|
201309325
<br /> Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br /> Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> is
<br /> p evidencing the payments.
<br /> the request of Lender,Borrower shall promptly furnish to Lender receipts evidencin y
<br /> .
<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, defends against '
<br /> y, ga�nst 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 Instrument. If Lender determines that any
<br /> part of the Property is subject to a lien which may attain priority over this Security Instrumen t, Lender may give
<br /> Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth
<br /> above within 10 days of the giving of notice.
<br /> Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br /> Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br /> including floods or flooding, for which Lender requires insurance. This insurance y
<br /> q surance shall be maintained in the
<br /> amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by subject to Lender's approval which shall not be unreasonably withheld. If Borrower n
<br /> y er fads to maintain
<br /> coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
<br /> Property in accordance with section titled Protection of Lender's Rights in the Property.
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br /> Lender shall have the right to hold the policies and renewals. If Lender requires,q s, Borrower shall promptly give to
<br /> Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice
<br /> to the insurance carrier and Lender. Lender may make proof of loss rr P p
<br /> y p s�f not made promptly by Borrower.
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br /> Pp a
<br /> repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not
<br /> lessened. If the restoration or repair is not economically feasible
<br /> y 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,excess paid to Borrower. If Borrower abandons the Property, 'with
<br /> operty, or does not answer within the number of days
<br /> prescribed 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 p epair 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 i s given.
<br /> p
<br /> given.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to rinci al shall not postpone the due date of the payments due under the Contract or change the amount p p of extend
<br /> of the payments. If under
<br /> the section titled Acceleration; Remedies, the Property is acquired by Lender, Borrower's right gh to any insurance
<br /> policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender of the sums secured by this Security Instrument immediately � F ender'to the
<br /> y ty t immediately prior to the acquisition.
<br /> Preservation, Maintenance and Protection of the Property; Borrower's Loan A pp lication; Leaseholds.shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit
<br /> waste on
<br /> the Property. Borrower shall be in default if any forfeiture action or proceeding, civil or
<br /> that in Lender's good faith judgment could result in g' criminal, is begun
<br /> lien created l f forfeiture of the Property or otherwise materially impair the
<br /> sated by this Security Instrument or Lenders security interest. Borrower may cure such a default as provided in section titled Borrower's Right y ault and
<br /> ght 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 of the lien created ow'er's interest in
<br /> the Property or other material impairment Bated by this Security Instrument or Lender's security
<br /> interest. Borrower shall also be in default if Borrower, during the loan application process,information or statements to Lender (or pp p ess, gave materially false or
<br /> ( 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 Borrower acquires fee title to the Property,the leasehold and the fee
<br /> title shall not merge unless Lender agrees to the merger in writing.
<br /> Protection of Lender's Rights in the Property. If Borrower fails to erform the
<br /> contained in this Security Instrument, or there is a legal proceeding p covenants and agreements
<br /> g p oceeding that may significantly affect Lender's rights in
<br /> the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture
<br /> regulations), then Lender may do and pay for whatever is eiture or to enforce laws or
<br /> p y s necessaxy to protect the value of the Property and
<br /> Lender's rights in the Property. Lender's actions may include paying any sums secured
<br /> by a lien which has priority
<br /> over this Security Instrument, appearing in court, paying reasonable s
<br /> attorne 'fees and entering repairs.Although Lender may take action under this y �e�g on the Property to
<br /> section,Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this section shall become additional debt Instrument. Unless Borrower and ebt of Borrower secured by this
<br /> d Lender agree to other terms of payment, these amounts shall bear
<br /> interest from the date of disbursement at the same rate assessed on advances notice from Lender ces under the Contract and shall be
<br /> payable,with interest,upon der to Borrower requesting payment.
<br /> Inspection. Lender or its agent may make reasonable entries upon and inspections p p s of the Property. Lender shall
<br /> give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br /> ©2004-2012 Compliance Systems,Inc.CECA-7E49-2411L2.14.600
<br /> Consumer Real Estate-Scanty Instrument DL2036 Page 2 of 5
<br /> www.compliancesystems.com
<br />
|