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200603858 B. MortgagB InsurancB. If lender required mortgage insurance as a condition of making the loan secured by this Security Instrumsnt, Borrowsr shall pay the premiums requirsd to maintain ths mortgage insurance in sffsct. If, for any reason, the mortgege insurancs coveragB rBquirad by lender lepses or ceases to be in effect. Borrowsr shall pay the premiums required to obtain covarage substantially squivalent to the mortgage insurance previously in effect. et a cost substantially squivalent to the cost to Borrower of the mortgags insurancs prsviously in effect, from an alternate mortgage insurer approved by LsndBr. If substantially equivalent mortgage insurance coverage is not availabls, Borrower shall pay to lender each month a sum equal to one.twelfth of the ysarly mortgags insurance premium being paid by Borrowsr whsn ths insurance coverage lapsed or ceased to be in effect. lsnder will accept. use and rstain thBse payments as a loss reserve in lieu of mortgage insurance. Loss rsssrve payments may no longer be required, at the option of lender, if mortgage insurance coverage (in the amount and for ths period that lender requires) provided by an insurer approved by Lsndsr again becomes available and is obtained. Borrower shall pay the premiums rBquired to maintain mortgage insurance in effect. or to provids a loss reserve, until the requirement for mortgags insurancs ends in accordance with any written agreement between Borrower and lender or applicable law. 9. InspBction. Lender or its agent may make reasonable entries upon and inspections of ths Property. lender shall give Borrower notice at the time of or prior to an inspsction spscifying rsasonable cause for the inspection. 1 D. CondBmnation. Ths procssds of any award or claim for damages, direct or consequential, in connsction with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hsreby assignsd and shall be paid to lender. In the event of a total taking of ths Property, ths procseds shall be applied to the sums secured by this 5scurity Instrumsnt, whethBr or not then due, with any excess paid to Borrower. In ths svent of a partial taking of the Property in which ths fair markst value of ths Propsrty immediately before the taking is equal to or greatsr than the amount of the sums secured by this Security Instrumsnt immediately before the teking, unless Borrower and lender othsrwise agree in writing, the sums secured by this Security Instrument shall be reducsd by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately befors the taking, divided by (bl the fair market value of tha Propsrty immsdiately before the taking. Any balance shall bs paid to Borrower. In the event of a partial taking of the Propsrty in which the fair market value of the Propsrty immsdiatsly before the taking is less than the amount of ths sums sscured immediately before the teking, unless Borrowsr and Lsndsr othsrwiss agrBe in writing or unless applicable law otherwiss providss, the procsBds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrowsr, or if. aftsr noticB by Lender to Borrower that the condemnor offers to maks an award or settle a claim for damages, Borrower fails to respond to lender within the minimum number of days established by appliceble law after the dats ths notice is given, lendar is authorized to collect and apply ths proceeds, at its option, either to restoration or repair of the Proparty or to the sums sscured by this 5scurity Instrument, whether or not then due. Unless lendar and Borrower othsrwise agres in writing, any application of proceeds to principal shall not sxtsnd or postpone the due date of ths monthly payments refBrred to in paragraphs 1 and 2 or changs ths amount of such payments. 11. BorrowBr Not RBIBasBd; ForbBarancB By LBndBr Not a WaivBr. ExtBnsion of the time for payment or modification of amortization of ths sums secured by this Security Instrument granted by Lsndsr to any successor in interest of Borrower shall not operats to release the liability of the original Borrowsr or BorrOWBr's successors in interest. lsndsr shall not bs rsquired to commsnce procesdings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any dsmand made by the original Borrower or Borrower's successors in interest. Any forbsarancB by lender in exercising any right or rsmsdy shall not be a waivsr of or preclude the exercise of any right or rsmsdy. 12. Successors and Assigns Bound; Joint and SBVBral Liability; Co.signBrs. The covenants and agreemsnts of this Security Instrument shall bind and benefit the successors and assigns of lendsr and Borrower, subject to the provisions of paragraph 17. Borrowsr's covsnants and agreements shall be joint and ssveral. Any BorrowBr who co.signs this Security Instrument but doss not execute the Note: (al is co.signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property undsr ths tBrms of this Security Instrument; (b) is not psrsonally obligatsd to pay the sums secured by this Sscurity Instrumsnt; and lc) agrees that Lsndsr and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Sscurity Instrument or thB Note without that Borrower's consent. Initials Initials By initialing, I acknowledge this is page 4 of 7 of the Deed of Trust. ~ Copy'ight Complionco Sy.tom..lnc. 1993. 1994. 1995. 1997. 2004 ITEM 121NEL4 104091 Pogo 4 of 7 www.complilncesy.tems.com 800-988-8522 Fo.816-956-1898