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200604210 8. Mortgage losurance. If Lender required mortgage insurance as e condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrowar shall pay the premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgege insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not aveilable, Borrower shall pay to Lender each month a sum equal to one. twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. Lender will accept, use and retain these payments as e loss reserve in lieu of mortgage insurance. Loss resarve payments may no longer be required, at the option of Lender, if mortgage insurence coverage lin the amount and for the period that Lender requiresl provided by an insurer approved by Lender egain becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether Dr not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lander otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: la) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shell be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the teking is less than the amount of the sums secured immediately before the taking, unless Borrower and Lender otherwise agree in writing Dr unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether Dr not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to lender within the minimum number of days established by applicable law 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 the Property or to the sums secured by this Security Instrument, whether Dr not then due. Unless Lender and Borrower otherwise agree in writing, any epplication of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 11. Borrower Not Released; Forbearance By lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment Dr otherwise modify amortization of the sums sacured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co"signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreaments shall be joint and several. Any Borrower who co"signs this Security Instrument but does not execute the Note: la) is co.signing this Security Instrument only to mortgage, grant Bnd convey that Borrower's interest in the Property under the terms of this Security Instrument; Ib) is not personelly obligated to pay the sums secured by this Security Instrument; and lcl agrees that Lender and any other Borrower mey agree to extend, modify, forbear or make any accommodetions with regard to the terms of this Security Instrument Dr the Note without that Borrower's consent. By initialing. I acknowledge this is page 4 of 7 of the Deed of Trust. @ CDpy,ight Compllanco Sy,"m,.lno. 1993. 1994. 1955. 1997.2004 ITEM 121 NEL4 104081 P'g.4 of 7 L Initials Initials Initials wwW,[;Dmplil!lnCBsvstBms_com 800.988.85Z2 FIX 818.958.1888