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2� 1 ��2454
<br /> Appli�a�l� L�.w. As used in �his Security Ins�rument, �he term "Appli�able Lavv" shall mean a�� contra�l�ng
<br /> app�icable federal, s�a�e and lacal sta.tu�es, regula�ion�, ardinanc�s and admin�strative �ules and order� �that ha�e
<br /> the e�fec�of�av�r)as v�ell as a�l app�i�able final,non-appealahle�udicial flpinians.
<br /> �harges, Liens. B�rravver sha�l pay a�� taxes, assessx�ents, char�ges, fines and imposi�ions a�tribu�a.�ale ta t�.�
<br /> Property v�hzch may atta�n prior��y over this Securi�ty�nstrum�ent, and Ieasehold payments or�r�und r�n�s, if an�.
<br /> A.t the request�f Lender,Borrav�rer shall promp�ly furnish to Lender receip�s evidencing th.e pa�ments.
<br /> Borrflwer sha�� prompt�y discharg�any lieri v�rhich has przority over th�s 5ecurity�nstrumen�u��ess B�rr�vver: �a}
<br /> agrees �n wr�t�ng �o �h.e payment of�he �blig�tifln secured by th� lien in a manner acceptab�e t� r�end�r; �b}
<br /> contests in good fa�th the lien by, or defends against enforc�ment of�he ��en in, �ega� proceed�ngs urh�ch in tihe
<br /> Lender's opinian aperate �� pre�en� the enforcement of the Iien; �r �c} secures from the halder of the �zexz an
<br /> a�reement sat�sfac�ory to Lender subordinating t�e lien ta this Security Ins�rurnent. If Lender�etermir�es�hat any
<br /> part of the Pr�perty is subj ect to a lien v�rhich may a�tain priority aver �his Security Instrument, Lender may giv�
<br /> Barrotiver a no�ice iden�ifying the lien. Borro�ver shall satisfy the li�n or�a�e one �r more of�he ac�ions set f�r�h
<br /> abave�ithin 1��.ays af the g�ving of no�ice.
<br /> Hazard or Pr�perty Insurance. �orrovver sha1l keep �he�n�provements no�v�xisting�r here�fter erec�ed on�he
<br /> Proper�y insured agains�loss by fire,hazards included vvi�hin the��rm"ext�nded cov�rage" and any ntl�er hazards,
<br /> �nclud�ng flaods �r flQoding, for wh�ch �,ender requires insurance. This insuran�e shall be rnain�a�ned in the
<br /> arnounts and f�r�h�per�ods tha�Lender re�uires. The insu.ran�e car�ier providing�he insurance shall be chosen by
<br /> Borrower subject �a Lender's approval which shall na� be unreasonab�y tivithheld. �f Barraw�r fai�s to maintazn
<br /> coverage described above, Lend�r may, a� Lender's optian, obta�n caverage tfl pra��c� Lender's rights �n the
<br /> Prflperty in a�c�rdance vvith sectzan ti��ed Prote�tion af Lenc�er'�l�ights in the Property.
<br /> A11 znsurance policies and renewa�s sha�� be ac�eptable �o L�nder �.�d shall include a s�andard mortgage clause.
<br /> Lender sha11 have the right�o hald�he palic�es and reneurals. �f Lender requires, Borra,wer s�all promptly give�a
<br /> Lender alI receip�s of paid premiu�ns and renewal notices, In the event Qf�ass, Barro�t�ver shall give prompt not�ce
<br /> �o the insuran��carrier and Lender. Lender may make praaf of loss�f not made promp�ly by Borravver.
<br /> Ilnless L�nder and Borrower otherwise agree in vv�-��ing, insuranc� proceeds shall be applied �o restoration or
<br /> repa�r of the Pr�p�rty damage�., if, in Lend�r's sole discretic�n, �he res��ration or repair is economi.ca��y feasible
<br /> and Lender`s security is n�� �essened. If, in Le�der's sole disrretian, �he restvratitin ar repair is no� econamzca��y
<br /> feasible ar L�nder's security would be lessened,the insurance pr�ce�ds s�.a�l be appl�ed�to�he s�secured by this
<br /> Security �nstrumen�, wheth�r or not �hen due, �vith any excess �aid �fl B�rrov�rer. �f Borrower abar�dons �he
<br /> Property, or daes no�ansWer Wi�Yii�the r�u.mber�f days prescribed by Appl��ab�e Law as se�f��h�n a notice from
<br /> Lender to Borrov�rer that the insuran�e carrier has �ff�r�d�0 5�t�le a c�a�m, �hen Lender may co�Iec��h� �nsurance
<br /> proceeds. Lender may use the praceeds �o repair or res�ore ti�e Pr�per�y�r to pay sums secured by th�s Security
<br /> Ins�rument,vvhether flr no�then due. Th�p�rind flf�zme for Borrower�o ansvver as set forth in�he nnt�c�will beg�n
<br /> vvhen the no�zce is given.
