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, , � , 201108366
<br /> - LOAD1 #: 9879965
<br /> Section 22 or othervuise, Borrower heraby assigns to Lendar(a) Borrower's rights to any insurance
<br /> proneeds an ar�amount not to exceed the amounts unpaid under the Nate or this Security Instrument,
<br /> and(bj any other of 8orrower's rights(ather than the right to any refiund of une,arned premiums paid
<br /> by Borrower)under ali insuranee policies cavering the Property,'snsafar as such rights areappticable
<br /> to the eoverage of Ehe Property.Lender may use the insurance proeeeds either ta repair ox restore the
<br /> Property or to pay amounis�npaid uc�erihe Noie or this Security lnstrurnent,whetheror notihen due.
<br /> fi. Occupancy.Borrower shaH s3ccupy,es#a#�Nsh,and t�se the Property as Borrc>wer's principal
<br /> residence withln 60 days after the e�cecution of this Security InsU�ment and shall cantinue tn or.ct�py
<br /> the Property as$orrawer's principai residence for at teast one year after the date of occupancy,un4ess
<br /> Lender otherwise agrees in writing,which consent shall not be unreasonably withheld, or unless
<br /> extenuafing circumsiaraces exisi which are beyond Borrower's conirol.
<br /> 7. PrsseruatFon,Mairttenanco and Protoctton af the Propsrty;InspacUor�s.Borrower shall not
<br /> destroy, damage or impair the E'roperty,allo�nr the€'repeFty to deterior�te or co�mit waste on the
<br /> Praperty.�IfJF�eth�or not Sorrower is r8siding In the Property,Borrawer shaN rr+ain#ain ihe Properiy in
<br /> ord�to preven#ths Prflperty#rom det�iora6ng or decreasing in value due to its corad�tion.Unless it is
<br /> de#ermined purst�an#to Sectian 5 tk�at repaw or�esi�ation is noi e¢c�rro[ni¢alty feasible,Borrawer shafl
<br /> prorrrptly repair the Propeety 'rf darnaged ta a�oid further deferioration or damage. If insueance or
<br /> canderr+nati�proceeds are{�aid in�onneetion with damage ia,or ihetaking of,the Property>8arrawer
<br /> shall be responsibiefarrepairingc9rrrestofingthe Aropertycmtyif Lenderhas released proceeds#avsuch
<br /> purposes.lender maq disburse proceects for the repairs and resforariott in a single payment ar in a
<br /> series o1 progress payments as E#�e work is compteted.#the insurance or condemnation proceeds ave
<br /> not sufficient ta rapair or resWre#he Property,Sorromter is not r�lieved af Bor�awer's ob6gation#or ihe
<br /> completion of such repair or restoration.
<br /> Lender or fts agent may make reasonable ec�tries upon and inspections at the Property.It it has
<br /> reasonable catise,tender may inspeet the irtterior o�the improvements on ft�e Property.te�der sha0 give
<br /> SDrrrsvuer rwfice aY th2 time af or prior to s�ch at�in#erior'snspectio�speciiying s�ch reasonable cause.
<br /> 8. 8orrower's Laan Appl7ca�##ia�.Borrflwer shall be in default if,durting ihe Loan applicatior}
<br /> process„BQrrovver or any persons or entiUes actirtg at#he dicectian af BQrrower or�nriih @oc�Qrtver's
<br /> knowledge or consent gave materially false,misleadi�g,or inaccurale information or s#atements to
<br /> Lender(or failed fo provide Lender with matarial infarmation)in connection y+ith ihe Loan.Ma#erial
<br /> represeniati�s includQ,butare nnt limiYed tn,represenYationscoracerning Borrower's occupancy ofihe
<br /> Property as Burrower's priricipaE residence.
<br /> 9. Protectian af Le�der's Interest in the Property and Rights Under thts 5ecur[!y lostrum�at.
