200709477 - Laserfiche WebLink

Browse

200 709 471' 9. Ptoteetion ot Lender's Interest in the Property and Rijhts Under this security Xnetnnnent. If (a) Borrower fails to perform the covenants and. agreements contained in this Security Insl:rummlt. (b) there is a legal proceeding that might significantly affect Lender' $ interest in the Property and/or rights under this Security Instrument (such AS a proceeding in banknJptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this SecudtY Instrument or to enforce laws or regulations), or (c) llorrower has abandoned the Property, then l.e11der may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Propeny and rights under this Security InsWDlent, inclU(l.ing protecting and./or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priotlty over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/Dr righttl under this Security Instrument, including. its secured position in a bankmptcy proceediD,g. Securing the Property includes, but is not limited to, entering the Property to make repairs, ohanie locks, replace or bDW up doors and windows, drain water from pipes, eliminate building or other code violations or dangerDus conditions, and have utilities turned on or off. Although Lender may take actiDn under this Section 9, Lender does not have to do so and is nDt under any duty or obligation to do so. It 19 agreed that Lender incurs no liability for not taking any. or all actions authDrized under this Section 9. AJry amounts di$bursed by Lender under this Section 9 shall become .ctditional debt of Borrower secured by this Security Instrument. These amounts shall bear intm:st at the Note rate from .the date of disbursement and shall be payable, with such interest, upon notice from Lender to BDrrower requesting payment. If this Security Instrument is on a lwehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Propeny, the leasehold and the fee title shall not merge unle48 LeMer agree8 to the merger in writing. 10. Mortgage Insurance. If Lender required MDrtgage Insurance as a condition of making the Loan, BorroVler shall pay the premiWll requixed to tnaintain Ihe MDrtgage Insurance in effect. If, fDr -any reason, the Morts;age Insurance coverage required by Lencler ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to Dbtain coverage substantially equivalent to the Mortgage InsW'ilDCtl previOu$ly h1 effect, $I a cost substantially equivalent to the cost to Borrower of the Mortgase Insurance previously in effect, from an alternate wOl1gage insurer selected. by Lender. If substantially equivalent Mortgage Insurance ~verage is not available, Borrower shall continue to pay to Lender the amO\lnt of the separately deaignated payments that were clue when the insurance coveragl! ~ased to be in effect. Lender will accept, use and main these payments as a non-refundable loss reserve in lieu of MortS;ase Insuranee. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall nDt be required to pay Borrower any interest or earninss Dn such los~ reserve. Lender can no longer requite loss reserve payments if Mor[gage Insurance coverage (In the amount and for the period that Lender requires) provided by an insurer selected by Lender aaiilil becomes avaUable, is obtained, ~d Lender requires separately designated payments toward the premiums fDr Mortgage Insurance. If Lender required Mongage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premwns requb:ed to maintain Mortgase Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insl1rance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects BolTOwer's obligatiDn to pay' interest at the rate provided in the NDte. Mortgage Insurance reimburses Lender (or any entity that purchucs the Nme) for certain los8ea it may incur if BDrrower dDes not repay the Loan as agreed. BOrrower is not a party to the Mort&age lnsurance, Mortgage insurers evaluate their total risk on all such insurance In force from time to time, and may enter into agreements with other parties that lJhare or modify their risk, or reduce IDlise8. These agreement$ are on terms and conditions that are satisfactory to the mongage insurer and the other party (or parties) to these agreements. These agreements may require the mortilie insurer to make payments usms any source of funds that the mortgage insurer may have available (whiQb. may include funds obtained from Mortgage Insurance premiums). G-SINElIOOOlil '" Pog<: hI Iii lniti818:M-'lR , 'Form 3028 1/01