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2� 1 ��2244
<br /> Appli��bi� Lav�v. As used in th�s Secur�ty Instrum�n�, the term "App�icable Lavv" shall mean a�� con�rol�ing
<br /> applicable federa�, s�a�� and local statutes, regula�ions, ardinances and adminis�rative ru��s and arder� ��hat have
<br /> �he effec�af�aw}a�well as all app�icab�e f�na�,nan-appea�ab�e judicial opini�ns.
<br /> �harges; Liens. ��rrower shall pay all �axes, assessmen�s, charges, f nes and �mpasi�i�ns a�tributab�e �o the
<br /> Prop�rty which may a�tain pr�ori�y over�his 5ecur�ty Zns�rurr�ent, and leasehald paymen�s ❑r ground r�n�s, if an�.
<br /> At the reques�af Lender,Borro,t�rer shall pramptly furnish ta Lender rec�zpts evidencing the payrnen�s.
<br /> Borr�vver sha�l promp�ly d�scharge any Iien vvh�ch has priori�r over this Security Ins�rurnent unless Borr��rer: �a}
<br /> agrees �n wr��ing to the paymen� of the ob��gat�an secured by the lien in a manner acceptabie �o JLend�r; �b}
<br /> con�es�s in go�d faith �he �ien by, or defends a�a�nst enforcem�ent �f�he l�en in, Iega1 proceedings v�hich in the
<br /> Lender's opinian aperate �a prevent �he enf�rcem�nt of�he lien; or �c} secuxes fram t�ie ho�der af the �ien an
<br /> agreemen�sa�isfact�ry�o Lender subvrd�.na�ing the Iien�o th�s Security�ns�rument. If Lender determines tha� an�r
<br /> part af the Propert��s subj e�t t� a lien ur�i�h may at�ain priority over �.h�s Security Instru.ment, L�nd�r may give
<br /> B�rrawer a no�ice iden��fying�h� lzen. B�rrotiver sha11 satisfy the Iien�r take one or rn.are of�he actions se�forth
<br /> above vvi�hzn ��da�s af�he g�ving af no�t�c�.
<br /> Hazard or Prop ert�Insurance. B�rrovver sha��keep �h� impr�vemen�s n�w exis�ing �r hereafter erec�ed on�he
<br /> Property insured against�flss by fire,hazaxds inclu�ed within�he term"ext�nded c�verage" an�.any other ha2ards,
<br /> �ncluding f�oods flr fl�o�ing, for which Lender requires insu.rance. This �nsurance shall be mai�.tained in �h�
<br /> amoun�s and far the periods that Len�er requires. The insuran�e carri�r pr�vi�ing�he insuxance shall b�chosen by
<br /> Borrower su�j ec�t tQ Lender's appr�val whi�h shall not be u.nreasonabl�r�rithhe�d. If Borro�ver fails �o ma�ntain
<br /> caverage described above, Lender may, a� Lender's option, ob�ain coverage ta prv�ect Lender's rights in the
<br /> Property�n acc�rdance wi�h section t��led Protecti�n�f Lender's Rights in the Prop�rty.
<br /> 1�.�1 insurance polic�es and renetivals sha�I be accep�al�Ie ta L�nder and sha�I �nclude a standard m�r�gage clause.
<br /> Lender sha��have the right to hold rhe po�ic�es and renewals. �f Lender requires, Borrovver shall pramptly give�o
<br /> Lender all rece�pts of pa�d premit�ms and renewa�natiCes. In�he event af�ass, Borrn�vver shall give prompt notice
<br /> to the insurance ca.rrzer and Lender.Lender may make�r�of af loss if no�rnade promptly by Borra�ver.
<br /> Unless Lender and B�rrovver otherwise agree in writing, insurance proceeds shail be applied �o restora�ion ar
<br /> repa�r of the Property damaged, if, in Lende�'s sfll� dis�re�ti�n, �he restora�zon flr repair is econamica��y feasib�e
<br /> and Lender's secur�ty is na� Iessene�. If, in Lender�s sole discretion, the restora�ion or repa�r�s no� ec�onomica�ly
<br /> feasib�e or Lender's se�urity wau�d b�Iessened,�he insurance proceeds shall be applied to�he sums se�t�red by�his
<br /> Security Instrument, �rhether or n�t ther� du�, �ri�th any �'XC�55 paid to Bnrrflwer. If B�rrovver aband�ns the
<br /> Proper�y, or does no�ans,wer vvi�hin the number of days prescribed by Applicable Law as set forth in a notice from
<br /> Lender to Borrovv�r that the �n�urance carrier�ias offered to se�tl� a claim, �hen Lender may cal�ect th�insurance
<br /> proceeds. Lender may use �he proceeds ta repa�r or res�ore �he Property or to pay sums secured�y this 5ecurity
<br /> �nstrumen�,u�he�her ar no��hen due.The period of�im�far Borro�ver�o a�swer as se�forth�n the na�ice w���beg�n
<br /> when the nfl�ice is given.
