� ��14���45
<br /> App�icable Law. As us�d �n this Security Instrument, �he term "Applicable Law" sha�� mean aIl contro��ing
<br /> appl�cable federal, state and local sta�utes, r�gulations, ordinances and adminxstra���e rul�s and orders ��hat have
<br /> t�e effect of law�as well as a1I applicable fna.I,non�appealabl�jud�c�ai op�nians.
<br /> Charges; L�ens. Borrawer sha�� pay a�� taxes, assessmen�s, charges, fin�s and impos�t�ons at�ibu�able �o the
<br /> P�oper�y which may a�tain priori�y o�er fihis �ecurity�nstrument, and�easeho�d paym�n�s ar groux�d rents, �f any.
<br /> At the reques�of Lender,BorroWer shal�promp�ly fi�rnish�o Lender receipts e�idenczng the paymen�s.
<br /> Borrower sha��promptly d�scharge any lien tivhich has przority over�his Security Instrument unless BorraWer: �a}
<br /> agrees in �r�ting �o �he paymen� of�he flb��gat�fln secured by �he lxen �n a manner accep�able ta Lender; �b}
<br /> contests in g�ad faith the lien by, or defend� against enforcemen� flf the l�en ir�, legal proceed�ngs v�hi�h �n �he
<br /> L�nder's opin�on aperate �o pre�en� the enfarcem.ent of�he lien; or �c} secures from �he h��d�r of�he Iien an
<br /> agreement sa�isfac�ory to Lender subordina�ing the ��en t��his Security �nstrumen�. If Lender determines�hat any
<br /> part�f�he Proper�y is sub��c��o a lien whi�h may a�tazn prior�t� over this Security Ins�rumen�, Lender may gi��
<br /> Borrower a not�ce iden�ifying the 1ien. Borrovver sha�l sa�isfy�he �ien ar�ake �n� �r more of the actions set forth
<br /> above within ��days af the giving af natice.
<br /> Hazard or Property Insurance. Borrower shall ke�p the improvements n��v exrs�ing ar hereafter ere��ed�n the
<br /> P�oper�y insured agains�loss�y f re,hazards inc�uded within the�erm"ex�ended�o�erage" and any other hazards,
<br /> inc�uding flo�ds or flooding, for vvh�ch Lender requires insuran�e. This �nsurance shal� be ma�n�ained in the
<br /> amoun�s and for the per�o�s tha�L�nder requ�res. The insurance carrier pro�iding the insurance shall be chQsen by
<br /> B orr�wer sub�ect to Lender's appro�al vvhich shal� na� be unreasonab�y wi�hh��d. If Barravver fai�s �o mainta�n
<br /> co�erage described above, Lender may, at Lender's flp��on, o�tain cov�rage �o pratect Lender's rights in the
<br /> Proper�y in a�cordance vc�ith sectivn�i�l�d Pratectaon af Lender's Rights in�he Property.
<br /> A1� insurance pa�icies and renev�a�s shal� be acc�pta��� to Lend�r and shall include a s�andard mor�gage c�ause.
<br /> L�nder sha�I ha�e the r�gh�to hold the po1���es and ren�wa�s. �f Lender requ�res, BorrovWer shal�pr�mptly give�a
<br /> L�nd�r a��receipts flf paid pr�miu.m.s and r�n�wal no�ices. �n�he e�ent�f Ioss, Borrower sha�1 g��e prompt notxce
<br /> to th�insurance carrier and Lend�r.Lender may ma�e proof of lflss�f not made promptly by Borrower.
<br /> Un�ess Lender and Borrawer otherv�ise agr�e i.n �vr�ting, insuran�e proceeds sha�� �e applied �o r�storat�on or
<br /> repair of the Proper�y damaged, if, in Lender's sale drscr���on, the res�orat�on or repair �s economica�ly feasi�le
<br /> and �ender's securi�y is no� I�ssened. �f, in I�ender's sflle d�scretion, �he res�oration �r repair is not economically
<br /> feas�b�e or Lend�r's securxty�auld�e��ssened,the insurance pr�ceeds shall be appl�ed to�he surr�s secured b�this
<br /> S�curi�y Instrum�n�, wh��her or not then due, v�ith any exc�ss paid to Borrov��r. �f Borr��er abandans the
<br /> P�•op�r�y,�r does not answer within�he numb�r of days prescribed by Applicable Lav�as set for���n a n�tice from
<br /> L�nder�o Borrower�ha��he �nsurance carr�er has offered to set�1� a claim,then L�nder may co�l����h� insurance
<br /> �]�'�C��C�S. L�nder may use �he proceeds to repaxr or res�are �he Proper�y or�o pa� sums secured by�his Security
<br /> Instrumen�,whether vr n�fi�hen due.The per�od of time for Borrovver�o ansvver as set for�h in the notice W���begin
<br /> w�er��he notxce is gi�en.
