|
Z�15��975
<br /> Borravver warrants and wil� defend genera��y�he ti��e t4 �he Property agains�a�l claims and ��mands, sub�ect ta
<br /> an�encumbrances af reG�rd.
<br /> �orrower and Lender cav�nant and agree as follows:
<br /> Pa�ment of Principa�and In�erest; �ther�harg�s.Barrower sha�l promptly pay when du�the prin�ipa��f and
<br /> interes�fln the debt owed under�he�ontract and late charges or any other fees and charges due under the�ontract.
<br /> Applicable Law. As used in this Se�ur�ty Ins�r��nent, the term "Appli�ab�e Law" sha�l mean ai� contro�ling
<br /> applicab�e federal, state and 1�cal statut�s, regu�ations, ord�.nances and admin�s�ratr�e rules and arders ��ha�have
<br /> �he effect�f law}as we�I as��l appli�ab��f na�,n�n-ap�ea�a�Ie�ud�c�al�pinians.
<br /> Charge�; Yliens. B�rrower sha�l pay a�l taxes, a�s�ssm�nts, charges, fines and imp�si�ions attribu�able to the
<br /> Property wh�ch may a�ta�n pr�ority over this Se�urity�ns�rument, and Ieasehald paymen�s or ground rents, �f any.
<br /> A�the r�quest of Lender,Ba�-rower shall prompt�y furn�sh to Lender rec�zp�s ev��en�ing�h�paymen�s,
<br /> Borrower shal�prornpt�y dis�harge any lien which has pr�ar�fiy ov�r th�s Securxty Ins�ru.m�nt unless Barrovver: �a}
<br /> agrees �n wri�ing ta �h.� paym�n� �f�he vbligatian secured �y the Iien in a manner acceptable �o L�nder; �h}
<br /> cflntests in go�d fa��h �he ���n by, or defends against enforcement of the lien in, Iegal procee��ngs wh�ch �n the
<br /> Lender's opinion operat� to prev en� �he enf�rcement of th� �ien; or �c} s�cure� from the holder of�he li�n an
<br /> agr�emen�satisfactory�o Lender subordinating�h� Iien to this Secur�ty Instrument. 7f Lender determines�hat any
<br /> par�vf the Property �s subje�t to a lien whi�h may a�tain priarity over�h.�s Secur��y �ns�rurn�n�, Lender rnay give
<br /> Borrower a no�ice identif�rxng�he lien. B�rr�v�er shal�satisfy the l�en or�ake one ar mare of the act�ans se�for�h
<br /> aba�e vvi�hin 1�days af�he gzvi�.g af natice.
<br /> Hazard vr Praperty Insurance.Borro�ver shall keep the�mprovem�nts now exis�ing or h�reafter erected on the
<br /> Property insured agains�Ioss�y f re,ha2ards in�lud�d�ithxn the��rm"�xtemded�o�erage"and any�th�r hazards,
<br /> including f�oods or flo�ding, for vcrhich Lender r�quires insuranc�. This insurance sha�I be ma�ntained irr �he
<br /> arnaunts and far the periads�ha�Lender requires.The�nsurance�arri�r providing�he�nsurance shall be�h�sen b�
<br /> Borr�vcrer subject to Lender's appraval v�hich shall nat be unreasonab�� wi�hhe�d. If Barrower fa��s �o maintain
<br /> coverage d�scribed abave, Lender may, at Lender's ap�ivn, ab�axn coverage �o prote�t Lender's righ�s in the
<br /> Property ix�accordance with�ection�itled Prat�ction�f Lender's Righ�s in the Propert3r.
<br /> A�I �nsurance po�ic�es and r�ne�vals shal� be a�cep�able to L�nder and shall �nclud� a s�andard mor�gage clause.
<br /> L�nder shali have the r�gh�to hold the polrcies and renewals. �f Lender reyu�res,Bor�ower shall pr�mptly gzve�o
<br /> Lender all receip�s of paxd premiums and r�n�wal not�ces. In the �ven�of���s7 Borrower shail gi�e prampt n���ce
<br /> �o�he insurance carrier and Lender.Lender may make proof�f�oss if no�made promp��y by Borrower.
