ERIE COUNTYCLERKS OFFICE
`County Clerk's Recording Page
`Index MORTGAGELIBER
`Return To:
`Book 13176 Page 5769
`EQUIFIRST
`500 FORESTPOINT CIRCLE No. Pages 0026
`CHARLOTTENC 28273
`Instrument MTG 1-2 BANK
`Date : 7/27/2004
`Time : 3:46:46
`Control # 200407271454
`WALKElÙ SER # MT CV 016669
`JIM D
`EQUIFI'<BST CORPORATION
`Employee ID WAR
`0
`MORTGAGETAX
`0
`COUNTY $ 85.00 MTGAMOUNT $ 55,250.00
`COE ST TE $ 4.75
`BASIC . $ 276.00 Basic $ 276.00
`ADD'L Ó $ 113.00
`NFTA MT $ 138.00 Additional $ 113.00
`COE COUNTY $ 1.00
`COE ST GEN $ 14.25 Special Addl $ 138.00
`$ .00
`$ .00 Total $ 527.00
`Total: $ 632.00
`STATE OF NEWYORK
`ERIE COUNTYCLERKS OFFICE
`WARNING- THIS SHEET CONSTITUTESTHE CLERK'S
`ENDORSEMENT,REQUIREDBY SECTIONS 319&316-a
`(5) OF THE REAL PROPERTYLAWOF THE STATE OF
`NEWYORK. DO NOT DETACH. THIS IS NOTA BILL.
`DAVID J SWARTS
`COUNTYCLERK
`|11llil|llEll|llilAA||11ll
`M131765769
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`Return To:EquiFirst
`Corporation
`500 Forest Point Circle
`Charl otte. NC 28273
`Prepared By:
`Simon Le
`500 Forest Point Circl e
`Charlotte. NC 28273
`[h mAbove Thh Line For Recording:k.
`MORTGAGE
`MIN
`WORDSUSEDOliTEN IN TESDOCUMENT
`1 (A) "Security Instrument." This document, which is dated Jul 26 2004 ,
`together with all Riders to this document, will be called the "
`'ty
`Instrument."
`(B) "Borrower." Jim D Walker. a single man
`0
`6
`5 whose address is35 Dorris Avenue. Buffalo.NY 14215
`sometirnes will be called "Borrower" and sometimes simply
`"I" or "me."
`(C) "MERS"is Mortgage Blectronic Registration Systems, Inc. MERSis a separate corporation that is
`acting solely as a nominee for lander and Lander's successors and assigns. MERSis organized and
`existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint,
`MI 48501-2026, tel. (888) 679-MERS. MRPURPOSESOFRECORDINGTES MORTGAGE,MERSIS THEMORTUAGEEOFRECORD.
`(D) "Lender" EquiFirst Corporation
`will be called "lander." Lander is a corporation or association which exists under the laws of
`North Carol ina . Iander's addressis500 Forest Point Circle,
`Charlotte, NC 28273 .
`535835
`NEWYORK- Singh Famny- Fannia Mas/Freddle Mac UNIFORMINSTRUMENTWITHMERS Form 3033 1/o1
`6A(NY) gooost.os
`VMPMDATGAGEFORMS-(Bool521.7291
`l`f n.u
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`(E) "Note." Thenote signed by Borrower and dated July 26, 2004 , will be called
`the "Note." TheNote shows that I oweLender fi fty- five thousand two hundred fi ftyand 00/100
`Dollars (U.S. $55.250.00 )
`plus interest and other amounts that maybe payable. I have pmmisedto pay this debt in Periodic Payments
`and to pay the debt in full by August 1, 2034 .
`(F) "Property." The paperty that is described below in the section titled "Description of the Property,"
`will be called the "Property."
`(G) "Loan." The "Iman" means the debt evidenced by the Note, plus interest, any prepayment charges and
`late charges due under the Note, and all sums due under this Security Instrument, plus interest.
`(H) "SumsSecured." Theamounts described below in the section titled "Borrower's Transfer to Iander of
`Rights in the Pmperty" sometimes will be called the "Sums Secmed."
