|
��14���91
<br /> Applicabie L�w. As used in thzs Securxty �nstrumen�, th� �erm "Applicab�e Law" shall mean aI� cantrall�ng
<br /> applicab�� f�d�ral, s�ate and �ocal statut�s, re�gulations, ordinances and adm�nistra�ive rules and orders �tha�haWe
<br /> the effect of�a�w}as v�e��as aIl applicable final,non-appealab���udicial opin�ons.
<br /> Charges; Liems. Sarrov�er sha11 pay al� �a�es, assessments, �harges, fines and �mpositian� at�r�butable to the
<br /> Property whi�h may a�tain pr��rity aver�his Secur�ty �nstrumen�, and�easehold payrnen�s ar�raund r�nts, if any.
<br /> At the r�qu�st of Lender,Borrow�r shall pror.�ptl�furn�sh to Lender receip�s e�idencing the paymen�s.
<br /> �orrower shal�promptly discharge any lien�Nhich has priority over th�s Secur�ty Instrum�nt un�ess Borr�wer: �a�
<br /> agrees in writ�ng to �he paym�n� flf�he obl�xga�ion secured by the Iien in a m.anner a�cep�ab�e �o �ender; �b�
<br /> c�n�es�s in good faith the ���n by, or defends agains� enforcement of th� �ien in, �egal pro�eedings v�hich in the
<br /> Lender's apin�on operate �o prevent the enf�rcemen� of the �ien; or �c� secures from the h��der of�he �xen an
<br /> agreement satisfactory to Lender subordi.t��.�i;�g�he lie�to this Sec�.rity�nstrument. �f L�nder determines that any
<br /> part flf�he Pr�perty is subject to a ��en�hich may at�ain priority a�er this Secur�ty �nstrumen�, Lender may give
<br /> �arrower a nfl�ice identifying�he Ii�n. Borr4wer shall satisfy the lien or�ake one ar more af the actions set for�h
<br /> above vvi�h�n T�days of�he gi�ing of notice.
<br /> I�azard ar Prflp�rty Insurance. Borrower Chall keep the impro�emen�s now exis�ing or hereafter erec�ed an�he
<br /> Property insur�d agair�s��nss by f re,hazards in�luded wi�hin the�erm "extended cvverage" and any other hazards,
<br /> including flaods ar flooding, for which Le�lder requ�res insurance. This insurance shall �e main�a�ned ua �he
<br /> arnounts and for the per�ods�hat Lend�r requires. The insurance carrier provid�a.g the insurance sha�l l�e chosen by
<br /> Borrow�r subj ect �o Lender's approva� wh�ch shal� not be unreasonab�y withhe�d. If Borrov�er fails �o ma�ntain
<br /> c�verage desc�ibed above, Lender may, a� Lender's apt��n, ab��.in c�verage to prntect Lender's r�gh�s �n the
<br /> Praperty in ac�ordance wi�h se�tian titled Protection af Lender's Rights in the Prvperty.
<br /> Al� insurance poli�ies and renewals shall be a�ceptable to Lender and sha�l inc�ude a s�andard mar�gage �c�ause.
<br /> Len�er sha�l ha�e the right to ho�d�he polici�s and renewals. If Lender requixes, Borrawer shall promp�ly give fo
<br /> Lender all re�e�pts of paid premxums and renev�a�no��ces. �n the e�en�of�oss, Borrower shall gi�e prompt no��ce
<br /> �o the insuran���arr�er and Lender.Lender m�ay make proof of loss if nat mad�promp�ly by B�rr��er.
<br /> Unless Lender and Borrower otherwis� agr�e �n v�ri�ing, rnsurance proceeds shall be appl�ed ta rest�ra��an or
<br /> repa�r of�h.e �roperty damaged, if, in Lender's so�e discre�ion, �he res�oratian ar repair �s eGflnomica�Iy feasi�le
<br /> and Lender's s�curity is no� �essened. Yf, �n Lender's sole d�scre�ion, the re��ora�ion �r repair is not ec�n�mically
<br /> feasible or Lender's s�cur��y would be�essemed,�he xnsurance proceeds sha��be applied�a�he sums secured by�h�s
<br /> S�curi� rnstr�men�, whe�h�r or nat then due, �v��h any excess paid to Borrov�er. �f Borravver abandons the
<br /> Property, or does not answer v�i�h�n the numb�r of days prescri�ed�by Applicable Law as set far�h in a no��ce fram
<br /> Lender to Borrov�er that the �nsurance �arr�er has �ffered to sett�e a c�aim, then Lender may co�Ie��th� insurance
<br /> p�o�eeds. Lender may use the pro�eeds �� r�pa�r or r�store th� Properry or to pay sums secured by this �ecurifiy
<br /> Instrument,wh�th�r�r not�he�due.The per�+�d af t�me for Borrower to answer as set forth in�he not�c�wi1l begin
<br /> when the na�Y���s gi�en.