<br /> Unless Lender and Borrov�er o�herwise agree in v�riting, any appl�ca�ion of pro�eeds to princxpa� shall no�extend
<br /> or postpone�he due date of the payments due under the �antract�r change the amoun�of�he payments. If under
<br /> the s�c�ion t�t�ed Ac�e�erat�on; Remedies, th.e Prflper�y is acquired by Lender, Borrower's right to any uasurance
<br /> p�lic�es and proceeds result�ng from damage ta �he Froper�y prinr to the a�quisition sha�� pass �o Lender �a �he
<br /> e�ter�t af�he sums secured by�h�s Security�nstru.ment immed�ately prior ta the a�quisi��on.
<br /> P��es�rvation, Ma�ntenance and Prot�ct�o� of the Prflperty; Borrower's Lflan Applicatfo�; Leaseholds,
<br /> B�rr�wer shall nat destro�, damage �r impair°the Property, allovv the Proper�y�o de�eriora�e, or commit was�e on
<br /> �he Property.Borrower shall be in defaul�if any farfeiture ac��on ar proceed�ng,whe�her civi�or�r�minal, is begun
<br /> �hat in Lender's good faith judgment cou�d r�sult �n f�rfeiture flf the Property or othe�-v�ise ma�erial�y impaxr�he
<br /> l��n �rea�ed b� this Securi�y Instrumen� or Lender's security int�rest. Borro��r may cure such a defau�� and
<br /> reins�a�e, as pravided zn section t�t�ed Bflrrower's Right to Reinstate, by caus�ng the actxon or proce�d�ng�o be
<br /> d�sm�ssed�ith a ru�i_x�.g�ha�, xn Lender's good fai�h de�erm�natzan,prec�udes forfeiture vf�he B�rro�er's in��r�st�n
<br /> �h� Proper�y or other ma�eria� �mpairm�nt of�he ��en crea��d by �his Secur��y Instrumen� or Lenderts secur�ty
<br /> �n�eres�.Borrower shall also b�in defau�t�f B�rra��r,during�he��an applica�ian pr�cess,ga�e ma�eria��y false or
<br /> �na.c�ura�e inforrna��on or s�atemen�s �o Lender �or fa�led to pr��ide Lender with any ma�erial �nfar�mation� in
<br /> c�nn�ct�on vv�th�he Ioan ev�denced�y the �flntrac�. �f�h�s Se�urity �nstrumen� �s an a leaseh��d, Barrower sha�I
<br /> c�mply wr�h aiI the provisions of�he l�ase. rf Borrov�er acquires fee��tle�o the Prflper�y,�he leaseho�d and th�fee
<br /> title�hall not merge unXess Lender agrees ta the merger in writing.
<br /> Prflt�ctian of Lend�r's Rights in �he Proper�y. If Borrower fai�s to perform th.e covenants a.nd agreements
<br /> con�a�ned in�h�s Securi�y znstrument, or�here is a�egal proceeding that may szgnrf�an��y affec�Lender's rxgh�s �n
<br /> th� Property �such as a proceedYng in bankrupt�y, proba�e, for �ondemna�ron tir forfe�ture or to �nfor�e laws ar
<br /> re�ul�tions), then Lender may da and pay f+�r whate�er is necessary �a prote�t the �a�ue of th� Praperty and
<br /> Lend�r's rzgh�s in the Pr�perty, Lender's actions may�nc�ude pay�ng any sums se�ured by a l�en which has priori�y
<br /> o��r th�s Secur��y�ns�rument, appearing in cour�, paying reasonable attorr�eys'fees and�n�ering�n�he Property�o
<br /> make r�pairs.A�though Lender may take ac�ion under this se�tifln,Lender daes not ha�e�fl do so.
<br /> Any amaun�s disbursed by Lender under this section shall become additiona� debt af Borrower secured by this
<br /> Security �ns�rumen�. Unless B�rro�nrer and I�ender agr�e t� �ther terms flf payrnent, �hese am�unts shall bear
<br /> �nter�st from �he date af disburs�merit a�t �h� same rate assessed an advances under �h� �ontra�t and sha�l be
<br /> paya��e,wzth interes�,upon n��ice firam Lender�o Borrower requestin�payment.
<br /> �2q�4-2013 Corr�pliance Systems,Inc.9Fg5-BIED-24I3L2.4.721
<br /> Cansumer ReaI Estate-Security TnstrumenE DL2a3d Page 2 af S www.complianc�systems.�vm
<br />
|