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2� 15�84�2
<br /> Applicable La�v. As used in this Security Instrumen�, the �erm "App��cable Lavv" sha�� mean a�I can�rol�ing
<br /> applicab�e federal, sta�� and ��cal statu�es, regu�ati�ns, ordinances and administrative rules and arders �th�.t have
<br /> the effect of�aw}as wel�as a��appl�cable final,non-�.ppealable�udicia�opini�ns.
<br /> �harge5; Liens. Barro�ver ��hal� pay alI �axes, a�sessm�nts, charges, f�.es and impos���ans attr�bu�ab�e to the
<br /> Pr�per�y v�rhich may attain pr�ori�y o�er�.his 5ecurity Ins�rument, and �easehold paym�n�s or ground ren�s, if any.
<br /> At�he request�f Lender,BorrouTer sha�l promp��y fu�-nish�a Lender receipts evidencing the paym�n�s.
<br /> Borrower shall promp�ly disGharge any��en u�hich has prior�ty�ver�his 5ecurity�nstrument unl�ss Borravver: �a}
<br /> agrees in wr�ting �� the payrnen� af the obl�gation secured by the lien in a manx�er accep�able to Lender; (b}
<br /> contes�s in go�d faith ��e �i�n by, ar defe�ds against enforcement of�he ��en in, �egal praceedings v�hic� in the
<br /> Lender's opinifln operate �a preven� �he e�.forcement of the 1ien; or �c} secures fram �.e hald�r of�he I�en an
<br /> agreemen�sa�xsfactory ta Lender subardinating the �ien to �iis 5ecuri�y Instrurnen�. If Lender detez�nines�hat an�r
<br /> par�flf�he Property is subj e�t�o a Iien�vh�ch may a�tain priarity over thzs Secur��r�ns�rument, Lender may give
<br /> B�rrourer a not�ce identifyin�the �ien. B�rrower shal� sa�isfy�he l�en or�ake one �r more of the ac�ians set for�h
<br /> abo�e wit.�iin �D da�rs af the giving of natice.
<br /> Hazard or Property Insuran�e. Borro�ver shall keep �he improvements nou�ex�s�ing ar hereafter erected�n�he
<br /> Praperty insu.red agains��oss by f re,hazards included tivi�hin�he�erm"extended coverage" and any a�her ha�ards,
<br /> �ncluding floods ar flflo�in�, f�r which Lender requires insurance. This insurance sha�l be rnain�ained in the
<br /> amount�and for�he periods�hat Lender requires. The�nsurance carrier providing�he insurance sha��be�hasen by
<br /> Borrawer sub�ect �o Lend�r's approval vvhich sha�l n�t be unreasonably vtTithhe�d. If Borrower fails ta n�aintain
<br /> coverage described above, r.�ender may, at Lender's op�i�n, obtain coverage to pro�ect Lender's righ�s in �he
<br /> Pr4perty in accordance with section�itled�rot�ction flf Lender's Rights in fhe PrQperty.
<br /> A�� xnsuran�e policies and r�nevvals shall be ac�ep�ab�e �a Lender and shall in��ude a s�andard mortgage clause.
<br /> Lender shall have�he r�ght t�hold the palicies and renewals. If Lender requ�res,Barro�ver sha�l prQmpt�y giv��o
<br /> L�nder a��receipts of paid premiums and renewal not�c�s. �n th� even�of loss, Borrawer sha�l give prompt nat�C�
<br /> to the insurance carrier and Lender.Lender ma�mai��praaf of�flss if nvt made prompt�y b}�Borrovver.
<br /> Unless Lender and Borrflvver otherwise agree in wri��ng, insuranc� proceeds shall be app��ed to restara��on or
<br /> repair af the Proper�y� darnaged, if, in Lender's sol� discre�ion, the res�ora�ion ar repa�r is economically feasible
<br /> and Lender's secur�ty is not �essened. �f, in Lender's sole discre�ion, the restorati�n or repair is na� ecflnom�cally
<br /> feasible or Lender's securi�y�rould be lessened,th�insuranc�proceeds sha��be appli�d�o the sums secured by�his
<br /> Securzty Instrum.�nt, whe�her or no� then due, wi�h any excess paid �a Borrovver. Yf Borrovver abandons the
<br /> Property, or does not anstiver w�thin�he num�aer of da�s pr�scribed b�Appiicable Law as se�fox�h in a no�ice fr�m
<br /> Lender to Barro�t7ver tha�the insuran�e carrier has affered to se�tie a claim, then Lend�r may co�lec��he�nsurance
<br /> pr�ceeds. Lender may use the proceeds ta repair or�estore �he Pr�perty �r�o pay sums secured�y this Secur�ty
<br /> �ns�trument,tivhether or not th�n due. The period of�im�for Borrovver to answer as se�f�rth in the na�ice wi��begin
<br /> ,wh�n the notice is given.
