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. . . 2� 15�8�89
<br /> Payment of Princ�pal and Interest; �ther�harges.B�rrower shia�I prompt�y pay�vhen�due�he prin��pa�of and
<br /> �n�eres�on�he deb�owed under the C�ntra��an�la�e�harges or any�th�r fees and charges due under the Contrac�.
<br /> A IicabXe Lawe As used in thxs Se�urity �nstrument,��he ��rm "App�ica��e Law" shall mean a�I controlling
<br /> PP
<br /> app�i�able federal, s�a�e and l��al statutes, regulations, ordinances and adm��nistra�i�re rules and �rders ��hat ha�e
<br /> �he effect of lav�}as we��as a�l appi�cable#�nal,non-appea�ab�e.�udic�al ap�n�ons.
<br /> Char es; Liens. B�rra�er s�all�pay a�l �a�es, assessmen�s, charges, fines and imp�s�t��ns attrihutable �o the
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<br /> PrQperty v�rh�ch may atta�n priority over�h�s Se�uri�ty Ins�ru�nen�, and �easehold payrr�en�s ar graund�-en�s, if any.
<br /> A�the request�f Lender,Borr�wer s�a11 pr�mp�ly furn�sh to Lender rece�pts e��dencing the paymen�s.
<br /> Barr�w�r sha�� rom �� d�scharge any lien v�hich has prior�t�r o�er�his Securi�Instrument unless B�rrower: �a}
<br /> p P Y .
<br /> agrees �n wr�ting �o �he pay�ent �f the obligation sec�red by �he li�n in a manner accep�able to Lender; (b�
<br /> con�es�s in go�d faith the �i�n by, �r�defends against enforcement of�he lien �n, lega� proceedings wh�ch in the
<br /> Lender's op�nion opera�e �o preven� the enf�rcemen� of the lien; or �c} secures from the holder of the Iien an
<br /> agreement sat�sfac�ory�o Lender sub�rdinat�ng�he �ie�t�th�s Security�nstrument. �f Lender determines that any
<br /> part of�he Pr�perty is subje��ta a lien wh�ch�nay attain prior�ty �ver this Security �nstrum�n�, Lender may gi�e
<br /> Borrower a not�ce �dentifying�the lien.�Borra�nrer sha�� sa�isf��he ��en or�ake one or.more �f�he actiQns�se�f�r�h
<br /> abo�e��thin 14 days of the gi�ing-of n�tice: � - � �
<br /> Hazard ar Proper�y In�urance. BQrrov�er sha�X keep the impro�eme��s n�w existing or hereafter erec�ed on the
<br /> Property insured agains���ss l�y f�re,ha�ards in�lude�v�ith�n�he term"ex�ended ca�erage"and any ather hazards,
<br /> �nc�uding floods or flooding, f�r which Lender requires insuran�e. This Ynsurance sha11 be maln�a�ned �n the
<br /> amoun�s and for the periods tha�L�nder requires..Th� insurance carr�er pra�rid�ng the insurance s�a�I be�hasen by
<br /> Borrov�er subje��t� Lender's approva� v�hich shall n�t be unreasnnably ��thheld. If B�rrow�r fai�s �o ma�nta�n
<br /> caverage described�above, L�nder may, a� Lender's op�ian, obtain caverage �o protec� Lender's r�gh�s in the
<br /> Property�n a�cordance with section�i�led Proteetion af L�nder's Rights in the Propert�.
<br /> All insuran�e polic�es and re�ewais �hall �e acceptab�e �� L�nder and sha�� inc�ude a s�andard mor�gage c�ause.
<br /> Lender shal�hav��h�right��ha�d the po�i�ies and renewa�s. �f Lender requ�res, Borr�wer sha�l prornp��y g��e to
<br /> Lerider al�rece�p�s of pa�d premiums and rex�e�val nfl�ices. �n�he event o�loss, Borravver shall give pr�mpt notice
<br /> to�he insurance carr�er and Lender. Lender may make pro�f of Ioss if not made promp��y by Bflrrovver.
<br /> Un�ess Lender and Bo�-rower o�h�rwise agree in v�r�ting,� insurance pr�ceeds sha�� be applied �n res�orat�an �r .
