2� 1 ��4448
<br /> Paym�nt of Pr�nc��al a�.d Interest; Prepaym�vrat and Late Charges.� Borro�ver shall pr�mpt�y pay when due�he
<br /> pr�ncipal af and in�erest �n�he debt e��denced by the Not� and any ;prepay�ment and I��.�e �harg�s due under�he
<br /> No�e.
<br /> Appli�able �aw. As used i.n thxs Securrty �nstrument, the �erm "Applicable Law" sha�I mean a�l c��.trall�zag
<br /> applicable federai, s�a�e and �oca� statu��s, regLl�atzons, ordinanc�s an� admin�s�ra���e ri.z�es and flrders �t.�.a� have
<br /> the eff�ct flf lav�}as we��as aI�appli�ab�e fznal,-r�on-appealabl�judicia�ap�n��ns.
<br /> Applicat�on of Payments. Un�ess App��cab�e ��avv pra��des ath�rw�s�, a��payments res��xved by Lender sha��be
<br /> app��ed: fzrst, to any prepay�men� charaes due u�der th.e Nate; second, to in��rest due; ��a�rd, to pri.n��pa� du�; �.nd
<br /> �ast,��any Iat�charges du�under�he�Tate.
<br /> Charges; L�ens. Borro�ver shal� pay all taxes�, assessments, charges, fines a�d zmpos�tions attr�butab�e �o ��he
<br /> Property which may atta�n pr�ority a�er th�s SeEvur�ty Instrurr�ent, and leaseh��d paymen�s or grnund r�n�s, �f a�y.
<br /> Barrower shall pay these obliga���ns �n t�me azxd direc�I��o�he�erson owed paym�.en�. �.t�h�reques�of Lender,
<br /> Borrower sha��pra�m.pti�furnish to Lender receipts ev�dencing�he paymen�s.
<br /> B orra�er sha11 pr�mptly d�scharge any 1�en Wh ich has prz�rity �ver th.zs S ecurity�nstruzr�en�un�ess B�rr�vv�r: �a}
<br /> agrees in vvrzting to �he paymen� of�he ob�zg��t��n sec�r�d by �he l��n in a manner ����epta��e t� Lender; �b}
<br /> contes�s i.n gavd fai�h the �xen by, or defends ��ga�.s� e�farcem.�n� of th� ��en in, Iega� p��ce�d��gs wh�ch in the
<br /> Lender's opinion �p�ra�e ��o pre��nt the �nfor�:en�en� �f the lien; or (c} secur�s from the halder of the ��en an
<br /> agreement sa�isfactory�o Lender subard�.zaat�ng the �z�n t�thrs S��urzt�Instrument. If Ler�der d�termines�hat any
<br /> part of�he Property �s subject�a a X�en which r.�.ay attain pri�rity aver�h�s Security �ns��rument, L.�nder may gzve
<br /> Borrower a not�ce �denxifying the Iien. Borro�wE�r sha�l sa��sfy�h� lxen or take one or mc�re of�he ac��ans set f�rth
<br /> a�ove vvi�h�n �.�day�of the g�v�ng of nat�ce.
<br /> Hazard or Property Insu�-ance. Bor.�ovver shall�eep�he impro�eme�r��s now exzstxng�}r hereafter erected on-�he
<br /> Prope�-t�insured aga�ns��oss by fire, hazards�nt�Iuded within the�erm �'ex�ended co�era�;��' and any o�her hazards,
<br /> inc�uding flaads �r floodi�g, for wh�ch LendE�r requires insurance. Thzs insuran�e s��all �e ma�ntained in the
<br /> amaun�s and for�h�perrads that Lender requ�re,s. Th� insuranc�carr���-providing th��ns�.ran�e sha�l be chos�n by
<br /> Borrovver subjec� �a Lender's appr��a,i which �?ha�I no� b� unreasona�Iy withh�ld. �f B�orrower fa��s to main��xn
<br /> caverage described a�ave, Lender r�ay, at L�.nd�r's �p�ion, obtain cav�rage to protf��� Lender's rights xn the
<br /> Praper�y in accorda.nce v���h sec�ion titled Protection�f Lender'�R�ghts xn�he Proper��y.
<br /> A�I �nsurance po�xcz�s and renewals shall be accepta��e �� Lend�r and sha�� xnc�ude a �,tandard m�.�rtgage c�ause.
<br /> Lender shal�have the ribht t�h��d�he poiicies,�.n�.ren�wals. If Lex�der requires, B�rravv�r shai�pr�mp�Iy gz�e�o
<br /> Lender a�l re�expts of pa�d prem�u�ns and r�nev��a��.atices. �n th� �ven�:�f��ss, B�rr�wer sha��give prompt�o�ice
<br /> to the insurance�arrzer and Lender.Lender may n�ake pr�of of loss zf n.o�made promp��y by B�rr�wer.
