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<br />�3orrower a notice identifying the lien. Borrower shall satisfy the lien or take one nr more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the terrn "extended coverage" and any other hazards,
<br />including floods or iYooding, for which Lender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrawer fails to maintain
<br />covera�e described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
<br />Property in accordance with section titled Profeetion of I,ender's Rights in the Froperty.
<br />A11 insuranc� policies and renewals shall be acceptable to Lender and shall include a standard martgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrnwer shall give prompt notice
<br />to the insurance carrier and Lender. Lender may make proof of Inss if not made promptly by Borrower.
<br />Unless Lender and Borrower 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 r�storation ar repair is not economically feasible or Lender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by this 5ecurity Instrument, whether or not then due, with
<br />any excess paid to Borrower. If Borrower abandons the Properiy, or does 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 />oftered to settle a claim, then Lender may collect the insurance procaeds. Lender may use the proceeds to repair or
<br />restore the Property or to pay sums secured by this Security Instrument, whether ar 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 Che Contract ar change the amount of the payments. Tf under
<br />the section titled Acceleration; Remedies, tlie Prnperty is acquired by Lender, Borrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acguisition shall pass to Lender to the
<br />extent of the sums �ecured by this Sccurity 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 detcriorate, or commit waste on
<br />the f'roperty. Borr,awer shall be in default if any forfeiture action ar proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could result in farfeiture of the Property or otherwise materia11y impair the
<br />lien created by this Security Instrument or I.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 actipn or proceeding to be
<br />dismissed with a ruling that, in Lender's gaod faith determination, precludes forfeiture of the Borrower's interest in
<br />the �'roperty or olher material impairment of the lien created by this Sacurity Instrument or Lender's security
<br />interest. Sorrower shall a15o 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 />cnnnection with the loan evidenced by the Cantract. If this Security Instrument is on a leasehold, IIorrower 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. lf Borrower fails to perform the covenants ar►d agreements
<br />contained in this Security Instrument, or there is a legal proceeding that may significanCly affect Lender's rights in
<br />the �'roperty (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Properry and
<br />Lender's rights in the Property. Lender's actions may include paying any sums securec� by a lien which has priority
<br />over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to
<br />make repairs. Although I�ender may take action under this section, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this section sha11 becorne additional debt of Borrower secured by this
<br />Security instrument. Unless Borrower and I.ender agree to other terms of payment, these amaunts shall bear
<br />interest from the date of di5bursement at the same rate assessed on advances under the Contract and shall be
<br />payable, with interest, upon r�otice from L,ender to Borrower requesting payment.
<br />Inspection. Lender or its agent may make reasonable entries upon and inspections of the Ptoperty. Lender shall
<br />give Borrower notice at the tim� of or prior to an inspection specifyin� reasanable cause for the inspection.
<br />Condemnation. The proceeds of any award or claim for damages, direct ar consequential, in connecCion with any
<br />condemnation or nther 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 />Tn the event of a tntal takin� of the ProperCy, the proceeds shall be applied to the sums secured by this Sscurity
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial takin� of the
<br />Property in which the fair market value of the Property imxnediately before the taking is equal to or greater than
<br />the amount of the sums secured by this Security InstrurnenC immediately before the taking, unless �3orrower and
<br />Lender otherwise agree in writing, the sums secured by this Security ]nstrument shall be reduced by the amounc of
<br />the proceeds multiplied by fhe following fraction: (a) the total amount of the sums secured immediately before the
<br />taking, divided by (b) the fair market value nf 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 markat value of the Property
<br />immediately before the taking is less than the amount oF the sums secured immediately before the taking, unless
<br />�� :U04-20U7 Complinnee Syste�ns, Inc. 002p-AL'S9 - 2U09,12.3fi6
<br />Consumer Real Estate - Security Instrument ll1.2036 Pugc 2 of 5 www.trnnpliancesys[c'�ns.com
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