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2� 1 ��2373
<br /> Payment of Principa�and Interest; �ther Ch�rges.BorroV�er shall prflmptly pay when due�he pr�ncipal of and
<br /> in�er�st on the de���wed under�he�ontrac�and�ate charges c�r any other fees and charges due under the�antrac�.
<br /> Appli�able Law, As used in th�s Securi�y In�trumen�, the term. °'App�icable Law" shall m�an ai� {contrai�ing
<br /> appl�cable federa�, s�ate and local sta�u�es, regu�ations, ordin��nces and adminis�ra��ve ru�es an� orders �that have
<br /> �he effec�of law�as�ve1l as all app�icable fina�,r�on-appealabl��judicial�pznions.
<br /> Charges; Liens. B�rrower s1�a11 pay a�l taxes, assessmen�s., charges, f�nes and �mposi�ians at�r�bu�ble ta �he
<br /> Property which may attain pri�ri�r aver�his 5ecurity Instrum�nt, ar�d leasehold payments or�ound rents, �f any.
<br /> A�the request af Lender,Borrawer shal�pramp�Iy furnish to L.ender receipts evidencing the paymen�s.
<br /> Borrawer shall prompt�y d�sch�.rge any�ie�.v�hi�h has priarity over th�s Security�ns�rument unless Borrov�rer: (a}
<br /> agrees in writing to the paymen�. af the ob�iga�ion secured by �he Iien �n a manner accep�able to Ilender; �b)
<br /> con�ests in good faith the �ien by, or defends a�a�nst enf�rc�;me�.t of the 1�en �n, legal praceedings v�rh�ch in �he
<br /> Lender's opz�ion opera�e ta prev�nt the enforcemen� of�he lien; �r �c� secures from �he ha�der nf�:he �ien an
<br /> agr�ement sa�isfa�tory�❑Lender subordina�ing�he �ien�o �h�,� 5�cur�ty�ns�rumen�. If Lender determ�nes tha� any
<br /> part Qf the Property is sub�ec��o a Iien vvh�ch may a�tain pr�c�rity o�er this Security�nstrumen-�, Lender may give
<br /> Borrovver a notice iden�ifying�he Iien. BarrQwer shall sa�isfy�he lien or take ane or more af the actions set forth
<br /> ab�ve vvxthin 1�days of the g�ti�ing❑f natice.
<br /> Ha2ard or Prop erty Insuran��. Borr�vtrer shall keep the improvem�n�s now exis�ing ar hereafter ererted on the
<br /> Property insured agaxnst�oss b�f re,hazards�ncluded within�.he ter�n"extended caverage" and any o�her ha�ards,
<br /> including f�oads ar f�vading, for which Lender requi.res in;suranc�. Th�.s insuran.ce s�all b� main�a�ned in �he
<br /> am�un�s and far the perzods�ha�Lender re�uire�. The insuran+�e carrier provid�ng the insurance sha��be ch�se�.by
<br /> Borrotiver subject to Lender's �ppr�val which shall nat be u�areaso�ab�y withhe�d. If Borrourer fails �o maintain
<br /> coverage described abave, Lend�r may, �.t Le�der's apti�n,� ob�ain coverage �o protec� Ler�der's righ�s ir� the
<br /> Property in accordar�ce vvith s�ction t�tled Pro�ec��on of Lender's R�ights in�he Prflper�y.
<br /> AlI insurance pa�icies and rene�va�s shal� be accep�ab�e to LE�nder and sha1l include a standar�mortgage c�ause.
<br /> Lender shal�have�he r�ght�o hold the policies and renev�als. �f Lender requires, Borrovver shal�prom��ly give to
<br /> Lender aIl receipts of paid premiums arzd renewal notxces. In�he ev�nt�f�oss, Borrotiver sha��give prompt na�ice
<br /> to�he insurance carr�er and Lender.Lender may make praof o:�loss�f no�made pramp��y by Borrower.
<br /> Unless Lender and BorrQvver otherwise agree in writing, in��uranc� proceeds sha�I �e applie� to res�torat�an or
<br /> repa�r of�he Proper�y damage�, if, in Len�er's so�e dis�retion, the res�oration or repair is economical.Iy feasib�e
<br /> and Lender's security is no�lessened. �f, in Lender's sale dis��ret��n, the res�orat�on or repa�r z� not ecr�nam�ca��y
<br /> feasible❑r Lender's secur�ty v�ould be�essened,t�e insurance��ro�eeds shal�be applied�o�he sums secured by�his
<br /> Security �nstrurnent, u�hether flr no� �hen due, vvi�h any ex{�,es� paid to B�rrawer, If Borrau�er abG�n.dons the
<br /> Praperty, �r does n��ansvv�r wit���the��xx�ber�f days presGribed by Applicable Law as set forth in a r.�ot�ce from
<br /> Lender�o Barrawer�ha�the insurance carrier has offered to s�ttl� a claim, �hen Lender may coilect th�� insurance
<br /> proceeds. Lender may use �he proceeds to repai�or res�ore �ze Proper�y�r�o pay sums sectu Ld by th�s Security
<br /> Instrument,tivhe�her or n��the�.due.The period�f�ime far B��rr�yver�o ans�vver as set forth in tr�e natice vvill beg�n
<br /> when the no�ice is gi�en.
