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201500735
<br />Secured Indebtedness; Payment of Principal and Interest; Late Charges and Other Loan Charges. This
<br />Security Instrument secures to Lender the repayment of Borrower's Note, Consumer Loan Agreement, Guaranty,
<br />or similar writing executed by Borrower to Lender, more particularly described as:
<br />• Loan number 14568 with a principal amount of $250,000.00
<br />and all renewals, extensions, modifications and substitutions thereof. This Security Instrument also secures: all
<br />future advances of funds from Lender to Borrower as evidenced by any promissory note, consumer loan
<br />agreement, or similar writing that may hereafter be executed by Borrower to Lender; all future obligations of
<br />Borrower to Lender; all future obligations of Borrower to Lender that may be evidenced by any contract, guaranty,
<br />or other evidence of debt hereafter executed by Borrower, and if more than one Borrower/Mortgagor has executed
<br />this Security Instrument, any one of them, in favor of Lender; and all additional funds that may be advanced by
<br />Lender to protect Lender's security interest in the property, as provided under paragraph titled Protection of
<br />Lender's Rights in the Property of this Security Instrument. All of the foregoing shall be referred to as the Secured
<br />Indebtedness. Borrower shall promptly pay when due the principal and interest on the Secured Indebtedness, and
<br />any late charges and other loan charges that may become due under the terms of the Secured Indebtedness.
<br />Applicable Law. AS used in this Security InstruMent; the term 'Applicable Law" shalr mean all corltrolling
<br />applicable federal, state and local statutes, regulations, 'ordinances and administrative rules and orders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />Application of Payments. Unless Applicable Law provides otherwise, all payments received by Lender shall be
<br />applied: first, to any prepayment charges due under the Secured Indebtedness; second, to interest due; third, to
<br />principal due; and last, to any late charges due under the Secured Indebtedness.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations on time and directly to the person owed payment. At the request of Lender,
<br />Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)
<br />contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any
<br />part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br />including floods or flooding, for Lender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain
<br />coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
<br />Property in accordance with section titled Protection of Lender's Rights in the Property.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice
<br />to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if, in Lender's sole discretion, the restoration or repair is economically feasible
<br />and Lender's security is not lessened. If, in Lender's sole discretion, the restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this
<br />Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br />Property, or does not answer within the number of days prescribed by Applicable Law as set forth in a notice from
<br />Lender to Borrower that the insurance carrier has offered to settle a claim, then Lender may collect the insurance
<br />proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security
<br />Instrument, whether or not then due. The period of time for Borrower to answer as set forth in the notice will begin
<br />when the notice is given.
<br />Unless Lender and;Borrower otherwise-agree wing- awl application of proceeds to principal shall not,extend
<br />or postpone the due date of the payments referred to in the section titled Secured Indebtedness; Payment of
<br />Principal and Interest; Late Charges and Other Loan Charges or change the amount of the payments. If under
<br />the section titled Acceleration; Remedies, the Property is acquired by Lender, Borrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the
<br />extent of the sums secured by this Security Instrument immediately prior to the acquisition.
<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on
<br />the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun
<br />0 2004-2013 Compliance Systems, Inc. 9F96-9917 - 2013L2.0.721
<br />Coniumer kearEstate - Security Instrument DL2036 Page 2 of 6 www.cOmPlialicesYslem,s.cOm
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