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2� 15�8�37
<br /> Payrnent of Principal and In�erest; �ther�harges.B�rro�er shall prompt:ly pay vvhen due the principal of and _
<br /> interest on the deb�ovved under the�amtract and late charges or any o�her fe�.,and charges due under�he Contracf�. �-
<br /> Applicable Law. As used in �h�s Securi�y Instrumen�, the �erm "Appli�a�}le Law" shail meam a�� contr��ling
<br /> applicable federal, state and �ocal s�atutes, regu�a��ons, orduaances and adn�i�l�strative rules an� order� ��hat have
<br /> �he effec�❑f�avv)as�uvell as al�applicable final,r�on-appealable�udicia�opinic�ns.
<br /> Charges; LienS. BorrQwer sha1� pay aXI taxes, assessments, charge�, f n�� and impositions at�r�butab�e �o the
<br /> Proper�y�crhi.ch may a�ta�n priflri�y over�his S�curity Ins�rument, and leasehcrld paymen�s or gr�und r�nt�, �f any.
<br /> 14��he reques�af Lender,Barrovver sha�1 promptly furn�sh�a Lender r�ceip�s�;videncing the paymen�s.
<br /> Borr��ver shall prompt��discharge any li�n vvhich has priori�y over th�s Seci�rity Instrument unl�ss B�rrow�r: �a� -
<br /> agrees in wri�ing to the payment of�he obliga�ion secured by the lien �n .a manner accep�abl� to Lender; (b}
<br /> can�ests in gvod faxth the lien by, or def�nds aga��.s� enfar�ement of�he �ien iri, �egal praceedi�gs �rhi�h in �he
<br /> Len�ler's opin�on operate t� pre�en� the �nfarcemen� of the �ien; ar �c� s�cures from. �he hfllder of the 1i�n an
<br /> agre�men�satisfactory�n L�nder subnrdina�ing the Ii�r�to �his S�curi�y Ins�rtxment. �f Lender determines tha�any
<br /> par� of�he Property �s sub�ec�ta a Iien urhich ma�r attain priarity over �h�s Secur��.y Ins�rumen�, Lender ma� give
<br /> Borrovver a notice �dentifying the Iien. B�rrovver sha�I sa��sfy th� �ien or�ake �ne or more of the actin�s se�forth
<br /> above w��h�n I D days of the giving af notice.
<br /> Ha�ard ar Praperty Insuranced Bo��ro�v�r shall�eep �he impravements n�v�r existing ar hereafter ere�ted on the
<br /> Prflper�y insured against loss by�re,hazards included,with�n�he�erm"ex�enc�ed coverage" and any a�her haaards,
<br /> ine�uding floads or f�ooding, far which Lender r�quires �r�surance. This i��.surance sha�� �be ma�nta�ned xn the
<br /> amounts and far�he periods that]Lender requir�s. The insurance ca.rrier pr�vic��ng�he insurance sha�l be chosen by
<br /> Bflrrov�er sub�ec� t� Len�ler's approval vSrhich shall nat be unreasonably vvithhe�d. If Bnrr��er fazls t� main�ain
<br /> coverage described abo�e, Lender may, at Lender's opti�n, �btain Covera,�� ta prntec� Lender's r�gh�s in the
<br /> Property in accardance tivi�h sec�ion�itled Pr�tect��n af Lender'S R�ghts�n�he Pr�per�y. �
<br /> AlI i�asurance policies and reneurals shall b� acceptable to Lender and shal� in�lud� a s�andaxd mor�gag� c�ause.
<br /> Lender shall have the right ta ho�d the pnlicies and renev�rals. If Lender requi:res,B�rrovver sha�l pr�mp�I�r g�.v�tfl
<br /> Lender a11 receip�s of paid premiums and renevval notices. In the even�of�os�, Borrower sha��gzve prompt not�ce
<br /> ta the insurance carrier and Lender.Lender may mal�e proof of lass if nat mad.e pramp��y by Barrovver.
<br /> Unl�ss Lender and Borro�r�r ather-v�ise agree in �vri�ing, insurance prace���s shall be appl�ed �v res��ra�i�an or
<br /> repair of the Property damaged, �f, in Lex�der's svle discretion, the restara��c�n or r�pair is econam�ca�ly feasible
<br /> and Lender's security is no� �ess�ned. If, in Lender's s�1e d�scre�ion, �he restcara�i�n or repa�r is no� ec�n�mica�l�
<br /> feasi�le or Lender's securi�y would be less�ned,the insurance pr�ceeds shall be applied�a the sums secured by this
<br /> Securi�y Instrumen�, whether or not �h.en due, wi�h any excess paid �o B3�rrovver. If Borrovver abandons th�
<br /> Property,ar does not answer wi�hin the number af days prescr�bed by Appl����ble La�v as se��ort��n a n�t�ce from
<br /> Lender�o Borr�Wer�hat�he insurance carr�er has offered�a s��tle a claim., �h.en Lender may collect�he insurance.
