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200707967 comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the 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 Property (such as a proceeding in bankruptcy, probate, for condenmation 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 tillS section, Lender does not have to do so. Any amounts disbursed by Lender under this section shall become additional debt of Borrower secured by tllis Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at tl1e Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay tl1e premiums rcquinxl to maintain the mortgage insurance in ctrect. II; lor any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay tile premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to tl1e cost to Borrower of the mortgage insurance previously in e/lect, from an alternate mortgage insurer approved by Lender. Ifsubstantially equivalent mortgage insurance COVL'fage is not available, Borrower shall pay to Lender each montl1 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 tile option of Lender, if mortgage insurance coverage (in the amoWlt and for the period that Len(k-T requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay tile 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. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at tile time of or prior to an inspection specifying reasonable cause for tile inspection. . Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condenmation or other taking of any part of tile 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 the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument shall be reduced by the amowll of the proceeds multiplied by the following fraction: (a) the total amount of tile 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 before the taking is less than the amount of tile sums secured immediately before the taking, lUlless Borrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall be applied to tile SUlllS secured by this Security Instrument whether or not the sums are then due. If tile Property is abandoned by Borrower, or if; after notice by Lender to Borrower that the condemnor olrers to make an award or settle a claim for damages, Borrower fails to respond to Lender within the minimum number of days established by Applicable Law after the date the notice is given, Lender is authorized to collect and apply the proceeds, at it~ option, eitller to restoration or repair of the Property or to the sums stx.,'ured by tllis Security Instrument, whether or not tl1en due. t> 2004.2007 Copyright Compli,"". S'I'toms. IIlC. 8C9C-E6DS - 2007.01.201 Comumol' Roo! E,t.to - Soourity Imtl'UffiOllt DL2036 r.ge 4 ef8 www.compliance1ly~tem!j..com HOO-96H-HS22 - Fa>< 616-9S6-IH6H