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��15��44�
<br /> App�xcat��n of Pa�ments. �[Jnless Applica��� Lav�pro�ides o�herwxse, a1�payments r�cexved by Lender sha��b�
<br /> appl�ed: firs�, to an}�prepaymen� charges due und�r the Note; second, to interest due; �hird, ta principal �ue; and
<br /> Ias�,�o any�ate�harges due under the Note.
<br /> �harges; Lxens. Barrow�r shall pay al� �ax�s, ass�ssm�n�s, charges, fnes and zmposi�ions attribu�able to �he
<br /> Property which may at�ain�r�arxty o�er this Securit� rnstr�umen�, and leas�hald paymen�s or ground rents, �f any.
<br /> Borrower sha�I pay these o�liga�i�ns �n tim� and direc�ly to�h�person owed paymen�. A�the request of Lender,
<br /> BorroWer shall promptly fur.�ish�o Lerzder receip�s e�idencing the payments.
<br /> Borro�ver shall promp�l� dzscharge a.ny �ien vvhich has priori�y ov�r th�s S�cur�ty �nstrument unless Barrovver: (a}
<br /> agrees in wri�ing �o the pa�m�n� of�he obligation secured �by th� �ien i� a manner acceptab�e to Lender; �b�
<br /> �ontests �n. gaod faith the Iien by, or defends against enforcemen� of�he �ien in, lega� proc�ed�ngs whi�h zn�he
<br /> Lender's apinion opera�e �o pre�en� �he enfarcement of the ��en; �r �c} secures from the holder af the lien� an
<br /> agreem.ent sa��sfac�ory to Lend�r subord�nating�he Iien to this Secur�ty �nstrumen�. �f Lender dete�.nines that any
<br /> part of�he Proper�y is sub��ct to a Iien wh��h ma� a�tain priority a�er this Security rnstrument, L�nder may giv�
<br /> Barrflvver a no�ice identifyi�g�he �ien. B�rrawer s.hal� sa��sfy�he �ien or take one or more of�he ac�ions set for�h
<br /> a���e w��hxn I 4 days of�he�i��ng of notice.
<br /> Hazard or Praperty Insur�nce. Borrower shal�keep�he �mpro�ements naw ex�sting or hereafter erected on the
<br /> Prop�rry�nsured agains�loss by f re,hazards in��u�ed within�he term"ex�ended coverage" and any��her hazards,
<br /> �ncluding fl�ods or flood�ng, for which Lender r�quires insurance. This insuran�e shal� �e main�a�ned �n the
<br /> amounts and for the periods that Lender requ�res. The insurance carrier prfl��ding the insuran�e shall be chosen by
<br /> Bflrrovver subject ta L�nder's appro�al wh�ch shall no� be unreasanably �ithheld. If Borrower fails to ma�n�a�n
<br /> cQ�erage descr�be� abv�e, Lender may, a� L�nder's op��on, abtain coverage �o pro�ec� Lender's righ�s in the
<br /> Property in a�cordance with secti�n ti�Ied Pro�ect��n of Lender's Rights�n�he Prapert�.
<br /> A�l insurance policies and r�n�wals shall be accep�able to L�nder and shal� include a s�andard m�r�gage clause.
<br /> Lender sha�l have�he right to hold the po�ic�es and renewals. �f Lender requires, Borrower shall promp�Iy gi�e to
<br /> Lender alI recexp�s af pa�d prem�ums and renewai n�tices. In�he even�of�oss, Borrov�er shall give promp�notice
<br /> ta the�nsurance carrier and Lender.Lender may make praof of�oss if no�made promptly by Borravver.
<br /> Unless Lender and Borrov�er o�her�v�se agr�e zn writ�ng, �nsurance proceeds shall be app��ed ta rest�rat�o�. or
<br /> repair of the Praper�y damaged, �f, in Lender's sole discretion, the restorat�on or repa�.r �s ec�nomica��y feasi��e
<br /> and Lender's secur�ty is not �essened. If, �n LenderYs sale discre�ion, the restorat�on or repair is no� �conom�ca��y
<br /> feas�ble or Lender's se�urzty w�uld be Iessened,th�insurance pr�c�eds sha��be applied to the sums secured by this
<br /> Security rnsfirumen�, whe�h�r or no� then due, with any excess paid �o Borrower. rf Borrower abandons the
<br /> Property,or does no�ansvver wi�hin�he number vf days prescr�bed by Applicable Lav�as set for�h in a notice from
<br /> Lender to B�rrower�ha��he insurance carrier has offer�d�o set��e a claim, �hen Lend�r may collec��he �nsuran�e
<br /> proceeds. L�nd�r may use �he pro��eds to repair or res�or� th� Pr�perry or to pay sums secured by�his Securi�y
<br /> Instrumen�,whether or no��en due. The period of�ime far Borrovs�er to ansvver as set forth�n the notice will��gin
<br /> v�hen�he na��ce�s gxv�n.
