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��1 5�7�94
<br /> Payment of Prin�xpa�and Interest; �ther�harges.Borrou�er shall promptly pay�vhen due the princ�pal of and
<br /> interes�on the debt atived un�er�he�ont�ac�and late charges or any o�her fees and charges due under�he Contrac�.
<br /> Appli�able Law. As used �a. this Securi�y �ns�rument, the �erm "Applicab�e Law" shall mean at� co��r�ll�g
<br /> appli�abte federa�, state and lacal statutes, regulations, ordinance� and admin�stra�ive rul�s and orders �tha�have
<br /> xhe effect af law�as well as all applicable final,non-appea�able�udxcial op�niflns.
<br /> �harge�; L�e�.s. Borrotiver shall pay all �axes, assessme�.ts, charg��, fnes and i�npas�tion.s attri�utab�e to the
<br /> Pr�p�r�r tivhich may at�ain priority�ver this Security�nstrurnent, and leasehQld payments or graund ren�s, if any.
<br /> At�he request of Lender,Borrower sha��prornptl�furnish to Lender receipts evidenc�ng the paymen�s.
<br /> B�rra�rer shall prompt�y discharge any��e�which ha�pr�or�ty over thi� Security�ns�rurnent unless Barrower: ta}
<br /> agrees in vvriting t� t�he pa�ment of�he obl�ga�ivn secured by the ��en in a manner accep�able to Lender; ��}
<br /> contes�� �n good fa.�th the lien by, or def�nds against enfarcement of the ��en in, �ega� proceedings v�rhich in the
<br /> Lender`s opinron operate t� pre�en� �he enf�r�ement �f the li�n; ar �G} secures from the holder af the Iien an
<br /> agreem�nt satisfact�ry to Lender subordinating�he l�en t�thxs Security Instrument. �f Lender determines�ha�any
<br /> par��f the Prapez-ty�s subj ec�ta a l�en Wh�ch ma�r attain priori�y o�er th�s Secur�ty Ins�rumen�, L�nder may give
<br /> Barro�ver a notice iden�ify�n�fi.��l�en. Borrovv�r shall sa�isfy the �ien ar ta�e ane or more of th� ac�.ons se�forth
<br /> ab�ve w�th�n 1�da�s of�he giving of noti�e.
<br /> Hazard ar Pr�perty InsuranCe.Borrawer sha�l keep the imprQ�ements novv�xisting o�r hereafte�erected on the
<br /> Praperty insure�.aga�nst I�ss by fire,ha�ards includ�d vv�thin the�erm"�x�end�d co��erage" and any o�her hazards,
<br /> inciuding flaads or f�ooding, for vvhzch Len�er requires �nsurance. Th�s insurance shall be m�.inta�ned in the
<br /> am�un�s and for the periods that Lender requ�res.The insurance carrier prov�ding the insurance sha��be chosen by
<br /> Borro�ver sub�ect �� Len�ier`s appraval which sha11 no�be unreasonably tivithheld. If Barrawer fails to maintain
<br /> caverage described above, Lender may, a� Lender'� aptian, abtain coverage ta protect Lender'� rights in the
<br /> Property in accordance u�i�h sec���n�i�led Frotec��4n of Lender's R�ights in the Proper�y.
<br /> AiI insuran�e polic�es and rene�als shal�be acceptable �o Lender and shall include a standard mar�gage c�ause.
<br /> L�nder shali have the right to ho�d the p�licies and renewals. �f Lender requ�res, B�rro�rer sha�l prompt�y give to
<br /> Lend�r al�receipts�f paid premiums and renewal n��ices, �n�he e�ent Qf�oss,Borro�er shal�give prornpt na�ice
<br /> ta�he�nsuran��car��er and I�ender.Lender may rna��pro�f of loss zf n��made prornpt�y by Borrnwer.
<br /> Un�ess Lender and Borrov�rer otherwise agree in wri��ng, �nsuranGe pr�ceeds �hall be applied to restoratian or
<br /> repair�f the Praper�y damaged, if, in Lender's sole discre��fln, the restflration or repair is economically feas�ble
<br /> and Lender's security is no�Iessened. �f, in Lend��'� so�e discre�ion, the restnrati�n or repair is n�t economically
<br /> feasible or Lender's security w�uld be lessened,the insurance pro�eeds sha��be applied to the surns secured by this
<br /> 5ecurity �nstrument, whether vr ��ot then due, with any excess pa�d to Barro�er. If Borrower abandans the
<br /> Proper�y,o�doe�no�answer u�.thin the number af days prescribed by App�x�abl�Law as set foz-�h in a notice from
<br /> Lender to Borrower that the insurance carrier has affered�o sett�e a claim, then Lender may collec��he in�urance
<br /> pr�ceeds. Le�der ma�r use the praceeds ta repair or restore the Praper�y or to pay sums secured by�h'rs Security
<br /> �nstrument,whether or�ot�hen due.The period of t�me far Borrower to ans�rer as set for�h ii��he n�t�ce yvi�l begin
<br /> when the notice is given.
