|
. �. : � ��1 5�5934
<br /> Payment of Principal and In�er��t;��h�r Cha�-ges.Borrow�r sha1�prampt��pay when due�he pr�ncipal of and
<br /> in�erest�n th�deb���n�ed under�h�C�n�ract and la�e�harges ar any�ther fees and charges due under the�an�ract.
<br /> Applicable Law. As used in this Security �nstrumen�, the �erm "App�icable Law" sha�I mean all controlling
<br /> applzcable federal, s�a�e and �flcal statutes, regulations, ordinances and admin�strative rules and orders �that have
<br /> �he�ffect of lav�}as well as all ap��icable f�na1,no�.-appealable jud�cial apin�ons.
<br /> Charge�; Liens. Barravver sha�l pay al� �axes, assessmen�s, charge�, fines and impasit�ons attr�bu�a�hi� ta �he
<br /> Proper�y�h�ch ma�T atta�n priority over.this Securi�y lns�h-ument, and�easehold�aymen�s or ground rents, if any.
<br /> At the request of Lender,Barrowver sha1�promp�ly furn�sh�o Lender rece�pts evidencing the paymenis.
<br /> Borrow�r shall prflmptly discharge any Iien which has pr�or�ty o�er�h�s Secur�ty�nstrumen�unles�B�xrflv�er: �a�
<br /> agrees i� wr���ng �o the payxnent �f�he obl�ga��on secured by the �ien �n a manner acceptable to Lender; �b�
<br /> c�ntests �n gaod faith the lien by, or defends agains� enf�rcement �f the lien in, lega� proceedings wh��h �n the
<br /> Lender's opinian opera�e �o pre�en� the enforcement of�he ��en; �r �c� secures fr�rn �he l�older �f the lien an
<br /> agreernen��atisfac�ory ta L�nder sub�rdinating�he �ien�o this Secur�ty Znstrumen�. �f Lender determ�nes�hat any
<br /> part of the Proper�ty is subjec��o a l��n which may at�a�n priority aver th�s Secur�ty�nstrumen�, L�nder�nay gi�e
<br /> Bflrrovver a not�ce identifying the Iien. Borrower shall sa��sfy�he �ien�r take ❑ne or more af the actions set forth
<br /> above v��i�hin 1�days�f�he���ing.af no�ice.
<br /> Hazard or Praperty Insurance. B�rrawer sha�l keep�he improWements now e�istin��r hereafter erected on the
<br /> Praper�y insured aga�ns�loss by fire,hazards inc�uded�v�thin�he�erm"e�tended co�erage"and any other hazards,
<br /> inGludin� floods ❑r flaading, for vvhich�Lend�r requires �nsuranc�. This insurance sha�� be maintained �n �he
<br /> amoun�s and for�he periQds tha�Lender r�yu�res. The �nsurance.�arrier pro�iding the insuranc�shal�be chasen b�
<br /> Barr�wer subjec� to Lender's approval wh�ch sl�al� not be unreasonab�� �nrithheld. If Borr�wer fai�s �fl mainra�n
<br /> cov�rage d�sc�ibed abo��, Lend�r ma�, at Lender's opt�on, abtain coverage t� pr��ect Lender's righ�s in �he
<br /> Property in a�corc�anee wi�h se�tian t��Ied 1'ratectian❑f Lender's Righ�s in th�property.
<br /> A�1 insuran�e po�ic�es and renevvals sha�l be acc�ptable to Lender and shal� �nclude a s�andard mor�gage clause.
<br /> Lend�r shal�ha�e�h��-ight��hold�he policies and renewa�s. If Lender requ�res,B�rrower shall prampt�y g�ve��
<br /> Lender�.I1 receipts af pa�d premiums and ren�wal not�ces. �n the ever�t of lfls�, Barrovver shall give prompt no��ce
<br /> to�he insurance carrier and Lender.Lender may make p�-oflf of loss if nat made prnmp�ly by B�rrow�r.
<br /> U�less Lende�- and B�rro�ver v�h�rrnrise agree in wr���ng; insurance proceeds shall be applied �o restaration or
<br /> repair �f�h� Property damaged, zf, in Lender's so�e d�scr�t��n, the res�arat�on or repair is economi�a�ly feas�ble
<br /> and Lender's security i� n�t lessened. If i� L�nder's s��e dis�retion, the restvration or repair is not econamica�ly
<br /> feasib�e or Lender's secur��y wou�d be lessened,the�nsuran�e proceeds sha�l be applied�fl the surns secured by this
<br /> S�curi� Zns�rumen�, ti�vhe�h�r o�r not �hen due, w��h any excess paid ta Barrawer. If Borravver abandons �he
<br /> Property,ar does no�answe��vi�h�n the number of days prescr�bed by Applicable Lavv as se�forth zn a nof�ce fir�m
<br /> Le�der t� Borrawer�ha��he�nsurance carrier has offered�o sett�e a�laim,�.hen L�nder rnay�ollect the insuran�e
<br /> pra�eeds. Lender may use the pr�ceeds to repair or restore the Praperty or��pay sums secured by th�s Secur��y
<br /> Instrument,whe�her or not then due.The per�fld of tirne far Bnrr��tnr�r to answer as se�for�h in�he n�tice w��l hegin
<br /> when the no��ce is give��.
