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��15�1453
<br /> App��cab�e Law. As used in this Securi�y Ins�rume�t, �he �erm "Applicab�e Law" sha�l mean a�� con�roliing
<br /> applicable federal, sta�e and local stiatutes, regulation�, oxdi�.ances and administrat�ve rules and orders ��ha� have
<br /> �he effec�of�aw}as�vell as al�applicable final,nonwa.��ea�able j udi�ia��pin�ons.
<br /> Charges; LYens. Borrower shall pay al� taxes, assessr�e�ts, charges, fin�s and �mpasi�ions attr�bu�ab�e �a �he
<br /> Pr�p�rty,whi�h may at�a�n priority over this S�cur�ty�r�s��n�n�, and l�asehold payments or ground rents, �f any.
<br /> At the reques�af Lender,Borrower sha�l promp�ly furnish ta Lender receip�s evidencing�h�payme�ts.
<br /> Borrovv�r sha��prompt�y discharge any lien�vhich has priori�y over this Security Ins�rument un�ess Borrower: �a}
<br /> agrees in �v�ri��ng �o the payrnent of the obligat�on s�cured l�y rhe lien in a manner acceptab�e to Lender; �b}
<br /> contestis in good faith �he �i�n by, or defends agai�.st enforcemen� of�he lien in, lega� pro�eed�ngs wh�ch in �he
<br /> Lender`s �pinion opera�e �o preven� the enforcement of�he Iien; or �c} s�cures from �he ho�der of�he Iien an
<br /> agreement sat�sfac�ory to Lend�r subord�na�ing the �ie�.to �his Security Instrument. If L�nder determines tha� any
<br /> part af the Pr�p�r�y �s sub�ec��a a �ien vvhich may attain priority aver�his Securi�y Instrument, Lender may give
<br /> B�rrawer a n��ice iden�ifying the l�en. Borrav�er sha�� sa�isfy the lien ar take one or more of�h� ac�ions set for�h
<br /> above within 1�days�f the giving of nv�i�e.
<br /> Hazard or Pr�perty In�urance.Barrower shall��e� �h�im�rovements no�r exis��ng ar hereafter erect�d on the
<br /> Property insured aga�nst��ss by fire,ha2arc�s included�ithin�he term"extended��verage" and any a�her ha�ards,
<br /> including flo�ds or fload�ng, for which Lender requires insurance. This insurance sha�l be mainta�n�d in �he
<br /> amounts and far th�peri�ds�ha�Lender requires. The insu.rance carrier prov�ding�he insurance shal�be chasen by
<br /> Borrower subj�ct to L�nder's approval which sha11 nat b� unreasonably wi�hheld. �f Borrovver fails �o main�ain
<br /> coverage described abave, Lender may, at L�nder's op��an, obtain coverage �o protect Lender's right� in �he
<br /> Pr�perty in accardance�vith sec�ion�itled Protection of Lender's Rights in the Property.
<br /> A11 xnsurance polici�s ar�c� reneVvals sha�l be ac��ptab�e ta Le�d�x a�d s�a11 incXude a standard mor�gage clause.
<br /> Lender sha11 hav�the rig�.t to hald the paiici�s and renetivals. If Lender requires,Borrow�r shal�pramp�ly giv��o
<br /> Lender al1 receiprs of paid premiums and r�newal z�ot�ces. In�he even�of lass, Borrov�er sha�l gi�e prflmpt no��ce
<br /> to�he insurance carrier and Lender.Lender may make pr�of Qf�oss if not made promp�ly by Borro�wer.
<br /> Unless Lender and Borrflwer othe�ise ag�ee �n vvritzng, �nsurance proceeds sha�l be app�ied to re��ara�ion flr
<br /> repair of�he Property damaged, if, �n Lender's soie discre�ian, the r�s�arati�n or repa�r is econ�mica�ly feas�bl�
<br /> and Lender's security as not �essened. If, in Lender's sole dis�r��ion, the res�aration or repair is no� ec�nom�cally
<br /> feasible or Lender's secu.rity would be Iessened,the ins�rance proceeds shal�be appli�d�Q the sums se�ured_�y th�s
<br /> S�curity Instrumen�, whether or not then due, w�th any excess pa�d to Borrower. If Borro,wer abandons �he
<br /> Property,or d�es not answer with�n the number of days�xescri�ed by App�icab�e Law as set forth in a no�i��from
<br /> Lender to B�rrower�hat the insurance carrier has offered to se�t�e a�laim, then Lender may��l�ect the xnsurance
<br /> proceeds. Lender may use �he praceeds to repair ❑r res�ore the Property or�a pay �ums secured by.this Security
<br /> Instrument,whe�her or na�then du�. The p�ri�d of time fo�Borr�w�r to answer as se�far�h in�he no�ice wi�l b�gin
<br /> when the no�ic�is g�ven.