`(1) "Riders." All Riders attached to this Security Instrument that are signed by Borrower will be called"Riders." The following Riders are to be signed by Bormwer[check box as applicable]:
`7 1 Adjustable Rate Rider CondominiumRider Second HomeRider
`OBalloon Rider OPlanned Unit Development Rider 1-4 Pamily Rider
`VARider OBiweekly Payment Rider 2 Other(s) [specify]
`ARM Floor Rider
`87 (2) "Applicable Law." All controlling applicable federal, state and local statutes, regulations, ordinancra
`and administrative rules and orders (that have the effect of law) as well as all applicable final,
`non-appealable, judicial opinions will be called "Applicable Law."
`(K) "CmmmmityAssociation Dues, Fees, and Assessments." All dues, fees, assessments and other
`charges that are imposed on Borrower or the Property by a condominium association, homeowners
`association or similar organi.,ation will be called "Co=mity Association Dues, Fees, and Assessments."
`(L) "Electronic knds Transfer." "Electronic Funds Transfer" means any transfer of money, other than
`by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
`instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
`7 or credit an account. Someconunon examples of an Electronic Fusis Transfer are point-of-sale transfers
`(where a card such as an asset or debit card is used at a merchant), automated teller machine (or ATM)
`transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
`(M) "Eserow Items." Those items that are described in Section 3 will be called "Escrow Items."
`(N) "Miscellaneous Proceeds." "Miscellaneous Proceeds" means any corppensation, settlement, award of
`damages, or proceeds paid by any third party (other than Insurance Proceeds, as defined in, and paid under
`the coverage described in Section 5) for: (i) clamage to, or destruction of, the Property; (ii) Condemnation
`or other taking of all or any part of the Property; (iii) conveyance in lieu of Condemnation or sale to avoid
`Condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the
`Property. A taking of the Property by any governmental authority by eminent domain is known as
`"Condemnation."
`(0) "Mortgage Insurance." "Mortgage Insurance" means insurance protecting lander against the
`nonpayment of, or default on, the Ioan.
`(P) "Periodic Payment." Theregularly scheduled amount due for (i) principal and interest under the Note,
`and (ii) any amounts under Section 3 will be called "Periodic Payment."
`(Q) "RESPA." "RESPA" means the Real Estate Settlement Pacedures Act (12 U.S.C. Section 2601 et
`seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended
`fmmtime to time, or any additional or successr legislation or regulation that governs the same subject
`matter. As used in this Security Instrument, "RESPA"refers to all requiremenen and restrictions that are
`imposed in regard to a "federally related mortgage loan" even if the Ioan does not qualify as a "federally
`related mortgage loan" under RESPA.
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`BORROWER'STRANSFER10 LENDEROFRIGHTSIN THEPROPERTY
`I mortgage, grant and convey the Pmperty to MERS(solely as nominee for Lender and Lander's
`succesers in interest) and its successrs in interest subject to the terms of this Security Instrnrrent. This
`means that, by signing this Security Instrument, I am giving lander those rights that are stated in this
`Security Instrument and also those rights that Applicable Law gives to lenders who hold mortgages on real
`paperty. I amgiving lander these rights to pmtect Lender from possible losses that might result if I fail
`to:
`(A) Pay all the amounts that I oweIznder as stated in the Note including, but not limited to, all renewals,
`extensions and modifications of the Note;
`(B) Pay, with interest, any amounts that Leader spends under this Security Instrument to protect the value
`of the Property and Leader's rights in the Paperty; and
`(C) Keep all of myother promises and agreements under this Security Instrument and the Note.
`I understand and agree that MERSholds only legal title to the rights granted by mein this Security
`Instrument, but, if necessary to comply with law or custom, MERS(as nominee for lander and Lander's
`7 successors and assigns) has the right:
`'s (A) to exercise any or all of those rights, including, but not limited to, the right to foreclose and sell the
`(. Property; and
`2 (B) to take any action required of IAnder including, but not limited to, releasing and canceling this
`8 Security Instrument.
`DESCRIF1IONOFTHEPROPERTY
`7 I give MERS(solely as nominee for Leader and Iander's successors in interest) rights in the Paperty
`described in (A) through (G) below:
`(A) ThePmperty which is located at 102 Connel 1 y Avenue
`2) Buffal o [cin, Townar vmage), NewYork14215 izip cod.i.
