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200904354
<br />restore the; Property or to pay sums secured by this Security Instrument, whether or not then due. The period of
<br />time for Borrower to w4wer as set forth in the notice will begin, when the notice is given.
<br />Unless I*e I der and Borr'owpr otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due dat; of the payments referred to in the sections titled Payment of Principal and Interest;
<br />Late Charges and Funs for Taxes and Insurance or change the amount of the payments. If under the section
<br />titled Acceleration; Remedies, the Property is acquired by Lender, Borrower's right to any insurance policies and
<br />proceeds 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 Instrument immediately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on
<br />the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in %ender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the
<br />lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and
<br />reinstat 4s provided iui section titled Borrower's Right to Reinstate, by causing the action or proceeding to be
<br />dismiss 'd with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in
<br />the Prope>I or other material impairment of the lien created by this Security Instrument or Lender's security
<br />interest. iBorrower shall also be in default if Borrower, during the loan application process, gave materially false or
<br />inaccurate information or statements to Lender (or failed to provide Lender with any material information) in
<br />connectiIon with the loan evidenced by the Note. If this Security Instrument is on a leasehold, Borrower shall
<br />comply all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee
<br />title sha of merge unlrrss Lender agrees to the merger in writing.
<br />Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
<br />contained in this Securily Instrument, or there is a legal proceeding that may significantly affect Lender's rights in
<br />the Property (such as, a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulatidt ), then Lend x may do and pay for whatever is necessary to protect the value of the Property and
<br />Lendeesi ghts in the P rpperty. Lender's actions may include paying any sums secured by alien which has priority
<br />over thin Security Ins t rument, appearing in court, paying reasonable attorneys' fees and entering on the Property to
<br />make repairs. Although sender may take action under this section, Lender does not have to do so.
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<br />Any amounts disbursed! by Lender under this section shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
<br />interest from the date ofidisbursement at the Note rate and shall be payable, with interest, upon notice from Lender
<br />to Borrow' r requesting ayment.
<br />Mortga�:6 Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this
<br />Securi ty I strument,'Bo' ower shall pay the premiums required to maintain the mortgage insurance in effect. If, for
<br />any reas�o 11 the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall
<br />pay the premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in
<br />effect, at a cost substa> iially equivalent to the cost to Borrower of the mortgage insurance previously in effect,
<br />from an'aliernate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is
<br />not available, Borrower shall pay to Lender each month a sum equal to one - twelfth of the yearly mortgage
<br />insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. Lender
<br />will acc pt, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments
<br />may no of ger be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the
<br />period that Lender requres) provided by an insurer approved by Lender again becomes available and is obtained.
<br />Borrower hall pay the remiums required to maintain mortgage insurance in effect, or to provide a loss reserve,
<br />until the requirement. f r mortgage insurance ends in accordance with any written agreement between Borrower
<br />and Lennie or Applicab a L'
<br />Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Boirgwer notice �at� the 'time of or prior to an inspection specifying reasonable cause for the inspection.
<br />Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the eyept of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrumnn(, whether or Inot then due, with any excess paid to Borrower. In the event of a partial taking of the
<br />Property, in which the fair market value of the Property immediately before the taking is equal to or greater than
<br />the amo' It of the sumsi secured by this Security Instrument immediately before the taking, unless Borrower and
<br />Lender othe rwise agree �. n writing, the sums secured by this Security Instrument shall be reduced by the amount of
<br />the proc eds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />taking, i iv�ided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to rrower. In the event of a partial taking of the Property in which the fair market value of the Property
<br />immediate ly before the taking is less than the; amount of the sums secured immediately before the taking, unless
<br />Borrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall
<br />be appl d to the sums secured by this Security Instrument whether or not the sutras are then due.
<br />If the P ' ' erty is abandpned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settler a claim for damages, Borrower fails to respond to Lender within the minimum number of
<br />days estab}ished by Applicable Law after the date the notice is given, Lender is authorized to collect and apply the
<br />® 2004 -2008 Co$ '&ht Compliance S4tems,Jnc. 74ED -F34C - 2008.10.289 www.compumcesy3tems.com
<br />Consumer Real Ektate - Security ins t I L2036 Page 3 of 6 800 -968 -8522 - Fax 616- 956 -1868
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