|
��14�15�1
<br /> Appl�cable Law. As us�d i.n �his Security Instrument, the �erm "Applicab�e Law" sha�l mean al� control�ing
<br /> applicab�e federa�, state and �oca� s�atutes, regu�at�ons, ard�nances and adminis�ratzve rules and orders ��ha� have
<br /> th�effec�af law�as�ve��as alI applicable fina�,nan-appealable judic�a�op�n�ons.
<br /> Charges; L�ens. B�rrawer sha�� pay a�l �axes, as��ssments, charges, f nes and impos��ions attributable ta �he
<br /> Property which may a�ta�n pr�arity over this Security �nstrum�nt, and leasehold payments or ground ren�s, if any.
<br /> At the reques�of Len�.er,Borr�wer shall pramptly furx�zsh t�Lender receip�s e��dencing the paymen�s.
<br /> Borrower shal� promp��y discharge any��en v�hich has pr�orx�y o��r th�s Secur�ty Instrument unl�ss B�rrower: �a}
<br /> agrees xn writing �a the pa�men� �f�he obX�ga�z�n secured by the Iien �n a manner acceptab�e to Lender; �b}
<br /> con��sts in �ood fait�i �he lien b�, or defends aga�ns� �nforcemen� tif the ��en �n, legal pr�ceed�ngs v�hich in the
<br /> Lender's op�n�an np�rate �o prevent the enforcemen� of the lien; or �c) secures fram the ho�der af the Iien an
<br /> agre�m�n� sa�isfactory tn Lender subordinatzng the l�en to this Secur�ty Instrument. �f Lender de�erm��es�hat any
<br /> par� of the Propert� �s subje�t�o a lien vtrhich may at�ain prior�ty over�h�s Securi�y �nstrumen�, Lender may g�ve
<br /> Borrawer a notice rden�if��na the �ien. Borrower shall sa�isfy�he l�en �r take one or rnare of the actions set f�rth
<br /> abave within ��days of�he gx��ng af no��ce.
<br /> �-Iazard ar PropQr�� Insuran�e. Borrower sha��keep�he impro�ements now exrst�ng or hereafter erec�ed on the
<br /> Fraper�y�nsured aga�nst loss by f re,hazards included within�he term "ex�ended c�verage" and any ot�er hazards,
<br /> �nc�uding flonds or flaadrng, for which Lender requxres insurance. Th�s insurance sha�� be main�ained i.n �he
<br /> am�unts and for the periods that Lender requ�res.The insurance carrier pro�id�ng the insurance sha��be chosen by
<br /> Barrawer sub�ect t� Lender's apprnva� which shal� not be unreas�nably w��hheld. If Barr�wer fai�s to mainta�n
<br /> c�verage des�ribed abave, Lender rriay, at Lender's op��on, obtain coverabe tQ protec� Lezad�r's righ�s �n �he
<br /> Pr�per�y in accnrdance wi�h s�c��on�itled Prat�ction of Lender's R�gh�s in the Property.
<br /> A�� �nsurance po�xcie� and renewa�s sha11 be accep�able �a Lender and shal� inc�ude a standard mortgage clause.
<br /> Lender shal�ha�e the r�ght�a hold�he po�icies and ren�wals. If Lender requires, Barrov�er sha�l promp��y gxv�to
<br /> Lender a�l rece�p�s o�'pa�d premiu.ms,and ren�wa�notiGes. �n the even�of��ss, B�rrower sha1l give prompt n���ce
<br /> �o�he insurance carrier and Lender.Lender may make proaf of�oss�f not made pramptly by Bnrrflvver.
<br /> Unless Lender and Barrower otherw�se a�ee �n wri�ing, insurance proceeds shal� be applied to restora�ion ar
<br /> repair of the ProperCy damaged, if, iri Lender's saie d�scr�tion, �he restora�ion ar repa�r is ec�nomicall� feas�ble
<br /> and Lender's securi�y is not �essened.;If, �n Lender's so�e discre��on, the res�ora��on or repair is no� ��onomica�ly
<br /> feasible or Lender's secur��y wvuld be�essened,�he insurance pro�eeds shall be app��ed to the sums secured by�his
<br /> Securi�y �ns�rumen�, whe�her or not �then due, wxth any exc�ss paid �o Borr�wer. If Bonr�wer abandons the
<br /> Froperty, �r d�es na�answer within�he number�f days prescr�bed by Appiicabi�Lavv as se�for�h xn a natice fr�m
<br /> Lender to Borr�wer�ha��he insurance carr�er has offered to se�t�e a claim, �hen Lend�r may co��ect t�e insurance
<br /> praceeds. Lender may use the proceeds�o r�pa�r or restare the Froper�y or t� pay sums secured by th�s S�curity
<br /> Instrument,whether or not�hen due.The period of�ime for Borr�wer to answer as se�for�h in the n��ic���X�begin
<br /> when the n���ce�s given.
