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NOV-z5-z011 15:25 From:
<br />To:818774229960 P.7�c0
<br />201�09325
<br />All insurance policies reguired E�y I.enti�r and rGnewals of �uch pa}ici�s shall be subject to Lender's right to
<br />,_ dis�pprove svc� policies, shal! include � standud martgage clause, wd sh�ill nam� Lender as mortgagee
<br />anc4/c�r;s,ti dn �cidilit�n�l 1C�34 payec. Lender sha11 have the ri�ht to hold the �liCi�S and renCwal Certificate�. If
<br />L.ender requires, B�rrower sha]I prdmp�ly giv� tc� Lcndcr �11 receipis of paid premiums and renew�l notices.
<br />Tf Sorrc��uver c�btains any fonn of insurance coverage, not otherwise required t�y Lender, for damagc ro, c,r
<br />destruction of, the Propeny, such �lit;y shall in�lucle a standard mUrlgag� clause and shall naiue Lender as
<br />mortga�cc andlpr ac an additional loss payee.
<br />In the event of loss, Borrower sh�11 �ive prompt npcice to thc in�ur.a.ri�e carrier and Lender. Lender may
<br />inak� praul' c�f Ipss il' nqt madc promptly by $orrower. Unless Lender and Borruwcr c�thcrwisc agree in
<br />�vritin�, uiy insurance proceeds, wh�lher, t7r ncat ihc underlying irisurance was required by Lender, sliall be
<br />applied to restoratioa or repair of the F'roperty, if the restoration or rep�ir is econornic,slly fc.�.±ihlc �rn�i
<br />Lcndcr' SCCUri4y i� nc�t lCSSencd. During sucli repair and restoratipn �erir,Xi Lender shall hzve the right to
<br />hvtd such insurance praceecis until Lender has had an anPartunity to inspect such Froperty to ensure ttie
<br />w�rk has been completed to Leader's satisfaction, provided that such inspection shalt bc uniicrlaken
<br />promplly. Lcr►cicr may disbur,�c prc�cccds for thc repairs anc� resrordtiqn in a sin�le payment or in a series of
<br />pragress paymenu as the work is completed. Unless an agreenient is made ia writing or Applics,bte Law
<br />requires intcrost tn bc paid on sucl� insurance praceeds, t.cnder shal] nut k� ret�uir� to pay Borrower any
<br />interest or eatnings on such proc�eds. Fees for public adjusters, or other thir�i parties, retainCCl by Bc}TrCrwCr
<br />sh�ll nol re pait� raut �r Ch4 insuranCC pmcCCds and st�all bc: thC sA1C vbligation of Sorrawer. If the restoration
<br />or repair is not econumically feasible or Lender's seairity would be lessened, the insuranec pro�w�is �halt bt;
<br />appliCd t(� LhC Surns 3CCUrCti hy [hig SCCqrity InStrument whCthCr �r nnl then due, with tl�e excess, if �ny,
<br />paid to $orrower. Such 'snsurwce praceeds shall be appli�d i� the order provided it�r in ScctiUn 2.
<br />I1' S4rrdwer stb�ndon� lhe Properiy, L.Ctidvr rr�y tilc;, n�gc�tiate and settle any available insura�tce claim and
<br />related matters. If Borrower does not respvnd within 30 days to a notice from Lcndcr that th4 insuranr�
<br />carrier �as offered t� szttle a claun, then Lender may negutiatc and scttic lhe cluim. The 30-day period will
<br />�gin whee the nvlice is given. In �ither ovent, nr if 1.Cncier acqaires the Progerty under Sectian 22 ar
<br />otherwise, Borrotiver hereby assigns to Lender (a) Borrower's rights to sny in;�urance prUCeecis in w amount
<br />uot to excccct thc amounts �n�aid under the Note ar thls Sccurity instrument, and (b) any odier of
<br />Borrawer's ri�hhts (other than the risht to any refuad of unearned preuuutns paid by Bc�rmwCr) under all
<br />insurance palicies covering the Property, insafar as such rights are ap�rlic:�lile t� the coverage of the
<br />Fcvperty. Lender may use the insurance �roc�eeds either to reptir or restore the property or to psy amc�unls
<br />unpaid under the Note or this Seeurity lnstruiuent, wl�ether t�r nat thCn tiue.
<br />6, Occupancy. Borrower shall occupy, establish, and use the Properry as l�orrower's princ.i�al resident.e
<br />wit�in 6t} days after t�e exeeution ot this Seeurity Instrumcnt ancl shau s;antinue to occupy tbe Property as
<br />Barrpwe;r's princ.i�al resici�nu: tpr at 14ast pn�: ycar aflcr �,he date of occupancy, uuless Lender othCrwisc
<br />a�rees in writin,�, which consent shall nat be unreasonably withheld, or ut�less extenuating cir�umstanr,es
<br />exist wl�ic,h are beyond �orrower's eonrrol.
<br />7. Presenr�tion. Mainten��ce and Prutection c�f the Property; Inspections. Burrpwer sh;�i] nvt destroy,
<br />d��ge ar irnpair the Property, a11ow the Property ta deterioratc nr cc�mmit wasta on the Progerty, iN�tether
<br />or nnl B�rrcywer is residin� in the 1'rcrpen.y, Bc�rmwer shall maintain tbe Property in or�ler tc, prcvcnt thc
<br />Propercy from deteriorating or decreast�ng in value due to its con�itiort. Unless it is determined pnrsuant to
<br />Scctic�n 5[h:it refrair or r�sWrdliUn i� nvt ecc�nornic;xlly feasibte, Borrower shall promptly rcpair the Pro�eriy
<br />if damaged to avoid furthee deterioration or dama�.e. If insarance or r.c�rntomnation procee�ls are paid in
<br />eonneetiqn with ct:�ntagc to, or the caking of, nc� Proper�y, Bc�rrower shall be respansible far repairing or
<br />resiaring the F'Yoperty only if L�ender has released praceetis for such �urposes_ LcndCr rn�y disburse proceeds
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<br />11/25/2011 12:32PM tGMT-07:00)
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