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2� 1 ��2528
<br /> �3orro�ver warrants and w��l defend generally the �itle t� the Proper�y against alI claims and demands, subj�ct to
<br /> any encumbrances of rec�rd.
<br /> Borro�rer and Lender c�venan�and agree as fQ���ws:
<br /> Paym�nt of Principal and In�er�st; �ther Cha�ges.Borro�t�er shall promptly pay when due yhe principa��f and
<br /> interes�an�he debt ovved under the�ontra�t and 1a�e charges��r an}r�ther fees and charges due under���e Can�ra�t.
<br /> Applicable L�w. As used ua. �h�s Security �nstrument, the �erm "App�icable LaW" shall mean all c�n�ro�l�ng
<br /> app�xcab�e federal, state and l�cal s�atutes, reguiations, ordinanc�s and adm�.nis�ra�iv� rules an� order�� ��ha�have
<br /> the effec�of�avv}as we��as all applicable f nal,non-appealable�udicia�flpin�flns.
<br /> �harges; Liens, Borroyver shall pa� all �axes, assessments, char��s, f nes and �mpositions at�ribut.�ble �o �he
<br /> Property�vhi�h may attain priarity over this Security Ins�rum.ent, a�zd�easeho�d paymer��s or gr�und r�nts, �f any.
<br /> A��he reques�of Lender,Borrovve�sha�I promptly fi�rnish to I.�ender receipts evzdencing th�pa�men�s.
<br /> Borrawer sha�I promp�ly discharge any Iien yvhi�h has priority a�er this S�curity Instrument u�.�ess Ba�rraWer: �a}
<br /> agrees �n wri�ing to the paymen� of the obliga�ion secured by th� lien in a manner acc�ptab�e �o I:�ender; �b}
<br /> con�ests in good faith the i�en �y, ar defends against enfarc��ment af the lien in, �egal pro�eed�ngs urhich in �he
<br /> Lende�'s opinron opera�e ta pr�vent the enforc�men� ❑f the lien; �r �c} secu.res from the ho�der of the I�en an
<br /> agreement satxsfactiory�o Lender �ubordina�tin��he �ien to this 5ec�.ty Instru.ment. If Lender�eterrnir��es�hat any
<br /> par� of the Proper�y is subj ec�ta a �ien tivhich may a�taxn pric�ri�y nver th�s 5ecurity Instrument, Lend�:r may give
<br /> B�rroWer a notice identifying�he 1ien. B�rrower shall �at�sfy the li�n ar�ake on� �r more �f the actio:r�s se�for�h
<br /> above w�thin ��days of the giving af nfltice.
<br /> Hazard or Property Insurance. Bo�-rower sha�I keep the im.provem�nts n��w e�asting or hereafter erec�ed.on the
<br /> Property insured against loss by f re,hazards inc��uded within�he term"ex�ended caverage" anc any ot�.er hazards,
<br /> includ�ng �.00ds or flaading, for whi�h L�nd�r re�uires in��urance, This insurance s�all b� main�a�ned in the
<br /> amounts and far�he per�ods�ha�Lender requires. The insuran�e car�-ier proviciing�he insurance sha11 b�:chosen by
<br /> B�rrovver sul��ect ta Lender's approva� �which shall nat be u:r�reasanably wi�hhe�d. �f Borrower fa�ls �o ma�n�a�n
<br /> �overage des�r�bed above, L�nder may, at Lender's op�ifln, ob�a�n caverage to pra�ect Lender's rights �n �he
<br /> Property in acc�rdance uri�h section ti�led Prote�tion of Lend:er'�Rights�n�he Pr�per�y.
<br /> AlI insurance p�lic�es and renewa�s shall be accep�able to L��nder �.r�d shal� �nc�ude a s�andard mortg�.ge clause.
