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2� 1 ��4789
<br /> P�yment of Princ�pa�and�[nteres�; flthe�Charges.Bflrro�er sha�X pr�mpt�y pay u�hen due�he princ�pa�of and
<br /> �n�eres�on�he deb�owed under the�ontra��and�ate charges or any��her f�es and charges due under th���ontract.
<br /> Applicab�e Law. A,.s used �.n this Secur�� �nstrument, the �:erm "App�icable Lavv" sha�� mean aII c,�n�rolling
<br /> appXicable federal, s�a�e and 1ara� statu�es, re�u�a��ons, ordinanc�s a�ad adm�nis�ra�i�re rul�s and arders ��hat have
<br /> the eff�ct of 1a�v�as wel�as al���pplzcab�e�na�,n�n-appealabl��judicial op�nions.
<br /> Charg�s, I1�ens. Barro�ver sha�X pay alI taxe�, assessments, charges, fines and impasi��ons a�tx�bu�able �o the
<br /> Prop�rty�hich may a��a�n priorri�y aver�his Se�urity�ns�rum�.nt, an�i leaseho�d paymen�s or gr�und re�its, if any.
<br /> At�he request af Lender,Borro�er shal�prompti��r furnish to L�nder�ec�ipts ev�dencing the pa�rnents.
<br /> Bflrrawer shall promptly disCharge any�ier�vvhich has priorrt}��ver�h�s Security�nstrument un�ess B���rower: �a}
<br /> agrees in writ�ng �o �he pa�men� �f�he ob�igati�n se�ured ]�y ��e ��en �n a ma�er accep�able �o Lender; (b}
<br /> con�ests �n gaod fa�th the �i�n �y, ar defends against enforce men� �f�he lien in, Iegal proceed�ngs v�r��ich in �he
<br /> Lender¢s opi.n�on �pera�e to pr�vent the enforcement of�he :�ien; or �c) secures from the holder of t�he ��en an
<br /> agreement satisfactory to Lender su�bordina�ing the ��en to thxs S�curity�nstrument. �f Lender de�ez�.�n�:s�ha�any
<br /> par��f�he Proper�y is subj ec�ta a li�n vvh�ch may a��ain pr�a r�ty ov�r this Se�urity�ns�rumen�, Lender may g��e
<br /> Borro�ver a natice identifying t��e Iien. Bo�ower sha1� sa�isfy the �ien or take tine or mflre of the ac�ior�.s set forth
<br /> above Within I�days of the giving of n��ic�.
<br /> Hazard or Property In�urance. Btirrower shali keep �he im��rovements novv existing or hereaf�er erec�ed�n the
<br /> Prtiper�y insured against�ass by fire,hazards included vv��h�n�:::�e�erm"extended coverage" and any flthE�r hazards,
<br /> �ncludua.g f�oods or flood�ng, for v�rhzch Lend�r requires insurance. Th�s insurance shaXl be ma�n�ai�led in the
<br /> amounts and f�r�h�periads tha�t Lender requires. The insuranc�carrzer pr�viding the�nsurance sha��be chflsen by
<br /> Borro�vver subjec� to Lenderps approva� v�rhich sha�� no� be unreason�.l�Iy vvithheld. �f Borrovirer fails �c� maintazn
<br /> caverage d�scr�bed above, Lender znay, �.t Lender's op��on, ob�ain c�verage tQ pr�tect Lender's ri�h�s in �he
<br /> Prop�rty�ri accordance�vi�h secti�n���led Protec�ion vf Lend��r's Ri�hts in the Pr�per�y.
<br /> A�� insurance po�zcies and r�newa�s shail be acceptab�e t� Lender amd shall include a standard maz�ga.ge ��aus�.
<br /> Lender sha��have the righ�t�h�nld the po�xcies and renewals. ::f Lend�r requires,Barr�v�rer sha�l promp�tly gzve to
<br /> � Lender a�I receip�s of paid premit�ms and r�nevva�not��es. �n�he event of loss, Borravver shal�g�ve pro�mp�not�ce
<br /> �o�he insurance carrier and Len�ler.Lender may make proflf�f�l��s i�not made prompt�y by B orraWer.
<br /> Unless Lender and Borro�rer �thervt��se agree �n wri�ing, insurance proceeds shal� be app�ied to res�oratzon or
<br /> repair ❑f the Proper�y damage�., zf, �n L,ender's so�e discre�ia��, the r�storatxan �r repa�r �s economical��y feasibl�
<br /> and Le�der's se�uri�y is not Ies:�ened. �f, �n Lender's so�e d�sc retion, �he restora�ion or repair rs nat ecc�namically
<br /> feaszb�e ar L,�nder's securi�y wo�.�d be�essened,�he�nsurance��r�ceeds shall be appl�ed�o the sums secu��ed by�h�s
<br /> Secu.rity Ins�rumen�, whether ur n4� then due, vvith any ex�.ess paid �o Borrovver. If Borra�ver aband�ns �he
<br /> Pr�perfiy, or d�e�r�o�ansvver wi�hin�he number af days prescribed by Applica�ble Law as se�forth in a notice frQm
<br /> Lender to Borrower�ha�the insurance carrier has off�red�to s�.�tle a�laim, then Lender rnay co�Iect the insurance
<br /> proceeds. Lend�r may us��he proceeds to repa�r ar restore t�e Pr�p�rt�r or�o pay surns secw-ed by thi.s Securi�y
<br /> �nstrumen�,Wh�ther�r n���en due. Th�period of time fflr Bo:�rawer to ansyver as set f4rth in�h�notice wi�l begin
<br /> When the natice is given.