<br /> Unles�Lender and Barrower otherwise agree in v���t�ng, a�y app�ication af pro�eeds to princ�pal shali n�t ex�end
<br /> ar postpone the due dat�of ihe payrnents due�nd�r�he Contrac�or change the amaunt af the paymen�s. �f under
<br /> the sec��an titled Aceeleration; R.emed�es,�the Pr�p�rt�y is acquired by Lender, Barrower's righ�io any ins�rance
<br /> policies and pro�eeds resul��ng fr�m damage to the Pr�per� priar ta �he acquisition shali pass �o Lender�� the
<br /> extent�f the sums secured by�his Secur�ty Instrument�mmediat��y pr��r ta the acquisi��on.
<br /> Preser��tion, Maintenanc� and �r��ectian nf �he Proper�y; Borr�wer's Loan Application; Leaseh��ds.
<br /> F3�rrvrnrer shall not des�roy, damag�or�mpair�he Proper�y, a11o��v�he Prope�-�y ta deter��rate, or com�n�t v�aste an
<br /> the Praper�y.Bflrrov�er sha�l be iri default if any forfeiture a��ion or pr�ceeding,whether civi�ar crim�nal,�s begun
<br /> �ha� in Lender's goad faith�udgmen�t could re�su�t �n forfei�ure �f the Pr�per�or o�hervvise ma�eria�ly ��n.pair�he
<br /> �ien �rea�e� by th�s Security Instrumen� or Lender's security interes�. B�rr�wer may cure SllC�'1 a defau�� and
<br /> reins�a�e, as pravided in sec�ion ti��ed B�r��wer's Righ�ta Reinstate, by causing�he ac��on or pro��eding�o�e
<br /> dismissed��v��h a ruling�hat,xn Lender's good faith de�ermination,prec�udes f�rfe�ture of the Borrower's interest in
<br /> the Propert�y ar other ma�eria� �r�pairmen� of�he lien �reated by �his Security �nstrurnent or Lender's securi�ty
<br /> interes�. B�rro�er shail a�so be in default�f Borra�ver,during�he�oan app�icatian prflcess,ga�e mat�rial�y�alse ar
<br /> �naccura�� �nformati�n �r statements to Len�er (ar faiied �o pro�ide Le�nd�r u��th an� material �nfarrnation� �n
<br /> cflnnec��on with t�e loan e�idenced by the Conlxact. If th�s Secur��y�ns�rument is�n a�easeho�d, Borrovver shall
<br /> compl�with a���he prov�s�ons�f the lease.If Borr�r�ver acquires f�e title�o�he Property,the leas�h�ld and rhe fee
<br /> ����e shal�not merge unless Lender agrees��the merger in wr��zng.
<br /> Pr�tecti�n of Lend�r's Rights in the Prope�-ty. If Barravver fails t❑ perfarm �he caWenan�s and agreemen�s
<br /> conta�ned in this SeCur�ty Instrument,�r there�s a�ega�proceed�n�that may significan�ly affect Lend�r's righ�s in
<br /> the Prope�-ty (such as a proceeding in �anl�ruptcy,�proba�e, far conden-ulation or farfeiture �r t� enf�rce laws �r
<br /> regu�at��ns}, �hen Lende�r may d� and pay f�r whateW��- is �ecessary �o pr�te�t �he �alue of the Praper� and
<br /> Lender's rights�n the ProperCy.Lender's actions may inc�ude paying any�urns secured by a��en vv��ich has pri�rity
<br /> oWer�his Securi�y�nstrument,appeari�g in court,payin�r�asonable a�arn�ys'fees and entering on�he Proper�y��
<br /> make repair�.A1�hough Lender ma��ake action under this sect�an,Lender does no�hav���da so.
<br /> Any amQun�s disbu�sed by LendeY•under �his section �hail h�c�rne add�t��nal deb� of Borr�wer secured by �h�s
<br /> SeGuri�ty rns�rument. LTnless Borr�vsrer and Lender agr�� tfl ��her ter�ms of paymen�, �hese amounts shall bear
<br /> C�2�fl�-2��5 Compliance Systems,Inc.ASSC-73 A7-2415.3.5.1064
<br /> C�nsu�ner Real Estate-Security Instrument DL?035 Pa�e 2 of 5 www_corr�pliancesysterr►s.cam
<br />
|