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200901633 the Property. Borrower shall be in detault if any forfeiture action or procceding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Propcrty or otherwise materially impair the lien <.:reah:d by this Security Instrument or Lender's security interest. Borrower may <.:ure su<.:h a default and reinstate, as provided in section titled Borrower's Right to Reinstate, by causing the action or proceeding to be dismissl:d with a ruling that, in Lender's good faith dctermination, prceludcs forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lcnder's security intercst. Borrower shall also be in default if Borrower, during the loan application proccss, gave matcrially false or inaccurate infbrmation or statements to Lemkr (or fi'liled to provide Ll:nder with any material information) in connection with the loan evidenced by the Contrad. If this Se<.:urity Instrument is on a leasehold, Borrower shall 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 agrces 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 eondcmnation 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 Properly. 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 Ll:nder may take action under this section, Lender does not have to do so. Any amounts disbursed by Lender under this section shall become additional debt of Borrower sl:<.:ured by this Se<.:urity Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interl:st from thl: date of disbursement at the same rate assessed on advances under the Contract and shall be payable, with interest, lIpon notice from Lender to Borrower requesting payment. 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 spedfying reasonable cause for the inspection. Condemnation. The proceeds of any award or claim for damages, dire<.:t or wnsequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of wndemnation, are hereby assigned and shall be paid to Lender, In the event of a total taking of the Property, thc proceeds shall be applied to the slims se<.:ured by this Se<.:urity Instrument, whether or not then due, with any ex<.:ess 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 securcd by this Security Instrument immcdiately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be rcduced by the amount of the proceeds multiplied by the fbllowing fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair 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 the fair market value of the Property immediately before the taking is less than the amount ofthe sums secured immediately before the taking, unless Borrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the 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 fbr damages, Borrower fails to respond to Lender within the minimum number of days established by Applicable Law aftcr thc date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the payments due under the Contract or change the amount of such payments. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in 'r:.i 2004-2001ol Copyrighl COl11pliall(;!:' S'y:items, Inl:;. 74ED-05HD 200IUO.2!-l9 Consumt:r Reu] F!>t!lll;' - S(,:'-.:Ilrity h\!itrumenl DL2036 Page 3 01'7 WWw.coll1phallc~systl;.m!;.com ROO-9IiR-Rl22 - Fa, 0I/;-9lo-1 RoR