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��15�5886
<br /> �aymen��of PYxn�xpa�and Infierest; �#her Ch�.rges.Borrovver shall prQmp�ly pay when due the principal�f and
<br /> interest��n�he debt owed under the�on�ract a�nd Ia�e charges or any Qther fees and�harg�s due under�he�on�ract.
<br /> .�pplicab�e Law. As used �n this 5ecurity �ns�rument, �he term "Applzcab�e Law" sha�I mean all c�ntrol�ing
<br /> applica�Ie federal, state and I�cal s�atu�es, regulations, ardinances and adminis�ratzve ruXes and orders �tha�have
<br /> the ef�'e�t of Iavv)as�rell as a11 appl�cable final,n�n-appea�a�]e judicial opin�ons.
<br /> �harge�; Liens. B�rroWer shall pay al� taxes, assessmen�s, �harges, f�nes and impo�iti�ns attribu�a.ble to �he
<br /> Praper��which may attain prior��y over�h�s 5e�uri�y Ins�rumen�, and leaseh�Id payrnen�s or ground rents, if any.
<br /> A��h�r�ques�of Lender,Borrower shall promp�ly furn�sh��Lender receipts evidencing the paymen�s.
<br /> Borrow��r shaZ�praxnpt�y discharge any�ien vvhich has pr�ority 4ver this �ecurxty�ns�rurnen�u�less B�rro��r: �a}
<br /> agrees zn wrzting �a �.h� payrnen� af the ab��ga�ion secured by th� l�en �n a rnann.�r accepta��e �fl Lender; �b}
<br /> contests in goo�. faith the �xen by, ar defends aga�nst enf�rc�ment of the I�en in, lega� proceedings which in the
<br /> Lender'� opi.nion opera�e to pr�vent the enfor�emen� of the l�en; or �c� secures fram �he holder af the Iien an
<br /> agreem�nt satisfactary to Lender subo�rdina�ing the Iien�o �h�s Securi�y Ins�rurnent. �f Lender determ�nes that any
<br /> part�f the Proper�y is subj ect�o a lien vvhich may a�tain priorit�aver this 5ecur�ty Instrumen�, Lender ma�r give
<br /> Sorrvwer a n�tice�den��fy�ng the l�en, Borrawer sha11 sat��fy the lien�r tal�e one�r rnore of�he ac�ians set forth
<br /> above wi�hin 1 D days�f the g�.vin��f natice.
<br /> Hazard or Proper�y Insuran�e.Borrower shal��eep �he improvemen�s navv exi�ting ar hereafter erec�ed on the
<br /> Property insured agains�Ioss by fire,hazards�nc�uded w�thin�he terr�"extended�overage" and any o�her hazards,
<br /> inciudin,� floods ar flooding, for which Lender requires insu.rance. Th�s insurance sha�l be rnaintained in �he
<br /> amounts and for the periods�ha�Lender requires. The insurance�arrier provid�ng the insuran�e shaX�be cha�en by
<br /> Borra�r�r subject �a Lender's appr�val wh�ch shall no� be unreasona�ly withheid. If Borrovver fails ta maxn�a�n
<br /> caverag� described abave, Lender may, a� Lender's option, ob�a�n coverage �o protec� Lender's rights in the
<br /> Propertyr��.accordar�ce tivith sec�ian i�t�ed Pro��ct�on af Lender's l�ights�n#he Proper��.
<br /> All insu�a.r�.�e pol�c�es and rene�als shall be acceptable �� Lender and shall in��ude a standard mortgage clause.
<br /> Lender 5ha�l have the right t�ho�d the po�icies and renewals. �f Lender requires,Barrflvver sha�l pr�mp�I�gi�re�o
<br /> Lender a�l receip�s of pa�d�rem�ums and renewal n�t�ces. In the even�of l�ss,B�rrawer shall gi�e prompt natice
<br /> to�he in�uranee carr�e�r and Lender.I1ez�der rnay make proof of�oss if not made promptl�by E�rrotiver.
<br /> Unle�s Lender and Eflrrourer other�v�se agree in wr�txng, insurance praceeds shall be appli�d to rest�ratian ar
<br /> repair o�th� Property damaged, if, in L�nder's s�le discretian, the rest�rat�on or repair is ec�nomically feasxb�e
<br /> and Len�der's securiry is not�essened. �f, in Lender's sole discretion, �he restoratian or repair is na� ec�nomica�l�r
<br /> feasib�e or Lender's security tivould be lessened,the insurance proceeds shall be applied to the sums secured by�his
<br /> Securzty �nstrument, vvhether ar not the�z due, with any excess paid �o Borra�ver. If Barrour�r abandons the
<br /> Proper�y�,or does no�anstiv�r�ith�n�he number�f da�s prescribed by App�zcable Lav�r�s se�forth in a nat�ce from
<br /> Lender�o�orrov�er that the insurance carr�er has affered t�set�le a c1a�rn, then Lender may col�e�t the insuranc�
<br /> pr�ceed�. �end�r may use�he praceeds �o repa�r ar restore the Froperfiy or to pay sums sectu ed by�his Security
<br /> Instrum�nt,tivhether or no�then due.The per�od of tim�far Barrower to ans�ver as s��fort�i in the no�xce v�i1�begin
<br /> �vhen the natice is gi�ren.
