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��14��5��
<br /> �ar��of the Proper�y is su�jec�t� a �ien wh�ch can at�ain priority aver this Security Instrumen�, Lender may
<br /> gi�e Borrower a no�ice identify�ng the lien. Wi�hin �� days o� the date on which tha� notic� is given,
<br /> Borr�wer shall satisfy the [ien ar take ane or more flf fhe actians set fvr�h abo�e in fihis Section 4.
<br /> Lender may require Borrower t� pay a one��ime charge for a real estate tax verif'rcation andl�r
<br /> reparting servic� used by Lender in connection wi�h this Loan.
<br /> 5. F�r�p�rty In�urar���. Borrowe� shall keep the impravem�nts now existing �r hereafter erec�ed
<br /> on the Property insured agains� loss by fire, ha�ards included within the term "extended covera�e," and
<br /> any o�h�r hazards including, bu� not limited to, earthquakes and fl�ods, f�r which Lend�r r�quires
<br /> insurance. This insurance sha11 �� mainta�ned �n the amounts ��nclud�ng deductib(e leve�s} and far the
<br /> �eriods �hat Lender requires, What Lender requires pursuant t❑ the preceding sentences can �hange
<br /> during the term of th� Loan. Th� insurance carrier providing the insurance shali be chosen by Barrower
<br /> subjec�to Lender's r�ght to disappro�e Borrvwer's �hoice, which �ight shall not be exercise unr�asonably.
<br /> Lender may r�quire Borrow�r to pay, in c�nnect�on w�th this Lvan, e�ther: �a} a �ne-time charge for�lood
<br /> zane determinativn, certifi�ation and �rac��ng s�rvices; or ��} a one��ime charge for flo�d zone
<br /> de�errnination and certifica�ion services and subsequent charg�s each tim� remappings or similar
<br /> changes vccu�which reasona��y migh� affect such de#erminati�n or certificati�n. Borrower sha�� aiso b�
<br /> r�sponsible f�r the payment of any fees imposed by the Fed�ral �mergency Management Agency in
<br /> connection w�th the re�iew of any flood zone det�rmination resulting from an o��ection �y Borrow�r.
<br /> If Borrow�r fails to maintain any of the c�v�rages descri�ed above, Lender may obtain �nsurance
<br /> Gaverage, at Lender's opfiion and Borrower's expense, Lend�r is under no obligatian �o purchase.any
<br /> par�icular type or amount of co�erage, Therefor�, such coverage shall c�v�r Lender, but might or might
<br /> not pro�ect Borrower, Bo�rawer's equi�y in the P�operty, or the contents of the Property, against any risk,
<br /> hazard or �iability and might pr��ide greater or lesser c�verage fhan was �reviously in effec�, Borrower
<br /> acknowledg�s that the cost �f�he insurance co�erage s� obtained m�ght significantly exceed the cost of
<br /> insurance that Borrflwer could have obtained. Any amaunts dis�ursed by Lender under this Section �
<br /> shall becom�additionai deb�of B�rrower secured by this Security Ins�rument. These amaunfs shall bear
<br /> in�erest a� the Note rate from fhe date �f disbursement and shal� be payable, with su�h interest, upan
<br /> no�ice fram Lender to Borrower requesting payment.
<br /> All insurance polic�es required by Lender and ren�wals of sucn policies shall �e su�ject to Lender's
<br /> right to disappro�e such pvlicies, sha�� �nclude a standard m�r�gage clause, and sha�l name Lender as
<br /> mortgag�� andlor as an additionai ioss payee, �ender shal� ha�e the right to ha�d the policies and
<br /> renewal certificates, If Lender r�quires, Borrow�r shall pramp�ly give �� Lender all receip�s of paid
<br /> premiums and renewal natices. If Borrower ab�a�ns any f�rm of �nsurance coverage, nat a�herw�s�
<br /> �equired by Lender, f�r damag� �o, or des�ruc�ion of, �he Pro�er�y, such policy shall include a standard
<br /> mor�gage clause and shall name Lender as mort�ag�e andlar as an additionai loss �ayee.
<br /> �n the event of I�ss, Borrower shall giv� prompt n�ti�e �o the insuranc� carrier and Lender. Lender
<br /> may make proof of I�ss if not made promptly �y B�rrower. Uni�ss Lender a�d Borrower otherwise agree
<br /> in writing, any insuran�e proceeds, wheth�r or not �he underlying insuranc� was required by Lender,
<br /> shall be applied #o restorafi�n or repair of �he Property, if the restoration or repair�is economically
<br /> feasible and Lender's securi�y is not lessened. During such repair and rest�ration period, Lender shall
<br /> have the r'rght �o hold such insuranc� proceeds un�il Lender has had �n oppor�unity t� inspec# such
<br /> Proper�y ta ensure the wo�k has be�n com�le�ed �o Lender's satisfac�i�n, pr�vided tha# such insp�ction
<br /> shall �e undertaken pr�mptly, Lender may disburse pr�ceeds for the repairs and restaration in a single
<br /> payment or in a series of�ro�ress �aym�nts as the work is comp�eted. Unless an agreemenf �s made �n
<br /> writing or Applicable Law requires interest t� be paid on sucn insurance proceeds, Lender shall nvt be
<br /> r�quired �o pay Barrawer any interest or earnings ❑n such �raceeds. F�es f�r �u�lic adjusters, or o�her
<br /> �hird parties, retained �y Borrawer shall no� �e paid out of the insurance proceeds and shal� be the sole
<br /> obligation af Bor��wer. �f�he restoration or repair is no�economical�y feasib�e ar Lender's securi�y would
<br /> be lessened, the insuran�e proceeds shall be applisd �o��he sums secured by th�s Security Instrum�n�,
<br /> whe�her or n�� �hen due, w�th �he excess, �f any, paid �� Borrower. Such insurance �roceeds shali be
<br /> app�ied in the order provided far in S�ct��n �.
<br /> If Borrower a�andons the Praper�y, Lender may file, neg�tiate and s��tle any available insurance
<br /> claim and related ma�ters. If Bo�rower �o�s nat respond within 3U days to a notice frc�m Lend�r thaf �he
<br /> insurance carrier has offered to� settle a claim, then Lender may negvtiate and settie tne claim. The
<br /> 3a-day period �rvilf begEn when �he notice is given. In either ev�nt, or if Lender� acquir�s �he Prc�perty
<br /> und�r 5ectian �� ar vtherwise, Borro�er hereby assigns fo Lend�r�a} Borrawer's rights t� any insuran�e
<br /> proceeds �n an arnount not to exceed the amounts unpa�d under the Note or th�s Security Ins�rument,
<br /> and �b} any o�h�r of Borrow�r's righ�s �other than the right ta any r�fund af unearned premiums paid by
<br /> Borrower} under all insurance pof icies c���ring the Praper�y, insofar as such rights are appl�cable to the
<br /> coverage of �he Praper�y. Lender may use �he insurance proce�ds either to repair or restore the
<br /> Property or to pay amounts un�ai� under the Nat�or this Security lnstrumen�, whether or no#then due.
<br /> {Page 5 af 1�}
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