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<br /> A I�cation of Payments. Un�ess Appl�cable Law pro�ides �tr�erw ise, a�l paymen�s rece�ved by Lender shal�be
<br /> Pp
<br /> a �ied: frst, to any prepayment charges due under�h�N��e; sPc�nd, �a interes� due; th�rd, �o prxnclpal du�; and
<br /> p�
<br /> �ast,t�any�ate�harges due under�he Note.
<br /> Char es• L��ns. B�rrovver sha�� pay al� taxes, assessm�nts, charges, fnes and imposit�ons attribu�ab�e �o �he
<br /> g �
<br /> Proper�y vvhich ma�atta�n priority o�rer�his Secur�fiy�nstrum.en�, ar�d leasehold paymen�s or ground rents, �f any.
<br /> Borrower sha��pay�hese �bl�ga���ns on��me and direc�l��o the persan��ved payment. At the request of Lender,
<br /> Barrower sha��promptly furn�sh to Lender receipts e��dencing the paymen�s.
<br /> Borrower shall pr�mp��y d�scharge any�ien�hi�h has pr�ority �ver�his Security�nstrument unless�orrov�er: �a�
<br /> agrees in wri�ing to �he payment of the obligation secured by the l�en �n a manner acceptable to Lender; �b�
<br /> �ontests in g�ad faith�he �ien by, �r defends againsl: enf�rcem.ent of the 1��n �n, �egal pr�ceedings which �n the
<br /> Lender's opinion operate �� pre�en� �he enforcemen� of the �i�n; �r �c} secures from �he holder o��he �ien an
<br /> agreemen�satisfactory ta Lender sub�rdina��ng the ��en�o this �ecur��y�ns�rumen�. If Lender de�ermines fhat any
<br /> part af the Pr�perty is su�ject to a l�en wh��h may atta�n priarity aver th�s Secur�ty�ns�rum�nt, Lender rnay gi�re
<br /> Borrower a notic� ident�fying the Iien. Borrower shal� sa�isfy��e Ii�n or�ake one or more of�che a�ti�ns set for�h
<br /> abo�e wi�hin �D days of�he gi�ing of notice.
<br /> Ha�ard or Property Insurance. Borrower shall keep the improve�nents now existing or hereafter erected on�he
<br /> Property insured against loss by f�re,ha�ards in�Iuded v�rithin th��erm"extended ca�erage" and any o�her hazards,
<br /> �nc�uding floods or fl�oding, for which Lender requires �nsu�ance. Th1s lnsurance shal� be main�ained in the
<br /> amoun�s and for�he per�ods�hat Lender r�quir�s.The insurance carrler provid�ng�he insurance shal�be chosen by
<br /> Barrvwer sub�ec��o Lender's approrral wh�ch �hall n�t be unr�asonab�� withheld. �f SorrovWer fails �o rnaintain
<br /> cov�erage descr�bed ab�ve, Lend�r ma�, at Lender's �p�ion, �btain coverage to pro�ec� L�nder's rights in �he
<br /> Pr�pert�in acc�rdance v�ith sectifln�itled Pratect�on of Lender'S�ights�n the Prflperty.
<br /> All insurance olic�es and rene�als shal� b� acceptabl� �o Lender and shall inc�ude a s�andard martgage �Iause.
<br /> �
<br /> Lender shail ha�e the righ��o ho�d�he po�i�ies and rene�als. ��'Le�.der requ�res, Borrower shall promptly give to
<br /> Lender all rece�pts of paid premiums and renewal nat�ce�. �n�h�e e�ent of 1oss, Borrawer sha�l giv�prompt noti�e
<br /> �a the insurance carrier and Lend�r.Lender may mak�pr�of of��ss if not made promp�ly by Borr�wer.
<br /> Unless Lender and B�rrovver �the��se agree in wr�ting, ins�ran�e praceeds sha1� be applied to res�flration or
<br /> repair o��he Praper�y damaged, if, in Lender's so�e dis�re�ian, the res�ora�ion or r�pair is economi�ally feasib�e
<br /> and Lender's security is not ��essened. �f, in Lender's sole d�scr�etian, �he restarat�an flr repair�s n�t economical�y
<br /> feasi��e or Lend�r's security would be�essened.the insurance p�-�c�eds shall be app��ed ta the sums secured by this
<br /> Security �nstrument, whether or nfl� �hen due, v�ith any exc�ss paxd �o B�rrower. 7f Borrower a�and�ns �he
<br /> Pr�perty,or does n�t ans�ver wi�h�n�he number of days pres�ribed by App��cab�e Law as set forth�n a not�ce from
<br /> Lender to Bflrro�rer that�he �nsurance carrier has offered t� settle a c�ai�n,then Lender may�o��ec��the �nsurance
<br /> proceeds. Lender may use th� proceeds to repa�r or restore �he Pr�perty or�fl pay sums secured by�h�s S�curity
<br /> rnstrumen�,v�he�her�r no�then due.The perifld of time f�r Borrov��r�o ansvver as set forth in the notice wil�begin
<br /> vvhen the noti�e is gi�en.