<br /> Unless L�nder and�3arr��ver atherwise agree in writ�ng, any appl�cation flf proceeds ta principal shaXl no�extend
<br /> �r posfip�ne the due date of th�payments due under the Car�trac�or�hange the amaun�vf�he paym�n�s, rf under
<br /> the secti�n�i�1ed Acce�erat�vn; Remedies, the Prflpert�r�� acquired by Ler�der,Borrov�er's right ta any insuran�e
<br /> palicies and proceeds resul�ing from damage �to �h.e Propel-fiy pr�or to the acqui�it��n sha11 pass �o Lender �o the
<br /> extent of the sums se�ured by this Security�nstrumen�irnmediately pritir ta�he ac�uisi�ian.
<br /> Preser��tian, �Vla�n�enance and Pratec�ion of the Propert�; B�rrovver's Loan Appiicatzon; L�aseholds.
<br /> Borrovver sha�I n�t des�roy, damage or irnpair the Prapert�, a�l�w t��e Property to deteriarate, ar�omrnit�va��e on
<br /> �he Prop�rty.B�rrd�ver shall b��.n.d�faul��f any fnrfe��ure ac�ion or proceeding,urhe�her civil or�r�minal,is begun
<br /> that in Lender's gflod fa�th�udgrnent �ould resulti in forfe�ture af the Property or athe�-wise ma�erially�mpair the
<br /> ��en cre�ted �y this Se�urity Yns�rumen� �r L�nder's securi�y znterest. B�rrflwer ma� cure such a defaul� and
<br /> re�nstate, as provided in sec��an fi�led��rro�rer'�Right �o Reinsta�e,by causing�he actio�l or p�r�ceeding to be
<br /> d�smissed vvi�h a ruling�hat,in Lender's good fai�h de�erminati.an,pr�cludes forfeiture of the Borrourer'��n�erest in
<br /> the Property or other material impairrnent of�he lien created by this Security �ns�rumen� or Lender's security
<br /> interest.Borrower sha�l also Ue in default if Borrovver,during�he I�a�appl�ca�i�n prvicess,gave mate�rially fa�se ar
<br /> �naccura�.e information or sta.�ements �a Lender �or fa��ed �fl provide Lender w�th any ma�erial informa�ian} iri
<br /> connec���n wi�h�he l�an evidenced by�he ���.trac�. If this 5ecuri�In�trurnent is on a�easeh�ld, Barro�wer shall
<br /> comply��i�h ai�th�pravisio�s of�he l�ase.�f Borrawer acquires fee tit�e��the Property,the leasehald and the fGe
<br /> �itle sha��.n�t merge unless Lender a�rees ta the rner�er i�a wri�ing.
<br /> P�rotecti��n af Lender�s Rights �n the �raper�y, rf B�rro�ver fa�Is �o perf�rm the c��enan�s and agreemen�s
<br /> con�a�ned in this Security�ns�rument, or there is a 1ega�proce�ding�hat may s�gnificant�y affect Lender's rights�n
<br /> the Prop�rty�such as a proceeding zn bar�kruptcy, probate, for condemnat�vn or farfeiture or to enforc� �aws �r
<br /> regulatioris}, �h.en Lender may �io and pay far vvha�ever is necessary to protec� the va�ue �f the Praperty and
<br /> Lender'S rights in the Properrty.Lender's act�ons ma�include pay�ng any suxns secured by a Iien�hich has pr�arity
<br /> over thzs Security Instrument,appearing in cour�,payin�reasonab�e at�arneys'fees and enter�ng an the Proper�y�a
<br /> rnake repazrs.A�thaugh Lender may tak�act��n under this�ect�on,Lender does not have�a d�so.
<br /> Any arnaunts disbursed by Lender under this sec�ion shall b�come addi�ianal de�bt af Borr��v�r secured by�h�s
<br /> 5ecurity Instrument. Un�ess Borrower and Lender agree ta a�he�r �erms of paymen�, the�e �.rnounts shall bear
<br /> 9 20b4-�415 CompIiance Systerns,lnc.A6BC-B71 S-2�15.3.5.1054
<br /> Cans�mer Real Estate-Security Instrurnent I7L2436 Pa�e 2 of 5 wwtiv.compliaz��esys#ems.corn
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