<br /> Unless Lender arid Barrovver otherv,�ise agree v.�wr�t�za.g, any appl��a�ian af praceeds�o principa�sha��nat ex�end
<br /> or pns�p�n��he due date af�he payments du�under�he Contract or change the amaun�of the payments. �f unde�r
<br /> the sec�ion ti�Ied A��eleration; Remedies, the Praper�y�s acquired by Lender,B�rrv�ver's righ��� any insurance
<br /> policies and proce�ds resulting from damage r� the Property priar �� �he a�qu�s�tion shall pass �� Lender ta �he
<br /> e��ent of the surns secu.red b��his Securi�y�nstrurnen�imrned�a�e�y prior�o�he acquisit�on.
<br /> Preser�at�an, Maintenanc� and Pro�ectxan of the Proper�y; Borrower's Loan Applica�ion; Lea�eholds.
<br /> Borrower shal�no�destr�y, darnage or zrnpair the P�-oper�y, aX�tiur�he Property t� deteri�rate, ar c�mrnit tivaste on
<br /> �he Prapert�.Borrau�er shal�b�i.n.d�faul��f any forfe��ure ac�ion or proceedzn�;,whether civ�l or crirninal,i�begun
<br /> that xn Lender's good faith judgrnent could result in forfeiture of the Pr�perty �r athe�-w��e materiaX�y impair�he
<br /> lien �reated b�r this Security Instrurn�nt �r Lender's security interes�. Borro�er may cure such a default and
<br /> reinstate, as pravided in sect�on#itted Bvrrower's Ri�ht ta Reinstate, by causing�he ac�iol��r pr�ceeding�o be
<br /> dismissed w��h a ru�u�.g tha�,�n Lender's gaod fazth de�errnination,prec�udes forfeiture of�he Borro�r�r's in�eres��n
<br /> the Propert� or ��her rnater�a� zmpairment of the lien creaxed t�y this Sccur�ty �nstrument ar Lend�r's security
<br /> �r��erest.Borrower sha11 als�be in default if Bnrr�wer,during�he Iaan app�ica�ian pr�cess,ga�e mater�ally fa�se ar
<br /> inaccturate �nformatian ar s�a.�ements �� Le�der �or fa�ied �o provide Lender vvi�h any ma�erial infvrmati�n� in
<br /> cannection w�th�he�oan e�rrdenced by the �ontract. If this SeCurity Ins�rument is on a I�asehald, �orrower sha�l
<br /> compl�wi�h a�1 the provisians af the l�ase.If Bo�rawer acquires fee tit�e t�the Property,�he�easehold and the fee
<br /> ti��e sha11 not merg�unless Lender agrees�o the merger in wri�ing.
<br /> Protee�ion of Lend�ris I�ghts in th� PrQperty. If Borraw�r fails t� perfarm �he co�vena�t5 ar�d agreements
<br /> can�ained�n this Securi��ns�rumen�,ar there is a legal proceed�ng that may s�gnifzcantly affect Lerider's righ�s in
<br /> the Propex�ty�such as a proceed�ng in bankruptcy, probate, far condemnat�on �r forfeiture �r to erifgrce laws ar
<br /> regulati�ns�, then Lender may do and pay for wha�ever is necessary to pr�tec� the value of the Proper� and
<br /> Lender's rights�ri�he Pr�perty.Ler�der`s actions may include pay�ng anyr�ums secured by a Ixen v�rhich has priQri�y
<br /> �ver�his Securi�y�ns�rurnen�,a�pearing in court,paying reasonab�e attorneys'fees and enterrng on�he Pra�erty to
<br /> make repairs,Although Lender may take actian under�his sect�on,Lender does nv�ha�tre ta da sv.
<br /> Any amflun�s dxs�aursed by Lender under�hxs secti�n sha�1 become addi�iona� debt �f Barro�ver se�ured hy this
<br /> Se�urity rnstrument. Un��ss S�rrotiver and Lender agr�e ta oth�r terms af paymen�, these arnounts shall beax
<br /> d 2���-2a i 5 Cornpliance Systems,Inc.A6BC-BCES-2a I 5.3.5.1�54
<br /> Consumer Real Estate-Security ir�strurnent DL2435 Pa�e 2 of 5 wwtiv.c�mplian�esyst�rns.cvm
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