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2� 1 ��3228
<br /> Payment af Pr�ncipal and In�er�st; ��her Charges.Borrotiver shall promptly pay�rh�n due�he pr�n�ipa�of and
<br /> �nteres�❑n the deb�ovved under�he Con�rac�and late charges��r a�y other fees and charges due under th.e C�n�ract.
<br /> .�ppli�abie Law. As used in �his Securit�r �ns�rument, the �erm "Applicable Lavv" shall mean all can�ral��.g
<br /> app��cable federal, state and local statutes, regulatiflns, ordin�nces a.nd adm�nis�rative rules ant� orders� �that have
<br /> the effec��f law}as�well as aIl applicable f na�,non-appea�a�le judicia�opinzons.
<br /> �harges; L�ens. Borr�vver sha�� pay al1 taxes, assessments, charges, fines and izr�pos���ons at�r�bu�ab�e �� �he
<br /> Properfiy urhich may at�ain priority over this Security�ns�ruxnen�, and leasehold paymen�s or g�ound r�nts, �f any.
<br /> A�the request�f Lender,Borrower sha�l prnmpt�y furnish�o Ilender receipts evidencing the pa��ments.
<br /> Borrovver shall promptly discharge any lien vvhich has priori�y over this 5ecur��y Instrument un�ess Borr�wer: �a�
<br /> agrees in wri�ing �o tihe payment of the obl�gatian secured by th� �ien in a manner accep��ble to Len�er; �b}
<br /> cont�sts in good fai�h the lien by, or defends a�ainst enforc��ment of the Iien in, �egal proceedings which in the
<br /> Lender's opinion operate ta prevent the enfarcement �f�he lien; or {c� secures from the ho�der af�he �ien an
<br /> agreemen�satisfactary ta Lender subord�nating�he lien�o this Security�nstrument. If Lender determin.es that any
<br /> part of�he Prflperty�s sub�ec��o � �ien Wh�ch may at�ain pri��r��y over this Security�fls�rument, Lender may gxve
<br /> Barrower a notiee�dent�fying the Iien. B�rravver shall sa�isfy the li�n or take one or more af�ie actions set forth
<br /> above witihin 1�days of the giving of not�c�.
<br /> Hazard or Pr�perty Insuran�e. �3or-ro�r�r shall k��p the�mpravements n�tiv exis�ing or h�reafter ere�ted on�he
<br /> Praperty�nsured against�oss by f re,hazards included wi�hin��he�errn"ex�ended cflverage" and any�ther hazards,
<br /> inc�uding flaads or f�ooding, fvr which Lender requires in�urance. This insurance �hall be maznta�ned in the
<br /> am�unts and for the periods�hat Lender requ�re�. The�.nsurance carr�er prov�ding the�nsurance shall be chosen by
<br /> Borro,wer subj ect t� Len�er's approval wh�ch shal� no� be u�zreasQnab�y vvithhe�d. If Barrower fails to main�ain
<br /> caverage described abo�re, Lend�r may, a� L�nder's flptian., ob�a�n coverage �a prfltect Lender's ri�hts in the
<br /> Proper�y zn accordance vvith section���1ed�'r�tection�f Lend.er��Rights�n�he Prtiper�y.
<br /> A�l insurance pQlic�es and renev�ra�s shal� be aeceptable to L�nder �.nd sha�I include a ��andard mar�gage c�ause.
<br /> Lender sha�I have�he rzgh��o ha�d�h�pol�cies and renevva�s. Zf Le�der requires,B�rrawer sha�l promptly give to
<br /> Lender aI�receip�s of paid premiums and renewal notices. In�he even�of lass, Borr��wer shall give prc�mpt natice
<br /> �o the insurance caxrier and Lender.Lender may make proof of Ioss if not made prompt�y by Borro�er.
<br /> Unless Lender and Borro�er �therwise agree �n wr�t�ng, �n,�uran�e proceeds sha�l be applie�i to res�ora�ion or
<br /> repair af#he Proper�y damaged, �f, �n Le�der's sole d�scretion, the r�s�oration or repa�r is economica]��y feas�b�e
<br /> and Lender's securi�y is nfl�lessened. �f, �n Lender's sole disc�retifln, the res�oration or repair is not ec�onam�cal�y
<br /> feasib�e ar Lender's secur��y wou�d be Iess�ned,�he insurance pr�ce�ds sha�l be applzed�o the sun�.s sec�red by�his
<br /> S ecurity Instrument, v�rhe�her or no� then due, u�ith any ex�ess p aid t� B orravver. If B orravver abandans �he
<br /> Proper�y, flr does no�ans�er wi�h�n�he�umber of days prescr�ibed by App�tcable I�a�v as se��fo�th�n a n.otice from
<br /> Lender�o Borrower�hat�he insurance carrier has offered to �ett1e a c�aim, �hen Lender may cal�ect�h� insurance
<br /> prflceeds. Lender may use �he pro�eeds to repair or restore �ie Pr�perty or�o pay sums secur�d by�h.is Secur�ty
<br /> �nstrument,whether�r nQt th�ri due.The period�f�ime for Barrov�rer to answer as set for�i in t�e n�ti�e v�r��l be�in
<br /> when the notice is given.
