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Z�15�5156
<br /> Paymen�af Fr�nc�pa�and Inter�s�; ��h�r Charges.Borra�er shal�promp�Iy pay when du�the principal of and
<br /> interest on�he deb�ovved under the Contract an�late charges or any�ther f�es and charges due un��r the Con#rac�. �
<br /> Applicable Law. As use� in thrs S�curity �nstrument, the t�rm "Applicable Law" shall rnean a�� con�r���i.ng -
<br /> app�icabte federal, state and Io�a1 statutes, regula�ions, ardrnances and administrati�e rules and arders �that have ^
<br /> the effect of law�as well as aIl appl�cab�e fnal,non-appealable judi�ial apinions. �
<br /> �harge�; Lier��, Borro�er �ha�� pay all taxes, assessrnen�s, �harges, fines and impositzans a�r�bu�abXe to th.e �
<br /> Property which may attain prior�ty o�er thzs Securi�y�nstrum�nt, and leasehold payments or gr�und ren�s, �f any. �
<br /> A��.h�request of Lender,Bar�r��ver shall promptly furnish to Lender receipts��idencing the payments. _
<br /> Borrower shaXl promp�Iy discharge any ��en v�hich has priority over�his 5ecurity Instrument unless Borrovver: �a} ,
<br /> agrees in v�rit�ng to the payment of the obligat�on secured b� �he �z�n zn a manner accep�abl� to Lender; �b�
<br /> cont�sts in good faith the 1i�n by, ❑r defends agains�t enforcemen� of�he Iien in, �egal proceecU.ngs v�hich in�he .
<br /> Lender's apinion op�rate to pre�rent �he enforcement of�he 1ien; or �c} secures fr�m the holder af�he lien an
<br /> agre�me�at satisfact�ry to Lend�r subard�inat�ng�he lien t�this Security Instrument. �f Lender�etermines�hat any
<br /> �ar��f th� Property �s subject�o a li�n whi�h may at���n priori�y �v�r�his Se�urity�nstrument, Lender rnay gi�e
<br /> Borrower a notice iden�ifying the li�n. Barrower shall sa�isfy�he �ien ar take one or more of the a�tions set f�r�h
<br /> above within 14 days of�he giving of nflti�e.
<br /> Hazard or Property Insurance. Borrower shall keep th� �mprovemen�s now existing or hereafter erected on the
<br /> Pr�p�r�y insur�d against Iass by f re,hazards�ncluded vvithin the�erm"ex�ended co�erage" and any ather hazards,
<br /> inc�uding f�aads or flaading, fflr whi�h Lender r�quires insurance. This �nsuranc� shall be main�a�ned in �he
<br /> amounts an�.f�r the periods that Lender requ�r�s. The insuran�e carrier pro�iding the�nsurance shal�be ch�sen by
<br /> Borrav`rer sub�ect to Lend�r's appro�al which shali not be unreas�nably withheld. If Barrow�r fa��s �o maintain
<br /> ��verage described above, Lender may, a� Lender's option, obtain coverag� to protect Lender's rig�ts ip the
<br /> Pr�per�y i.n a�cordance v����h se�tian ti��ed Prote���an o�Lender��Rights�n the Property.
<br /> Al� insurance pal��zes and renewals shall �� accep�able �o Lender and shali include a standard mor�gage �lause.
<br /> Lender sha�l have the right�o ho�d�he policies and renewals. Zf Lender requires,Borr�v�er shall pramp���g�ve to
<br /> Lender a�l rec�ipts of pa�d premi�ns and rene�al noti�es. In th�e�ent of lass,B�rro�v�rer shall gi�e promp�no�ice
<br /> to the in�uran�e carrier and L.ender.Lender may make�roof of�oss�f not made promp�ly by Barrower.
<br /> Unless L�nder and Barrawer o�herwise agree in wr�ting, insurance praceeds sha�I be applied �o, res�orat�on or
<br /> repair af�he Prflper�y damaged, if, in Lender's sole d�s�ret�on, the res�oratian or repa�r is econornically feasible
<br /> and Lender's security is not less�ned. �f, in L�nd�r's s�le discret�on, �he restoration or repa�r is not economically
<br /> feas�b�e ar Lend�r's securi��wauld be lessened,the znsuranGe proceeds sha11 be app�zed tfl the surns secured by�his �
<br /> Security �ns�.rwnent, whe�her �r nat then due, with any �x�ess pa�d to Borr�W�r. If Borrower abandons �he
<br /> Pr�perty,or does not ansv�rer withi.ri th�number of days prescribed by Ap����ab1e Law a�set fQr�h in a nfl�ice fr�m
<br /> Lender�o B�rrower tha��he insurance carrier has�ffered to se��le a claim,then Lender ma�col�e���he insuranc�
<br /> praceeds. L�nder may use �he proceeds to repair or restore �he Proper�y or�a pay sums secured�y�his Security
<br /> Ir�strumen�,v�he�her or not�h�n due.The perx�d of time far Borrower��ansvver as set forth�n�he n�tice wi�I begin
<br /> when the nat��e is g���n.
