|
200909689
<br />n9ossai9
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior
<br />to such an interior inspection Specifying such reasonable cause.
<br />S. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Bonawer or
<br />any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
<br />misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in
<br />connection with the Loan, Material representations include, but are not limited to, representations concerning Borrower's
<br />occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower
<br />fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might
<br />significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in
<br />bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security
<br />Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may da and pay for
<br />whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,
<br />including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can
<br />include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b)
<br />appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this
<br />Security lnstrnment, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not
<br />limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes,
<br />eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may
<br />take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that
<br />Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Nate rate from the date of disbursement and. shall be payable, with
<br />such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. Borrower
<br />shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall
<br />not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acquires fee title to the
<br />Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall
<br />pay the premiums required to maintain the Mortgage Insurance in effect, If, for any reason, the Mortgage Insurance coverage
<br />required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was
<br />required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the
<br />premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost
<br />substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage
<br />insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to
<br />pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in
<br />effect, Lender will accept, use and retain these payments as anon-refundable loss reserve in lieu of Mortgage Insurance. Such
<br />loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be
<br />required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if
<br />Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender
<br />again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage
<br />Insurance. If bender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide anon-refundable loss reserve, until Lender's requirement for Mortgage
<br />Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate
<br />provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Borrower does not repay the Loan as agreed. Borrower is not 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
<br />Nk13RAS1{A-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />338.2 Page G of 11 Form 3028 1/01
<br />
|