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<br />agreement satisfactory to Lender subordinating the lien to this Security Insttument. If Lender determines that any
<br />part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />Barrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />H�zard 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 term extended coverage and any other hazards,
<br />including floods or flooding, fnr which Lender r�quires insurance. This insurance shall be maintained in the
<br />ainounts and for the periods that I,ender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject fo Lender's approval which shall not be unreasonably withheld. If Borrawer fails to maintain
<br />coverage described abave, Lender rnay, at Lender's aption, obtain coverage to protect �.ender's rights in the
<br />Property in accordance with section titled Prateetion of Lender's Rights In the Property.
<br />All insurance policies and rer►ewals shall be acceptable to I,ender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lend�r 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 Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds sha11 be applied ta restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and Iaender's security is not
<br />lessen�d. If the restozation or 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 Security Instrument, whether or not then due, with
<br />any excess �aid to Borrower. If Borrower abandons the Property, or does not answer within the number o£ days
<br />prescribed by Applicable Law as set forth in a notice from Lender ta Borrower that the insurance carrier has
<br />offered to setCle 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 nat then due. The period of
<br />time for Borrower Ca answer as set farth in the notice will begin when the notice is given.
<br />Unless I..ender 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 the Contract or change the amount of the payments. If under
<br />the section titled Acceleration; Remedies, the Property is acquired by Lender, Borrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the
<br />extent of the sums secured by this Security Instrument immediately prior to the acquisitian.
<br />Preservation, Maintenance and Frotection of the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or carnmit 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 forfeirure 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 />xeinstate, as provided in section titled Borrower's Right to Reinstate, by causing the action or proceeding to be
<br />dismissed with a xuling 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. Borrower shall also be in default if gorrower, during the loan application process, gava materially false or
<br />inaccurate information or statements to Lender (or failed to provide Lender with any material information) in
<br />connection wich the loan evidenced by the Contract. If this Security rnstrument is on a leasehold, Borrower shall
<br />comply wifh all the provisions of the lease. If �3orrower acquires fee title to the Property, the leasehold and the fee
<br />title shall not merge unless Lender agrees to the rnerger in writing.
<br />Protection of Lender's Rights in the Property. Tf 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 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 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 court, paying reasanable attorneys' fees and eritering on the Property to
<br />make repairs. Although Lender may take action under tlus section, L.ender does not have to do so.
<br />Any amounts disbursed by I.ender under this section shall Uecome additional debt of Borrower secured by this
<br />Security Cnstrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
<br />inCerest from the date of disbursement at the same rate assessed on advances under the Contract and sha11 be
<br />payable, with intere5t, upon notice from Lender to Borrower requesting payment.
<br />Inspection. Lender or its agent may make reasonable entries upon and inspections of the PrnperCy. Lender sha11
<br />give Borrower notic� at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />Condemnation. 'I'he proceeds of any award or claim for darnages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for canveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to C�ender.
<br />In the event of a total taking of the Property, the proceeds shall be applied co the sums secured by this Security
<br />lnstrument, whether or not then due, with any excess paid to Borrower. in the event of a partial taking af 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 otherwise agree in writing, the sums secured by this Security lnstrument shall be reduced by the amount of
<br />the proceeds multiplied hy the following fraction: (a) the total amount of the sums secured immediately before the
<br />taking, divided by (b) the fair market value of the Property immediate1y before the taking. Any balance shall be
<br />¢� 2O(W-2009 Compliance Systcros, Inc. 002A-52P9 - 20U9.12368
<br />Consumcr Rcal Estate - Security Inslrumenl UL203G Page 2 of 5 ww�v.eompliencesysterns.com
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