`This Pmperty is in Erie . County. It has the following legal
`description: See Attached Exhi bit A
`(B) All buildings and other improvements that are located on the Property described in subsection (A) of
`this section;
`(C) All rights in other property that I have as owner of the Property described in subsection (A) of this
`section. These rights are knownas "easements and appurrenance attached to the Property;"
`(D) All rights that I have in the land which lies in the streets or madsin front of, or next to, the Property
`described in subsection (A) of this section;
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`(E) All fixtures that are now or in the future will be on the Property described in subsections (A) and (B)of this section;
`(F) All of the rights and property described in subsections (B) thmugh(B) of this section that I acquire in
`the future; and
`(G) All replacetnents of or additions mthe Property described in subsections (B) through (F) of this section
`and all Insurance Proceeds for loss or damageto, and all Miscellaneous Paceeds of the Property described
`in subsections (A) through (F) of this section.
`BORROWER'SRIGHTMMORMAGETHEPROPERTYANDBORROWER'SOBLIGATION
`TODEFENDOWNERSHIPOFTHEPROPERTY
`I promise that: (A) I lawfully own the Property; (B) I have the right to rnortgage, grant and convey
`the Property to Lender; and (C) there are no outstanding claims or charges against the Property, except for
`those which are of public record.
`I give a general warranty of title to Iander. This means that I will be fully responsible for any losses
`which Iznder suffers because someone other than myself has someof the rights in the Property which I
`promise that I have. I promise that I will defend myownership of the Pmperty against any claims of such
`rights.
`PLAINLANGUAGESECURITYINSFRUMENT
`This Security Instrument contains pmmises and agreements that are used in real property security
`instruments all over the country. It also contains other promises and agreements that vary in different parts
`of the country. Mypromises and agreements are stated in "plain language."
`O COVENANTS
`I pmmiseand I agree with Iander as follows:
`1. Borrower's Promise to Pay. I will pay to lander on time principal and interest due under the
`Note and any prepayment, late charges and other amounts due under the Note. I will also pay all amounts
`0 for uscrow Items under Section 3 of this Security Instrument.
`Payments due under the Note and this Security Instrument shall be madein U.S. currency. If any of
`mypayments by check or other payment instrument is returned to I ender unpaid, Leader may require mypayment be madeby: (a) cash; (b) moneyorder; (c) certified check, bank check, treasurer's check or
`cashier's check, drawn upon an institution whose deposits are insured by a federal agency, instrumentality,
`or entity; or (d) Electronic Punds Transfer.
`Payments are deemed received by Iander whenreceived at the location required in the Note, or at
`another location designated by IAnder under Section 15 of this Security Instrument. lander mayreturn or
`accept any payment or partial payment if it is for an amount that is less than the amount that is then due. If
`Iander accepts a lesser payment, IAnder may refuse to accept a lesser payment that I may makein the
`future and does not waive any of its rights. Leader is not obligated to apply such lesser payments whenit
`accepts such payments. If interest on principal accrues as if all Periodic Payments had been paid whendue,
`then lander need not pay interest on unapplied funds. lander mayhold such unapplied funds until I make
`payments to bring the Loancurrent. If I do not do mwithin a reasonable period of time, lander will either
`apply such funds or return them to me. In the event of foreclosure, any unapplied funds will be applied to
`the outstanding principal balance immediately prior to foreclosure. Nooffset or claim which I rnight have
`now or in the future against Lender will relieve mefrom rnakirig payments due under the Note and this
`Security Instrument or keeping all of my other promises and agreements secured by this Security
`Instrument.
`2. Application of Borrower's Payments and Insurance Proceeds. Unless Applicable Law or this
`Section 2 requires otherwise, lander will apply each of mypayments that IAnder accepts in the following
`order:
`First, to pay interest due under the Note;
`Next, to pay principal due under the Note; and
`Next, to pay the amounts due IEnder under Section 3 of this Security Instrument.
`Such payments will be applied to each Periodic Payment in the order in which it became due.
`Any rerrmining amounts will be applied as follows:
`First, to pay any late charges;
`Next, to pay any other amounts due under this Security Instrurnent; and
`Next, to reduce the principal balance of the Note.
