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2� 1 ����47
<br /> Payment of Princ�pal and In�erest; �ther Charges. Borro�er shall promp�ly pay wh�n due th�pr�ncipal of and
<br /> ��terest on the deb�owed under�he Contrac�and la�e charbes or any ather fe�s and charges due under�he Cfln�ract.
<br /> App�ica�le Law. As used in �his Secur��ty Instrument, �he term "Applicable Law" sha�� mean all con�rolling
<br /> applicable federal, �tate and lflcal statu�es, re�uXatxons, ardinances and admin�strati�e ru�es and orders �tha�ha�e
<br /> the effect of Iarn��as wel�as alI appl�cable�nal,non�-appeaiabl��udxc�a�op�n�ons.
<br /> Charges; Liens. B�rrower shal� pay a�l taxes, assessmen�s, charges, fnes and impas�t�ons attributabie to th�
<br /> Property which may a��a�n pr��rxty �ver�his Security �nstrumen�, and leasehoid pa�men�s or�raund ren�s, if any.
<br /> A��he request af Lender,Borrower shall prompt�y furnish ta Lender receip�s evzdencing the paymen�s.
<br /> Borr�wer shall promptl�discharge any lien which has prxority over th�s Secur��ty�nstrument uniess Borrower: (a}
<br /> a�rees in writin� t� the paymen� of�he obliba�tion secured by the lien in a manner acceptab�e to Ler�der; �b�
<br /> cflntests in good fai�h �he lien by, or defends against enfarcement of th� �ien �n, �egal praceedinbs �nrhich zn the
<br /> Lender's opin�on ��aerate to pre�ent the enforcement of�he ��en; �r �c} secures fr�m the ha�der af the lien an
<br /> a�reement sa��sfactory�a Lender subordina�inb the lien t�th�s Security Instrument. �f Lender de�ermines�hat an�
<br /> par� of the Prapert� is subject t� a Iien vvhich may at�azn priority over�h�s Secur�ty Znstrumen�, L�nder may bi�e
<br /> Borrav�er a na�ice �dentify�nb the ��en. Borrower sha�� sa�Ysfy�he lien or take one or more of the ac���ns se� for�h
<br /> abo�e within �Q days of the g��ing of no�xce.
<br /> Hazard ar �ropert� Insura�ce. B�rrower shal�keep�he zn�pro�emen�s naw ex�sting or hereafter er�ct�d on th.e
<br /> Prap�rty�nsured a�axns�Iass by f r�, hazards inciuded within the�erm "ex�ended c�verage" and any o�her hazards,
<br /> inc�udin� flaods �r f1��d�nb, for wh�ch Lender requires insurance. This insurance shall be ma�ntained xn �he
<br /> amounts and for the peri�ds tha�Lender requ�res. The ins�rance�arr�er providing the�nsuran�e sha�l be chas�n by
<br /> B�rr�wer subject to Lender's approva� which shal� na� be unreasonably wi�hhe�d. If Borrov�er fa��s �o main�tain
<br /> coverage descr�bed a�o�e, Lender may, at Lender's op�ian, ob�ain cnv�rage to prat�Ct Lex�der's righ�s �n the
<br /> P�roperty in accardance vvi�h sec�ion titied Protee�ivn af Lenc�er's R�ghts�n the Property.
<br /> Al� insurance policies and renevvals sha�l be acceptable �o Lend�r and shai� �nclude a standard mor�ga�e clause.
<br /> Lender shall ha�e �h�r��h�to�a�d�h� po�icies and renev�ais. If Lender requires, Borrower shall promp�ly�i�e�o
<br /> Lender a�I rece�pts of paid premiu�ns and renewal not�ces. In the e�ent of I�ss, Sorra�ver shal� gi�e pr�mpt notice
<br /> �o�he insurance carr;er and Lender. Lender may make pr�of�f�oss if nat made pramptly b�Barrower.
<br /> Un 1 ess Lender and B orrower a�herwise agree �n wr�tin�, insuranc� proceeds shall be app�ied �a restora�ian or
<br /> repair of the Properry damaged, if, in Lender's soie d�scretian, the res�ara�ion or repair is ecnn�micaliy feasible
<br /> and Lender's securit� is not lessened. If, in Lender's s�le dis�retXon, the restoratian or repair is not economicaX�y
<br /> feas�ble ar Lender's security would be�essened,the insurance proceeds shall be app��ed�a�he sums secured by�his
<br /> Security �nstrument, whether or no� then due, with an� excess paid �a Borrovver. �f Borr�wer a�andons �he
<br /> Praperty, �r does na�ansv�er v�ithxn th�number af days prescribed by App�icab�e Law as set for�h in a no�ice fram
<br /> Lender ta Borrower�hat the insurance carrier has offered to set��� a�1aim, �hen Lender may collec��he insurance
<br /> �roceeds. Lender may use the praceeds �o repa�r �r restor� �he Prope�-�y or�o pay sums se�ured by this Security
<br /> �ns�rument, whether�r no��hen due.Th�periad of t�me far Barrower�o answer as set for�h in�he not�ce will begin
<br /> when�he notxce is�iven.
