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� ��15�1�71
<br /> Payment of Principa�and Interes�; ��her Charges.B�rrav�rer sha�l promp�:ly pay v�h�n due�he pr�nc�pal of and
<br /> in�eres�on�he debt o�ved under the�on�ract and la�e eharges or any other fee:�and charges due under th�C�n�ract.
<br /> Applicable Law. As used in this Securi�y �nstrument, �he term "Applica���e Law" shall mean a�� c�ntrolling
<br /> applicable federal, s�ate and �aca� s�atut�s, regulatrons, ordinances a.nd adm��l�s�rative rules and �rders �that have
<br /> the effect of�aw}as well as all applicable fina�,non-app�ala�le judicral op�n�c�ns.
<br /> �harg�s, L�ens. Barrower shall pay alI �axes, assessments, charges, fnes and �mpos���ons attributable to �he
<br /> Pr�per�y vvhich may at�ain priority o�er this Security Instrum�n�, and �easehtald payments or ground rents, if any.
<br /> A��he reques�of Lender,B�rrower shall pr�mptly furnish�o Lender receip�s�.v�denc�ng th�paymen�s.
<br /> Bflrrov�er shall pr�mptly discharge any l�en v�hich has priority over�his Sect�r�ty Ins�rum�n�un�ess Borrower: �a�
<br /> agre�s ir� vvriting to the paymen� af the obligation se�ured by the lien in a manner acceptable �o Lender; ��b}
<br /> �ontests in good faith the lien by, ar d�fends against enfor�ement of the li�n i.n, Iegal proceedings v�h��h in �he
<br /> Lender's apinion opera�e �o pre�ent �he enforcement �f�he l�en; or �c} �ecures fram the hnlder of the Iien an
<br /> agreement sa��sfactory to Lender subord�nating�he ��en�o�h�s Securi�y Instri�m�n�. �f Lender d��erm�nes�ha�any
<br /> par�of�he Praper�y is subj ect to a I�en which may at�ain priar�ty �ver this Se�urity Instrument, Lender may g�ve
<br /> Borrower a no�ice iden�ifying�he Iien. Borro��r shall sa��sfy the �ien or�ake one or more of the ac��oms s�t for�h
<br /> above wi�hin 1�da�s of�he giving flf na�i��.
<br /> Hazard ar Property Insurance. Borrower shall keep the improvemen�s novv existing�r her�after erected on the
<br /> Properfiy insured against loss by f re,hazards�n�Xuded vW�thin the term"ex�enc�ed ctiverage" and any�ther hazards,
<br /> includ�ng floods ar f�oading, for which Lend�r requires insurance. This ia�surance sha�l be mainta�ned �n the
<br /> a.moun�s and for the peri�ds�ha�Lend�r requires. The insurance carrzer pro�ic��ng the znsurance shall be Ghosen l�y
<br /> B�rr�v�er subj ect t� Len�er's approva� vvh�ch sha�l nat be unreasonably w��f�held. �f Bflrrov�er fails �o ma�ntain
<br /> coverage descr�hed abo�re, Lender may, at Lender's op�ion, obtain co�era,�e �o pratect Lender's rights in the
<br /> Proper�y i.n accordance w�th sec�ion t��ied Prote�tian af Lender's Rights in the Pr�perty.
<br /> AlI insurance polici�s and renewa�s sha�� be acceptab�e to Lender and shall include a s�andard mflr�gage clause,
<br /> Lender shal�ha�e the rzgh�to hald�he policies and renewals. If Lend�r requ�res, Borrov�rer shall promp��y give to
<br /> Lender al�receip�s af paid premiums and renev�al no��ces. In the even�of l�ss, Barro�rer sha�1 give prompt no�ice
<br /> to the insurance carr�er and Lender.Lender may make proof of�oss�f not mad.e prompt�y by Borrov�er.
<br /> Unless Lend�r and Borr�wer o�herv��se agree in wri��ng, insurance prQceec�s shal� �e app��ed �fl re��ora��on or
<br /> r�pair of the Properry damag�d, if, in Lender`s sal� discretifln, the rest�ra�i��n or repair �s economi�al�y feas�b�e
<br /> and Lender's secur�ty is nnt lessened. �f, u�. Lender's so�e discretion, the res��3ration or repair xs not ectinomical��
<br /> feasible or Lender's se�ur�ty vvould be lessened,the�nsurance proceeds shall b�app�ied ta the sums secured by this
<br /> Securifiy Zns�rumen�, whether or na� �hen due, with any excess paid t� B��rrower. �f Borrower abandons �he
<br /> Property, �r does n�t answer�i�hin th�number of days pres�ri�ed by App�ic��bl�Law as set�or��i i�a�o�ice from
<br /> Lender�� Barrovsrer�hat th� insuranc� �arrier has aff�red�a settl� a claim, �h.en Lender may collec�the �nsurance
<br /> proc�eds. Lender may use th� praceeds�o rep�.ir or res�ore �he Proper�y or to pay sums seeured by�his Secur�ty
<br /> Instrumen�,�vhe�her or not then due.The period of time for Borr�wer��answ��r as set forth in the no�ice w�ll begin
<br /> when the n��rc e is gi�en.
