420 LAUREL DR 2018-01-02 MF Import

200304210986.008 9. Protection of Lender's Interest In the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants, and agreements contained in this Security Instrument, (b) there is a legal proceeding that might signtticanty affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condensation or forfeiture, for enforcement of a lien winch may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned die Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, includingrprotecting and/or assessing the value of the Properly, and securing aiWor repairing die Property. Lender s actions can include, but are not lintited to: (a) payml any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protest its interest in die Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Prope.ty includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water front pipes, eliminate building or other code violations or dangerous conditimis, and have udlitics icmed on or off. Although Lender nay take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by lender under this Section 9 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 requesting payment. if this Security Iristrunlent is on a leasehold, Borrower shall comply with all the provisions of the lemsc. If Borrower acquires fee title to die Property, the leasehold and die fee tide shall not merge unless Lender agrees to die merger in writing. 10. Mortgage insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain ire Mortgage Insurance in effect. If, for any reason. the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments inward the premiums for Mortgage Insurance, Borrower shall pay tine premiums required m obtain coverage substantially equivalent to the Mortgage insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an altertatc mortgage insurer selected by Lender. If substantially equivalent Mortgage hsurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when die insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of ivlortg3ge insurance. Such fuss reserve shall be non-refundable, notwithstanding the fact dot die Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in die amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward die premiums for Mortgage insurance. If Leader required Mortgage Insurance as a condition of making die Loan and Borrower was required to maize separately designated payments toward die prenliunhs for Mortgage insurance, Borrower shall pay die premiums required to nuintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or anti! termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at die rate provided in ere Note. Mortgage Incmance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does ixrt repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Morigage insurers evaluate their total risk on all such insurance in force from ante to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreemens are on terms and conditions tat ate satisfactory to the mortgage insurer and die other party (or parties) to these agreements. These agreements may require die mortgage insurer to make payments using any source of fimds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance prenumus). ©{(WAI (0012; Page a of 15 Farm 3048 1101 m