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`If Leader receives a payment fmmmefor a late Periodic Payment which includes a sufficient amount
`to pay any late charge due, the payment maybe applied to the late Periodic Payment and the late charge. If
`morethan one Periodic Payment is due, Taler may apply any payment received fmmme: First, to the
`repayment of the Periodic Payments that are due if, and to the extent that, each payment can be paid in
`full; Next, to the extent that any excess exists after the payment is applied to the full payment of one or
`morePeriodic Payments, such excess maybe applied to any late charges due.
`Voluntary prepayments will be applied as follows: First, many prepayment charges; and Next, as
`described in the Note.
`Any application of payments, Insurance Proceeds, or Miscellaneous Proceeds to principal due under
`the Note will not extend or postpone the due date of the Periodic Payments or change the amount of those
`Payments.
`3. Monthly PaymentsFor Taxes AndInsurance.
`(a) Borrower's Obligations.
`I will pay to I.ender all amounts necessary to pay for taxes, assessments, water charges, sewer rents
`and other similar charges, ground leasehold payments or rents (if any), hazard or property insurance
`covering the Property, flood insurance (if any), and any required Mortgage Insurance, or a Ioss Reserve
`as described in Section 10 in the place of Mortgage Insurance, Each Periodic Payment will include an
`amount to be applied toward payment of the following items which are called "Escrow Items:"
`. b (1) The taxes, assessments, water charges, sewer rents and other similar charges, on the Property
`which under Applicable Law maybe superior to this Security Instrument as a Lien on the Pmperty.
`Any claim, demandor charge that is madeagainst paperty because an obligation has not been
`fulfilled is knownas a "Lien;"
`(2) Theleasehold payments or ground rents on the Property (if any);
`(3) The premium for any and all insurance required by Imder under Section 5 of this Security
`Instrument;
`(4) Thepremiumfor Mortgage Insurance (if any);
`(5) Theamount I maybe required to pay Imder under Section 10 of this Security Instrument instead
`of the payment of the premiumfor Mortgage Insurance (if any); and
`(6) If required by Inder, the amount for any CommunityAssociation Dues, Fees, and Assessments.
`After signing the Note, or at any time during its term, Imder may include these amounts as Escrow
`Items. The monthly payment I will makefor Escrow Items will be based on lander's estimate of the
`annual amount required.
`I will pay all of these amounts to Inder unless Inder tells me, in writing, that I do not have to do
`so, or unless Applicable Law requires otherwise. I will makethese payments on the same day that my
`Periodic Payments of principal and interest are due under the Note.
`The amounts that I pay to Inder for Escrow Items under this Section 3 will be called "Escrow
`Funds." I will pay Leader the Escrow Funds for Escrow Items unless I.ender waives myobligation to pay
`the Escrow Funds for any or all EnemwItems. Inder maywaive myobligation to pay to Inder Escmw
`Funds for any or all EscmwItems at any time. Any such waiver nmst be in writing. In the event of such
`waiver, I will pay directly, whenand where payable, the amounts due for any Escrow Items for which
`payment of Escrow Funds has been waived by I.ander and, if Inder requires, will promptly send to
`Inder receipts showing such payment within such time period as Inder may require. Myobligation to
`makesuch payments and to pmvide receipts will be considered to be a promise and agreement contained in
`this Security Instmment, as the phrase "promises and agreements" is used in Section 9 of this Security
`Instrument. If I amobligated to pay Escrow Items directly, pursuant to a waiver, and I fail to pay the
`amount due for an Escrow Item, Lender maypay that amount and I will then be obligared under Section 9
`of this Security Instrument to repay to I mder. Inder mayrevoke the waiver as to any or all Escrow Items
`at any time by a notice given in accordance with Section 15 of this Security Instrument and, upon the
`revocation, I will pay to Lender all Escrow Punds, and in amounts, that are then required under this
`Section 3.
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`I promise to promptly send to Imder any notices that I receive of EscmwItem amounts to be paid.
`Lader will estimate fmmtime to time the amount of Escrow Funds I will have to pay by using existing
`asseumnenta and bills and reasonable estimates of the amount I will have to pay for Escrow Items in the
`future, unless Applicable Law requires Inder to use another method for determining the amount I amto
`pay.
