2� 15�8425
<br /> Pa ment�f Princ�pal and Interest; ��h�r�harges.Borr��er shal�promp�Iy pay�hen due�he pr�n�ipa�of and
<br /> Y
<br /> �nterest�n�he debt owed und�r�he�on�ra��arid�ate�harg�s�r any��her fees an4�charges due under the C�n�ract.
<br /> App���ab�e Lav�v. As used in �his S��uri�y �ns�rument, �he term "Appl�ca��e :Law" shall nlean all cantr��I�ng
<br /> applicabte federal, s�a�e and lo�al statu�es, regula�ions, ordina��es and adm�nlstr�a�i�e ru�es and �rders ��ha�ha�re
<br /> �he effect vf law}as wel�as all applicable f na�,n�n--appea�ab��judlclal op�n�ons.
<br /> Charg�s; Liens. Barraw�r shall pay a�l �axes, assessrnen�s, �harges, fn�s an�3 �mp�s�tions at�ributab�e �o the
<br /> Property which may a�ain pr��ri�y aver�his Security�ns�rument, and leaseho�d��aymen�s �r graund rents, if any.
<br /> At the request of Lender,B�rr��ver sha�l prnmptly fu�-nish�o L�nder re�elpts ev�dencrng�he payments.
<br /> Borrnvver sha��prom���y d�scharge any lien which has prior�ty a�er th�s Secur�t���ns�rument unless Borro�ver: �a�
<br /> agrees in �ri��ng to �he pa�ment af the obligatifln secured �y the l�en �n a rr�anner accep�able tfl Lender; �b�
<br /> cantests in gaad faith the Iien ��, �r defends aga�nst enfarcement af the 1�en �i, lega� �roceed�ngs v�h�ch in t�e
<br /> Lender's op�n�on apera�e �� pre�ent the en�or�ement af�he �ien; or �c} se�ures fr�m �he hold�r of�he lien an
<br /> agreemen�satisfac�ory�o Lender sub�rdina��ng the Iien to�his Securi�y�nstrurrnen�. 7f Lender determines�ha�t a�y
<br /> part of the Pr�perty is subjec�t� a �ien �vh�ch rnay at��in pr�ority ��er�hYs Securi�,y �ms�rumen�, Lender ma� glve
<br /> Borrower a not�ce identifying�he lien. Borrower shall sa��sfy�he Iien or take �ne ar more of�he ac�ions set farth
<br /> above vvith�n ��days�f the g�v�ng of n��ice.
<br /> Hazard or Prap�r�y Insurance. Borra�er sha�l keep�he impro�ements now e��isting or hereafter erected on�he
<br /> Proper�y insured against�ass by fi�e,hazards�ncluded with�n the�erm"ex�ended ca�erage" and any other ha�ards,
<br /> inc�uding flfl�ds or flaad�ng, f�r which Lender requires insurance. Th�s 1175�.1?�anc� sha�1 be maintained �n the
<br /> amoun�s and for the peri�ds�hat Lender r�quires. The insurance carr�er p����din���he�n�urance shal�be chosen by
<br /> Borrower sub�ec� to Lender's appr�va� wh��h shal� not b� unreasonably v�i�hh�:id. If Borrower fai�s to ma�ntain
<br /> c�Werage described ab�ve, Lend�r may, at Lend�r's aptian, obtain c��erage to pr�tec� L�nder's r�ghts in the
<br /> Praperty in a�cordance with sec�ion�itied P�-a�ecti�n of I1ez�d�r's Rights in th�Property.
<br /> Al� insurance p�licies and rene�als sha11 l�e ac�eptab�e �o Lender and sha�i in���ude a standard mor�gage c�ause.
<br /> Lender shall have the right t�ho�d�he pa�ici�s and renewals. If Lender requires,Barrower shal� promp�ly g���to
<br /> Lender a�l rece�p�s�f paid prem�ums and ren�vva� notices. �n�he event of 1ass, �3orrower sha�l gi�e pr�rnpt r�otice
<br /> �o�he insurance carrier and Ler�der.Lender may m�.ke proof of loss if no�made��rampt�y by��rrower.
<br /> Un�ess Lender and Borrower ��her�ise agree in wri�ing, insurance proceeds �ahali be appiied to res�ora��on or
<br /> repa�r af�he Pr�per�y damaged, if, in Lender's st�le d�s�ret�on, ��e restara�ion E�r repair �s econamica�ly feasi�le
<br /> and Lender's securi�.y is not lessened. �f, in Lender's sale disC�retian, the res�oration �r repa�r �s not econon�zc�ll�
<br /> feasible ar Lender's securi�y v�rould be Iessened,�he insu�rance pr�ceeds shall be�:pp�ied�o the sums se�ured by thYs
<br /> Secur�ty �nstrumen�, whether or no� �hen due, vvi�� any ex�ess paid �� Borrower. �f Borr�wer abandans �he
<br /> Prope�-ty,or daes no�answer w��hin�he numb�r of days pres�ribed�y Ap�lica�blEv Law as�e�far�h in a no���e frvm
<br /> Lender�o B�rrov�er�hat the insurance carrier has offered ta sett�e a claim, �hen Lender may ca�lec��he insurance
<br /> pr�ceeds. Lender may use �he proceeds ta repa�� or res�ore the Pr�perCy or�� ��ay sums secured b��his S�curity
<br /> InS�f'UTl��I7�,vvhether or not thex�due.The peri�d�f time far Borrower to answer E�s set for�h in the no��ce vvi11.b�gin
<br /> when the natice is gi�en.
