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<br />'x' <br /> <br />200709288 <br /> <br />x <br /> <br />ifnot paid in that manner, Borrower shall pay them on time directly to the person owed payment. At the request of <br />Lender, Borrower shall promptly fi.mllsh to Lender receipts evidencing the payments. <br /> <br />Borrower shall promptly discharge any lien which has priority over this Security Instnullent unless Borrower: (a) <br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) <br />contests in good faith the lien by, or defends against enf(lrCement of the lien in, legal proceedings which in the <br />Lender's opinion operate to prevent the enlorcement of the lien; or (c) secures from the holder of the lien an <br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any <br />part of the Property is su~ject to a lien which may attain priority over this Security Instrument, Lender may give <br />Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth <br />above within 10 days of the giving ofnotice. <br /> <br />Hazard or Property Insurance. Borrower shall keL1> the improvemL11ts now existing or hereafler erectc:xl on the <br />Property insured against loss by fire, hazards includoo with in the term "extended coverage" and any othc,'r hazards, <br />including floods or flooding, for which Lender requires insurance. This insurance shall be maintainoo in the <br />amOlUlts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by <br />Borrower subject to Lt.'lHler's approval which shall not be unreasonably withheld. If Borrower fails to maintain <br />COVl,'Tage deseribc:xl above, Lender may, at Lender's option, obtain coverage to protect Lend(~r's rights in the <br />Property in aecordimce with section titled Protection of Lender's Rights in the Property. <br /> <br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. <br />Lender shall have the right to hold the policies and renL'Wals. If Lender requires, Borrower shall promptly give to <br />Lender all receipts of paid premiums and renewal notices. In the event ofloss, Borrower shall give prompt notice <br />to the insufiUlce carrier and Lender. Lender may make proof ofloss ifnot made promptly by Borrower. <br /> <br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or <br />repair of the Property damagc:xl, if the restoration or repair is economically feasible and Lender's security is not <br />lessened. H the restoration or repair is not economically feasible or Lender's security would be lessenc:xl, the <br />insurance proceeds shall be applied to the sums securoo by this Security Instrument, whethc'T or not thc'll due, with <br />any excess paid to Borrowc'T. If Borrower abandons the Property, or does not answer within the number of days <br />prescribc:xl by Applicable Law as set forth in a notice from Lender to Borrower that the insurance carrier has <br />ofl"crcxl to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or <br />restore the Property or to pay sums seL'Ured by this Security Instrument, whether or not then due. The period of <br />time for Borrower to answer as set forth in the notice will begin when the notice is given. <br /> <br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend <br />or postpone the due date ofthe payments referred to in the sections titled Payment of Principal and Interest; <br />Late Charges and Funds for Taxes and Insurance or change the amount of the payments. If under the section <br />titled Acceleration; Remedies, the Property is acquircxl by LC'llder, Borrower's right to any insurance policies and <br />procecxls resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the <br />sums secured by this Security Instrummt immediately prior to the acquisition. <br /> <br />l)reservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. <br />Borrower shall not destroy, damage or impair the Properly, allow the Property to deteriorate, or commit waste on <br />the PropL'I1y. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun <br />that in Lender's good faith judgment could result in forfeiturc ofthe Property or otherwisc materially impair the <br />lien created by this Security Instnnnc'nt or Lender's security interest. Borrower may cure such a defimlt and <br />reinstate, as providoo in section titled Borrower's Ri~ht to Reinstate, by causing the action or proceeding to be <br />dismisscxl with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrow<:''f's interest in <br />the Property or otller material impairment of the lien created by this Security Instrument or Lender's security <br />interest. Borrower shall also be in delimIt if Borrower, during thc loan application process, gave materially false or <br />inaccurate infbrmation or statemcnts to Lcndc'f (or failed to provide Lender with any material information) in <br />connection with the loan c'Videncc:x1 by the Note. If this Security Instrument is on a leasehold, Borrower shall <br /> <br />I;) 2004-2007 C"pYlight. Compliance 8)"101'.> 11Ic. RC9C-F92A - 2007.01.201 <br />COT1l1UlnerReal ElIt~t.c:: - Secl,.II1ty Imt,I'l1J'f'lCl11. DI.2D36 <br /> <br />Page> orR <br /> <br />www.c(lmplial1c~ystems.com <br />ROO-96R-R522 - Fax 616-956-!R6R <br /> <br />/# <br />~ <br />