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2� 1 ���952
<br /> Applicable Law. As used �.z� �h�s Secur�ty Ins�rumen�, the �err� "Appl�cable Law" shal� mean aII control�i.ng
<br /> app�icab�e federal, s�ate and lacal s�a�u�es, regu�a��ons, orduaances and admznistratzv� ru�es and arders ��ha�ha��
<br /> �he effec�of�aw}as vv�l�as aIl appl�cable final,non-appea�ab�e jud�cza�op�nzons.
<br /> App�xcat�on af Payments. Unless App��cable Law p�o�ides otherwise, a��paymen�s recexved by Lender shall be
<br /> app��ed: f rs�, �o any p�epaymen��harges du� under the Na�e; s�cand, ta inter�st due; �hird, �o principal du�; and
<br /> �ast,to any�ate charges due under�he Na�e.
<br /> Charges; Liens. B�rrower shal� pay a�� �axes, assessm.ents, charges, fne� and �mpo�i�zons attribu�ab�e t� the
<br /> Prapez�y which may attain pr�ority nver��iis Secur�ty znstrument, and l�asehoid payments or ground rents, x�any.
<br /> �orr�wer sha�l pay thes� �bi�gat�ons on��me and direc�Iy to �he person owed paymen�. At�he request af L��.der,
<br /> Barrflw�r shall pr�mp�Xy furnish ta Lender rec��p�s evidencir�g the payme�.�s.
<br /> Borrov�rer shall promp��y dzscharge any lien v�hz�h has priority over�hzs Securz�y�nstrumen�un�ess Borr�wer: �a}
<br /> agrees �n writing to t�e payment af�he ob��ga��on s�cured by �he lien �.n. a manner ac�ep�able to Lend�r; �b�
<br /> contes�s irz g�od faxth �h� lien by, or defends aga�ixzst enfarcenlent of�he lzen in, legal proceed�ngs wh��h in the
<br /> Lender's opin�on aperate to preven� th� enforcement of�he lien; or �c} secures from the holder of the Ixen an
<br /> agreement sa��sfac�ory�a Lender sub�rd�nating�he �ien tfl this Security�nstrumen�. �f Lender d�term�nes�hat any
<br /> par� of�he Property zs sub�e��to a �zen whYch ma.y atka�n pr�orxty aver this Secur�ty �nstruamen�, Lender may gzve
<br /> Borrower a no���e �dentifying the I��n. Borrower shall sa��sfy the �ien or�ake one or more of�he a��ions set f�rth
<br /> abo�e w��h�n I O days af the�zving of no�zce.
<br /> I-iazard or Property Insura�ce. B�rrov�er sha��ke�p�he improvemen�s now exis�ing or hereafter erec�ed an the
<br /> Property insured again�t l�ss by fre,hazards inc�uded within�he term"extended coverage" and any o�her hazards,
<br /> xnc�uding fl��ds ar flooding, for which Lender requ�es �nsu�anGe. This insurance sha�� be ma�ntained �n. th�
<br /> amaun�s and for the per�ads that Lender requir�s. The insurance carrxer providin���.e�.suranGe shal�be c�i�sen by
<br /> B�rrower subjec� tfl Lender's appro�al which sha�� x�o� be unr�asnna�b�y withhe�d. If Borrower fails ta mainta�n
<br /> ca�erage descr�bed abave, Lender may, a� Lender's optian, ob�ain �o�r�rage �o protect Lender's righ�s �n �he
<br /> Fr�per�y�.accordanc�vvxth sectian tr�led Protection of LenderTs�iights in the Praper�y.
<br /> A�X �nsurance po�zcies and r�newals sha�l be accep�able �o Lender a.nd sha11 inc�ude a s�andard rno�gag� clause.
<br /> Lender sha�l have the r�ght�o hold the palic�es and r�ne�a�s. �f Lender requ�res,Barraw�r shall promp��y g�ve�o
<br /> Lender aI�rece�p�s of paid premiums and renevval not�ces. �n�he e�ren�of�oss, Borrov�er shal�gi�e promp�notice
<br /> �o the insurance carrier and L�nder.Lender may�nake proof of�ass if no�made prompfly by Borrower.
