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Form must be completed
<br />2 012047�5
<br />Charges; Liens. Bonower shall pay all taxes, assessments, charges, fines and impositions attn'butable to the
<br />Property wlrich may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />At the request of Lender, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)
<br />contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from. the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instivmen� If Lender determines that any
<br />part of the Property is subject to a liea wluch may attain priority over this Security Instrument, Lender may give
<br />Bonower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth
<br />above withixi 10 days of the giving of notice.
<br />Hazard or Property Insnrance. Borrower shall keep the improvementa now existing or hereafter erected on the
<br />Property insured against loss by fire, bazards included within the term "extended coverage" and any other hazards,
<br />including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Boaower subject to Lende�s approval which shall not be unreasonably withheld if Boaower fails to maintain
<br />coverage descnbed above, Lender may, at Lender's option, obtain coverage to protect Lendei's rights in the
<br />Property in accordance with section titled Protect3on of Lender's Rights in the Property.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a staadard mortgage clause.
<br />Lender shall ha.ve the right to hold the policies and renewals. If Lender requires, Borrower shall prompfly give to
<br />Lender all receipts of paid premiums and renewal notices. In the evant of loss, Borrowar shall give prompt notice
<br />to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Bonower.
<br />Unless Lender and Bonower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasble and Lender's security is not
<br />lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Bonower. If Borrower abandons the Property, or does not answer within the number of days
<br />prescn'bed by Applicable Law as set forth in a notice from Lender to Borrower that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or
<br />restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The period of
<br />time for Borrower to answer as set forth in the notice will begin when the notice is given.
<br />Unless Lender and Borrower othervvise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of the payments due under the Coniract or change the amount of the payments. If under
<br />the section titled Acceleration; Remedies, the Property is acquired by Lender, Bonower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the
<br />extent of the sums secured by this Security Instrument immediately prior to the acquisition
<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Applicat3on; Leaseholds.
<br />Bonower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on
<br />the Property. Borrower sha11 be in default if any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the
<br />lien created by this Security Instrument or Lender's security interesk Boaower may cure such a default and
<br />reinstate, as provided in section tifled Borrower's Right to Reinstate, by causing the action or proceeding to be
<br />dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impairment of the lien created by this Security Insttument or Lender's security
<br />interest Borrower shall also be in default if Boaower, during the loan application process, gave materially false or
<br />ina,ccurate information or statements to Lender (or failed to provide Lender with any material information) in
<br />connection with the loan evidenced by the Contract If this Security Instrument is on a leasehold, Borrower shall
<br />comply with all the provisions of the lease. If Bonower acquires fee title to the Property, the leasehold and the fee
<br />title shall not merge unless Lea:der agrees to the merger in writing.
<br />Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants aad agreements
<br />contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lendei's rights in
<br />the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Properiy and
<br />Lender's rights in the Properiy. Lender's actions may include paying any suma secured by a lien wluch has priority
<br />over this Security Instcvment, appearing in court, paying reasonable attomeys' fees an,d entering on the Property to
<br />make repairs. Although Lender may take action under this section, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this section shall become additional debt of Borrower secured by this
<br />Security Instrumen� Unless Boaower and Lender agree to other terms of payment, these amouats shall bear
<br />interest from the date of disbursement at the same rate assessed on advances under the Contract and shall be
<br />payable, with interest, upon notice from Lender to Borrower requesting paymen�
<br />Inspection. L,ender or its agent may make reasonable entries upon and inspections of the Properiy. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection
<br />Condemna�ton. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
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<br />Consuma Real F�tate - Seeoriry Insav�nt DL2036 Page 2 of 5 w�vw.compllanceay�tems.com
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