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200947784
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If ii has reasonable cause, Lender may
<br />inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior
<br />inspeotlnn spealfyfng such reasonable cause.
<br />B. Borrower's Loan Application. Borrower shall be in defauk if, during the Loan application process, 8orrower yr any
<br />parsons or enikies acting at the direction of Bnrrower or with Borrower's knowledge er consent gave materially false, misleading, or
<br />inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Lvan.
<br />Material representations include, but are not limited to, representations containing Borrower's occupancy of the Property as
<br />Borrower's principal residence,
<br />9. Protection of Lender's Interest In the Prapetty and Rights Under this Security Instrument. n (a) Borrower
<br />fails to perform the covenants and agreements contained in tfihis Security Instrument, lb) there is a legal proceeding that might
<br />signNicantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy,
<br />robate, Tor condemnation or forfeiture, for eniorcament of a lien which may attain pricrhy over this Security Instrument or tc enforce
<br />Paws or regulations), or (c) Borrower has abandoned the Property, then Lender may dv and pay far whatever is reasonable or
<br />appropriate to protect Lender's interest in the Propeny and rights under this Security Instrument, including protecting and/or
<br />assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not IlmRed to:
<br />(a) paying any sums secured by a lien which has priorRy aver this Security Instrument (b) appearing in vvurt; and c) paying
<br />reasonable attorneys' Tees to protect its interest in the Property and/or rights under this security instrument, including ' s secured
<br />position in a bankruptcy proceeding. Securing the Properly includes, put is net limited to, entering the Property io make repairs,
<br />change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other Dods violations or
<br />dangerous oondi4ons, and have utilities turned on or off. Afthvugh Lender may take action under this Section 9, Lander does not
<br />have to do so and is not under any duty or obligation to do so. It is agreed that Lander incurs no liability ivr not taking any or all
<br />actions authorized under this Section 9.
<br />Any amounts disbursed by Lander under this Section 9 shall become additional debt of Borrower secured by this Security
<br />Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, wfth such interest,
<br />upon notice from Lender fo 8orrpwer requesting payment.
<br />If this 5®curity Instrument is vn a leaseheld, Borrower shall comply with all the provisions of th® lease. If Borrower acquires fee
<br />title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in wrfting,
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Lvan, borrower shall pay
<br />the premiums required to maintain the Mortgage Insurance in effect. If, ivr any reason, the Mortgage insurance coverage required by
<br />Lender ceases tv bs available from the mortgage insurer that previously provided such insurance and Borrower was required fo make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain
<br />coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the vost to
<br />Borrower of the Mortgage Insurance previously in efTect, from an aRemate mortgage insurer selected by Lender. If substantially
<br />equivalent Mortgage Insurance coverage is not available, Bnrrower shall continua tv pay to Lender the amount of the separately
<br />designated payments that were due when the insurance voverage ceased to be in effect, Lender will accept, use and retain these
<br />pa merits as anon-refundable loss reserve in lieu of Mortgage insurance. Such loss reserve shall be non-refundable,
<br />notwithstanding the fact that the Lvan is ultimately paid in full, and Lender shall not b® required to pay Borrower any interest yr
<br />earnings on such Ices reserve, Lender van no longer require loss reserve payments ii Mortgage Insurance coverage (in the amount
<br />and for the period that Lender requires) provided by an insurer selected by Lender again becom®s available, is obtained, and Lender
<br />requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a
<br />condition of making the Loan and 8orrower was required to make separately designated payments toward the premiums for
<br />Mortgage Insurance, 8orrower shall pay the premiums required tv maintain Mortgage Insurance in effect, or tv provide a
<br />non-refundable Ives reserve, until the Lender's requirement for Mortgage Insurance ends in accordance wish any written agreement
<br />between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this
<br />Section 1 u affects Borrower's obligation tv pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender ((ar any entityy that purchases the Note) for certain losses R may incur If Borrower does
<br />not repay the Loan as agr®ed. Borrower is riot a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with
<br />other parties that shore or mods~r their risk, or reduce lasses. Those agreements are on terms and conditions that are satisfactory to
<br />the mortgage Insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to
<br />make payments using any source of funds that the mortgage insurer may have available (which may include Tunds obtained lrom
<br />Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any
<br />affiliate of any of the foregoing, may receive (directly or indirectly)) amounts that derive from (or might be characterized as) a portion
<br />of Borrower's payments for Mortgage Insurane®, in exchange for sharing or modifylnq the mortgage insurer's risk, or reducing
<br />losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk In exchange for a share oT the
<br />premiums paid to the insurer, the arrangemeht Is often termed "vaptive reinsurance." Further:
<br />{a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund,
<br />(b) Any such agreements will not affect the rights 8orrower has - if any -with respect to the Mortgage
<br />Insurance under the Hamacwners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, andlor to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeitur®. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender
<br />shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for
<br />the repalr5 and restoration in a single disbursement or in a series of progress payments as the work is completed, Unless an
<br />agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proveeds Lender shall not be
<br />requred to pay Borrower any interest or earnings on such Miscellaneous Proceeds, li the restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall b® applied to the sums secured py this Security
<br />Instrument, whether or not then due, with the excess, H any, paid to 8orrower. Such Miscellaneous Proceeds shall be applied in the
<br />order provided for fn Section 2.
<br />in the event of a total taking, destruction or loss in value of the Propeny, the Miscellaneous Proceeds shall be applied to the
<br />sums secured by this Security instrument, whether or not then due, wRh the excess, 'rf any, paid tv 8orrower.
<br />N66>aA6xA.4.irgle Family-Fennle piea~F,eddie Mac l1NIFORM INSTFUMENY Farm 90q! 1Po7 (p~p~ 401 7 pRpes)
<br />902E NE WT 01N7 P64
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