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. 2 41140392
<br />Unless Lender and Barrawar athsrwise agree in writing, any application of proceeds ta principal shall not extend
<br />or pastpone the due date of th� payments referred to in the sections titled Payment of PrIncipal and Interest;
<br />Late Charges and Funds Por Taxes and Insurance ox change the a�nount of the payments. If under the section
<br />titled Aeceleration; Remedies, the Praperty is acquired I�y Lender, Borrower's right to any insurance policies and
<br />proceeds resulting from damage to the Froperty prior to the acquisition shall pass to Lender to the extent of the
<br />sums secured by this Security Instrument immediataly prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Froperty; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destray, damage or impair the Froperiy, allow the Froperty to deteriorate, ar commit waste on
<br />the Property. Borrower shall be in default if any forfeiture action or proceeding, whethet' civil or crirninal, is begun
<br />that in Lender's good faith judgment could result in forfeiture of the 1'roperty or otherwiae materially impair the
<br />lien created by this Security Instrument or L,ender's security interest. Barravver 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 d�termination, 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 Borrawer, during the loan application process, gave rnaterially false or
<br />inaccurate information or stataments to Lender (or failed to pravide Lender with any material information) in
<br />cannection with the loan evidenced by the Note. Tf this Security Instrument is on a leasehold, $orrower 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 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 farfeiture or ta enforce laws ar
<br />regulations), then Lender may da and pay for whataver is necessary to protect the valu� af the Property and
<br />Lender's rights in the Property. I,ender's actions may include paying any sums secured by a lien which has priority
<br />over this Security Instrument, appearing 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 ta dn so.
<br />Any amounts disbursed by Lander under this section shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms nf payment, these amounts shall bear
<br />interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice From Lender
<br />to Borrower requesting payment.
<br />Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this
<br />Security Instniment, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. It; for
<br />any xeason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Sorrower shall
<br />pay the premiums raquired to obtain coverage 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 Lender. If substantially equivalent mortgage insurance cnverage is
<br />not available, Borrower shall pay ta I.ender each month a sum equal to one-twelfth of the yearly rnortgage
<br />insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. Lender
<br />will accept, use and retain these payments as a loss reserve in lieu o£ mort�age insurance. Loss reserve payments
<br />may no langer be required, at the option of Lender, if rnortgage insurance coverage (in the amaunt and for the
<br />period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained.
<br />Barrower shall pay the premiums required to maintain mort�age insurance in effect, or to pravide a loss reserve,
<br />until the requiremant for mortgage insurance ends in accordance with any written agreement between Borrower
<br />and Lender or Applicable Law.
<br />Inspeetion. Lender ar 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. Ths proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />candemnation or other taking of any part af the Property, or For conveyance in lieu of condemnation, are hereby
<br />assigned and sliall be paid to Lender.
<br />In the event of a total taking of the Pz 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 immediately before the taking is equal to or greater than
<br />the amount of the sums secured by this Security Instrument immediately before tha taking, uriless Borrower and
<br />I,ender otherwise agree in writing, the sums secured by this 5ecurity Instrument 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 immediately 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 market value of the Froperty
<br />immediately before the taking is less than the amount of the surns secured immediately before the taking, unless
<br />Borrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the prpceeds shall
<br />be applied to the sums secured by this Securiry Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after nntice by Lender to Borrower that the condernnor offers to
<br />make an award or settle a claim for damages, Borrawer fails to r�spand to Lender within the minimum nurnber of
<br />days established by Applicable Law after the date the notice is given, Lender is authorized to collect and apply the
<br />prqceeds, 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 />(� 20U4-2009 Compliancc Systems, Inc. 002D-7pCl - 2009.12.368
<br />Consumer Resl Gstate - Sccurity Instlument DI,203G Nage 3 of 6 www.eomplianccsyscems.com
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