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<br /> � � �- LOAN N0. 1 5 3 9� 1 4 9 B 1
<br /> � . 96-- �ap��..
<br /> � /1A InsuranCa polclea snd renewals ei►�11 bo a�c�taWo to Lwx�or an�ahall lncltxle a s'.andard monqttpe Clat�e.
<br /> L6i�uw"s�w1i i�w'v'v S�C.�ftt.�h^�.,.'.�.4�:.�!:.!::�^'..��►!!!:�'Q!9.!�L�!f!L?I IPf�l�it�, &xrOWer t11i1)tN0�11�1IV t�iV0I0 LWk�K
<br /> 1 all ncNpts of paki pr�+nluma��xi ranaw�l nottaw.In tFw event ot tosa,8orrowar ahall pNa prampt not�e to th�
<br /> j kuuranca curl�r and L.ocidor.Lottd�r rr�iY�e proc�f of�ot�It not mado ptomptfy by Borrower.
<br /> 1 Unl�Lencier snd Borrow�atherulca�prot►fn wr�l��,lnsucenca p�ocead��i�ati be epplled ta rastoratbn a�rs�alr
<br /> _ � of the Pro�t4y dAm��,�th�racior�tbn or repalr ts cconomtcaUy feas!ble ai�i Lanc�er'c�aCUrfty la no:tassonod.If the
<br /> �asSorA;bn cr repair is not ecorwrnicauy taaslb�a cx Londer's security would be less�ned,tha insurance proceeds shall
<br /> be nppl{od to the aum�lwcurod by thls SOCtulty Instrument,whether or not then due,wNh any excess pald to Borrower.
<br />=�� It Barrowsr abettrdons tha Pr ,or does not answer with�ln 3G days e notice from E.�naer thai tiie li1su�ance carris�
<br /> hae offered to settla a clalm,then e�may cdlect the tnsurance proceeds.Lender may use the prxeeds to ropai�
<br /> or rastara the Pro�erty or to pay sums secured by thls Security I nstrument.whether or not then due.The 30�day pertod
<br /> wiU beqln when the not�e ls�Non.
<br /> # Unless Lender and Borrower othervulse e�ree In w�ttn�,any ap�llcaticn of proceeds to princlpal shatl not extend or
<br /> postpone the due date of the monthly payments refened to In paragraphs 1 and 2 or change the amaunt of the
<br />- _ paymenis. If under pasagraph 21 the Property ts acqulred by Lender,Borrower's right to any I�surance palcles and
<br />, proceeds resulting from damafle to the Property prior to the acquisftion shaU pas9 to Lender to the extent ot the sums
<br />- secured by this S��ty Instrument Immodiately prlor to the acqulsitlon.
<br />= 6.Occup�ncy,Pr�s�rv�tlon�Iltainun�nc�and Prot�ctlon of the Proputy;Bortowei's Loan Appfic�tior;
<br /> �.aaa�holda. Borrower shalt oCCUpy,estab�ish,and use the Pro�ty as Borrower's p►fnclpal residence within sixty days
<br />- after the executton of thls Security Instrument and shall coNintte to xcupy the Nro�erty as tiorrowers principai
<br />- residencc�far at least ane year after the date of occupancy,unless Lende�otherwlse agrees in wrfting,which conser.t
<br /> shail not be unreaso�aWy wfthheld,or unless extenuating clrcumstances exist wh�h are beyond Borrower's controf_
<br /> Br�rrower shall not desiroy.damage or Impalr the Propetty,allow the Praperty to deterioraie,or comm+t waste on the
<br />. _�, P►e�_!�c�war�hall be In default if any fortelture actbn or proceeding,whethei ctvil or criminal,Is begun that In
<br />__� Lenda►'s�ood fafth Judgrr�nt could�esult in fortekure of the Praperty or othenh+lse maten�iy impair iiie iien c�aaia��y
<br /> thls 3ecurify tnsirument or Lender's socuritY interest. Borrowe�may cure such a default srnd reinstate,as provided'on
<br />_=� parag�aph 1 e,by causiny t�a action or proceeding to be dismtssed with a rultng that,U Lender's good faith
<br /> — dete►mtnatbn,preduc9es fortelture of the Bortower's tnteresi In the Property a other material Impairment of the Ilen
<br /> created by thts Security Ins4rume�t or l.ender's security interest. BoROwe�shatl alsa be in defauit ff BeN+rower,during the
<br /> loan applicaibn process,gave materially fafse or inaccurate infomtiatlon c,r statements to Lender(or f��l to provide
<br />-� Lender with any mateNal Intomiatbn)in cannection with the loan evidenced by ti�e Note,including,but ncri limited to,
<br /> - representaUons conceming Borrower's occu ncy ot the Prapeaty as a p�incipal rosklence.lf this Security Instnxna��t ts
<br /> �� or�a leasehoid,Borrower shall comply with 1 the provlstons of the lease. if Borrower acquires fee title to the Properiy,
<br />-`� tha leasahdd and the tee tide sha!!not merge uNess Lendet agrees to the merger tn wr�lny.
