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�011Q6�2�
<br />shall natify Borrower as requir�l by RESPA, a�l Bonower shaU pay w Lender the amount e�aary� ro make up the shortage
<br />in accordance with RESPA, but m no more than 12 monthlY PaYments. If there �S a de8c3ency of Punds held in escrow, as
<br />defined under RESPA, Lender sLall notify Bozrower as rec�uired by RESPA, and Borrower shall �y w Lender the amouat
<br />n�essary to make up the de5clency ia accordancc with RESPA. but in no mom than 12 monthlY �Yments•
<br />Funds held�by�Le�nder, in full of all sums secured by this Sec�ufty Tnshvwem, Le�er shall prompdy refund to Borrower aay
<br />4. Charges; Liens. Borrower shail pay all taxes, ass�sments, charges� fines, and impositions am�ibutable m the
<br />Properry whtch caa attein prlority over this Seciu�ity Inshvment, kasehold paymenis or grouad reats on the Property, if aay,
<br />and Community AssocBation Dues, Pees, and Asseasments, if any. To the extent that these items are Eacrow Items, Borrower
<br />ayalt pay them in the ma�mer pmvided in Section 3.
<br />Borrower aLall promptly discliarge azry llea which has prIority over this Secudty Insnument unless Bonower: (a)
<br />aS� ���$ to the payment of the obllgat[oa secured by the tien in a maimer acceptable to I,euder, but only so long es
<br />Borrower is performing such agreement: (b) concests the lien in good faith yy, or defends against enforcement of the lien in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the liea whiie Wose proceedi¢gs are
<br />peading, bnt oaly uatil such are conciuded; or (c) secures from the holder of the lien an agreement satlsfactory to
<br />Leader eul�rdinating the lien to this ecurity Inatrument. If Lender determmes that aay part of the Property is subject w a
<br />lien which can attain pri�rity over this SecuritY Instcument L.ender may give Borrower a�dce identifying ffie llen. Within
<br />10 days of the date on which that notice is given, Borrower shaU sadsfy the lien or take one or more of the actions set forth
<br />above !a this 5ection 4.
<br />Lender may require Borrower to pay a one-time cLarge for a real es�te tax veriSoaHon andlor repoiticg service nsed
<br />by Leader in coaaeclion with this Losn,
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter ereoted oa the Properiy
<br />insured againat loss by fire, bazards uxludai wIdila the teim "e�¢tteended coverage�" and airy other hazards lncluding, bnt not
<br />limited to, earthquakes and floods, for which Lender requires insurance. TLis msurance shall be mainrained in ffie arnounta
<br />(including deductible Ievels) and for the perIods that i.ender requires. tYhat Lender requtres pursiraant to the preter�ing
<br />sentences can change duriag the term of the Laan. The insurance carrier providing the insurance shall be chosea by Borrower
<br />snbject to I,ender's right to dlsapprove Boaower's choice, which rig6t sha[I not be exercised unreasaaably. I.eader may
<br />require Borrower to pay, in coanection with this L�a, either: {a) a one-wne charg for flood zone determination,
<br />cerdficatian aad uackiag services; or (b) a one-tune charge for flood zone determinatian and cert[ffcation setvices and
<br />subsE9uent cherges each fime remappinga or similar c6anges occur which reasoaably might affect suc6 determination or
<br />certit3cation. Borrower ahall also be responsible for the payment of any fees imposed�y the Federal Emergency Management
<br />Agency in coan�tlon with the review of any flood zone determination resulting from an obj�Non by Borrower.
<br />If Bonower fails to maintain any of the coverages describ�l above, Lender may obtain insurance coverage, at
<br />Leader's opuon and Boaower's expense. I.ender is uuder no obllgatton to purchase any perticular type or amount of
<br />coverage. 'fherefore, such covera�e shall cover Lender, but might or might not protect Borrower, Borrower's equity in the
<br />Properry, or the contents of the Property, aga3nst any risk, hazard or llabIlity ead might gmvide greater or leaser coverage
<br />than was previously ia effect. Borrower aclmowlaiges that the cost of the insurance coverage so obtained might signiflcantty
<br />excecd the cost of insurancc that Borrower cou[d have obtamed. Any amouats disbwrsed by Leader under rLis Secdon 5 shall
<br />become additional debt of Borrower secured by this 5ecurity Insuument. Theae amouats ahall bear interest at the Note rate
<br />from ihe date of disburaement and aLall be payable, witfi such interest, upon natice from Lender to Borrower requesdng
<br />PaYment.
<br />All imsaraace policies required by Lender and renewels of such policies ahall be subject w Lender's rig6t w
<br />disapprove such polJci�, shq11 inc]ude a staadazd mortgage clause, and shall name Lender as mortgagee and/or as an
<br />addidanal loss payee. Lender shall have the right to hold the policies ansl renewal cerdflcates. If I.ender requires, Borrower
<br />ahall prompUy give to Lender all receipts of paid premiums and renewai notices, If Borrower obtains any form of insurance
<br />coverage, aot offierwise required by Lendcr, for demage to, or destructlon of, the Property, such policy shall iaclude a
<br />standard martgage clause and shall aame I,ender as mortgagee andlor as aa additionalloss payee.
