201008178 - Laserfiche WebLink

Browse

201008178 seawity is not less�ad. If iha res�aratbn or r+�ir is nat ecvnomicaNy feasihle or Lender's s�rity rwonuld ba (essened� the insure�noe prooeeds sheN be a fed first �o the reduction of any indebtedness und�r a Seaynd Note and 5eoand �rihr I�ment held by th� Sea�eiary on the Property and thgn to �'►e redudian of itte i gdne�s under the Note and this Security InstrumeM. Any exoass insur�ance proceeds aver an amvunt required to aN outstandfng irtdebtedness under tt►e Note ar�d ihis Security Instn.unent shall be paid ta ihe er� IegadY entided tt�reto. In the event af Torecip�ure af this Ir�stnxnerrt ar ott� hanst�r of iitle tv the Property that e�inguishes the ind�btednes�. aN ht, tide and interest af 8arrower in and ta insurarxr� palic�s in force shau pa� b the pur�aser. 4. Occupancy, Pr+ssenratlan� Matr�nancs and Prob�ctfan of the ; Borrowers 4oan Application; Lassshalds. Bortow�er sheN oaxip�biish, arxi use the peHy as Bart+aww�r's prindp�l residence after the �xecuti�n of this tr�nxnent, and Borrv�wer pr et lesst one Borrower, i� ini4a�y more ttten orna persoi n erm of t�he Sed r�'tty �Ir stru�m�errt�. Pn' �1 resid Bomawers principal r+os�dence far the have the same meaning as fn ihe l_oan A�resment. Bor�w�er st�N nat commit waste or desfroy, damage or sub�tantlally char�e the P er or atbw the Property to deteriQrate, r+e�sanable we�r and tear exoepted. BorroMrer straq also in defeult if Borrower� du rn'�g ihe loan a tion prncess, g�ve materieNy false _ ar inacxurete inivrmetian or statements �a Lender (ar �ta provide Lender with ar►y rr�terial nformati�n� in co�ng B�or�w��r's� of�#� Prrope'ttyr�as a�'pnncip�j t I re de�nce.�� If�S t uri�ity Instrume� is on a le�seh�ld, E3amawer sh�b o�mply with the pravkiQr�s of #he le�se. if Borrow�r acquir� fee Mle ba tt►e Propertar. the leasehold and fee fiitle sfraN nat bg merged uNess Lerider agraes ta tt�e merper in writing- �. Charpas to Barrovwer and Prab�tion of Lond�rs Riph�s in the Proprrty. 8onower sha11 Z. y �Hornnwer s�� a bli�atb �o � tim d�ly �a �� wh'��ch � awed the p y �If� 1�ilure fio pey wauld �dversely affect L.eride�'s iMer�t in the�roperly. upon Lender's request F 3 arrower s h a 8 promp t i y f umPs h io � e n der re�eipts e v i d e n d r r� tt�ese p�ym�s. 8 arnawer s i� l l prvmptly d�rge any lien which has pnnrity over this 5ecurity {r�strument in the marx�er prov�ded in P�raph 12{c). if Bort�nw�er t�iis !a make these paymerrts or the properly ct�arges requ�+ad by Par�graph 2, nr f�ils ta airy other cavenaMs andag reemerrts cor�med fi this Seauily Ir�strtnment. ar there is a�P�eedk� ihat trwy signiticar�tfy affect Leitd�s rights in the Properly�such as a proc�eeding in benlwPt�l+, for oondernnation or t,a enfor�ce laws or regulations)� th� L er may da and pay whatever is neoessary �o protect the value of the Prop�y and l.ende�s rghts in the Proparty induding �ent of �xes, hazard ir�suanc� and ather i�ems m�ned in Par�raph 2. to p�ot s security +n the Pr�perty, Lender shall advat►ce and diarqe to Sormwer aN amounts due fio the Sea�ry far the Nb� a Insuranoe Premium as d�ed in the Loen l�reemant as weq as all sums due to 1he ben �eiv�Oer Tar servidng a�ri� as defined in the L.o�n reemeM. Any amourrts disburs�cl kry t�nder under this Paragraph shaN beaome an addidonal debt Borrower es provided Tnr in the Laan A�r�aament and shaii be secur+ed �y this Securily Instrument. B. Insprrctlon. L.snder ar its a�t may enter on� ir�spect or make appraisal� af ifie Properly in a r+aasonphle manner and �t reesonable times provided that �ender shaN gnre U�e Bornnwer notioe prior t� � �epec1ion ar apprsis�l specifying a purpose tor the irispedion or appraisal which must be related� Lerider's interest in the Prppe�iy. If the property ie vacant or al�endoned or the ben ls in default, Lender may take r�sa�able aclbn �a prtited and preserve such vacerrt or eb�ndoned Property witFtout notk:e � ihe Bannwer. 7. Condamn�dvn.The ptooeeds of any award or daim �vr dam� , dired or a�nsequerrtial, in conrtectinn wilh any oandemnation or ofher �king o+f eny pert df the Pnperly. a for corrveyance in plac� of candemhalian shall be paid �o Lender. The p� r n o a e d s shall 6e app�i iirst � the re a u c t+ a n o f any i n a e b t e ane�s u n d e r � s e o o r � d P bte a n a s e a u i c y � n s b u m e n t r � e l d by t t► e Secret�ry an th� Prope�ty, and then ta the reduction af 1hg indebtedne�s under �e Note ar�d this ; �Sec e u�ri� r��y �xceas prooeads over an amaint required to pey aN autsiarxiir� IVote and tt�s Sea�rlty Ir�burnerrt sh�N 6e peid �o th� errtity leg�lly enf�ded ther�eto. �. FNS. Lender may oaaed feee and d�aroes au�ori¢��ecl by the Secrel�ry. F�t Mnn�ban l.ain Ptod�ilon 8ervkres Neaarka MI�t SacuKly InshumeM � 2D06 Firat Air�erican R�aal Es1� �aN�a� LLC FALPS i� tJBQ�2 : 06�108 � 3 r� �eeorNe cc� 5�.