<br /> Unless Lender and Borrower otherwis� agree in�vriting, any��pplica�in�of praceeds�o pr�nci�a� sha11 not extend
<br /> or pfls�pone the due date af�he paym�nts due under�he �on�a-a�t or change �he amoun�af the payments. �f under
<br /> �he �ectian titled Ac�eleration; Remed�es, the Proper�y is ac��u�re�by Lender, Borrovver's righti tfl an��insurance
<br /> policies and proceeds resul�ing fram damage to the Proper�y pri�r ta �he acquisit�on sha�l pas� to Lender �o �he
<br /> extent�f the sums secured by this Security�nstrument im�nedi��tely pr�or�o the acqutsition.
<br /> Preservat�on, Main�enance and Pr�te��i�n of the Praper��9 Borrower's Loan Appl�ca.tifln� Leaseho�ds.
<br /> Borrower shal� nat destroy, darr�age or�mpair the Property, allow the Pr�perty�fl de��riflra�e, or c�mm����ras�e on
<br /> the Praperty: Borr�wer shall b�in defaul�if any farfei�ure ac�i�n or proceed�ng,,t�vhe�her civil or cr�min��1,is begun
<br /> that in Lender's gaod fa�th�ud�men� cou�d resul� in farfei�ur�; of th� Property or atherw�se ma�erially impair �he
<br /> l�en created by this Security Instrument or Lender's securi�,jr ir��er�s�. Barrawer may cure �uch a d.efault and
<br /> reins�a�e, as provzded in section�itled Borrower's Right t� F�e�nstate, by causing the ac�ion cr proceE�dzng to be
<br /> dismissed ur�th a ru�ing tha�,in Lender's good fa��h de�erminati an,pr�cludes f�rfe�tu.re of�he Barrower's�nteres�in
<br /> the Proper�y or oth�r ma�er�a� impairmen� of�he �ien crea�ed by �his Securi�y Instrumen� or Lendex�'s security
<br /> interes�.Borrower shall also be in default if Borr�tiver,ciuring�:he�oan applicat��n process,gave materially false or
<br /> xnac�ura�e informa�iQn or s�a.�eaments to L�nder �or failed t� provi�ie Le�der with any ma�erwal �nfor:mation} in
<br /> con�aec�ion tivith the loan evidenced by�he Contract. If this S��curity Ins�rumen��s an a l�asehald, �arrovver shall
<br /> camply vvi�a.a��the prnvisions of the Iease. �f Sorr�vver acquir�s fee tit�e to the Property,�he leasehflld�.nd the fee
<br /> title shal�not merge unless Len�er agrees to�he rn�rger in wri��ng.
<br /> Prfltect�an of Lender's R�ghts �� th� Property. If Borrov��er fails t� perf�rm the cavenan�s and a.greemen�s
<br /> can�ained in this Security Ynstrument, or th�re is a legal proce+�di�.g�hat may s�gnif cantly affec�Lender's rights�n
<br /> the Property �such as a pr�ceeding zn bankruptcy, prabate, fc�r condemnation or forfe�ture or �o enf�r�e laws or
<br /> r�gulations}, th�n Lender may do and pay for �vhatever is ��ecessary to pro��c� the vaiue a��he Praper�y and
<br /> Lender's r�gh�s in the Prop�rty. Lender's ac�ions may include paying any sums secured by a lien which has priority
<br /> over th�s �ecuri�y�nstrum�nt, appeaxing in court,�aying reasonable a���rneys'fees and entering an the Property ta
<br /> make r�pairs.A��hough Lender ma�take action under thzs sec�::on,L�nder daes n�t have�o d�so.
<br /> Any ar�nunts dzsbursed by Len�er under this se�c�ion shal� b�;come additional deb� af Borro�er secured by �h�s
<br /> 5ecurity Instrum.ent. Unless B�rr��ver an� Len��r agree �� o�h�r terms of paymen�, �hese �mau�ts sha�� beax
<br /> Q 20�4-2415 CompIiance Systems,Inc.$C5�-IAFS-2415.11.3.I098
<br /> Ca�sumer Real Estate-5ec�rity Instrume�t DL2435 Page 2 of 5 www.campliancesysterns,cvm
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