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<br />200710429
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<br />part Df the Property is subject to a lien which can attain priority over this Security Instrulllent, Lender
<br />Illay g.i\'~' Borrower a notice identifYing the lien. Within 10 days of the date on which that notice is
<br />given, Borrower shall satislY the lien or take one or more of the actions set forth above in this Section
<br />4.
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<br />I,ender may require Borrower to pay a one-time charge for a real estate tax verification and/or
<br />reporting service used by Lender in connection with this Loan.
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<br />:;, Property Insurance, Borrower shall keep the improvements now existing or hercuCler erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage." and any
<br />utileI' hazards including, but not limited to, earthquakes and noods, /()r which Lender requires
<br />insllrance. This insurance shall be maintained in the lImOllllts (including deductible levels) and for the
<br />periods that I,ender requires. What Lender requires pursuant to: the preceding sentences can change
<br />during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower
<br />subject to [,ender's right to disapprove Borrower's choice, which right shall not be exercised
<br />unreasonably. Lender fllay require Borrower to pay, in connection with this Loan, ",ither: (a) a one-time
<br />charg(~ lill' tlood zone determination, certi/1cation and tracking services; or (b) a one-time charge !(l!'
<br />flood zone determination and certitication services and subsequent charges each time remappings or
<br />similar changes occur wbich reasonably might affect such determination or certil1cation. Borrower
<br />shall also be responsible for the payment of any fees imposed by 'the Federal Etnergency Management
<br />Agcncy in connection wHh the revie,,\' of any flood zone determination resulting from an objection by
<br />BorrO\\ler.
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<br />I r Borrower fails to maintain any of the coverages described above, Lender may obt:lin insurance
<br />cOVl'r,lge, at Lentkr's option and Borrower's expens('. Lender is,under no obligation to purchilse any
<br />rXlrticular type or amount of coverage. 'rherefore, such coverage shall cover I,ender, but might 01' might
<br />not protect Borrower, BorrolVer's equity in the Property, or the contents of the Property. against any
<br />risk, hazard or liability und Inight provide greater or lesser coverage than was previously ili drcct.
<br />BorrolVer acknowledg.cs that the cost of the insurance coverage so obtained Inight signilkilntly exceed
<br />the COSt or insurance that Borrower could bave obtained. Any amounts disbursed by Lemkr under this
<br />Section 'i shall become additional debt of BOrrower secured by this Security Instrument. 'fhese
<br />al110unts shall hear interest at the Note rate fhHl1 the date of disbursement and shall be payahle, with
<br />such interest, upon notice frotH Lender to Borrower requesting payment.
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<br />:\11 insurance policies required by Lender and renewals of such policies shall be subject to Lender's
<br />right to disapproVl' slIch policics, shall include a standard mortgage clause, and shall name Lender as
<br />rllortgagcc and/or as an additional loss payee. Lender shall have the right to hold the policies and
<br />renewal certiticates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid
<br />premiums and renewal notices. If Borrower obtains any fOrm of insurance coverage, not otherwise
<br />required by Lender, nlr damage to, or destruction of, the Property, such policy shall include it standard
<br />mortgage clause and shall name Lender as mortgagee and/of as an add itionalloss payee.
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<br />I n the event of loss, Bon-ower shall give prompt notice to the insurance c,\rricr and Lender. Lender may
<br />make proof of loss if not made promptly by BolTtnver. Unless Lender and Borrower otherwise agree in
<br />writing, any insurance proceeds, whether 01' not the underlying insurance was required by LendtT, shall
<br />be applied to restoration or repair of the Property, if the restoration or repair is economically feasible
<br />and Lender's security is not lessened. During such repair and restoration period, I.ender shall havt~ the
<br />right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property tQ
<br />cnsun; the work has been completed to Lcnder's satisfaction, provided that such inspection shall be
<br />undertaken pl'(1Il1ptly.Lender may disburse proceeds fOr the repairs and restoration in a single payment
<br />Of' in a series of progress payments as the work is completed, Unless an agl'eement is made in writing or
<br />Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to
<br />pay [:Iol'lower any interest or earnings on such proceeds. Fees for public adjusters, or other third
<br />panics. r~,tained by Borrower shall not be paid out of the insurance proceeds and shall be the sole
<br />obligation of Borrower. If the restoration or repair is not economically feasible or I.ender's security
<br />would be lessened, the insurance proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds
<br />shall be npplied in the order provided f()r in Section 2,
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<br />If Borrower abandons the Property, Lender may file, negotiate and settlc any available insurance claim
<br />and related maners. If Borrower docs not respond within 30 dilYS to a notice f1\H11 Lender that the
<br />insurance carrier has offered 10 settle a claim, then Lender may negotiate and settle the claim. The 30-
<br />day period will begin when the notice is given. In either event, or if Lender acquires the Property under
<br />Section 22 or otherwise, Borrower hereby assigns to Lender (n) Borrower's rights to any insurance
<br />proceeds in an amount not to exceed the amounts unpaid under thc Note or this Security Instrument.
<br />and (b) any other of BOlT(rwer's rights (other than the right to any refund of unearned premiurns paid
<br />by Borrower) under all insurance polides covering the Property, insoJ1lr as stich rights arc applicable to
<br />the wverage of the Property, Lender may use the insurance proceeds either to repair or rcstore the
<br />Property or to pay amounts unpaid under the Note or this Security Instnnnent, whether or not then due.
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