420 LAUREL DR 2018-01-02 MF Import

Borrower shall promptly discharge any hen which has priority over this Security Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by the ben in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the hen in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the hen while those proceedings are pending, but only until such proceedings are concluded, or (c) secures from the holder of the lien an agrees'.^ satisfactory to Lender subordinating the lien to this Security Instrument If Lender determines that any part of the Property is subject to a hen which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien Within 10 days of me date on which that notice is given. Borrower shall satisfy the hen or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term 'extended coverage,' and any other hazards including, but cot limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time rerriappings or similar changes occur which reasonably aught affect such determination or certification Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Managem,-nt Agency in connection with the review of any flood zone determination resulting from an cbjection by Borrower. if Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase ary particular type or amount of coverage Therefore, such coverage shall cover Lender, but tight or aught not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any nsk, hazard or liability and might provide greater or lesser coverage than was previously in effect Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requiting payment All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underl.,,ng insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible acid Lender's security is not lessened During such repair and restoration pencil, Lender shall have the right to IndmIs h S4, (M•61'NAI (0012) Patio 6 of 15 Form 3048 tint m 20o;>04050080