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��14�51�1 �
<br /> Appl�cable Law. As used in �his Se�ur�ty �nstrument, the term "App�icable Law" sha�l mear� al� contr���ing
<br /> applicable federal, s�a�e and �ocai s�a�u�es, re�ulations, ordinances and admin�s�rative rules and ord�rs �that ha�e
<br /> �che�ffect of lavv�as well as al�appl�cable finai,n�n-appealabl�judicial opin�ons.
<br /> Charges; Li�n�. Borravc�er shall pay alI �axes, assessments, charges, f nes and i_mpositions a�tr�butabie �a �h�
<br /> Proper�y�vhich may at�a�n priority o�er�his Security 7ns�rument, and �easehold payments or ground ren�s, �f any.
<br /> At the reques�of Lender,Borrov�er shall prnmptly furr�ish to Lender receip�s evidencing�he paymen�s.
<br /> Borr�wer shall promp��y d�scharge any iren whi�h ha�pr�ority a�er this Securi�y Instrumen�unless Borrov��r: �a�
<br /> agrees in wr��xng �o �he paym�n� of�he obl�ga�ion secured �y the �i�n in a manner ac�epta��e to Lender; �b3
<br /> eantes�s zn good faith the lien by, or d�fends against enfarcem.en� af the �ien in, legal proceed�ngs which �n the
<br /> Lender's apinion apera�e �o preven� �he enfarcement of the X�en; or �c} secures fram the h��der of the I�en an
<br /> agreement satisfac�ory t� Lender subnrdinating�he ��en�o this S�cU.rity �ns�rument. If Lender de�ermines�ha�any
<br /> part of�h� Properfiy is subj ect to a I�en which may attain priority over�his Securi�y 7nstrumen�, Lend�r may give
<br /> Borr�wer a natice ident�fying�he 1�en. Borrower shall sa�isfy the �ien or take one �r more of the actions s��for�h
<br /> abo�e wrth�n ��days of�h�gi�ing of not�ce.
<br /> Hazard vr Pr�perty Insurance. B�rra�wer sha�I keep the zmprovements now�xisting flr hereafter erect�d on the
<br /> Property�nsured against loss by f�re,hazards�ncluded w�thin�he term"extended coverage" and any other hazards,
<br /> �nclud�ng floods or floflding, for which Lender requires �nsurance. Th�s insurance shal� �e ma�ntained in �h�
<br /> am�un�s and for the peri�ds tha�Lender requires. The �nsurance carrier pra��ding the insuranc�shal�be chosen by
<br /> Barrfl�er subject �o Lender's appra�a� vvh�ch shali not be unreasonably wi�hh�id. If Barr�vver farls �o mai.n�a�n
<br /> coverage descr��ed above, Lender may, at Lender's op��on, ob�a�n c�verage �fl prote�t Lender's r�ghts in �he
<br /> Proper�y in ac�ardance with se�tion ti�Ied Pr�teCtion of Lender's Rights in�he Praperty.
<br /> AlI insurance polic�es and renewa�s shall b� accep�ab�e to Lender an� shall �nclude a standard mQrtgage �Iause.
<br /> Lender sha�l have�he r�ght ta ho�d the p�licies and renewals. �f Lender r�qu�r��, Borrower shall pr�mptly g�We�a
<br /> Lender a�I receip�s of paid premiums and renevval no�xces. �n the e�ent of iflss, Bflrr�wer shall gi�e prompt nfltzc�
<br /> to the insurance carrier and Lender.Lender may make pr�flf of loss if no�made promp�iy hy Borrflvv�r.
<br /> Un�ess Lender and Barrflvver otherwxse agr�e �n wr�ting, �nsurance proceeds shal� be appixed �o restora��on or
<br /> repair of the Property damaged, if, x.n L�nder's sole discre�ion, �he�rest�ra�i�n or repa�r �s economica��� feasible
<br /> and Lender's securi� �s not lessened. �f, in Lender's so�e d�scre�ion, the res�oration ar repair is not ec�nom�cally
<br /> feasible ar Lender's se�uri�y v��uld be Iessen�d,�he ins�ran�e proceeds shall�e applied to�he sums secured by�his
<br /> Security Ins�rumen�, whe�her ar n�t �hen due, �i�h any e�c�ss paid �o Borrower. �f Borrovver abandons �he
<br /> Froperty, or does no�ansvver within the number of days prescrib�d by App��cable Lav�as se�f�r�h in a not�ce from
<br /> Lender to Borr��ver that the insurance carr�er has offer�d�a set�Ie a c�aim,then Lender may col�ect�he insurance
<br /> proceeds. Lender may use �he proceeds �o repair ar restore the Properry or ta pay sums secured by thxs Security
<br /> znstrument,�hether�r not then due.The per�ad af time for Borrow�r to answer as set f�r�h in the no��ce w�Il be��n
<br /> wh�n the no���e is gi�en.
