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��l 5�61 �l
<br /> B��row�r and Lender�ov�nant and agree as fo�iovG•s:
<br /> Payrnent�f Prin�ipal and IntQres�; ath�r�har�es.Borrotiver shall pro�nptly pay vvhen due the princ�pa��f and
<br /> interest�n the deb��wed un��r the�on�ract and�aie�harges or an�other fe�s and charges due und�r the Can#ra�t.
<br /> Applicable Law. As used i� �his S��urzty �nstrument, the term "Appli�ab�e Lativ" shal� mean alI can�rolling
<br /> ap��icable federa�, state and lacal sta�utes, regulatians} ordinances and administra�i�e ru�.es ar�d orders �tha�have
<br /> the effect of la�u}a�vvel�as aIl appl�cable fnal,nan-appea�ab�e judicial apinians.
<br /> Charge�; Lzen�. �3orrflwer shall pay al1 taxes, assessmen�s, charges, f�nes and impasitzflns a�tributable to ��e
<br /> Proper�y�rh��h may at�ain priority over th�s Securi�y�nstrumen�, and Ieaseho�d payment� or grou.rid ren�s, if any.
<br /> Ati�he reques�flf Lender,Borro�er sha��pro�nptly furn�sh to Lender receipts e�idencing�he payxnents.
<br /> Ba�r��ver sha�I promp��y d�scharg�any lien which has priority aver this Security�ns�rurnenf.unless B�rrativer: �a}
<br /> agrees in v�r��xng �a the pa}rment of the obligatiar� secured by th� lzen in a rnanner accep�ab�e �o Lender; (b}
<br /> con�ests in goad fai�h the lien by, or defends agai�s� enfarcement of the �ien in, lega� praceedings which in the
<br /> Lender'� opinivn aperate to prevent �he enforcement �f the lien; vr �c} secures from �he holder of the Iien an
<br /> agreernent satisfactary�o Lender subardi.natzng�he�ier��o�his S�curity Instrumen�. �f Lender de�ermines that any
<br /> part of the Property is sub�ec�to a��en�vhxeh may at�a�n priori�y over�his Security�nstrument, Lender may g�ve
<br /> Boz-rativer a notice identifying�he lien. Borrawer sha11 satisfy�he lien or tak� one or more of tihe actions set far�h
<br /> above vvi�hin I�da�s of�he a��ring of not�ce.
<br /> Ha�ard or Praperty Insurance. Borrov�rer sha����ep the improvements n�w existing Qr hereafte�r erected on th�
<br /> PrQperty insured against loss by f re,hazards included v�ri�hin�he te�m"extended�o�erage" and any Qther hazards,
<br /> including fl�ods or flooding, for tivhich L�nder r��uires insurance. This �nsurance shall be main�ained in �he
<br /> amou.n�s and for the peri�ds tha�Lender re�uires.The ir�suranc�carrier providing the insurance shall be ch�s�n by
<br /> I3�rrativer subj ect �o Lender's appraval urhich sha�1 nat be unreasonab�y�ri�hhe�d. Yf Borrawer fai�s t� maxn�axn
<br /> coverag� dcscr�bed abovc, Lender mav, a� Lendcr's op�ion, obtain coverage �� pro�ect Lender's righ�s in the
<br /> Praper�r in accardanc�v���h se�t�on tit�ed Pratectx�n vf Lender's Rights in the Praperty.
<br /> A�� insurance pfllicies and ren�vvals shai� be acceptable �o Lender and shall inctude a s�a��dard�nortgage clause.
<br /> Lender shall have �he righ�ta hold�he palicies and renewals. Yf Lender requires,Barro,t�ver sha�l pramp�ly give to
<br /> Lender all receipts of paid premiums and renewal notices. In�he even�of 1�ss, Borrower shall give prompt not�ce
<br /> to th�insurance carrxer and Lender.Lender may ma�e proof�f Iass if na�made promptly by Borrower.
<br /> U�.1ess Lend�r and Borrovver o�herv�ise agree �n �vriting, insurance proceeds shail �be applied �o restoratio�� ar
<br /> repazr af the Praperty damaged, if, in Lender's �ole discretion, �he res�oratian or repa�r is ecanor�ical�y feasihle
<br /> and Lender's security is not 1�ssene�. �f, �n Lender's sa�e discre�i�n, the restoration ar repair is n��econom�ca�ly
<br /> feasib�e or Lender's securit��vould be�essened,t�e�nsurance pr�ceeds sha1�be app�ied�o�he sums seeured by this
<br /> S e cu.r�ty Instrument, whe�her or �.�� then duc, vvi�h any excess p a�d to B arra�ver. �f B orrotiver abandons the
<br /> Property,or dfles no�ar�swer ur�thin the num�er�f days pres�rihed by App�icable Law as set farth�n a no�zce from
<br /> Lend�r t� Borrou�er tha��he insuran�e carrxer has �ffered�o sett��a claim,then Lender ma�r�allect th� znsurance
<br /> pro�eeds. Lender may use the proceeds t� r�pair dr restflre �he Proper�y ar to pay sums �ecured by th�s Secur��y
<br /> �ns�rurnent,vvheth�r or n�t then due. The perzad of�ime far B�rrawer to answer as set forth in the natice tivill beg�n
<br /> tivhen the nati�e�s gxven.