`Inder may, at any time, collect and hold Escrow Funds in an amount sufficient to permit Lender to
`apply the Escrow Funds at the time specified under RESPA. Applicable Law puts limits on the total
`amount of EnemwFunds lander can at any time collect and hold. This total amount cannot be more than
`the maximumamount a lender could require under RESPA. If there is another Applicable Law that
`imposes a lower limit on the total amount of Escrow Funds Leader can collect and hold, Imder will be
`limited to the lower amount.
`(b) Leader's Obligations.
`lander will keep the Escrow Funds in a savings or banking institution which has its deposits insured
`by a federal agency, instrumentality, or entity, or in any Federal HomeI.oan Bank. If Lender is such a
`7 savings or banking institution, Inder mayhold the Escrow Funds. Leader will use the Escrow Punds to
`5 pay the EscmwItems no later than the time allowed under RESPAor other Applicable Law. Inder will
`( give to me, without charge, an annual accounting of the Escmw Funds. That accounting will show all
`2 additions to and deductions from the Escrew Funds and the reason for each deduction.
`6 lander maynot charge mefor holding or keeping the Escrow Funds, for using the Escrow Funds to
`/. pay Escrow Items, for roaking a yearly analysis of mypayment of Escrow Funds or for receiving, or for
`3 verifying and totaling assessments and bills. However, Inder maycharge mefor these services if Inder' pays meinterest on the Escrow Funds and if Applicable Law permits Inder to makesuch a charge.
`Lender will not be required to pay meany interest or earnings on the Escrow Funds unless either (1)
`Ù Lender and I agree in writing that Inder w( pay interest on the Escrow Funds, or (2) Applicable Law
`requires Lender to pay interest on the Escrow Funds.
`(c) Adjustments to the EscrowFunds.
`Under Applicable Law, there is a limit on the amount of Escmw Funds Inder may hold. If the
`amount of Escrow Funds held by Inder exceeds this limit, then there will be an excess amount and
`RESPArequires Leader to account to mein a special manner for the excess amount of Escrow Funds.
`If, at any time, Inder has not received enough Escrow Funds to Inake the payments of Escrow Items
`whenthe payments are due, Inder maytell mein writing that an additional amount is necessary. I will
`pay to Leader whatever additional amount is necessary to pay the Escrow Items whenthe payments are
`due, but the numberof payments will not be morethan 12.
`WhenI have paid all of the SumsSecured, Inder will promptly refund to meany Escrow Funds that
`are then being held by Inder.
`4. Borrower's Obligation to Pay Charges, Assessments And Claims. I will pay all taxes,
`assessments, water charges, sewer rents and other similar charges, and any other charges and fines that
`may be imposed on the Property and that may be superior to this Security Instrument. I will also make
`gmundrents or payments due under mylease if I ama tenant on the Pmperty and CommunityAssociation
`Dues, Fees, and Assessments (if any) due on the Property. If these items are Escrow Items, I will do this
`by nulring the payments as described in Section 3 of this Security Instrument. In this Security Instrument,
`the word "Person" meansany individual, organintion, governmeal authority or other party.
`I will promptly pay or satisfy all Liens agaimt the Property that may be superior to this Security
`Instrument. However, this Security Instrument does not require rne to satisfy a superior Lien if: (a) I
`agree, in writing, to pay the obligation which gave rise to the superior Lien and Inder approves the way
`in which I agree to pay that obligation, but only mlong as I amperforming such agreement; (b) in good
`faith, I argue or defend against the superior Lien in a lawsuit mthat in IAnder's opinion, during the
`lawsuit, the superior Lien may not be enforced, but only until the lawsuit ends; or (c) I secure fmmthe
`holder of that other Lien an agreement, appmvedin writing by lander, that the Lien of this Security
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`Instrument is superior to the Lien held by that Person. If IAnder determines that any part of the Property is
`subject to a superior Lien, Iendar may give Borrower a notice identifying the superior Lien. Within 10
`days of the date on which the notice is given, Borrower shall pay or satisfy the superior Lien or take one or
`more of the actions mentioned in this Section 4.
