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<br />Ne3028.dot.xml
<br />applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />periy or to pay amounts unpaid under the Note or this Security Instrument, wfiether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Bonower's principal residence
<br />hin 60 days after the execution of this 5ecurity Instrument and sha11 continue to occupy the Property as Borrower's
<br />icipal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
<br />sent sha11 not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Bonower's
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower sha11 not destroy,
<br />�cnage or impair the Property, a11ow the Property to deteriorate or commit waste on the Property. Whether or not
<br />onower is residing in the Property, Borrower sha11 maintain the Property in order to prevent the Property from
<br />�teriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or
<br />storation is not economically feasible, Borrower sha11 promptly repair the Property if damaged to avoid further
<br />�terioration or damage. If insurance or condemnation proceeds aze paid in connection with damage to, or the taking
<br />f, the Property, Borrower shall be responsible for repairing or restoring the Properly only if Lender has released
<br />roceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in
<br />series of progress payments as the work is completed. If the insurance or condemnation proceeds aze not sufficient
<br />� repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair
<br />r restoration.
<br />Lender or its agent may make zeasonable entries upon and inspections of the Properiy. If it has reasonable cause,
<br />ender may inspect the interior of the improvements on the Property. Lender sha11 give Borrower notice at the time
<br />F or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Bonower sha11 be in default if, during the Loan application process,
<br />orrower or any persons or entities acting at the direction of Bonower or with Bonower's knowledge or consent gave
<br />�aterially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with
<br />�aterial information) in connection with the Loan. Material representations include, but are not limited to,
<br />presentations concerning Borrower's occupancy of the Properly as Bonower's principal residence.
<br />9. Protection of Lender's Inter�t in the Property and Rights Under this Security Instrument. If (a)
<br />onower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />�oceeding that might significantly affect Lender's interest in the Properly and/or rights under this Security Instrument
<br />uch as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may
<br />tain priority over fhis Security Instrutnent or to enforce laws or regulations), or (c) Bonower has abandoned the
<br />roperty, then Lender may do and pay for whatever is reasonable or appropriate to protect L.ender's interest in the
<br />roperiy and rights under this Security Instrument, including protecting and/or assessing the value of the Property,
<br />id securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums
<br />�ured by a lien which has priority over this Se�urity Instrument; (b) appearing in court; and (c) paying reasonable
<br />torneys' fees to protect its interest in the Properly and/or rights under this Security Insriument, including its se�cured
<br />�sition in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to
<br />�ake repairs, change locks, replace or boazd up doors and windows, drain water from pipes, eliminate building or
<br />her code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action
<br />ider this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agrced that
<br />ender incurs no liability for not taking any or a11 actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 sha11 become additional debt of Borrower secured by this
<br />;curity Instrument. These amounts sha11 bear interest at the Note rate from the date of disbursement and sha11 be
<br />�yable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Bonower shall comply with a11 the provisions of the lease.
<br />onower sha11 not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease.
<br />orrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower
<br />;quires fee title to the Properiy, the leasehold and the fee title sha11 not merge unless Lender agrees to the merger
<br />i writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower
<br />ia11 pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />�surance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />�surance and Bonower was required to make separately designated payments toward the premiums for Mortgage
<br />�surance, Bonower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage
<br />�surance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance
<br />�eviously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage
<br />�surance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated
<br />�yments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
<br />�yments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve sha11 be non-refundable,
<br />�twithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any
<br />�terest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance
<br />�verage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again
<br />�omes available, is obtained, and Lender requires separately designated payments toward the premiums for
<br />[ortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was
<br />�quired to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay
<br />�e pretniums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until
<br />ender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
<br />ASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMagPc �
<br />3028 1/01 Page 5 of 11 www,docmagic.com
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