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200411796
<br />9. Protectioili of Lender's Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fai 1 s to perform the covenants and agreements contained in this Security Instrument, (b) there
<br />is a legal proceeding that might significantly affect Lender's interest in the Property and /or rights under
<br />this Security Insn rument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for
<br />enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
<br />regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
<br />reasonable or appropriate to protect Lender's interest in the Property and rights under this Security
<br />Instrument, including protecting and /or assessing the value of the Property, and securing and /or repairing
<br />the Property. Lender's actions can include, but.are not limited to: (a) paying any sums secured by a lien
<br />which has prix: i ty over this Security Instrument; (b) appearing in court; and (c) paying reasonable
<br />attorneys' fees t(, protect its interest in the Property and /or rights under this Security Instrument, including
<br />its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to,
<br />entering the Property to make repairs, change locks, replace or board up doors and windows, drain water
<br />from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned
<br />on or off. Althol:,�h Lender may take action under this Section 9, Lender does not have to do so and is not
<br />under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all
<br />actions authorize,cl under this Section 9.
<br />Any amou:us disbursed by Lender under this Section 9 shall become additional debt of Borrower
<br />secured by this ` ccurity Instrument. These amounts shall bear interest at the Note rate from the date of
<br />disbursement ar,c: shall be payable, with such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />If this Securty Instrument is on a leasehold, Borrower shall comply with all the provisions of the
<br />lease. If Borro�,% . acquires fee title to the Property, the leasehold and the fee title shall not merge unless
<br />Lender agrees tc ..,e merger in writing.
<br />10. Mortg:,:,c'insurance. If Lend r required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pct.! the premiums required to maintain the Mortgage Insurance in effect. If, for any reason,
<br />the Mortgage hlsl __;ice coverage required by Lender ceases to be available from the mortgage insurer that
<br />previously pro\ i,':..d such insurance and Borrower was required to make separately designated payments
<br />toward the prcu:iums for Mortgage Insurance, Borrower shall pay the premiums required to obtain
<br />coverage substawla!'.y equivalent to the Mortgage Insurance previously in effect, at a cost substantially
<br />equivalent to tiic cost to Borrower of the Mortgage Insurance previously in effect, from an alternate
<br />mortgage incur -I- selected by Lender. If substantially equivalent Mortgage Insurance coverage is not
<br />available, Borrov vr shall continue to pay to Lender the amount of the separately designated payments that
<br />were due when t'.ic insurance coverm� c ceased to be in effect. Lender will accept, use and retain these
<br />payments as I 1> ii- refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be
<br />non- refundabie, I_twithstanding the frf,:t that the Loan is ultimately paid in full, and Lender shall not be
<br />required to pay 1orrower any interest or earnings on such loss reserve. Lender can no longer require loss
<br />reserve payment, !' Mortgage Insurance coverage (in the amount and for the period that Lender requires)
<br />provided by an i.i. urer selected by L -nder again becomes available, is obtained, and Lender requires
<br />separately desi ,ii c,1 aayments toward the premiums for Mortgage Insurance. If Lender required Mortgage
<br />Insurance as a c idillion of making the Loan and Borrower was required to make separately designated
<br />payments tows: rr_ ; h c premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mort`, c Insurance in effect, or to provide a non - refundable loss reserve, until Lender's
<br />requirement for ortgage Insurance ends in accordance with any written agreement between Borrower and
<br />Lender providir_ ;'o - such termination or until termination is required by Applicable Law. Nothing in this
<br />Section 10 affccI 'lorrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage I ,. m ance reimburses Lender (or any entity that purchases the Note) for certain losses it
<br />may incur if l or: over does not repay the Loan as agreed. Borrower is not a party to the Mortgage
<br />Insurance.
<br />Mortgai,e .: uivrs evaluate their total risk on all such insurance in force from time to time, and may
<br />enter into agrec:r., nu with other parties that share or modify their risk, or reduce losses. These agreements
<br />are on terms an,l ,;;I ditions that are satisfactory to the mortgage insurer and the other party (or parties) to
<br />these agreements "l icse agreements may require the mortgage insurer to make payments using any source
<br />of funds that !hr _n„rtgage insurer may have available (which may include funds obtained from Mortgage
<br />Insurance prc i n i c. . I s; .
<br />(M -6(NE) too,,c
<br />Initials:
<br />Page 8 of 1 5
<br />0110226088
<br />Form 3028 1/01
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