RES 231425 - Laserfiche WebLink

then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of reasonable attorneys' fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a condition of making the loan secured by this Deed ofTrust, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Borrower shall pay the amount ofall mortgage insurance premiums in the manner provided under Section 2 hereof. Any amounts disbursed by Lender pursuant to this Section 9, with interest thereon, shall become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the 3% simple interest rate payable on the outstanding portion ofthe principal in the Note. 10. Inspection. Lender may make or cause to be made reasonable entries upon and inspection ofthe Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. Such inspections shall include, without limitation, those made by Lender as part ofthe periodic recertification ofeligibility ofBorrowerfor assistance under the Program. 11. Condemnation. Subject to the rights ofthe holder ofa senior deed oftrust, the proceeds of any award claim for damages, direct or consequential, in connection with any condemnation or other taking ofthe Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking ofthe Property the proceeds shall be treated as if received from a sale ofthe Property. The proceeds shall be applied to senior deeds of trust, and then to the sums to be repaid in the amount and manner described in the Note. Any part ofthe proceeds remaining after these amounts have been paid shall be paid to the Borrower. In the event the proceeds are less than needed to fully repay these sums, the proceeds shall be allocated first to the holder ofthe senior deeds and the remainder to that portion of the sums owed which are described in the Note. In the event of a partial taking ofthe Property, unless Borrower and Lender otherwise agree in writing, the proceeds shall be treated as if received from a sale of that portion ofthe Property which is taken in the condemnation. The percentage value ofthe portion taken, as compared to the full value of the entire Property, shall be determined by dividing the condemnation proceeds by the fair market value of the entire property just prior to the taking. This percentage value, once determined, shall be used for calculations below. Condemnation proceeds from a partial taking shall be allocated in the following manner: A. First, in payment of senior deeds of trust. 5