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<br />8. Mortgage Insurance. If lender required mortgage insurance as a condition of making the loan secured by this Security
<br />Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage
<br />insurance coverage required by lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain coverage
<br />substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the
<br />mortgage insurance previously in effect, from an alternate mortgage insurer approved by lender. If substantially equivalent mortgage
<br />insurance coverage is not available, Borrower shall pay to lender each month a sum equal to one.twelfth of the yearly mortgage
<br />insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. lender will accept. use and
<br />retain these payments as a loss reserve in lieu of mortgage insurance. loss reserve payments may no longer be required, at the option
<br />of lender, if mortgage insurance coverage lin the amount and for the period that lender requires) provided by an insurer approved by
<br />lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect. or
<br />to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between
<br />Borrower and lender or applicable law,
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<br />9. Inspection. lender or its agent may make reasonable entries upon and inspections of the Property. lender shall give
<br />Borrower notice at the time of or prior to an inspection specifying reasonable cause for th~ inspection.
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<br />1 D. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation. are hereby assigned and shall be
<br />paid to lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market
<br />value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security
<br />Instrument immediately before the taking, unless Borrower and lender otherwise agree in writing, the sums secured by this Security
<br />Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums
<br />secured immediately before the taking, divided by Ib) the fair market value of the Property immediately before the taking. Any balance
<br />shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately
<br />before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower and lender otherwise
<br />agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security
<br />Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by lender to Borrower that the condemnor offers to make an award
<br />or settle a claim for damages, Borrower fails to respond to lender within the minimum number of days established by applicable law
<br />after the date the notice is given, lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of
<br />the Property or to the sums secured by this Security Instrument. whether or not then due.
<br />Unless lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the
<br />due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments,
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<br />11. Borrower Not Released; Forbearance By Lender Not a Waivar. Extension of the time for payment or modification of
<br />amortization of the sums secured by this Security Instrument granted by lender to any successor in interest of Borrower shall not
<br />operate to release the liability of the original Borrower or Borrower's successors in interest. lender shall not be required to commence
<br />proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any
<br />forbearance by lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
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<br />12. Successors and Assigns Bound; Joint and Several liability; Co-signers. The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of lender and Borrower, subject to the provisions of paragraph
<br />17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co.signs this Security Instrument but does not
<br />execute the Note: (a) is co.signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property
<br />under the terms of this Security Instrument; Ib) is not personally obligated to pay the sums secured by this Security Instrument; and (c)
<br />agrees that lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the
<br />terms of this Security Instrument or the Note without that Borrower's consent.
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<br />By initialing, I acknowledge this is page 4 of 7
<br />of the Deed of Trust,
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<br />@ Copyright Compli,"" Sy,t,"",I",. 1883, 1884, 1885, 1887,2004
<br />ITEM 121NEl4 104061 P,g,4of7
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<br />D.S.
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<br />WWW.CDmflliantBsystems:.com
<br />600.868-6522 fox 616-858-1866
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