<br /> tTnless Lender and Barrower otherwise agree zn v�-i�ing, �nsuran�e proceeds shal� be applzed t� r�sto�a�ian or
<br /> repair of�he Property damabed, if, in Lender's sole dzscret�on, the restoration or repa�r is econor�rz��a�I� feasible
<br /> and Lend�r's security �� z�o� �essened. If, in Lend�r's sole d�scretion, th� res�oration �r repaxr �s not econom�cal�y
<br /> feasible or Lender's se�urzty would b��essened,�he insuranc�pr�ce�ds shal�be applied�o�a.e sums se�ured by this
<br /> Secur�ty Instrumen�, whe�her or not �hen due, vvxth any excess pa�d to Borrower. If Borr�wer abandans the
<br /> Propez�ty,or d�es not a�swer v�ithin�he num�er of days prescribed by Applicab�e Law as se�far�h zn a nat�ce from
<br /> Lender tfl Barrower th�.t the ua.surance carrzer has offer�d ta set�Ie a c�ain�,�hen Lender may cal�ec��he insurance
<br /> proce�ds. Lender may use �h� proceeds �o repa�r or restore �h� Properfiy or�� pay sums secured by�his Se�urit�
<br /> zns�rum�nt,whe�her or na��h�n due.The per�od af t7me far B�rrower to answer as set forth in�he no�i�e wi1�beg�n
<br /> �vhen the not�ce is given.
<br /> Unless Lender and Borrav�er o�herw�se agree �n wr�t��z�, an�application�f pra�eeds to pr�ncipal sha�l no�e��end
<br /> �r postpane the due da�� of�he payments referred �o �n the sec�ion t�t�ed P�yment of l�rincipa� and In�erest;
<br /> Prepaymen� and Late Charges ar change the amou.r�t flf the payments. �f under�he sec�ion�i�Ied A��e�eration;
<br /> Remedies, th� Proper�y is acqu�red by Lender, Borr�wer's r�gh��o an� �nsurance po�icies and proce�ds resu���.x�.g
<br /> from damage ta�he Prvp�rty pr�or�o the acquis��ion shal�pass�o Lender�o the exten�of�he sums secured by this
<br /> Security�nstrum�nt inlmediate�y priar�a th�acqu�szt�an.
<br /> Preser�at�on, Ma�ntenance and Pr�tection vf th� Property; Borrow�r's Lnan App�ication; Leaseholds.
<br /> Borrower shall nat des�roy, damage or impair th�Proper�y, a�low the Property to deteriora�e, or�om�n�t v�raste on
<br /> �he Propert�y.Borrower sha�I be�n defau�t�f any forfezture action or proceedzng,vvhe�her civi�or crzm�nal,�s begut�.
<br /> that �n Lender's gaod faith judgmen� cou�d resul� �n farf�iture of the Prnpez�y or otherwise materia��y �mpa�r�he
<br /> �i�n created by �his S�cur�ty Instrum�n� or Lender's s�curi�ty interes�. B�rrower may cure such a defaul� and
<br /> reinsta�e, as prn��ded rn section�it�ed Borr�wer's Right to Reins�a�e, by causing the action�r proce�dzng t� be
<br /> dism�ssed wi�h a ru�ing that, in Lender's goo�fa��h de��rm�nation,precludes forfe�tu.re of��.e Borrov�er's int�rest�n
<br /> the Property or ather rna�erzal impa�rment of the lien created by this Secur�ty �nstrume�.t or Lender's security
<br /> �nterest.Borr�wer s�.all a�sa be in defaul��f Borro�ver, durin�the�oan app��cation process,ga�e mater�ally fa�se ar
<br /> �naccura�e informatian or statemen�s t� Lender �or failed �o provide Lender vv��h any ma�er�a� informa�i�n} in
<br /> connec��on w�th the �aan evidenced by the No�e. �f�his Securz�y rnstrument is on a leaseha�d, Borro��r shall
<br /> campiy vWi�h ail�the pravisxons of th�lease. If Borrovver acquir�s f�e�itle to�he Prap�rty,�he leaseho�d and th�fee
<br /> �i�le sha�i not merb�unless Lender agrees t�th�merger�n v�riting.
<br /> Protec�ion of Lender's �ights in the Pr�perty. If B�rrower fai�s to perform the cavenan�s and agreern.emts
<br /> con�a�ned rn�h�s Secur�t�Ins�rumen�, or there �s a�egal proceeding that may szgnif cantly affec�Lender's rights in
<br /> the Proper�y �such as a proceedinb �ta.bankrup�cy, pr�ba�e, f�r c�z�demna��on or forfeiture �r to enforce �aws or
<br /> regu�at�ons�, th�n Lender rr�ay da arzd pay for whate�er is ne�essary t� pro�ec� �he va�ue of�h� Pr�perty and
<br /> Ler�der`s ribhts in�he ProperCy. Lender's act��ns rn.ay includ�payin�an�sums�e�ured by a�ien wh�ch has pr�ority
<br /> o��r�his Security�nstrum�nt, appearing in cnurt,pay�ng reasonable attorneys'fees and enter��.b on�he Praper�y�tn
<br /> make repa�rs.Although Lender may�ake ac���n under�his sectxan,Lender does n�t have to do so.
<br /> C�2D04-24]5 Compi�ance Systems,Znc.8C54-08Cd-2015.1 I.3.1Q98
<br /> Consumer Real Estate�Sec�rity Tnstr�:.ment DL2�3b Page 2 of 6 wvw�.compIiancesystems.com
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