<br />�� T.Pnotaction of L�nder's Ri�hts In tha Prapwty If eorrower faiis to perform the covenants and agreements
<br />'�'a contained i�this Secu�ity Instn�me�t,ar the�e is a legal ptoceeding that may slgniFicantly aftect Lerider's�iyhts In the
<br />='- PropeRy(such as a proceedfny tn baniwptcy, probate,for condemnatlo�or foriekure or to er�force laws or
<br /> �eyulatlons),then Lender may do and pay tor whateve�is necessary to protect the value of the Prnpe�t'y and Lender's
<br /> — rights I�the PropeRy. L.ender's actior+s may tndude Payiny any surt�s secured by a Hen which has prlority over tl�s
<br /> Secur�tv Instn�metu.a�oea�tn couK,PaY1n9��e attorneys'tees arxi erderirq on the Propeity to make
<br /> - - re�astrs:Alihouph leneisr may take ectlon under this Para9raph 7,l.eMer aoes nat nave io do so.
<br /> ` My amounts disbursed by Lender�.u�der this para9raph T shaU become add�lonal dabt of Botrower secured by
<br /> ti�i�3scurity Instrument.Untess Borrower and t.ende�agree to other terms ofi payment,thsse amou�ts shall bear
<br /> Interast frorr9 the date d dlsbursemeni ai the Note rate and shal!be payable,wlth IMeresi. uport notke from Lender to
<br /> Bortowe�requesti�p PaYment
<br /> 8.Yort��Ins�nc�. If Lender required mort�Qe insurance as a conditlor�d making the loan secured by thls
<br /> Securky Irtstrument.BorroM►er shali pay the premlums required ta malntaln the mortgage insurance U effect.If,for any
<br /> reason�tha rtwrt�ape insurance coverage re4uked by l.er�der lapses or ceasAS to be tn effect�BoROwer sha11 pay the
<br /> premiums required to obtal�covera�e substa�Ualiy equivetent to the mortsage insurance prevbusty In effect.at a cosi
<br /> substa�iy�y��co tne cos�t�soROw�o�tr,e m«c�a��,�e��oa,siy u����from an aftemate
<br /> �9a�(�u�r e,PProved by Lender.If substanita!!y equivaieM mort9age i�sutance cove►a�e Is not avaitable,
<br /> ;���:;:af!�y ta l�r�°.�°.�ch mor.ih�sum eG!»�to one-twAlfth d the yeady mortgage Insurance premtum be�np
<br /> patd by�arrowe►when the tnsurance caverage IaPsed or cessed to be tn effed.l.ender w`�!ac.cept�we and re!atn these
<br /> - PaYments as a loss resetve(n tleu of mortgape Insurance.Loss teserve payments may no to�ger ise required.ai the
<br /> option of lender.M mort9a9e tnsurancs c�vere�e(in the amount and for the perfods that I..ender requkes)provided by
<br /> an fnsure�approved by lender agaln becomes availabla and ts obtalned. Borrower shall pay the premlums requlred to
<br />- matn�n mortsage(�surance in effect,or to pravide a bss reserve,untY the requlrernent for mortsa�e insurance ends
<br /> in ac.�cor�ance wwithh any wNtten agreernent between Barower and Lender or appiicable law.
<br /> � �. I�ion. l.ender or its agent may make reasonable entries upon and inspedions of the Property. Lend�r
<br />_ _ shail flive Borrawer notke at the Y�roe d or prior to an fnspection specifying reasonable cause for the inspectb�.
<br />- FA�AILY—FRW�/FHLIMCUNlFORMINS7AUMEIiT � ,. • �M�S/�
<br /> = tSC/CMOTNE//0792/9028(9�90)•i PAGE 3 OF 6
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