|
2� 1 ��245�
<br /> Paym�nt of Principa�and Inter�s�; �ther Ch�.�ges.Borroti�er sha��promp��y pay�vhen due�he pr�nc�pal of a�d
<br /> �nter�s�on the debt�v�reci under the Contract an��a�e charges+�r any a�.her�'ees az�d charges due under th.e Contrac�.
<br /> Applicabl� Law. A5 t�S�C� ln. ��1I5 Secur�ty Instru.ment, the �erm "Applicable Law" shall mean aI� con�ro���ng
<br /> app�ica��e federa�, state and Iocal statu�es, regula�i�ns, ardin;�nces a�� adminis�rative rules ar�d orders� (that have
<br /> the effect of�aw}as well as all applicable fnal,nan-appealab���ud�G�a�opinions.
<br /> Charges; Liens. Borrovv�r sha�I pay a11 taxes, assessmen�s, char�es, fnes and �mposi���ns at�ribu�a.b�e to fhe
<br /> Property vvhich ma� attain priority over�h�s Secu�-ity Instrum�n�, and leasehnld payments ar ground ren�s, if any.
<br /> A�the request of Lender,B�rro�ver sha�l prompt�y furnish to I�ender receip�s evidenc�ng�he pa��m.ents.
<br /> Borrnvver sha1�promp�Iy d�scharge any lieri�vhi�h ha�priorit�r��rer�his Security�ns�ru.rnent u�Iess Barrower: (a}
<br /> agrees in wri�ing ta the paymen� of�he ob�igatifln secured by �h� Iien in a manner acceptab�e �o Lender; tb}
<br /> contes�s in good fa��h the ��en by, or defends agains� enforc��ment of the l�en in, Iegal proceedings v�hich in the
<br /> Lender's opinion opera�e �v prevtnt the enfor�emen� of the �ien.; or �c} secures from �he halder of�the l�en an
<br /> agreemen�satisfactory�a Lender subordinating�he �ien to �his Secur�ty Instrument. If Lender determin.es that any
<br /> part af the Praperty is subj ect to a lien,which may attain prit�rity over this 5ecurity�ns�rument, Lend�r may give
<br /> BorroWer a n�tx�e identify�ng the lien. Borrovver shall satisfy the li�n or�ake ane �r m�re �f�e actio�ls se�for�h
<br /> above within ��days of th�giving�f not�ce. .
<br /> Hazard or Prop erty Insuran�e. �ar-r�vv�r sha�l keep the impravem�nts nov�r existing ar hereaf�er ere+�ted a�.the
<br /> Property�nsured agains�loss by fre,hazards included vvith�n�:he��rxn"ex�end�d coverage" and any ather hazards,
<br /> in��udin.g f1Qa�s or flood�ng, for vvhich Lende� requires ini74i..L CL11C�. This insurance shall be main�ai.ned �n the
<br /> amounts and fflr the periods tha�Lender re�uires. The insuran�;e carrier providing�he insurance shal�be chosen by
<br /> Borrower subjec� �o Lender's approval v�hich s�all not be u��reasonably vvi�hhe�d. If Borrflwer fa�1s to ma�n�ai�
<br /> coverage described above, Lender may, �.t Lender's optior�:: obtain coverage ta pra�ec�. Lender's ri�h�s in the
<br /> Pr�per�y in accordance vv�th sectivn ti�led ProteCt�on nf Lender's Rights in the Property.
<br /> AI� znsurance p���c�es artd rene�va�s s�iall be accep�able �o L��nd�r and s�a�� inc�ude a standar�mor�gage clause.
<br /> Lender sha��have the righ�tfl hold the polic�es and renevvals. �f Lender requires, Borrotiver shall prom�at�y gzve to
<br /> Lender a�I rece�p�s of paid premiums and renevva�notices. In the e�r�n�of�oss, I3�rrower shal�gi�re prampt not�ce
<br /> to�he insurance carrier and Lender.Lender may make pr�af o:�lflss if na�made promp�ly�y Barrower.
<br /> Unless Lender an�. Borrower o�herwise agree �n wri�ing, in;�uranc� proc�eds shall be applied to res�tora�ivn or
<br /> repair of�he Proper�y damaged, if, zn Lender's �ole discretion, the restara#�on or repair is ec�nomical.ly feasib�e
<br /> and Lender's securi�y i� nat lessened. If, in Lender's sole dis��re�ion, the restoration ar repaxr�s no� ecr�nomxca��y
<br /> f�as�bl�or Lender's security would be�essened,the insura.nce��ro�eeds shal�be app�ied to�he sums secured by th�s
<br /> Se�uri�y �ns�rumen�, �vhe�her or not then due, vbrith any ex{�ess pa�d to B�rrower. If Barr�wer abandor�s the
<br /> Praperty, or d�es not ansvver wi�.�n�he number of days prescribed by App�icab�e Law as s�t for�h in a r.�flt�ce from
<br /> Lender ta Borrawer�hat�he insurance carrzer has �ff�r�d to sett�� a claim, then Lender may callect th�, insu.rance
<br /> pro�eeds. Lender may use the proceeds �a repair �r res�ore ��e �roperty or to pay sums securLd by�this Securi�y
<br /> Ins�rument,whether or n�t then due.The period�f�ime for Ba�rra�ver�a ansWer as se�fflr�h in�se natice tivi�I beg�n
<br /> when�he n�tice is giv�n.
