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��14��455
<br /> Appi�cable La�v. As used �n this Securi�y Ins�rument, the term "Applx�able Law" shal� mean all con�ro�ling
<br /> applicable federal, s�a�e and Ia�al statu�es, regula�i�ns, �rdinanc�s and admin�s�ra�ive rules and orders ��hat have
<br /> the effect�f 1av��as w�ll as a�l applicable final,non-�ppea�ab�e judic�al�p�nions.
<br /> �harges; Liens. Sorrower shal� pay a�1 taxes, assessments, charges, fines and imposi�ions attri�utabie to �he
<br /> Property wh�ch may attain priority o�er thxs Secur�ty Instrument, and leasehold pay�en�s or ground rents, if any.
<br /> At the reques�of Lender,Bor�ro�rer shall pr�mptXy fur�ish to Lender rece�p�s e��denc�ng�he pa�ments.
<br /> Borrflvtrer shall pr�mp�I�discharg� any lien v�hi�h has pri�rity o�er th�s Secur�ty�ns�rument unless Borr��u'er: �a}
<br /> agrees �n wri�ing t� the payment of the ob�igation secured by �he lien �n a ma�aner acceptable to Lender; (b�
<br /> c�ntes�s in g�od faith �he lien by, or defends aga�ns� enfarcemenl� of the l�en xn, Iega� proceedings wh�ch in �he
<br /> Lender's apinion operate ta pre��nt �he enforcement of the Iien; or �c} s�cures from the holder of the Iien an
<br /> agre�ment sa�isfac�ory to Lender subordina�ing�he lien to �his Security Instrument. �f Len�.er de�ermines�ha� any
<br /> part�f the Property is su�j e�t ta a �ien wh�ch may at�a�n pr��rity o�er�h�s Security Instrument, Lender may give
<br /> Barrower a not�ce ident�fying�he lien. Borrower shall sa�isfy the l�en or take one or more of�he ac�ions set f�rth
<br /> abo�e wi�hin ��days�f�he�i��ng of n���c�.
<br /> Hazard �r Praper�y Insura�ce. Borrov�er shal�keep the �mpr��remen�s now existing or hereafter erected an the
<br /> Property�nsured against loss b�fire,hazards inc�uded with�n the terrn"ex�ended c�verage" and any other hazards,
<br /> including fiaods or flaoding, for vvhich Lender requ�res �nsurance. Th�s �nsurance sha�1 be mainta�ned in �he
<br /> amoun�s and for�he periods tha�Lender requires.The insurance carr�er pr�v�ding the insurance shall be�hosen by
<br /> Borrovver subje�t to Lender's appra�al wh�ch shall na� �e unreas�nably w��hhe�d. �f Borrov�er fails to main�ain
<br /> caverage descr�bed ab�ve, Lender may, a� Lender's opt��n, ❑btain coverage to pro�ect Lender's righ�s in the
<br /> Praperty in accordance w�th s:ection ti�led Pratectinn of Lenderrs Rights in the Pr�perty.
<br /> All �nsurance policies and re�ewals shall be acceptable to Lender and sha�l include a standard martgage clause.
<br /> Lend�r shall ha�re the r�gh�to hold�he polic�es and renewals. If Lender requires, Borrov�er shall promptly g���t�
<br /> Lender a��rece�p�s�f paid premiums and renewal notices. �n�he even�af lvss, Borrov�er shall gi�e promp�not��e
<br /> �tn�he�nsurance carr�er and L�nder.Lender may make proof of loss�f na�made promptly by Borra�nrer.
<br /> Unless Lender and Borrawer- ath�rv�ise agre� �n wr�ting, insurance pr��eeds sha11 be app�ied to restoratx�n or
<br /> repa�r �f�he Property damaged, if, in Lender's sale discretion, �the restora�i�n or repair is econom�cal�y f�asib�e
<br /> and Lender's security is no� I�essened. �f, in Lender's so�e discreti�n, the rest�ra��on or repa�r�s nat e��nomzcal�y
<br /> feasil��e or L�nder's se�urity wau�d be lessened,the�nsurance proceeds sha�l be app�ied��the sums secured hy th�s
<br /> Se�ur�ty 7nstrument, whe�her or not then due, with any excess pa�d to B�rrower. �f Borr�wer abandans �he
<br /> Prflper�y, or da�s no�answer�within the nu�mber of days prescribed by App�i�ab�e Law as set f�rth in a no�i�e fr�m
<br /> Lender ta Borr�wer�ha�the �nsurance carr�er has offered�o set�Ie a c�a��m,then Lender may collect�he insurance
<br /> proceeds. Lender may use the pr�c�eds ta repair or res�flre the PrQper�y or to pay sums secured by�his SeCurity
<br /> �nstrument,vvhe�her�r no��h�n due.The period of time for Borra�ver�o ansvver�.s s��forth in the no�i�e wi�l�egin
<br /> when the notice is giv�n.
