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200709774 reinstate, as provided in section titled Borrower's Right to Reinstate, by causing the 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 default 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 intormation) in connection with the loan evidenced by the Note. If this Security Instrument is on a leasehold, Borrower shaIl 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 per/brm 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 /brfciture or to enlorce 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 tlle Property to make repairs. Although Lender may take action under this section, Lender docs not have to do so. Any amounts disbursal by Lender 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 amounts 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 paymmt. Mortgage Insurance. If Lender requiral mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the pretlliums 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 clTect, Borrower shall pay the premiums required to obtain coverage substantially equivalent to tlle mortgage insurance previously in effect, at a cost substantially equivalent to tlle 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 montll 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 requiral 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 the time of or prior to an inspection specifying reasonable cause tor the inspection. Condemnation. The proceeds of any award or claim for 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 tlle event of a total taking of the Property, the proceeds shall be applied to tlle 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 tlle amount of the proceeds multiplied by tlle following fraction: (a) the total amount of the &ums secured immediately belbrc the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shaIl 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 the sums secured immediately before the taking, unless Borrower and Lender otllerwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall be applied to tlle SunlS secured by this Security Instrument whether or not the sums arc then due. l) 2004.2007 Copyright CU"'pli",>co SY'tOlnS, ,,>C. 8C9C.F429 . 2007.01.201 Consufllm' RetLl Esta.te . Security Instnunont DL2036 Pago 4 of8 www.compliancel/.y~t.~~.com 800-968-8522 - Fax 616-956-1868