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2011004�3
<br />Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one nr more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />Hazard ow Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Properry insured against los5 by �re, hazards inclucled within the term "extended coverage" and any other hazards,
<br />including floods or flooding, ti7r which Lender requires insurance. This insurance shall be maintained in the
<br />amc�unts and l:or the periods that I..ender rcquires. The insurance carrier providiz�g the insurance shall be chosen by
<br />�3orrower subject to Lender's approval which shall not be unreasonahly withheld. If� Borrow�r fails to maintain
<br />coverage described above, Lender may, at Lender's optian, obtain coverage to protect Lender's rights in the
<br />Property in accordance witli section titled Protection of Lender's Rights in tl�e Property.
<br />All insurance policies and renewals sha11 be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to h�ld th� policic:s and renewals. If Lender requires, Borrower shall promptly give to
<br />i_,ender all receiptti of paid premium5 and renewal notices. In the evenc of lpss, Borrawer shall give prornpt notice
<br />Co the insurance carrier and Lender. Lender may make proof of 1oss if not rnade prarnptly by Borrower.
<br />Unless Lender and I3cirrower otherwise agrce in writing in5urance proceeds shall be applied tc� restoration or
<br />repair of the Properry damaged, if the retitoration or repair is economically feasible and Lender's security is not
<br />leti5ened. If the restoration or repair is not economically fea5ible or Lender's security wc�uld be l�ssened, the
<br />insurance procceds shall Ue ap�lied to the sums s�cured by tl�is Security lnstrument, whether or not then due, with
<br />any excess paid to Borrower. If Borrower abandons the Property, or does not answer within the number of days
<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 Lender may collect the insurance proceeds. Lender may use the proceeds to rspair or
<br />restore fhe Property or to pay tiums secured by this Security Instrument, whether or not theii due. 'f'he period of
<br />time 1'or Rorrower to an5wer as sct forth in the notice will begin when the notice is given.
<br />Unless I�ender and �3orrower ntherwise agree in writing, any application of proceeds 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 Acceleration; Remedies, thc; Property is acquired by Lender, Borrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acquisition sllall pass to Lender to the
<br />extenC of the sums secured by this Security Instrument imrnediately prior to tlie acquisition.
<br />�'reservation, MaintenHnce and Protection af the 1'roperty; Borrower's T.oan Application; Leaseholds.
<br />Borrower shall not destroy, damagc: or impair the Property, allow the Property to deteriorate, or carnrnit waste on
<br />the �'roperty. Bnrrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in Lender's goc�d i'aith _jl►d�menC could r�sult in forfeiture of the Property or othc;rwise materially impair the
<br />lien created by Chis Security Instrument or Lender's security interest. Borrower rnay cure sudt a default and
<br />reinstate, as provided in secCion titled Borrower's Right to Iteinstate, by causin� the action or proceeding to be
<br />dismissed with a ruling tl�at, in Lender's �;ood faith determination, 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 I3orrower, during the loan application process, gave materially false or
<br />inaccurate infarination or statements to Lender (or failed to provide I�ender wiQi any rnaterial inFormation) in
<br />contiection with the loan evidenced by the Contract. lf this Security Instrument is on a leasehold, Barrawer 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 tl�E Yroperty. lf Borrower fails to perform the covenants and agreements
<br />contained in this Security Instrument, or Chere is a lugal proceeding that may 5igniticantly affect i.ender's rights in
<br />the Property (such as a proceeding in bankruptcy, probate, for condenu�►ation or forfeiture c�r 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 Prnperty. 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 attorneys' fees and entering on the Property to
<br />make repair5. Although Lender may take action under this seccion, Lender does not have to do so.
<br />Any amounts ditib�u�sed by Lender undcr this secCion shall bccome additional debt of C3orrower secured by this
<br />Security IiYSlrument. Unlesa C3c>rrower and I,ender agree to oiher tern�s nf payrnent chese amounts shall bear
<br />interest from the date of disbursement at the same rate assess�d on advances under the ContracC and shall be
<br />payaUle, with interest, up�n notice fi Lender to Borrower requesting payment.
<br />Inspectian. Lender or its a�ent may make reasonable entrieti upon and inspections of the Vrop�rty. Lender shall
<br />give Borrower notice at the iirne of or prior to an inspection specifying reationahle cause for the inspection.
<br />Conde�nnatian. The proceeds of any award or claim for da�nages, direcl or consequential, it� 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 he paid to Lender.
<br />ln the event of a total taking of the �'roperty, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, wliether or not then due, with any �xcess paici to Borrower. in the evenC of a partial taking of the
<br />Property in which the fair market value of the Property immediately before the taking is equal to c>r greater than
<br />lhe amount of tl�e surnti secured by this Security instrument immediately before the taking, unless Borrower and
<br />Lender otherwise agree in writing, thc sums secured by this Security Instrurnenl shall be reduced by the amount ofi
<br />the proceeds multiplicd by the Pollowing fraction: (a) the total amormt of the sums secur�d immediacely before the
<br />taking, divided hy (b) the f'air market value of the Property immediately before the taking. Any balance shall be
<br />paid tc� Borrower. In che event of a partial taking of t7ie Froperty in wliich the fair markeC value of the Property
<br />immediately beforc the taking is less than the amount of the sums secured inunediately before the takin�, unless
<br />c[9 ;004-2010/.'umpliance tiystems, Inc. 880B-U87ti - 2010.03378
<br />Consumer Iteal �.state - Sccurity Instrumcnt DL2U36 Page 2 uf 5 unv�v.compliuncesy3frnts,cum
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