200205897 - Laserfiche WebLink

Browse

200205597 9. Protection of Lender's Interest in the Property and Rights Lender this Security hastrulivent. If (a) Borrower fails to perform the covenants and agrccntents contained in this security Insttumcul, (b) there i.s a legal proceeding that alight significantly affect Lender's interest in the Property and /or rights under tills Security fnstruntcut (such as a proaxding in hankmptcv, probate, Cut condemn:dion or forfeiture, for entoncuIran of a lien which may attain priority oval thin Securely instrument or m crea't'e laws or regulations), or (c) But lower has abandoned the Propert), than Lauder may du and pay for whenever is reasonable o[ approPdaro [o protect Lender '5 miens[ in the Property and riplus under tills Securely Instrument including protecting and /or assessing the 'able of the Property', and sccunng and /nr repairinP the Properly. Lttder's actions earl include, but are rem limltappearing (in lour, and s, ,s secured b a lice Paying Mich has priority over this Security Insuurneuc (U _ attorneys fees to protect its interest in the Property and /or rights under thus Security lorrolmcnt, including its secured position in a bankruptcy proceeding. Securing the Pi,,d rly includes, but is not rained to, enterin'a the Property to make repairs, change locks, replace or board o doors and windows. drain wnt d front pipes, elhninate building or other code violat ions or Janecrous cmtdi7ions, anU have utli ties turned on or oat - Althcu¢h Lender truly take action under this Section 9. lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not Inking any or all actions authorized under this Section 9. Any :unou nts disbursed by Lender under this Section 9 shall become additional debt of BOaowcr secured by Ihis Scattily e payabcnLwith Hsu nntntercst, shall upon notice floor Linder tor Bonowcr The date Stmt, disbursement and shall be payable, payment It this Security Instrument is oil a leasehold, Borrower 'ball comply with all the provisions of the Icase. It 6ounwer acquires fee title to the Property, the leasehold and the fee title shall not merge uulcss Lender agrees to the merger in writing. 10. Mortgage Insurance. If Icaider required Mortgage II15nranee a5 a condition of making the Loan, Borrower ,droll pay lit- Pecarmnha required to olinrain the Mortgage Insurance in affect- If, for ally reason. the Mortgage lnsllnnce coverage acquired by lender ceuScs to be available front the mortgage Insurer that Previously provided such insurance and Borrower .vas required to make separately designated paymeme toward the premiums for Mortgag" Insurance. Borrower shall pay [bc pnnnittnat aeros[e uhs[anGZlly coverage Substantially equivalent to the Mortgage Insurance previously m clTect, equivalent l0 the cost to Borrower of [he Mortgage ineuranu: previously' in effect from an allcrnate mOngage insurer selected by Lentkr, if substantially equvalent Muneaec Insurance coverage Is nut available, Bon'ower shall continue to pay to Lender tic amount of the aeparaely J,sigm,tcd payments that mere due when the Insurance coverage ceased to be in effect. Lcndet will accept- use and retain these payments w a non - Insurance loss reserve in lieu 01 Mortgage Insurance- Such loss reserve shall be nun - refundable, notwithstanding the fact that dhu Loan is ultinlnrety paid iu fart and Lender shall not be required to pay Borrower any interest or earnings on such loss leaen'c- Lender can no longer require 1055 reserve payments if Mattgage Insurxnce coverage (hl the amount and fors the sinud Land 1 id Lender r�t�ulms provided by an insurer selected by Lender again becomes availoble, separately designated payments toward the prcnhlurrs for Mortgage [nsurancz If LenUcr required Mortgage Insurance as a condition of making the Lev[ and Borrow Borrower hand guy rthkcp[ �rtfmtns required 10 payments reward the ponnlums for Mortgage Insurance, until Lender's maintain MorlBagc buttranec in effect, or to provide a non - refundable loss reserve, requirement for [vlortgage insurance ends in acwrdMlec with any written nprWItenl bdwcen Borrower and Lender providing for such terotinn[ion or until rcunJunt0on is required by Applicable Law. Nothing in this Section 10 affects Borrow'er's obligation to pay interest at the rate provided in the Note _ Mortgage Insurance reimburses Lender (or :my entity that purehmes the Note) for ecilaut losses it may incur if Borrower does not repay Ile Loan as --_Iced. Borrower is root a party to the Mortgage Lmarrvhce. Mortgage insurers cvalualc their total risk on all such insurance in fora from time to erne, and may enter into agreements will other parties that share or modity their rick or nduee. lasses. 'Pheec agrcetlleuts are on [cans and conditions that arc satisfactory to the mongaec inswner and the other party (or parties) to these ag?'eemcnts- lllr,c agrecmems nury require the mWL94C li truly er I funds ubnmcd fro naMor�gagc of funds the[ du nuottSagc insurer may have available ( Y Laurance premiums). Poem 3028 1/01 �-6GINE1 N11 J 1 ZElZl 'd EBEZ9ESZOb 'ON Xb'0 O1N MH HH8 A SIIHM kd EE:II IHd 60H —lE —AG