<br /> I1nXess Lender and BorrovWer athervvise agree in�vriting, any a�apli�ation flf proceeds to principal shall nt�t ex�end
<br /> or postpane the due da�e of the payments referred to �n the s�c�ion t��led Payment of Principa� and Interest;
<br /> Prepaymen� and Late �harges or change the amvunt�f�he payments. If under the section t��led�►.ccelerat��n;
<br /> Remedies, �he Fraperty is acquired by Lend�r, Borrower's rig�t to any insurance p�l�cies and proceeds resu��ing
<br /> fr�m damage�o�he Pr�perty pr��r to�he acqu�sition sha�1 pass to Lender to�he exten��f the sums secured by�h�s
<br /> Se�uri�.y Ins�rument�mmediate�y prior to the acquisi��on.
<br /> Preser�ation, N�aintenanc� and Pr�tection of the Proper�ty; Barrower's Laan App��cation; Leaseha�ds.
<br /> Barrower sha��no�destroy, damag� or impair�he Prop�rty, a���w th�Proper�y t� deteriarate, or com�mi�waste on
<br /> �he Pr�perty. B�rrower shall be in defaul�if an�farfei�ure actian or pr�ceeding,whether ci��l or crim�nal,is begun
<br /> that in Lender's ga�d fai�h judgmen� could result in f�rfeiture af�he Property or o�her��se ma�er�a�Xy impair the
<br /> Iien crea�ed by this Security Znstrument or Lender's security �nterest. Borrower may cure such a. defaul� and
<br /> reinstate, as provided in secti�n ti�led Borrower's l�ight�o R�einsta�e, by causing�he action�r pr�ceeding t��b�
<br /> disrn�ssed wi�h a ruiing tha�, �n Lenderts g��d faith d��erminatin�n,precludes forfeiture vf the Borrow�r's interest in
<br /> the PrQper� or other ma�eria� impairment of the lien created b�• this Se�urity Instrument or Lender's security
<br /> �nteres�.Barravver sha�l alsa be in defaul�if Borrovver,�uring the loan app�ica�ion pracess,ga�e materia�ly false nr
<br /> inaccura�e informatian or s�atemenrs ta Lender ��r failed �o pro�ride Lender with any materia� ir�f�rma�ion} in
<br /> connect�an v�xth the loan e�idenced by the Nate. If this Security rns�rument is �n a leaseho�d, Sorrow�r shall
<br /> �omply w�th al1 the provisions�f the lease. �f Borrower a�qu�res fee�i�le to�he Property,�he leasehold and�he fee
<br /> �i�le shall nat merge uniess Lender agrees�o the mer�er in�riting.
<br /> Protection of Lender's Righ�s in the Prflp�erty. �f Barrov�rer fa��s t� perform �he ca�enants and agreements
<br /> conta�ned�n this Securi�y�ns�rumen�, �r�here zs a�ega�praceeding that may signif can��y affe�t Lender's righ�s in
<br /> the Property �such as a proceed�ng in bankruptcy, pro�ate, f�r c�ndemna��on or forfexture ar�o enforCe Iaws or
<br /> regulatians}, �h�n Lender may do and pay for wha�ever is n.ecessary to protect �he �alue �f the Property and
<br /> Lender's rights�n�he ProperCy. Lender's activns may include p�.ying any sums secured by a lien which has pr�ori�y
<br /> flver�his Security Instrument, appear�ng in cour�,pa�ing reas���ab1e attorne�s'fees and en�ering on the Praperry t�
<br /> make repa�rs.Although Lender ma}��ake actifln under this sec��on,Lender dves not ha�e to dfl so.
<br /> Any amounts d�sbursed by Lender under this secti�ri s�all b�com.e add�ti�na� de�t af Borrower secured by this
<br /> Se�urity Instrument. Unless B�rr��ver and Lender agree �a �th�r terms of payment, �hese amounts sha1� bear
<br /> Q 2Q04-24I4 Cornpliance Systems,I�c.4g58-549E-2�I3L2,3.1.803
<br /> Cons�mer Real Esta�e-Securicy Tnstrur�er�t DL2035 Pa�e�af 5 www.cvmp�iancesystems.Gam
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