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<br />201008284
<br />Unless Lender and Borrower otherwise agree in writing, any app1ication of proceeds to principal shall not extend
<br />or postpone the due date of the payments referred to in the sections titled Payment of Principal and Interest;
<br />[.ate Charges and Funds far Taxes and Insurance or change the amount of the payments. If under the sectior�
<br />titled Acceleration; Remedies, the Property is acquired by Lender, Borrower's right to any insurance palicies and
<br />proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to fhe extent of the
<br />sums secured by this Security Instrument immediately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit �vaste on
<br />the Property. Borrower shall be in default if any forfeiture accion or proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could result in forteiture of the Property or otherwise materially impair Che
<br />lien created by this Security Instruznent or I.ender's security interest. Borrower may cure such a default az�d
<br />reinstaCe, as pravided in section titled Sorrower's Right to Reinstate, by causing the action pr proceeding to be
<br />dismissed with a ruling that, in Lender's good faiCh detenttination, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impairment of the lien created by this 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 to provide Lender with any material information) in
<br />com�ection with the loan evidenced by the Note. If this Security Instrument is on a leasel�old, �3orrower shall
<br />comply wich all the provisions of the lease. If Borrower acquires fee title to the Froperty, the leasehold and Che fee
<br />title shall not merge unless Lender agrees to the rrterger izi writing.
<br />Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
<br />contained in this Security lnstrument, or there is a legal proceeding that may signiricantly aftect Lender's riglits in
<br />the Property (such as a proceeding in bankruptcy, prpbate, fot condemnatiar� or forFeiture or ta enforce laws or
<br />regulations), then Lender may do and pay For whatever is necessary to prot�ct 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 priority
<br />over this Security Instrumen[, appearing in court, paying reasonable attnrneys' fees arid entering on the Property to
<br />make repairs, Although Lender may take action under this section, Lender does not have to do so.
<br />Any amc�unts disbursed by Lender under this section shall become additional debt of I3orrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to ocher terms of payment, these amounts shall bear
<br />interest from the date of disbursament at the Note rate and shall be payable, with interest, u�on notice from Lender
<br />to Borrower requesting payment.
<br />Mortgage Insurance. if l.ender required mortgage i��surance as a condition of znaking t}ae loan secured by tl�is
<br />Security Instrucnent, Borrower s1�a11 pay t1ae premiums reQuired to maintain the mortga�e insurance in effect. If, for
<br />any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, �3orrower shall
<br />pay the premiums required to obtain covera�e substantially equivalent to the martgage insurance previously in
<br />effect, at a cost substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect,
<br />from an alternate mortga�e insurer approved by Lender. If substantially equivalent mortgage insurance coverage is
<br />not available, Borrower shall pay to Lender each month a sum equal to one-twelfth c�f the yearly mort�age
<br />insurance prezzaium being paid by Borrower when the insurance coverage lapsed or.ceased to be in effect. Lender
<br />will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserv� payments
<br />may no longer be required, at tNe option of Lender, if mortgage insurance coverage (in the amount and for tlxe
<br />period that Lender reyuires) provided by an insurer approved by Lender again beaomes ava'ilable and is obtained.
<br />Borrower shall pay the pcetnivarx�s required to maintain mprtgage insurance in effect or to provide a loss reserve,
<br />until the requirement for �nortgage insurance ends in accordance with any written agreement between Bvrrnw�r
<br />and I.,ender vr Applicahle Law.
<br />Inspection. Le�ader or its agent may make reasqnable entries upon and inspectipns o£ th� Property. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for tl�e inspection.
<br />Condemnation. The proceeds of any award or claim for damages, direct or conseguential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condeznnativn, are .hereby
<br />assigned and shall be paid to L,ender. .
<br />ln the event of a total taking of the Property, the proceeds shall be applied to the sums secured hy tl�is Security
<br />Instrument, whether or not then due, with any excess paid to Bortower. In the event of a partial taking of the
<br />Property in which the fair t�iarket valuc of the Property immediately before the taking is equal to or greater than
<br />the amount of the Sums secured by this Security Instrument immediately before the taking, unless Borrower .and
<br />Lender ntherwise agree in writing, the sums secured by this Security InstrumenC shall be reduced by the amount of
<br />the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />taking, divided by (b) the fair market value of the Property immediately }aefore the taking. Any balance shall be
<br />paid to Bonrower, In the event of a partial takin� o£ the Property in which the fair market yalue of the Praperty
<br />immediately before the takittg is less than the amount of the sums secured inunediately before t�ie. taking, unless
<br />Borrower and l,ender otherwise agree ii� writin� ar unless Applicable Law otherwise provides, the praceeds shall
<br />be applied ta the sums secured by this Security Instrument whether or not the sums are then due.
<br />lf tlie Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condenuior offers ta
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within the tninimum nur�iber of
<br />days established by Applicable Law after the date the notice is given, Lender is authorized.to collect and apply the
<br />proceeds, at its option, either to restoration pr repair of the Property ar to the sums secured by this Security
<br />Instrument, whether or not then due.
<br />� 2004-2009 CompGnnce Systems, Inc. 002D-4E50 - 2009.I2.368 . . . . " • �
<br />Consumcr Rcal Rgtule - Security Instrumcnt DL2036 Pnge 3 of 6 www.compliancesystems.com
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