<br /> Unless Lender and Barrower�therwise agre� in writinb, �.ny applicatinn�f proceeds ta principal sha�� no�extend
<br /> or pos�pane�he due date of the payments due und�r the ��ntract or chan�e�he amount of�he payments. �f under
<br /> �he secti�n ti�ied Ac�eleration; Remedie�, the Proper�y is acquired�y Lender, Borrawer's righ��a any �nsurance
<br /> pal�cies and praceeds resu�trna from damabe �a �he Property prior�o �he acquisition shal� pass to Lender to the
<br /> extent�f the sums secured b�th�s Security�ns�rumen�immediately prior ta�he acqu�s����n.
<br /> Preser►va��an, Mair��enan�e and Protection af �he Proper�y; Barrower's Laan Appx�ca�ion; Leaseho�ds.
<br /> Borrower shall na� destroy, dama�e or�mpa�r�he�roper�y, alXaw the Property�o de�eri�ra�e, or commi�v�aste an
<br /> �he Properry. Borro�Ter shai�b�zn defau���f any forfe�fiure actian or proceeding,whether c�v���r criminal, �s begun
<br /> tha� �n L�nder's boad faith judgment cou�d result in forf�itur� af the Propert� or o�herwise materialiy im�air�he
<br /> �ie�n crea�ed by this Securit� Instrumen� ar Lender's security in�eres�. Borravv�er may cure such a defau�� and
<br /> reinstate, as provided in section�i��ed Borrawer's Right to Reinstate, b� caus�nb the actian or pr�ceeding�o be
<br /> dismissed with a ruli7g that, in Lender's gaad fa��h determinatxan,precludes forfeitur�of the Borrower's in�erest�n
<br /> �he Pr�per�y ar �th�r mater�al impairment af the l�en created by �his Securi�y Ins�rument ar Lende�'s security
<br /> �nterest. Borrower sha�X also be �n defaul�zf Borr�vver, cluring�he �aan applrcat��n pracess,gave materially false ar
<br /> �naccurate informatian or sta�emen�s to Lender �or failed ta pra��de Lender w�th any materia� infarma�ian} in
<br /> connec��on vv��h �he �oan e��denced by�he �ontrac�. �f thrs Secur�ty �nstrument is on a�easehold, Barrov�er sha�l
<br /> camply wi�h a�I�h��ra�is�ans af�he �eas�. �f B�rrower acquires fee�i�1e to�he Property,the leaseh�Id and�he fee
<br /> �i��e shall no�merge un�ess Lender a�rees ta�he m�.er�er in wr�tinb.
<br /> Pratec�ion af L�nd�r's Rights �n �he Property. If B�rr�wer fa�is to perfarm �the covenan�s and a�reements
<br /> c�n�ained in�his Security �nstrumen�, or�here is a Iegai prflceed�nb�hat may si�nifican��y affec�Lender's ribhts in
<br /> the Property �such as a proceedxng in �ankrup�cy, probate, far condemnat�an or forfe��ure or�o enforce Iaws or
<br /> re�u�a�ions}, then Lender �may do and pay f�r whatever �s necessary �o protect the �alue of the Pr�opert}� and
<br /> Lender's righ�s �n the Pr�per�y. Lend�r's act�on�may inc�ude paying any sums secured by a�zen vvhich has pr�arity
<br /> nWer�his Security�n�trument, ap�earinb in court, paying reasonab�e at�orneys'fees and entering an�he�'ropex�y�o
<br /> malce repa�rs.A�thou�h Lender may take ac��fln under this sectxon,Lender does nat have�o da sa.
<br /> Any amaunts disbursed by Lender under �his sectifln sha�� become additional debt af Borr�wer secured by this
<br /> Security �ns�rumen�. Un�ess Bnrr�wer and Lender agree ta other �erms �f paymerit, �hese amounts sha�1 �ear
<br /> �2�04-20I 5 Ca�nplia�ce 5ystems,Inc.8C54-8880-2015.l 1.3.1098
<br /> Co��sus�er Rea[Estate-Security Ir�t�zment DL2Q3b Pa�e 2 of 5 www,compliancesystems.cam
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