<br /> Un�ess Lender and Borro��r o�herwise agree in wri��ng, any applicat�on of proceeds�o przncipal shal�not ex�end
<br /> or postpone th� due da�e of the payments �.ue under the C�ntrac�or change the amount of�he payments. �f und�r
<br /> the seC��on���Ied Acce�eration; Remedie5, the Properry zs acquired by Lender, Borrflvtrer's right�a any i.nsurance
<br /> po�icies and pro�eeds resul�ing from darnage to �he Proper�y priar to �he acquisi�ion shal� pass �� Le�zder to the
<br /> �xtent af the sums secured by this Se�urity�n��rument i�mmediately priflr to the acqu�sit�an.
<br /> Preser�ation, Maintenan�e and Pro�ection of the Property; Sorrower's Loan Applicat�on; L�aseholds.
<br /> Borrower sha��not destroy, damage or impa���the Property, al�ow�he Praperry�o de��riorate, or cammrt�vaste on
<br /> �he Praperfiy.Borrow�r shall�e�n default�f a�.y forfeitu�re ac��on ar pro�eeding,whe�her��v��or�rimina�,zs begun
<br /> that in Lender'� good fai�h judgmen� cauld r�su�� in forfe�ture of the Property or o�h�rwise materially impa�r�he
<br /> �i�n created b� this Securi�y �nstrum�n� or L�nder's securxty interest. Barrower may cure such a defau�t and
<br /> reinsta�e, as pr�vide�in section txtled Borror�ver's Righ# to Re�nstate, by causing the ac��on�r proce�ding to be
<br /> � dismissed v���h a ru��ing�hat, �n Lender's ga�d faith de�ermina�ion,precludes farfei�ure af the Barr�wer'�in�eres�zn
<br /> the Proper�y or other material impairment o�f the Ii�� created by this Securi�y �nstrument or Lender's security
<br /> interest. B�rrower shai�a�so be in default�f Borrflwer,during�h�Iaan applica�ion process,gave ma�eriai�y false or
<br /> �naccurate rnformation flr statemen�s to Lend�r �or fa�led �o provide Lender with any ma�erxal informa�zan} in
<br /> connec�ion�i�h the �oan e��denced by�he ��ntract. If this Secur��y Ins�rurnent �s on a l�asehold, Borrower shall
<br /> comp�y wi�h a���he pro�is�ons of the lease. �f Borrov�er acquires f�e titl�to the Property,the l�asehald and�he fee
<br /> ti�Ie shal�nat m.erge un�ess Lender agrees ta the merger�n writ�ng.
<br /> Protect�on of Lender's Right� in �h� Prfl��er�y. If Borrawer fails to perform the �ovenan�s and agreem�n�s
<br /> con�a�ned in th�s Securi�y rnstrumen�, or�h�re�is a legal pro�eeding that may significant�y affe�t Lender's rights in
<br /> the Properry �such as a pr�c�eding in �arikru�ptcy, probate, for candemna�ifln or forfeiture ar to enforce �aws or
<br /> regula�ions�, �hen Lend�r may do and pay f�r whatev�r is necessary to pro�ec� the va�ue of the Prop�rty and
<br /> Lender's righ�s in th�Proper�y. Lend�r's actioras may include paying any sums secured by a li�n which has priar�fiy
<br /> �ver�his Secur�ty�nstrumen�, appear�ng in c�ur�,pay�ng reasonabl�at�arneys'fees and enterin��n�he Property to
<br /> �nake repairs.Although Lender may�ak�ac�io�n under this section,Lender da�s not have to do so.
<br /> Ar�y amounts c�is�ursed by Lender und�r th�s sect�on sha�l be�om.e addrtzona� del�t of Borro�ver secured hy �his
<br /> Security �ns�ru�n.ent. Un��ss Borr��er and Lend�r agree to �ther �erms of paym�n�, these am�un�s sha�� b�ar
<br /> znterest from �he date of d�sbursem�nt at �h� same ra�e assess�d �n ad�ances under the ��ntra�� and sha�� �e
<br /> p�.yab�e,w�th�nteres�,upan natice from Lender to Barrower reques��ng paymen�.
<br /> �24�4-2�I3 CompIiance 5yste�ns,Inc.9F96-7fl41-2013L2.a.72�
<br /> Cvr�sumer Real Estate-Sec�rity Tnstrument DL2�3d Pa�e 2 0€'S www.compliancesystems.corn
<br />
|