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<br />Borrower a notice identiiying the lien. Borrower shall saCisfy the lien or take one or more of the actions set forth
<br />above within 10 days of the giving oPnotic�.
<br />Hazard or Property lnsarance. 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 floor�s or flooding, for which I_ender requires insurance. Thia insuranca shall be maintained in the
<br />amounts and for tiie periods that Lender requires. The insuranee carrier providin� the insurance shall be chosen by
<br />Borrower subject to C.ender'� approval which shall nol Ue unreasonably withheld. If' Borrower fails to maintain
<br />coverage described above, Lender may, at l,ender's optic>n, obtaiit coverage to protect Lender's rights in the
<br />Property in accordance with secCion titl�d Protection of I.,ender's Rights in the Property.
<br />All insurance policies and r�newals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the righC to hold the policies and renewals. lf I..ender requires, Borrower shall promptly give to
<br />Lender all receipts of paid preiniums and renewa1 notices. In the event of loss, Borrower shall give prompt notice
<br />to'the insurancc earrier and Lender. I.ender may make proof of loss if nnt made promptly by k�orrower.
<br />Unless I,ender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoratian or
<br />rep�ir of the Property damaged, if th� restoration or repair is economically feasible and Lender's security is not
<br />lessened. If the restoration or rcpair is nc�t economically feasible or Lender's security would be lessened, the
<br />insurance proaeeds st�all be applied to the sums secured by tliis Security Instrumea�t, whether or not then due, with
<br />a�y excess paid to Borrowar. If Borr�wer aband�ns the Property, or does not answer within the number or days
<br />prescribed by Applicable Law as set forfh in a notice frG�m Lender ta Borrower that the insurance carrier has
<br />off�red to settle a claim, then Lender may coliect the insurance proceeds. Lender may use the proceeds to repair or
<br />restore the Property or Co pay st�m� secured by t11is 5ecuriry Instrument, whether nr nat 1hen due. The period of
<br />time for Borrower to answer as set fi7rth in the notice will begin when the notiee is given.
<br />Unless Lender and Borrower otlierwise agree in writing, any application of praceeds 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 Acceleratiott; Remedies, the Property is acquired'by Lender, Borrower's right to any insurance
<br />policies and �roceeds resulting froni dama�e to the Property prior to the acquisition shall pass to Lender to the
<br />extent of the sums secured by t}ais Security InstrumenC inunediately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
<br />Bprrc�wer shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste an
<br />the Property. 13orrower shall be in default if any forfeiture action or proceeding, whethcr civil or criminal, is begun
<br />tl�at in Lender's.good fiaith judgment could result in forfeiture of the Property or otherwise materially impair the
<br />lien created by fhis Security lnsti or ,I.,ender'S security interest. Borrower may cure yuch a default and
<br />reinstat�, as provided in section titled Borrower's Right to Reinstate, by causing the action or proceeding to be
<br />disinissed witl� a ruling that, in L�nder's good faith deterinination, precludes forfeiture of the Borrower's interest in
<br />fhe Praperty or ot}ier material impairment of the lien created by tl�is Security Instru�ttent or Lender's security
<br />interest. Borrower shall also ba in default if B�rrower, during the loan application process, gave materially false or
<br />inaccurate information or statements to I..ender (or failed to provide Lender with any material information) in
<br />connection with the loan evidenced by the Contract. if this Security Instrument is on a leasehold, Borrower sha11
<br />cornply 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 Lend�r agrees to the merger in writing.
<br />Protection of Lender's Rights in the Property. If I3orrower fails to perform the covenants and agreements
<br />contained in this Security Instrument or there is a legal proceeding that may signiticantly affect Lender's rights in
<br />the Property (such as a proceedin�; in bankruptcy, probate, f��r 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, appearin� in court, paying reasonable attorneys' fees and entering on the Property to
<br />make repairs. Although Lender may take action under this section, Lender does not have to do sa.
<br />Ai�y amounts disbursed by Lender under this section shall become additional debt of Borrower secured by this
<br />Security Instrument. [Jn1eti5 Borrower and Lender agree to nther tc;nns of payment, these amounts sha11 bear
<br />inCerest froin ihe date of disbur�ement at tlie same rate assessed on advancea tmder the Contract and shall be
<br />payable, with interest, upon notice Prom Lender to Borrower rc:questing paymenC.
<br />Inspection. I..ender 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 to an inspection specifying reasonable cause for the inspection.
<br />Condemnation. The proceeds of any award c�r claim f��r damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance iu lieu of condemnation, are hereby
<br />assigned and shall be paid to l�ender.
<br />ln the event of a total takin�; of the Properry, the proceeds shall be appli�d tn the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In tl�e 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 �reater than
<br />the amount of the sums securecl by this Security Instrument immediately before the taking, unless Borrower and
<br />Lender otherwise agree in writing, the sums SECUred by this Security Instrument shall be reduced by fhe amount of
<br />the proceedti multiplied by the lollowing fraction: (a) the total amount of tlie sum5 secured iirunediately before the
<br />taking, divided by (b) the fair markeC value of the Property immediately befnre th� taking. Any balance shall be
<br />paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Praperty
<br />immediately before the taking is less than tlie amount of tlie sums secured immediately before the taking, unless
<br />u�> 2004-2010 Compliunce Systems, Inc, R�p13-13q)p - 2UIp.p3.378
<br />Cnnsumer Real Estate - Secw�ity Instrumc�u UL2U3G � Puge : of 5 www.complianccsystc�ns.com
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