<br /> Unless Lender and Borrov►ler��herwise agree in�rit�ng, any applica�ion of proceeds to principai shal�nat ex�end
<br /> or postpone�he due da�e of�he payments due under the Con�ra�t or change the amount flf�he paym�nts. �f und�r
<br /> �he section txt�ed Ac�eleratian; Remedies,the Property is acquired by Lend�r, Borrower's right�o any�nsuran�e
<br /> po�icies and proceed� resu�ting from damage to the Property prior�o#he acqu�s��ion shall pass to Lender�o the
<br /> extent�f the sums secured by th�s Secu�ity�nstrument�rnmedia�ely prior to the acquisition.
<br /> Preser��tion, Main�enance and Pr�tection af the Property; Borrower�s Laan App���atxon; Leaseholds.
<br /> Bnrrawer sha�l no�destray, damage ar impair�he Prnper�y, allo��the Praper�y�o deteriora�e, ar c�rnmi��aste on
<br /> �he Property.Barravver sha�l be in defau�t if any farfeiture ac�ion or pro�eedinb,v��h�ther civi�ar cr�minal,is begun
<br /> that in L�nder's good fai�h judgment could resu�t�n fflrfei�ure of the Property or ��herwise materially impair the
<br /> lien �reated by �his S�curit�r Instrument or Lender's securi� in�er�st. Borrovv�r rnay �ure such a defau�� and
<br /> reins�a�e, as pravided irz��c�i�n��t�ed Borrawer's Right ta R�ir�sta�e,b�T�ausing th� action o�proceed�ng to be
<br /> d�smissed wi�th a ruling that, in Lender's good faith d�termina��on,pr�c�udes��rfeiture of the Borr�wer's in�erest in
<br /> �he Proper�y ar ��her rnaterial impairmen� of the lien cxeated by this Secur�ty 7nstrument vr Lender's security
<br /> inter�st.�vrrower sha��also be�n default if B�rrawer,durxng the Ioan applica��on process,gave rnaterially fa�se or
<br /> �naccurat� information ar s�atern�n�s �a Lender �or faxled to pr�vid� Lender wzth any ma�eria� information) in
<br /> �onnection with the I�an ev�denc�d by�he Contract. �f this Security�ns�rument�s on a leaseho�d, Borrow�r shall
<br /> campl�v�i�h aII�h�pro��sions of the lease.�f Borrflw�r acquires fee�it�e to the Property,the�easeha�d and th�f�e
<br /> title shal�not merge unless Lender agrees to the merger in wr�t�ng.
<br /> Pr�tec�ion �f L�nder's Righ�s �n #he Property. 7f Borrov�er fails �o perform th� co�renan�s and agreements
<br /> contained in�his Security�nstrument, or there is a�ega�pra�eeding tha�may signif cantly affe�t Lender's righ�s in
<br /> �he Prop�rty �such as a proceeding �n bankrup�cy, probate, for cond�mnatian or farfeiture or�o enforce �aws or
<br /> regulations}, then Lender ma� do and pay f�r v►rhatever �s necessary �� pratect the value of the Property and
<br /> L�nder's rxgh�s in the Praperty. Lender's actions may�n�lude paying any sums se�ured by a lx�n whi�h has priorz�y
<br /> over�his Secur�ty Instrument, appear�ng in court,paying reasonable a�torneys'fees and en�ering an�he Propex�y to
<br /> mak�repairs.Although Lender ma�take a�tion under th�s sectian,Lender daes no�have�o do so.
<br /> Any amoun�s disbursed by Lender under this section shali b�come addi�xanai debt of Borraurer s�cured b� this
<br /> Securit�� Znstrurnent. Unless Borrvvver and Lender agree to o�her �erms of payment, thes� amaun�s sha�l bear
<br /> C�2004-2414�omplianG�Systems,Inc.�D6�-SR4B-2d13L2.10.1.8g5
<br /> Consurner Real Estate-5ecurity Instrument DL2435 Pa�e 2 of 5 ww►��.campliancesystems.corn
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