|
��15�17SS
<br /> Payment of Pr�n�Ypal and Interest; �th�r Charges.Barrovver shall promp�ly pay vvhen du��he prznc�pa�of and
<br /> interes�on the debt owe�under�he Contract and Iate charg�s ar any oth�r fees and charges due under the�ontrac�.
<br /> Appi�cab�e Law. As used in �h�� Secur�ty Instrumen�, the �erm "App���able Law" sha11 mean a�1 �ontr�lling
<br /> appl�cable federal, state and lo�al statutes, regulations, ardinances and administra�i�e r�les and orders ��hat ha�e
<br /> the effe�t�f law}as v�e��as a�l applicable f na�,nfln-appealable judicia�op�n�ons.
<br /> Charges; Liens. Borrower shail pay all �axes, assessm�n�s, charges, fines and impositions at�ributable �o the
<br /> Property which may at�a�n priority o��r this Security �nstrument, and �easehold payments or ground r�nts, if any.
<br /> At the request of Lender,Borrower shal�prflmp��y furn�sh t�Lend�r rece�p�s evidencing�he payments.
<br /> Borrovver sha11 promptly discharge any�ien v�hich has priority over�his Secu.rity Instrument unless Bflrrawer: �a�
<br /> agrees �n writing �o �he paymen� af the nblrgatian se�ur�d by the l�en in a manner accepta�Ie �o Lender; �b�
<br /> con�es�s in good fai�h the lien by, or defends agains� en�arcernen� of�he l�en in, l�gal procee�ings whi�h in th�
<br /> L�nder's opin�on operate �� pre�en� �he enforc�ment of the lien; Qr �c} secures from the holder af the lien an
<br /> agr�emen�sa��sfactory tv Lender subord�.n.a��ng�h� Iien�o this Security�nstrument. �f Lender de�e�mines tha�an�
<br /> par� of�he Proper�y is subj e�t t� a �ien which may at�ain priari�y over this S�curity�nstrumen�, Lender may give
<br /> Borrawer a no�ice iden�ifying the ��en. Borrower shail sa�isfy the lien�r�ake ane or mare of the actions set fflr�h
<br /> a�fl�e wi�hin ��days of�he giving af natice.
<br /> Hazard ar Property Insurance. Borrov�er sha11 keep �he �mprovements now ex�s��ng or h�reaft�r ere�ted on the
<br /> Property insured against loss by f�re,hazards znc�uded w�thin the terrn "ext�nded coverage" and any other ha�ards,
<br /> including floods or flooding, far whi�h Len�er requ�r�s rnsuran�e. This �nsuran�e shall b� ma�n�a�.ned in �he
<br /> amflun�s and for the periods�ha�Lender requires. The insuran�e carrier pr���ding the insuran�e sha�l be chflsen by
<br /> Bflrrow�r subject ta Lender's apprtival which shall no� be unreasonab�y �ithhe�d. If Borrower fails to ma�n�ain
<br /> co�erage described abov�, Len�er may, at Lender's opt�an, obta�n coverage to protect Lender's righ�s rn the
<br /> Prop�rty in accordance�r�th se���on ti��ed Protecti�n of Lender's Righ�s in�h�Pr�per�y.
<br /> All �nsuranc� pol�cies and renewals sha�l be accep�ab�e ta Lender and sha11 include a standard mor�gage �lause.
<br /> Lend�r sha�I have the righ��o hold�he palicies and renevva�s. If Lender requires, Barrower shall promp�ly g�ve to
<br /> Lender a11 receipts of paid prem�ums and renewal no�ices. �n�he �ven��f loss, Borr�vver shaTl gi�e prompt natice
<br /> to�he insurance carr�er and Lender.Lender may make proof of lass�f not made pramptly by Borrower.
<br /> Un�ess Lender and Borrov��r otherv�ise agree in writing, insura.nce proceeds shall be applied �� res�oration or
<br /> repair of the Proper�y damaged, if, in. Lender's sale dis�ret�on, the res�oration or repair �s �conor�i�ally feas�ble
<br /> and Lender's secur�ty is not lessen�d. If, in Lender's sal� d�scr��ion, the restoration �r repa�r is n�� ecanami�a�ly
<br /> feasib�e ar Lender's se�urxty v�ould�e Iessened,the insurance proceeds sha��be applied�o�he sums secured by�his
<br /> Security �nstrument, whether or not then due, wi�h any excess paid to Borrawer. If Borr�wer a�andQns the
<br /> Proper�y,or d�es not answer vvithin�he nu.rn�er of�ays pr�scri�ed by App��cable Law as se�forth in a na�i�e fr�m
<br /> Lender�o Barrawer that�he �nsurance carrier has offered to set�le a claim,then Lender may c�llect the �nsurance
<br /> proceeds. Lender may use �he pro�eeds to repair or restore the Property or�o pay sums secured by this Securi�y
<br /> �nstrumen�,wh��her or no�then due. Th�period of�ime for Borrawer to answer as set forth�n�he noti�e v�rill begin
<br /> when�he nfl�ice�s gzv�n.
