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20100848G
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<br />proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the
<br />surns secured by this Security Instrurnent immediately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Property; Sorrower's Laan Applicatian; Leaseholds.
<br />Borrawer shall not destroy, damage ar impair the Properiy, allow tk�e Property to deteriorate, or commit waste on
<br />the Property. Borrower shall be in default if any forfeiture aation or proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could result in forfeiture o£ the Property or otherwise materially impair the
<br />lien created by this Security Instrurnent or L.ender's security interest. Borrower may cure such a default and
<br />reinstate, as provided in section titled Borrower's Right to Reinstate, by causing the action or proceeding to be
<br />dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impairment of thc lien created by this Security InsUument or Lender's security
<br />interest. Borrower shall also be in default if Borrower, during the loan applicatian process, gave materially false or
<br />inaccurate information or statements to Lender (or failed to provide Lender with any mat�rial information) in
<br />connection with the loan evidenced by the Note. If this Security Instrumant is on a leasehald, Borrower shall
<br />comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee
<br />title shall not merge unless Lender agrees to the merger in writing.
<br />Protection of Lender's Rights in the Property. If Borrower fails to 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 proceeding in basila'uptcy, probate, for condemnation or forfciture or to enforce laws or
<br />regulations), then I.ender may do and pay for whatever is necessary to protect 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 Instnunent, appearing in court, paying reasonable attorneys' fees and entering on the Froperiy to
<br />make repairs. Although Lender may take action under this section, I,ender does not have to do so.
<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 agree to other terms of payment, these amounts shall bear
<br />interest fram the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender
<br />to Borrower requesting payment.
<br />Mortgage Insuranee. If Lender requixed mortgage insurance as a condition of making the loan secured by this
<br />Security Instrument, Borrower shall pay the premiurns required to maintain the mortgage insurance in effect. If, for
<br />any reason, the rnortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall
<br />pay the premiums required to obtain coverage aubstantially equivalent to the mortgage insurance previously in
<br />effect, at a cost substawtially equivalent to the cost to Borrower of the mortgage insurance previously in effect,
<br />from an alternate mortgage insurer approved by I,ender. If substantially equivalent mortgage insurance coverage is
<br />not available, Borrower shall pay to L.ender each month a sum equal to one-twelfth of the yearly mortgage
<br />insurance premiurn being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. Lender
<br />will accept, use and retain these payrnents as a loss reserve in lieu of mortgage insurance. I,oss reserve payments
<br />may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the
<br />period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained.
<br />Borrower shall pay the premiums required to rnaintain mortgage insurance in effect, or to provide a loss reserve,
<br />until the requirement for mortgage insurance ends in accordance with any written agreement between Borrawer
<br />and Lender or Applicable Law.
<br />Inspecdon. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at th� time of or prior to an inspection specifying reasonable cause for the inspection.
<br />Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnatian or other taking af any part of the Property, or far 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, the proceeda shell be appliad to the surt�s secured by this 5ecurity
<br />Instrurnent, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the
<br />Property in which the fair rnarket value of the Property immediately before the talting is equal to or greater than
<br />the amount of the surns secured by this Security Instrument imrnediately before the taking, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instnunent shall be reduced by the amount of
<br />the praceeds rnultiplied by the following fraction: (a) the total amount of the sums secured 'unmediately 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 taking of the Property in which the fair market value of the Property
<br />unmediately before the talcing is less than the amount of the sums secured immediately before the taking, unless
<br />Sarrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall
<br />be applied to the sums secured by this Security Instrument whethcr or not the sums are then due.
<br />If the Properiy is abandoned by Borrower, or if, after notice by Lender to Borrower that the condamnor offers to
<br />make an award or settle a claim for darnages, Borrower fails to respand to Lender within the rninimum nu►nber of
<br />days established by Applicable I.aw after the date the notice is given, Lender is authorized to collect and apply the
<br />proceeds, at its opdon, either to restoration or repair of the Property or to the sums secured by this Security
<br />Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpane the due date of the payments Payment of Principal and Interest; Late Charges and Funds for
<br />Taxes and Insurance or char►ge the arnount of such payments.
<br />Q5 2004-2009 Compliance Systema, Inc, 002D-46E1 - 2009, t2368
<br />Conaumer Real Esta[e - Sawiry Insuummt DL2036 Page 3 of 4 www.eomplianceaystems.com
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