|
2W263 4-5 4
<br />$Mow" OUR promptly discharge MY lien which has priority over this security bw cat unless
<br />(a)
<br />agrees in wfiting,to the payment of the obligation secured.by the lien in a manner a66ipta616'
<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 hen in, legal proccedings which in Leader's opinion operate to
<br />prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings
<br />amcewlWed; or40 scames ftom.6wholder of0elien xa,*ftmM sai yto Lender:submdh �
<br />the, lim 10, this security. bstrunMIL Wtower desermines dw;any pwoudw- Property: is, subject Ao'',44ion
<br />wW4 an easin priority over this Scourity tutrtumm, Lender may Sive Bonower a notice identifying;the
<br />WithinJO days of the date cambickthat notice is given, Vorrower shall satisfy the lien or. take JOW or
<br />murev,f the'actioas set lbrWabowin this Section 4.
<br />Leader may to- pay one-time Aarp for a, red,, estM:l tax, verificxdm VOMW
<br />tepordi g service used -by Lender in cohnecdon. with dit, IAMM,:
<br />other hazards including, tin not 4imiled, ioveardoquakes and Bomb-, 1or,w1*ch,-,IAnder,rMd=# Wwwoom,
<br />This iasurance2 shall -,be maintained- in -to auiotmtr levAk) and JbrLft-pstkdsAW
<br />Leader requaw. Mhat Lender requires puns ant to Sri "Vrmft somMoes-vou dW*p dalft,ft W
<br />the Loan. The insurance carrier poviding the insurance ".,be, chow by; Borrower sect to Lendler'si
<br />right to disapppww. Borrower's choice, which right shall not be exercised unreasonably. Lender may
<br />require: Borrower to, pay, in connection with this LA eitber-'(4) a ene-ti= dlwp for Good zone
<br />deftrutinetion, certification and tracking servicest, or (b), a one-time charge for Good, zees determination
<br />and oertification services and subsequent charges, eack-time or -similar dwVes mom which;
<br />reasonably, might affect such determination or certification., Borrower, . shall also, be responsWo-for, the
<br />payment of any fees> imposed by the Federal Emergency-.Mamma - AWney in counectiow- with the
<br />review of any flood zone determination resulting from an objectiow br, Borrower.
<br />If Borrower fails to maintain any of the coverages described above, 'Lender may obtain, ksurance
<br />coverage, at Lander's option and Borrower's - expone. Leader % is , under no obligation . toy purchasme any
<br />particular type or amount of coverage. Therefore, such -coverage MM covoAesdcr, but migbver might
<br />not-protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk,
<br />hazard - at liability and might provide greater or Josser-cwverage tba - was previously in effete; Borvwwa
<br />wknowledyes that the cost of-die insurance coverage, to obtained might significantly exceed do cost of,
<br />insurance, dW Borrower could have obtained. Any amounts disbursed by, Lender under this Section 5 shall
<br />become additional MA of Borrower secured by thal M=rily Imatrawnt.1bm.suounts'doll bear Interest -
<br />at the Note me from the date of disbursement and shall be payable, with such interest, upon notice from
<br />Leader WZoffower requesting payment.
<br />All insurance policies required by Lender and renewals. of suck policies-shall be subject to-Lender's
<br />right to disapprove such policies, shall include a standard mortgage dose, and shall name Lender as
<br />mortgagee and/or as an additional loss payee. Lender, shall, have the right to hold the policies and renewal
<br />certificates. If Lender requires, Borrower " promptly giver to Lender all receipts -of paid premiums and
<br />renewal notices. If Borrower obtains any 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 Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice; to the insurance carrier and Lender. Lender
<br />may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree
<br />in writing, any insurance proceeds,' whether or not the' underlying insurance was reqabcd by Lender, shall
<br />be applied to restoration or repair -of the Property, if the restoration or repair is economically -feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lender shall have Awright to
<br />hold such insurance proceeds until Lender has had an opportunity to aspect such Property to ensure the
<br />fomp'l Paps 8 of 15
<br />IWO
<br />Form 3028 1101
<br />3 0 0 .11)"k n:412 1
<br />A' 4
<br />
|