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200411991
<br />DIX ID C 0009534127711004
<br />damaged to avoid further deterioration or damage, If insurance or oondeamutdon proceeds are, paid in
<br />connection with damage to, or the taking 04 the Property, Borrower shall be responsible for repairing or
<br />rafting the Property only if Lender has related proceeds for such pmposea. Lender may disburse proceeds
<br />for the repairs and restoration in a single payment or In a sarim of program payments as the work is
<br />completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property,
<br />Borrower is not relieved of Borrowses, obligation for the completion of such repair or restoration.
<br />Lender or its agent may make reuonable entries upon and inspections of the Property. If it has
<br />reasonable cause, Lender may inspect the inurlor of the improvements on the Property. Lender shall give
<br />Borrower notion at the time of or prior to such an interior inspection specifying such reasonable cause.
<br />& Borrower's Loan Applfeatioa. Borrower shell be in deiisult if during the Loan a"Hatien process,
<br />Borrower or any parsons or entities acting at the direction of Borrower or with Borrower's. knowledge or
<br />consent gave matedaRy false, misleading, or inaccurate information or statements to Lender (or failed to
<br />provide Lender with material information) in connection with the Lan. Material representations include, but
<br />are not limited to, representations concerning Borrower's occupancy of the Property as Bormwe a principal
<br />rasidance.
<br />9. Protection of Lender's liatleteat In the Property and Rights Under this Security Lwbument If (a)
<br />Borrower Bills to pertb m the covenants and agreaamnts contained in this Security InaunnuM , (b) there is a
<br />legal proceeding that might significantly aflbot Lendds interest in the Property and/or rights under ibis
<br />Security Instrument (such ae a proceeding in bankmptay, Probate, for condemnation or forfeitma, for
<br />antbrcWtO t of A lien which may attain priority over this Security Insbumeatt or to enforce laws or
<br />regulations), or (c) Borrower has abandoned the Property, than Lender may do and pay for whatever is
<br />reasonable or appropriate to protect Landees interest in the Property and rights under this Security Instrument,
<br />including protecting and/or amusing the value of the Property, and securing and/or repairing the Property.
<br />Lender's sotions an include, but are not limited to: (a) paying any sumo seemed by a lien which has priority
<br />over this Security Instrument. (b) appearing in court, and (c) paying reasonable attrnneye fees to protect its
<br />interest in the Property and/or rights under this Security lostrwnent, including its secured position in a
<br />bankmptcy proceeding. Securing tine ?Marty includes, but is not limited to, entering the Property to make
<br />repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or
<br />other code violations or dangerous conditions, and have utilida turned on or off. Although Leander may take
<br />action under this Secdon 9, Lander dons net have to do so and is not under any duty or obligation to do so. It
<br />is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under ibis Section 9 shall become additional debt of Borrower secured
<br />by this Security hatrament These, amounts shall bear interest at the Nate rate from the date of disbursement
<br />and d A be payable, with snob Interest, upon notice iiom Lender to Borrower requesting payment
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provwmts of the lease.
<br />If Borrower acquires fee title to the Property, the lsasebold and the The title shall not mange unless Lander
<br />agrees to the margnr in writing.
<br />10. Mortgage Insurance, If Lax* required Mortgage Insurance as a condition of malting the Lea,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effeet If, for any reason, the
<br />Mortgage Insurance coverage required by Lender ceases to be available Horn the mortgage insurer dot
<br />previously provided such insurance and Borrower was required to matte separately designated payments
<br />toward the promiums for Mortgage instarmoe, Borrower shall PAY the penis required to obtain coverage
<br />substantially equivalent to the Mortgage Inuaance previously in effect, at a cost s ditntially equivalent to the
<br />cost to Borrower of the Mortgage huninu ce previously in eflbct, flrwn an alternate mortgage ineuror aeleoted
<br />by Lender. If substantially, equivalent Mortgage Insurance coverage is not available, Borrower shall contimue
<br />to pay to Lender the amount of the separately designated payments that were due when the insurance coverage
<br />ceased to be in dVecL Lender will accept, use and retain these payments as a non- rafundabhe loss reserve in
<br />lieu of Mortgage Insumw& Such lees reeve shall be non- refimdable, notwithstanding the Sat that the Loan
<br />is ultimately paid in fbll, and Lender shall not be required to pay Borrower any interest or earnings of such
<br />loos reserve. Lenderr an no longer inquire leas reserve payments if Mortgage Insurance coverage on die
<br />amount and for the period that Lender requites) provided by an insurer selected by Lender again becomes
<br />available, is obtained, and Lander requires separately dadgaated payments toward the premiums for Mortgage
<br />Inanerce. If Lender required Mortgage Insurance nce as a condition of making the Lan and Borrower was
<br />required to malts separately designated payments toward the premiums for Mortgage hu mmce, Borrower
<br />alai pay the premitanc required to rnahnbdn Mortgage Insurance in dfbM or to provide a non - refundable loss
<br />reeave, untll Lender's ragrdremem for Mortgage Insurance ends in accoWmca with any written agreement
<br />between Borrower and Lender providing Ibr snob tennleaden or until termination is required by Applicable
<br />Law. Nothing in this Section 10 affects Borrower's obligation to pay intared at the rate provided in the Note.
<br />Mortgage Insurance neimbureea Lender (or any entity that purcieses the Note) for certain lass it may
<br />incur if Borrower does not repay the Loa u agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insures evaluate their total risk on all such insurance in force from time to time, and may enter
<br />into agreements with other parties that share or modify their risk, or reduce losses. These agmenents are an
<br />terms and conditions that are saddhotory to the mortgage insurer and the offer party (or partial) to these
<br />agreemaua. These agreements may require the mortgage Insurer to make payments using any source of ibads
<br />taut tie mortgage insurer may have available (which may include fiords obtained from Mortgage insurance
<br />premiums). b �j
<br />��aa(W (awNm CHL (a1/a1) raps e d 11 1/01
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