��14�5357
<br /> ,r�ppli�ab�e Lav�. As used i�n th�s Securit� Instrumen�, the �erm "Applicable Lav�" shali mean a1� cvn�rolling
<br /> app�icab�e fe�era�, s�a�e and l�ca1 statu�es, regula��ons, ordir�ances and ad�nin�stra��ve ru�es and o�-ders �that hav�
<br /> �he�ffe��of lav��as we�1 as al1 applicable f�na�,nonTappea�ab�e judic�a��p�n�a�s.
<br /> �harges; ]L�ens. Borrower sha�� pay al� �ax�s, assessments, charges, fin.es and impositions attributable tfl the
<br /> Prop�r�y which rnay attain pr�ari�y over�his S�curi�ty Instrument, an�.leaseho�d paymen�s ar ground ren�s, if any.
<br /> .�t�he reques��f Lender,Borrav�rer sha�1 pronlp�ly furnish�a]Lender recexp�s��v�den��ng�he paymen�s.
<br /> I3�rrvvver sha�l prornptly dis�harge any lien w�ai�h has priar�ty over this Se�urity�ns�rumen�unless Bar�-�vver: �a}
<br /> agrees in wri�ing t� the payment �f#he a��i�ation secured �y �he �ien 1n a. manner accep�a�le to Lender; �b}
<br /> �or��es�s �.n go�d faith the lien by, or defends aga�ns� enforcement of�he �ien �n, legal pr��eedings wh.ich in the
<br /> Lemder's opinion operate �o preven� the enfarc�m�nt �f�he 1�en; or �c} secures firom the halder of the lien an
<br /> agreemen�sa�isfac��ry�o Lender subordinatin�the Xien to�khis Se�urity�ns�ment. �f Lender determines�ha�any
<br /> pa�-�af�he Proper�y is sub�ect�o a l�en which may attain pr�ority o�er�h1s Security�nstrument, Lender may give
<br /> B�rr�v�er a notice ident�fying the lien. Borr�v�rer sha�1 sa��sf��he �ien Qr�ake one or mflr� af the �c�i�ns set forth
<br /> ab�ve wi�hin 1�days of the gi�ing of notice.
<br /> H�zard or Property Insurance. �orrower s��al�keep the improvements nov�exist�ng ar her�after erected�n�he
<br /> Pr�aper�y insured against i�ss by f re,ha�ards i��cluded v���hin the�erm"ex�ended c�verage"and any oth�r hazards,
<br /> �ncluding flv�ds or fload�ng, for v�hi�h Lender requires insurance. Th1s lnsurance shall be ma�n�ained in the
<br /> am�unts and for�he per�ods tha�Lender r��uires.The�nsuran�e carr�er pro��ding�he insurance sha��be chosen b�
<br /> Borr�wer sub�ect to Lender's approva� v�hich sha�l n�� be unreasonably wi�hhe�d. I�Borro�ver fails �o main�ain
<br /> coverage described abo�e, Lender may, a� �.�ender's �p��on, obtain ca�erage to pr�tect Lender's r�ghts in the
<br /> Pr�perty�n a�cardance w�th s,ection tit�ed Prol.ectian of Lender's Rights in the Prnperty.
<br /> Al� insurance p�I�cies and renewals sha11 be acceptab�e �� Lender and sha1l in�lude a stan�ard m�rtgage clause.
<br /> L�nder sha�I ha��the right to h�ld the po�icie�and renevvals. �f L�nder requ�res,Borrower sha��prvmp�ly gi�e ta
<br /> L�nd�r a�l r��eip�s of pa�d prem�ums and renewa�notiGes. �n�he ev�nt flf�oss, I3orrawer shal�gi�e promp�notice
<br /> �o the insurance carr�er and L�nder.Lender rn.�iy make proof af�oss if n��made pr�mptly by Borr�wer.
<br /> Iln�ess Lender and Barrower Q�herv�ise agre� in writing, insurance proceeds shal� be appl�ed �o res�ora��an �r
<br /> r�pair of�he Praperty damaged, �f, in Lender�'s sole dis�retion, the res�oration ar repair is e�anomically feasib�e
<br /> anc�Lender's se�ur��y is not�essened. �f, in L�nder`s sa�e dis�reti�n, the res��ration or repair is nat econ�m�cal�y
<br /> feasibl��r Lender's secur��y v�rould be lessened,the�n�uranGe pr��eeds sha11 be appl�ed to the sums secured by this
<br /> �ecuri�ty �nstru�nen�, whether or not then dl�e, with any excess pa�d �o Borrov��r. �f Borrawer abandons �he
<br /> Pr�perry,�r do�s no�ansvver vvi�h�n the nu�nb�r of days prescribed by Applicable Law as set for�h in a no���e firom
<br /> Lender to Barrav�er tha�the �nsurance carrier has �ffer�d ta settl.e a claun,�hen Lender may co�Ie���h� insurance
<br /> pr�cee�s. Lender may use the praceeds to re�pair or res�ore�he Prapert� or�o pa� sums se�ured by this Se�urity
<br /> Instru�nent,v�rhether�r not�hen due.The p�riad�f�i�ne for Borr�v�rer t�answer as se�forth�n�he n�tice v���1 beg�n
<br /> �r�hen�he not�ce is given. .
