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200700008 Loan Number: 421002168 Servicing Number: 002267410-5 Date: 12/13/06 Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Propcrty prior to the acquisition shall pass to Lcnder to the extent of the sums secured by this Security Instrument immediatdy prior to the acquisition. ]f Horrower obtains earthquake insurance, any other hazard insurance, or any other insurance on the Property and such insurance is not specifically required by Lender, then such insurance shall (i) name Lender as loss payee thereunder, and (ii) be subject to the provisions of this paragraph 5. 6. Occupancy, Preservation, Maintenance and Protection of the ProJX.'rty; Borrowl.'r"s Loan Application; Leaseholds. I3orrower acknowledges that the Lender does not desire to make a loan to Borrower secured by this property on the terms contained in the Note unless the property is to be occupied by I3OlTower as Rorrower's primary/secondary residence. Lender makes non- owner residence loans of diiTerent terms. 13orrower promises and assures Lender that Rorrowcr intends to occupy this propcrty as Horrower's primary/secondary residence and that Borrower will so occupy this property as its sole primary/sccondary residence within sixty (00) days after the date of the Security Instrument. If 13orrower brcaches this promise to occupy the property as Horrower's primary/secondary residence, then Lender may invoke any of the following remcdies, in addition to the remedies provided in the Security Instrument (1) Declare all sums secured by the Security Instrument due and payable and foreclose the Security Instrument, (2) Decrease the term of the loan and adjust the monthly payments under the Note accordingly, inereasc the interest rate and adjust the monthly payments under the Note accordingly, or (3) require that the principal balance be reduced to a percentage of either the original purchase price or the appraised value then being offered on non-owner occupied loans. Borrower shall not destroy, damagc or impair the Property, allow thc Property to deteriorate, or commit waste on the Property. I3orrower shall be in default if any forfeiturc action or proceeding, whcther civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. I3orrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith dctermination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lcnder' s security interest. Rorrower shall also be in default if Horrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Horrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless [,cnder agrees to the merger in writing. I3orrower shall, at Horrower' sown expcnse, appear in and defend any action or proceeding purporting to affect the Property or any portion thereof or Borrower's title thereto, the validity or priority of the lien created by this Security Instrument, or the rights or powers of Lender or Trustee with respect to this Security Instrument or the Property. All causes of action of Horrower, whcther accrued before or after the date of this Security Instrument, for damage or injury to the Property or any part thereof, or in connection with any transaction financed in whole or in part by the proceeds of the Note or any other note secured by this Security Instrument, by Lender, or in connection with or affecting the Property or any part thereof, induding causes of action arising in tort or contract and causes of action for fraud or concealment of a material fact, are, at Lender's option, assigned to Lender, and the proceeds thereof shall be paid directly to Lender who, after deducting therefrom all its expenses, induding reasonable attorneys' fees, may apply such proceeds to the sums secured by this Security Instrument or to any deficiency under this Security Instrument or may rdease any monies so received by it or any part thereof, as Lender may elect. Lender may, at its option, appear in and prosecute in its own name any action or proceeding to enforce any such cause of action and may make any compromise or settlement thereof. Horrower agrees to execute such further assignments and any other instruments as from time to time may be necessary to effectuate the foregoing provisions and as Lendcr shall request. 7. Protection of Lcnder's Rights in the Property_ If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender docs not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Hon-ower secured by this Security Instrument. Unless Horrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate in dIect from time to time and shall be payable, with interest, upon notice from Lender to 13orrower requesting payment. 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in dIeet. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in dIeet, Borrower 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 Horrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, Rorrower shall pay to Lender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being paid by I3orrower when the insurance coverage lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by lender again becomes available and is obtained. norrower 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. Inspcction_ 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. Condcmnation_ 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, arc hereby assigned and shall be paid to Lender. Lender may apply, use or release the condemnation proceeds in the same manner as provided in paragraph 5 hereof with respect to insurance proceeds. Page 3 of (, NED 10013 (03/29/00)