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2� 1 ��2��9
<br /> Payment of Pr�nc�pa�and Inter�s�; �ther�harge5.B�rr�u�er shall pr�mptly pay vvhen due�he pr�.ncipa�af and
<br /> interest on�he debt flwed under the�on�rac�and Ia�e charges o r any ather fees and charges due under the Contract.
<br /> Appli�ab�e Law. A.5 lIS�C� in this 5e�uri�y Instrument, �he �ter� "Applicable Lav�" sha�� mean alI �on�.roll�ng
<br /> applicable federal, state and 1oca1 s�a�u�es, regula�ions, ordinances and adminis�rative rules and orders �tha�have
<br /> the effect af law�as�vell as a�l applicab�e f na1,non-ap�aealahl�:judicial opinians.
<br /> Charg�s; I.►iens. B4rrower shall pay aI� taxes, assessments, chaxges, f nes and impas���ans at�ribu�a.l��e to the
<br /> Property which may a�tazn pr��rz�y ov�r�his 5ecur��ty Ins�rum�:nt, and �easehold payments or grou.nd ren�s, �f any.
<br /> At the request of Lend�r,B�rroWer shall prompt�y furnish�o L�nd�r receip�s evidencing�he payments.
<br /> Borrov�rer sha��promp�ly discharge any lien which has priori�r over this Security�ns�rumenfi un�ess BorroWer: �a}
<br /> agrees �n writing to the payrnent �f the �bligati�n secured l�y �he lien in a manner accep�abl� to Lender; �b}
<br /> contests in goad faith the lien by, or defends agains� enfflrcernent of th� �ien in, legal pro��edings which in the
<br /> Lender's opinian �perate to preven� the �nfarcenaen� af the :�ien; or �c} secures from the holder of�1ze �ien an
<br /> agreemen�sa�isfactary to Lender subardinat�ng�he I�en�o this Se�uri�y Instru.ment. If Lender determ�nes that any
<br /> par� of the Property is sub�ec��fl a Iien vvhich may atta�n prio�i� aver �his Security Ins�rumen�, Lender may g�ve
<br /> Barr��vver a not�ce ident�fying the lien. Borro�wer shal� satisfy �he Iien�r ta�e one or more af the ac�ions se�farth
<br /> above�vithin I 4 days Qf�he g�v�ng nf n��ice.
<br /> Hazard ar Prvperty In�uran�e, �o��ro�rer shal�keep �he im��rovemen�s no�w existing ar hereafter erec�ed on�he
<br /> Pr�perty insured aga�nst Ioss by fire,hazards xncluded wi�h�n tlze ti�rm"extended coverage" and any o�her hazards,
<br /> inc�uding #�oods or flood�ng, f�r tivhich Lender requires ins��xrance. Th�s insurance shall be maintained in �he
<br /> amoun�s and for the periods that Lender requires. The insuranc e carrier pra�iding the insurance shall be cha�en by
<br /> Borrawer sub�ect to Lend�r's approval �wh�ch shal� no� be unreasanably withheld. If Borrower fa�ls ta maintain
<br /> Coverage described above, Lender may, at Lender's �pti�n, ob�ain c�verage �o protect Lender's ri�hts in the
<br /> Pr�per�y in accordance u�ith sectior��i�l�d Protection of Lend�nr's Rights�n�he Proper�y.
<br /> A�� insurance pa�icies and ren�wa�s shall be acceptable �o Le�der and shall �nc�ude a standard mor�gage clause.
<br /> Lender sha��have the right to ho�d�he pnlicies and renewals, ]:f L�nder requires,�3orrovver sha�l prornp�l�r give�a
<br /> Lender a�I rec�ipts of paid premiums and renetival r�fltices. In the event of 1ass, ��rrou�er shall give prompt no�ice
<br /> t�the�nsurance carrier and Lender.Lender may make pr�af af'�oss if no�made promptly by Borrovver.
<br /> Un�ess Lender and �orrotiver o�herwise agree in wri��ng, ins��rance pro�eeds shall be appl'red �o rest�oration or
<br /> repa�r af�he Praper�y damaged, if, in Lender's sa�e discre�i�r�, the restoration or repair is econom�ca��y feas�ble
<br /> and L�nder's secur�ty is n�t �essened. If, in Lender's sa�e disc��e��on, �he restaration or repair�s not eca�nomi�all�r
<br /> feasil�Ie or Lender's securi�y would be�essened,the insurance�Froc�eds shal�be app��ed to�he sums secured by�his
<br /> 5e�ur�ty �nstrumen�, �vhether or n�t �hen due, vvith any e�cess paid to Borrov�rer. If Borrovver aba�dons �he
<br /> Proper�y, or da�s not ansvver wi�hin�he x�u�ber of days pr�scribed by Applicab�e Law as se�for�h in a n�t�ce from
<br /> Lender�o Borr�wer tha�the�nsurance carrier has affered to sti��tle a claim, �hen Lender rnay cal�ect the insurance
<br /> proceeds. Lender may use �he pro�eeds to repair or res�ore th�e Proper�y�r to pay sums secu�-ed by�his Security
<br /> �nstrum.ent,whe�her ar not then due. The period of��me for Bo�:�ower�o answer as set farth�n the�.atxce-�ii�begin
<br /> When the not�ce is giv�n.