<br /> Un�ess Lender and Borr�wer o�herwise agr�e in v�ri�ing, any app�ica�ion of pro�eeds to pr�ncipa� shall not extend
<br /> or pflstpone the due date of the pay�nen�s due ur�der the Contrac�ar�hange the amoun�of the paymen�s. If under
<br /> �he sect�on�it�ed Acce�erati�n; Remedies, the Pr�perty �s acquired by Lender, Borrower's righ�ta an� insurance
<br /> policies and �roceeds resu�ting fr�m damage �a the Froper�y priar t� �he acquisi�ian shall pass t� Lender�o the
<br /> exten�of the sums secured b��h�s Secur��y Instruinent immediate�y prior tv the acquisi�ifln.
<br /> Pres�r�ation, �Vlaintenance and Pratection of the Property; B�rrower's Loan App��catinn; Leaseh�lds.
<br /> Barrower shall not destroy, damage or impair�he Properry, allav�the Prvper�y to deteri�rate, or G�mm.it was�e un
<br /> the Praperty.Borrower shall be�n default�f any farfeiture action or proceed�ng,whether civi�or�riminal, �s begun
<br /> that in Lender's good fai�h j udgment cuuld result in f�rfeiture of the Proper� or otherwise materially inlpair�he
<br /> Iien creat�d b� this Se�urity Instrumen� or Lender's security �n�erest. B�rrower may cure such a d�faul� and
<br /> reinsta�e, as provided in seGtion ti��ed Bvrrower's Right to Reinstate, by caus�ng�he aG��an or proceed�ng to he
<br /> dismissed wi�h a ruiing tha�, in Lender's good fai�h determina��on,precludes farf�iture of�he B�rrower's in�eres��n
<br /> the Proper�y ar o�her material impa�rmen� flf the lien created by this Securi�y Ins�rument ar Lender`s security
<br /> in�erest.B�rrower shall a�s�be in defau���f Borrov�er,during th�loan app�ication pr�cess,ga�e ma�eria�ly false or
<br /> �naccurate informati�n ar statements to Lender �ar failed t� pr��ide Lender v�ith any material �nforma���n� in
<br /> c�nnection w�th�he Ioan evidenced by the Contrac�. If�his SeCurity �nstrumen� is on a leasehuld, Borra�er sha�l
<br /> comply with all�he pr�visions of the lease. �f Borrovwer a�quires fee t��le to�he Proper�,�he Ieasehold and�he fe�
<br /> title shali n�t merge unless Lender agrees to�he merger in wr��ing.
<br /> Protecti�n nf Lender's Rights in �he Prflper�y. If Borrawer fa��s to perform the covenants and agreements
<br /> con�ained in this Security�nstrumen�, ar there �s a�egal proceeding that may signif cant�y affec�Lender's r�gh�s in
<br /> the Proper�y �such as a proceeding in bankruptcy, praba�e, f�r condemnati�n or forfeiture �r ta enforce lav�s flr
<br /> regulat�ons�, then Lender may do and pay fflr vvhate�er is necessary to pro�ect the �a1ue of�he Proper�y and
<br /> Lenderts r�gh�s in�he Property. Lender's ac�ians may inc�ude paying any surns secured by a lien which has priority
<br /> �ver th�s Secur�ty rnstrument, appearing in cour�,paying reasonable attorne�s'fees and en�ering on the Praperty to
<br /> make repairs.Although Lender ma�take ac�iQn under�his sectian,Lender d�es na�have�o do so.
<br /> Any amounts disbursed by Lender under �his section sha1� becon�� additiona� debt of Borrower secured by this
<br /> Securi�y �nstrumen�t. Unless Borr��ver and Lender agree �o o�her �erms af payment, these amounts sha11 bear
<br /> interest from th� date of disbursemen� a� the same rate assessed on advances under the Contrac� and sha�l be
<br /> payable,wi�h interes�,upon n�tice from Lender�o Barr�wer request�ng paynlen�.
<br /> C��044-24t3 Cornpliance Systerns,inc.8EB3-53BS-��13L2.D.E1.7I2
<br /> Cgnsumer Real Estate-Security Instniment DL2a35 Page 2 of 5 www.�omplian�esysterns.com
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