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2� 1 �� 1724
<br /> Paymen�of Principal and Interest; Dther�harges,�orrow�r sha1�promp���pay,when due�he principa�of and
<br /> rnteres�o�the deb�owed under�he�on�ra�t and late charges�r any other fees and charges due under the Con�ract.
<br /> Appli�ab�e Law. As used in this S�curi�y Yns�rument, �he �erm "Applicable Law" s�.a�� mean al1 c�ntrolling
<br /> app�ica�ble fed�ral, s�ate and �ocal sta.�u�es, regu�ations, ord�nances and admi�istrative ru�es �nd arders ��ha�have
<br /> �he effect of law�as well as alI applicable fina�,non-appealable�ud�c�a�opin�ons.
<br /> Ch�rges; Liens. Borrow�r sha�l pay aIl �axes, assessments, charg�s, fines and impasitians at�ribu�ab�e to the
<br /> Property tivhich may attain priority ov�r�hzs Security Instrument, and leaseho�d paymen�s or ground rents, �f any.
<br /> At the request flf Lender,Barrovver shall promptly furn�sh ta Lender r�ceip�s evidencing the�a�rm.ents.
<br /> Borrovver sha��promp��y discharge any Iien v�rhich has priori�y over�his 5ecurity Instrument un�ess Borro�vver: �a�
<br /> agrees �n wri�ing �o �he payment of�he �bl�ga��on secur�d by the Iien in a manner accep�ab�e �o Lender; (b}
<br /> con�ests �n good faith the �ien by, �r d�fends against enfarcemen� of�he l�en �n, �egal proc�edings which zn the
<br /> Lender's opinion apera�e �o prevent th� enf�rcemen� af the ��en; or ��} s�cures frorn �.he 1za�der of the ��en an
<br /> agre�men�sa�xsfac�ory to Ler�der subordinating the �ien ta th�s SecU.ri�y�nstrumen�. �f Lender de��rmxnes�ha�any
<br /> par� of the Property zs sub,��ct t� a lie�which may attain priority over this Securi�y Ins�rum�nt, Lender may give
<br /> Borrower a no�ice iden�ifyxng the �ien. Barrovver shall sa�isfy tihe �ien or take one or more of the actions s��f�r�h
<br /> above vvithin 1 n days of the g�v�ng af r�ot�ce.
<br /> Hazard or Praperty Insurance. Borrotiver shali keep �he improvemen�s no,t7v existing or he�eafter �rec�ed�n the
<br /> P�oper�y i�asured agains��oss by f re,hazards included within�he�erm"extended coverage" and an�o�her hazards,
<br /> inc�uding f�oads �r f�oading, f�r which Lender requires insuran�e. This insurance shaX� be mair��ained xn �he
<br /> amounts and far the peri�ds�ha�Lender requires. The insuranc�carrier providing the insurance sha�l�be ch�se�by
<br /> B�rrovver sub�j ect to Lender's approval which shall nat be unreasonably wi��he�d. If Borrovver fazls �o main�ain
<br /> coverage descr�bed above, Lender may, at Lender's op��on, obtain cflverage tfl pro��c� Lender's rights �n �he
<br /> Pr�per�y in accordance vvith section tit�ed 1'rotec�r�n of Lender's Rights�n the Prope��y.
<br /> A�l insurance po�icies and renevvals sha�� be accep�able �o Lender and shall include a s�andard mor�gage c�ause.
<br /> Lender sha�I hav�the right��ho�d the p�Iicies a�d r�newals. If Lender re�ui�es, Borrower s�al�promp�ly g��e to
<br /> Lender a11 receipts of paid prem�ums �nd rene�val notices. �n the event of loss, Barrower shal�g�ve prompt no�ice
<br /> �a the�nsurance carrier and Lender.Lender may make p�oof af Ioss if nat made prampt�y by B orrovsrer.
<br /> Un�ess Lender and Borrativer otherw�se agree in wr�t�ng, insurance prticeeds sha�l be app�ied �a restaratian or
<br /> repair of th� Property damaged, if, in Lender's sole d�seretion, �he rest�rati�n or repa�r is �canorr��cally feasibl�
<br /> and Lender's securit�r is no� Iessened. If, �n Lender's s�Ie discre��on, the res�oration �r repair xs n�� ecano�nica���
<br /> feasib�e or Lender's security vtrould�be Iessened,�he�nsuranc�proce�ds shall be app�zed�o the sums secured by th�s
<br /> Securi�y Ins�rument, tivhe�her or not xhen du�, �v�rith any exc�ss pazd �o �orrawer. If Borrower abandons the
<br /> Praperty, or does not ansvver w��hin th�number�f�ays prescr�bed�y Applicable Lav�as se��or�h�n a no�ice fr�m
<br /> Lender t� Borrawer�ha�the insuran�e carrier has offered�a sett�e a claim, then Lender may collect the xn�urance
<br /> proceeds. Lender may use the proceeds �o repair or rest�re �he Pr�perty or t� pay sums secured by th�s Security
<br /> Instrumen�,vvhe�h�r or not�hen due. The periad�f t�me fflr Bor�-�wer to answer as set fQrth�n the no�i�e�v���begin
<br /> When�he not�ce is given.
