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200206958
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Last modified
10/15/2011 1:14:27 AM
Creation date
10/22/2005 8:58:20 PM
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DEEDS
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200206958
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200206958 <br />9. Protection of Lenders Interest in the Property and Bights Under this Security Instrument. If <br />(a) Bmmwer fails to perform the covenants and agreements contained in this Security Insrtment, (b) Were <br />is a legal proceeding that might significantly affect Lender s interest in the Property and/or rights under <br />this Security Instrument (such as a cause in c in clnkrupmy probate, for condemnation or forfcimm, for <br />enforcement of a lien which may attain priority over tills Security Instrument or to enforce laws or <br />regulations), or (c) Borrower has abandoned the Property, then Under may do and pay for whatever is <br />reasonable or appropriate to protect Under s interest in Bne Property and rights under this Security <br />Instrument, including protecting radius asmssing the value of the Property, and securing mid /or repairing <br />the Property. Lender's secure can include, hill are not limited to (a) paying Imv sums secured by a lien <br />which has priority over this Security thsmtmem; (b) appearing in court; and (c) paying reasonable <br />attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, Including <br />its secured position in a hankmper, proceeding- Securing the Property includes, but is not limited to, <br />entering the Property to make repairs, change locks, replace or board up doors told windows, drain water <br />from pipes, eliminate building or other code violations nr dangerous conditions, and have utilities turned <br />on or off Although Lender may rake action under tilts Section 9, lender does not have to do so and is not <br />under any duty or obligation to do so, It is arced that Lender incurs no hahilip for not taking any or all <br />actions authurixed under this Section 9. <br />Any cannabis disbursed by Lender under this Section 9 shall femme additional debt of Borrower <br />secured by this Security Betntmem. These amounts shall bear interest at We Note rate from the date Of <br />disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting <br />paymIt this Security Instrument Is on a leasehold. Borrower shall comply with all Ne provisions of the <br />lease. If Borrower acquires fee title to rile Property, the leasehold and the fee title shall not metric unless <br />Lender agrees to We merger in writing. <br />10. Mortgage Insurance. If lender required Mortgage Insurance as a condition ofreaking Ole Ivan, <br />Borrower shall pay the premiums required to maintain the Mortgage insurance in effect If, for my mason, <br />the Mortgage Insurance coverage required by Lender ceases to he available from the mortgage insurer that <br />previously provided such inenrance and Bonrower was required to make separately designated payments <br />toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain <br />coverage substantially equivalent to the Mortgage Insurance previously in effect, at it cost substantially <br />equivalent to (lie cost to Borrower of the Mortgage inmrance previously in effect, from an alternate <br />mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not <br />available, Borrower shall continue to pity to Lender the tonohnt of the separately designated payments per <br />were due when the insurance coverage ceased to be in effect, lender will accept, use and retain these <br />payments is a n- refundidid loss reserve in lieu of Mortgage hutmrce. Such loss reserve shall be <br />n- refundable, notwithstanding the fact that the Loan is ultimately paid in fill], and Lender shall not be <br />required to pay Borrower any interest or comings on such loss reserve- Iznder can no longer require loss <br />reserve payments if Mortgage Insurance coverage (in the amount aid for the period that Lender lectures) <br />provided by an insurer selected by Lender 'again becomes available, is obtained, said Lauder requires <br />separately designated payments toward the premiums for Mortgage Insurance. If tender required Mortgage <br />insurance as a condition of chaffing the Loan and Borrower was requital m make separately designated <br />payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to <br />maintain Mortgage Insurance in effect, or to provide a lien refundable loss reserve, until Lender's <br />requirement Por Mortgage non arse ends in accordance with any wriheu agreement between Borrower and <br />Lender providing for such termination or until termination is required by Applicable Law. Nothing in pis <br />Section 10 affects Borrower's obl Igaton to pay inmreat at the fate provided in the Nom_ <br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain Insets it <br />nay local if Borrower does not repay the Loan as agreed. Borrower is net a party to the Mortgage <br />e. <br />Insuranc- <br />Mortgage insurers evaluate their total risk on all such insurance in force from tittle to time, and may <br />enter into agreements with enter parties that share or modify their risk, or reduce losses. 'these agreement <br />are en terms and rondttio es that are satisfactory to the mortgage f sorter and the other party (or parties) to <br />these agreements_ These agreements may requite the mortgage insurer to make payments using tiny source <br />of funds that the mortgage Insurer may bive available (which may include funds obtained front Mortgage <br />Insurance premiums). <br />I <br />- eINE14IDwt I rareoot � rmrn 3028 9001 <br />Y <br />
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