<br /> Unless Lender and Borrower�therwise agree in v�ri��ng, any appl��a�ion vf pro��eeds�o pr�n�ipa� sha�I n�t extend
<br /> or pastpone the du� dat� of the payments due under�he Contract or change�h� amount of the paymen�s. �f under
<br /> �he sec��on titled A��elera��on; l�.emed�es, the Propert}� is acquired by L�nder, Borrov�er's right�� any insurance
<br /> pal�cies and �roceeds resu�ting fr�m damage �� the Pr�perty pri��to the acquis���on sha�� pass to L�nd�r�o the
<br /> e�tent�f the sum.s secured by���s Security�nstrumen�imrr�edia�ely prior�o�he acquis����n.
<br /> Preser�ation, 1V�aintenance �nd Pr�tectian of the �roperty; �3orrower'� Laan App�icat�on; L�aseholds.
<br /> Ba�-rower shal�no�destray, darnage ar impair�he ]Pr�per�y, a��ow�he �r�perty�:o det�r�orate, or camm�t v�aste ❑n
<br /> �he Pr�pet�y.Borr�v�er sha�I�e in default�f any farfeiture ac��on flr proceeding,v�he�her civ�l or cr�minal,�s begun
<br /> that in Lend�r's gaod faith j udgment could resu]t in farfeit�re af th� Property ��r ��herwise materiall� impa�r�he
<br /> �ien crea�ed by th�s Secur��y Instrumen� or Lender's securi�r interes�. Barr��ver may cure such a defaul� and
<br /> reinstate, as pro�ided in secti�n t���ed �orrower'� Right ta A�einstate, by cau�ing the action or proceeding�o be
<br /> dis�ni�sed with a ru�ing that,in Lender's go�d faith�eterminati�n,precludes fo�feiture of the Borrav�rer's in�eres�in
<br /> the Pr�perty �r o�her mat�r�al impai�men� af the �ien created by �h�s Secur�ty �nsfirum�n� �r Lender's secu�ity
<br /> interes�.Borr�vver sha��also be in defau��if B�rrovver,during the loan appl�cat�c�n pracess,ga�e ma�erially fa�se or
<br /> inaccurate information �r stat�ments to Lender ��r failed �o provide Lender with any material infarma�ion� in
<br /> c�nne��ion with the loan evidenced by the ��ntr�ct. If th�s Securi�y �nstrument is on a Ieasehald, Borro�er sha�l
<br /> c�mply v�i�h a11 the provis�ans�f the lease. If�3�rrovver acquires fee�itle�o th�:Property,�he�easehald and�he fee
<br /> �i��e shal�not merge unless Le�der agrees�o�he merger�n wri�ting.
<br /> p�-utection of Lender's R�ghtS in th� Praper�y�. �f Barrawer fails to perfo�:�m the c�venan�s and agree�nen�s
<br /> c�nta�ned in this Securi�y Instrument, or there �s a legal pr�ceeding tha�may si�;nifcantly affect Lender's rigk�t� in
<br /> �he Property �such as a pr�ceeding in bankruptcy, proba�e, for condernnation +�r forfeiture ar to �nforce laws or
<br /> regu�ati�r�s}, �hen L��.der may do and pay for rn�hate�er is necessary �fl prot�vc� �he �a�u� of the Pr�perfi� and
<br /> Lender's rights in�he�?roper�y. Le�der's ac���ns may in�lude paying any sums s€�cured by a lien which has priflrity
<br /> aW�r�his Secur�t��ns�rument, appearing in cour�,�paying reas�nab�e at�orneys'fves and enter�ng on�he Pr�pert�to
<br /> make repairs.A�though Lender may�ake action under this sec��on,Lender does:r�at have�o do s�.
<br /> Any amaun�s disbursed by Lender under ��is se���a.n sha�l become additiana� debt af�orrow�r secured by �his
<br /> Securit� �ns�trumen�. Unless Barrawer and Lender agree tfl o�her terms of payment, these amounts sha�I Y�ear
<br /> �24D4-2415 Coxnpiiance Systems,In�.SC54-BOE7-20I5.l 1.3.kQ98
<br /> Consu�ner Rea3 Estate-SecuriEy Instrument DL203b Page 2 a�5 www.compliancesysterns.cQm
<br />
|