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��1 5�5666
<br /> Payment of Principal anc�Interest; Qther Charges. Borrower shall promp��y pay wh�n due�he principal of and
<br /> �nter�s�on�he deb�ow�d under the Contract and late charges or any other fees and charges due under the�antrac�.
<br /> Appli�able Law. As used in this Securi�y Ins�rument, �he t�rrn "Applicable �aw" sha1X mean a�� �an�ro���ng �
<br /> app�i�able federal, state and lo�ai statutes, regulat�ons, ardinances and admin�s�rativ�rul�s and arder� �that have
<br /> the eff�ct af�aw}as v��e��as a��applxcabl�fna1,n�n-appealable jud��ia�op�n�ons.
<br /> Charges; Liens. Borrower shall pay a11 �a�es, assessments, �harg�s, fines and irnpositi�ns at��ibutable to the �
<br /> Proper�whi�h ma�a�tain pr�ority aver�his Security�nstrument, and �easeho�d paymen�s �r grou�d rents, �f any.
<br /> At the requ�st af Lend�r,B�rro�ver shall pramptly fi.�r�-�ish to Lender receipts��idencing the payments.
<br /> Borr-�wer sha��pr�mpt�y discharge any lien v�rh�ch has priority over this Security Instrument unle�s B�rrov�er; �a}
<br /> agrees in �vri�ing �o the paym�nt af�he obliga��on secured by the �ien in a manner accep�able �o Lender; �b}
<br /> cont�st� in good fa�th �he lien by, ar defends agains� enf�rcement of the ��en in, �ega� proceed�ngs �rhich in �he
<br /> L�nder's opi.nion aperate ta preven� the enfarcement af the iien; ar (e} secures fr�m �he ha�der af�he �ien an
<br /> agreement satisfac�ory��Lender subord�nating the lien t�this �ecurity Instrument. �f Lender determines tha�any
<br /> par� �f�he Proper� �s sub�ect to a Iien�hrch may at�ain pr�arity aWer�h�.s Se�uri��nstrument, Lender m.ay give �
<br /> Barrower a not�ce ident�fying�he lien. Borraw�r shall satisfy the��en�r tak� ane�r mare of the ac�ions se�forth
<br /> abo�e within �D days af�he giv�ng of notice.
<br /> Ha�ard ar Property Insuran�e.Barrower shall keep the improvem�n�s nowr e��s�ing or hereafte�ere��ed on the
<br /> Proper�y�nsured against Iass by f re,hazards included vW��hixa�he term "extended coverag�"and any o�her ha2ards,
<br /> includi.ng floads or flooding, for which Lender requ�res insurance. Th�s insuran�e �ha�� be maintained �n the
<br /> amounts and for the periads that Lender requires.The in�urance carri.er providing the insurance shall he ch�sen by
<br /> Barrower su�ject �� Lender's appro�al whzch sha�I nat be unreasonab�y withheld. �f Borr�wer fa��s to �na�tain
<br /> coverage descri�ed above, Lender may, at Lender's op�ian, o�tain ��verag� to pr�t��t Lender's rights �n. th.e
<br /> Property in accardance with s�ctifln t�tled Pratection of Lender's Rights in�he Praperty.
<br /> All �n�urance polic�es and r�newals shaXl b� ac��pta�le �o L�nder and sha�l �nc�ude a s�andard n�ar�gage c�ause.
<br /> Lender shall have�h�right�o ho�d�he palicies and rene��als. If Lender requires,Bflrr�v�er shall promptly give to
<br /> Lender a11 receipts af paid premiums and rene�al na�ices. �n the e��nt af loss,Borrflwer sha�l give prompt na�ice
<br /> to the insurance carrrer and Le�.der.Lend�r may make proof�f�ass�f not mad�promptly by Barrower.
<br /> Unless Lender and Borrawer o�h�rwise agree in writing, insurance proceeds sha�l be applied �o restoratian or
<br /> repair of the Proper�y darnaged, if, in Lender's sole discre�inn, the restorati�n or repai.r is econom�cally feasible
<br /> and Lender's secur�� is not less�ned. �f, �n Lender's so�e discret�on, the restora�zon or repair is no�ec�nomical�y
<br /> feas�bie or Lend�r's securrty would be 1ess�ned,the insuranc�pro�eeds shall b�app�ied to�he sums secured by this
<br /> Se�uri�y �ns�rumen�, v�heth�r nr nat �hen due, with any �x�ess pa�d �o BorrQvver. If Borra�ver abandans the
<br /> Property, or d�es not ansvve�v�ithin�he number�f days prescxxbed by Appixcabie Law as set fflrth in a no�ice from
<br /> Lender�o Borrawer�ha��he insurance�arrier has offere�-to se�tle a claim, then Lender may�ollec�the insurance
<br /> prQceeds. Lender ma�use�he proceeds to repair or restore�he Proper�y or to pay sums secured by�his S�curi�y
<br /> Instrumen�,�hether�r not�hen due.The period of t�me for Borrawer�o ansWer as set for�h in�h�notice wii�begin
<br /> when th�n����e zs given.