<br /> Un�ess Len�er and Borra�rer atherwise agree in wr�ti.x�g, any appli�a�ian af pr�ceeds��pr�ncipa�sha�I no�ex�end
<br /> ar posip�ne the due da�e of�he payrn�nts due under�he Cantract or change the am�unt af the pa�znents. If under
<br /> �he section t�tled A�eelera�inn; Remedies, the Proper�y is acquired by Lender,Borrovvex's right�o any insurance
<br /> polic�es and pr��eeds result�ng fram damage to �.ae Praper�y prior to the acquis�tion shall pass �� Lender ta the
<br /> ex�ent of the sums secured by�his Securzt�Ins�rurnent irnmed�a�eXy priar�o the acquisi�ion.
<br /> Preser-��ti�n, Main�enan�e and Prate�t��n af �h� Property; �.3�rrower's Loan Appli�at�an; Lea�ehQlds.
<br /> BorravSr�r shall no�des�roy, damage or�rnpair the�'ropert�,a��ow fihe Proper�y to dete�riora�e, ar comrnit waste an
<br /> the P�flperty.Borrower sha1l be in default if any forfeiture action or proceeding,u�het�her c�v��or cr�m�na�,�s begun
<br /> �hat �n Lender's gaod fa�th judgment could result in forf�i�ure af�he Prflperfiy �r o�herw�se ma�eria�ly impa�r the
<br /> Iien created by this Secur��y �ns�rumen� �r Lender's se�urity interest. B�rr�wer ma� cure such a default and
<br /> reins�a�e, as provided in s�ction�itled Borrov�rer's Right to Rein��ate,�y causing the action or pr�ceeding�o be
<br /> d�smissed wi�rh a rul�ng that,in Lender'�go�d faith determinatian,pre��udes forfeiture af�he Borrower's in�eres��n
<br /> th� Praper�y or ather material fmpa�rment of�he I�en cr�a�ed by thi.s Securi�y Ins�rument or Lender's securzty
<br /> znterest.Borrower shall a�so be in defaul��f Barrow�r,during�the�oan application prflcess,ga�e ma�eria��y fa�se or
<br /> inac�urate informatian or sta�em.ent� �o Lender (ar failed ta provide Lender vvith an� ma�er�a� �nf�rmation} i.n
<br /> connect�an with�he�Qan evidenced by trie �ontrac�. �f this Secur�t��nstrument is on a Ieasehold, ��rro��er�ha11
<br /> c�rnply�r��h a��the provisions of�he lease.�f Borrour�r acquzr�s fee title�o the Property, the Ieaseh�Id and the fee
<br /> tit�e�hal�no�me�rge un�ess Lender agrees to the merger�n writing.
<br /> Prfltecti�on nf Lender's R�gh�s �n �he Pra�er�y. �f Borrovver fails ta p�rform �he covenants and agre�ments
<br /> con�ained in�his 5ecurity Ins�xment, or�here is a�ega�.pro�eeding�hat may�ignificantly affe�t Lender's right� in
<br /> �he Property �such as a praceeding �n banl�ruptcy, praba�e, far eandemna�ion ar forfeiture ar to enforce Ia�vs or
<br /> regulations}, then Lender may da ax�d pay f�r whatever xs necessary �a prfltec� the va�ue af the Praper�y and
<br /> Lend�r's r�gh�s�n�he Prvper�ty.Lender's a��ions ma�include paying any sur�s secured�y a Izen wh�ch has priarity
<br /> over�this 5ecurity�nstrument,appear�n�in caurti,paying reasanable at�orne�s'fees and entering on�he Pr�perty tn
<br /> makc repairs.Although Lender may take actian und�r this sect�nn,L�nder does not have t�d�so.
<br /> '�2�Q4-Zfl 15 Co�nplian�e Systems,Inc.A6BC-B473-2d 15.3.5.t db4
<br /> Consumer Real Es#ate-Sccurit}�Instrument DL2�35 Pa�e 2 of 5 wwu�.compiiarices}��stems.corn
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