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<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
<br />ar postpone the due date of the payments referred to in the sections titled Payment of Principal and Interest;
<br />Late Charges and Funds for Taxes and Insarance or change the amount of the payments. If under the section
<br />titled Acceleration; Remedies, the Property is acquired by Lender, B6arrower's right to any insurance policies and
<br />proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the
<br />sums secured by this Security Instrument irnmediately prior to the acquisiUon.
<br />Preservat�on, Maintenance and Protection of the Property; Burrower's Loan Applicadon; Leaseholds.
<br />Borrower shall not destroy, damage or impair 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 criminal, is begun
<br />that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the
<br />lien created by this Security Instxument or Lender'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 I,ender's goad faith determination, 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, dw7ng 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 />connection with the laan evidenced by the Note. If this Security Instrument is on a leasehold, Borrower shall
<br />camply with all the provisions of the lease. If Borrower acquires fee tatla to the Property, the leasehold and the fee
<br />title shall not merge unless Lender agrees to the merger in writing.
<br />Proteetion of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
<br />cantained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in
<br />the Properiy (such as a proceeding in bankruptcy, probate, for candemnation or forfeiture or to enforce laws or
<br />regulations), then Lender rnay do and pay for whatever is necessary ta 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 Instrument, appearing in caurt, paying reasonable attarneys' fces and entering on the Properiy to
<br />make 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 Instivment. Unless Borrower and Lender agree to other terms of payrnent, these amounts shall bear
<br />interest from the date of disbursement at the Note rate and sha11 be payable, with interest, upon notice from Lender
<br />to Borrower requesting payment.
<br />Mortgage Insuranee. If Lender required mortgage insurance as a condition of making the loan secured by this
<br />Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for
<br />any reason, the mortgage insurance coverage required by Lender lapses ar ceases to be in effect, Bonower shall
<br />pay the premiurns required to obtain coverage substantially equivalent to the mortgage 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 altemate 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 premium 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 reserve payments
<br />may no longer be reQuired, at the optian 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 becornes available and is obtained.
<br />Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve,
<br />until the requirement for mortgaga insurance ends in accordance with any written agreernent between Borrower
<br />and Lender or Applicable Law.
<br />Inspection, �.ender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower natice at the wne of or prior ta an inspection specifying reasonable cause for the inspection.
<br />Condemnation, The proceeds of any award or claim for damages, direct ar consequential, in connection with any
<br />condemnation or other taking of atxy part of the Property, or for 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 proceeds shall be applied to the sums secured by this Security
<br />Instrument, whethcr or not then due, with any excess paid to Sorrower. In 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 to or greater than
<br />the amount of the sums secured by this Security Instrument immediately before the taking unless Borrower and
<br />Lender othcrwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of
<br />the proceeds multiplied by the following fraction: (a) the total amount af the sums secured immediately before the
<br />taking, divided by (b) the fair market value of the Property itnmediately before the taking. Any balance shall be
<br />paid to Sorrower. In the event of a partial taking of the Properiy in which the fair market value af the Property
<br />immediately before the taking is less than the amount of the sums secured immediately before the taking, unless
<br />Borrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the praceeds shall
<br />be applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br />If the Properiy is abandoned by Horrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Sorrower fails to respond to Lender vvithin the minimum number of
<br />days established by Applicable J,aw after the date the notice is given, Lender is authorized to collect and apply the
<br />proceeds, at its option, either to restoration or repair of the Property or tn the sums secured by this Security
<br />Tnstrument, whether or not then due.
<br />� 20D4-2009 Complience Systcros, Inc. 002R27B6 - 2009.12.368
<br />Consumer Resl Eetate- Sxurity Instnunent bL2038 Page 3 of6 www.compliancesyatems.com
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