<br /> Unless Lender and Bvrrovver otherwise agre� in writing, any appl�ca�ion of pr�ceeds�o principa� sha�l not extend
<br /> or postpane the due date of the paymen�s due un�.er the Cant:ract Qr change�he amou�.t of�he pa�xnen�s. If under
<br /> �he section�z��ed Acceleration; Remedi�s, �he Praperty�s a�quired by Lender, Borrower's r�g�-��to an�r insu.rance
<br /> policies and proceeds resu���ng from damage tQ �ie Property prior �o the acquis�tion shall pass to Lender ta �he
<br /> ex�en�of�he sums secured by this Security Instrumen�immedi�tely�rior ta�he acqu�s�tion.
<br /> Preservation, �Vlaintenance and Protec��on of the Prope:rty; Borrayver's Loan App�ic�tior�; Leaseh��ds.
<br /> Borrawer sha��no�des�r�y, damage ar impair�he Praperry, allow the Property�� deteri�rate, Cr cornrnit was�e on
<br /> the Property. BorraWer sha��be in defau��if any forfei�ure action ar proceed�ng,vvhether civ�l or crimina�,is begun
<br /> �hat in Lende�'s good fai�h�udgment could result �n forfeitur�� of the Property or otherwise ma�erial�y im.pa�r th�
<br /> ��en crea�ed by th�s Security Zns�rument �r Le�der's se�uri�y int�rest. Borrawer may cure �uch a c�efaul� and
<br /> reinstate, as provided�n sect�on titled Borrower's Righ� fio��eins�ate, by causing the �c�ion�r praceeding ta be
<br /> dismissed vvzth a ruling�ha�,�n Ler�der`s gaad fai�h de�erminat�an,precludes farfeitu.r�of�he B�rrower's interes�in
<br /> �he Pr�perty or other ma�erial �mpairmen� af the lier� creat�:d by �his Security Instrument or Lent�er's secur�ty
<br /> �nteres�.Borrou�er shal� alsa be�n defaul�if Borr�wer,during�che loan applica�ion process,gave ma�erially fa�se or
<br /> �naccura�e information or s�atements to L�nder �ar faz�ed to pr�vide Lender wi�h any mater�al znformation} in
<br /> connection with the Iaan e��denc�d by �he ��ntrac�. If this 5�curity�ns�rument is an a leaseh��d, Barra�r�r sha�l
<br /> comply vvith aIl the prov�s�ans of�.ae lease. If B�rrovver acquir�es fee t�t1e to�he Proper�.y,the�easehold and the fee
<br /> ��tle sha��no�merge un�ess Lender agrees�o the merger in wr�ting.
<br /> Prvtection of Lend�r�s RY.ght� in the Froperty. Zf Borro��er fails �o perf�rm the covenan�s and a.greernent�
<br /> canta�ned in th.zs Security�nstrument, or�h�re is a�egal prvice�ding�hat may s�gnif cant��affec�L�nder's r�ghts in
<br /> �he Propex�ty �such as a proceed�ng �n bankruptc�, proba�e, f��r �nndemnatian or f�rfei�ur-e or ta enfor�ce laws or
<br /> regulat�ans}, then Lender may da and pa� for ,wha�ever �s ��ecessary �o protec� �he va�ue o�the Property and
<br /> Lender's rights�n the Property. Lender's acti�ns may�nclude p�aying any sums secured by a lien u�hich has pr�arity
<br /> over this 5ecurity�nstrumen�, appea.r�ng ua.courts pa�ring rea�onabl�a�t�rneys'fees and en�ering on th�Pr�perty to
<br /> make repairs.ATthough L�nder may take ac�ion u.nder�his sec�ion,Lender d�es not have to do so.
<br /> Any amaun�s d�sbursed by Lender under �hzs s�ct�on shall bf�came additional de�� of Borrav�rer s�cured by �his
<br /> 5ecurzty �nstrumen�. Unless Borr�w�r and L�nder agree �a ather �erms of paymen�, �hese amoun�s sha�I bear
<br /> Q 2�04-2�1 S Camplian�e Systems,Tnc.8C54-1955-2�I 5.1�.3.1 d98
<br /> Cansucner Reaf Estate-Security.�r�strument DL2436 Pa�e 2 of 5 www.compliancesystems.com
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