<br /> Un�ess Lender and BorroWer otherwise agree in vSrri�ing, any app�ica�io�of prviceeds to pr�ncipal shall n�t extend
<br /> �r postpane the due da�e of�he paymen�s �.ue under the �ontract or �hange�he amount of the payments. If under
<br /> �h� section ti���d Ac�el.eration; Remedies, �he Property is acquired by Lender,Borrower's r�ght to any insurance
<br /> p��icies and proceeds resu�ting from damage �o the Property prior to �he acquisi�ion sha�� pass �o Lende� to �he
<br /> ex�en�of the sums secured by�his Security�r�struxner�t irnmedia�ely pri�r�o�he acquisition.
<br /> Pr�ser�ati.vn, Maintenan�e and Prfltectitin of the Prnperty; Borrow�r's Loan Appl.�cation; L�aseholds.
<br /> Borrawer shall n��destroy, damage or impair�he Property, al�ovv the Prope�-�y to de�eriorate, �r commx��vas�e on
<br /> �he Property. �arrawer sha11 be in default if any forfeiture ac��on ar proceeding,vvhether civil or crimina.T, is begun
<br /> �ha�in L�nder`s good faith�ud�men� cauld result 1� forfe��tttre of�he Pr�perty nr oth�rwise materia��y impair the
<br /> lien created by thzs 5ecur�ty �nstrument ar Lender's �ecurity in�erest. BQrrawer may cure such a defaul� and
<br /> re�ns�ate, as provided in sectzan t�t�ed B�rro,v�v�r's Right to l�ei�state, by causing the a��ion or prQc��ding to be
<br /> d�smissed with.a ru�ing�hat, �r�Lender's good faith detennina�ian,precludes forfeiture flf the BorrQv�rer's�n�erest in
<br /> th� Fraperty or other material �mpairmen� �f�he �ien crea�ed by th�s S�cur��r Ins�rumen� or Lender's security
<br /> �nterest.B�rro�ver shall a�sa be in defau�t zf Borrower,dur�ng the Ioan applica�ion pracess,gave mat�rially false ar
<br /> inaccura�� �nformation or statem,ents �o Lend�r �or fa�led �o provide Lender vvith any material inf�rmatzan� in
<br /> cnnnec�ion wi�h the loan ev�denced by �he Con�ract. �f th�s S�curity�ns�runzent is fln a Ieaseha�d, Borrvvver sha��
<br /> comply wi.th aIT the provisions of�he lease. �f Borrou�er acquires fe�title�o the Property,the Ieaseho�d and�h�fee
<br /> �itle sha��n��merge un�ess Lender agrees�o�e merger in writing.
<br /> Protect�on of Lender's R�ghts �n the Pgop�rty. �f B�rravSrer fails to perform the c�venan�s ar�d agreements
<br /> conta�ned�n th�s Securzty Instru.ment, or�here is a Iegal pr�ceed�ng that may sign�f cantly affect Lender's righ�s in
<br /> �h� Property �such as a pr�ceeding �n bankruptcy, probate, for con�emnat�an or farfe�ture or ta enforce �avvs Qr
<br /> regu�atians�, �hen Len�ier may do and pay far vvhatever is necessary �o pr�tec� �he value �f the Praperty and
<br /> Lender's rights in the Property. Lender's a��ions may include paying any sums secured by a lien which has pr�ority
<br /> over this 5ecurity Instru.ment, appear�ng�c�ur�,paying reasanab�e attorneys'fees and en�ering on�i.e F�roperty ta
<br /> mal�e repairs.A�though Lender may�a1��act�on under this sec�ion,Lender daes n�t have to da so.
<br /> Any amoun�s d�sbursed by Lender under �his sectian sha�� bec�me addi��ona� debt of Barrower secu.r�d by this
<br /> Security �ns�rument. Unless Borrawer and Lender agree t� o�her terms of paymen�, these arnoun�s sha�� bear
<br /> interest fi om th� da�e of��sburs�ment at �h� same rate assessed on advan�es under �he �ontract and sha�� be
<br /> payable,with inter�st,uporz notice fr�m Lender��Borra,t7ver requ�strng payment.
<br /> C ZO�4-2Q I$CDI31p�I�CE S�StQFriS,Inc.8CS4-0947-��I S.1 I.3.1�98
<br /> Cansumer ReaI Estate-Sec�rity instfument DL2�36 Page 2 of 5 www,co�npliancesystems.cQm
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