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200610121 DOC ID #: 00015229502710006 Tn the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lendcr may make proof of loss if not made promptly by Borrower. If thc Property is abandoned by Borrower, or if Borrowcr fails to respond to Lender within 30 days from thc date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurancc benefit,>, Lender is authorized to collcct and apply the insurance proceeds at Lender's option cithcr to restoration or repair of the Property or to thc sums secured by this Deed of Trust. 6, Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall kcep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Dccd of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or govcming the condominium or planned unit development, the by-laws and regulations of the condominium or planncd unit development, and constituent documcnts. 7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, thcn Lender, at Lcndcr's option, upon notice to Borrowcr, may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance a<; a condition of making the loan securcd by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminatcs in accordance with Borrower's and Lender's writtcn agreement or applicable law. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note ratc, shall become additional indebtedncss of Borrower secured by this Deed of Trust. Unless Borrowcr and Lender agree to other tcrms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thercof. Nothing contained in this paragraph 7 shall requirc Lendcr to incur any expense or take any action hcrcunder. 8. Inspection. Lender may make or causc to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause thcrcfor relatcd to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, arc hercby assigned and shall be paid to Lender, subject to thc terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this Dccd of Trust. 10. 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 Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extcnd time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest. Any forbcarance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remcdy. 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein contained shall bind, and the right<; hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs this Deed of Trust, but docs not execute the Note, (a) is co-signing this Deed of Trust only to grant and convey that Borrower's interest in the Property to Trustee undcr the terms of this Deed of Trust, (b) is not personally liable on the Note or under this Dced of Trust, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or . -76N(NE) (0509) CHL (05/06) @ Page 4 of 8 Form 3828