<br /> =�-�:.�..��. , ' Al!ins�uance pnIisies and tenewals shali 6e acceptable to I.ender aad s�al!incWde a standard mortgage clause. Ixader c� ` � `. ;. _
<br /> ;:��: . „� . shall have the rigt±t to'hoid the policies and cenewals. if Lender requiscs.Borrovrer shall promptJy give to Lender all receipts , , � � _
<br /> '�'� � ' ' of paid premiums and cenewal notices. In the eveat of loss.Borrower shall give promgt aorice to the insurance camier and �. . . `� �
<br /> --_ ; �� ` Lxader. Lender rna make of oFlass if not made 'om d Borrower.� . ` •�`'�•: .
<br /> __ Y Pm Pr P Y�Y . . ':� ;;�
<br /> -- ',�`; . . Unless.�Lender�d Borrower otherwise agree in writing.u�suraace pmcee+ds shail be applied to restoration or reQair of �• „ • . --
<br /> - _ , - - tile Piopert3'damaged. if the restontion or repair�s e�onomicaliy feasitlle and Lend+er's security is aot lessened. If the . ' � ..`'
<br /> ` ` � . � restoratian or nepair is not ec.onomici�UUy feasible or Lenderk security would be lessened, the insurance pmcetds shall 6e ' •
<br /> c
<br /> � Q � �=�r--^'� applied to We sums secured by.this Securiry.Insuvmen�whether or not then due,with any excess paiB to Borrower. If ` �;� �.` `�
<br /> --- _ Borrower abaudans tfle i�raperty.or dues aot e�wer within 30 days a natice ftam Lender that the insutartce cazrier has . :�,.°.-� _' �-- �_
<br /> �.•.--..s .s_"� ..U, - . =°�-�-�-.-
<br /> offeied to settle a claim,then Lender may coAect the insurance proc�ds. Lender may use the prace�ds w repair or restose -- -'T�;'--_.• � , ,
<br /> r the Property or to pay sums secured 6y this Secur►ty Instrameot,vi6ether or not then due. The 3Q-day pr.riod will bega►cvhen ' • - � . : . �
<br /> J�'� • `'�, the aotice is givcn. � � 1 � . . . .
<br /> � �• � � Unless Lender and Borrower othera+ise ag�e in writing,any applire�on of proceeds to principal sl�a11 not`extend or " • • - ,-
<br /> ��"' =''�t'�,-;-- pastpone the dae date of the montlily paymenrs s�ferred to in paragmphs i and 2 or change the amounr of the paymenrs. If : �•.<: .;.
<br /> . . ander paragraph 21 the Properry is acc}uired 6y Lender. Borrower's rig6t to any insurance policies and pioceeds resutqng ` - •-
<br />-- , _•�� ' from damage to tfie Property prior to the acquisition shall pass w Lender to the extent of tice sums secured by this Security . , •
<br />- • Instrument immediate}y prior w the acquisition. � �;. .
<br />= T � 6. Occnpancy, Preservat�an, Main4enaace sIId Protection of the Property; Borrower's Iaan Appltration; = . . �.
<br /> ��`, �• .,� " Leaseholds. Bbrrower shall occupy.establish,and nse the Property as Borrower's principa;resideBCe within siaiy days after . ' • .
<br /> ; ',_ the execation of this Security Instnunent and shaU continue to accupy the.Pronerty as Bamower's principal iesiQence for at ""�� �.
<br /> � ''���': ' least one year aftet the daze of oocupancy, unless Lender otherwise agees in v�riting, which cansent shall not 6e • , •
<br /> • unteasonably withheld,or unless e�tenuating ci�umstances exiss which are beyand Bormwer's control. Borrower shall nnt ' . • � _
<br />- - destroy,damage or impair the Fropeny.allow the Fcaperty to deteriorate.or commit waste on ihe Property. Borrower s}rdll � .." . "
<br /> �.. ; - be in defaWt ff any forfeitu:e action or proceeding,whetiier civil or criminal,is begun that in Lender's gond faith judgment . ; `
<br /> •.��i,_:: ; coutd c�svlt in forfeitute of the Fcoperty or othera+ise mazerially impair die lien created by this Security Instrument or • �.;` ;
<br /> � ' ` -'` � Lender's s ' intecest Bormwer ma�r cure such a defaWt and reinstate,as ided in h IS,by q�sin the action -
<br />- . .:..,:� • . --- ----�------�--��'-------•-----�- � g - -- -- =- '--'"�.•.
