200303085 - Laserfiche WebLink

Browse

200303085 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument If (a) Borrower fails to perform (be covenants and agreements contained in this Security Inmument. (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or righm under this Security of .fi ant (such as a proain priority in baover try, Include, urity for condemnation to or forfeiture, for enforcement of alien which may undo priority over this t Security rm may do or a enforce w laws or regulations), or (c) Borrower has abandoned Leader the Property , then Lender may do and pay far whatever is teas Doable or appropriate ct protect Lenders interest ie the Property, and rights under this Security the P meet iududing protecting and/or de, but a the valve of the Property, and securing and/or repairing the which has . Lender's r actions can mdadn, but are not limited rte (a) paying any sums secured as a lien wMeh has priority P over this Security a Property (b) appearing a this court: and (e) paying reasonable its attorneys' an teas h protect its imerett in the Property andrin rights under this Security but is not Instrument, inducting its seamed pompon In a haakraptry proceeding. Securing the Property doom an wi 6 not railimited ter from pi the Property m make or other dredge lodes, replace dangerous oc board up doors and windows, sties water from pipes, ltho irmte building or ather code nder this ec io 9, Uri conditions, and have o so an corned on or off, Although Lender may coke action under this Section 9, Lender does not have to do so and is not under any dory obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized ed under this Section B. Any this Se urity st by Lauder under amounts Seddon 9 shall became additional debt of a date of this cared me this Security a payable, There amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such Interest, upon notice from Lender In Borrower requesting paym'f this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Properly, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10- Mortgage Insurance. If Lender required Mortgage insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage inner that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Bormwm deal] pay the pmndems required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance perviously in effect, from an alternate mortgage insurer selected by Lender. If subsmntially equivalent Mortgage Insvmnee coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be In effect Lender will acmpt use and remits these payments as a nom refundable lass re no lieu of Mortgage Insurance. Such loss reserve shin be non refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall ran be required to pay Borrower any interest or earnings on such lass reserve. Lender an no longer require loss reserve payments if Mottgage Inurance coverage (in the amount and for the period that Lender requires) pro vided by a insurer seemed by Lender again becomes available is obtained, and Lender require' separately designated payments toward the premiums far Mortgage Insurance Lender on dyed Mortgage Insurance as a condition of making the Lnan and Borrower was required m make separately desgnated payments coward the premiums for Mottgage him_are, Borrower shan pay the premiums required to eimaln Mortgage Lumore to effect, or to provide a n.a refmdable Toss re son, Lenders requirement far Mortgage l "on"e ends in accordance with any written agreement between Borrower and Lender providing for eneh termination or until nomhmtion is required by A"ntake Law. Nothing fn Ibis Section to affects Borrower s odig rdon to pay interest at the rate provided fn the Nme. Mortgage Insurance reimburses Unma (or any c nity Thar pvmheses the Nate) far certain losses it may Incur If Borrower does not repay the Loan as agreed- B ormaor is not a parry m me Mortgage Insurance. Mottgage insurers evalume their total risk on all such insurance in force from time m rime, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other perry (or parties) m these agreements. These agreemens may require the mortgage insurer m make payntcn¢ using any source of Ponds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). IeAIER1000236146 1000236146 0 -0F(NE)lemsl , ns From 3028 1101