200704727 - Laserfiche WebLink

Browse

200704727 DOC 10 #: 0001646J810105007 damIpd to avoid further dotoriorl&ioD or cJamaao. If Insuranc:e or condtnination proceeds Inl paid in connection with dluna&c to, or tho taking or. the Property, Bonower shall be responsible for repairina or Nl\toI'ina the Property only if Lc:ndor has rdtucd proceeds f(w auch purpoIlClI. lADder may disbuue proGOeda for the repairs and restoration io a siaafc paymCllt or in a 80ries of propelS payments II the work i. c:ompletcd. If the inturanctl or CODdMn...rintt proceeds Inl not sufficient to repair or restore the Property, Borrower it not relieved of Borrower'. obligation for the completioD of.uch repair or restoration. Lebder or its agent may make l'e8I01I8We Clfttria upon and iDspOctioDs of the Property. If it has reasonable CIUH, Lender may iDtpect the intarior of the improvementa OIl the Propert)'. lAnder Ihall givo Borrower DMicc at tho time of or prior to such III interior inspectlon specifying _ l'C8llOnablo cause. 8. Bornwer'. Lou AppIlcatloD. Borrower thall be. in default if, duriDg dtc Loaa application proeeu. Borrower or 1ft)' perso... or emidet .llOtinl at the direction of Bom:rwer or with Borrower'. kuowlcdgc or conleftt save mattriaUy faltc, misletlding, or inaccuratt information or llatementa to Lender (or failed to provide Lender with material infunnadon) in connection with the LoIIn. Material ftlptClSeIItations include, but are not limited to, representa1ions conccmina Borrower'a occupancy of the Propal)' 11$ 8orrower'I principal midence. 9. Protectloa ofLeader'alDfMlt Ia th. Property aDd Rip" Uader tfalI Searll)' IDitrument. If(a) Borrower fails to perfoan tho COVODIh" BOd qreements COlltlIiDed in this Security lllstrument, (b) these is a lepl proceeding that miJbt aipificantly afICct Lenda's interest in the Property and/or rights IIftder this Soourity Instrument (sa IS . prOceeding in b&nkrupIcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attaitI priority over this Smnity Initrumont or to onbce laws or regulations), or (0) Borrower has abIndoncd the Property,than Lender may do 8Ild pay for whatever is reasonable or appropriate to protoct LCftdcr's interest in tho Property and rishlB under Ibis Security 1rlItrument, inohading protoctinglUldlor 88lcasina the value of tho Propeny, 8IId securing and/or repairing the Property. Lcnder's ICtions ClIft include, but .... not limited to: (a) payina my sums SiC:Cl.nd by a lin which has priority over this Security 1rlItrqmeot; (b) llPPC8l'inI in court; and (0) payina reaoaable attorneys' fees to protact its lnternt in tile Property anclIor riahta unclcr this Security 1nstrumem. Including its ItCllred position in a benkruptcy prooeeding. Securin& the Property includes. but is I'lOt limited to, emer1DS the Property to mike repairs. chanao locks, replace or board up doorsllld whtdows, draiD wa1er &om pipe&. eliminate buiJdinl or other codevlolaticms or dangorous conditions, IIId have utiUties turned on or oft AJthoush Lender may tab ac:tioo under this Sc;ct.ioo 9, LeDder dOlI not have to do sollld ia not under any duty.or obligation to do so. It is asreed that Lender incurs IlO liabiUty for IIdt takiDJ any or all ICtionI autborizcd uDder this SectiOn 9. ADy amounts diabursed by Leader under this Section 9 shall bec:ome additiooal debt ofDonower *ured by this Security Instrumllllt. These lUDOunD 8hall bear intemt at the Note ra~ fiom the date of cHlbursement and shall be payable. with such interest. upcm notice fiGm Lcmder to Borrower requesting payment. If this Seewity IIIStruInent Is on a leuebold, Borrower shan ClOmply with all the provisions of the letse. If Borrower acquires fee title to the Property, the leasehold and the fee title shell not metp unlm Lender agreeJ to the merger in writina. 10. Mertpp I...naee, If Leader rcqu1rod Mortpge IDsuranoe 88 a condition of makina the Loan, Borrower shall pay the prcmiuma nquired to maiataiD the MortsIa.luurante iII.etl'eII:t. If, for any rcdon, the Mortgage InSUl'llllXl coverqe nqwl1d by Lender __ to be available fi'om the mortpge insurer dUll previously provided such IDat.nnco end Borrower was nquired to make scpatItely designated peymllllts toward tho premiums For Morcpp Insuruce. Borrower shall pay the premiums roquind to obtain coverap substlbtiaJIy. equivalent to the Mortpp Insuranco pm'Iously In dfect, at a OOIlSUbstamiaJly equivalent to the goat to Borrower of the .Mortpp InsUllllCC prevlousJy in oWect, ftom In alternate mortpp insurer selected by Londer. If subsWdially equi\lalent Mortpae In1urmce coverap is not available. ~ shall continue to pay to Lender the amount of the separately desipatod pa:ymcntl! that ~ due when the iDl\ll'lmiO coverage Ceased to be in effeet. Lender willlCCCpt, use ..w retain fhae payments. a oon-rofbndablc loa reserve in lieu of Mortga&e Insut8n<le. Such Ion "*"Ve shall be _.-refundable, notwithstanding the fact that the Loan is ultimately paid in fiiU.1JKI Lender shali not be required to pay Bonowor any interest oreaminp on lIICh Iou reserve. Lender 0811 no longer require loa I'OIlCl'Ve paymoatI if Mortpp InsUl'lllCe coverage (in the amount and fbr the periocI that. Leader nquim) provided by an insurer selected by Lender .,.;.. becomes available. Is obtained, and Ledder requires IICI*'ately desiped payments toward the premiums tbr Mortpae 1n8uranCo. If Lender required M(lrtp&e 1nJurance .. a eondltion of mlking the t.oan IUlcI IJoI1ov.W was required to make separato1)' dcsipated paym.ta towwd the promblms for Mortp.p blsul'ldllC, Borrower shall pay the premiums required to JDlintain MorttaP I~ in oft'ect. or to provlda . DOft-refimdable Iou reserve, UIldl Lender's requifement for Mortsaae Insurance ends in accordance with any written asrocmcnt between Bliln'oWer and Lender providing for stac:b termination or until termination is required by Applicable Law. Nothing in this Section 10 lIffiicts Bonowcr'. obligation to pay interest at the rate proYided in the Nolo. Mortaaac Insunnce reimbul'ses Lender (or Ill)' entity that purchases the N~) forc:ortain Jones it may incur ifBonower docuot repay the Loan -1I*d. Borrower ia not. part)' to the Mortpp 11lIUI'IIlOC. Mortpge insurers evalUlJ1e their total riik on all such insurance in roroc from time to time. and may enter into aarecments with other plUtia that shan or modify their risk, or reduce losses. .Thete qreemcmts are on terms IIld conditiobJ due 11'0 satisActury to the mortpp InIUl'tll' and the other pllJty (or perties) to these aarcemClltS. T'hese apements may require _ ~ Insurer to make paymonts using 811)' IOurte of ftmds that the mortpgo insurer may have available (which may include fundt obtaiDed from Mortpp Insuranoe premiums). 4It.eA(NE) (lH07) CHL (lIIIOI) "hf 11 'orm IOU 1101