<br /> Unless Lender and Borrovver otherwise agree in w��tir�g, a�.y ap��ica�ion of proceeds to principa� sha�l not extend
<br /> or postpon�the due date of the payments due under�he �ontract ar change �he amoun�of the payments. If und�r
<br /> th� section�i�led Acce�Qration; Remed�es, �he Pzop�r�y�s ac�uired by Lender, Barrower's right to any in�urance
<br /> policies and proceeds resulting from damage �o the Pro�e�.y priar to rhe acquisition sha1l pass ta L�nder �� th�
<br /> extent of the sums secured by�h�s Security In��rurr�.e�t imme�iately pri��-��the acquis�tion.
<br /> Preservatian, Maintenanc� and Protection of the Prflp�rt�; Borrow�r's Loan App�ication; Leaseholds.
<br /> Borrower shall not des�r�y, damage ar�mpair the Property, a11ow the Property�o deteriora�e, ar commi�waste on
<br /> the Proper�y.Borrovver sha�l�e�n defaul��f any forfeztu�-e ac�ian�r proceeding,�tnrhether�ivii or cr�minal,is begun
<br /> tha� in Lender's g�fld faith j udgment could resul� in farfei�ure of�he Pr�per�y or o�herwise rnaterially impair the
<br /> �ien created by this Security Ins�rumen� or Lender's security int�res�. Barrov�er may cure su�h a defau�� and
<br /> re�nstate, as provided in sec�ion�i�led Borrower�s Right to Re�nState, by causing the action nr proceeding�o he
<br /> dismiss�d wi�h a ru�ing�hat, in Lender's good faith determina�ion,pr�cludes forfeiture af the Borr�wer's�n�erest in
<br /> �he Prop�rry or o�her mater�al impairment af the lien created by th�s Secr�rity Instrumen� or Lender's secur�ty
<br /> interes�.Borro�xrer shali als�be in defaul�if Borr�wer,dur�ng�he loan applicati�n process,gave materiaX�y false ar
<br /> inac�urate infarmation or statements �o Lender �or failed to provide Lender wi�h any ma�erial informa�ian} in
<br /> cannec�ion wi�h the l�an evidenc�d by the ��n�ract. If this Security Ins�rument�s on a leaseh�ld, Borrovver sha�l
<br /> comp�y with al�the pra�isians of th��ease.If Barrower acquires fee ti�le to the Property,the leasehold and the fee
<br /> ��tle shall na�merge unless Lender agrees�o th�merger in writ��g.
<br /> Protect�on of Lender's Righ�s �n the Property. If�arrow�r fails �o perf�rm the �ovenan�s and agreemen�s
<br /> con�ained in this S�curity Instrument, or�here is a�egal proceedi�.g�hat may significant�y affe�t Lender's righ�s in
<br /> �he Proper�y �such as a proc�eding in bankrup�cy, praba�e, for candemna�ion or forfeiture or to enforce lav�s or
<br /> r�gula��ons�, then Lender may do and pay f�r whatever is neGessary �a pro�ec� �he value of the Praperty and
<br /> Lender's r�gh�s�n�he Praper�y. Lender's actions may include payin�;any sums secured�y a�ien wh�ch has pri�rity
<br /> over this Securi�y Instru�ment, appearing in c�ur�,pay�ng reasonable a�torneys'fe�s and entering on th�ProperCy�o
<br /> make repa�rs,Although Lender may take actiori under th�s sec�ion,Lender daes nflt have�o d�s�.
<br /> Any amoun�s disbursed by Lender under �his sec�ion sha�� b�come addit�onal deb� of Barrower secured by �his
<br /> Securi�y Instrument. Unless Borrower and Lender agre� to ot�er terms flf payment, these amounts shal� bear
<br /> interest fram the date of disbursement at th� same ra�e asse�sed on advances under the Contract and sha�l be
<br /> payabl�,With in�erest,upon notice from Lender to Borrow�r requ�sting payment.
<br /> Cr�2DU4-24I4 Compiiance Systems,Inc.49S8-ESE�-24I3L2.3.1.843
<br /> Cansumer Real Estate-Security Instniment DLZ43d Page 2 af 5 www.cflmplianccsyste�ns.cvm
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