|
��l 5�61 9�
<br /> Pa�men�af Principa�and Interes�� ��her�harges.B�rra�ver sha�l promptly pay tiv�en due�h�princ�pa�of and
<br /> znteres�on the debt oWed ur:lder the Co��rac�and late charges or a�y ather fe�s and charges due under the Can�ract.
<br /> Ap��.cable Law. As used ira. �hzs 5ecur�ty �nstru�men�, th� term "Appl�cable Law" shall mean a�l contralling
<br /> app�zcable federa�, state and Iocal sta�utes, regu�a�ions, ardinances and administrative ru�es a��d orders �t1�.a�ha�e
<br /> the effect of law}as�e11 as a��appl�cab�e final,non-appea�able judicral opinions.
<br /> �harges; Liens. Borrou�er �ha�1 pay a�l tax�s, assessm�nt�, charges, f nes and inlpo�itians attxibutable ta the
<br /> Praperty tivhich may at�a�n�rzority over this 5ecurity�nstrument, and�easehald payments ar grflund rents, if any.
<br /> A�the request af Lender,Borr�vv�r sha�I pramptly furn�sh ta Lender receipts evidencing th�paymen�s.
<br /> B�rrotiver�ha�l prompt�y dz�charge any�zen which has priority o�er this Securzty�n�trumen�un�ess Barrower: �a}
<br /> agrees in wr�txng to the payment �f the ob�igation secur�d by the �ien in a manner acceptab�e ta Lender; [b)
<br /> contests �n gogd faith �.he Iien by, or defends against enforcemen� af the lien in, Iegal proceedings vvh�ch in the
<br /> Lender's opini�n �pera�.� to prev�nt the enfarcement of the 1ien; or �c} secures fr�m the holder of the ��en an
<br /> a�reement satisfactary ta L�nder subnrdina�ing�he lien�� �his 5e�urity�nstrurnen�. Zf Lender determi.nes that any
<br /> pa�rt flf the Property is subj�ct t� a lien�rhich may attain priority�ver th�� 5ecurity Ins�n�ment, Lender may give
<br /> Barra�ver a notice identzfyixlg th�lien. B�rrower sha�� sa�zsfy�he ��en or�a�e one �r more of the act�ons se�f�r�h
<br /> above vvithin �0 days�f the giving af not�ce.
<br /> Ha2ard or Proper�y Insu�an�e.Bax-rawer shal�keep �he improvements no�v existiing or h�reafte�e�ected on the
<br /> Pr�perty insured against�oss by f re,hazards included within the term"e��ended caverage" and any o�her hazards,
<br /> iricluding fl�ods or floodir��, for which Lender r�qu�.res insurance. This insurance shall be ma�n�ained in the
<br /> amouz�ts and for�he per�ads�hat Ler�der re�uires.The insuran�e carr�er pro��iding the insurance shall�e chasen by
<br /> Borrovver sub�e�t �fl Lende�'s apprava� vvhi�h shall no��e unreasonab�y u�ithhe�d. �f Borxativer faiis �o maintain
<br /> caverage des�ribed above, Lender may, a� Lender's o���a��, obtaixl coverage to protect Lender's rights in �he
<br /> Praperty in accordance with sec�ian ti��ed Frv�e�tion of Lender's R�igh�s in the Property.
<br /> All insurance polzcies and �-enewals shal�be acceptable t� Lender and shall include a standard mortgage elause.
<br /> Lencier shali have the rzght��hold the po�ic�es and renewa�s. If Lender requires, Barrau�er shal�promp�ly give�a
<br /> Lender al�rece�p�s 4f paid premium.s and rene�vval notices. In the even�of loss,Barr��wer shall give prompt not�ce
<br /> �o the�nsuran�e carr�er and Lender.Lend�r may mak�pr�of of��ss if n�t made promp�ly by Barro�ver.
<br /> Unless Lender and Borrower a�h.erwis� agree in w�-�t�ng, ��surance prace�d� sha�l be applied �o restaratian ar
<br /> repa�r af the Prop�r�y damage�i, if, in Lender's sole discre�ion, the res��ration or repa�r is econom�ca�Iy feasible
<br /> and Lender's securi�y is not�essened. If, in Le�.de�'s sole discretion, �he res�oration ar repair is nat e�onom�ca�Iy
<br /> feasxb�e or Lender's secur�ty u�ould be lessened,the insurance proceeds sha11 be app�ied to the sums secur�d by this
<br /> S�CUrity InSt�m�nt, vvheth�r or no� then due, with any excess paid ta B�rraWer. �f Borrotiv�r aband�n� the
<br /> Pr�p�rty, ar does not answe:r v�rz�hin the number of days pr�scr�bed by Applicable Law as set f4r�h in a no�ice fram
<br /> Lender to Borrower�ha�th�insurance carr�er has affer�d to se�tle a cla�m, then Lender may col�ect t��.e �nsurance
<br /> proceeds. Lender may use the pra�eeds �� repair Qr�estare the Pr�pe�-�y or to pay sums secured by this Security
<br /> �nstrument,��vhether or no��en due.The per��d of time fflr Borrower ta ansyver as set forth in the r�fltzce ti�il1 begin
<br /> u�hen�he notice is gi�en.
