|
. . ��14���75
<br /> A �icab�e Lav�. As us�d in this Security �ns�rument, the term "Appl�cab�e Lavv" shal� mean all controlling
<br /> PP
<br /> app�icab�e federa�, s�ate and lo�al sta�u�es, regulati��as, ord�nances and admin�strative ru�es and �rders ��ha�ha�e
<br /> �he effect af�avv}as�v��l as a��appl�cable�nal,nan--�ppeala�b�e�udic�al�p�n�ons. �
<br /> Charges; L�ens. B�rrav�er sha�1 pay all taxes, assessmen�s, �harges,, f nes an� impo�itions a�tribu�ab�e ta the
<br /> Proper�.y which may at�ain pri�rity�ver�his Security�nstrument, and �easeh�ld paymen�s or ground ren�s, if any.
<br /> At the reques�of Lender,Borr�vver shall pra�nptly furn�sh to Lender rece��ts ev�den��ng�he paymen�s.
<br /> Borrov�er shall promptly discharge an� l�en which has pri�rity aver this Se�urity�ns�rument un�ess Ba�rr�wer: �a�
<br /> agrees in �vr�t�ng �� �he payment of the ob�igatian secured by �he lien in a manner acceptable �o Lender; �b�
<br /> con�es�s in good fa��h the �ien by, �r defends agains� enforcem�n� of the l�en 1n, 1ega� proceedings ,vcrhich in the
<br /> Lender's opinion �perate to pre�en� the enforcemen� of the �ien; or (c} s�cures firom the ho�der �f�he Iien an
<br /> agreement sa��sfac�ory ta Lender sub�rdina��ng�he l�en.to�his Security Instru�nen�. Yf Lender determ�n�s that any
<br /> pa.rt of th� Propert�y �s subje���� a lien which may attaln pr�flrity a�er�h�s Security �ristrument, L�nder may g�ve
<br /> Borrovsrer a no�i�e identifying the lien. Barrower shall satisfy the lien or ta�e one or more �f the �c�ions se�for�h
<br /> abo�e w�thin 1 a days of the giving of n�tice. �
<br /> Hazard ar Pr�perty Insurance.Borrawer shall keep the�mpr��emen�s n�w exis�ing or hereafter erected nn�he
<br /> Property insured agairist Ioss�y fire,hazards included vvit�iin the�er�m"ex�ended�a�erage" and any other ha�ards,
<br /> inc�uding flaods or f�aod�ng, f�r which Lender requ�res insuran�e. Th�s insurance shali be ma�nta�ned �n �he
<br /> amaunts and f�r the peri�ds that Lender requires. The insurance carrier.pro��ding�he insurance shall�be ch�sen by
<br /> B�rrov�er su�je�t to L�nder's approva� v�rhich sha�l no� �e u�reasonably vvithhe�d. �f Borrov�er fails to ma�n�ain
<br /> c��erage described abo�e, Lender may, at Lender's�ap�x�n, obtain coverage �o prot�c� Lender's righ�s in �he
<br /> Property�n accordance�v�th sectifln ti��ed P'ra�e�tion af Lender's R�gh:ts�n the Prap�r�y.
<br /> AlI insurance palicies and renevs�als shall be ac�ep�able to Lender and:shall znc�ude a s�andard mor�g�ge c�ause.
<br /> Lender sha�l have the right�a ho�d�he palicies and renewals. If Lender:requ.�res,B�rrawer sha1�pr�mptly gi�re�o
<br /> Lend�r a�1 rece�pts of paid premiu�ms and renev�at notices. �n�he event�of Ioss, Borrow�r shal�give prom.pt no�ice
<br /> to the insurance carrier and Lender.Lender ma�ma�e proaf of�oss if no�made promptly by Barrav�rer.
<br /> Unless Lender and Borrowe�- otherw�se agree �n wri�ing, �nsurance proceeds sha�l be applied ta res�oratiQn or
<br /> repair of the Praperfiy damaged, if, in Lender's soi� d�scre��on, the res�arat�on �r repa�r is econa�n�caily fea�ib�e
<br /> and Lender's security is r�ot lessened. Zf, in Lex�derfs sa�e discretion, the restoratinn ar repair is n�� economica���
<br /> feasib�e or Lender's s�curity w�uld be le�sened,the�nsurance proce�ds shall�e app�i�d�a the sums secured by this
<br /> Securi�y Instrument, v�he�h�r or n�t th�n du�, with any excess paid to Borrower. �f Borro�ver abandons the
<br /> Property,or daes nflt answ,er�nr��hin�he num�ber of days pres�r�bed by App�icable Law as set f4rth in a nfl�ice from
<br /> Lender to Borrower�ha��h� insurance carrier has�ffered to sett�e a claim, then Lender may c�ilec��h� insurance
<br /> proceeds. Lender rnay use the proce�ds to repair or restore �he Praperty vr�o pay sums secured by�his Se�urity
<br /> �nstrum�nt,whether�r n���en due.The periad of�ime far Borrovver tai answer as set for�h�n�he r�ot�ce vvill begin
<br /> �hen�he nfl��ce�s giuen. �
<br /> Unless Lender and Borrav�er��her�vise agree �n writing, any app���a�ion of proceeds�a principal sha�l n��extend
<br /> or pos�pone�he due date of�he payments due under�he Contrac�or change the amoun�of�he payments. �f under
<br /> the sec�ivn���led Acee�eration; R�medies, �he Proper-ty is acquired by Lender, Borrov�rer's righ�to any insurance
<br /> p�licies and pr�ceeds resulting frflm damage to �h� Proper� prior tfl the acquis���on sha�l pass to Lender ta the
<br /> exten��f the sums se�ured by th�s Secur��y Irnstrumen�immediately prior�o�he acquisi��on.
