|
��14�17��
<br /> App�icable Law. �s used in this Security �n�trument, �he term "Applicab�e Law" shall mean al� con�rol�in�
<br /> app��cab�e federa�, sta�e and locai statu�es, regu�at�ons, ardinanc�s and adm�n�s�rati�e ru�es and orders �that ha�e
<br /> �he effe��of law�as we�l as ai�applicable fna�,non-appealable judicial opin�ons.
<br /> �harg�s; �..�iens. B�rr�wer shall pay all �axes, assessmen�s, charbes, fines and �mposi��ans attributable to the
<br /> Prflperty which may attarn prinrity o�er this Security �nstrument, and l�asehold paym�nts ar�round ren�s, if any.
<br /> At the request of Lender,Borrower shall prom�t�y furn�sh to Le�der receipts e�idenc�ng�he paymen�s.
<br /> Bflrrower sha�l pr�m�ptly dischar�e any lien which has priority aver this Security Instrum�ent unl�ss Borrow�r: �a}
<br /> agrees �n v�r�t�.n.g to �he payment �f the obli�atx�n secuared b}� the �ien in a manner acceptab�e to Lender; �b}
<br /> con�ests in bflod fa��h the �xen by, �r defends agaxnst enfo�cement of the 1�en �n, I��al proceed�n�s wh�ch in �he
<br /> Lender's apinian npera�e to prevent the enforcement af the t�en; ar �c� secure� from the ho�der of�he Iien an
<br /> agreement sat�sfact�r�to Lender subordi.r�.atin��he lien��this Se�urity �ns�rumen�. �f Lender de�ermxnes�hat any
<br /> par�of the Property is sub�ect to a lien which may attair� pr�arity ��er �his Security �nstrument, L,en�er rn�.ay ����
<br /> Barrov�er a nat�ce iden��fying the I�en. Borrower sha�� satisfy the tie� or ta�e ane ar more af�he ac���ns se� f�r�h
<br /> abo�e v��thin 1D days of�he�ivin�of noti�e.
<br /> Hazard ar Prvper�y Insurance. Barrov�er sha�l keep the �mproWements novv existing or hereafter erected �n the
<br /> Prap�r�xnsur�d a�ains��oss by�re,hazards inc�ud�d wi�hin�he term "extended�o�erabe" and any o�her hazards,
<br /> includin� floods �r flo�dxng, for wh�ch Lender requ�res �nsurance. Thzs insurance sha�l be ma�ntaz�ed in the
<br /> amaunts and for�he periods that Lender requ�res. The i.zasurance carrier providin�the insurance shai�be chosen by
<br /> B orrovver sub�ec� �a Lender's apprfl�a� whi�h shall r�ot be unreasonab ly wi�hheld. I f B�rrower faiis to maintain
<br /> ca�erage described ab�ve, Lender may, a� Lender's optiony �btain coverage t� pro�ect Lender's ri�hts in the
<br /> Pr�perty �n accordance�vith sec�ion�itled Pra�ectinn a�`Lender's Right� in the Praper�y.
<br /> A�l �nsuran�e po�i�ies and renewals shal� be accep�ab�e �o Lender and shall include a s�andard mor�ga�e clause.
<br /> Lender shali have the right to hold the policxes and renewa�s. If Lend�r requires, Borrower shall pramp��y �i�e to
<br /> Lender aI1 receipts af paid premiums and �renev�al n��ices. In�he e�en�of loss, Borrower sha�l�ive pro�-npfi notice
<br /> ���he insuran�e carrier and Lender. Lender may make prnof of loss if nat made pr�mptly by Borrovv�r.
<br /> Un�ess Lender and Bar�rower otherwise a�ree in wr�ting, �nsurance proceeds sha�l be applied �o res�aratian ar
<br /> repair of the Property damaged, if, i� Lender's sole dis�retion, the restara�ian or r�pair �s ecanomical�y feasib�e
<br /> and Lender's seGurx�y �s not �essened. If, in Lender's sole discretion, th� restora�ian or repair is not e�onamica�ly
<br /> � feasible or Lender's securi�y would be�essened,the insurance prnc�eds shail be app��ed to�he sums se�ured by this
<br /> Security �nstru�ment, whether or n�t �hen due, �vith any excess paid to Borrower. If Barrower abandons the
<br /> Proper�ty, or does not ansvver w��hin�he r�u�mb�r�f days prescribed by Applicable Law as se�for�h in a no�ice f�o�n
<br /> Lender t� Borrovver that�he insurance carrier has offered to set�le a c�ai�-n, then Lender�nay collect the insurance
<br /> proceeds. Lender may use the praceeds �o repair ar rest�re the Proper�y or �o pay su3ms s�cured by �his Security
<br /> - Instrumen�,whether or n�t then due. The per�ad�f�ime for Borrower ta ansvver as se�for�h�n�he nfltice wil�be��n
<br /> when the n�tice�s��ven.
