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20120515�
<br />Late Charges and Funds for Tazes and Insurance or change the amount of the payments. If under the section
<br />titled Acceleration; Remedies, the Property is acquired by Lender, Bonower's right to any insurance policies and
<br />proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the
<br />sums secured by this Security Inshument immediately prior to the acquisition.
<br />Preservation, Maintenance and ProtecHon of the Property; Borrower's Loan Application; Leaseholds.
<br />Bonower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on
<br />the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could zesult in forfeiture of the Property or otherwise materially impair the
<br />lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and
<br />reinsta.te, as provided in section titled Bor'rower's Right to Reinstate, by causing the action or proceeding to be
<br />dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impairment of the lien created by this Security Instrument or Lender's security
<br />interest Borrower shall also be in default if Bonower, during the loan application process, gave materially false or
<br />inaccurate informarion or statements to Lender (or failed to provide Lender with any material information) in
<br />connection with the loan evxdenced by the Note. If this Security Inshument is on a leasehold, Borrower shall
<br />comply with all the provisions of the lease. If Bonower acquires fee title to the Property, the leasehold and the fee
<br />title shall not merge unless Lender agrees to the merger in writing.
<br />Protect3on of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
<br />contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in
<br />the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and
<br />Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority
<br />over this Security Instiument, appearing in court, paying reasonable attomeys' fees and entering on the Properiy to
<br />make repairs. Although Lender may take action under tlus section, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this section shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
<br />interest from the da.te of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender
<br />to Borrower requesting payment
<br />Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this
<br />Security Instrument, Bonower shall pay the premiwns required to maintain the mortgage insurance in effect. If, for
<br />any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall
<br />pay the premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in
<br />effect, at a cost substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect,
<br />from an altemate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is
<br />not available, Bonower shall pay to I.ender each month a sum equa.l to one-twelfth of the yearly mortgage
<br />insurance premium being paid by Bonower when the insurance coverage lapsed or ceased to be in effect. Lender
<br />will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments
<br />may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the
<br />period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained.
<br />Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve,
<br />until the requirement for mortgage insurance ends in accordance with any written agreement between Bonower
<br />and Lender or Applicable Law.
<br />Inspection. Lender or its agent may make reasanable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and sha11 be paid to Lender.
<br />In the event of a total taking of the Properly, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Bortower. In the event of a partial taking of the
<br />Property in which the fair market value of the Property immediately before the taking is equal to or greater than
<br />the amount of the sums secured by tlus Security Instrument immediately before the taking, unless Bonower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of
<br />the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance sha11 be
<br />paid to Bonower. In the event of a partial taking of the Property in wluch the fair market value of the Property
<br />immediately before the taking is less than the amount of the sums secured immediately before the talcing, unless
<br />Bonower and Lender othervvise agree in writing or unless Applicable Law otherwise provides, the proceeds shall
<br />be applied to the sums secured by this Security Instrument whether or not the sums a.re then due.
<br />If the Property is abandoned by Borrower, or if, after nodce by Lender to Borrower .that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within the minimum number of
<br />days established by Applicable Law after the date the notice is given, Lender is authorized to collect and apply the
<br />proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security
<br />Instrument, whether or not then due.
<br />� 2004-201 l Complience Systems, Inc. 9BAD-E30C - 2011L2.0.485
<br />Con9umer Resl Estate - Security Instrument DL2036 Pege 3 of 6 www.compliencesystems.com
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