`Iander also may require meto pay a one-time charge for an independent real estate tax reporting
`service used by Iander in connection with the Ioan, unless Applicable Law does not permit Lender to
`makesuch a charge.
`5. Borrower's Obligation to Maintain HamardInsurance or Property Insurance. I will obtain
`hazard or property insurance to cover all buildings and other impmvements that now are, or in the future
`will be, located on the Property. Theinsurance will cover loss or damage caused by fire, hazards normally
`covered by "Extended Coverage" hazard insurance policies, and any other hazards for which Iander
`requires coverage, including, but not limited to earthquakes and floods. The insurance will be in the
`amounts (including, but not limited to, deductible levels) and for the periods of tine required by Iander.
`_ What Iander requires under the last sentence can change during the term of the Ioan. I maychoose the
`insurance company, but mychoice is subject to lander's right to disappmve. lander maynot disappmve
`mychoice unless the disapproval is reasonable. Iander mayrequire meto pay either (a) a one-time charge
`1 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 remappings or similar changes
`, occur which reasonably might affect the flood ane detennination or certification. If I disagree with the
`/ flood zone determination, I may request the Federal Emergency Management Agency to review the flood
`zone determination and I promise to pay any fees charged by the Federal Emergency Management Agency
`0
`f°r it''''ie"
`If I fail to maintain any of the insurance coverages described above, Iander may obtain insurance
`coverage, at Iander's option and myexpense. lander is under no obligation to purchase any particular
`type or amount of coverage. 'lherefore, such coverage will cover Lender, but might or might not pmtect
`me, myequity in the Property, or the contents of the Pmperty, against any risk, hazard or liability and
`might provide greater or lesser coverage than was previously in effect. I acknowledge that the cost of the
`7 insurance coverage so obtained might significantly exceed the cost of insurance that I could have obtained.
`J. Any amounts disbursed by Iander under this Section 5 will becomemyadditional debt secured by this
`Security Instrument. These amounts will bear interest at the interest rate set forth in the Note from the date
`of disbursement and will be payable with such interest, upon notice from Iander to me requesting
`payment.
`All of the insurance policies and renewals of those policies will include what is knownas a "Standard
`Mortgage Clause" to protect Iander and will nameIander as mortgagee and/or as an additional loss payee.
`The form of all policies and renewals will be acceptable to Leader. Iander will have the right to hold the
`policies and renewal certificates. If Lender requires, I will promptly give Iander all receipts of paid
`premiums and renewal notices that I receive.
`If I obtain any form of insurance coverage, not otherwise required by Lender, for damage to, or
`destruction of, the Property, such policy wH1include a Standard Mortgage Clause and will nameIander as
`mortgagee and/or as an additional loss payee.
`If there is a loss or damage to the Property, I w( promptly notify the insurance companyand
`Iander. If I do not promptly prove mthe insurance company that the loss or damageoccurred, then Iander
`maydo so.
`The amount paid by the insurance company for loss or damage to the Property is called "Insurance
`Proceeds." Unless Iander and I otherwise agree in writing, any Insurance Paceeds, whether or not the
`underlying insurance was required by Iander, will be used to repair or to restore the damaged Property
`unless: (a) it is not economically feasible to makethe repairs or restoration; (b) the use of the Insurance
`Proceeds for that purpose would lessen the protection given to Leader by this Security Instrument; or (c)
`Iander and I have agreed in writing not to use the Insurance Proceeds for that purpose. During the period
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`that any repairs or restorations are being made, Leader mayhold any Insurance Proceeds until it has had an
`opportunity to inspect the Property to verify that the repair work has been completed to Inder's
`satisfaction. However, this inspection will be done pmmptly. lander may makepayments for the repairs
`and restorations in a single payment or in a series of progress payments a the work is completed. Unless
`Leader and I agree otherwise in writing or unless Applicable Law requires otherwise, Iznder is not
`required to pay meany interest or earnings on the Insurance Proceeds. I will pay for any public adjusters
`or other third parties that I hire, and their fees will not be paid out of the Insurance Proceeds. If the repair
`or restoration is not economically feasible or if it would lessen 14nder's pmtection under this Security
`Instrument, then the Insurance Proceeds will be used to reduce the amount that I oweto Lender under this
`Security Instrument. Such Insurance Proceeds will be applied in the order provided for in Section 2. If any
`of the Insurance Proceeds remain after the amount that I oweto lander has been paid in full, the remaining
`Insurance Proceeds will be paid to me.