<br /> Unless Lender and�vrrower other�vv�se agree�n r�r��ing, an�app��ca��on�f proceeds��principal sha��nat ex�end
<br /> Qr postpane the due �ate of�he pa}�ments due und�r the Can�ract or�hang�th� amount of�h�payrnents. �f under
<br /> the s�ct�on ti�ied Accelera��on; Remedies,�he Proper�y is acquired by Lender; Borrower's r�ght ta any insurance
<br /> pol�cies and proceeds resulting fr�m damage to the Praper�y prior�a �he acquxsx�ion sha�l pass ta L�nder ta the
<br /> extent of the sums secured by th�s Security�ns�rument�n�media�e�y prior to the acquisitian.
<br /> Preser�at�an, Main�enance and Pro�ection of �h� Property; Borrower's Lflan Applica��on; Leaseholds.
<br /> Bflrravver shalT not destroy, damage or irnpair the Proper�, atiow the Praperty to de�eriora�e, or com.mit was�e �n
<br /> the Properry.Borro�ver shal�be in defaui��f any forfeiture ac��on or pracee�.ing,whe�her civ�I or crrmina�,�s begun
<br /> �hat �n Lender's gaad faith�udgment cauld resul� in forfeiture of the Praperty or otherwise materially imparr�he
<br /> lien created by this ���ur��y �nstrument or L�nder's security znteres�. Sorrawer ma� cure such a default and
<br /> rei.ns�a�e, as pro�zded in section t�tied Barrower�s Righ�to Re�ns�a�e, by causing�he acti�n or proceedi�g�o be �
<br /> dismrssed v�ith a ruling that,in Lender's good faith determination,preciudes fflrfe��ture of the Barrower's interes�in
<br /> the Prope�-fiy �r other ma�er�a� impa�rm�nt of the �xen crea�ed by �his Security rns�:rumen� or Lender'� se�urity
<br /> �n�eres�.Baz-�rawer shall a�so be In defau�t�f Borrovver,during fhe�oan appX�ca�ron process,gave ma�erially false ar
<br /> ina�curate information �r statements �o Lender �or fa�led #o prov�de Lender v�ith any mater�al �nforma�ion� in
<br /> cannec�ion w��h�he ioan eviden�ed by the �ontract. �f this Secur�ty�nstrument �s on a leaseh�ld, Borrower shall
<br /> c�mp��wi�h all�he provis�ons of�he lease.�f B�rrflwer acquxres fee���le�o the Proper�y,the leaseh�id and th�fee
<br /> �z�Ie shall not merge unless Lender agre�s to the m�rger in vvr�t�ng.
<br /> Pro�ectian of Lender's R�ghts in the �roperty. �f Borrawer fails �� p�rform the covenan�s and agreements
<br /> con�ained�n this Securi�y Ir�strumen�,or there is a I�gal praceed�ng�hat rna��sxgnificantly affect Lender's rights in
<br /> �he Proper� �such as a pro�eeding in bankruptcy, praba�e, far condemnation or forfe�tur� or to enforce �aws or
<br /> re�;ulations}, �hen Lender may d� and pay for vvhatever �s n�c�ssary to protec� the �alue of the Praperty and
<br /> Lender's rights in the Proper�y.Lender's ac�ions may include paying any sums secured by a��en�vhich has prior��
<br /> aver th�s Security�ns�rurnent,appearing in�aur�,paying rea�anable at�orneys'fees and en�ering an�he Proper�y�o
<br /> make repairs.Although Lender rnay�a.i�e action under this sec��on,Le�der does nflt have to d�sa.
<br /> Any amoun�s disbursed by Lender under�his se�tion shall became addit�onal d�bt of Barrower secure�. by �his
<br /> Security rnstrument. Unless Borrower and Lender agree to o�her terms of paymen�, �hese amaunt� shall bear
<br /> �24fl4-2414 Carnptiance 5ysterns,Inc.FD64-82A1-2D 13L2.I0.�.895
<br /> Cor�sumer Real Estate-Security Ir�strument DL2435 Pa�e��f 5 wwu�.compIiancesysterns.com ,
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