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' 2U1U49474
<br />proceeds resulting from damage to the Property prior to the acquisitinn shall pass to Lender to the extent of the
<br />sums secured by this Security Instrurnent immcdiately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; L.easeholds.
<br />Borrower shall not destroy, darnage or irnpair the Property, allow the Property to detcriorate, or commit waste on
<br />the Property. Borrower shall be in default if any forfeiture action nr proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith jud�rnent could result in forfeiture of the Property or otl�erwise materially impair the
<br />lien created by this Security Instrument or Lender's security interest. Borrowet 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 delerminat►on, precludes forfciture of the Borrower's intetest in
<br />the Property or other material impairment of the lien created by this Security Instrument or Lender's securiry
<br />interest. Borrower shall also be in default if Borrower, during the loan application process, gave matcrially false or
<br />inaccuratc information or statements to Lender (or failed to provide Lender with any material information) in
<br />connection with the loan evidcnced by the Note. If this Security Instrument is on a leasehold, Borrower shall
<br />comply with all the provisis�ns. of,the le�se. If Borrnwer acquites fee title to che Property, the leasehold and the fee
<br />title shall not merge unless I.ender agrees to the merger in writing.
<br />Protection of Lender's Rights in the Property. If Borrowcr fails to perform the wvenants and agreeznencs
<br />contained in this Security Instrument, or there is a legal proceeding that m�iy signiticantly affect Lender's rights in
<br />the Property (such as a proceeding in bankruptcy, probate, for condeznnation 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 surns secured by a licn which has priority
<br />over this Security Instrumenc, appearing in court, paying reasonable attorneys' fees and entering on the Properry to
<br />make repairs. Although Lender rnay take action under this section, Lender 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 Tnstrument. Unless Borrower and L.ender agree to other terms of payrnenC, these arnounts shall bear
<br />interest from the date of disbursement at the Note rate and shall be payable, with inter�st, upon notice from L.endet
<br />to 8otrower teyuesting payment.
<br />Mortgage Insurance. If L,ender required mortgage insurance as a condition of making the loan secured by this
<br />Security Instrument, T3orrower shall pay the premiurns required to maintain the mortgage insuranc.e in effect. It, for
<br />any reason, the mortgage insurance coverage required by I.,ender lapses or ceases to be in effect, I3orrower shall
<br />pay che premiurns requrred to obtain covera�e 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 alternate mortgage insurer approved by L.ender. If substanlially equivalent mortgage insurance coverage is
<br />not available, Borrower shall pay to Lender each month a sum equal to one-iwelfth of the yearly mortgage
<br />_.. insuran�e premium being paid Uy Borrower when the rnsurance coverage lapsed or ceased to be in effect. Lender
<br />will accept, use and retain these payments as a loss reserve in lieu oF rnortgage insurance. Loss reserve payments
<br />may no longer be required, at the option of Lender, if rnortgage insurance coverage (in the amount and for the
<br />petiod that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained.
<br />Borrower shall pay Che prerniums required to maintain mortgage insurance in effect, or to provide a loss reserve,
<br />until the rcquirement far mortgage insurance ends in aa:ordance with any writtcn agreement between Borrower
<br />and Lender or Applicable Law.
<br />Inspection. I.ender or its agent may makc reasonable entries upon and inspections of the Property. I.ender shall
<br />give Sorrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />Condemnation. The proceeds of any award or claim for damages, direct or consequcntial, in connecdon with any
<br />condemnation or other taking of any part of the ProperCy, 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 procccds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any exccss paid to Borrawer. Tn the event of a partial taking of the
<br />Property in which the fair market value of the Froperty immediately before ihe taking is equal to or greater than
<br />the amount of the surns secured by this Security Instrument immediately beforc the taking, unless Borrower and
<br />L.ender otherwise agree in writing, the surns secured by this Security Instrument shall be reduced by the amount of
<br />the proceeds multiplied by the following fraction: (a) the total amount of the sums secured irnmediately before the
<br />taking, divided by (b) the fair rnarket value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower. In the event �f a partial taking nf the Praperty in which the fair markeC value of the Property
<br />immediately before the taking is less than the amount of thc surns sccured immediately before the taking, unless
<br />Borrower and I.ender otherwise agree in writing or unless Applicable I.aw otherwise provides, the proceeds shall
<br />be applied to the sua�z�s secwed by this Security Instrument whether or not the sums are then due.
<br />If thc Property is abandoned by B�rrower, or if, after nocice by Lender to Barrower that the condemnor offers to
<br />makc an award or settle a claim for damages, Borrower fails to respond to Lender within the tninirnurn nurnbcr of
<br />days established by Applicablc Law after the date the notice is given, I.ender is authorized to collect and apply the
<br />proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security
<br />Instrument, whether or not then due.
<br />C� 2(1�4-2D09 Cnmplianu. Systemy, Inc. UU2U-PSJy - 20U9.12.3G8
<br />Consum Real l'sstate - Security Ins lrument u1203G Pa�;u 3 nf 6 _,..,.._, www.cnmplixnausyslems.co
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