|
��15�5776
<br /> Applicat��n of Fayments. Un�e�s Appl�cab�e La.w pr��xde� otherwise, aI�payments re�eived by Lend�r shal�be
<br /> app��ed: f��st, to any prepayment charges due under�he Na�e; s��ond, �o intieres�due; thzrd, ta przn�ipal du�; and
<br /> �ast,to any�ate charges due u�.der the Note.
<br /> �harges; Liens. B�rra�vver sha�l pay a�� �axes, assessments, charges, f�es and impos�tions attr�butal�Ie �o �he
<br /> P.roperty which ma�r a�ta�n prior�ty aver thls 5ecurt�y Instrumen�, and Ieaseh��d payrne�ts o�ground rents, if any.
<br /> Borrotiver�ha��pay�hese ob�igations on t�rne and dxr����y to �he persan av�ed paymcn�. At th�request of L�nder,
<br /> Borr�vver�hal�prornp��y furnish to Lender rece�pts ev�dencing the payrn�nts.
<br /> Bo�-rativer sha�1 promp��y d�scharge any��en v�rhich has prior�ty vver this Security�nstrument un�ess Borro�rer: �a}
<br /> agrees in �ritxng �� the payment of�he abl�gat�o� secured by �he Iien in a rnanner acceptable to Lender; �b}
<br /> con�ests in �oad fa�th�he l�en by, or defends agains� enfarcemen� of}�he �ien in, �ega� proceedzngs which in the
<br /> Lezader's o:pir�ion aperate �o prevent the enforcement of the �ien; or �c� secures fror�a. the h�tder of�h� lien an
<br /> agreement sat�sfac�o�y�o Lender subnrdina�zng the li�n to�hzs �ecuri�y�nstrument. �f Lender determznes that any
<br /> par�of the �'rop�rty is subject�o a �ien wh�ch may a�ta�n prior��y av�r�:his Secur�ty�nstrument, Le�der may g��e
<br /> F3a�-rower a nQtzce iden��fying the l�en. Borrower shall satisfy the lien or take ane ar rno�re of�h� ac��ans set forth
<br /> above w�thin 1�days�f�he gx�rxng of no�zce.
<br /> Hazard vr Property Insurance. Barro�rer sha�l�eep the improvements n�w existing or hereaf�cr ere��ed on the
<br /> Praperty irnsu�ed against�o�s by f re,hazaxds xn��uded v��thin the terrn"extended coverage" and any other hazards,
<br /> inc�uding �1a�ds or flo�dzng, far �h�ch Lender requ�res insurance. �hzs �nsurance sha�l be rnaintazned in the
<br /> amaunts and for the periods�hat Le�ader requ�res. The�nsura��ce car��er providzng�he insurance sha11 be chosen by
<br /> BQrrativ�r �ub�ect �o Lender's apprava� which sha�� no� be unreasonab�y Uv��hheid. If Barrawer fa��s ta maintain
<br /> coverage c�escrib�d abflve, Lende� may, ati L�nder's optrfln, abta�n coverage �o prot�ct Lender's rights in the
<br /> Property in a�cordance v�ith s�ction titled Protectivn nf Lender's Rights in�he Property.
<br /> Al� insurar�ce p��icies and renevvals shal� �e accep�able ta Lender and �hall in��ude a s�andard martgage clause.
<br /> Lender shal�have the right to hold the policies and renewals. �f Lender requires,B�rrower sha��proxnptly g�v�to
<br /> Lender a��receipts�f paid pr�miums and renewa�notz�es. In the even�of��ss, Barrotiver sha�l give prarnpt n�tice
<br /> t�the znsurance carri er and Lend�r.Lender may ma�e proof of Iass if no�made pramp�ly by B orrativer.
<br /> Unless Lender an� Borrawer other��vise agre� i� writ�ng, insuran�e proceeds sha�l be app��ed to res�oratiori �r
<br /> repair af t��e Proper� damaged, if, �n Lender'� sole discre��an, �he restaratian or repa�r is ecan�m�.ca�Iy feasxb��
<br /> and Lender's secur�ty �s no��essened. If, �n Lender's s�ie discreti�n, the res�aration flr repazr is not econam��ally
<br /> feas�ble ar Lender's se�urity ujould be I�ssened,the xmsurance praceeds sha��be applze�to the suxns seGured by thzs
<br /> S e curi�y �nstrument, wheth�r or not then due, vvith any excess p a�d �o B orrov�rer. If B orrawer aba�adans the
<br /> Proper�y,or d�es not ansu�er u•i�th�n the num�er af days prescribed by Appl�cab�e Law as se�farth in a notzce from
<br /> Lender�� Borr�v�rer th.a��he znsuranee car�rier ha� offered to sett�e a cl��m, then Lender may ca�Iect�he insura�ce
<br /> �roc�eds. Lender may use�he proceeds�o repair ar restore ��he Pr�p�rty or tn pay sums seeur�d by�his Se�urity
<br /> �nstrurn�nt,whether ar not�hen due, The perzod of�irne for Borrovver��answer as se�for�h zn the no�ice wzli begin
<br /> vvhen the n�t�ce is�zven.
