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<br />Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or mare of the actions set forth
<br />above within 10 days of the giving of notice.
<br />Hazard or Property Insurance. 13orrower shall k�ep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within tha term "extended coverage" and any other hazards,
<br />including floods or flc�oding, for which Lender reguires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requiees. The insurance carrier providing the insurance shall be chosen by
<br />Borrnwer subject to Lender's approval which shall nat be unreasonably withheld. If Borrower fails to maintain
<br />coverage d�scribed above, Lender may, at Lender's option, abtain coverage to protect 1,ender's rights in the
<br />Property in accordanc� with section titled Protection oF Lender's Rights in the Property.
<br />All insurance policies and renewals sl�all be acceptable to Lender and sl�all include a standard rnortgage clause.
<br />l.�end�r shall have the ri�;ht to hold the policies and renewals. If Lender requires, Barrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice
<br />to the insurance carrier and I,ender. Lender may make proof of loss if not made promptly by Sorrower.
<br />Unless Lender and Borrower atherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Froperty damaged, if the restoration or repair is econornically feasible and Lender's security is not
<br />lessened. rf the restoration or repair is not economically £easible or Lender's security would be lessened, the
<br />insurance proceeds shall be applicd to the sums secured by this Security Instrument, whether or not then due, with
<br />any exceas paid to �orr.ower. If Borrower abandons the Froperty, or daes not answer within the number of days
<br />prescribed by Applicable Law as set forth in a notice 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, whether 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 po'stpone fhe due date of the payments due under the Contract or change the amount of the payments. If under
<br />the sectioi� titled Acceleration; Remedies, the Praperty is acquired by Lender, $orrower's right to any insurance
<br />policies and proceeds r�sultin� 1'rom damage to the Property prior to the acquisition shall pass to Lender to the
<br />extent af the sums secured by tliis Security Instrument imrnediately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Prnperty; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damag� or irnpair the Property, allow the Property to deteriorate, or commit waste on
<br />the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or crirninal, is begun
<br />that in I.,ender's good faith judgment cauld result in forfeiture of the Property or otherwise materially 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 section titled Borrower's itight to Reinstate, by causing the action or proceeding to be
<br />disrnissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impainnent of the lien created by this Security Instrument or Lender's security
<br />interest. Borrower shall also be in defaulC if Borrower, during the loan application process, gave materially false or
<br />inaccurate information or statements to I,ender (or failed to provide Lender with any material information) in
<br />conneGtion with che loan evidenced by the Contract. If this Security Instrurnent is on a leasehold, Borrower shall
<br />comply with all the provisions of the lease. If Borrower acquires fee title to the Property, che leasehold and the fee
<br />title shall not merge unless Lender agrees to the merger in writing.
<br />Pratection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
<br />contained in this Security Instrument, or there i5 a legal proceeding that may significantly affect Lender's rights in
<br />the Property (such as a proceeding in bankruptcy, probate, for condamnation ar forfeiture or to enforce laws or
<br />regulations), then Lender rnay do and pay for whatever is necessary to protect the value of the Property and
<br />Lender's rights in the Property. [.ender's actions may include paying any surns Secured by a lien which has priority
<br />over this Security Instrument, appearing i►i court, payin� reasonable attorneys' fees and entering on the Properiy to
<br />make repairs. Althougti Lender may take action under this se�tian; I�ender does notfiave to do sa.
<br />Any amounts disbursed by Lender under this section shall become additional debt of Borrower secured by this
<br />Security InStrument. Unless Borrower and Lender agre� to other terms of payment, these ainounts shall bear
<br />interest from the date of disbursement at the same rate assessed on advances under the Contract and shall be
<br />payable, with interesi, upon nc�tice from I,ender to Borrower requesting payment.
<br />inspeetian. Lender or its agent may make reasonable entries uport and inspections of the Proparty. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />Condemnation. The proceeds of any award or clairn for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part c�f the Property, or for conveyance in lieu of condemnation, are hereby
<br />assi�ned and shall be paid to I.ender.
<br />In the �:vent of a total taking of the Property, fhe proceeds shall be applied to the sums secured by this Security
<br />Intitrument, whether or not then due, with any excess paid to Borrower. Tn the event of a partial taking of the
<br />Property in which the fair market value of the Property immediately before the taking is equal Co or greater than
<br />the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and
<br />I,ender olherwise agree in writing, the surns secured by this Security Instrument shall be reduced by the amount of
<br />the proceeds multiplied by tlre following fraction: (a) the tota1 amount of the sums secured immediately before the
<br />takin�, divided by (b) t1i� fair market value of the Prnperty immediately before the taking. Any balanca shall be
<br />paid to Borrower. In,fhe event of a partial taking cyf 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
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<br />Consutner Rcul Estatc - Secw�ity Instrument 1]I.2036 Pngn 2 of 5 www.compGa�icesyslems,eom
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