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<br />Unless J.,ender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of the paymetxts referred to in the sections titled Payment of Principal and Interest;
<br />Late Charges and Funds for Taxes and Insurance or change the amount of the payznents. lf under the section
<br />titled Accelerattnn; Remedies, the Property is acquired by Lender, Borr��wer's right to any insurance policies and
<br />proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the
<br />sums secured by this Security Inskrument immediately prior to the acquisition.
<br />Preservation, Maintenance and �rotection of the Property; Borrnwer's l.oa�i Application; Leaseholds.
<br />Barrower sl�all not destroy, damage or impair the Property, allow the Property to deteriorate, or corrunit waste c�n
<br />the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or crimizial, is begun
<br />that in Lender's good faith judgment could result in forfeiture of the Property or ��therwise materially impair the
<br />lien created by this Security lnstrument or Lend�r's security interest. Borrower may cure sucl� a default and
<br />reinstate, as provided in section titled Borrower's Right to Reinstate, by causing the action or proceedin� to be
<br />dismissed with a ruling that, in Lender's good faith determination, precludeti forfeiture of the Borrower's interest in
<br />the Property or other xnaterial impairment of the lien created by this Security Instrument or Lender's security
<br />interest. �3orrower shall also be in default if .E3orrower, during the toan applicatioz� process, gave materially f'alse or
<br />inaccurate information pr statements to Lender (or failed to provide Lender with any material inforination) in
<br />connectian with tlie loan evidenced by the Note. If this Security Instrument is on a lease}�old, �3orrower shall
<br />comply with all the prnvisions of the lease. If Borrower acquires fee title to the Property, the leasehold and tk�e fee
<br />title shall not merge unless Lender agrees to the merger in_vvriting.
<br />Protection oT Lender's Rights in the Prqperty. If Borrower fails ta 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 />the Property (such as a prpceeding in bankniptcy, probate, fpr cc�ndemnation or forfeiture or to enforce laws or
<br />regulations), tl�en Lender may do and pay for whatever is necessary to protect the value of che Prcyperty and
<br />Lender'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' fees and entering on the Property lo
<br />���ake repairs. Although Lender may take actiox� under this section, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this section skaall become additional debt of Borrower secur�d hy this
<br />5ecurity Instrument. Unless Borrower and Lender agree to other ternas of paynn.ent, these amounts shall bear
<br />interest from the date of disbursement at the Note rate and shall be payable, with interest, upon nolice fr�m Lender
<br />to Borrower requeslin� payment.
<br />Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this
<br />Security lnstrutnent, Borrower shall pay the premiums required to inaintain the mortgage insurance in effecl. If, for
<br />any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, BorrawEr shall
<br />pay the premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in
<br />effect, at a cost substanCially equivalent to the cost to Borrower of the mortgage insurance previously in effect,
<br />from an alternate mortgage insurer approved by Lender. If subsCantially equivalent mortga�e insurance coverage is
<br />not available, Borrower shall pay to Lender eacl� month a sum equal to one-twelfth of the yearly mortgage
<br />insurance premiu�i� being paid by Borrower when the insurance coverage lapsed or ceased to be in ef#'ect. i,ender
<br />will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve paymettts
<br />may no longer be required, at the option of Lender, if �nortgage insurance coverage (in the amount and for Che
<br />period that I�ender requires) provided by an insurer approved by Lender again becomes available and is obtained.
<br />Borrower shall pay the premiurn:: required to maintain mortgage insurance in effect, or to provide a loss reserve,
<br />until the requirement for mortgage insurance ends in accocdance with any written agreemiec�t between Borrower
<br />and Lender or Applicable Law.
<br />Inspection. Lender or its agent may make reasonable entxies upon and inspectiozts of the Property. Lender shall
<br />give Borrower noCice at the time of or prior to an inspectir�n specifying reasonable cause for the inspection.
<br />Condemnation. The proceedg of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Froperty, 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, tl�e proceeds staall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In tt�e event of a partial taking of the
<br />Prpperty in which the f'air 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 Instrument iixunediately before the taking, unless Borrower and
<br />I.,ender otlierwise agree in writing, t}ae sums secured by this Security Instrument shall be reduced by the amount of
<br />the proceeds multiplied by the following fraction: (a) the total aznount of the sums secured imTn�diately befc�re the
<br />taking, divided by (b) the Fair mark�t value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower. In die event of a partial taking of the Property in which the fair rnarket value of the Property
<br />ittunediately before the taking is less Chan the amount of the sums secured izzamediately before the taking, unless
<br />Borrower and Lender otherwise agree in writittg ot unless Applicable Law otherwise provides, the proceeds shall
<br />be applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br />If tl�e Property is abandoned by Borrower, or if, after notice by Leiider to Borrower that the condemnor offers to
<br />make an award or settle a c12�ixn for damages, Borrower fails to respond to Lender witl�ia� the minimum number of
<br />days established by Applicable Law after the date the notice is givei�, I.,ender is authorized to collect and apply the
<br />proceeds, at its option, either to restoration pr repair pf the Property or to the sums secured by this 5ecurity
<br />Instrument, whether or not then due.
<br />l7 200A-2009 CompliHncc Systnns, Inc. 002P-8CA9 - 2UU9.12.3fi8 .
<br />Consumv Rcal Estate - Sccurity Instrumenl n1.2U36 Page 3 of 6 www.compliancesystcros.com
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