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�olo�s732
<br />Borrower 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 givin� of notice.
<br />Hazard ar Property I�rsurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by tire, hazards included witi�in the term "extended coverage" and any other hazards,
<br />including floods or tlooding, for which Lender requires insurance. This insurance shall be tnaintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing the insura�ce shall be chosen by
<br />Borrower subject to �ender's approval wltich shall not be unreasonably withheld. If Sorrower Fails to maintain
<br />coveraga described above, Lender may; at Lender's option, obtain coverage to protect Lender's rights in the
<br />Property in accordance with section titled Protection of Lender's Rights in the Property.
<br />All insurance policies and renewals shall be acceptabl� to Lender and shall include a standard mortgag� clauae.
<br />Lender shall have the right to hold Che palicies and renewal5. If L,ender requires, Borrower shall 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 loas if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agr�e in writing, insurance proce�ds 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 restoration or repair is not economically feasible or Lender's security wauld be lessened, the
<br />insurance proceeda shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />-- any excess paid �orrUwe� �f $arrower abandons the P�o}�erty, or does not answer within the number of days
<br />prescribed by Applicable Law ati set forth in a notice from Lender to Borrower that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or
<br />restore th� Property or to pay sums secured by this Security lnstrument, whether or not then due. The period of
<br />ti►ne for Borrower to answer a5 sel forth in the notice will begin when ihe notice is given.
<br />Unless I.,ender and Borrower otlierwitie agree in writing, any application of proceeds to principal sliall not extend
<br />or postpone the due date of the �ayments due under the Contract or cl�ange the amount of the payments. If under
<br />lhe section titled Accelei'ation; Remedies, the Yroperiy is acquired by Lender, Borrower's ri�ht 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 S�curity Instrurnent immediately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseliolds.
<br />Borrower shall not deytroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on
<br />the Property. Borrower shall be �n default if any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could result in 1'orfeiture 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 />reinskate, a5 provided in section titled Barrower's Rigl�t to Reinstate, by causing the action or proceeding to be
<br />dismissed with a n�ling that, in Lender's good faith determination, precludes forfeiture af tlie Borrower's interest in
<br />the Prop.erty or ot1�er material impairment of the lien created by this Sacurity Instrument or Lender's security
<br />interest. Borrower shall also be in detiau. lt if Borrowee, during the loan application process, gave rnaterially false or
<br />inaccurate information or statements to L�nder (or fai.led to provide Lender with any material informatinn) in
<br />connection with the laan evidenced by the C;ontract. Tf this Security Instrument is on a leasehold, Borrower shall
<br />comply with all the provisions of lhe lease. If �3orrower acquires fee title to the Property, the leasehold and the fee
<br />title sha11 not merge unless I�ender agrees to Che merger in writing.
<br />Protcctinn of Lender's Rights in the Property. If T3orrower fails to perform the cavenants and agreements
<br />contained in thi5 Security Instrument, or there is a legal proceeding that rnay significantly affiect Lender's rights in
<br />the Property (such as a proceeding in bankruptcy, prabate, for condemnatian or forfeiture or to enforce laws or
<br />regulatic�ns), 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 reasonable attorn�ys' fees and entering on the Property to
<br />make repairs. Although Lexrder rnay take action underthis sectian; Lender doc� �iot have to do so.
<br />Any ainounts disbursed by I.ender under this seccion shall become additional debc of Borrower secured by this
<br />Security Instrument. Unless Borrower and I.ender agree to other terms of paymertt, these amounts shall bear
<br />inlerest from the date of disbur5ement at the same rate assessed on advances under the Contract and shall be
<br />payable, with interest, upon notice from Lender to Borrower requesting pa,yment.
<br />Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower nntice at Che time of or prior to an inspection specifying reasonable cause for the inspection.
<br />Candemnati�n, T'he proceeds of any award or claim for damages, direcc or consequential, in connection with any
<br />condemnation or other taking c�f any part of the Property, or for conveyance in lieu oF condemnation, are hereby
<br />assigried and shall Ue paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the surns 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 immediately before the taking is equal to or greater than
<br />the amount of the sums secured by this Security Instniment immediately before the taking, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the arnount of
<br />the proceeds inultiplied by tli� following fraction: (a) the total arnount c7f 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 tlie event of a partial taking of the ProperCy in which the fair market value of the Property
<br />imrnediately betore the taking is less than the amomrt of the sums secured immediately before the taking, unless
<br />�� �OOq-.00� CUIIIPIIHIICC SY9�CI1lS� Inc. 002A-03CR - 2009. I 2.768, . �
<br />('.nnsumer Iteal �state - Security Instrument 6L2036 � Pugc 2 oF� wevw.compliancc�ystems.com
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