201201201 - Laserfiche WebLink

Browse

201201201 for tho rcpairs and restoration in a sing4e paymcnt or iii a series oP progress paymenCs as the work is oompleted. ]f the insurnnce or condemnakion prooeeds are not sufficient to repair or resCore the Property, Borrower is not relieved of Borrowcr's oUligation For fhc completion oP such iepair or restoration. Lender or its agent inay m�ke reasonaUla enYriea upon and inapaotions of the Properfy. If it has reasoneble canse, Leudex viay inspeoC the interior caf the iinprovements on the Proper6y: Lender sliall give Borrower notice at the time of or prlox to such nu inSerior inspection specifyiiig such reasonaUlo causa. 8, Borrower's Loan Appliea4fon. Borrower shall be in defnult if, dtiu•ing the Loan�application�roocss, Bormwcr or<uiy persons or ontities acting 2C Che clirection of Borrower or witkt Bormwer's lmowlecfge or consenl gavo materially£alse, misleading, ar inaccuratc infonnntion or statements to Lender(or failed to provide Lendex with material infonnation) in oonnection with tl�e T.oan. M�terial rcpresentations inolucJo, but ere not Timited tq represuntatious concerning Borrower's occupancy af Uie Property as 13w�rower's principal resideuce. 9. Prntection of Lender's Interest in the Property and Rights Under this 5ecurity Instrument. If(n) Borrower fails to perfonn the oovenents a�id agxeen2ents contained in ihis Secm�it'�y InstrumenC, (b}thera is a legal prooeeding that might signiflcantly affect Leuder's inCerest in the Properly and/or rights under khis Sccurity Inshl�menl(such as a proceeding in Uanlauptcy, probaCe, for condemnation or forfeitme, fot enPorccment of a lien whieh may attain priority ovcr t1iis Seeurity Instrumcnt or to enfoxoe laws or regulafions), or(a)Rorrower has aUandoned the Property, ihen Lender may do and pay for wh�fever is reasonable ox appropriaCe to protect Lender's iiiterest in the Pro�erty aud rights mider fhfi� Security Tnstrumenti, includ'uig pirotectiug a�id/or asaessinb the va7ue of the Property, a�id secnring aud/or repairing the Piroperty. Lender'e actions can inolude, buC are n�t lnnite(i to: (a)paying any sutne seouted by a lien which hne��riority over this Security [nshmnent; (b) ap�cariiig in court; nnci(c)paying reasonable atYorneys' fees to protect its interest in the Property andlor rights under tl�is Seotuity Tnstrunient, iucluding its secureci position in a banlauptey proceeding. Seeuxing the Proparty inchidee, btirt is not limited fo, cntering the Pxoporty to make repairs, ohaz�ge locks, replaoe or board up doors pnd wiiidows, drain water Prom pipes, elimin�Ye buiLding or other code violationy or dangerous oonditions, and h�ve uLilitios turned on or off AlthoLigh Lender n��ty take action uncler Chis Scction 9, Lender does not Uave tio do so snd is not nndea•nny du�y or obligation ko do so. It is agreed that Lender incurs no liabilily for not t�lting�ny oc all acCions authorized imder�this Saction 9. Any amowiCs disUiirsed l�y Lendex under this Section 9 shall Ueoome additionnl debt of Borrowcr secm'ed by this Sccurity Instiumenk These amouuts shnll bear intcrest at the Note rals from the date of diabursa�nent Tnd shall be paryable, wiCh suoh infcrest, upon notice from Lcnder to Borrowar requesting payment. If this Sec:�uity InsYrument is pn a leasehold, Borrower shall coinply with all il�e provisions of the Icase. I£ Borrower aoc�uires fee titila to the Property, the leasehold nnci thc fee Citle shall not mcrge unless Lender . agrees T�o the merger ii2�qriking. 10. NI ortgage MsUYanCe. If Lendcr required Mortgage Insw ance as a condition of malcuig the Loaxi, l3orrower shall pay the pretnimns tequired to maij�tain tha Mortg�ge Inetiirance in effect. IP, for any reasnn, fhe Mortgage Ittslu�ancc coverage required by Lcnder ceasas to Ue�uaile�Ule from the morCgago insmer thnC pr�vioiialy provicled aueh insi�rance a�id Boirowev�wxs requ'rred to-make scparaCely designated payments tow�rd Ll�c preiniwns for MorCgage Insurance, Borrower s1v�il1 pny the p��e�niume required to obtain coverage stxbstantially ccltuvalent to the Mortgage 6iew�ance previously in aftact, et fl oosti substantially equivalrn�t to the cost Eo Boirowo��of Ghe Mortg¢ge Insuranca previously in efFcct, from an altern2Co mortga�a�ins�irer sclwted by Lender. IPsI'ibstantially equivalent Mortgage Ilasur�noe wvcrage is not nvnilable, Boi7�ower shell 24000323 RfARASKA-$ingle Femlly-fznnie Mae/ffeddie h1ec UNIFORh1 INSTRUM ENT Form 3028 1101 vn�a o vrn ae�NE�(t�oa) Wollers ICluwef Flnanolal5arvloes Page 8 oP 1l