<br /> repa�r of the Fr�perty damaged, if, in Lender's s��e discre��on, th� res�oration or repair is economi�ally feasible
<br /> and Lender's securi�y �s not �essened. �f,.in Lender's so�e discre�cion, the res�ora�ion or repa�r �s not ecanomi�al�y
<br /> feasihle or Lend�r's�se�cur��y v�rauld be Iessened,�he insurance proceeds sha�1 be applie�.�o the�sums secur�d by this
<br /> Securi�y �ns�rumen�t,�whe�her or nat �hen due, v�ith any e�.cess pa�d �o Bonrower. If Borrovver abandons the
<br /> . Property,or does not ansvver��vithin�he nr�mber of days�r�scribed by Appl�cable La�as set far�h in a not�ce from
<br /> Lender to Borra�rer�ha��he insurance carr�er has �ffered�o set�le a claim, �hen Lender may co�lect the insurance
<br /> proceeds. Lender may use the praceeds �o repair or restore �he Proper�y or ta pay sums secured by�h�s Security
<br /> �ns�rument,whether ar n���hen due.The per�od�f��me for Borra�er to ansv�rer as se��for�h in�he no��ce v�ill�egin
<br /> vvhen the natice�s g�ven.
<br /> Unless Lender and Borrower�therwise agree �n�tn�riting, any appli�atiori of proceeds to principal shatl no�extend
<br /> �r pos�p�ne the due date of t��paymen�s due under�he Con�ract or change�he am.aunt af�he paym�nts. �f under
<br /> the se��ion�itled Accel�ration; Remedies, the Proper�y is acqu�red�y Lender, Borr�wer's righ�to any insura.nCe
<br /> p��ic�es.and pra�eeds resul�i�g fir�m damage ta �he Pr�per�y prior t� �he acquisiti�n shall pass to Lender�� the
<br /> e�ten��f�he sums secured�y this Securi�y Instrumen��m�ned'za�ely priar�o�he acquisition.
<br /> Pr�serva�i��, Ma�n�enance and Protectinn of the Prop�r�y; B�rrovver's Loan Applicatian; Leaseho�ds.
<br /> B�rrower sha��nat des�roy, damage ar impa�r the Pr�perry, allow�he Propert�to de�er�orate, ar�omm�t v�aste an
<br /> the Praper�y. Borr�wer sha�I�e in defau���f any forfei�ure a�tifln or pr�ceeding;�he�her ci�il or cr�mina�,is begun
<br /> �ha� �n Lender's good faith�udgment�cauld resu�t in farfei�ure of the Properry or �therwise ma�erial�y impair the
<br /> lien created by th�s Securi� �ns�rument or Lender's security interes�. Borr�wer may cure such a defau�t arid
<br /> reinsta�e, as provided in sect�Qn titled Borr�wer's Right �a Reinsta�e, by �ausing�he action or pro�eeding to be
<br /> d�smissed w��h a ru�ing�ha�,in Lender's g��d faith de�erminat��n,pre�lud�s forfei�ure af the Borrower's in�erest�n
<br /> the Property or other materiai impairment of�he �ien created by �h�s Security Instrumen� or Lender's security
<br /> in�erest.Borrower shall also be i�default if Borrower, during�he l�an appl�cation process,ga�e materia�ly false ar
<br /> ina��urate informa�ian or sta�emen�s �fl Lender ��r faiied �o pravide Lender w�th any material �nformati�n� in
<br /> connec�ion wi�h the Inan e�idenced by the C�ntract. �f�his S�cur�ty �nstrumen� is on a leasehold, B�rravver shal�
<br /> comply�v�th all the pro��s�ons of the lease. If B�rrower acqu�res fee t���e to�he Pr�perty,�he Ieasehold and the f�e
<br /> title shall no�merge unless Lender agrees�a the merger in wri��ng.
<br /> Protection �f �end�r's Rig�ts in the Praperty. �f BQrro�ver fai�s �o perform the covenants and agreena�ents
<br /> contained�n�hxs Secur�ty Instru�nent, ar there �s a�ega�praceeding�hat may signifcan��y affec�Lender's righ�s �n .
<br /> �he Praper�y �such as a pro��eding in bankrup�cy, proba�e, f�r �ondemnation or forfe�ture ar to enforce �ar�vs �r
<br /> regulations�, then Lender may do and pay for whate�er is necessar�r to p�v�ect the �alue Qf the Property and
<br /> Lender's rights�n the Praper�. Lender's actions may�nclude paying any sums s�cured by a lien which has priori�y
<br /> over�his Security�nstrumen�, a�pear�ng in�our�;pay�ng r�asflnab�e attorneys'fees and en�ering on the Proper�y��
<br /> make repa�rs.Al�hough Lender may�ake acti�n under this sectian,Lender dQ�s not ha�e to do s�.
<br /> Any amoun�s disbursed by Le�ader under �his se�ti�n shall become addi�ionai debt of Borrow�r secured by this
<br /> Security, �ns�rumen�. Unless E3orrov�er and Lender agree to other t�rms �f paymen�, �hese am�unts shall bear
<br /> Q 2Q�4-�D 15�ompliance Systerns,Xnc.A6BC-6�AE-��15,3.5.1�64
<br /> Cansumer Real Estate-Secursty Instntment I]L2036 Page 2 of 5 www.compliancesysterns.�orr�
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