2� 1 ��4535
<br /> cavered by �h�s Security �ns�rum�:n�. AI� �f �he forego�ng is referred to in this Security Instrument as the
<br /> „praper�y."
<br /> B�RR��1LrrER���IENANTS that�3orr�wer is �awful�y s�eised af�he estate hereby�+�r�veyed and has �he right�o
<br /> gran� an� conv��y �he Praperty ax�d tha� �he Praperty is unencumbered, excep� fc3r encumbrances of record.
<br /> Borravver�warra:n�s arid�vi�� defend generally �he �i�Ie to the Frope7�ty aga�nst a�l clai.m.s and demands, sub�ec��o
<br /> any encun2brances of r�card.
<br /> Borrotiver�r�d L��nder cnvenan�and�gree as fo�l��vs:
<br /> Payment��f Pr�:nc�pal and In�eres�t; �ther�h�rg�s.B�r-rower sha��prornptly pa�uTh�n due�he pr�ncipa��f and
<br /> in�eres�on�he d��t avve�l under�he�Contract and Ia�e�harges ar any other fees ar�d ch��rges due under�he�or��ract.
<br /> Applicab�e Lativ. As used i.n. thzs 5ecurzty �ns�rume�.�, the �erm "App��cab�e Law" �ha�� mean a�1 con�rol�ing
<br /> appli�ahle federal, s�a�e and local ��a.tu�es, regu�a���ns, a�d�..nances �.nd admi�.s�ra�iv�: ru�es and orders ��hat have
<br /> �he effec�flf 1a�}as vvell a�all appli.�able final,non-�appea�ab�e judiGial opinions.
<br /> Charges; Liens:. Borrnwer sha�I p�ay a�� taxes, assessmen�s, char�es, �nes and impositions at�ributa.b�e �a the
<br /> Proper�r vvh�ch .-�ay a��ain priority�over�his 5ecur�ty�ns�rumen�, and Ieasehnld pa�rrn�ents or ground ren�s, if any.
<br /> �4��he request a��Lender��orrnwer shal�prornptly furnish�o L�nder receip�s evidenc���g�he payments.
<br /> Borrower sha1� ��ramp�ly d�scharge any�ien vvh��h has pr��rzty over�his 5�currty Instrument ur��ess Borrovu�r: �a}
<br /> agrees in writin,g to the paymen� ��f�he abliga�ion secured by �� �ien in a manner acceptable to Lender; �b}
<br /> contes�s irn good. fa��h �h.e li�n by, �r defends agains� enforcemen� af�he �ien �n, Ieg;al proceedings which in �he
<br /> Lender's opin�o�� apera�� to prever��� the enfare�men� of the l�en; ar �c} secures fr�:m �h� hoXder �f�he �xen an
<br /> agreement satisf�.ctary�a Lender su�ordinating the ��en�o �h�s Securi�y xns�rument. If`Lender�e�ermines th�.t any
<br /> part of�he Prop+�rty is su�jec�to a �ien which may attain priority o�ver �his Secur��ty�r�str�xnen�, Lender may give
<br /> Borrower�.natire identifying th� ��en. Borrower shall satisfy�he �i�n or take one �r rn�re �f�he actions set fflr�h
<br /> above wi�hin 1�days of�he g�v�ng�f not�ce.
<br /> Ha�ard o��Prfl��ert�Insuran�e. B�rrov�rer sha��keep �he impro�emen�s now ex�stzn�� or�ereafter ere�ted�n the
<br /> Propert��nsured aga�nst�oss by f�re,hazards�ncluded vvi�in the�er�n."extended cove:rage" and any other hazards,
<br /> including floo�s or flo�d�ng, for ��hich Lender require� insu.ranc,�. Th�is �nstu ance sha11 be ma�ntaxned in �he
<br /> amaunts a�1d for the p�riods that Le�ader requ�res. The�nsurance car�-ier providing�he:insuran�e shal�be chos�n by
<br /> Borravver sub�ec.t t� Lender's appr�va� vvhic�i shall not be unreaso�ably vvithhe�d. I�`Barr�wer fails �a mazntain
<br /> caverage descril�ed abv v�, Lender may, at Lender's opt��n, �b�ain coverage to pr��ec� Lender's r�ghts in the
<br /> Proper�y in acco:rdance��th sectivn titled Protec�ion.of I�ender's Rights in the Prop�x°�y.
<br /> AlI insuranc� pa3��cies and renewa�� sha11 be ac�eptable t� Lender and sha�l inc�ude a standard mortgage c�ause.
<br /> I�endear sh�1�ha��e �he r��h�to hold�h�policie� �nd renevSra.Is. If Lender requires,Bor��a�ver sha�I prompt�y gi�re�a
<br /> Lender ail re�e���ts of paid premium�s and renetiv��not�ces. In�he ev�nt of lass, Borro�►uer��.all g�ve pr�rnpt n�t�ce
<br /> �o the insu.rance��arr�er and Lender.�.ender m.ay make pr��f�f�oss if not made prompt��by�3 orrov�rer.
