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<br />�orrower a notice identifying tlie lien. Borrower shall satisfy the lien or take one ar more vf the actions set forth
<br />above within 10 days of the givin� of notice.
<br />��azard or Property insurance. Borrower shall keep the improvements now existing or hereafter erected an the
<br />Property insured against loss by fire, hazards included within the term "extended caverage" and any other hazards,
<br />including f7oods or flooding, for which I�ender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods diat Lender requires. The insurance carrier praviding the insurance shall be chosen by
<br />Borrower subject ta Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain
<br />cover�ge described above, Lender may, at I.ender's option, obtain coverage to protect Lender's rights in the
<br />Prbperty in accordance with sectinn titled Protection of Lender's Rights in the Property.
<br />All insurance policies and renewals shall be acceptable to Lender and sha11 include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. IE Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prampt notice
<br />ta the insurance carrier and Lender. Lender rnay make proof of loss if not made promptly by Borrower.
<br />Unless Lender and �3orrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not
<br />lessened. If the restoration ar repair is not economically feasible ar Lender's security would be lessened, the
<br />insurance praceeds sha11 be applied to the surns secured by this Security Instniment, whether or not then due, with
<br />any excess paid to Borrower. If Borrower abandons the Property, ar does nat answer within the number of days
<br />prescribed by Applicable I,aw as set forth in a nc�tice from Lender to Borrower that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or
<br />restore the Property or to pay sums secured by this Security Instrument, whetl�er or not then due. The period of
<br />time for Borrower 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 application of proceeds to principal shall not extend
<br />or postpone the due date of the payments due under the Cantract or cl�ange the amount of the payments. If under
<br />the section titled Acceleration; Remedies, the Property is acquired by Lender, Borrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acquisition sha11 pass to I,ender to the
<br />extent of the sums secured by this Security Instrument irnmediately prior to the acquisition.
<br />Preservation, Maintenance and Yrotection of the Property; Borrnwer's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage ar impair the Property, allow the Property to deteriorate, ar commit waste an
<br />the Froperty. Borrower sl�all be in default if any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could result in forfeiture of tlae Property or otherwise materially impair the
<br />lien created by this Security Tnstrurnent or Lender's security interest. Borrower rnay cure such a default and
<br />reinstate, as provided in section ticled Borrnwer's Right to Reinstate, by causing the action ar proceeding to be
<br />dismissed with a ruling that, in Lender's good faith determination, pr�cludes forfeiture of the Borrower's interest in
<br />the Property or other material impairment of the lien created by tlus Security Instrument or Lender's security
<br />interest. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or
<br />inaccurate information or statements to Lender (or failed ta provide Lender with any material infor�nation) in
<br />connection with the loan evidenced by the Contract. If this Security Ir►strument is on a leasehold, Borrower shall
<br />comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehald and the fee
<br />title shall not merge unless Lender agrees to the merger in wa
<br />Protection of Lender's Rights in the Property. if Borrower fails to perfarm the covenants and agreements
<br />contained in this Security Instrument, ar there is a legal prpceeding that may significantly affect Lender's rights in
<br />the Property (such as a proceeding in bankruptcy, probate, for candemnation or forfeiture or to enforce laws or
<br />regulations), then LeiYder may do and pay for whatever is necessary to protect the value of the Property and
<br />Lender's rights in tl�e Property. Lender's actions rnay include paying any sums secured by a lien which has priority
<br />over this Security Instrument, appearing in court, paying reasonable attorneys' fees and enterin� on the Property to
<br />inake repairs. Although Lender may take action under this section, Lender does not have to do so.
<br />Any amounts disbursed by I.ender under this section shall become additional debt of Borrower secured by this
<br />Security instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
<br />interest from the date of disbursemenc 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 payment.
<br />Inspection. I.�ender or its agenc may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for Che inspection.
<br />CondemnaYron. The proceeds of any award or claiin 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 />ln the event af a total taking of tlie Property, the proceeds shall be applied to the sums secuced by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the evenC of a partial taking of the
<br />Property in which the fair market value of the Property immediately before the taking is equa1 to or greater than
<br />the amount of tl�e sums 5ecured by this Security lnstrument immediately be£ore the talring, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of
<br />tl�e praceed5 multiplied by the following fraction: (a) the total ainount af the sums secured immediately before the
<br />taking; divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower. In the event of a partial takin� of the Property in which the fair market value of the Property
<br />immediately before the taking is less than the amount of the sums secured immediately beFore the taking, unless
<br />� 2004-2009 Compliance Systems, Inc. 002U-D40E - 2009.12368 �
<br />Consumcr Rcal Estatc - Sccurity Instrumcnt DL2036 I'age 2 oF 5 www.compliancesystcros.com
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