201402978 - Laserfiche WebLink

Browse

��14��975 prvmpt notice�o the insurance carrier and L�nder. Lender rnay make raaf�f lass if nat B�rrower. L1nless Lender and B�rrov�er otherwise a re ' p made prom�tly by g e r n wr�t�ng, any r nsurance pra�eeds, whether or no� the und�rlying insurance was requir�d by Lender, sha�I be a. lied t�res the restoration or re a�r is econ� ' p� �oration ar repa�r of the Property, if � m�cally fea�rble and Lend��r s security is nat Iessened. Durrn such re air and res�oration per�ad, Lend�r shaI� have the right to hol d such i nsurance ro � p oppartuni ty ta �ns e�t suc h Pr P ceeds untl� Lender has had an p oper�y to ensure the work has been completed ta Lender's sat�sfaetion pra�ided that such �nspect�on sha�� be undertaken prornptl �. Lender ma disb � y y urse proceeds f�r �he repairs and re�taration in a s�ngle pay�i�ent or �n a series af pro res.� a ments a� � P y the�rork ss camp�eted. L1r�Iess an agreement �s made i n writi ng or A pp�i cab�e Law requires i nterest to be aid an such i ns r Lender sha�l no� be required ta a Borrc�wer p u ance proceeds, p y any interest or earnings an such proceeds. Fees for public adjusters, or o�her third parties, retained by �orrower sha�I na� be a�d o shal� be the soI e�b�i ati on of B orr p �� of the r nsurance prflceeds and g ower. �f the res�orat��n�r repair is n�t econom�catly feasibl�ar Lender's secur�ty would be lessened, the insurance pr�ceeds shall b�� app�ied to th� surns se Instrurnent, vvhethe� �r no� then due v�i�h �h Gur�� by th�s Securtty � e �xcess, �f any, paid to Borr�wer. Such i nsurance proceeds sha�� b�applied �n the order pr��ided fflr�n S�c�ion�. �f Borrawer abandons the Property, L�nd�r ma f�e. n� oti Y , g ate and settie any a�a��ab�e �nsurance cla�m and re�ated matters. If Borrower daes not respond within 34 da insurance earr�er has offered ta se��e a e�at m th Y5 �° a n°t�ce from Lender that the , en Lend�r rnay negotiate and set�ie the claim. The 30-da periad will �egin when the notice is given. in ei�her event, or if Lender ac y 2] or �therwise, Borrower hereb assi n qulres the Prop�rty under Sec�ion y � s ta L�nder�a} Bor;row�er's rights to any ipsurance proceeds in an amount not to exceed the amounts unpaid under the Debt I��strument ar this Securi� any other of Borrower's r�ghts �other than the ri ht F y Instrumen�, and �b} g ta any re��und af unearned prem�ums pai d by B orr��uer} under aI1 insurance po��ci es co�ering the Proper , i nsofar a:a such r the Proper . Lender ma � Yghts are appl�cabl� to the caverage af tY y use the insurance pro�eeds e�the�r t� re a�r or restore the amounts unpaid under the Debt �nstrument �r t ' � �roperty �r to pay hts Secur��y r��strumen�, whether or na�then due, sub ect to the r�ghts of any �ien ho�der wi fh ri ghts to i nsurapce roc eeds a:hat a p are superior to Lender's rights. S. �c�upancy, Borr�wer sha�� ccupy, establish, a:nd us e the Proper�y as Barrawer's principa� residence w�th�n 5Q days after the �xecution c�f th�s Securit In y strument and s ha�� c antl nue to occ upy �l�e Pr�perty as Borrower's principal residence for� a� I�as�flne ��ar a�h�rw�se agrees in vvritin Y after the date of❑ccupaney, unl�ss Lender �, which consen� sha�� not be G�nreasonabiy wi�hheld or unless crr�umstances ex�st wh�ch are beyond Borro�e�r's control. extenuat�ng f. Preser�ation, Ma�ntenan�e and Pratectifln of the Pra ert - ' des�roy, damage ar �m ai r the Pr� er A Y� Insp��tl°ns. B orro�ver shal 1 not p p �y, a�1 ow the Pr�perty ta de�er�ora�e or cam m it waste on the Pro er UVhether or n�t B arr�wer �s res�d i ng �n the �'ro ert , B orrc� p �' pre�en�the Pr�per from deteri or ' p �' We�' s ha�� mai n�a�n the Pr�pe�-ty 1 n order to �Y at�ng vr decr-eas�ng �n �alu�� due to its condition. L]nless it is pursuan��a Sec��on 4 that repai r or restora�i on �E s not econ determ�ned omic;al�y feasib�e, Barrower shall promptly reparr the Prap�rt� i f damaged to a�oi d further deteri�rat�on �r dam ag�. If x nsurance or condemna�i on proc��ds are paid �n c�nnecti�n with damage �o, or the �akin af, the Pro repai ring or restori n the Pr❑ ert � - P�r�� B orrvwer shal l be res pansi bl e for � p y on�y �f Ler�der has re�eas�ed pro��eds f�r such pur oses. Lende� rn disburse proce�ds far the repairs and rest�ratio� �n a sin Ie p ay �he work is c�mple�ed. If the insurance or g paym�n� °r �n a series of progress pa�ments as ��ndemnat�an procf�eds are nat sufficzent t� repair or restore the Praperty, B orr�wer is no�rel i e�ed of B orrawer's ab�i ati on f � Lender or i�s a ent m � o� �he c�mplet�on of such repalr or r�storati�n. g ay make reasonabl e entrx es up�p and i nspecti ons of �he Pro er . reasanable cause, Lender may insp�ct the inter�or of t��e irr� r, P tY If it has p avernents on the Pr�perty. Lender sha�� gi�e Barrower not i ce at the ti me of ar prior to such a:n i nteri or i ns pe ctian speci fy�ng such reasana�Ie cause. 7. Borrawer's Loan App��cation. Bai•r�wer shal� b�� in d�fau�� if, durxn� the L�an applicat��n pr�cess, Borrower ar any pers�ns or ent�tYes ac�in at the direct�o � n ❑f B�rrawe� ❑r �th Borrower's Q 2�14 G uardianDocs Barr�we�'In1 tials NE�Ios�;d-End Junior Li�n Security Instrument�I?1�31:?�10) �P�ge 5 of I3 pages� H�#4829-1�45-G456 � � r � � � � � , . � � � ti�� �