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20090'7545
<br />Preservation, Maintenance and Protection of the T'woperty; Tiorro~ver's T.oan Application; C.cascholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the F'ropcrty to deteriorat:c, or commit waste on
<br />the I'ropcrty. Borrower shall be in default ifany firrtciturc action or proceeding, whether civil or criminal, is begun
<br />that in l,cndcr's good faith •judgmcnt could result in forfeiture of the. Property or otherwise materially impair the
<br />lien created by this Security Instrument or C..ender's security interest. Borrower may cure such a def~ndt and
<br />reinstate, as provided in section titled Borrower's Right to Reinstate, by causing the action or proceeding to be
<br />dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture oi'thc 13orrowcr's intcrest in
<br />the Property or other material impairment of the lien created by this Security Instrument or L,ender's security
<br />intcrest. Borrower shall also be in default ifT3orrower, during the loan application process, gave materially false or
<br />inaccurate information or statements to Lender (or tailed to provide Lcndcr with any material information) in
<br />connection with the loan evidenced by the Contract. If this Security lnstrumcnt is on a leasehold, Borrower shall
<br />comply with all the provisions of the (case. If Borrower acquires fee title to the Property, the leasehold and the fee
<br />title. shall oat merge unless Lender agrees to the merger in writing.
<br />Protection of Lender's Ttights in the Property. Tf Torrower fails to perform the covenants and agreements
<br />contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in
<br />thc~ Property (such as a proceeding in bankruptcy, probate, Ibr condernnatinn or forfeiture or to enforce laws or
<br />rcgc.tlations), then Lender may do and pay for whatever is necessary to protect the value oi' the Property and
<br />L,cncler's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority
<br />over this Security Instrument, appearing in court, paying reasonable attorneys' Pecs and entering on the Property to
<br />make repairs. Although bender may take action under this section, Under does not have to do so.
<br />Arry amounts disbursed by Lcndcr under this section shall become additional debt of Borrower secured by this
<br />Security lnstrumcnt. Unless Borrower and Gender agree to other tern7s of payment, these amounts shall bear
<br />interest from the date of disbursement at the same rate assessed on advances under the Contract and shall be
<br />payable, with interest, upon notice from Lender to Borrower requesting payment.
<br />Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lcndcr shall
<br />give Borrower 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 conscyucntial, in connection with any
<br />condemnation or other taking of any part of the Property, or for convcyancc in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Insn•umcnt, whcthcr or not then due, with any excess paid to I3orrnwer. 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 amount of the sums secured by this Security lnstrumcnt inu~aediately before the taking, unless Borrower and
<br />Lcndcr otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amot.ml of
<br />the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before. the
<br />taking, divided by (h) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Corrower. In the event of a partial taking of the Property in which the fair market value of the Property
<br />inuiicdiatcly before the taking is less than the amount of the sums secured immediately before the taking, unless
<br />Burrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall
<br />be applied to the Sums secured by this Security lnstrumcnt whcthcr or not the scans arc then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lcndcr to Lorrower that the condemnor offers to
<br />make an award or settle a claim fi>r damages, 13nrrower fails to respond to L,endcr within the minimum number of
<br />days established by Applicable Caw after the date the notice is given, Lcndcr is authoriccd to collect and apply the
<br />proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security
<br />lnstrumcnt, whether or not then due.
<br />IJnless Lcndcr and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of the payments due under the Contract or change the amount of'such payments.
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