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<br />Borrower a notice identifying the 1ien. Borrower shall satisfy the lien or take one oc more af the actions set forth
<br />above within 10 days of tlie giving of notice.
<br />Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included witltin the term "extended coverage" and any other hazards,
<br />including floods nr flooding, for which Lender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insuranc� carrier providing the insurance sha11 be chosen by
<br />Borrower subject to Lender's approval which shall not be unreasonably witliheld. lf Barrower fails to maintain
<br />coverage dascribed above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
<br />1'roperty in accordance with section titled Protection of Lender's Rights in the Property.
<br />All insurance policies and renewals sl�all 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 />I.ender all receipts of paid premiums and renewal notices. Tn 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 Borrower.
<br />Unless L,ender and Borrower otl�erwise agree in writing, insurance proceeds shall be applied ta restoration or
<br />repair ot' the Property damaged, if the re5toration or repair is economically feasible and Lender's security is not
<br />lessened. If the resCoration or repair is not econnmically feasible or I.ender's security would be lessened, tha.
<br />insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid ta Borrower. If Borrower abandons the Pmperty, or does not answer within the number of days
<br />prescribed by Applicable Law as s�t forth in a notice fram Lender to Borrower that the insurance carrier has
<br />otfered to settle a claim, then Lender may collect the insurance proceeds. Lender rnay use the proceeds to repair or
<br />restore the Property or to pay sums secured by this Security Instrument, whether or nat then due. The period of
<br />time for Borrower to answer as set forth in ttie notice will begin when the notice`is given.
<br />Unless Lender and Borrawer otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpnnc; tl�e due date of the payments due under the Contract or change the amount of the payments. IF under
<br />the section titled Acceleration; Remedies, the �'roperty is acquired by Lender, Borrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the
<br />extent of the sums secured by this Security Instrument immediately priar to the acquisition.
<br />Preservatinn, Maintenance and Protectian of the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or cornmit waste on
<br />fhe Property. Borrower shall be in default if any forfeiture action or proceedin�; whether civil or criminal, is begun
<br />chat in Lender's good faitli judgment could result in forfeiture of the Property or otherwise m,aterially impair the
<br />lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and
<br />reinstate, as provided in S�ction 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 determinaCion, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impairment of the lien created by fhis Security Instrument or Lender's security
<br />interest. Borrower shall also be in default if Borrower, during the loan application process, �ave materially false or
<br />inaccurate information or statements to Lender (or failed to provide Lender with any material information) in
<br />connection wit11 the loan evidenced by the Contract. IF this Security Instrument is on a leasehold, Borrower shall
<br />comply with all the provisions of the lease. lf Borrower acquires fee title to the Praperty, the leasehold and the fee
<br />title shall not merge unless Lender agrees to the merger in writing.
<br />Protection of Lender's Ri�lits in the Praperty. IF Borrower fails to perform the covenants and agreements
<br />contained in this Security lnstrument, or fhere is a legal proceeding tltat may signiticantly at�ect Lender's rights in
<br />the Property (such as a proceedin�; in bankruptcy, probate, £or condernnation or forfeiture or Co enforce laws or
<br />regulations), dien Lender may do and pay for whatever is necessary ta protect the value of the Property and
<br />Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has prioriCy
<br />over this Security lnstrument, appearing in court, paying reasonable attorneys' fees and entering on fhe Property to
<br />make repairs. Although Lender may take action under this section, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this section shall become additional debt of Borrower secured by this
<br />5ecurity -ix�st�-uFnent. Unless �3orrowcr and Leirder agree ta oCher terms of payment, these ainaunts shall bear
<br />interest from the date of disbursement at the same rate assessed on advances under tl�e Contract and shall be
<br />payable, with interest, upon notice from Lender to Borrower requesting payrnent.
<br />inspection. I.�ender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or priar to an inspection specifyin� reasonable cause for the inspection,
<br />Condemnation. The proceeds of any award ar claim for damages, direct or cansequential, 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 />Tn the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, wich 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 in�mediately before the tak.in� is equal to or greater than
<br />the amount of the sums secured by this Security lnsmzment immediately before the taking, unless Borrower and
<br />Lender otherwis� agrce in writing, the sums sccur�d by this Security Instrurnent shall be reduced by tlie amount of
<br />the proceeds multiplied by the following fraction: (a) the total amount of the sums secured imrnediately befora the
<br />taking, divided by (h) the fair market value of the Property imrnediately before the taking, Any balance shall be
<br />paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property
<br />irnmediately before th� takin� is less than the arnount of the sums secured immediately before the taking, unless
<br />�9 200A-20D9 Compliance 5ystcros, Inc. 002�-67E8 - 2009.123ti8 �
<br />Cunyum�' Rcxl Estate - Security Invtrumrnt DL2036 Page 2 of 5 www.cnmplipnce�y&tema.[om
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