<br /> Unless Lender and Bvrrower otheru�ise agree in writing, any applica�ion of proceeds ta princ�pal shall not extend
<br /> or postp�ne�he due da�e of the pa�ments �ue ur�der the �ontract or change the amount af the pa�ments. 7f under
<br /> �he sec��on title�Acce�erat�rnn; Re�med�.es, the Propert�is acquired by Lender, Borrovver's r�gh��� any insuran�e
<br /> palicies and praceeds result�ng fram� damage ta �.he Properry pri�r tQ the acquisit�on shal� pass �o Lender to the
<br /> ex�ent of the sums secured by th�s Secu.ri�y Instrument immed�ate�y prior���he acquisiti�n.
<br /> Prese�-�vat��n, Maxntenanc� and Pr�tectxon of the Property; Barrower's Loan Applica�ion; LeaS�ho�ds.
<br /> B�rrawer shall n�� des�roy, damage or impair the Property, a11oW the Proper�y to de�eriorate, or commi��vaste an
<br /> �he Property. Borro�wer sha1l be in defau��if any fnrfei�ure action or proc�eding,Whe�her c�vi�ar crxmir�al,�s begun
<br /> that in Lender's good faith judgment couid result in farfeiture �f�he Property or other�vise mater�ally impair the
<br /> lien created �y this Se�urit� Instrumen� or L�nd�r's security interest. B�rrativer may cure such a defaul� an�
<br /> re�ns�ate, as pravided in sect�on t��led Bar�ow�r�s Right �o Reins�ate, �ay causing the ac�ion or proce�ding to be
<br /> d�sm�sseci w�th a ru�ing that,xn Lender's ga��fa�th de�ermina�ion,prec�udes forfeiture of�he Barrtiwer's in�erest in
<br /> the Praperty or �ther material impairmen� af�he lien created by �his Securi�y Instrumen� ar Lender's security
<br /> interest.Borrower shal�also�e in�efaul�if Borrflwer,during the�oan appl�catian pr��ess,gave xna�eria��y fa�se or
<br /> inaccurate infarma�ion or statemen�s to Le�der �or fai�ed to provide Lender ,wi�h any ma�erial information} i.n
<br /> conn�ct�fln�ri.th the ��an evidenced�y the CQn�rac�. If this Security�ns�ru.ment is on a leaseh�ld, Borro�w'er shall
<br /> camply w��h a��the pravisions�f the lzase. �f Borr��ver acquires fee title to the Property,�he leaseho�d and�he fee
<br /> title shall nvt m�rge unless L�nder agrees ta�he merger i�wri�ing.
<br /> Pr�tectifln vf Lender's R�ghtS in th� Property. If B�rra,wer fails to perform �he c�venan�s and agreements
<br /> �ontained�n this 5ecurity Ins�ru.ment, flr there is a lega�proceeding that may significan�ly affe�t Len�er'�rights in
<br /> the Property �such as a pr�c�ed�ng in bankruptcy, proba�e, far condemna�ian or forfeiture or to enforce laurs or
<br /> regulatians}, th�n Lender may do and pay for w�atever is necessary ta protec� �he value af the Property and
<br /> Lender's rights in the Property. Lender's actions ma�include pay�ng any sums secured by a Iien vvh�ch has priority
<br /> o�er�h�s Se�urit��nstrumen�, appeaxing in court,pay�ng reasonable attarneys'fees and en�ering on t.�ie Pr�perty to
<br /> make repairs.A�thaugh Lend�r may ta�e a�tian und�r�this section,Lender does nat have to d�so.
<br /> Any amoun�s disbursed by Lender under �his sectian shall becoxne add�tzo�.al d�bt af Borrovaer secured by this
<br /> Security Instrumen�. Unless Borrovver and Lender agree fa a�her terms af paymen�, these arnoun�s shall bear
<br /> interest fr�m the da�e of d�sbursemen� a� the sam� rate assessed on advances under �he �ontra�� and sha�� be
<br /> payable,u��h�nterest,upon no��ee from Lender t��orrower rec�uestzng payment. �
<br /> 0 2444-��15 Compliance Systems,In�.8CS4-77B 1-2�I S.1 I.3,I498
<br /> Conse�mer Real Estate-Security Instrument DL2a3d Page 2 of S www.carrfplianGesystems.cam
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