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201303297 <br /> services and subsequent charges each time remappntgs or similar changes occur which reasonably might <br /> affect such detemunation or certification. Borrower shall also he responsible for the payment of an} tees <br /> imposed by the Federal Emergency Management Aeency in connection with the review of any flood zone <br /> determination resulting troll an objection by Borrower. <br /> If Borrower fails to maintain any of the coverages described above. Lender may obtain insurance coverage, <br /> at Lender's option and Borrower's expense. Lender is under no obligation ro purchase any particular type or <br /> amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, <br /> Borrower's equity in the Property, or the contents of the Properly against any risk. hazard or liability and <br /> might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost <br /> of the insurance coverage so obtained might significantly eyeeed the cost of insurance that Borrower could <br /> have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of <br /> Renower secured by this Security Instrument. Thee amounts shall bear interest at the Note rate from the <br /> date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower <br /> requesting payment. <br /> All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to <br /> disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee <br /> and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates, <br /> If fender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal <br /> notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender. for damage <br /> to, or destruction of, the Property. such policy shall include a standard mortgage clause and shall name <br /> Lender as mortgagee andcr as an additional loss payee. <br /> in the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may <br /> make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in <br /> writing, any insurance proceeds whether or net the underlying insurance was required by Lender shalt be <br /> applied to restoration or repair of the Property, if the restoration or repair is economically feasible and <br /> Lender's security is not lessened, During such repair and restoration period. Lender shall have the right to <br /> hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the <br /> work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken <br /> promptly, Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of <br /> progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law <br /> requires interest to be paid on such insurance proceeds. Lender shall not be required to pay Borrower any <br /> interest or earnings on such proceeds. Fees for public adjusters.or other third patties. retained by Borrower <br /> shad not he paid out of the msuratae proceeds and shall be the sole obligation rot Borrower. If die restoration <br /> or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be <br /> applied to the sums secured by this Security instrument- whether or not then due, with the excess. if any. <br /> paid to Borrower. Such insurance proceeds shall he applied in the order provided for in Section 2. <br /> if Borrower abandons the Property, Lender may tile, negotiate and settle airy available insurance claim and <br /> related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance <br /> carrier has offered to settle a claim, then lender may negotiate and settle the claim. The 30-day pet rod will <br /> begin when the notice is given. In either event- or if Lender acquires the Property under Section 22 or <br /> otherwise. Borrower hereby assigns to Lender ta) Borrower's rights to any insurance proceeds in an amount <br /> not to exceed the amounts unpaid under the Node or this Security instrument- and (b) any other of <br /> Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower)under all <br /> insurance policies covering the Property, insofar as such rights are applicable to the coverage of the <br /> Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts <br /> unpaid tinder the Note or this Security Instrument. whether or not then due. <br /> srPRA3K4-E,gic Fam',y-ramle Mae,'Frelie Mac UNIHOKM INSrR'"aENf Veil r',ALMS , ' °crm t02C 1r0: <br /> cup:e, VVWRANC).1115100 <br /> 'Nai,crs rtlnwer Finery jI Sernc a: 'aJe 7 o' i7 <br /> III 11III 1111111I11111111111111I 1 1111111 111 1III <br />