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200411796
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />Borrower: (a) a,, rees in writing to the payment of the obligation secured by the lien in a manner acceptable
<br />to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith
<br />by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to
<br />prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings
<br />are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating
<br />the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien
<br />which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the
<br />lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or
<br />more of the actions set forth above in this Section 4.
<br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and /or
<br />reporting servio_ used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on
<br />the Property insured against loss by fire, hazards included within the term "extended coverage," and any
<br />other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance.
<br />This insurance shall be maintained in the amounts (including deductible levels) and for the periods that
<br />Lender require . `.Vliat Lender requires pursuant to the preceding sentences can change during the term of
<br />the Loan. The ins, trance carrier providing the insurance shall be chosen by Borrower subject to Lender's
<br />right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may
<br />require Borrov cr to pay, in connection with this Loan, either: (a) a one -time charge for flood zone
<br />determination, ; ortification and tracking services; or (b) a one -time charge for flood zone determination
<br />and certification services and subsequent charges each time remappings or similar changes occur which
<br />reasonably might affect such determination or certification. Borrower shall also be responsible for the
<br />payment of a.:_., fees imposed by the Federal Emergency Management Agency in connection with the
<br />review of any il�x,d zone determination resulting from an objection by Borrower.
<br />If Borrov _ r fails to maintain any of the coverages described above, Lender may obtain insurance
<br />coverage, at Lc xler's option and Borrower's expense. Lender is under no obligation to purchase any
<br />particular type ;r aunount of coverage. Therefore, such coverage shall cover Lender, but might or might
<br />not protect Bo, .),,, er, Borrower's equity in the Property, or the contents of the Property, against any risk,
<br />hazard or liabi tt*v and might provide greater or lesser coverage than was previously in effect. Borrower
<br />acknowledges t h:t the cost of the insurance coverage so obtained might significantly exceed the cost of
<br />insurance that ':o: rower could have obtained. Any amounts disbursed by Lender under this Section 5 shall
<br />become additioii t; debt of Borrower secured by this Security Instrument. These amounts shall bear interest
<br />at the Note rat e 'rum the date of disbursement and shall be payable, with such interest, upon notice from
<br />Lender to Born. ,v r requesting payment.
<br />All insur.ut , policies required by Lender and renewals of such policies shall be subject to Lender's
<br />right to disapl, t,�e such policies, shall include a standard mortgage clause, and shall name Lender as
<br />mortgagee and' ;r as an additional loss payee. Lender shall have the right to hold the policies and renewal
<br />certificates. If I ender requires, Borrower shall promptly give to Lender all receipts of paid premiums and
<br />renewal notice . I f Borrower obtains anv form of insurance coverage, not otherwise required by Lender,
<br />for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
<br />shall name Let .icr as mortgagee and /or as an additional loss payee.
<br />In the evc .t of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender
<br />may make pro � f loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree
<br />in writing, an., : :,sarance proceeds, whether or not the underlying insurance was required by Lender, shall
<br />be applied to I :oration or repair of the Property, if the restoration or repair is economically feasible and
<br />Lender's secw v '.s not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insu:,!!._e proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />0110226088
<br />Initials
<br />(M-6(NE) (ooc_,, Page 6 of 15 Form 3028 1/01
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