<br />Tn the event of loss, Borrower shallgrv e prompt notice to the insutance carticr and I.ender. Lender may make proof of
<br />loss if not made promptly by Borraarer. Uatess Lender aad Borrower o8:erwise agree in writing, aa3' insnrance proceeds,
<br />whether or not the uaderlying insurance was required by I,ender, shall Ix applled w reswration or repair of the Properry, if
<br />the restoration ar repair is economicatly feasible and Lender's sec�triry is aot le�eaed. Durlag snch repa's and restoration
<br />period, Lender shall have the right w hold such insurance proceeds uotil Lender has had en opportuaity to inspect such
<br />Property to ensuxe the work has been completed to Lender's satisfactton, provided that such iaspectton shall be uadertaken
<br />PromPUY. L� �y �� Procceds for the repairs a�i r�toradon in a single �yment or in a serles of progreas
<br />paymenta ss the work is completed. Uales.s an agreement is made in wriaag or Appticabie Law requlres lnterest to be paM on
<br />such insurance Froceeds, Lender sLall not be required to pay Borrower auy interest or earnings on such proce�s, F� for
<br />public adjusters, or other third parties, retained by Borrower shall not be paid rnrt of the 9nsivance pmceeds and shall be the
<br />sole obligation of Bonower. If the restoradon or repair �S not economfcallp feasible or Lender BP�CU2'l�y WOUIQ bC IC866��
<br />the insurance proceeds shall 6� applied to the sums sec�red by this Securiry Instrument, wltether or not then due, with the
<br />excess, if any, Pa1d to Borrower: Such insurance proceeds shall be applied ia the oider provided for in Section 2.
<br />If Borrower abandons the Progerry, I.ender may flle, �godate and setfle any available iasurauce claim aml related
<br />matters. If Borrower does not respaad wfthLc 30 days to a ttotice from Leader that the msuraace carlier has offemd W settle a
<br />claim, then I.ender may negotiate and settle the claim. The 30-day period will begin when the notice ts given. In eiWer event,
<br />or if Lzader acquires the Property under Section 22 or othervvise, Borrower hereby assigns m Lender (a) Borrower's rights ro
<br />aay insurance proceeds in an amount n�t w exceed the amounts wipaid under the Note or this Security Insmament, end (b)
<br />any other of Borrower's rlghts (other than the right to auy refimd of unearned premhm�s paid by Borrower) under all
<br />insurance policies covering the Ptoperty, insofar as auch rights aze applicable to the coverage of the Property. Lender may use
<br />the iasucance proe�ds either to repair or r�wre the Property or to pay amounts uapaid under the Note ar this SecnrIty
<br />Inatrumera, �whether or not then due.
<br />6. Qccupaiacq. Borrower ahall , eatabliah, and nae the Property as Boaower's principel restdence withia b0
<br />days after the sxecm3oa of thla Securltyt�trument aad shall cont�nue to axupy the Property as Borrower's principal
<br />realdence for at least one year after the date of axupancy, unless Lender othe:wise agrees in writiag, which coasent ahall not
<br />be unreasoaably withhelrl, or unless exoemsating cuc�atances exist which are beyond Borrower's control.
<br />7. Preservatlon, Maintenence and ProtecNon of the Propertq; Inspections. Borrower shall not destroy, damage or
<br />impair the Propetry, aUow ttie Property to detei3orate or cornmit waste on the Prop�riy. VYhefl►er or not Borrower ia residing
<br />in the PropertY� Borrower ahall maiivaiu the Pro�rty in order to prevent the Praperty fram deterlorating or deczeasing ia
<br />value due to its condition. Uai�s it is determined pueguaat ta Secdon S that regair ar restoration is aot economically fasible,
<br />Borrower shall promptly repair the��Properry if damaged to avoid fiuther deterioration or damage. If insurance or
<br />condenwation proceeds are �peid ia ection wifh damage to, or the Widag of, the Property, Borrower shall be responsible
<br />for repairing or restoring Ure Property oaly if Lender has released pr�s for such purposes. Lender may diabnrse proceeda
<br />for the repairs and zestoration in a single payment or in a serIes of pro�ressps yments es the arork fs completed. If the
<br />insurance or condemaation pr�eeds ate not sufficient w repair or restore the Property, Borrower is not relieved of
<br />Borrower's obligation for the completion of anch repair or r�toreflon.
<br />n Form 3�6 Irol
<br />COLORADO—Sinple Famlly—Pannk Mae/Freddie Mea UNIFORM INSTqUMENT A,� __
<br />s�ko, er,�.m., um» ec cbw, eiw rorm Mo-i-co an�r�o �p,ge y� �P,qa� �rr
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