<br /> If{a)Bocrowerfails to perform iha cavenan#sand agreemerais contained in ihis Security Instrument,(b)
<br /> �ere ig a�egal proceeding that might significantlq a#fect Lender's krterest in the�'roperty and{or rights
<br /> under this Security Irrstrument fsuch as a pxoceeding in bankruptcy,probate,#or condemnation or
<br /> farteiture,far enfarcemertt of a lien which may attain pcic�rity o�rer ihis Security ir�sttument ar to ettfarce
<br /> l�vs or reguFatiansj,or(c)Borrower has abandonec�the f'roperty,ihen tender may do and pay for
<br /> whatsver is reasonable os approp�iate to protect Lender's interest in#he Property and rights under#fiis
<br /> Secttrity Insttument,irtcfuding protecting and/orassessingthevat�ae afthe Rroperty,anc#securing and/
<br /> or repairing the Property. LendeYs actians can include,b�F are not 1�mited fa:(aj paying any sums
<br /> secured by a iien which has priority overihis 5ecurity,tnstrumen#;(b)appearing in court;and jc)paying
<br /> reasonabie attrnrteys'fees to protect its interest in the Properly and/or�ights under##sis Seourity
<br /> lnstrument,including its secured posiEian in a bankruptcy prc3ceeding.Securing t#�e Property ine{udes,
<br /> but is not iimitedto,enteringthe Pcoperty tamake repairs,changelocks,repiace orboard updoors and
<br /> windows,drain water irom pipes,elimina#e building s�r other code�olations or dangerous condi#ions,
<br /> and have u�ilities�smed on w ntf.Although Lender may take action under ihis Sectian 9,Lender does
<br /> not k�ave to do sQ and is nat under any duty or ohligation to do so.It is agreed#hat Lender ineurs no
<br /> IiabiBty for not taking:a�y or all actions authorized u�der this See#ion 9.
<br /> Any amounts dlsbursed by l.�ender under this Sectian 9 shall become addiiional debt of Borrower
<br /> secured by this Security Ins�umeni.Tl�ese am�unis shalt hear ir�terest at ihe�Jote rate#rom 1he date
<br /> of ctisbursemen#aru}shall be payable, wtth such interest, upon notice from Lender to Borrower
<br /> rec}uestin J paYment.
<br /> li 3his Security Instrument is an a ieas�hold,Borrower shatl corraply with al!#he provisions af the
<br /> lease.Barrflwrer shall not surren�r the leasefx�d estate and in#eres#s herein conveyed flr termina#e or
<br /> cancel the ground lease. Borrower shatl no4,withaut t#e express writFert etmsent o#Lender,alter or
<br /> amend the ground lease,kf Borrcmver aequires fee titte ta ttre Property,tf�e 4easEhold and the#ee tit{e
<br /> shall not mers�e unless Lender agrees to the merger in writing.
<br /> 10. Morlgage inaurance.ifl.eRCier tsqu'rred Mortgage tnsurance as a condition of making jfie loan,
<br /> Barrower sha11 pay the premiums required to maintain the Mortgage fnsurance irt eifect.ff,far artyreasan,
<br /> thehAartgageinsurance eoveragerequired by Lendereeases tabeavaiEab�from the mortgageir►surerthat
<br /> {�reviausly pravided such ir►surarnrn�arid Sarro�+erwas required iamakes�aratelydesignated payrnents
<br /> toward thepremiumsfor Mortgagelnsurance,BarravershaNpay#�epcemnrmsrequired�abta�caaerage
<br /> substantially aquNalent to the MorFgage Insurance previausly�e#fect,at a cosY substantially equtvalentto
<br /> fhe cost to�orrower of the Martgage leisurance previously in etfec�,fram an aiternate • ins�r
<br /> ini.tials•
<br /> PIEBflASiCA-Single Fam�y-Fanrria MaelPreddie Mae iiNlFORM INSTRtiMENF F4rm 3028�/411
<br /> Online Documents,Inc. P9�P! 6 Of 11 NEEDEED i 108
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