<br /> Unless Le�der and Bor�rower oth�rwise agree in wri�zng, any app��cat�an of proceeds�o principal sha1� n��ex�end
<br /> ar pas�pon� the �ue date of the paymen�s referred to in �he �ection �i��ed Payment of Prin��p�� a�.d Interest;
<br /> Prepayme�nt and La��Charges or chang�the am�unt af�he payments. �f under�he sec�ion t�t�ed Accelerat�on;
<br /> Remcd�es, the Proper�y is a�quzred by Lender, Bor�ower's r�ght to any insurance palicies and proceeds resul�ing
<br /> fr�m darnage to�he Prap�r�y priar to the acquisxtion shaX�pa�s tfl Lender ta�h�ex�ent of�he sums secured by this
<br /> Secur�ty�ns�rument zmmedia�e�y prior to�he a��uzsition.
<br /> Preservativn, M�in�enance and Protec���n of �he Property; Bvrrav�er's Loan Applica���n; Leaseha�ds.
<br /> Borrav`rer sha�I not dest��y, damage or�mpair the Prape�-ty, al��w�h�Proper�y�a deteriora�e, or cammi��raste on
<br /> th�Propert�.Borrovver shal�be in defau��zf an�f�rfe�ture act�on�r proceeding,vvhether civil or crixn�nal,�s begun
<br /> �ha��n Lender's gaad faxth judgment could resu�t in forfe�ture �f the Fraperty or flt�.erw�s� ma�eria�Iy impair the
<br /> ��en created by �h�s 5ecurity �nstrument or Lender's securzty in�eres�t, Barrower ma� cure such a defau�� and
<br /> re�.ns�a�e, as provided zn sec�ion ti�led Borro�ver's l�ight tv ReinS�a�e,by causing the act�on or pr�c��dinb ta be
<br /> d��missed ti�vi�h a ru�ir�g that,in Le�.der's go�d faith deterrninati�n,prec�udes forfez�ure of the Borrovver's interest zn
<br /> the Praperty or o�her material �mpairment of�he ��eri cr�a�ed by th�s Security �n�trument or Lender's security
<br /> in��r�s�.Barro�ver shall alsa be�n defau�t if Borrower,during the��an a�p�icat���proc�ss,ga�e materially faise ar
<br /> zmaccurate inf�rmation �r s�tatements to Lender �or failed �o prav�de L�nder vv�th any mater�al ir�f'�rmation} in
<br /> connectzan wi�h the loan ev�denced by �he N�te. �f�h�s Securi.�y Ins�iment is on a leasehald, Sorrau�er �hall
<br /> comply urz�h a�I t�e provzs��ns of th��ease.�f B�rrflwer acquires fee�itle to�he Property,the�easehold and the fee
<br /> tztle sha��n�t merge un�ess Lend�r agrees�o�ie merger in writing.
<br /> Profec�ivn of LendQr's R�igh�� in �he Property. �f�3arra�ver fa�ls ta perform the covenant� ax�.d agreemen�s
<br /> conta�ed�xz thzs Securxty Ins�rumen�, ar there is a Iega�proceeding that xnay signif cantly affect Lender's righ�s �n
<br /> the Proper�y �such as a praceed�ng in ban�rupt�y, pr�ba�e, for candemna�ion ar f�rfei�ur-e or to enforce 1a�vs or
<br /> regulatzons}, tihezz Ler�der may d� �.nd pay for wha�ever �s necessary �a protec� the va�ue of the Pr�perty and
<br /> Lender's ri�;hts iri t�e Property.Lender's a�tians m.ay inc�ude payxng any sums secured b�r a��en which has pr�ar��y
<br /> over th�s Secu��ty Instrument,appearing it�coutt,paying reas�nab�e attarneys'fees a�d ent�ring om�he Property ta
<br /> make repa��s.Although L�nder may take a�t�on u�.de�this�ection,Lender does zao�have�o do sa.
<br /> Any arn�un�s d�sbursed by Lender under thi� section sh�.Il become add�t�ana� debt of Bar3rovver secure�by�h.zs
<br /> �5ecurity �nst�um�nt. Un�ess Borrower and Lender agree ta ather terms of paymen�, the�e amoun�s sha�� bear
<br /> r�20�4-2�i 5 Carnpliance Systems,In�.ASBC-SA46-�Q i 5.3.5,1664
<br /> Cor�su:ner Real E�tate-5ecurity Instrurnent DL2036 �age 2�f 6 wwc��.comgiiancesy�stems.cosn
<br />
|