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��14��937
<br /> A licable Lavv. As used �n th�s Security �ns�run7ent, �he �erm "A�plicable La�v" sha�l mean a�l control�ing
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<br /> app�i�able federal, sta�e and lo�a1 statu�es, regulati�ns, ardinances and admiriistrati�e rules and �rders ��hat have
<br /> the effect of 1aw)as vWell as al�applicable f�n�l,non--appea�ab�e judicial ap�nl�ns.
<br /> Charg�s; Liens. Barrov�er sha�l pay al� �axes, assess�en�s, charges,; fines and impositi�ns attributab�e to the
<br /> Proper�y which may attain pr��rity over�his Security �ns�rument, and �easehald�ayments ar ground rents, if any.
<br /> A�the request of Lender,B�rrower sha�l pr�mptly furnish�o Lender receip�s ev�dencing the paymen�s.
<br /> Borrower sha11 prvrnptly dis�harge any lien which has priflr��y over this S�cur�ty�nstrumen�unless Bvrrovsrer: �a}
<br /> agrees in writing tQ ihe paymen� of the obligation secured by �he 1�en �n a manner accep�able to I�ender; �b}
<br /> contests in gaad faith �he lien by, nr defends aga�ns� enforcement Qf the l�en in, lega� proceedings which �n �he
<br /> Lender's �pxnion �perate t� pre�ent �he enfflrcement nf�he lien; or �c} secures from the ho�der Qf the �ien an
<br /> agreement sat�sfactary to Lender sub�rdina�ing�he lien�o th�s Security�nstrumen�. If Le�der determ�nes that an�
<br /> part of the Property �s subj eC.�tv a lien v�hich may a�ta�priority flver thls Se�ur�ty �nstrumen�, Lender m�.ay g�ve
<br /> B�rr�w�r a no�ice �dentifying�h� lien. Borr�v�er sha�� sa�isfy the I�en flr tal�e one ar m�re�f�he ac�ians set f�r�h
<br /> abflve v�ithin 1�days of the giving of ri�tice.
<br /> Hazard �r Prv ert Insurance. Borr�wer sha�l keep�he im�ro�ements no�v e��st�ng or hereafter erected on the
<br /> p Y
<br /> Praper�insu.red aga�ns�loss�y fire,hazards included wi�hin the�erm"e�tended coverage" and any oth�r hazards,
<br /> in�iuding floads �r flo�d�ng, far �vhich Lender requires insurance. Th�s �nsurance shal� be maintained �n the
<br /> amounts and far the periods�ha�t Lender requ�res. The�nsurance carrler provlding the insurance sha�l he chosen by
<br /> Borrow�r sub�ect �a Lender's appro�al which sha�l �ot be u�nreasanably wi�hheld. �f B4rr�wer faiis ��o ma�ntain
<br /> coverage described above, Lender may, �.t Lender's �ption, obta�n c��erage �� pr�tec� Lender's ri�hts in the
<br /> Proper�ty�n accordance with sec�i�n ti�Ied Pr�te�tion of L�nder's R�ghts�n the Prap�r�y.
<br /> A11 �nsurance po�icies and renev�a�s shall b� accep�able �o Lender and�sha�l inc�ude a standard m�r�gage clause.
<br /> Lender shal�ha�re�he right�o h�ld the po�i�i�s and rene�rals. �f Lender�requ�res, B�rrov�er shall pramptly gi�e t�
<br /> Lender al�receip�s�f pa�d pr�m�ums arid renewa�n�t�ces. �n the e�ent of 1oss, Borrower shall gi�re pro�npt natice
<br /> to the insurance carrier and Lender.Lender may make pr�af�f loss if not made promptly b�B�rrower.
<br /> Un�ess Lender and Borrower otherw�se agree in v�rit�rig, insurance proceeds sha]� be appl�ed to restora�ion or
<br /> repair �f�he Praperry damaged, �f, in Lender's so�e discretion, �he restorati�n or repair is ec�nomica�ly feas�ble
<br /> and Lender's s�curi�ty� is not lessened. If, �n Lender's sole discre�ion, the res�ora�i�n or repair is no� ecanomica�ly
<br /> feasible flr Lender's security vW�u�d be lessened,the insurance proce�ds sha�l be app�ied�o the sums secured by�his
<br /> Secur��y �nstrument, whether or not then due, with any ex��ss pa�d ta Borrower. �f Borrawer ab�ndans the
<br /> Proper�y,or does not ans�ver with�n the nu�ber�f days prescr�bed l�y App�ica�le Law as set farth in a not�ce from
<br /> L�nder t� Borrower�ha��he �nsurance carrier has offered t� set��e a claim, �hen Len der m.ay�o l�ect�h� insurance
<br /> pr�ceeds. .Lender may use the pr�ceeds �fl repair or restore �he Property or�o pay sums se�ured�y �his Security
<br /> Instrument,whether or na��hen due.Th�per�od�f time f�r BorrnvWer�a answ�r as set fflrth�n the notice vv��l begin
<br /> v�rhen�he notic�is g�ven.
