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Z�15���51
<br /> Pa�men��of Principal and Interest; �ther Charges.Barro�er shal�prompt�y pa�ulhen due�he princ�pa�af and
<br /> interes�an the de�t�wed under the Contract and la�e charges or any o�her fees and charges due under�he�antrac�,
<br /> Appli�abl� Law. A� used in �hxs Secu�r�ty �nstrurnent, �he term "Applicable Law" shall rnean all c�ntrol��.ng
<br /> applicab�e federal, state and lo�ai statu�es, regulat�ons, ardinances and adminzstrat��� rules and arders �that ha�e
<br /> �he effec�t�f lavv}as vvell as a�l applicable fina�,n�n-appea�able ju�icial opinions.
<br /> �harges; L�ens. Barra�ver shall pay a1I �axes, assessments, charges, fnes and impQsitions attribu�ab�e �o the
<br /> Property which may a�tain pri�rity ov�r th�s Secur��y�nstrurnen�, and�easeho�d payments or graund ren�s, if any.
<br /> At the re{quest of Lender,Borrov�er shal�prampt�y furnish�to Lend�r r�ce�pts e�idenc�ng the payment�.
<br /> Borrovve�r sha�l�rornptly discharge any lzen v�hzch has pr�orrt�av�r th�s Security�n�trument unless Borrflv�er: (a}
<br /> agr��s in wr���ng �o �he payment of the obiigati�n secured by the Iien �n a manner acceptable t� Lender; �b}
<br /> con�es�s in. ga�d fa�th the �ien�y, or defends against enforcement af the lzen in, ��gai proceedings which in �he
<br /> Lender's opinion operate to pre�ent the enfo�cem�nt af�he l�en; or �c� secures fr�m the holder �f the 1x�n an
<br /> agreemer�t sa�isfa�tory�o Lender subordinating�he ��en to�his Secur�ty�nstrumen�. If Lender de�ermines�ha�any
<br /> par� af�.he Pr�p�rty i.s subj�ct ta a lxen vvhi.ch may a�ain priority�ver this Se�uri�Ins�rurnen�, Le�der rnay give
<br /> Barr�we.r a notice identifying the lien. Borr�v�er sha�l sat�sfy the �ie�.�r�al�e one or more af the actians set for�h
<br /> above within 1�days af the giving af n�ti�e.
<br /> Hazard or Praperty Insurance.Borro�er sha��keep�he impravem�nts nov�ex�stin�or her�after�re��ed an�he
<br /> Property�nsured against loss by f re,ha.zards inciuded wi�hzn�he��rrr�"extended coverage"and any other hazards,
<br /> zncludin�; f�oods or �.00ding, for ti�hich Lend�r r�quires insurance. This �nsurance sha�� he maintained in �he
<br /> am�un�s and for the per�ods tha�L�nd�r requ�res.Th�insuranc��arrier provid�ng the insurance shall be chosen b�
<br /> Borrtiwe:r subj�ct �o Lender's approval which shall n�t be unreasonably w��hhe�d. If Borrow�r fails ta main�ain
<br /> c��erage described above, Lender may, at Lender's option, ob�ain co�erage �o pro�ect Lender's r�gh�s in the
<br /> Prflper�y rn a�cordance with section���led Pr�tect�on flf L�n�er's Righ�s in the Property.
<br /> AIl insurance pol�c�es and renev�als shall be accep�able�t� Lender and sha11 includ� a standard mor�gag� clause.
<br /> Lender s:ha�l ha�e the righ�tfl hold the p�licies a�d renevvals. If Lender requ�ares,Borrower shall pramptly g�ve ta
<br /> Lend�r a1�rece�pts�f pard premiums and ren�wa�n��ic�s. �n the event af loss, Borrawer sha��g��re prompt notYce
<br /> to tihe insurance carr�er and Lender.Lender may make proaf of�ass if no�made promptly by Barrower.
<br /> Unless L,ende� and Borr�v��r fl�herwise agree in writing, insurance proceeds shall be applied to re�toratzon Q�
<br /> repair flf the Pro�erry damaged, if, i.n Lender's s�le �iscretion, the r�stflra�ian ar r�pa�r �s �canomically feasible
<br /> and Lender's secur�ty is no� l�ssened. If, �n Lender's �o�e discretion, th�restora�ian or repair is not economica��y
<br /> feasible or Lender's s�curity would be Iessened,�h��nsurance proceeds shall be appl��d to the surns secured by this
<br /> Security Instrumen�, whether or n�� then due, v�ith any ex�ess paid ta Bflrrower. If Borr�vv�r a6andans the
<br /> Pr�per�,ar daes na�ansvver W��hin the number af days pr�scr�bed by Applicabl�Law as set forth in a n�tice from
<br /> Lender�o Borro�ver that the insuran�e carrier has❑ffered t�settle a claim,then Lender may c�llect the insuran�e
<br /> pr�ceeds. Lender may use the proceeds�o repaxr or restore the Prap�r�y or�o pay surns secured�yr�hxs Securxty
<br /> �nstrume�r��,v�rhe�her ar na��herz due.The peri�d af time for Borrower to ansvver as set forth in the no�ice will begin
<br /> �rhen�he no�i�e is given.