<br /> Un�ess Lend�r and B�rrower atherw�se agree in vvri�ing, any,�.pp��ca�ion of proceeds to pr�nci�al sha��not extend
<br /> �r p�s�pone�he due date of the paymen�s due un.der the Con�ract or change�he amau�t of the�ayments. Zf under
<br /> �he section t�t�ed Ae�e�eration; RemedYes, the Prapert��s ac+�uired by Lenders B�rrower's righ��o any insurance
<br /> poii�ies and pr�ceeds resul�ing from �.amage to the Proper�y prior t� �he ac�uis��ian shal� pa�s tfl Lend�r �o the
<br /> extent of�he sums secured hy this 5e�urity Ins�rurnen�t immedi���ely prior�o the acquisiti�n.
<br /> Preservatian, Maintenanc� and Prote��ion af the Propex-ty; ��rrower's Laan �►.pplica�ion; L�ea�ehfl�ds.
<br /> Barrotiver shal�not dest�-o�, damage or impair�he Property, al�ov�r the Pr�per-ty tfl deteriorate, ar commi:t waste on
<br /> �he Property. Borrovver shall be in default�f any f�rfeiture acti+�n or proceed�ng,�rhe�her civ�l or crimxna:I,is begun
<br /> that�n Lend�r's goad faith judgn�.en� cau�d resul� in forfeitur�� of�h� Property or a�he�-wise materially impa�r the
<br /> lzen created by �his S�cu.rity Instrumen� or Ler�der's secuarityr int�res�. Borro�rer may cure such a defau�t and
<br /> reins�ate, as provided in sec�ivn�i�Ied BQrrower's Right t� P�ei�st�te, �y causing�he action or proceeding�o be
<br /> d�smissed with a ruling�ha�,�n Lender's good fa�th de�ermina�i�n,pr�cludes farfe��ure af the Borrotiver's�n�eres��n
<br /> the Property �r other material impa�rment of the Iien create�I by �his Securi�y Yns�rumen� or Lender`s security
<br /> znt�rest.Borrotiver shal� als�be in defaul�if B�rrawer,during the laar�applica�ion pracess,gave materxal[Iy false ar
<br /> inaccurate informati�n ar s�a.tements �o Lender �or fai�ed �o pravide Lender vvi�h any materia� �nfor�nati�n} �n
<br /> conn�c�ion wi�h�he �oan ev�denced by th� C�n�ract. �f��115 S�,cu.rity�ns�rument is on a leasehold, Borr�vver sha�l
<br /> comply�vith a1�the provisio�s flf the lease. If Borrotiver ac�uir��s f�e ti�le to�he Property,the le�sehald and�he fe�
<br /> �itle sha1l not merge unless Lender agrees�o the merger in writi:ng.
<br /> Frotec��on of Lender's Rights ir� the Pr�perty, �f Borrou�er fai�s ta perfarm the c�venan�s and a eements
<br /> �
<br /> c�ntained in this Security�nstrument, or�here is a legal pr�ce�.ding that may sign�ficant�y affec�Lender°s righ�s in
<br /> the Property �such as a proc�eding in bankrup�cy, prabate, fa�r condemnation or forfeiture or t� enfor�;e �ativs or
<br /> regulat�ons�, �hen Len�ier may da and pay for �vhatever is r.�ecessary �� pr��ec� the value of�he Praperty and
<br /> Lender's rzgh�s in the Praperty. Lender's ac�ions may include p�aying any sums secured by a l�en v�rh�ch h�s priority
<br /> over�his Security�ns�rument, appearing in court,paying reaso:�ab�e att�rneys`fees and entering on the F'r�perty to
<br /> make repairs.Although Lender ma�take ac�ion under�his sec�i an,L�nder d�es not ha�e�o do s�.
<br /> Any amounts disbursed by L�nder under �his secxi�n shall ��;come addi�i�nal debt of Borrow�r secur�ed by this
<br /> 5ecur�ty Instrumen�. Un�ess B�rrower and Lender agree �a o�her �erms of paymen�, these a�n.ounts shal� bear
<br /> C�2004-2015 Cam��iance Systems,Ync.8C54-AD66-2Dt5.i 1.3.1fl98
<br /> Consumer Real Estate-Sece�rity Instrurnent DL2�36 Pa�e�❑f 5 w�vw.�ampli��ncesystems.�om
<br />
|