<br /> L�nless Lender and Borrov�er o�herw�se agree in wri�ing, any appli�a�ion of pro�eeds to princ�pa�shali na�extend
<br /> or pas�pone th� due date af�he payrr�en�s due under�he �ontrac�or change�:he amaun�of the paymen�s. If under
<br /> the se�tion tit�ed ACce�erati�n; RQmed�es, the Prop�r�y �s a��uired�y Lend��r, Bflrrow�r's r�gh�to any insurance
<br /> po��c�es and proceeds resulting from damage to the Properfiy prior to �he ac��uis��ian shall pass tn Lender �o �he
<br /> ex��nt vf�he sums secured�y�his Se�ur�ty�nstrument�mmed�ately prior to th��acqu�sition.
<br /> Preser�ation, Maintenanc� and Pro�ectivn of the Property; Borrower's Loan App�ication; Leasehalds.
<br /> Borrower shall no�d�stray, damage or impair the Properfiy, a��ov�the Praperty to de�er�orate, or commit vvaste on
<br /> the Praperty. Borrower shall be in defau�t�f any forfeiture action or proceeding,�hether cz�il or criminal, rs begun
<br /> that in Lender's good fai�h judgm�n� c�uid resu�� in forfe�ture of the ProperCy or otherwise material�y �rnpair the
<br /> lien crea�ed by th�s Security Ins��n� ar Lender's security in�erest. B�r�ower may cure su�h a default and
<br /> reins�ate, as pro�ided in s��tion titled�flrrov�er's Right�� Re�nsta�e, b�causing the act�on nr proceeding to be
<br /> dismissed�vith a ruling�hat, �n Lender's g�od fai�h de�ermina�i�n,precludes fc�rfe�ture of the Borrower's interes�in
<br /> �he Proper�y or o�her mater�al �mpa�rment af�h� lien crea�ed by th�s Secu�r��y �nstrument or Lender's securi�y
<br /> in�eres�.Sarrower shall a�so be in defau�t if Bor�ower,during the Iflan appl�ca:�ion process,gave materially fa�se ar
<br /> ina�curate informa�ian ar statements to Lender �ar fa�Ie�. �a pro�ide Lender wi�h any ma�eria� �nf4rmation� �xa.
<br /> co�anection with�he Ioan evidenced by�h� �on�rac�. If th�s Secur�ty rns�rumen� �s on a leaseho�d, Borrow�r shall
<br /> comply with aI��he pro��s�ans of the l�ase. If Borr�vver acquires fe�t�t�e�o th�y Proper�y,the leaseho�d and the fee
<br /> �it�e sha��nat merg�unless Lender agre�s t�the merger in v�riting.
<br /> Protec�ion of Lender'S R�ghts in the Property. �f Borrower fa��s ta peri orm �he cavenan�s and agreements
<br /> c�n�ained in this Security Instrumen�, or there i�a��ga�pra�eeding�hat may.�ign�f cantly affect Lerider's rights in
<br /> the Property �such as a pr�ceeding �n bankruptcy, probate, for �ondernna�ior� or forf�iture or�o enf�rce laws or
<br /> regula��flns�, th�n Lender may do and pay f�r whate�er �s necessary �� pr�3tect th� value af�he Praperty and
<br /> Lender's righ�s in�he Properry. Lender's a�tions may�r�clude paying any sums seGured by a�ien which has prior�fiy
<br /> over this Securi�y�nstrumen�, appearing i.n�our�,pay�ng reasonab�e at�arneys'fees and en��r�ng on the Property ta
<br /> mak�repairs.Although Lender may�ake action under th�s sec�ion,Lender doe��not have t�do so.
<br /> Any amaun�s d�sbursed by Lender under th�s sec�ion shall hecome addition��I deb� of Borro�er secured by th�s
<br /> Security Instrument. Unl�ss Borr�wer and Lender agree �o a�her �terms af payment, these amounts shall b�ar
<br /> C�2�q4-2414 CompIiar�ce 5ys#ems,Inc.FDb�-1 Q69-2Q 13L2,14.1,895
<br /> Consur�er Reat Estate-Security Instrument DL2�3b Page 2�f 5 www.compliancesystems.ca�n
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