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�O100739E
<br />Sorrower a notice identifying the lien. Borrower shall satisfy the lien or take one ar raZOre of the actions set forth
<br />above within 10 days of the giving of notice.
<br />Hazard or Property Insurance. Sarrower shall keep the improvements now existing or hereafter erected on the
<br />Praperry insured against loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br />including floods or floodiz�g, for which Lender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain
<br />coverage described above, Lender may, at Lender's option, obtain caverage to protect Lender's rights in the
<br />Froperty in accordance with section titled Protectlon of Lender's Rights in the Property.
<br />All insuarance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If I.ender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice
<br />to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrawer.
<br />Unless Lender and Borrower otherwise a�ree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if the xestoration or repair is ecanomically £easible and Lender's security is not
<br />lessened. If the restoration or repair is n�t economically feasible or Lender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Borrower. If Borrower abandons the Property, ar does not answer vv�tlun the number of days
<br />- presonbed by Applicable Law as set faxt� in a anvtice fro� ;=,ender to Sonawer that the iansurara.ca carrier has
<br />offered to settle a claim, then J..ender may collect the insurance proceeds. �.ender may use the proceeds to repair or
<br />restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The period of
<br />time for Sorrowex to answer as set forth in the notice will begin when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any applicatian 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 the payments. If under
<br />the section titled Acceleradan; Remedies, the Property is acquired by Lender, Bonower's right to any insurance
<br />policies and proceeds resulting frorn damage ta the Property prior to the acquisition shall pass to I.ender to the
<br />extent of the sums secured by this Security Tnstnunent ixnmediately prior to the acquisition.
<br />Preservation, Maintenance �nd Protection of the Property; Borrower's Loan Applicat�on; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste an
<br />the Property. Borrower shall be in default if any farfeiture action or proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the
<br />lien created by this Security Instrurnent or I.ender's security interest. Sorrower may cure such a default and
<br />reinstate, as provided in section titled Borrawer's Right ta Reinstate, by causing the action or praceeding ta be
<br />dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Sorrower's interest in
<br />the Prop�rty ar other material irnpairment of the lien created by this Security It�.st�ument or T.,ender's security
<br />interest. Sorrower shall also be in default if Sarrower, during the loan application process, gave rnaterially false ar
<br />inaccurate information or statements to Lender (or failed to provide Lender with any material information) in
<br />connection with the loan evidenced by the Contract. If this Security Insttument is on a leasehold, Sorrower shall
<br />comply with all the provisions of the lease. If Borrower acquires fee title ta the Froperiy, the leasehold and the fee
<br />title shall not merge uiiless I.ender agrees to the merger in writing.
<br />Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants ar►d agreements
<br />contained in tlus Security Instrument, or there is a legal proceeding that may sign.ificantly affect Lender's rights in
<br />the Property (such as a proceedung in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulations), then I,ender may do and pay for whatever is necessary to protect the value of the Property and
<br />Lender's rights in the Froperty. Lender's actions may include paying any sums secured by a lien which has priority
<br />over this Security Instrument, appearing in caurt, paying reasonable attorneys' fees and entering on the Praperty to
<br />make repairs. Although L�nder may. takc action under this section, I,�nder does not have to do so.
<br />Any arnounts disbursed by Lender under this section shall become additional debt of Borrower secured by this
<br />Security Instniment. Unless Borrower and Lender agree to other terms 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 I.ender to Borrower requesting payznent.
<br />Inspection. Lender or its agent may make reasonable entries upon and 'uaspections of the Property. Lender shall
<br />give Borrower notice at the tune of or prior to an inspection specifying reasonable cause for the it►spection.
<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 event of a total taking of the Property, the proceeds shall be applied to the su.tns secured by this Security
<br />Instrument, whether or not 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 af the Property immediately before the talcing is equal to ox greater than
<br />the amount of the sums secured by this Security Instrument immediately before the ta�king, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of
<br />the proceeds multiplied by the following fraction: (a) the total amount of the sttms secured immediately before the
<br />taking, divided by (b) the fair market value of the Property unmediately before the talting. Any balance shall be
<br />paid to Borrower. In the event of a partial taking of the Property in wb.ich the fair market value of the Property
<br />immediately before the taking is less than the amount of the sums secured 'unmediately before the taking, unless
<br />� 2004-2009 Compliauce Syatema, Inc. D02D-82DE - 2009.12.368
<br />Consumer Real Estate - Security Inahumcnt DL2036 � Page 2 of 5, www.compliaueesysteros.eom
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