<br /> Umless Lender and B�rrotiver o�.herwise agree in�rriting, any application of proceeds to pr�ncipal shall not ex�end
<br /> or pos�pone�he due da�e flf�he payments due un�er the Contrac��r change the arnount af the paymen�s. If under
<br /> th� s�c�ion t��Ied A��elerat��n; Remedies, �he Property is acqu�red by Lender, BorroWer'�right�� any insurance
<br /> po��cies and proceeds resui�ing from damage to �he Property prior ta �he acquisition shal� �ass tio Lender to �he
<br /> exten��f the sums secured by�h�s Securi�y�nstrument immediate�y pr��r ta the acquisition.
<br /> Preservativn, Maintenance and Prot�c�ion of the Proper�y; �flrrower�s Loan App���a�i�n; Leaseh�Ids.
<br /> BorraWer sha1l not des�r�y, damage or impair th�Properry, a�lovv�he Proper��o de�eriora�e, ar cammit waste on
<br /> �he Praperty. B�rrower shall be zn defa���if any f�rfei�ure action flr proceed�ng,,t�vhe�her c�vzl Qr crim�.nal,is begun
<br /> �hat in Lender's gaod fa�th judgment ��uld resul� in forfeiture �f�he Property or otherw�se ma�erxally impazr�he
<br /> Iien created by this Security Instrument or Lender's secur��y int�rest. Barrov�er may �ure such a defaul� and
<br /> r��nstate, as prav�ded in section titi�d Borr��ver's R�ght to R�ins�ate, by causing the ac�ion �r pr�ceeding�o be
<br /> dzsmissed�t7vi�h a ruli.n.g that,in Lender's ga�d faith de�errnination,precludes forfei�ur�of�he Borr��rer's�n��rest in
<br /> �he Property or other ma�erial zmpairment of�he lien crea�ed by �his Secur�ty Instrument or Ler�deris secur�ty
<br /> interest.Borrower sha�l a�so be in defau���f Borrower,during the Iaan applica�ion process,gave ma�erially fa�s�e or
<br /> inaccurate inforrnat�on or sta.t�men�s t� Ler��er �ar fa�led �o pro�ide Lender wi.th any materiai �r�forma�i�n} i.n
<br /> cannection�r�th the laan e���enced b� the Cantract. �f�his Security Instrumer�t xs on a leas�ho�d, Bflrro�rer s�a�l
<br /> comply�vi�h al�the prov�sions of t.�ie lease. If Borro�ver acquire�fee title��th�Proper�y,the Ieasehold and the fee
<br /> t�t�e sha��not merge unless Lender agrees�o�he merger i�wr�ting.
<br /> Pr�t�ct�on of Lend�r'S Rights �n th� Proper�y. If B�rrower fails to perform the cQvenan�s and agreemen�s
<br /> con�ained zn�his Security�mstrumen�, or th�re is a�egal proceeding that may signif cant�y affect Lender's rights in
<br /> �he Pr�perty �such as a proceeding in barakruptc�, prflbate, f�r cand�mnatxon ar forfezture o� to enforce �aws �r
<br /> regulat�ons}, th.en Lender may do and pay for whatever is necessary to pr�tec� �he value ❑f th� Proper�y �nd
<br /> Lender's r�ghts in the Prap�rty. Lender's ac�ions may�nc�ude pa��ng any sums secured b�a 1�en v�rhi�h has pri�rity
<br /> ��er this Security�ns�rument, appearing in court,pa�ing reasonab�e attorneys'fees and en��ring an the Property�o
<br /> make repairs.Although Lender may take action under this sec��on,Ler�der does not have ta dfl so.
<br /> Any amoun�s d�sbursed b� Lender under �h�s sec�ia�. sha�1 becorne addi�iona� deb� of Borrower secured by �his
<br /> Secu�-ity �nstrument. Un�ess B�rro�rer and Lender agree to ather terms af�ayment, �hese amaunts sha�l bear
<br /> Q 2�44-2D I 5 CvmpIiance Systems,Inc,8�54-4563-2�I 5.1 I,3.1Q98
<br /> Consumer Real Estate-Security Instrument DL2�3G Page�af 5 www.�flrr�pliancesystems.com
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