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<br />Borrower a notice identifying the lien. Harrower shall satisfy the lien ar take one or more of the actions set fot�tli
<br />above wifhin 10 days of the giving of notice.
<br />Hazard or Property Insurance. Borrower shall keep the improvemenCs now existing or hereafter erected on the
<br />Properfy insured a�ainst loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br />including floods or tlooding, for whicli �ender requires insurance. This insurance shall be maintained in the
<br />amaunts and'for the periods tliat Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borrowe'r subject to Lender's' approval which shall not be unreasonab1y withheld. If Borrower fails to maintain
<br />coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
<br />Property in �ccordance. with section titled Protection of Lender's Rights in the Property.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />l..ender shall the right to liold the policies and renewals. If Lender requires, Borrower sha11 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 C�ender. C�ender may make proof of loss if not made prornptly 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 resto�ation or repair is not economically feasible or I�ender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Borrower: If Borrower abandons the Property, or does not answer within the number of days
<br />prescribed by Applicable Law as set forth in a notice frorn Lender to Borrower that the insurance carrier has
<br />offered to settle a claim, theri.Lender may eollect the in�urance praceeds. L�nder rnay use the proceeds to repair or
<br />resCore the Properiy c>r to pay sums secured by this Security Instrument, whether or not then due. The period of
<br />time for Horrower to answer as set forth in the notice will begin when the notice is given.
<br />Unless Lender and Borrower otherwise a�ree in wricing, any applicatian of proceeds to principal shall not extend
<br />or postpone the due date of the payments due under tlie Contract or change the amount of the payrnents. Tf undar
<br />the sectiori titled Acceleration; Remedies, the Property is acquired by l,ender, Borrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender ta the
<br />extent of the sums secured by this Security Instrum�nt inunediately prior to fhe acquisition.
<br />Preservation, Maintenance and Pratection of the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Prnperty to deteriorate, or commit waste an
<br />the Property. Borrower shall he in default if' any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in l.ender's good faith judgment could result in forfeiture of the I'roperCy or otherwisa materia1ly impair the
<br />lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and
<br />renistate, a5 provided in section. titled Borrower's Right to R�instate, 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 impairment of the lien created by this Security Instrument or Lender's security
<br />interest. �3c�rrower shall a1so be in default if Borrower, during the loan application process, gave materially False or
<br />inaccuraie. information or statements to Lender (or failed to provide Lender with any material information) in
<br />connection with the loan evidenced by fhe Contract. If this Security Instrument is on a leasehold, 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 writin�.
<br />Protection of Lender's Rights in the Property. If Borrower fails to perform th� covenants and agreements
<br />contained in this Security Instrument, or there is a legal proceeding that may significantly affect T.ender's rights in
<br />the Property (such a5 a proceeding in bankruptcy, probate, for condemnation or forfeiiure or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and
<br />Lender's rights in the Property. i�ender's actions may include paying any sums secured by a lien which has priority
<br />over this Security lnstrument, appearing in court, paying reasonable attorneys' fees and entering on the Properiy to
<br />make repairs. Although Lender may take action under this secCion, L,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 Instruuient. Unless Borrower and Lender a�ree to other terms of payment, these amounts shall bear
<br />interest from the date of disbursement at the same rate asse5sed on advances under the Contract and shall be
<br />payable, with interest, upon nc�tice from Lender to Borrower requesting payment.
<br />Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior Co an inspection specifying reasonable cause for the inspection.
<br />Condemnation. The proceeds af any award or claim for damages, direct or consequential, in cc7nnection with any
<br />condemnatic�n or other 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 />In the event of a total taking of the Property, the proceeds shall be applied to che sums secured by this Security
<br />Instrument, 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 to or greater than
<br />the amount of the sums secured by this Security Instrume►tt irnrnediately before the taking, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Cnstrument 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 £air market value of the Property immediately before the taking. Any balance shall be
<br />paid to $orrower. In the event of a partial taking of the Property in which the f'air market value of the Property
<br />immediately before the taking is less than the amnunt of the sums secured immediately before the taking, unless
<br />�u 21)04-2009 Compliance Systcros, lnc. 002D-B9FA - 2009.12.368
<br />Cansumcr Rca] Estatc - Sccurity Instrument PI.2O16 Pagc 2 af 5 www.compliancesygteme.cnm
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