<br /> Lender shal�have the rxgh��o ho�d�he po�ic�es and rer�ewals. �f Lender re�uxres, Borr�vver shall pr�mp��y g�ve�o
<br /> Lender aIl receipts �f paid pr�miurns and renewa� notices. �n�he ev�n�of loss, B�rrower shal�g�ve promp�na�ice
<br /> �o th��risurance carrier and Lender.Lender may make proof�f loss if n��made promptly by Borrovver,
<br /> Un�ess Lender and Borr�vver o#herv�r�se agre� �n wri�ing, �n;�urance pra�eeds shall be app�xed to r�s�ora�ion or
<br /> repair of the Property damaged, �f, in Le�de�'s sole discretic�n, the res�oration or r�pa�r �s econami.ca��y feasib�e
<br /> and Lender's security�s no�lesser��d. �f, �n Len�er's so�e disc�re���n, the res�orat�on ar repair is nv� econom�ical�y
<br /> feasible or Lender's securi�y would be Iessened,the insurance proeeeds shall be applied to the sums secured by this
<br /> S�curity Ins�rument, �rhether or not then due, u�ith any ex�ess paid ta Borrower. �f B�rrovver abandons the
<br /> Property, ar does no�ansv�er vvithim�he number of days presc�-ibed l�y Applica�le La�w as set fo�h in a no�ice frflm
<br /> Lender to Barrovver that�he�nsurance carri�r has offered�❑ ��et��e a�Iaim, then Lender may col�ect�h� insurance
<br /> proceeds. Lender may use the proceeds �o repair or rest�re �;he Pro�er�y or�o pay sunr�s secured by t��s Se�urzty
<br /> �nstrumen�,wh��her�r n��then due.The p�rio d�f time for B c�rrotiver to ansvver as se�f�rth�n the no�ic�vv�I�b egin
<br /> �vvhen�he n��ice�s given.
<br /> Unless L�nder and B�rrower��h�rwise a�ree in writing, any applic�.���n�f pr�ceeds��prznc�pal shall not ex�end
<br /> or postpone the due da�e of th�paymen�s due under�he Con�rac�or�hange the amaunt af�he paymen�.s. If under
<br /> the sectzon titled Acce�eration; l�.�medfe�, the Pr�per�y is acquired by Lender, Borrawer's rig�t t� an��insurance
<br /> po�icies and proceeds resu�ting from damage �o the Properry pr��r to the ac�u�s��ian shall pas� to Le�lder to the
<br /> ex�en�af the sums secured l�y this 5ecurity Ins�rument imm�d�a�ely prior�fl�he acquisitivn.
<br /> PreSer�at��n, Maintenance and Protec�i�n of �he Prvp��rty; B�rrower's Loan Appl��ation; LeaSeholds.
<br /> Boz-rotiver shal�n�t destroy, damage ar impair the Pro�ert�, a]:IovSr�e Proper�y tv de�eri�ra�e, �r commit waste on
<br /> �he Properfiy. Borrower shall be in default if any farfe�ture acti�n or�r�ceeding,v�rhether civi�o�crim�nal,is begun
<br /> that in Lender's gtiod faith.judgment could result �n forfei�ur�� of the Pr�perfiy or otherwise rna�erial�y impair the
<br /> lien �reated by �his Security Instrumen� or Lender's security �nt��est. Borr�wer may cur� such a �Lefaul� and
<br /> reins�a�e, as provided in section t�t�ed Barr�wer's Right tv ��.ei�xs�ate, by causing�he action ar proce�di�.g�o be
<br /> dismissed wit�.a ruling�hat,in Lender's ga�d fai�h determina�:�on,precludes farfei�ure flf the B�rr��er's�intere�t�n
<br /> �he Pr�perty or other m�.a�erial impairment af�e lien creat�fd by th�.s 5ecuri�y �nstrumen� or Lender's security
<br /> in�eres�.Borrou�er shal�also be in defaul�if Borrower,during�the la�n appl�cat�on process,gave materially false or
<br /> inaccurate informat�on ar s�a�emer�ts to Lender �or fa��ed to pr�vide Lender �ith any materia� inf�rmat�an} in
<br /> cannection with the �oan evidenced by�the �on��act. If�his S��eur�ty Ins�rument is on a leaseh��d, Borr�ower sha1l
<br /> c�mply w��h al�the provisions af the lease. If Boxrovver acqui��e�fee��t1e�o�he Proper�r,�he�easehold and the fee
<br /> t�tle shal�not merge unless Lender agrees�a the merger in wri��ng.
<br /> Protect��n of Lender's l�ghts �n the l�roper-�. �f Borrovaer fails �o perform �he cavenants and a�greements
<br /> contained in this Securi�y�nstrument, ar there is a�ega�proceeding�hat may sig�f cantl�r affect Lender�'s righ�s in
<br /> �he Properry �such as a pr�ceeding in banl�rup�cy, probate, fc�r c�nd�mnatian or forfeiture flr t� enforce �aws �r
<br /> regulations}, then Lender may do and pay f�r wha�ever is �zecessa�y �o pro�ect the value ��'�he Pr�perty and
<br /> Lender's rights in�he Properry. Lender's actions may include��aying any sums secured by a Iien vvhich�.as priarity
<br /> ��Ofl�-2015 Compliance Systems,Inc.8C54-SA38-2�I5.�1.3,1498
<br /> Consumer Rea]Estate-Security Instrument DL2036 Pa�e 2 af 5 www.cQmptiancesystems.com
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