201205888 - Laserfiche WebLink

Browse

201205888 7� Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or irnpairthe Property, allowthe Property to deteriorate or cormrum�sste on the Property. Whether or not Borrower is residing in the Property, Bol shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition, Uriless it is determined pirsittrot to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the ProlDerry if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with, damage to, or the taluing of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrovier is not relieved of Borrower' a obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon slid Inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrol knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not linited to, representations col Borrower's occupancy of the Property as Borrowor's principal residence - 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower Nis to perform the covenants and agreements contained in This Security Instminent, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankTuptcy, probate, for condemnation or forfeiture, for enforcement of a lien which my attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for wbatuver is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessia.- the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are riot limited to: (a) paying say =a secured by a lien which has priority over this Security Instrument; (b) appearing in court; and I paying reasonable attorneys' fees to protect its interest in the Pro righ or this tc) porty and/or ts and Sccurity bistruml including its secured position in a bankruptcy proceeding- Securing the Property includes, but is'not litaited to, entering the Prop" to make repairs, change lacks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action uaider Ibis Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not laking any or all actions authorized under this Section 9, Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security lustrurnent. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interil upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Leaden agrees to the merger In writing, HHESRASM�,Iw Farn,�,Ferrie VaeeflFrOdim M.i; UMFORM INSFRUMENT 1� MR 1A)l VNT 0 VNIPBAFE) OWWO W.Hurs Kluwer Remold sere. Pay. 7wl 11111 All 1111111111 000ONE9770656