<br /> �°-`-`� �--�-�-'�--
<br /> •� _%�� ' or proceed�ng to be dism�ssed actfi a iulu�g fhaf,in I.endei's good faifii de�eim�nauon,prec udes or�eiture of tiie Boriower`s • . �.���.`
<br /> �;.�� imerest u►the ProperCy or other material impainttent of the lien cteated by[his Security insirument ar Lender's secvrity V , '' %��
<br /> "; ° " • �.� 'inter�Y. Borrower shall also be in defaolt if Bormwer. during the loan application process, gave materially false or � �.r �,�.`�Lt", ��
<br /> ,.�:� .,•��,,:
<br /> ; inaccurate�informa6on or statemenu to Lender(or fa�ed to pnnvide Lender with any material information)in connection with ,. � � . :.--.`�
<br /> - N•
<br /> . ,.
<br />-. `" •-+-_�� � =-�-� I the loan evidenced by the Nate, inclu ' but aot limited to. ce sentations concemin Borrower's occu ancy of the • - - •• -
<br /> i�� ��` ` - Propeitg as a principa]resldence. If this S�ecun'ty Insirument u on a!�e-hol�Borrower sliall comply with all fhe provisions - -. -. .��
<br /> � .,.. � : � of the lease. If Bmmwer acquires fee title to the Property,the leasehold and the fee title shall not merge unless I.ender agcees ,
<br />- to the merger in writing. � _ . ;` `
<br /> ,. • 7. Peotectfon of D.ender's Rtgdts in t6e Propert9 If Borcower fails to perform the covenants and agreements - � �
<br /> ag ee
<br /> .. contame�in thjs Security Instinimen� or there is a legal proceeding that may significantly affect Lender's rights in the .. _ . . •r���, ;
<br /> z�� • • ' Property(sach as a procxeding m bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations),then , " ;;
<br /> ' � •. Lender may do and pay for whatever is necessary to protect the value of the Property and l.ender's rights in the Property. • � `'�:��
<br /> Lender's actions may include paying any sums secured by a lien whicb has paority o�•er ti�is Security Inswment,appearing � ,¢�'
<br /> ". ". . in ccwt,paying rea�onab?e�ttomeys'feas and entering on the Property to make te�mirs.Although[.ender may take acrion • =�"� � .
<br /> <+�;-��• • under ttvs paragraph 7,Lender daes not have w do so. � • ` '
<br /> ;t , �� ' My amovnis disbuised by Lender mzder this paragraph 7 shall become addirional debt of�orrower secured by this --"-���: � �;,:�
<br /> � ara a
<br /> � . Securiry Instrument. Unless Barrower and Lender agree to other tem►s of paymenG these amounts shall bear interest from the ; , �;��.
<br /> __�• ' . : ' : ; Pate�ondisbursement at the Note rate and shaU be payable,with inteiest,upon�ouce frnm Lender to Borrower requesting ���� •�'
<br /> , ..
<br />'3. v � ' , 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secu�ed by this . ' •� ,��' -' -
<br /> i��" �' _ ' . . Security Instrument,Borrower shaU pay the premiums required to maintain the mortgage insurance in effect. If.for any ,�
<br /> • - reason. t he mortgage insurance coverage require d by L en der 1apses or ceases to be in e f fect, Borrower s h a 1! pay the • • � � , .
<br /> -� �• ' premiums requined to obtain wverage substan6ally equivalent to the mortgage insurance previously in effec� at a cost . . '
<br /> �� � � ' substantially equivatent to the cost to Borrower of the mongage insurance previously in effect,from an attemate mortgage
<br /> �' � �- insurer approved by Lender. If substantially equivalent mortgage insutance covera�e is not available.Borrower shall pay to . _ . � _ :� .
<br />��� ._ ' � Leader each month a sum eqnal to one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the � ' �.� ,'� �
<br /> ' i-'' � ,.� insurance coverage lapsed or ceased to be in effect. Lender will accep�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 �r . . �
<br /> . coverage(in the amount and for the period that Lender requires)provided by an insurer approved foy Lender again becomes t•
<br /> availa6le and is obtained.Borrower shall pay the premiums required to maint�in mortgage insurance in effect,or to provide a , ,
<br /> i
<br />_ � : toss reserve.undl the reqairement for mortgage insurance ends in accordance with any written agreement between Borrower - •
<br /> - r � '' '.•.� and Lender or applicabte law. • . .
<br /> 9. Inspecltoe. Lender or its agent may make reasonable entries upon and inspections of the Properry. Lender shall . • .
<br />�� � � give Borrower nouce at the dme of or prior to an inspection specifying reasonable cause far the inspection. � .
<br /> '� � 10. Condemnat�aa. The proceeds of any award or claim for damages.d'uect or consequential,in connection with any � ,.
<br />;=z�+:'�.. '..^�.� �� Singte Family—Fnnnie MadFredafe Mas U',VIFORM INSTEt1JMENT--Unifortn Covenanro 9I90 (page 3 nJb page.+l ,,. �
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