<br /> proceeds. Lender may use the proceeds �� repair �r re��ore �he Property or ta pay sums secured by t�is S��urity
<br /> �nstrumen�,�vvhether or no�then due. The period of�ime for Barr�wer ta ansv►rf�r as set forth�n the notice,wi��i�eg�n
<br /> vvher��he no�ice is given.
<br /> Unless Lender and Barrower otherwise agre� �n wr�ting, any applicati�n of proceeds�❑princ�pal sh�.Il n��ex�end
<br /> or postpane the due date of the paymen�s due under th� Contract or change�:he amount of�he payments. If under
<br /> �he sectian ti�led A��eleration; Remed�e�, �he Properry is acquired by Lend��r, Borrower's right�o any insurance
<br /> pol�cies and proceeds resulting f��m damage to the Property pri�r to the a�+�uisitxon shal� pass tQ Lender to the
<br /> extent of the sums secured by�his Security�nstrumen�irnmedia�ely prior�o th�:acquisx�i�n.
<br /> Pr�servation, Maintenance and Prote���on of the Property; Borr��w�r's Loan App��ca�xan; Leas�ho�ds.
<br /> Bflrrower shal�no��estroy, damage�r�mpair the Property, allow�he Praper�y ta deteri�ra��, ar camm�t�va�te on
<br /> the Proper�y.Borro�ver shall be in defau�t�f any f�rfeiture a��ion ar proceed�ng,v�rhether��vil�r criminal,is begun
<br /> �hat in Lender's g�od faith judgmen� could resu�t in farfeiture �f the Property flr athe�-wise materia�ly �mpair �he
<br /> lien �reated by th�s Security Ins�rument �r Lender's security in�erest. Borrower rnay �ure such a defaui� and
<br /> reinsta�e, as pra��ded in section�it�ed�arr�wer's FZight to Reinsta�e, by causing�he ac�iQn�r proceeding to be
<br /> ��smissed v�ri�h a ruling that,in Ler�der's g�od fa�th determi.nati�n,precludes fc�rfeiture of�he Borr�wer`s�n�er�s��n
<br /> �he Propet�y ar other materia� impairme�.t of the Iien crea�ed by �his Sec�a��ity �ns�rument ar Lender's seGurity
<br /> inter�st.BorroWer shall also be in defaul��f Borro�ver,dur�ng�he loan applic���ion process,gave materially fa�se or
<br /> ina�curate �nformation or statemen�s ta Lender �ar failed �o provide Lender vvi�h any m.aterial informat�on} in
<br /> connect�on wi�h the �nan evidenced by �h� Contrac�. �f�his Security Instru�ent is on a�easeho�d, Borrov�er sha�1
<br /> comply vvi�h all�he pro�isi�ns of t.�ie lease. If B�rrower acquires fee ti�le to��:Pr�perty, t.�ie�easeha�d and�he fee
<br /> �i��e shall not merge unless Lender agrees t��he merger in wr�t�ng.
<br /> Protec�ifln vf Lender's R�ghts �in the Fr�perty. �f�3orrovver fails tQ pe��orm �he c�venan�s and agreer�ents
<br /> con�ained in this Security Instrurnen�, �r��ere zs a Iegal pr�ceeding that may;aign�fican��y affec�Lender's�ights in
<br /> the Property �such as a prQceeding in bankruptcy, proba�e, for condemnat�ox� or forfeiture or to enf�r�e laws or
<br /> regu�a�iflns}, then Lender ma�r d� and pay fflr whatever is necessary to prc��ec� the value �f�he Praperty and
<br /> Lender's righ�s zn the Property. Lender's ac�ions may inc�ude paying any sums secured by a I�en which has pri�rity
<br /> over this Security�ns�ru.ment,appearing i.n caurt,paying reasonable a��arn�ys'fees and entering on�he Prape�y to
<br /> mal�e repairs.Althaugh Lender may�ake action under th�s section,Lender doe��no�have�o do so.
<br /> Any amaun�s disbursed by Lender under �his sectian shal� become addi�ivn��l debt of Barro�w�r se�ure� by this
<br /> 5ecur�ty Instrumen�. Unless Barrovver and Lender agree to other terms o�paymen�, these amoun�s shal� bear
<br /> fl 24��4-2�15 Com�tian�e Systerns,Inc.8C54-95A4-2fl I S.1�.3,1498
<br /> Cvnsumer Reat Estate-Sect�rity�nstrument�]L2�35 Page 2 of 5 www.compliancesystems.com
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