<br /> ZTnl�ss Lender and Barrower otherwise agre� in vv�i�ing, any app�ica�ion of proceeds�a principa� sha�l not ex�end
<br /> or postpane the due da�e of�he payments referred to in �he section tr�Ied Payment of Principa� and Interest;
<br /> Prepayment �nd Late Charges ar change the amaunt of�h�payments. rf under the sec��on t�t�ed A�celeratifln;
<br /> Rem�dze�, the Proper�y is a�quired l�y Lender, Barrower's right�o any �nsurance po��c�es and pro��eds resu�ting
<br /> from damage�o the Proper�y priflr to the acquisi�i�n sha��pass to Lender to�he ex�ent of th� sums secured by thrs
<br /> Securi�y�nstrument imme�iate�y prior�o�he acquisi�ion.
<br /> Preser�ation, Main�enance and Pratec�ion of the Property; Borrovv�r's Laan Appli�atzvn; Leaseholds.
<br /> B�rr�wer shall n��d�stray, damage or impair�he Proper�y, allovv the Proper�y�o deteriorate, or comm�t waste on
<br /> �he Properry.Barra,wer sha11 be in default if any forfeiture act�on or pr�c�eding,whether c�vil�r�rxminal,is begun
<br /> tha� �n Lender's good fa�th judgmen� cau�d result �n fo�fe�ture of�he Properry or otherw�se materially impair the
<br /> l�en created by this Secur�� znstrument or Lender's securi� interest. B�rrower may cure such a defaul� and
<br /> reins�a�e, as pr��ided �n section���Ied Borrower's Right to l�e�ns�ate, by caus�ng�he a��ian or pr�ceedir�g�o be
<br /> dismrssed���h a ruling that, in Lender's good faith�e�erm�na��an,pre��udes forfei�ure of�h�Borrov��r's�n�erest in
<br /> �he Praperty or oth�r mater�al impairmen� af�he �ien �rea�ed by �h�s Security Instrument or Lender's security
<br /> in��res�.B�rrawer sha�l a1s��e in defaul��f Borrawer,during the�oan app��ca�i�n pra�ess,gave materia��y false or
<br /> �nac�ura�e infarma��on ar sta�ements t� Lender �or faiied �o provide Lender wi�h any ma�er�al inf�rmatifln} in
<br /> conne�t�on v�ith the loan e�idenced b� the N��e. If�his Security �nstrument is on a leasehold, Borr�wer shall
<br /> comply w��h all the provis�ons af�h� lease. �f�orravver acquires fee�xt�e t�the Proper�y,the�easehoid and�he fee
<br /> t�tle sha�l not merge unless L�nder agrees�o�he merger i.n wr�ting.
<br /> Protection of Lender�s Rights in the Prvper�y. If Bflrrower fails �o perform t�ae covenants and agreemen�s
<br /> con�ained rn th�s S��urity�nstrumen�, or�here is a l�ga�pro�e�ding that may sign�f cant�y affect Lender's rrgh�s in
<br /> �he Praperty �such as a proc�eding 7n bankrup�cy, probate, for c�ndemnat��n or forfeiture �r to enforce 1av�s or
<br /> r�gu�a�ions�, �hen Lender rr�ay do and pay for �ha�e�er is necessary �o pratec� the value of�he Prope�.y and
<br /> Lender's righ�s in the Property. Lender's ac�ions ma�include paying any sums secured by a�xen vvhz�h has pri�ri�y
<br /> �ver�his Secur�ty Instrument, appearing�n�our�,paying reasonable attnrne�s'fees and en�errng an�he Proper�y�o
<br /> ma1�e repairs.A�though Lend�r may take a��ion und�r�his sectifln,Lend�r does na�ha�e to dQ so.
<br /> Any amoun�s disbursed by Lender under this sec��on sha�l become addi�ianal deh� of Borrawer secured by this
<br /> Se�urity Instrument. Un�ess Borro�ver and Lender agree to other terms of payment, �hese amoun�s sha�� bear
<br /> C�20�4-2414 Compliance Systems,Inc.FD54-355A-2D13L2.I�.I.89S
<br /> Cans�mer Reai Estate-Security Instrument DL2435 Page 2 af 6 www.�omplian�esystems.com
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