<br /> Unless Lender and Borr�v�►�r otherwise agree �n wr�t�ng, znsuran�e pr��e�ds shal� be appl�ed ta rest�ra�i�n or
<br /> repair of�he Prflpert�y damaged, if, �n Lender's sole discret�on, �he rest�ra��on �r repair i� econorni�al�y feas�bie
<br /> and Lender's securxty is not �essened. �f, in Lender's �ole discretion, the restoratian or r�pair �s nat ecflnam�cal�y
<br /> feasib�e or Lender's securx�y wauld b��essened,the�nsurance praceeds shall be applied�o the sums secured by this
<br /> 5�curi� �nstrument, �vhether or not then due, wz�h any excess pa�d to �orrov�er. �f Borr�wer aband�ns the
<br /> Prop�rty,ar do�s n�t answer wxth�n the numb�r of days pr�scribed by App�icable Law as set forth in a nati��firom
<br /> Lender to Borr�wer that�he insurance carrr�r has offered to set�le a c�ai�n,�hen Lender may cvilec�the insuran�e
<br /> prac�eds. Lender rnay use the proceeds to r�pair or rest�re the Property or�o pay sums s�cured b�th�s Securi�y
<br /> Instrument,whether or not then due.The period of t�rne f�r Borr�v�er�a ansvver as se�f�rth in�he nat�ce w�ll begin
<br /> when the notice is gi�en.
<br /> Un�e�s Lender and Borrflwer othervvise agree in wr���ng, an�applica��on�f praceeds to prin��pa1 shall no�extend
<br /> or postpane�he due da�e af the paymen�s due under the Contract or chang�the amount af the paymen�s. If under
<br /> the sec�ian�itled A����eration; R�medies,the Properry is acquired by Lender,Borrovv�r's right to any�nsurance
<br /> polic�es and praceeds result�ng firom damage t� �h� Praper�y prior to the acquisition shall pass ta Lender to the
<br /> extent�f the sums secured�y this Securi�y�nstrumen�ualmediately prior�a�he acquisitian,
<br /> Pre�erva�ian, Maintenanc� and Protec�ion af �he Property; Borrower{s Loan Application; Leasehald�.
<br /> B�rrov�er shall n�t d�stroy, damage or impa�r the Property, a�Iov��he Praperty t�deteriorat�, ar c�rnmit wast�on
<br /> the Property.B�rrov�er sha�l be in defaul�if any forfe��ure act�on or proceeding,whe�her ci�i1 or cr�m�nal,i���gun
<br /> that in LenderTs g�od fa�th�udgmen�c�uld r�su�� in f�rfeiture of the Property ar othervvise ma�er�al�y impair the
<br /> Iien crea�ed by thrs S�curity �nstrument �r Lender's security interest. Borrov�rer ma� cure such a default and
<br /> re�nstate, as pra�ided in section t�t�ed B�r�ow�r's Right�o Re�n��ate, by causing the ac��an or proceed�ng�a b�
<br /> d�srn�ssed wi�h a ru�ing that,�n Lender's g�ad faith determinati�n,precludes forfeiture of t�e Sorrovver's�n�eres��n
<br /> the Pr�per�y ar other rna�er�a� irnpairment of�he lien created by �his Secu.rity Instrument or Lender's security
<br /> in�erest.Barrovver shall als❑be in default if Borravv�r,d�r�ng the loan applica���n process,gave material��false�r
<br /> znaccurate inforrnat�on or sta�emen�s to Lender �or failed �o provide Lenc�er with any mater�al informat��n� in
<br /> connec��on with th� loan e��denced by the C�r��ract. If�his Se�ur��y Inst�-ument is on a leas�ha�d, Barrower shall
<br /> comply with a���he pro�is�ons of�he lease, �f B�rr�wer acquires fee ti�le to�h�Pr�perty,�he Ieaseho�d and the fee
<br /> tit�e shall no�merg�unles�Lender agr�es�o�he merg�r�n writing.
<br /> Prote�tivn af Lender's R�ghts in the Praper�y, zf Borro�wer faxls �o perf�rm the covenants ar�d agreernen�s
<br /> contaaned in�his S�curit�Ins�rument, or there�s a lega�proceeding that may s�gnif�antly affec�Lender's rights in
<br /> �.he Property �such as a proceeding in bankrup�cy, proba�e, far condemnation ar forfeiture or�� enf�rce �a�s or
<br /> regula��ons}, then Lender rnay do and pay for whatever is ne�essary �o protect �he �alue of�he Praper�y and
<br /> Lender's rights in.the Propert�. Lender's a��ions may include paying any surns secured by a�ien wh�ch has priflr��
<br /> Cc�24Q4-2�14 Compliance Systerns,Inc.�'D54-7G9D-2013L2.10.1.895
<br /> Consumer Real Estate-Se�urity Instrument DL2�35 Page 2 of 5 WWW.Cpri7�7�i�F1Ce53+5$P.Si75.CQ[ri
<br />
|