`If I abandon the Paperty, Iander may file, negotiate and settle any available insurance claim and
`related matters. If I do not answer, within 30 days, a notice from Leader stating that the insurance
`7 company has offered to settle a claim, Iander maynegotiate and settle the claim. The 30-day period will
`begin whenthe notice is given. In either event, or if Imoder acquires the Property under Section 22 of this
`Security Instrument or otherwise, I give lander my rights to any Insurance Proceeds in an amount not
`greater than the amounts unpaid under the Note and this Security Instrument. I also give Iander any other
`of myrights (other than the right to any refund of unearned premiums that I paid) under all insurance
`policies covering the Paperty, if the rights are applicable to the coverage of the Paperty. lander mayuse
`the Insurance Proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or
`this Security Instrument, whether or not then due.
`6. Borrower's Obligations to Oceupy The Property, I will occupy the Property and use the
`Property as myprincipal residence within 60 days after I sign this Security Instrument. I will continue to
`occupy the Property and to use the Property as myprincipal residence for at least one year. Theone-year
`period will begin whenI first occupy the Property. However, I will not have to occupy the Property and
`use the Property as my principal residence within the time frames set forth above if Lender agrees in
`) writing that I do not have to do m. Leader maynot refuse to agree unless the refusal is reasonable. I also
`will not have to occupy the Property and use the Property as myprincipal residence within the time frarnes
`set forth above if extenuating circumstances exist which are beyond mycontm1.
`7. Borrower's Obligations to Maintain And Protect The Property And to Pulfill Any Lease
`Obligations.
`(a) Maintenance and Protection of the Property.
`I will not destroy, anmage or harmthe Property, and I will not allow the Property to deteriorate.
`Whether or not I amresiding in the Paperty, I will keep the Property in good repair so that it will not
`deteriorate or decrease in value due to its condition. Unless it is determined under Section 5 of this
`Security Instrument that repair is not economically feasible, I will promptly repair the Property if damnped
`to avoid further deterioration or damage. If insurance or Condemnation (as def'med in the definition of
`Miscellaneous Proceeds) proceeds are paid because of loss or damage to, or Condemnation of, the
`Property, I will repair or restore the Property only if Lender has released those proceeds for such purposes.
`Iznder may pay for the repairs and restoration out of proceeds in a single payment or in a series of
`pmgress payments as the work is completed. If the insurance or andemnarian proceeds are not sufficient
`to repair or restore the Paperty, I promise to pay for the completion of such repair or restoration.
`(b) Leader's Inspection of Property.
`Iander, and others authorized by Iznder, mayenter on and inspect the Property. Theywill do so in a
`reasonable manner and at reasonable times. If it has a reasonable purpose, Iander mayinspect the inside of
`the homeor other improvements on the Property. Before or at the time an inspection is made, lander will
`give menotice stating a reasonable purpose for such interior inspection.
`535835
`Initlehf
`6A(N Y) 100051,04 Pfge8 of H Form 3033 1/01
`FILED: ERIE COUNTY CLERK 07/07/2025 05:04 PMINDEX NO. 811216/2024
`NYSCEF DOC. NO. 72 RECEIVED NYSCEF: 07/07/2025
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`S. Borrower's Loan Application. If, during the application process for the Iman, I, or any Person or
`entity acting at my direction or with my knowledge or consent, madefalse, misleading, or inaccurate
`statements to Lander about information important to Leader in determining myeligibility for the Loan (or
`did not pmvide lander with such information), Inder will treat my actions as a default under this
`Security Instrument. False, misleading, or inaccurate statements about information important to Imder
`would include a misrepresentation of myintention to occupy the Property as a principal residence. This is
`just one example of a false, misleading, or inaccurate statement of important information.
`9. Lender's Right to Protect Its Rights in The Property. If: (a) I do not keep mypmmisesand
`agreements madein this Security Instrument; (b) someone, including me, begins a legal proceeding that
`maysignificantly affect Lender's