<br /> Un�ess Lender and Borrovv�r o�herwxse agree in writing, any applic��ion of pr�ceeds ta principal sha�l not extend
<br /> or p�stpone the due da�e of�he paymen�s du�under the Con�ract or change �he am�unt of�he paymenl.s. �f un�ier
<br /> the sectzan ti�Ied Ac�e�eration; l��medies, the Pr�perty is acquired by Lender, Borrovver's righ��� an�r insuranc�
<br /> policies and proceeds resul��ng frnm damage �a th� Property prior �� �he ac�uis���on s�al� pass �o Le��der to th�
<br /> ex�en�of the stuns secured by this Security�nstrumen�zrnmediately pr�or�a the acquis��ian.
<br /> Pr�s�rvation, Main�enan�e and Prot�c�ion of the Prope�r�y; Borrovver's L�an Applica��on; Leas�ho�ds,
<br /> �orrovv�r shall not des�ray, damage or impair the Properfiy, al�otiv th.e Proper�y to deter�orate, or comrni�wa�te on
<br /> �he Froper�y. Borrovver sha�l be�n defaul��f any forfeiture ac�ion or proceeding,vvhe�her�ivil o�-crim�na�,is begun
<br /> tha� �n Lender's good faith judgm�nt could result in forfeitur� of the Property ar o�herwise materia�ly impa�r the
<br /> Iien created by �his 5ecurity Ins�rument or Lender's security in�e�est. Borrflvver may �ure such a c�efault and
<br /> reir�s�a�e, as prav�ded in secti�n ti�led Borr�vver's Righ� to�te�ns�a�e, by causing the ac��on or procee:d�ng t� be
<br /> dism�ssed�v�ri�h a ruling that,in Lender's go�d fai�h determinat��on,prec�udes forfeiture of�he BarrQwer's�n�eres�in
<br /> the Property or ather material impairmen� Qf the lien crea��;d by this Securi�y Instrument or Lender's securzt�r
<br /> �nterest.Borrower sha11 als�be�n defau�t if Borr�tiver,dur�ng�he l�an applica�ion process,gave materially fa�se or
<br /> inaccura�e informat�an ar statements �o L�nder ��r failed to provide Lender w��h any materia� informa��on} �n
<br /> cannect�on wi�h�he loan evidenced by the Contract. Tf this 5ecurity Insf.rument is on a leasehc�ld, Borrovver sha��
<br /> comply wi.th.al��he pr�visions of the Ieas�. If Borr��ver a�quir�s fee�i�le to the Property,�he leaseho�d and the fee
<br /> ti�le sha1�n��mer�e un�ess Lender�grees�o�he mer�er in writing.
<br /> ProteC�ion af �ender's Rights �n thQ Pr�pert�. If B�rrovaer fails �a perf�rm the cavenants and �.gr�ements
<br /> contain�d�n this Secuxity�nstrument, or�h�re �s a�egal proce�ding�hat may significantly affec�Lender�'s rights in
<br /> �he Praper�y �such as a proceeding in bankrup�cy, pr�ba�e, for condemnatxon ar forfeiture or ta enfar�ce �aws or
<br /> regula�ions�, then Lender may do and pay for whatever �s necessary t� pr��ec� the �alue v�the Prope�-ty and
<br /> Lender's rights�n�he Proper�y. Ler�der's ac�ians may inc�ude p�aying any sums secur�d by a lien vvhich has priority
<br /> over this 5ecurity�nstrument, appearing in�ourt,paying reasonable at�orneys'fees and entering an the Pr�perty to
<br /> make repairs.Although Lender n�.a�r take ac�ion under�his sec�ion,L�nder dfles not hav�t�do sn.
<br /> Any arnaun�s dxsbursed by Lender under �his sec�i�n shall b�come additiona� deb� af Borrou•er secured by �h�s
<br /> Securzty Ins�ument. Unless Borr�wer and Lender agree ta ather �erms of paym�n�t, �hese amounts shall bear
<br /> in�erest fram the date �f d�sbursemen� at the same ra�e assessed an advances under �he �o��ract and shall be
<br /> payable,with xn�er�st,upon nat�ce from Lender�o Borrov�rer request�ng paymen�.
<br /> Q 2�a4-2415 Compliarice Systems,�n�.8C54-�45AE-2fl15.11.3.I498
<br /> Cansttmer Real Estate-5e�urity Instrument DL2�36 Pa�e 2 af S www.coinpliancesystems.com
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