<br /> Unle�s Le�zder a.nd B�rrower otherwzse agree in writing, insuranc� proceeds shall be applied to res�oration �r
<br /> repair of�.e Frcaper�y damaged, if, �n Lender's sole d�scre��on, the r�s�oratian or rep�aiat is ecanornicaX�y feasibie
<br /> and Lender's securi�r is n�t lessened. If, in Lender's so�e d�scre�ion, the res�oration or repair is not econam�cally
<br /> feasible or Lend�:r's secu�-��y would��e�essened,�he�nsurance�rflceed�shall be app��ec���the sums secured by th�s
<br /> Security �nstrurr�en�, whether ar n�t then due, �rrth any excess paid �o B�rrov�rer. If Barrov�r�r abandans �he
<br /> Property, or d�e�not answ�r w�thin the number af days prescribed by Applicabl�Law as set forth in a notice from
<br /> L�nder t� Borro,�ver that the ��surance carrier has �ffered�o set�le a claim, �hen Len.d�ur rnay col�ect the insuran�e
<br /> proceeds. �ende:r may u�e �he pr�c�eds to repair tir restore �he Prti.perty ar�o pay su.ms secured by�his Securi�y
<br /> Ins�rument,vvhether or no��h.en due. The peri�d Qf t�me for Borrawe�r tfl answer as set:�orth�n the no�ice vvz�X begin
<br /> �vhen�he natice i.s given.
<br /> Un�ess Lender a�zd Borrower atherv��zse agree �n writ�ng, any app�ica��on of proceeds�to principal shall not e�tend
<br /> or p o�tp one the ciue date of the payrnents due under the Cflntxact or change�he amou��t o f the payments. If t�.nder
<br /> �he sec�ian�titled Ac�eler��ion; Remed�es, �h�Pr�per�y�� acquired by Lender, Borr���wer`s right�a any��surance
<br /> pol�c�e� and pro+:eeds re�ul��ng frarn damage to the Property przor �o the acquisi�ion shal� pass �o Lender t� the
<br /> ex�ent�f�he sum�s secured by th.is S��cur�ty Ins�rumen�irnme�iately pr�or�a the acquisi�:�on.
<br /> Preservatian, �Zaintenance and �Prot�ct�o� of the Property; FSQrrower�5 Loan Applica��on; Leaseholds,
<br /> Borravver 5ha11 nat destx�y, damage nr impazr�he Proper�y, a�Iaw�he Prop�r�y to de�e.ri�ra�e, or comm�t,was�e an
<br /> �he Property. Ba�-ravver s��a��be in d�fauit if a�zy forfei�ure act��n or proceeding,v�hether civi�or crim�na�,�s begun
<br /> that in Lender's ;�aod fai�h judgment cou�d resu�t in forfei�ure af thp Pr�per�y �r ath�.z-�vise materially impair the
<br /> lien crea�ed by �his Secur�ty Instrt,�men� ar Le�der's securi�y �nteres�. Borrower m��y cure such a defau�� and
<br /> r�instate, as prv�rided in sec�ion titl�:d Borro�v�r's Right to Reinstate, by causing�h�; act�an�r pr�ceeding�o be
<br /> dismzssed�vxth a ru�ing that, zn Ler�d�r's gaod fa��h d�term�na�ion,pr�cludes farfeiture�f the Borrov�rer's zn�erest in
<br /> the Pr�per�y or �ther ma�er�al impairmen� of�he I�en crea�ed by i:h�s Secur��y �ns�rument ar Lender's secur�ty
<br /> �n�erest.Barrotiv�:r shall als�be in d�fault if B�rrawer,dur�ng the Ioan app�ica��on proc�ss, ga�e mater�a�Iy fa�se or
<br /> inaccurate inforr.�a��an or s�atements to Lender �ar fai�ed �o provide Lender w�th a��y ma�erial zn.formatio�.} in
<br /> connection with��he loan evidenced�y the Cantract. If th�s Security�ns�rument �s �n a Ieaseh�Id, Borrower sha��
<br /> camp�y with a��t:h�pr�viszons of�h�Iease. If Btirrovver acquir�s fee�itle�o th�Proper��y,�he leasehold and�h�f�e
<br /> �i��e shall not me�•ge un�e5s Lender a��rees�a t�e r�erger in�rr�ting.
<br /> Protec�i�n of L�nder's ]E�ights in thQ Property. �f Ba�oW�r fa��s ta perform �he �ovenants and agreements
<br /> can�a�ned in this Security�nstrumen�, or there xs a�ega�praceed�n�that may significa�z�Iy affect Lender's righ�s �n
<br /> �204424I 5 Cvmpdiance S��stesns,Inc.$C54-2B�3-24I5.1 I,3.1Q98
<br /> �ansumer Rea1 Estate-Se�iirity Tnstrume�#DL203d Pa�e 2 of 5 wv►�w.compIian�esystems.cam
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