<br /> Unless Lender and Borrower other�vise a�ree �n wr�ting, any applicat�on of pr�ceeds�o prin�ipal sha1l not extend
<br /> or postpone the due da�� of�he payments due under�he �ontrac�or change�he amount�f�he paym�n�s. rf under
<br /> the sec�i�n ti�led Accelerati�n; Remedies, the Froperty is acquired by Lender, Borr�wer's righ�to any insurance
<br /> po�ic�es and prflce�ds resulting fram damage to �he Property prior to the acqu�si��on sha�� pass �o Lender �� �he
<br /> �x�en�of the sums secured by this Security Ins�rumen��mm�d�at�ly prior�o the a�quzsitron.
<br /> Preservation, Mafntenan�e and Prote��ion of the Property; Borrower'S Loan Appli�ation; Leas�ho�ds.
<br /> Borrower shall not des�roy, damage or impair the Property, a�Iow the Propez-�y�fl de�errarate, ar commit waste on
<br /> the Propez�y.Borrower sha�l be�n default�f any forf��ture action or proceeding,whether civil ar cr�mina�,is begun
<br /> tha� in Lender's good fai�h judgment cou�d result �n farfeiture of�he Praper�y or o�h�rw�se ma��r�ally �mpair�he
<br /> lien cr�a��d by this Secur�ty �ns�rument or Lender's se�urity in�erest. Borrovver ma� cure such a defau�� and
<br /> reYns�ate, as pro��ded in section titled Bvrrawer'� Right to Reinstate, by causing�he ac�ion ❑r proceed�ng ta be
<br /> dismissed v��th a ruli.ng that, in Lerider's gaod fa�th determination,precludes forfeiture of�he Borrower's�nterest in
<br /> th� Properry or ather ma�eria� impairmen� of the lien created by th�s S�cur�ty �ns�rumen� or Lender's security
<br /> in�erest.Borrower sha�l also be�n default if Borrawer,dur�ng the�oan applicat�on process,gave ma�erially fa�se or
<br /> �naccurate informa��an or stat�m�nts to Lender �or failed to provide Lender �vrth any ma�er�a1 infarmatian� �n
<br /> cannect�an w��h�he �oan e��denced by the Con�rac�. If�his Security �nstrument is on a Ieasehoid, �orrflwer shall
<br /> compiy v���h all the pro�is�ons of the �ease.�f Borr�w�r acqu�res fee ti�Ie to�he Properry,�he l�aseh��d and the fee
<br /> ���Ie shall not merge unless Lender agr�es to the m�rger in writing.
<br /> Protect�on of Lender's Rights �n the Property. �f Barrower fa�Is t� perform the cavenan�s and agr�em.en�s
<br /> cvntained in�h�s Security Ins�rument, or there is a legal pro�eeding�hat may s�gn�f cant�y affect Lender's rights �n
<br /> the Praper�y �such as a proceeding �n bankrup��y, probate, far candemna��on or forfeiture or to enfor�e laws or
<br /> regula�ians�, then L�nd�r may do and pay for wha�ev�er is necessary to pro�ec� the �a�ue of the Property and
<br /> Lender's r�ghts �n th�Proper�y.Lender's ac��ons may include pay�ng any sums secured by a l�en wh�ch has prxority
<br /> o�er�his Security�nstrum�n�, appear�ng in cour�,paying reasona��e at�arneys'fe�s and en�ering on�he Propez�ty�o
<br /> make repairs.A�though Lender may take action under this sec�ion,Lender daes not ha�e ta dfl so.
<br /> Any amounts d�sbursed by Lender under this sec�ian shal� become additional de�t of Borrower se�ured by this
<br /> Secur�ty �nstru.men�. Un�ess Barrower and Lender agree to other terms of paymen�, these amoun�s sha�I bear
<br /> �nterest from �he da�e of disburs�men� a� the same ra�e assessed an ad�ances un�er �he Contrac� and sha�� be
<br /> payable,�vxth�nteres�,upon na�ice from Lender�o B�rrower request�ng payment.
<br /> �2a04-2414�air►pliance Systems,Inc.4958-729A-2413L2.3.I.803
<br /> Cansumer Real Esta#e-Security Ir�strument DL2�35 Pa�e 2 of S www.compiian�esystems.cvm
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