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200605016 landar, Borrowar's right to any insurancB policias and procaads rasulting from damaga to tha Property prior to tha acquisition shall pass to landar to tha axtant of tha sums sacurad by this Sacurity Instrumant immadiataly prior to tha acquisition. 4. Preservation. Maintenanca and Protection of tha Prop arty. Borrowar shall not dastroy, damaga or impair tha Proparty, allow tha Proparty to datariorata, or commit wasta on tha Proparty. Borrowar shall ba in dafault if any forfeiture action or procaading, whether civil or criminal, is bagun that in landar's good faith judgmant could rasult in forfaitura of tha Proparty or otharwisa matarially impair tha lien creatad by this Security Instrumant or lander's security intarast. Borrowar may cura such a dafault and rainstate, as provided in paragraph 15, by causing tha action or procaading to ba dismissad with a ruling that. in landar's good faith datarmination, pracludas forfaitura of tha Borrowar's intarest in the Proparty or othar matarial impairmant of the lien created by this Security Instrumant or lender's sacurity interast. 5. Protection of Lender's Rights in the Property. If Borrower fails to parform the covanants and agraamants containad in this Sacurity Instrumant. or thara is a lagal procaading that may significantly affact landar's rights in tha Proparty lsuch as a procaading in bankruptcy, probata, for condamnation or forfaitura or to anforca laws or ragulationsl, and aftar lMtder provides any required notice, than landar may do and pay for whatavar is nacassary to protact tha valua of tha Proparty and Landar's rights in tha Proparty. landar's actions may includa paying any sums sacurad by a lian which has priority ovar this Security Instrument, appearing in court, paying raasonable attorneys' fees and entering on tha Property to maka rapairs. Although lander may take action under this paragraph 5, Lender does not have to do so. Any amounts disbursed by lander undar this paragraph 5 shall become additional debt of Borrower securad by this Security Instrument. Unless Borrower and lender agree to other terms of peyment, these amounts shell beer interest from the dete of disbursement at the same rate assassed on advancas undar the Contract and shall ba payable, with intarest. upon notica from Lendar to Borrower requesting payment. 6. 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. 7. Condemnation. The proceeds of any award or claim for damagas, diract or consaquBntial. in connaction with any condamnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby essigned end shall be paid to lender. In the event of a totel taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument. whether or not then due, with any excass paid to Borrowar. In tha avant of a partial taking of the Proparty in which tha fair market valua of tha Property immediataly before the taking is aqual to or graatar than the amount of the sums sacurad by this Sacurity Instrumant immadiately bafora tha taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be raduced by the amount of the procaads multipliad by the fOllowing fraction: (a) tha total amount of the sums sacurad immediately before the taking, dividad by lb) the fair markat value of tha Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of tha Proparty in which tha fair markat value of the Property immediately before the taking is lass than the amount of the sums secured immediately before the taking, unless Borrower and landar otharwisa agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums securad by this Sacurity Instrument whether or not the sums are then due. If the Property is abandonad by Borrowar, or if, after notica by lender to Borrower that the condemnor offers to meke an award or seUla 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 collact and apply the procaeds, at its option, aithar to rastoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless lender and Borrower otherwise agrae in writing, any application of procaads to principal shall not extend or postpone tha dua date of the payments due undar tha Contract or change tha amount of such payments. By initialing, I acknowledge this is page 3 of 7 of the De5d of Trust. Initials Initials Initials @ Copyright Co..pli,.oo SVIl,..,.I." 1994.1995.1997.1999,2004 ITEM423NEL3 104111 P.g. 3 of 7 www.compliQnCib8vatamil,COIn 900-966-6522 F.. 616-956-1666