<br /> U��ess Lender and Borra�er ather�vise agree in wri�ing, any appl�ca�i�n af proceeds�o princ�pal shall not e��end
<br /> �r postpone�he due da�e�f the paymen�s due under th��ontrac�vr�hange�he amount�f�he paymen�s. �f under
<br /> �he sectxon�it�ed A�celeratian; Remedies, t�.e Frvpe�y is acquired by Lender, Borr�wer's r�ght�� any insurance
<br /> pc�l�cies a.nd pruc�eds resul�ing fr�m damage �� the Properry prior�a �he acquis�tion shaXl pass to L�nder�� the
<br /> e�tent of the su�ns secured�y�his Secur�ty In�trument irnmedlately prlor ta�he acquYsit�an.
<br /> P�reservatian, �Iaintenance ar�d Protectio�r� Qf the Pr���rty; Borr�wer's Loan Appl��at�on; Leaseholds.
<br /> Bvrr�wer sha�l no�des�rfly, damage or impa�r the Pr�perty, a��ow the Proper�y to deter�Qra��, or��mmit waste fln
<br /> �he�rope�-ty.Borrower sha��be in defaul�if a�2y forfe�ture a�t�on�r pr�ceeding,,whe�h�r�ivi�ar cri�.��a1,is begun
<br /> that in Lender's good faith�udgment �ould resu�� �n farfeiture of�he Proper�y or fltherwise mater�a�Xy impair�he
<br /> ���� �reated by �his Security �ns�rument or Lender's se�urity �nterest. Sorr�v�er may �ure such a default and
<br /> r�ins�a��, as pro�ided�n sec��on titled B�rrn�ver'�Right t� Re�nstate, by caus�ng�he ac��on ar pr�ce�d��ng ta be
<br /> d�smissed v�ri�h a ru��ng that, �n Lender's goad fax�h de�er�nina��on,precludes forfeitu.re of�he Borrov�rer's in�erest in
<br /> ��e Pro�er�y or o�her rnateria� impa�r�ment ��f�he lien crea��d by this Se�ur��y Instru�ment flr L�nder's security
<br /> ir��eres�.Borro�nrer shall a�so be in default if Borr�v�rer,during the�oan appii�a�ifln pr�cess,gave ma�er��lly false or
<br /> �naccura�e �nf�rmat��n vr stat�ments ta Lender ��r failed to provide Lend�� �rith any mater�al informa�ion} in
<br /> connect�on with�he �aan �videnced by�he �r�ntract. rf this Security�nstrument�s on a leaseho�d, B�rra��r sha�l
<br /> c�mply w��h a11 the provis��ns of the lease.�f Borrflwer a�quires fee t��ie�o�he Pro�er�y,the Ieasehald and the fee
<br /> ti��e sha1�nat merge unless Lender agrees t�t�xe merger in wri��ng.
<br /> Pratection vf L�nder's Rights in the Pra�per�y. If Borrovver fa�ls to perfarrn �he covenan�s and agreemen�s
<br /> conta�ned in this Security�nstrumen�, �r�here is a lega�proceed�ng�hat may signif can��y affe��Lender's r�ghts in.
<br /> the Property �such as a proceeding �n bankrup�cy, probate, for candemna��on ar forfeiture �r�o enforc� �av�s �r
<br /> regulation�}, �hen Lender may do and pay �Eor wha�ever i� ne�essary to �rotec� the �aiue af�he Property and
<br /> Lender's righ�s in�he Pr�per�y. Lender's act�ons may include paying any surrns secured by a lien vsrhich has priority
<br /> a�er this Secur��y�nstrumen�, appearing�ri cc�urt,paying reasonable at�or�eys'fees and en�ering on the Pr�perty�o
<br /> make repairs.A�thaugh Lender may�ake act��n under th�s sec�i�n,Lender d�es no�ha�re t�do sa.
<br /> A.ny amoun�s dis�ursed �y Lender under �his se��ion shall bec�m.e additioma� debt of Borrovver secured by this
<br /> Security �nstrumen�. Un�ess Barrower and ]Lender agree �o o�her �erms af payment, these amaun�s sha�l bear
<br /> in�erest frorn. the date af disbursement at the same rate assessed an ad�ran�es under �he �on�rac� and sha�� be
<br /> p�yab�e,v��th�nteres�,up�n n�tice from Lender to Barrower request��g payn�en�.
<br /> C�2404-20I3 Compliance Systems,�nc.9F96-8464-24I3LZ.�.721
<br /> Cansumer Real Estate-Se�urity Instrument�7L2�3d Page 2 of 5 www.campliancesystems.cvm
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