420 LAUREL DR 2018-01-02 MF Import

2003f`4="i0985.006 Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrecs in writing to the payment of die obligation secured by ale lien contests the linen in goad facultzr ble le to Lender, but only so long as Borrower is performing such agreement, (b) by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrurnent. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. within 10 days of the date on which that notice is given, Borrower shall satisfy die lien or take one or ,note of the actions set forth above in this Section 4. Lender may require Borrower to pay a one -titre charge for a real estate tax verification andlor 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 again:[ Io ;s by fire, hazards included within than term "extended coverage," and any other hazards including, but not limited to, fender earthquakes and floods, for which requires incur that This insurance shall be maintained in die amounts (includingdeductible �levels) and for the change during the term of Lendcr requires. What Lender requires pursuant to the preceding 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 in connection with this Loan, either: (a) a one-time charge for flood zone require Borrower to pay, determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time renuppings or similar changes occur which reasonably ,night affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Pederal Emergency ivianagement Agency in connection with the review of any flood zane determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lendei o option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. 'rherefore, such coverage shall cover Lender, but night or might not protect Borrower, Borrower's equity in the Property, or the contents of die Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of die insurance coverage so obtained night significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Sccdon 5 dealt become additional debt of Borrower secured by this Security Instrument. Thcse amounl_s 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 requesting 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 sundard mortgage clause, and .dl name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold t .c policies and renewal slwll omptly give to Lender all receipts of paid premiums and certificates. If Lender inquires, Borrower p: renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, nor destruction of, the Property, such policy shall include a standard mortgage clause and shall ahme Lender as mortgagee and/or as in additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. fender may make proof of loss if not rude promptly by Borrower. Unless Leader arid Borrower oterwise agree in writing, any insurance Proceeds, weedier or not the underlying insurance was required by Lender, sliall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to Itiitiais: Form 3048 1101 ®•61WA1100121 P'Ge 6 of 15