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2� 1 ��3112
<br /> Payment of Pr�nc�pa�a�.d Interes�; �th�r��harges.Borrou�er sh��I pr�mptly pay u�hen due the prin�zpa�of and
<br /> interes�an the debt ov�red under the��ntract��nd la�e charges ar any��her fees and cha.rges due under�he Contra��.
<br /> Applicabl.e Lav�. As used in th�s Security rns�rument, �he terrx� °'Applicable Lav�''' shall m�an a�� ��ntrolling
<br /> applicable fe�eral, s�a�e and �ocal s�atu�es, r��gulations, ordinances and adm�nis�rativ�. rules an� orders �that have
<br /> �he effect of Iativ�as WeII as a1I applicab�e fna.I,nan-appea�able�ud�c�al ap�nions.
<br /> �harge�; Liens. B�rrower sha�� pay a�� �a�kes, assessments, charges, fines and �m�ositions at�ribu�ab�� t� �he
<br /> Property�vhich may at�ai�priority over�his �Security�nstrum�nt, a�d leasehold paym.ents or graund rents, if any.
<br /> �4t�he request af Lender,Borr�wer shal�p�ron�pt�y furr�ish�o Lender receipts��idencir.�g the payments.
<br /> Borrnvver shal�promptly d�scharge any�ien�vh�ch has priority aver this S�curi�y�nstrument unl�ss Bo�r�wer: �a}
<br /> agrees �r� wr��ing ta the paymen� of�he ablzgat�on secured by the lien in a manner accep�able ta Ler�dex; (b}
<br /> con�tests �n good fai�h �he �ien by, or defend� a�a�nst enfarcement of�he �i�n �n, �egal proce�dings which in �he
<br /> Lender's opini�n �perate to preven� the �nf��rc�m�n� of�he iien; or �c} se�ures fro3rn the holder �f�he ��en an
<br /> agreement sa��sfac�ory t❑Lender subordinati�lg�he Iien ta �h�5 5ecur��y Ins�r�ux�.ent. ��`Lender de��rmir��s �ha�any
<br /> part af the Praperty is subjec��o a lien wh�clz may at�a�n priority o�er th�s �ecuri�y Instrument, Lender m.ay give
<br /> Bflrrow�r a n��xce identzfy�ng�he l�en. Borrower shall satisfy the l�en ar�ak� �r�e or�:nore �f the acti�ns set for�h
<br /> above vv��hin 1�days�f the g�v�ng of no�ice.
<br /> Hazard vr Property Insurancee Bor�row�r�hall keep the imp�ovemen�s nov�r exis��n�7 or hereaft�r erec�e�on�he
<br /> Property insured aga�ns��oss by f re,haza�-ds included wi�th�n the terxn"extende�covea�age" and a�.y oth�r ha�ards,
<br /> including fl�ods �r flooding, fflr tivhich Let�der re�uires insuran��. This �nsurance sha�� be maxnta�n.ed xn the
<br /> amoun�s and for�he periods�hat Lend�r requ�.res. The insurance carri�r pr�v�ding the��nsurance sha��be chos�n by
<br /> Borrawer subj ect to Lend�r's approva� wh�c1:� s�a�l no� be unreaso�ably �ithheld. If'Barrower faz�s t� mazn�ain
<br /> caverage descr�bed above, Lender may, a� Lender's op�ion, obta�n cov�rag� �o prntect Lender's rights in �he
<br /> Property in accordance wi�h sectzan����ed Prc�t�c�i�n�f Lend�r's Rights�n the Prap{erty.
<br /> AlI insurance pfllicies and reneWa�s shal� be ac�eptab�e �o L�nd�r and sha�l include ��. s�andard r�ortgag� c�ause.
<br /> Lender shal�have�he right�o ho�d the p���ci�,s and renevvals. If Lender requires,Barr�ower shall prompt�y g�ve to
<br /> Lender aIl receipts �f pa�d premiums and rene�va�no�ices. In the ev��.�of�oss,Bflrro��ver sha��give prompt notice
<br /> �o the�nsurance ca.rrier and Lender.Lender may make proof of�ass�f nat made promp�ly by Borrovver.
<br /> Unless Lender and Barrav�rer o�he�-vvise agr�:e in wri��ng, in�uranc� proceeds sha1l 1�e applied to restorat�a� �r
<br /> repair af the Pr�per�y dam.aged, if, in L��de�'S 501e �.iSC�etion, �he res�ora�ion or repair is economica��y fe�sib�e
<br /> and Lender's security is n�� lessen�d. �f, �n L.ender's sole discr�tion, the r�storati�n or repair�s no�economxeal�y
<br /> feasib�e ar Lender's securifiy would be less�ned,the�nsurance pr�c�eds sha��be appliet�t��he sums secured b�this
<br /> Se�urity Ins�rum���, v�rhether �r not then d�a.e, with any e�cess pa�d �o �flrrovver. If Borr��ver a�andan� �he
<br /> Property, or does not answer w��hin the number�f days pres�ri��d by Appli�a��e Lav�r as se�for�h in a not�ce fr�m
<br /> Lender to Borrawer that the insurance carrier has offered tv s��tle a claim, then Lerid{:r may�o�lect the insurance
<br /> proce�ds. Lender�nay use the pra�eeds to repair or res�ore �e Pro�erry or t� pay sU.ms secured by th�s 5e�urity
<br /> �nstrument,vvhe�her ar not then due.The�eri��d Qf�ime f�r B orrov�re�-�o anstiver as set��orth rn�he no�ice wi�I b egin
<br /> when the no�ice is given.
