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2� 15�8�39
<br /> Payment of Pr�ncipal and Intere5�; Uther Charges.Borrower sha�l pr�mptly pay when due the principa�of and
<br /> in�eres�an�he debt owed u�der the�on�rac�and 1a�e charges or any o�her fees and charges due under the�on�ract.
<br /> Appli�ab�e Lavv. As us�d in this 5ecurity Instrument, the �erm "Appli�able Lavv" shall mean all contrallxng
<br /> appli�able federal, s�a�e and local s�a.tutes, regulatian�, ordinances an�i adminzstrative rules and ord�rs (that have
<br /> the effec�of 1aw�as well as a�I applicab�e fnal,nan-appea�a�b�e judicial op�nians.
<br /> �harges; Liens. Borravver shall pay a�l �axes, ass�ssments, charges, f nes and imposi�ians at�ribu�a.ble �a �he
<br /> Pr�perty�vhich may a��azn priority aver�h�s Securi�y Instrument, and�easehold paym�n�s �r ground rents, �f any.
<br /> A��he r�ques�af Lende�,Borrovver shall pramp�ly furnish�a Lender receipts e�idenc�ng the paymenfs.
<br /> B�rrow�r shal�promp�ly discharge any�ien Which has pr�or��y over th.�s Security Ins�rument unless B�rrower: �a}
<br /> agrees �n wr��ing to the payment of the ob�iga�ion secured by the �ien �n a manner acceptab�e to �.ender; �b}
<br /> cantests in gond faith �he lien by, ar defends aga�ns� enforcement of the lien in, legal praceedzngs wh�ch �n the
<br /> Lender's opini�n aperate to prevent �he enforcemen� af�he lien; or �c� secures from �he holder af th� l�en an
<br /> agreemen�sa�isfactory to L�nder subordinat�ng the Iien�o �h�s Se�urity�nstru.men�. If Lender deterrnines that any
<br /> par�of�he Praperty is sub�ect�� a Iien which may a�tain priority aver this Secur�ty�ns�rument, Le�der ma�g�ve
<br /> Barrotiver a notxce �den�ify�ng the �ien. Borrawer shal� sat�sfy the �xen or�ake one �r more of the actions se�for�h
<br /> above vvithin 1 Q days flf th�giving�f notice.
<br /> Hazard or Property In�urance. BQ�-r�,wer sha1�I�eep the �mprovemen�s n�w existing or herea#�er ere�ted on the
<br /> Praperty insured agains�loss�ay f re,haza.rds zn�luded wzthin the�errn"extended coverage" and any o�her hazards,
<br /> inc�uding f�oods or floading, for tivhich Len�ier requires insurance. This �nsurance sha1� be maintained in the
<br /> amoun�s and f�r�he periods tha�Lender requires. The insurance carr�er providin�the insurance sha��be chosen by
<br /> B�rrawer subject tfl Le�.der's approva� which sha�1 na� be unreas�nal�Iy �vithhe�d. If Borrower fails to �naintain
<br /> caverage described above, Lender may, a� Lender's op�ion, obtain coverage �o pro�ect Lende�'s r�ghts in �he
<br /> Property in accordanc�with se�tion titled Pr�t�c�ion vf Lender's Rights xn the Property.
<br /> Ali insuranc� policies and �enewa�s shall be accep�ab�e �� Lender and sha�� �n��ude a standard mor�gage c�ause.
<br /> Lender sha11 have the righ�t�hold the palicies and renevval�. If Lender requires, Borrovver shal�promp�ly give�o
<br /> Lender alI receip�s of paid premiums and renevval notices. In�he even�of�oss,Barrower sha11 give prompt noti�e
<br /> tfl the insurance carrier and Lender.Lender may mal�e proaf of lass if n��made promp��y by Borrov�rer.
<br /> Unless Len�er and Barrower atherwise agree in writ�ng, �nsurance proGeeds �hall be applied �a restora�ion or
<br /> repair �f�he Property damaged, if, in Lender's sale discre�ian, the res�oration or repair is economica��y feas�ble
<br /> and Lender's securit�r is not �essened. If, in Ler�der's s�le discretitin, the restora�ion or repair zs nat ecfln�mically
<br /> feasi�le ar Lender's securi�y vvau�d be lessened,the insurance pro�eeds shall be app�ie��o the sums secured by th�s
<br /> S ecurit� �ns�rumen�, vvhether or no� �hen due, wi�h any excess p a�d to B�rro�ver. �f B orro�wer aband�ns �he
<br /> Prapert,�r, �r does not a�swer�vvi�hin the number❑f days prescribed�y App�i�ab�e Lavv as set for�h in a not�ce from
<br /> Lender to Borrtiwer that the insurance carrier has affered to se�t�e a claim, then Lender m.ay co�lect the �nsurance
<br /> proceeds. Lender may use the praceeds �o repair �r restore the Proper�r ar to pay sums secured by�hzs Secur�ty
<br /> Ins�rument,vvhe�her or not�then due. The period of�ime for Barrflv�er to ansWer as set far�.h in�he not�ce�vil1 begin
<br /> when the n�tice is gi��n.