<br /> Unless Lender and Barr�v�er�th�rwise agree in wri��ng, any appl�ca�ion vf proceeds��principal sha1�n�t extend
<br /> ar pos�pone the due da�e �f the pay�n�nts due under the �ontrac�or change�he amount af the payments. �f under
<br /> the section t���ed Acce�era��on; R.�medi�s, the Proper�y �s acquired�y Lender, �3�rr�wer's right to any �nsurance
<br /> po�icies and praceeds r�sulting fram damag� �o the Property pr�Qr�a �he acquisi�ian shall pass �a Lender �a �he
<br /> exten�❑f the sums secured by this Se�urit�Instrument imrnediately prior to�he acquisiti�n.
<br /> Preser�ation, Maintenanc� and Protec�ion ❑f �he Property; �orrower's Loan App�ication; Leaseholds.
<br /> Sarr��er shal�no�destroy, damage or impair�he P�-oper�, a11aw�he Property to deteriora�e, or commit was�e on
<br /> �he Proper�y.Borr���r shall be in default�f any forfeiture a��:�an�r pr�ceed�ng,vvh��her ci���or criminal,is begun
<br /> tha� in Lender's good fai�h judgment c�uld result i� forfe��ure Qf�he Property or otherwise materia�ly ��mpair�he
<br /> Iien created by �his Security �nsl:rumen� �r Lender's se�uri�y in�erest. Borr�v�er m�ay cure such a defaul� and
<br /> reins�a��, as pravided in section�i��ed Borrowe�r's Right to I�einstate, by causing�he ac�ian or pr��eeding to be
<br /> dismzssed vvith a rulit�g that, in Lender's good fai�th de�ermina��an,precludes forfeiture�f�he Borro�er's interes�in
<br /> the Property or other ma�erial impairmeri� af the �ien crea�ed by this Secur��y �nstrumen� �r Lender's s�curi�y
<br /> interest.Borrovver shall als�be in default if Borrower,during�he�oan appl�cation pr��ess,gave mater�all�false or
<br /> xnaccurate infarma��on or s�atemen�s t� Lender ��r fai�ed t� pravide Lender with any ma�erial �nfvrma�ian} �n
<br /> connec���n with the ��an evidenced by�he Contract. �f th�s Se�ur��y 7ns�rumen� is �n a�eas�ho�d, Borr�wer shal�
<br /> camply w�th all�he pruv�s�ons of the�eas�. If Borrovver acquires fee�it�e��the Praperty,�he leasehold and the fee
<br /> tii:le sha�l no�n�erge unless Lender agrees���he merger�n v�ri�ing.
<br /> Pra�ecti�n of Lender's Rights in the Prop�r�y. If�3orrov�er fai�s t� perform �he co�enants and agreemen�s
<br /> con�a�ned�n this Securi�y Instrumerit, or there is a lega�proceed�ng�ha�may sigmificantly affect Lend�r's r�ghts in
<br /> the Pr�pert� �such as a pr�ceed��g in banlirup�cy, prQ�ate, for c�ndemna��on ar forfe�ture or�o enforce laws ar
<br /> regulations}, then Lender may do and �ay far wha�ever �s necessary tn pra�ect �he �a�ue �f�he P�operfiy and
<br /> Lender's righ�s in the Praper�y.Lender's a����ns may include paying any sums se�ured by a�ien which has pr�ority
<br /> a�er�his Security�ns�rumen�,appear�ng�n c�urt,pay�ng reas�nab�e at�orneys'fees and ent�r�ng�n the Proper�y�o
<br /> rnake repairs.Al�hough Lender may�ake action under�his secti�n,Lender does nat have�o d�sv.
<br /> Any amflunts disbursed by Lende�-under th�s sec�i�n shal� became add�tiona� debt of Bflrrower sec��red by this
<br /> Security �nstrument. Uniess B�rrower and Lend�r agree �o ���er terms of pa�ment, �hese am�unt� shall bear
<br /> interes� from �he date �f disbursement a� �he same ra�e assessed o�a advances under the �ontract and sha�l be
<br /> payable,with�n�erest,up�n notice firom Lender�o Borrower reques�irig paymen�.
<br /> �2��4-24]3 Compliance Sys�ems,Inc.9Fg5-B949-2��3�..2.0.721
<br /> Consiiiner Real Estate-Security Instrument DL2035 Pa�e 2 of 5 www.carnplian�esystems.corn
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