<br /> Unless Lend�r an�Barrav�er n�herwxse agree zn writing, ar�y appii�a�ion of proceeds�o przncipa� shal� nflt exte�d
<br /> or pos�pone the due da�� �f�he payxnen�s due under the Con�rac�or change�he amount�f the payments. If under
<br /> the section titled A�ce�eratior�; Remedies, the Pr�perry is acquired by Lender, Borrower's r�gh�ta any insurance
<br /> po��c�es and proceeds resu�t�ng fram dama�e ta �he Praper�ty pri�r t� the ac�uisition sha�l pass to Lender �o �he
<br /> extent�f the sum�s secured b��his S�cur�ty �nstrument�mmedia�e�y prior�o�he acqu�s���an.
<br /> Pres�r�at�on, Main�enance and Protec�ion of �he Prop�r�y; Borrovver's Loan App�icati�n; Leaseholds.
<br /> Borrawer shali na� d�str�y, damage or impa�r th�Property, allovv the Proper�y�o de�er�ora�e, or com.mit was�e on
<br /> the Property. B�rrower shal�be in d�faul�if any forfe��ure ac��on or proce�din�,whether ci�il or criminal, is be�un
<br /> tha� �n Lender's �a�d faith�udgment could resu�t �n farfe��ure of the Pr�per�y or o�herwise mat�r�a��y impair t�e
<br /> ��en crea�ed by �his Secur��y Ins�rumen� or Lend�r's secur��y i�t�res�. Borrow�r may cure sucn a default and
<br /> reznstate, as prov�ded in sect�on �itied Borrow�r's Righ�to Re�nsta�e, by causin�the action or proceed�nb to be
<br /> dYsm�ssed vvith a rul�ng�hat, zn Lender's�oad faith determ�na�zan,precludes forfe�ture of the Borr�wer's int�rest�n
<br /> the Pr�per�y or ��her material impairmen� of�he ��en crea�ed by th�s Securi�y �nstrumen� ar Lender's secur��y
<br /> rn��rest. Borrower sha�l a�so�e in default�f Borrawer,during th� laan app�ica�ion pra�ess,gave�na�erially false ar
<br /> ina�cura�e �nformatian or statements ta L�nder �or fai��d to provide Lender with any r�aterial �nf�rmation� in
<br /> connection wi�h �h� lflan eWidenced by the ��n�rac�. If this Security �ns�rumen� is an a �easehold, Borrovver shall
<br /> comply vvith a���he�r���sions of the lease. If Borr�wer ac�uires fee tit�e ta the Proper�y,the �easehold and the fee
<br /> ����e shal�not rnerbe unless Lender a�rees�o the mer�er xn writ�ng.
<br /> Protec��on �f Lender's Rights in the Pr�p�r��. If Borrov�er fa��s to perfann the covenants and a�ree�ments
<br /> con�ained in�h�s Se�urity �ns�rumeri�, �r there is a le�a� proceed�ng tha�nr�ay si�nificantly affec� Lender's ri�h�s in
<br /> �he Proper�y �such as a praceed�n� xn bankrup��y, praba�e, for condemna�ion or forfeiture or to enf�rce Iaws or
<br /> re�ulat�ons}, �hen Lepder may do and pay f�r wha�ever is necessary to pro�ect �he va�ue �f the Pr�perty and
<br /> Lender's r��hts rn the Property. L�nder's actions may inciude payin�any sums secured by a Iien which has prxor��y
<br /> o�er�his Security Ins�rumen�y appear�ng in c�ur�,payin�reasonable at�orn�ys'fees and en�erinb on the Property�a
<br /> make repairs. A��hou�h Lender may�ake ac�ian und�r�h�s sectian,Lender daes not ha�e�o do so.
<br /> Any am�un�s disbursed by Lender under this s�ctian shall become addxti�nai deb� of Bflrrower secured by this
<br /> Security I�strum�nt. Un�ess Borrower and L�nder a�ree to other �erms of payment, these amounts shall bear
<br /> �nterest fra�m �he da�� of disbursement a� the sa�-ne rate assessed on advances under the Contract and shail be
<br /> payable,w��h interes�,upon not�ce from L�nder tfl Borrower request�ng paym�ent.
<br /> 0 20�4-Zd I 3 Campliar��e Systems,�nc.8EB3-3 OEB-2��3L2.O.E 1.712
<br /> Consurr�er Real Estate-Secur�ty I�istrument DL2Q36 Pa�e 2 af S www.carnpIiac�cesyst�Fns.cor�
<br />
|