Laserfiche WebLink
9. Protection of Lender's Interest in the Property and Rights Under this Security Instrumethere <br />nt, If <br />is) Borrower <br />erfato perform <br />oughts venantslytaffectYLender's in erements s . thisSecuritythe <br />Property and/ores ghtst. )under <br />the leean proceeding Instrument (such t a proccanng in bankruptcy, probate, .or condemnation or forfeiture, for <br />enforcement of a hen which may attain priority over this Security Instrument or to enforce laws is <br />regulations), or (c) Borrower has abandoned the Property, then Leader may do and pay <br />for Lender's interest in the Property, and rights under this Security <br />reasonable or appropnzte to protect <br />Instrument, including -protecting and/or assessing the value of the Property, and securing and/or rby a lien <br />epairing <br />the Property Lender's actions can include, but are not limited to: (a)paying <br />any and sums sL mg ureseasonable <br />which has priority over this Security Instrument, (b) appearing n <br />attorneys' fees <br />postmon n aits <br />bankruptcy proceeding ySecuringrights <br />Prepenythis <br />includes, butInstrument, <br />ltmttedtto, <br />its secured p P <br />entering the Property to mane repairs, change locks, replace or boaad up doors and windows, dram water <br />from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned <br />on or off Although Lender may take action under this Section 9, Lender does not have to do so and is or all <br />under any duty or obligation to do so It is agreed that Lender incurs no liability for not taking any <br />actions authorized under this Section 9 <br />Any amounts disbursed by Lender under this Section 9 shall became additional e f <br />debt of Borrower <br />amounts shall bear mteresr at the Noteore rate from the do <br />secured by this Security Instrument. Theoof <br />Interest, upon nonce from Lender to Borrower requesting <br />disbursement and shall be payable, with such <br />payment. <br />If this Security Instrument is on a leasehold, Borrower <br />shall <br />h Bland pl fee h allshalthe no[ isions of unless <br />the <br />lease If Borrower acquires fee title to the Fropeny, <br />the Lender agrees to the merger in writing <br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of mfor anyaking the ro n. <br />Borrower shall pay the premiums required to mLainder ceasentain the s o be <br />previouslyfrom the motie Insurance in effect f gage insurer that <br />the Mortgage Insurance coverage required by <br />previously provided such insurance and Branco, rBorrower <br />was weruishallto make pay leparatcly designated <br />premiums required to obtain <br />award the premiums for Myments <br />ortgage Insurance, cost <br />Mortgage eeCa substantially <br />coverage substantially <br />ivalentto the I ineffectf from analternat <br />equivalentothost tequivalent <br />of the Insurancepreviauslp <br />mortgage insurer selected by Lender If substantially equivalent Mortgage Insurance coverage is not <br />to Lender the amount of the separately designated payments that <br />available, Borrower shall continue to pa}' <br />pwere due ayments as an the insurance non•refundableclossmeserv'e easin lieu to ge ceof Mortgagein Insurect ance.Insurance.nder will aSu ht loss reservcas}tallebe <br />coon -refundable, notwithstanding the fact that the Loan is ultimately paid m full, and Lender shall not be <br />required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss <br />reserve payments if Mortgage Insurance coverage (m the amount and for the period that Lender requires) <br />provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires <br />separately designated payments toward the premiums for Mortgage Insurance If Lender required Mortgage <br />Insurance as a condition of making the Loan and Borrower was required to make separately designated <br />required payments toward the premiums for Mortgage Insurance, ode Bmn-rcfunorrower shall <br />alll pay lss rethe premiu until Lender s <br />maintain Mortgage insurance in effect, or to p written <br />requirement <br />iforrs uhltesmunatinnds in or until terminationdance iss requ red byaApplicablebetween <br />Law Nothing n this <br />and <br />Lender <br />Section 10 affects Borrower's obligation to pay interest at the rare provided in the Note. losses it <br />Mortgage Insurance reimburses Lendeer I(�oor� as g eedty haBorrowerers not Note)s the panyrtoethenMortgage <br />may incur if Borrower does not repay <br />Insurance <br />Mortgage insurers evaluate their total risk on all such insurance m force from time to Line, an may <br />enter into agreements with other parties that share or modify their risk, or reduce losses These agements <br />are on terms and conditions that arc satisfactory to the mortgage insurer and the other party (or parties) these agreements These agreements may require the mortgage insurer to make payments using any source <br />of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage <br />Insurance premiums) hit+' <br />Initials tJJ� <br />Page 8 of 15 <br />"- Form 3048 1101 <br />•61tMA1 100121 <br />m <br />200204050080 <br />