2� 1 ��4921
<br /> Payr�ent vf PrinCipai and I�tere��; �th�r Charg�s.B�rrower slaa�l pron-�ptly pay when due�he principa�of and
<br /> interes�an�he deb��v�ed under�he Can�rac�and�a�e charges o�any o��er f��s and charg�s due under�h�C�ntrac�.
<br /> Appl�c�b�e L�w. As used �n �h�s Security I�strumen�, the �:erm "A.pplicable Law" shall mEan all con�:roll�ng
<br /> applicable federal, s�a�e and l�ca� statutes, regu�ati��s, ardina�.ces and adr��n�stra�ive rules arid ard�rs ��ha�have
<br /> ��ae effec�of�aw�as well as all�.pplicable�r�a�,n�n--ap�ealable judic�al opin�ons.
<br /> �harg�s; Li�ns. Borro�er shall pay aIl ta�es, assessments, charges, �iries and impa�itions �ttributable �� the
<br /> Prflperty which may at�ain priority o�er�h�s Secur��y �nstrum��n�, and �easehold payments or gr�und rents, if any.
<br /> At the request�f I�ender,Borr��ver sha�l promptly furpis���a LE�nder�eceip�s e�idencing the payrn.ents.
<br /> Barrov�er shall promp�ly discharge any �ien�rh��h has�ri�ri�r over�his Secur�t� �nstru�nen�unless Bflrrav�er: �a}
<br /> agrees in v�rit�ng to the payment of�he obl�gat�an secured �ay the lien i� a manner accep�able t� Lend�r; �b}
<br /> can�ests in gao�. faith �h� lien lby, or defends agains� enfor�e�.en� �f�he lien �n, �egal procee��n�� vvhich in the
<br /> Lender's opinion opera�e �a pr�vent the enforcen�ent of�h� ���en; or ��} secures fr�m the ho�der af t:he lien an
<br /> agreemen�satisfactor��o Lender sub�rdina�ing the lien�o�his Se�urity �ns�rument. Yf Lender determin�s that any
<br /> par�of the Property is subjec��a a lien which may attain pri��ity o��r this Secur�t� �nstrument, Lender ma�g��e
<br /> Borrower a no�i�e �den�ifying�he lien. Bflrrower shall sa�:isfy �he 1�en or take �ne or more af�h� acti�n�s set forth
<br /> abo����thin 1 O days of the g���ng of no�ice.
<br /> Hazard or Pr�pert� Insuran�e. Borrowe�shal��eep the �m��roven�eri�s naw existing�r here�f�er erec�ed�n the
<br /> Praper�y�nsured ag��ns��oss byr f�re,hazards�ncluded wi�hin t�e term "ex�ended c��erage" and any��h�r hazard�,
<br /> �nciud�ng flti�ds or floading, �or �hich Lend�r requires insurance. Th�s insurance s�aX� be maYntai�ed in the
<br /> amoun�s and f�r the perx�ds�hat Lender requires. The insuran�,e carrier pr��iding t�e insurance sha�1 be chosen by
<br /> Borr�vver subj�ct �o �ender's �pprova� vsrh�ch shal� n�� be ur�reasonably w��hheld. If�orrower fai�s �� maintain
<br /> ���erage described ab��e, Leflder m�y, at Ler�der's op�ion, ob�ai� co�verage to pr���ct Lerzder's ri�h�s in the
<br /> Property in accordance�vvi�h secti�n�itled l�ro�ecti�n af Len�+�r's��ghts i�the Proper�y.
<br /> Al� insurance p�licies and�-enewa�s shal� b� acc�p�ab�e �o Le.nder and sha�� in��ude a s�andard mortgage claus�.
<br /> Lender shall ha�e���e r�gh��o hold the polic�es and renewa�s. �f Lender rec�uires, B�rrvwer shall promp�ly gi�e�o
<br /> Lender a1�receipts�f pa�d premiums and renewal�o�ices. �n���e �����t of loss, Borrawer shal��i�e prampt notice
<br /> to�he insuranc�carrier and�en�e�-. Lender rnay rna�e praaf oi��oss if�ao�m�ade pr�mp�i�by Borrower.
<br /> LJn�ess Lender and Borr�v��r atherv�ise �gree in wr�ting,.int;uranc� procee�s sha�1 .be appl�e�. �� resl:orat��n flr
<br /> repair �f�he �roperry damaged, �f, in Lender's sol� discreti�:n, �he r�stor�.�ion ar repa�r is ec�nam�cal�y feas�ble
<br /> and Lender`s security is �»� �esse�ed. If, in Lender's sole d�scre���n, �he restora�x�n�r�-epa�r is not econ��n�cal�y
<br /> feasib�e ar Lender's security w�u�d be Iessened,the�nsurance��r�ceed�shal�be appiied to���st�ms se�ured by th�s
<br /> Secur�ty �nstrumen�, whe�her or na� then due, vvi�h any ex��ess paid �a B�rrower. �F B�rr�wer ab��ndons the
<br /> Prap�r�y, or does n�t ans�er v��thin the number�f da}��prescribed by Appli�able Lav�as set far�h in a n�ot�ce from
<br /> Lender�o Bflrrower that the �nsurance carrier has offered to s�ttle a c�aim, then Lender ma}�����ect th� �nsurance
<br /> pr�ceeds. Lender may use �he proceeds �o repa�r or restor•� t��e �r��erty ar�o pay sur��s secur�d by�his Security
<br /> �nstrumen�,whe�her or na��hen due.The period oftime for B�rra�re�r�o ansv�er as set far�h in�he notice Wii1 begin
<br /> when��e no�ice zs g�ven.
