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20104921G
<br />Bonrower 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 />Hazard or Property Insnrance. 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 />�ncluding floods or flooding, 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 Borrower fails to maintain
<br />coverage described above, Lender amay, at �.,ender's option, obtain coverage to protect Lender's rights in tk�e
<br />Praperty in accordance 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 />Lender shall have tkie rzght to hold the palicies 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, Borrawer shall give prompt notice
<br />to the insnrance 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 shall be applied to restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and L.ender's security is not
<br />lessened. If the restoration or repair is not econoznically 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 paid to Bor�'ower: If Borrower abandons--the Property, or does not answer wzfihiin tha nurnbar vF c�ays
<br />prescribed by Applicable Law as set forth in a notice from Lender to Borrower that the insurance carrier has
<br />offered to settle a claim, then I.ender may collect the insurance proceeds. Lender znay use the proceeds to repair or
<br />restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The period of
<br />time for Barrower 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 o� the paymsnts due under the Contract or change tk�e amount of the payments. If under
<br />the section titled Aceeleration; Remedies, the Property is acquired by Lender, Bon'ower's right to any insurance
<br />policies and proceeds resulting from damage ta the Property pr.ior to the acquisition shall pass to Lender to the
<br />extent of the sums secured by this Security Instrument unmediately prior to the acquisitian.
<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 deteriorate, or commit waste on
<br />the Property. Borrpwer shall be in default if any forfeitur� 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 Instrument 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 Lender's good faith determination, precludes forfeiture of the Bortower's interest in
<br />the Property or other material impairment of the lien created by this Security Instarument or Lender's security
<br />interest. Borrower shall also be in default if Borrower, during the loan application process, gave r�aaterially false or
<br />inaccurate information or statements to Lender (or failed to provide Lender wi.th any material information) in
<br />connection with the loan evidenced by the Contract. If this Security Instrument is on a leasehold, Boxx'ower 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 perfnrrn the covenants and agreements
<br />contained in this Security Instrument, or there is a 1ega1 praceeding that may significantly affect Lender's rights in
<br />the Property (such as a proceeding in bankniptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulations), then Lender may do and pay for wlaatever is necessary to protect the value of the Property and
<br />Lender's rights in the Properiy. 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 attorneys' fees and entering on the Property to
<br />--- �nake repai�s. Althoug� Lendar-may-take acEion under t�ais section, I.ender does not have ta do so.
<br />Any amounts disbursed by I.ender under this section shall become additioztal debt of Borrower secured by this
<br />Security Instzuznent. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
<br />interest from the date of disbursement at the same rate assessed on advances under the Contract and shall be
<br />payable, with interest, upon notice frona Lender to Borrower requesting payment.
<br />Inspeetion. Lender or its agent may rnake reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasanable cause for the inspection.
<br />Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation 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 the sums secured by this Security
<br />Instrument, 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 market value of the Property imziaediately before the taking is equal to or greater than
<br />the amount of the sums secured by this Security Instrument immediately befor� the taking, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instxument 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 fair market value of the Property unmediately 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 talting is less than the amount of the sums secured immediately before the taking, unless
<br />� 2004-2009 Complipnce Systems, lnc. 002D-FA6F - 2009.12.368
<br />Cansumer Real Estate - Seenrity Insttument PT,2036 page 2 af 5 www.eompliancesystems.cam
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