<br /> Unless Lender and Borrov��r o�h�rwis� agree in vvr�t�ng, any appl��ation of proceeds ta pr�ncipal shall not��tend
<br /> or postpone�he due date af the paymen�s due u�ta.der�he Can�ra�t ar change�he amount of the payments. If under
<br /> the sectxon�itled Acc�teration; Remedies,the Proper�y �s a�quired by Lender,Borrower's r�ght�a any insuran�e
<br /> policies and proceeds resulting from damage �o the Proper�y priar to the acquis��ion shal� pass to Lender�o the
<br /> e��ent of the sums secured by th�s Securzty�ns�rument irnmediately pr�ar#o�he a�quisi�ifln.
<br /> Pres�rva���on, iVlain��nance and Prat�ction �f the Property; Borro�v�r's Laan App�ication� Leasehnlds.
<br /> Borrower shai�no�destroy, damage�r impair the Pr�per�y, a��ov�the Property�o deteri�ra�e, ar commi�was�e an
<br /> the Proper�y.Borrovver shall be in defau���f any forfeiture ac�ion or pro�eed�ng,v�hether cz�il or crim�nai,is begun
<br /> tha� in L�nder's �a�d faith�udgment c�uld resul� in forfei�ure of�he Fropexty or otherwise materia�ly impair�he
<br /> lien created b� th�s Se�urity �nstrument or Lender's secur�ty in�eres�, Borrovver may cure such a default and
<br /> r�i.n.state, as pro�ided in sec�ion�i�Ied Bo�-rower's Right�a Reins�ate, by causing�he ac��an flr proceeding�o be �
<br /> dismissed w�th a ru�ing tha�, in Lender's good faith de�erminatxon,pre�Iudes farfeiture of the Sorrativer's int�rest in
<br /> �he Prop�rt�� ar ��her ma�erial impairment af the i��n cr�ated by this Security �ns�rument ar Lender's s�curity
<br /> interest,Borrower shal�also be in default if Borrow�r,durxng th�loan applicati�n pra�ess,gave materially false or
<br /> ina�curate informati�n or s�a��m�nts ta Lender �or fa���d �o pr��id� Lender w�th an� ma�erial informatian} zn
<br /> conn�ctio�a v�ith the loan ev�den�ed by the Cantract. If this Security �n�trument i� on a l�as�hoid, �arrow�r shall
<br /> comply v�ith all the pra�is�ons af�h�lease.If Barrow�r acquir�s fee��t�e�o the Proper�}T,the Ieasehold and the fee
<br /> ti�1e shail no�merge unless Lender agrees ta�he merger in writing.
<br /> Pro�ecti�n of Lender's Rights �n the Pr�p�r�y. �f Borrow�r fails to p�rform the covenants a�.d agreements
<br /> �on�a�nec�in�his Security rnstrumen�,or�here i� a legal proceed�ng��at may significantly affect Lend�r's righ�s in
<br /> the Pr�per�y �such as a proceed�n� �n bankrupt�y, proba�e, for condemna�i�n or forfei�ure or�o enforce Iaws or
<br /> regu�atians�, then Lender may do and pay f�r �vvha�ever is necessar� �o proteG� �he va�ue �f th� Property and
<br /> Lender's�ghts in the Pr�perty.Lemder's ac��ons may inciude paying a�y sums secured hy a Iien wh�ch has priority
<br /> over this Securz��Instrumen�, appearing in c�ur�,paying reasonable a�tarneys'fees and en�ering an the Property ta
<br /> mak�repairs.Although Lender ma��a�c�ac�ion under th�s sectian,Lender d�es not have to d�sa.
<br /> Any amounts dzsbursed by L�nder under �his s�cti�n sha�l become add��iona� d�b� of Borr�vtrer secured b��his
<br /> Secur�tiy �nstrum�nt. Un��ss Borrovver and Lender agree �o o�her terms af payment, these amoun�s sha�� bear
<br /> {�2004-2�14 Carr3pliance 5ystems,�nc.�'Dd0-FBE7-2D13L2.1Q.1.895
<br /> Cansurizer Real Estate-Security�nstrurrtent I7L2D36 Page 2 vF 5 www,cornpiiancesystems.com
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