<br /> Unless Lender and BorraWer o�h�rwise agree in writing, any applica���n of pr�ceeds��princ�pal shal�not extend
<br /> ar post�pane the due da�� of the payments due under t�e ��ntrac�ar change the amount of the paymen�s. Zf under
<br /> �he sect�on�itled A��e�erat�an; Remed�ies, the Pr�perty is acquired by Len�er, Borravver's right to any znsurance
<br /> pa��c��s and proceeds resu��ing from damage to the Proper�y prior to the ac�uis�tifln sha11 pass �o Lender to �he
<br /> exten��f�he sums secured by�his Security Instrumen�immedia�ely przor�a�he acquisit�an.
<br /> Preservation, Ma�nte�an�� and Pr�te�t�fln af the Property; Borro�ver's Loan App�i�at�n�; LeaSeholds.
<br /> Bflrrower shal�not destray, damage or impair the Proper�y, allow�he Proper�y�a deteriora#e, or c�mmit�nvas�e on
<br /> �he Proper�y.Borrower shall be xn defaul��f any forfeitu.re act�on or proce�ding,vvhether czv��flr criminal,is begun
<br /> �hat in Lender's good faith judgmen� Cou�d result in forfeiture ❑f�he Property or otherw�se ma�erially xmpair �he
<br /> l�en creat�d by this Se�urity �nstrument or Lender's securify ir�terest. �orrovver may cure such a defau�� and
<br /> reinstate, as provided�n section titled Bo�rower's Right tfl Re�nstate, by causing the act�vn or proceed�ng to be
<br /> d�smissed�vi�h a rul�ng that,in Lender's gofld fai�h determination,preclud�s farfeiture of the Borrower's intere��in
<br /> �he Property or other mater�a� impairm�nt of the lien created by �his Secur�ty Instrument or Lender's securi�y
<br /> interest.B�rrower shall also be in defaul�if B�rro,wer,ciur�ng the Ioan applicatian pr�cess,gave materia�l�r false or
<br /> inaccurate �nformation ar statexnents to Lender �or fa�Ied t� prov�de Lender wi�h any ma��r�a� �nfarmat��n} in
<br /> c�nnection vv�th the I�an evidenced by�he �on�ract. �f this Security�nstrument is on a�easeha�d, Borrovver shall
<br /> comply u�ith aII the provisians of the�ease. If Borroyver acquires fee�it1e to the Property,the�easehold and�e fee
<br /> �i�le shal�not merge unless I.ender agrees�o�he merg�r in writ�ng.
<br /> Prfltect�ion vf L�nder's R�ights �.n the Property. If Borr�wer fai�s ta perfQrm �he covenants and agreements
<br /> con�ained in this 5ecurity Ins�rumen�, or�here is a Iegal proceeding�ha�may signif cant�y affec�Lender's r�ghts in
<br /> the Property �such as a proceeding in �ankruptcy, probate, for condemnation or farfei�ure or t� enfarce �aws �r
<br /> regulations}, �hen Len�.er may do and pay for �vhatever is necessary �a pro�ec� �he value �f the Praper�y and
<br /> Lender's r�ghts in�he Property. Lender's a�tions rnay include paying any sums secured by a��en which has pri�rity
<br /> aver this Securi��nstrurnent,appearxng in cour�,paying reasonab�e attarneys'fees and en�ering o�the PrQperty to
<br /> make repairs.A��haugh Lender ma�r tak�act�on under�h�s sec�ion,Lender does not have to do so.
<br /> Any amoun�s disbursed by Lender under this sec�ion shal� become addit�anal deb� af B�rrovver secured by �his
<br /> Security Instrument. Unless Borrotiver and Lender agree �a o�.er �erms of payment, �hese amaunts shall bear
<br /> C�2D4�-2a 1 S CampIiance Systems,Inc.SC54-2F6q-2�15.11.3,1498
<br /> �vnsumer Real Estate-Se��r��y Instrurner�t DL2�36 Page 2 af 5 www,cvmpliancesystems.�om
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