<br /> Ut�less Lender and B�rrovver athervv�se agree in wri�ing, any app�ica�ion of proceeds t�prin�ipa�sha�l no�ex�end
<br /> or postpone the due date af the payments due und�r�h� Gontract or chang��he amaunt of the paymen�s. If under
<br /> �h� sec�ion tit�ed A��el�rat�nn; Rerrred�es, the Pr�per�i� acquired by Lender,Borravsrer's righ��a any insurance
<br /> policies and pr�ceeds r�su��ing from darnage to �.he Propert�priar ta the acqui�i�ion sha��pass to Lender to the
<br /> e��er��of�he sums secured by�his 5ecur�ty�nstrumen�immed�a�ely pri�r ta the acquisitian.
<br /> Pr�servativn, Main�enance and Pr�tection of the �raper�y; Barrower's L�an Applica�ivn; Lea�ehalds.
<br /> Borro�ver sha11 not dest�-oy, damage or irnpair�he Prope�ty, allo�r the Praperty to deteriarate, ar comrnit vvas�e�n
<br /> the Property.Borrovver shall�e xn default if any forfei�ure actian or proceeding,whether civi�ar criminal,is begun
<br /> tha�in Lender's gafld fai�h�udgment cou�d resul�in forfe�ture of the Property or othet-vvzse zr�aterially zmpair the
<br /> lien created b}� this 5ecuri�y In�trumen� �r Lender's security interest. Borrovver may cure suCh a defau�� and
<br /> reinstate, as provided in sec�txon�itled Borrvvver�s Righ� �o R�in��a�e,by causing tihe ac��an ar proceed��.g to be
<br /> dismi�sed wi�h a ruling�hat,zn Lender's good faith deterrr��natzon,precludes f�rfeiture of the Barrotiver's interest�n
<br /> the Property or athex mater�ial �xnpai�-men� of the lien created b�r thi5 5ecur�ty rnstrument or Lender's securi�y
<br /> �ri�erest.Borravver shal�a�so be in default if�orrower,during the�oan applicati�n process,gave mate�iall�r fa�se or
<br /> inaccurate �nforma�xon or s�a.�ements to Lender �or failed to provide Lender wi�h any mater�a� informa�ion� in
<br /> cannectzan wrth�he loan e��denced by�he �orz�ract, If th�s 5ecur�ty�nstrument�s vn a leasehold, Borrourer sha�l
<br /> comp�y with aXl the p�av�s�a��s of the Iease.�f Borraw�r acquires fee title to the Proper�r,the l�aseho�d and the fee
<br /> title shall na�merge unless Lender agrees to the merger in�crri����g.
<br /> Fratection of Lender's R��hts �n �h� Property. If�3orrotiver fai�s �a perf�rm the covenants and agreements
<br /> con�ained in th�s 5 ecu�rity Instrumen�,or�l�ere xs a legal pr�ceeding�hat rnay�ign�f ean�ly affect L�nder's��ghts in
<br /> the Prape�-t� �such as a praceeding in bankrup�cy, prabate, for condemna�ian or forfeiture or to enf�rce lativs or
<br /> regula�ions�, then Lender n�ay do a�d pa�r for whate�er �s necessary to prfltec� �he va�ue of�he Property and
<br /> Lender's right�in th�Proper�y. Lender's actxans may include paying any sums secured by a Z�en which has priQrity
<br /> aver�his Se�urity Zns�rumen�,appearing a.n,court,paying reasonable attorneys'fees and enteri�g an the Prap�ar�y�o
<br /> Ynake repairs.Al�hough Len�Ler may�ake act��n under�his secti�n,Lender daes no�have�o dti so.
<br /> A,.x�� am�un�s dasburs�d by�,�ender under�his sect�on sha�I become addi�ional debt af Barrower secured by this
<br /> 5ecuri�y �ns�rumen�. Unless Borro�ver and Lender agree to other terms af paymen�, �he�e arnoun�s shall b�ar
<br /> �2q04-24t5 Cornpliance Systems,Inc,A6SC-.D4D5-2qI5,3.5,1054
<br /> Cons►�mer Real Estate-Security Instrucnent DL2036 Page 2 of 5 www.campliancesystems.com
<br />
|