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200705021 reinstate, as provided in section titled Borrower's Right to Reinstate, by causing tlle action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture ofthe Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in delimit if Borrower, 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. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and tlle fee title shall not merge unless Lender agrees to the merger in writing. Protection of Lender'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 Propto'l1y (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 tlle value of the Property and Lenc\(,T'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 attomeys' fees and entering on the Property to make repairs. Although Lender may take action under this section, Lender docs not have to do so. Any amowlts disbursed by L('1Id('T under this section shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amowlts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting paymcnt. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrowto'f shall pay the premiums required to maintain tlle mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, 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 Borrower of the mortgage insurance previously in efrect, from an altemate mortgage insurer approved by Lender. Ifsubstantially equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being paid by Borrower 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 Llo1Hk'r requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the rcquircment tor mortgage insurance ends in accordance with any written agreement betwecn Borrower and Lender or Applicable Law. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall b>ive Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. Condemnation. The proceeds of any award or claim lor 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, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of tlle Property in which the tair market value of the Property immediately before ilie taking is equal to or greater than the amount of the sums secured by this Security Instrument shall be reduced by ilie amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately belore the taking is less than the amount ofilie sums secured immediately before the taking, wlless Borrower and Lender othloTWise agree in writing or tmless Applicable Law oilierwise provides, the proceeds shall be applied to the SunlS secured by tills Security Instrument whether or not the sums are then due. <I') 2004.2007 Copyligh' Compli,ncc S}"'om>. IlIc. 8C9C-C636. 2007.0LZOI Consmnc-l' Real Est.ate - Secw"ity IUSt.I"UJnc::T11. DI,.2036 Pa.go: 4 of8 www,comphanc(:lIYIl1.em:J.cow 800.968.8522. Pax 616.956.IH68