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.' 200708757 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 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 section, Lender does not have to do so. Any amounts disbursed by Lender under tllis section shall become additional debt of Borrower secured by this Stx.'urity 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 payment. 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 effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in c1lect, 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 tlle mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to one-twelfth of tlle 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 tlle 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. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement tor mortgage insurance ends in accordance witll any written agreement between Borrower and Lender or Applicable Law. Inspection. Lender or it~ agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at tlle time of or prior to an inspection specifying reasonable cause for the inspection. Condemnation. The proceeds of any award or claim tor damages, direct or consequential, in connection Witll any condemnation or otller 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 tllen due, witll any excess paid to Borrower. In tlle event of a partial taking of tlle Property in which the fair market value of tlle Property immediately before tlle taking is equal to or greater than the amount of tlle sums secured by this Security Instrument shall be reduced by the 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 filir 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 tlle fair market value of the Property immediately before the taking is less than the amount of the sums secured immaliately before the taking, unless Borrower and Lender otllerwise agree in writing or unless Applicable Law otherwise provides, tlle proceeds shall be applied to the sums secured by tllis Security Instrument whether or not tlle SunlS are tllen due. Ifthe Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim tor damages, Borrower fails to respond to Lender witllin the minimum number of days established by Applicable Law after the date the notice is given, Lender is autllOrized to collect and apply tlle proceeds, at its option, either to restoration or repair of the Property or to tlle sums secured by this Security Instrument, whether or not then due. C> 2004.2007 Copyright Compliance S:,otcml, I,.,. 8C9C-5C35 - 2007.01.201 COlllHoner Real E,tate - Security Imtrumcnl DL2036 rage 4 of8 www,compliancesY!Jtc:nu.CQID 800-968-8522 - F"" 616-956-1868 ~- .--