<br /> Unless Lender and�3orrov�er a�herwise agree in wr�tin�, any E�,pp�ica�ion of pr��eeds�a pr�nci�ai shall not extend
<br /> or pos�pone th� due date of�he paymen�s due under�he Con�ra�t or char�g��he amount�f the payments. �f under
<br /> �he sec�ian titled Acceleratian� Remedies, �he Pr�per�y is ac+�uired by Lender, �orrower's r�g�t�o any �nsurance
<br /> palicies and pr�ceeds resul��ng fr�m dam�.ge to �he Proper�y pr��r �o �he acyuisition shail pass to Lend�r to the
<br /> ex�ent af�he surns se�ured by 1�h�s Securi�:y Instrument immed�{�t��y pr�or to�he acquisi�ion.
<br /> P�rese�-�ation, 11�Iai��ena�ce �nc� pr�tec�ion �f the 17rv��rty9 l�arr�vwer's Loan Applicatinn; Leas�holds.
<br /> B�rrower shal�na�destr�y, damage�r��npair�he Pr�per�y, a11�w�he Proper�y ta deter�orate, c�r comm�t�vaste an
<br /> �he Property.Borro�ver sh��l��zn defau�t xf any f�rfe��ure acti�n ar pr�ceeding,whe�her civi�o��riminal,�s hegun
<br /> �hat in Lender's g�od fai�h judgment c�uld resu�� �r� f�rfeiturFa of�he Prop�rty �r �ther�wise materi�.�ly �mpa�r the
<br /> �ien crea�ed �y t�is Security �ns�rumen� �r Lender's se�urity �nteres�. Borr�wer may cure such a d'�efaul� and
<br /> re�ns�ate, as pro�ided in s�ction�i��ed Borrawer's R�ght to ���ins�a�e, by causing�the �cti�n or proc�eding��be
<br /> dismissed vvi�h a rul�ng���at, ��Lender's g��d fai�h de�erm�na�=��n,pre�ludes forfeiture o��he Bc�rrower's in��res��n
<br /> the Prope�-ty �r a�her material �mpa�rm�n� �f�he l�en crea���d by �this Securi�y �nstrum.en� o� Lender's seeurifiy
<br /> interes�.Barrov�er shall a�sa be�n default if�3orr�wer,during��he�oan applica�ian pr�cess,gav�ma�erially�alse ar
<br /> inaccu�ate infarmation �r sta�Ements to Lender ��r fai�ed. t� provide Lender �vi�h any material information} �n
<br /> c�nnection with�he loan e��de�ced by the �ont�ac�. �f�his Sc�curi� �nstrumen� is an a leaseh��d, Barrow�r sha�l
<br /> c�mp�y���th all the pr���s�ons af�h� lease. If B�rro�nrer acquires fee�itle���he Property,�he�easehold and�he fee
<br /> ��tle shali no�merge unless L�nder agrees�o�he merger�n�ri�ing.
<br /> Pro�ect�an �f Lender's ��gh�s �n �he �roper��. �f Barrov��er fails �o perform the �ovenants and i��reements
<br /> con�ained in�h�s Security�ns�ru��nent, or there is a�egal proceeding�ha�may s�gn�f�can��y af.fec�Lender's r�gh�s in
<br /> the Proper�y �such as a pra�eedi�g �n bankrup�cy, pro�ate, fcar con�emna��an or forf��ture or t� �nfarce lav�s or
<br /> regulations}, �then Lender may do and p�� far v�hatever �s �necessary ta protec� �he value o��he Pr�oper�y and
<br /> Lend�r's righ�s in the Proper�y. Lender's ac�ions�nay�nclude��ay�r�g an�sums secured by a�ien which rias priori�y
<br /> over�his Se�urity Instrum�nt, appearing in cour�,paying reas��nable at�torn�ys'fe�s and�ntering on the lProp�r�y�o
<br /> make repa�rs.Although Lender may take ac���ri under�h�s section,L�nder does n�t ha�e t�d�so.
<br /> Any amour��s dxsbursed by Le��der under �h�s s�c�ion shall b��arr�e additianal debt of B�rrov�er secu��ed �by �his
<br /> Securi�y �nstrum.ent. Unless Borrav�er and Lender agree �o a�her �erms of paym�nt, these amounts sha�l bear
<br /> C�2a�4-20�5 Compiiance Systems,�r�c.$C54-D526-2a15,11,3,1�98
<br /> Consunier 1'�eal Estate-Se�urity Instr�ament DL203G Pa;e 2 c�f 5 www.camp�iancesystems.carn
<br />
|