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LOAN #: 66352
<br />and any mortgage insurance required by Lender under this Deed of Trust; and (c) leasehold payments
<br />or ground rents on the Property, if any.
<br />4. Hazard Insurance. You shall keep the Property insured against loss by fire, hazards included
<br />within the term "extended coverage" and any other hazards, including floods or flooding, for which we
<br />require insurance.This insurance shall be maintained in the amounts and for the periods that we require.
<br />You may choose the insurer to provide this coverage. Insurance policies and renewals shall be acceptable
<br />to us and shall include a standard mortgagee clause. If we require, you shall promptly give us all receipts
<br />of paid premiums and renewal notices. If you fail to maintain coverage as required in this section, you
<br />authorize us to obtain such coverage as we in our sole discretion determine appropriate to protect our
<br />interest in the Property in accordance with the provisions in Section 6. You understand and agree that
<br />any coverage we purchase may cover only our interest in the Property and may not cover your interest in
<br />the Property or any personal property therein. You also understand and agree that the premium for any
<br />such insurance may be higher than the premium you would pay for such insurance. You shall promptly
<br />notify the insurer and us of any loss. We may make proof of loss if you do not promptly do so.
<br />We may also, at our option and on your behalf, adjust and compromise any claims under the insur-
<br />ance, give releases or acquittances to the insurance company in connection with the settlement of any
<br />claim and collect and receive insurance proceeds. You appoint us as your attorney-in-fact to do all of the
<br />foregoing, which appointment you understand and agree is irrevocable, coupled with an interest with full
<br />power of substitution and shall not be affected by your subsequent disability or incompetence.
<br />Insurance proceeds shall be applied to restore or repair the Property damaged, if restoration or repair
<br />is economically feasible and our security would not be lessened. Otherwise, insurance proceeds shall
<br />be applied to sums secured by this Deed of Trust, whether or not then due, with any excess paid to you.
<br />If you abandon the Property, or do not answer within 30 days after we give notice to you that the insurer
<br />has offered to settle a claim, then we may collect and use the proceeds to repair or restore the Property
<br />or to pay sums secured by this Deed of Trust, whether or not then due. Any application of proceeds to
<br />principal shall not require us to extend or postpone the due date of monthly payments or change the
<br />amount of monthly payments. If we acquire the Property at a forced sale following your default, your right
<br />to any insurance proceeds resulting from damage to the Property prior to the acquisition shall pass to
<br />us to the extent of the sums secured by this Deed of Trust immediately prior to the acquisition.
<br />You shall not permit any condition to exist on the Property which would, in any way, invalidate the
<br />insurance coverage on the Property.
<br />5. Preservation, Maintenance and Protection of the Property; Loan Application; Leaseholds.
<br />You shall not destroy, damage or substantially change the Property, allow the Property to deteriorate,
<br />or commit waste. You shall be in default if any forfeiture action or proceeding, whether civil or criminal,
<br />is begun that in our good faith judgment could result in forfeiture of the Property or otherwise materially
<br />impair the lien created by this Deed of Trust or our security interest. You may cure such a default, as
<br />provided in Section 17, by causing the action or proceeding to be dismissed with a ruling that, in our good
<br />faith determination, precludes forfeiture of your interest in the Property or other material impairment of
<br />the lien created by this Deed of Trust or our security interest. You shall also be in default if you, during
<br />the loan application process, gave materially false or inaccurate information or statements to us (or failed
<br />to provide us with any material information) in connection with the loan evidenced by the Agreement,
<br />including, but not limited to, representations concerning your occupancy of the Property as a principal
<br />residence. If this Deed of Trust is on a leasehold, you shall comply with the lease. You shall not surrender
<br />the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. You shall
<br />not, without our express written consent, alter or amend the ground lease. If you acquire fee title to the
<br />Property, the leasehold and fee title shall not merge unless we agree to the merger in writing.
<br />6. Protection of Our Rights in the Property; Mortgage Insurance. If you fail to perform the
<br />covenants and agreements contained in this Deed of Trust, or there is a legal proceeding that may
<br />significantly affect our rights in the Property (such as a proceeding in bankruptcy, probate, for condem-
<br />nation or forfeiture or to enforce laws or regulations), then we may do, and pay for, anything necessary
<br />to protect the Property's value and our rights in the Property. Our actions may include paying any sums
<br />secured by a lien which has priority over this Deed of Trust or over any advance under the Agreement or
<br />this Deed of Trust, appearing in court, paying reasonable attorney's fees, paying any sums which you are
<br />required to pay under this Deed of Trust and entering on the Property to make repairs. We do not have
<br />to take any action we are permitted to take under this Section; and amounts we pay under this Section
<br />shall become additional debts you owe us and shall be secured by this Deed of Trust. These amounts
<br />shall bear interest from the disbursement date at the rate established under the Agreement and shall
<br />be payable, with interest, upon our request. If we required mortgage insurance as a condition of making
<br />the loan secured by this Deed of Trust, you shall pay the premiums for such insurance until such time
<br />as the requirement for the insurance terminates.
<br />7. Inspection. We may enter and inspect the Property at any reasonable time and upon reason-
<br />able notice.
<br />8. Condemnation. The proceeds of any award for damages, direct or consequential, in connection
<br />with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemna-
<br />tion, are hereby assigned and shall be paid to us. If the Property is abandoned, or if, after notice by us
<br />to you that the condemnor offers to make an award or settle a claim for damages, you fail to respond to
<br />us within 30 days after the date the notice is given, we are authorized to collect and apply the proceeds,
<br />at our option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust,
<br />NE — DEED OF TRUST — Single Family — HELOC — HC# 4835-4419-2614v2
<br />ICE Mortgage Technology, Inc. Page 3 of 6
<br />NEUHLCDE 1018
<br />GHLC19DE (CLS)
<br />20230387,
<br />
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