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<br />Preservation, Maintenance and Protecdon of the Property; Borrower's Loan Application; I{!easeholds.
<br />Borrower shall not destroy, damage or impair the Properiy, allow the Properiy to deteriorate, or comu►�t waste on
<br />the Property. Bonower sha11 be in default if any forfeiture action or proceeding, whether civil or crimin�l, is begun
<br />that in I.ender's good faith judgment could result in forfeiture of the Property or otherwise materially! impair the
<br />lien created by this Security Instrument or Lender's security interes� Bonower may cure such a default and
<br />reinstate, as provided in section titled Borrower's Right to Reinstate, by causing the action or proce�ding to be
<br />dismissed with a ruling that, in Lender's good faith datermination, precludes forfeiture of the Bonower's interest in
<br />the Property or other material impairment of the Iien created by this Security Instrument or I.ende�'s security
<br />interest. Bonower shall also be in default if Borrower, during the loan application process, gave materially false or
<br />inaccurate information or statemen�s to Lender (or failed to provide Lender with any material inforn�ation) in
<br />connection with the loan evidenced by the Note. If this Security Instrwnent is on a leasehold, Borrower sball
<br />comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee
<br />dtle shall not merge uttless 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 banl�uptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulations), then I.ender 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 wluch has prioriry
<br />over this Secunity Insirrument, appearing in court, paying reasonable attomeys' fees and entering ott tlie �roperty to
<br />make repairs. Although Lender may take action under this section, Lender does not have to do so.
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<br />Any amounts disbursed by Lender under this section shall become additional debt of Borrower sec �'ed by this
<br />Secwrity Instivmen� Unless Borrower and Lender agree to other terms of payment, these amounts i shall bear
<br />interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice pm Lender
<br />to Bonower requesting payment �
<br />Mortgage Insurance. ff L;ender required mortgage insurance as a condition of making t13e loan secu'red by this
<br />Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in e�`fect If, for
<br />any reason, the mortgage insurauce coverage required by Lender lapses or ceases to be in effect, Borcower shall
<br />pay the premiums required to obtain covarage substantially equivalent to the mortgage insurance pr�viously in
<br />effect, at a cost substantially equivalent to the cost to Bonower of the mortgage insurance previously in effect,
<br />from an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage in.c�,�nce coverage is
<br />not available, Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly mortgage
<br />insurance premium bein.g paid by Borrower when the insurance caverage lapsed or ceased to be in effec� Lender
<br />will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments
<br />may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the
<br />period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained.
<br />Bonower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve,
<br />until the requirement for mortgage insurance ends in accordance with any written agreement between Bonower
<br />and Lender or Applicable Law. !
<br />Inepection. Lender 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 specifjring reasonable cause for the inspectipn.
<br />Condemnation. The proceeds of any award or claim for dawages, direct or consequential, in coimecti q�'n with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, I'ue hereby
<br />assigned and sha11 be paid to Lender. �I
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by °' Security
<br />Instcvment, whether or not then due, with any excess paid to Borrower. In the event of a partial ' g of the
<br />Property in which the fair market value of the Properiy immediateTy before the ta,king is equal to or eater tha.n
<br />the amount of the sums secured by this Security Instrument immediately before the taking, unless Bo}rower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be rednced by th� amount of
<br />the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediatel}� before the
<br />taking, divided by (b) the fair market value of the Property immediately before the talting. Any balance sha11 be
<br />paid to Borrower. In the event of a partial talcing of the Property in which the fair market value of the Property
<br />immediately before the taking is less than the amount of the sums secured immediately before the taking, unless
<br />Borrower and Lender otherwise agree in writing or unless Applicable I,aw otherwise provides, the proceeds sha11
<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 i� after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within the minimum number of
<br />days established by Applicable Law after the date the notice is given, Lender 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 />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of the payments Payment of Principal and Interest; Late Charges and ��unds for
<br />Taxes and Insurance or change the amount of such payments. ii
<br />Borrower Not Released; Forbearance' By Lender Not a Waive�. Extension of the time for Il ayment or
<br />modification of amortization of the swns secured by this Security Instrwnent granted by Lender to any �cessor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's su„ cessors in
<br />m 2004-2010 Compliance Systems, Inc. EEOB-1C:EB - 2010.03.378
<br />Co�sumer Real Eatate - Sec�uity Iagtnmient DL2036 Paga 3 of 6
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