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2� 17�2482 Lender�o Barrower that�he insurance carr�er has offered �a se�t�� a claim, �hen Lender may col�ec��he insurance proceeds. Lender ma� use the proceeds to repair or resto�•e �he Property or to pay surns secured by this Security Instrumen�, whe�l�er o�- not then due. T�e period �f�ime for Borrov�er ta ansvver as set for�h �n the nat�ce w�ll begin v�hen the notice is g�Wen. Unless Lender and Borr�wer o�herw�se agree in wri�ing, any app�ica�iori�f pra�eeds�o principal shal�not e�tend or postpone �he due date of the paymen�s referred to in �he sec��on �i��ed Payment �f Pr�ncipa� and Interest; Prepayment and La�e Charges or change the amount of the payments. If under�he sec��on�itled Acceleration; Remedies, �he Praper�y is a�quired by Lender, Borrower's righ��o any rnsurance �ol�cies and pro�eeds r�su�ting fram damage�o�he Proper�y prior to the acqu�si�ian sha1�pass to L�nder tn the ex�en�of�he sums secured by th�s Securi��ns�rument immedia�ely prior�o the acquisi�Yan. Preser�at�on, Maintenance and Protection of the Property; Borrower's L�an App�ica��an; Leaseho�dS. Borrav�er sha�l no�destroy, damage or impair�he Proper�y, a�lov�r�he Proper�y to deteriorate, or commit v�ras�e on the Proper�y. Borrower sha�l be in defauXt �f any forfe��ure ac�ion or praceed�ng, whe�her civi� ar cr�minal, �s begun�hat in Lend�r's gofld fai�h j udgment�ould result in farfeiture of the Property ar otherwise materia�ly�mpa�r� �he l�en crea�ed by this S�curity �nstrument or Lender's security �nteres�. Borrower rnay cure such a defaul� and reins�a�e, ,as pro�ided �n seG�ion��ied Borrower's R�ght to Reinstate, by causing the actian ar praceed�ng�a he d�smissed v�ith a ruling tha�, in Lender's good faith determ�natian, prec�udes forfei�ure �f the B�rrower's in�eres� in �he P�operty ar ather ma�eria� impairmen� of the l�en crea�ed by �h�s Securi#y �nstrurnent or L�nd�r's security xn�erest. Bor�•ower sha�l also �be in default if Borrov�rer, during �he �oan appl��a�ian process, ga�e ma�er�a�ly false or inaccurate informa�ion or statements ta Lender �or failed�a pro�xde Lender vv��h any material informa��o�) in connec�ion v��th �he �aa�� e�ider�ced by �he Note. If�h�s Se�ur��.y Ins�rumen� is on a �easehold, Borrov�rer sha11 compiy wi�h ail�he provisions of the lease. �f Borrov�er acquires fee�i�le ta the Proper�y,the�easehold and�he fee title sha��no�merge unless Lender agrees�o�he merger in wr�ting. Pro�ection af Lender's Rights in the Property. �f Barrower fa�ls �o perform �he coWenants and agreements �on�ained in this Securi�y Ins�rumen�, nr�here is a lega�proceeding�hat may significan��y aff�ct Lender's rights in �he Prope�r-�y �su�h as a proceeding in bankruptcy, pral�at�, for candemna�ian or forfeiture or�o e�f�rce �aws or r�guia��ons�, �hen Lender� may do and pay fflr w�atever �s necessary ta pro�ec� the �alue of the Property and L�nder's rights �n the Property. Lender's actxons may i��ude paying any sums secured by a 1�en which has priori�y aver this Se�ur��y �nstrumen�, appear�ng�n cou��,paying reasona�b��a��orneys' fees and en�ering on the Proper�y�� make repairs.Al�hough Lender may take act�on under�his sec�ian, Lender does no�hav�to da so. Any amou��s disbursed by Lender und�r th�s sec��on sha�l become addi�ional d�bt of Borrower secured by th�s Secur��y �nstrumen�. Un�ess Barrower and Lender agree to a�her �erms of payment, �hese amoun�s sha�� bear interest from �he da�e of disbursemen� at �he No�e rate and sha11 �e payab�e, vsr��h in�eres�, upan notice from Lender�o Borrawer r�questing payment. Mo�tgage Insurance. If Lend�r required mor�gage insurance as a condi��on of making the �oan secured by this Se�uri�y Instrum�n�, Borrawer sha�1 pay the prem�ums requ�red to main�ain �he mor�gage insurance in eff�ct. �f, far any reason, the mortgage insurance co�erage required by Lender lapses �r ceases �� b� in �ffect, Borr�vver shal� pay�he prem.�ums required�a ob�ain coverage substan�ially equ��alent�o�he mortgage insuran�e pr�vious�y in effec�, at a cost subs�an��ally equi�alen�to�he c�st�o Borrov�er of�he mar�gage �nsurance pre�iausly in effect, from an ai�erna�e mar�gage �nsurer appro�ed by Lender. If substantially equi�alent mor�gage �nsurance co�erage is na� a�ailahle, Borrawer shal� pay �o Lender each mon�h a sum equal to one-twelfth of�he year�y n�or�gage . insurance premium being pai�by Borrov�er when the insurance cnverage lapsed or ceased to�e in effect. Lender w�l� accept, use and r��ain these payments as a loss reser�e in ��eu of mortgage �nsurance. Loss reser�e paymen�s may no longer be required, at �he option of Lender, if mor�gage insuran�e coWerage ��n �he amourit and far�he period that Lender requires� provided by an insurer approved by Lender again b�comes avai�able and �s ob�a�ned. Borr�v�er sha�� pay the prem�uins required�o main�ain mor�gage insurance �n effect, or�o pra�vide a lflss reserve, un�il �he requiremen� for mor�gage �nsurance ends in aCcordance wi�h any wri�ten agre�men� �etween Borrower and Lender or App�icab�e Lav�. Inspection. Lender or �ts agen� may make reasonable en�ries upon and inspec�ians of the Praperty. Lender shall g��e Borra�er notice at�he��me of or pr�or�a an inspec��on sp�Gifying reasonab�e cause foz the inspec�ion. C�2004-2016 Cflmp�iai3ce SysEems,�11C.Ct��]�C��C-��Sd-Zfl�C7.23O,�,$ Cansunler Reai Estate-Security Iristrument DL2�36 Page 3 of 7 www.com�liancesyste�ns.�am