<br /> Preservati�n, Main�enance �nd Protect�an of the Property; Barrov►�er's Loan App��ca�ion; Leasehalds.
<br /> Borrower sha�l no�d�s�roy, damage ar impa�r the Proper�y, a11ow�he Property�a de�eriorate, or com.mit wa�te on
<br /> the Praperty. Borrawer sha1�be in default�f any forfeiture ac��on�r proce�ding,whe�her�ivi1�r cr�mina�, is begun
<br /> tha� �n Lender's gaod fa��h j u�dgmen� could resul� in forfe�ture of th� Property vr otherv�is� material�y impair�he
<br /> l�en created by th�s Security Instrumen� or Lender's security in�erest. Borrower m�ay cure such a default and
<br /> reinstate, as pr�vided �n sec��Qn�itled Borrov�er's R�ght ta l�.eirn5tate; by causing t�ie act�fln or proceedi�ng t� �e
<br /> dismissed w��h a ru��ng�ha�,in Lender's go�d faxth determ�nation,precludes forfeiture of�he Borrow�r�s in�eres��n
<br /> the Property flr o�her material irnpairment of�he l�en crea�ed by �h�s Securifiy �nstrumen� or Lender's security
<br /> in�erest.Borrower sha��alsa be i�n defau��if�Borrav�er,dur�ng the loan appl�ca�i�n process,gave material�y fa�se�r
<br /> irnac�ura�e informat�on or sta�emen�s �fl Lender (or failed t� �ra�ide �Lender with any mater�a� informa��on} in
<br /> c�nnec�ion with the ��an e�idenced by�he �ontra�t. If this Security Instrum�n� �s on a leaseh��d, Borrov�er sha�l
<br /> cornp�y vvi�h a�l the pr��is�ons of�he lease. �f Borrov�er acquires fee tit�e�a�he�Property,the Ieasehold and�he fee
<br /> �itle shal�nat merge unless Lender agrees�o�he merger in writing. ;
<br /> Pr�tect�on vf L�r�der's Rights in �he Pruper�y. If �orrovc�er fa��s �o perform the cavenan�s and agreements
<br /> contairied in�h�s Security�ns�.rument, or there �s a�ega�proeeed�ng�ha�n�ay s�gn�f�can�Iy affec�Lend�r's rights �n
<br /> the Properfiy �such as a praceeding �n bankrup�cy, pr�bate, f�r condemna�ion ar forfeiture or to enfvrce �a�vs ar
<br /> regulat�ons}, then Lender may do and pay for wha�e�er is necessary;t� protec� �he vaiue of�he Prap�rt� and
<br /> Lender's righ�s in�he Property. Lender's acti�ns may include paying any sums se�ured by a lien v�h�ch has priarity
<br /> over this Secur��.y�nstrument, appea�ing in cour�,paying reas�nab�e at�orneys'fees and enter�ng on the Property to ,
<br /> make repa�rs.A�though Lender may take action under th�s sec���n,Lender does nflt have�a do sa.
<br /> Any amounts dxsbursed by Lender under �his sect�on sha�l become a�d��ional deb� �f�3arr�v�er secured by this
<br /> :
<br /> Secur��ty Instrument. UnX�ss Borrov�er and Lender agree to other �erms of paymen�, these am�un�s shall bear
<br /> xnter�s� from �he da�e of disbursemen� at the same rate assessed �n �dvan�es under �he C�ntrac� and shall be
<br /> ,
<br /> payable,wi�h in��rest,upon n���ce fram Lender��Borr�wer request�ng�payrn�nt.
<br /> C�7 2a�4-2a 13 Ca�p�iar��e Systems,Inc.SES3-DE85-2�13L2.fl,E 1.71�
<br /> Cans�mer Real Estate-Security Inscrumer��DL2d3d Pa�e 2 of S ' w►,vw,camp�iancesystems.c�rn
<br />
|