<br /> Un�ess Lender and�3orrower o�herwise a�r�e �n writ�ng, any app��catian of proceeds�a pr�n�ipal sha��r�o�extend
<br /> or po��pone�he due dat�of the payrnents due und�r�he �an�r��.ct ar change the amQunt�f the paymen�5. �f under
<br /> the sec�ion t�t�ed Ac�e�erat�on; Remed�es, the Property is ac�uired by Lender, Barrawer's right to any�n�urance
<br /> policies and pr�ceeds resul�ing fram damage �o the Prap��-ty �riar �o the acquis��ion shall pass to Len�der to the
<br /> ex�ent of the sums secured�y this 5ecurity�ns�rurnent immedia�ely pr�or to the acqu�siti�n.
<br /> Pr�Ser�a�ion, �Via�ntenance and Prot�c��on of the Prope��ty; B�rrawer's Laan .A�.pplica�ian; L�aseh�ids.
<br /> Borro�ver shall na�destray, damage or impair the Property, a�l�w the Proper�y to deteriorate, or comm�l:�vas�e on
<br /> the Fraper�y. Borrawer sha�I be�n default if any f�rfe��e actic#n or praceed�ng,vvhether ci�i1 or crimina�,is begun
<br /> that in Lender's goad faith judgm.en� cau�d resul� in forfeiture of th� Pr�per�y or otherwise ma�erial�y impa�r the
<br /> �ien created by �his Security Instrumen� or Lender's secu.rity� interest. Borro�ver may cure such a default and
<br /> reinsta��, as provided in sec�ion�itled Borrower's Righ�to R��n��at�, by�aus�ng�he ac�ian ar proceeding to be
<br /> dismissed�ri�h a ru�ing that, in Lender's go�d fa�th determ�na�tic�n,prec�udes forfeiture of�he B orrovver's interest�n
<br /> �he Proper�y or o�her ma�erial �mpairment of the lien createc� by th�s Se�urity �nstrument or .Lender'� securi�y
<br /> interes�.BorroWer shaXl a1s�be in defaul�if Borr�tiver,during t��e Ioan applzcatifln process,ga�re ma�er�a���r false or
<br /> inaccurate �nforma�ion or statemen�s t� Lender �ar failed �Q provide Lender v�ith any material infornlat�on} in
<br /> connectian�vith�he �oan evidenced by�he ��ntract, If�his Se��urity�nstrumen��s on a �easehold, Borrower sha��
<br /> comply�t7vith al��he proviszons of the lease. �f Borro�ver acquir�°s fee tit�e to the Property,�he�easehold a�ad the fee
<br /> ��tle shall nat merge unless Lender agrees to the merger in wri�ia:�g.
<br /> Protecti�n of Lend�r's R�ght� in the Property, If BarroW��r fai�s to perfarm �he cflvenants and agreements
<br /> con�a�ned in�his Se�uri�y�nstrumen�, or there is a le�al pro�ee�ling fhat may signifiean�ly affec�Lender'�rights�n
<br /> the Proper�y �such as a pr�ceeding in bankruptcy, pro�at�, f�7� c�ndemna�i�n or forfeiture or �o enf�rce laws �r
<br /> regu�atians�, then Lender ma�r do and pay for �vvha�ever is n��cessar� �� pra�ect the value of the Pro,�erty and
<br /> Lender's rights in the Property. Lender's actions ma�inc�ude p��ying ax�y sums secured by a�ien�vvhich has priori�y
<br /> aver�his 5ecurity�nstrument, appea.r�ng zn cour�,pay�ng reasor.�a���attorneys'fees a�d en�er�ng�n the P�roper�y tfl
<br /> mal�e repairs.Althaugh Lender may take action under�his sect���n,L,ender does no�have�a do s�.
<br /> Any amounts disbursed by Lender under �his sectian shalX be��an�e additional deb� of Borrovver s�cur�d by �h�s
<br /> Security �ns�rument. Unless BarraWer an� Lender agree �a ca�her terxns of payment, �hese amaunts �hal� bear
<br /> C�2�04-241 S Comp�iance Systems,Inc.8C54-B9B�-2415.11.3.1 a98
<br /> Cansumer ReaI Estate-Security Instrument DL2�36 Pa�e 2�f 5 www.camplia�cesystems.com
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