<br /> Unless Lender and Borrower otherw�se agree �n writing, any applica�ion nf praceeds�a pr�nc�pal shal�not extend
<br /> ar postpone the due date af th�payments due under the Cantract or change�he am�un�of�he payments. �f under
<br /> �he sect�on ti�led Ac�eieration; Remedies, �he Property xs acquired by Lender, B�rrower's right to any insurance
<br /> policies and proceeds resul�in� from damage tn �he Property priar �o the acqurs���on sha�l pass �� Lender �a �he
<br /> ex�ent af the sums secured by�his Secur��y Instrument immed�a�ely prior�o�he acquisition.
<br /> Preservation, Main�enance and Prntection of the Prvperty; Borrowerts Loan Appifcation; Leasehalds.
<br /> Borro�nrer shall no�destroy, damage or impa�r the Pr�pert�, allaw�he Proper�y�a de�eriarate, �r comm�t v�aste on
<br /> �he PropeY-fiy.Borrawer sha�1 be in defau�t if any forfe��ure act�an ar proceed�nb,v�he�her civil or�rim��.al, is bebun
<br /> that in Lender's g�od faith judgm�nt could result �n f�rfeiture of�he Proper�y or atherwise mater�al�y impazr the
<br /> l�en created by th�s Securxty �nstrumen� or Lender's securit� znterest. Borrower may cure such a defaul� and
<br /> re�nstate, as pro�ided in se���on f��ied S�rrawer'� Right to Re�n�tate, by causing�he actian�r pr�ceeding ta b�
<br /> dismissed with a ru�ing tha�, in Lender's good fa��h de�erm�na��an,prec�udes f�rf�iture af�he Borravver's interest in
<br /> th� Property or o�her ma�erial zmpairm�n� af the l�en crea��d by this Securi�y Znst�rument or Lender's s�curity
<br /> xnteres�.Borrower sha��also be�n defau�t�f Barrower,during�h��flan appl�ca��an process,gave ma�erx�.�Iy false or
<br /> inaccurate �nformat��n or s�a�em�nts to Lender �or fai�ed t� pravide Lender wi�h any material informa��on} �n
<br /> connec�ion v�ith the �oan evidenced by�he Contrac�. �f�his Security Ins�rument is on a�easehald, Barrovver shal�
<br /> camply w�th all�he provisions af�he�ease. Zf Borrovver acquires fe�ti�ie to�he Property,�he leaseho�d and the fee
<br /> ti�Ie sha��not merge un�ess Lender agrees to�he merger�n wr��ing.
<br /> Protectian of Lender�s Righ�s in �he Pr�p�rty. �f Borro�ver fa�ls to perform �he co�enan�s and agreemen�s
<br /> can�ained in�his Secur�ty Znstrument, �r there is a lega�proceedua.g�ha�may s�gnif cant�y affec�Lender's rights in
<br /> the Properry (such as a praceed�ng in;bankruptcy, probate, for condemnat�on or f�rfeiture or�o enforce �avvs or
<br /> regulat�nns}, �hen Lender may do and pay for what�ver is necessary to pra�ec� the va�ue of�he P�-oper�y and
<br /> Lender's r�ghts in the Proper�y. Lender's actions ma�inc�ude pay�ng any sums secured by a�ien v�h�ch has prior�ty
<br /> aver this S�curity�ns�rument, appearin.g�n cour�,paying r�asonable at�orn�ys'fees and enteri�.g on�he Pr�perty ta
<br /> make repairs.Al�hough Lender may�ake action under this se��ion,Lender does not ha�e to do so.
<br /> Any amaunts disbursed �y Lender un.der this sec�ian shall become addi���na� deb� of Borro�wer s�c�red by this
<br /> Security Znstrumen�. Unless Bflrrov�er and Lender agree �� other �erms af payment, these amaun�� shall bear
<br /> �nteres� from �he date of dzsbursemen� a� �he same rate assessed on advances under the Contract and shall �e
<br /> payabie,wi�h�nter�s�,upon na�ice fro�rn Lender to Borrower request�ng paymen�.
<br /> �2��4-2013 Campliance Systems,�nc.SEB3-CD51-�Q I3L2.�.E 1,7I2
<br /> Cansurner Real Estate-Se�urity Instrument DL2d3b Page�af 5 www,comptiancesyste�ns.com
<br />
|