<br /> Unless Lender and Borrawer otherwise agree �n writing, insura.z�ce proceeds sha�l be app�ied �o res��ratran ar
<br /> repa�r of�he Proper-ty damaged, if, �.n Lender's so�e discr��ion, the re��orat�on or repav� is ec�n�mically feasib�e
<br /> and L�nder's secur�ty �s no� �essened. �f, zn Len_der's so�e dzscre�ion, the rest�ra��on or r�pair rs no� econ���ca��y
<br /> f�asible�r Lender`s securxty�ou�d b�lessened,�he i.nsurance pr��eeds sha�I�e applied�t��h.e sums secured�y t���s
<br /> Secur�ty �nstrurnen�, whether or not then due, ��th any �xcess pa�d to �orrower. �#' Borrov�er aban��ns t:he
<br /> Prap�r�y, or does no�answer vvithin the number of�ays prescr�bed by Applicabl�Law a��set far�h in a notxc�fraxn
<br /> Lend�r�� Borrovver tha��h� �nsurance carrzer hs�.s off�red�n settl� a ��a�m, �hen Lender r�ay coi�e�t the insurar�ce
<br /> pro�eeds. Lender may use t�ie pro�eeds tn repair ar restare �he Prope:�ty or to pa� sum.� secured�y�hzs Secur�xty
<br /> �ns�rument,whether or not t�en du�. T�e p�r�od of�ime for Borrov�er to answer as set fox�h in the�a���e w��I beg�n
<br /> when�he no�ice�s given.
<br /> Unless Lender and Borrow�r atherwrse agr�e zn_v�i�ing, any appl�catian of proce�ds�o princrpa� shal�riat ex�end
<br /> or postpone the due da�e �f the paymen�s refe�red ta �n the sect�on �it�ed Paym�nt of�r�nc�pal and I�t�re��;
<br /> Prepayment and La�e Ch�rges or c�ange the amoun��f the p�.ym�n�s. �f und�r�he sec��Yon t�tled Acc��erat�any
<br /> Remed�es, �he Proper�y �s a�quired by Lender, ��rrower's r�gh�to an.� insurance p����zes and proceeds resul��nb
<br /> �rom damage�a the Praper�y prior to the a�quxs��ion shal�pass to Len�[er�o the ex�en�a�E�he sums secured�y t��s
<br /> Secur��y Instrwmen�zmmedxately prx�r ta�he ac9uis��ian.
<br /> Pr�Servat�on, Ma�ntenan�e and Pr�tec�ion af the Property; Ba��row��rs Loan A�pp�ication; Leaseho�ds.
<br /> Barrower sha��not des�roy, damage or�mpa�r��le Property, al�aw the Property�a de�eric�rate, or comum��waste on
<br /> the Praperty. B�rrower sha�l���n defaul��f any f�rfe��ure act�on�r praceed�ng,v�hether civi�or�rir�ina�,�s be�un
<br /> that in Lender's good faxth judgrn�en� c�uld resu.l� rn forfei�ure of�he Properry ar o�her��ise rna�erxally zmpair�he
<br /> I�en created by this Secur�� �nstrum.�n� �r Lend�r's secur�� in�eres�. Borrower may c�zr� such a d�faul� and
<br /> re�nstate, as provided xn sect�on tit�ed �3orrowe:r's Rxgh� to Reinstate, �y causing th� ac�ion or proce�diz�g�� be
<br /> d�srn�ssed vv��h a rui�xa.g�hat, �r�Lender's gofld fa;��h de�ermzna�ron,precIudes forf�zture of the Borrnvver's iza��res�in
<br /> �he Prape�-ty or ��her ma�er�al ��npairmen� �f the Iien��reated by �hx� Security Instrunl�nt or Lender�s secur�ty �
<br /> xn�erest.Borrov�er shall also he in defaul�xf Bor�•�v�er, during the�oan applic�.tion proces;�g gave ma�er�a�ly false or
<br /> rnaccurate information or s�a�ements to Lender� ��r failed �o pr���de Lender with any �nateria� �nformat��n} in
<br /> connec��on wifh �he loan evidenced by the No�te. �f�hrs S��ur��y �ns�rument is on a Is��.sehald, B orrower sh�.�l
<br /> coxnp�y W��h a��the pro�isians of the��ase. Zf Bcarrower a�quires fee ti�]€e�o�he Proper�y,�he�easeho�d and�he f�e
<br /> �it�e sha��na�merge un��ss Lender agrees to the�nerger xn wri�ing.
<br /> Protec��on of �ender's l�ight5 in �h� Prope�•t�. �f B�rrovver �ails to perform the ���venan�s and agr�emex��s
<br /> contained�n�hi� Secur�ty�nstrument, or there is a�ega1 proceed�ng tha�may s�gnif cant�,�affect Lender's rights �n
<br /> the Property �such as a proceedxng in bankrupt��y, probate, f�r condemna�xon or farfei��r� or ta �nforce �a�vs or
<br /> C�2004-2�15 Cvrn�Iiar�ce Syste�-ns,Inc.8C54-C�57-2015.]1.3.ID98
<br /> Cansumer Real Estate-Secu�-ity Instrument DL2036 Page 2 af 6 www.comptiancesystems.con�
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