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<br />@8/21/2005 04:44
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<br />6192933420
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<br />HLCMV
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<br />PAGE 04/31
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<br />200701807
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<br />pmvjding the ins\.ltl\1lcc shall be chaseD. by Borrower subject to Lender's right to disapprove Borrower's choice,
<br />which right shall not be exercised nnreasonably. Lender may require BOrrOWtlr to pay, in coonC(1tion with this Loan,
<br />either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one.time
<br />charge for flood zone determination and certification services and subsequent charges each time remappings Or
<br />similar changes occur which reasonably might affect such detennination or certification. Borrower shall also be
<br />responsible for the payment of any fees imposed by the Federal Emergency MlUulgement Agency in connection w:i.th
<br />the review of any flood zone detemrination resulting from an objection by Borrower.
<br />IfBolTower fails to maintain any of the coverages deSCt1bed above, Lender may obtain iD5W"iUlce coverage,
<br />at Lender's optiOlJ and BorroweJ:'s expense. Lender is under no obligation to purchase any particular type or amount
<br />of coverage. Therefore, such coverage shall COVet Lender, but :might or mi.sht not protect Borrower, BOrrower's
<br />equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater
<br />or lesser coverage than wa$ previously in effect. Borrower acknowledges that the cost (Jf the insurance coverage so
<br />obtained might "ignificantly exceed the cost of insurance that BorrOwer could have obtained. Any amounts
<br />disbUJ:Sed by Lender under this Section 4 shall become additiollal debt of I;Jorrower sccured by this Security
<br />Instrument. These amoWlts shall bear interest at the rate applicable to the Debt Instrument from time to time, from
<br />the date of disbursement and shall be ptlyable, with such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance poHc.i~ required by Lender and renewals of such policies shall hi:: subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shan name Lender 88 mortgagee and/or as an
<br />additionall(Jss payee and BOlTower further agrees to generally assign rights to insurance proceeds to the holder of
<br />the Debt IlUltrument up to th,e amount of the outstanding loan balance. Upon Lender's request, Bon:ower shall
<br />promptly give to Lender copies of a.ll policies, re1).ewal certif1catetl, receipts of paid premitUils and renewal notices.
<br />lfBorrower obtains any form C)finsura:n~ coverage, not otherwise requi;red by Lender, for damage to, Or destruction
<br />of, the Property, such policy shall include a standard mortgage clartSe and shall name Lender as mortgagee and/or as
<br />an additionallo:i:i payee and Borrower further agrees to generally assign rights to insurlince proceeds to the holder of
<br />the Debt Instrument up to the aDJ.OUnt of the outstanding loan balance.
<br />In the event of 10$$ and subject to the rights of any 1ienh(Jlder with rights to insnrance proceeds that arc
<br />superior to Lender's rights, the following provisiOJ,1,$ in this Section 4 shall apply. Borrowe.: $hall give prompt notice
<br />to the insurance carrier lIIld Lender, Lender may make proof of loss if not made promptly by Borrower. Un1eu
<br />Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying iwurance
<br />was required by Lender, shall be applied to restoration or repair of the Property, if the restoration Ot repllir is
<br />economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall
<br />have the right to hold such insurance proceeds \IIltil Lender has had an opportunity to inspect such Property to
<br />ensure the work has been completed to Lender's satisfaction, provided that such inspectjpn shall be undertAken
<br />promptly. Lender may disburse proceeds f(Jr the repairs and restora.tion in a single payment or in a series of progress
<br />payments as the work is completed. Unless an agreement is made in writing' or Applicable Law requires interest to
<br />be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest Or earnings on such
<br />proceeds. Fees for public adjll8tetlS, or other tltird parties, retained by Borrower shall not be paid out of the
<br />insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair ia fiat economically
<br />feasible or Lender's secwity would be lessened, the insunwce prOCeeds shall he applied to the sums seCUfed by this
<br />Security Instnnnent, whether or not then due. with the excCS$, if any, paid to Borrower. Such inswance p:l:oceeds
<br />shall he applied in the order provided for in Section 2.
<br />If BOrrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond withID. 30 days to a notiCe from Lender that the inswance came,: has
<br />offered to settle 8 claim, then Lender. may negotiate and settle the claim. The 30-day period will begin when the
<br />notiCE: is given. In either eveJ;lt, or if Lender acquires the Praperty under Section 21 or otherwise, :&rrower hereby
<br />assigns to Lender (a) Borrower'$ rights to any msnrance proceeds in an amount not t(J exceed the amounts tmpaid
<br />under the Debt II:1litrument or this Security In.ttrument, and (b) any other of Borrower's rights (other than the right to
<br />any refund of unearned premiums paid by Borrower) under all Uuwance policies covering the Propeny, insofar as
<br />such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or
<br />:restore the Property or to pay amounts unpaid under the Debt Tnstrument or this SeCllrity Insl:r1.lnwnt, whether Q1' not
<br />then due, subject to the rights of any lienholder with rights to Ul$unnce proceeds that are superior to Lender's rights.
<br />
<br />ililmi.ii.iiilfiii.1i (5/4/06)
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<br />(pagl! 4 of J 3 pagr:s) .
<br />
<br />Documents ProCq,lje\J OZ.oZ-2OQ7, IS:1<l:11
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