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201502553 Security Instrument, whether or not then due, with any excess paid t�o Borrower. If Borrower abandons the Property,ar does not answer witl-iin the number of days prescrnbed by Applicable Law as set farth in a notice from Lender to Borrower that the insu:rance carrier has oFfered to settle a claim, then Lender may collect the insurance proceeds. Leizder may use the proceeds to repair or restore tYne Property or to pay sums secured by this Security Instrument,whether or not then due.The period of time for Borrower to answer as set forth in the notice will begin when the notice is given. Unless Lender and Borrower oth�erwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the payments due under the Contract or cha�age the amount of the payments. If under the section titled Acceleration; Remedies, the Property is acquired by L,ender, Borrower's right to any insurance policies and proceeds resulting from dama;e to the Property prior to the acqtusition shall pass to Lender to the extent of the sums secured by this Security InstrLiment immedi�tely priar to the acquisition. Preservation, Nlaintenance an�d Protection of the Prope�rty; Borrower's Loan Application; Leaseholds. Borrower shall not destroy, dama�ge or impair the Property, al�ow the Property to deteriorate, or commit waste on the Property. Borrower shall be iii default if any forfeiture action or proceeding, whether civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security In;�trument or Lender's security interest. Bon�ower may cure such a default and reinstate, as provided in section titled Borrower's Right to R:einstate, by causing the action or proceeding to be dismissed with a rulinb that,in LE;nder's good faith determination,precludes forfeiture of the Borrower's interest in the Property or other material iinpairment of the lien created by this Security Instrument or Lender's security interest.Borrower shall also be iri default if Borrower, during the loan appiicalion process,gave materially false or inaccurate information or statem.ents to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Contract. If this Se:c�irity Instnunent is on a leasehold, Bonower shall compiy with all the provisions of the lease. If Borrower acquir�s fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in wriCing. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and aareements contained in this Security Instrument, or there is a legal proceeding that rnay significantly aPfect Lender's r•ights in the Property (such as a proceedi:ng in bankniptcy, probate, far condemnation or forfeiture or to enforce laws ar regulations), then Lender may do and pay For whatever is necessary t� protect the value of the Property and Lender's rights in the Property.Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, ap��earing in court,paying reasonable atton�eys'fees and entering on the Property to make repairs.Although Lender may take action under this sectxon,Lender does not have to do so. Any amounts disbursed by Lender under this section shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbt�rsement at the same rate assessed on ad.vances under the Contract and shall be payable,with interest,upon notic��from Lender to Borrower requesting payment. Inspection. Lender or its a�ent inay make reasonable entries upon and �nspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection sp�cifyiilg reasonable cause for the inspection. Condemnation.The proceeds of'any award or claim far damages, direct or consequential, in comZection with any condemnation or other taking of any part of the Property, or 1:ar conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of�the Property, the proceeds sh�all be applied to the sums secured by this Sect�rity Instniment, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the stuns secured by this Security Instrument imlmediately before the taking, unless Bonower and Lender otherwise a�ree in writing,the sums secured by this Security Instn�ment shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) Che total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balatzce shall be paid to Boirower. In the event of a partial taking of the Property in whi.ch the fair market value of the Property O 20a4-2014 CompGnnce Systems,Ina 4953-60C1-2-013L2.3.1.803 Consumer Real Estate-Security lns[rmncnt DI.2036 Page 3 of 7 www.compGancesystems.com