<br /> Un�ess Lender and Borraurer o�herw�se agr�� i�xa.writing, any a.pplica��on of proceeds to principal sh�.11��ot ex�end
<br /> or postpone�he due da�e of�he paymen�s due under the �on�ract or�hange �h� amaunt�f the payment.�. If under
<br /> �th� sec�ion�i�le�.Ac�e��rat�vn; Remedies, �he Proper�y�s acc�uired by Lender, Barrow�rts right�o any insurance
<br /> policies and proceeds result�ng fram dam�.g� �o th.e Propert�y pr�or �o �he ac�u�.sit�on shal� pas� �o Len.der t� the
<br /> ex�ent of the sums secured by this Security Znstrumen��rnmedia.tely prior t�the acquisitiian.
<br /> Preservat�on, �Vlai.�atenarnce and Prote��ion af the Prvpe�-ty; ��rrower's Loan Application; LF:aseho�d�.
<br /> Borrower shal� not des�roy, damage or�mpair the Property, al]�vv th�Property�� deterzorate, ar commi�t was�e on
<br /> the Proper�y.B�rrower sha��be zn default if any f�rfei�ure ac�it�n ar proceed�ng,vvhether civil ar criminal,�s�be�un
<br /> tha�in Lender's go�d fazth j�dg-men� �ould resui�in forfe�ture flf�he Property or o�herwise ma�erially:impair �h�
<br /> �ieri crea�ed by this Security ���strument �r Ler�der's securit3T interest. Borravver may cure such a d��fau1� and
<br /> reinstate, as pr�vided �n sec��on�i�led�or�ower's Right to R ein�tat�, by causing the act�nn ar pro�eed�ng�o be
<br /> dismissed�vith a ru�ing that, in I,ender's gaod fa�th de�ermina��+�n,pr�c�ud�s forfeztur�of the Borrotiver's interes�in
<br /> the Pr�perty or o�her material impairment of the lien crea�e�� by �his Secur��y Instrument or Len�er's se�uri�ty
<br /> interest.Barrower shall also be:in default if Borrower,durzng�::ze I�an applica�ion process,gave mater�a��y false or
<br /> xnaccur�te �nf�rmati�n �r st.�.te�-nen�s �o Lender �or failed �o prov�de L�nder vvi�h any material inforrna�ion} i�t�.
<br /> conne�tion w��h the laan evi�der��ced�by the �on�r�.ct. �f this Security �ns�rument is �n a Ieasehold, B�rr4awer shal�
<br /> comp�y v�ith a���he prov�sions�f�he�ease. �f B�rrower acqu�r��s fee�itle t��he Property,the Iea�eho�d a:nd�he fee
<br /> tx�le sha�l no�merge unless L�nd.er agrees to�he merger in wri�i�.g.
<br /> Protec�ian af L�nder's l�ight� �n th� Propertya �f B�rrovver fails to p�rform �he covenants and a;�reements
<br /> contain�d in�h�s S�curity Instrument, or there xs a�egal pro�e��d�ng�hat may significan�ly affect Lender's rights in
<br /> �he Property (such as a procee�L�ng �n ban�rup�cy, pr�bate, far condemna�ion or forfeiture or t� enfor�.e laws or
<br /> regula�iQns}, then Lender may do and pay for �rhat�ver is n ecessary �� pr��ect the va�ue of��ie Prti�per�y and
<br /> Lender's r�ghts in�he Property. ]:�ender's ac�xons may include pt�ying ar�y sums secured by a Iien v�rhich h��s pr��rzty
<br /> over thas Secur��y Instrument, a�pearing i.r�.caurt,paying reasoa�able a�torneys'fees and entering on the Praperty�o
<br /> make repairs.Al�hough Lender may�ake ac��on ux�der�his sec�ion,Lender does na�have to��s�.
<br /> Any amoun�s disbursed by Lender under �his sect�on sha�I become add�tional deb� of Borraw�r securc�d by th�s
<br /> 5ecurity rns�rument. Unless B�rrovver and Lender agree �❑ +��her t�rms af payment, these arnoun�s ��ha�� bear
<br /> C�20�4-2415 C�mpliance 5ystems,In�.8C54-9E5A•�2415,t 1,3,1498
<br /> Cansumer Real Estate-Security Instrument DL2�35 Pa�e 2 flf 5 www.carnpli�incesystems.com
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