<br /> tlnless Lender and Borrower otherwise agree xn writing, any applicatifln of pr�ceeds to pr�ncipal sha11 no��xtend
<br /> or pos�pone�he due date�f the payments due under�he Cflntract or�hange�he amoun�of the payments. �f und�r
<br /> the sec�zon titled Accelerati�n; Remed�es, the Property is acqu�r�d by Lender, Barrawer's righ�to any insurance
<br /> poli�ies and praceeds resul�ing fram damag� to the Properry prior�o the acquisi�ion shall pass �� Lender �o the
<br /> e�tent of the sums secur�d b��h�s Se�urity Instrument irnmediately pr�or�o�he acquisit��n.
<br /> Preser�ation, Mainte�an�� and Prot��tian of the Property; B�rrower's Loan App���ation; Lea�ehvlds.
<br /> Barrnwer shali not destroy, damage or�mpa�r the Prflper�y, al�aw�he Property�o de�eriarate, or c�mmi�vvas�� an
<br /> the Prop��-t�.B�rrower shall be in default if any forfexture a�tion ar proceedxng,whether civil ar cr�m�nai,is begun
<br /> �ha� in Lender's gafld faith j udgmen� cou�d result in farfeiture of�h� Property ar othervsrise mat�r�a�ly �mpair�he
<br /> lren created by �hzs Secur�ty �ns�rument or Lender's security i.nter�s�. Borrovver may cure such a defa.ul� and
<br /> reinstat�, as pro�ided in se��ion titled Borrower's Righ�to ReinState, hy caus�ng the a�t�on or proceeding to be
<br /> dismissed with a rul�ng that, in Lender's gaad faith de�ermination,pr�cludes f�rfe��ure of�he Borr�v�er's in�eres��n
<br /> �he Proper�y or o�her material impa�rment of the l�en crea�ed by �h�s Securi�y 7nstrumezat or Lender's secur��y
<br /> �nteres�.Borrawer sha��a�so be in d�fau�t if Borrower,during the loan applicat��n pro�ess,gave ma�er�ally fa�se or
<br /> ina��ura�e informa�ion or statemen�s to Lender �or failed �a pr�vide Lender wi�h any materia� informa�ion} in
<br /> �onnection with�he Iaan ���denced by�he Contract. �f th�s 5ecuri�y rns�rumen� �s on a �easehold, �orrower shal�
<br /> comply with a�I�he prov�s�ans af�he�ease. �f Borrower acquires fee title to the Prflperty,�he leasehold and�he fee
<br /> tit�e shal�nat merge unless Lender agrees to th.�merger in writu�g. �
<br /> Protect�on of Lender's Rights in the Property. If Borrower fai�s t� perform �he covenan�s a,r�d agreements
<br /> con�axned in�h�s Security Instrumen�, or there is a Iega�proceed�ng�hat may s�gn�f�can�Iy affect Lender's rights �n
<br /> the Property �such as a proc�eding zn bankruptcy, probate, for condemna�ion or forfeiture or�o enfor�e Iaws or
<br /> regulations}, then Lender may do and pay f�r v�rha�ewer �s necessary �o protec� th� value of�he Pr�p�rty and
<br /> Lender's rights zn the Proper�y. LenderTs actions may include paying any sums secured by a lien whi�h has pr�or��y
<br /> o�er th�s Security Znstrum�nt, appearing in cour�,paying reasonab�e at�arneys'fees and entering vn�he Froper�y to
<br /> make repairs.Although Len�er may�ak�action under this sectian,Lender does not hav��a da so.
<br /> An� amounts d�sbursed by Lender under this section sha�l become additianal debt flf Barravs�er s�cured by �his
<br /> �ecurity �nstrumen�. Unless Bflrrower and Lender agree to o��.er terms of payment, these amoun�s sha�� bear
<br /> C�3�444-20I4 Gompliar�ce Systems,Inc.FD64-ASFA-2Dt3L2.10,1.895
<br /> Consumer Real Estate-Security Instrument DL2�3b Pa�e 2 of 5 www.coznpliar�cesystems.com
<br />
|