<br /> Unless Lender and Barrawer other�i�e agree �n v�ri�ing, any app�ica�ian of proceeds��a principa� shal�not�xtiend
<br /> or postpone the�due da�e af�he payments du�:under the �on�ract ar change�he amau���of th�payments. �f L�nder
<br /> �he sectran ti�Ied Acce�erativn; I�emedies, t��e Praperty is acquzred by Lender, Borrower's r�gh��o any insurance
<br /> palzcies and proceeds resultzng from damage �o th� Prape�-ty prior �� the acquis�tinn sha�l pass �a Lend�r tQ �he
<br /> exten�of�he sums secur�d by�his Security Zn���rument immed��tely pr�ar to the acquisi�:��n.
<br /> Pr�ser�at�an, M��ntenance and Pratec��v:n �f the Prope�ty; �arr�we�'S Loan App�icat�on; L�asehoxds.
<br /> Borro,tnrer shal�na�destroy, damage or�mpa�r�the Property, al��w�he Praperty to deterzora�e, or commzt waste on
<br /> the Properry.Borro�vver shall be�n defaul�if a�zy fnrfei�ure action ar proceeding,wheth�er civil or criminal,is begun
<br /> �hat in Lender's goad fai�h�udgmen� couXd r�;suit in f�rfeiture �f th� Property�r othEfr�ris� xnaterial�y ixnpair �he
<br /> �lien crea�ed by �his Se�urity ��s�rument or Lender's s�curit� in�er�st. Borrower m��y cure such a d�efault and
<br /> reins�a�e, as provided in sect��n�ti�led Rorr��ver's R�ght �o R�ins��.te, by causing thti, actian or pro��eding�a be
<br /> d�smissed wi�h a rul�.�a.g that,i�Lender's g�a�.fai�h�.eterminat��n,pr�cludes forfeiture of the Borr�vver's�n�er�st�n
<br /> the Prop�rty or ather material �mpairment of the lien created by �his 5ecurity �ns�rumen� or L�nder�s security
<br /> interest.Borrawer shall a�so be in default if BE�rr�vver,during th�loar�appl�cation pracess,gave ma��rialiy fa��e or
<br /> �naccu.rate infarma�ian ar sta.tements to Len��er �or failed to provide Le�der tivi�h a�1y mater�al informatio��� in
<br /> connectian wi�h�he �oan evidenced by th� Cc�r�trac�. �f�his 5ecur�ty Instrumen�is on a Ieaseho�d, B�rrourer shal�
<br /> com.ply w�th a�l the provisions�f the�ease. If Borrativ�r acquires fee�it�e tfl�he Proper�y, the Ieaseha�d and th�fee
<br /> tit�e sha�I not merg�unless Lender agrees ta�:��r�xerger�r�.wri�ing.
<br /> Protec��on of L�nd�r's R1ghtS in the Pro���rty, �f B�rro�rer fai�s to perf�rm �he cflvenan�s and agreemen�s
<br /> conta�ned�n this Security Ins�rumen�, or�here zs a�egal proceeding��a�may signif ca���Iy affect L�nder's rights in
<br /> the Property �such as a praceed�ng in bax�.�ruptcy, pr�bate, far cond�mna��on or forff�iture �r ta �nforce �av�rs or
<br /> regulati�ns}, then Lender may do and pay for whatever is necessary �o pr��ect the value of the Proper�y and
<br /> Lender's rights �n the ProperCy. Lender's actioz�s may include paying a�y sums secured by a Iien v�rhzch has pr�arity
<br /> over�his Security�nstz�u.ment,appear�ng in co�art,paying reasonab�e a��orney5'fees and.enterxng on th��r�perty�o
<br /> make repazrs.Al�h�ugh Lender may take act�an under this sectivn,L�nder does nflt have t�do so.
<br /> Any amounts disbursed by Lender under thi� sec�ion shall bec�me addi�i�na� deb� af Borrovver secur�d by th�s
<br /> Security Ins�rumen�. Unless Borrovver an� L��nder agree �� o�.her �erms of payment:, these amoun�s shall bear
<br /> �ZQ44-24I5 Cvmpliance Systems,Inc,8C5�-BEEA-2415,I 1.3.1�98
<br /> Cansumer Real Estate-Securi#y Tns#rument DLZfl3G Page 2 af 5 www.compliancesystems.cvm
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