2� 1 ��53�5
<br /> P�ymenf of 1'r�ncipal and Interest; ��h��-�harg�s. B�rrower sha�l prarn:ptly pay v�hen due�he princ�pal of and
<br /> interest�n�he debt ov�ed under the��n�rac�ar�d�at�charges or any��her fFes and charges due unde��h�Contract.
<br /> Applicahle Lav�. As used �n this Security In��rument, the �er�n "Applicable Lavv�' shall mean al� cont�ol�ing
<br /> applicable fede�-a1, s�a�e and �ocal statu�es, regula�ions, ordinances amd �d�m�nistra�ive rules and ort�ers �that have
<br /> �he effect af 1aw�as vvell as a�l appl�cable�nal,n�n--appea��ble judicial��ir.iions.
<br /> �harges; Liens. Bflrro�rer sha�� pay aIl taxes, assessmen�s, charges, fines and impos��i��s �t�r�bu�a�le �� the
<br /> P��per�y vvhich may at�ain pr�ority �ver th�s S�cur��y �nstrumen�, an� leaseho�d pay�ien�s or gr�und ren�s, �f any.
<br /> A��he reques��f Lender,Borrov�er shal�prar�pt�y f�rnish t�L�nder re�e�p�s e�v�denc�ng�he pay�nen�s.
<br /> Borr��ver sha�l promp�ly d�s�harge any �ien w�i�h has pr�ority over this Se�urity Ins�rumen�u��ess Borrov�er: �a�
<br /> agrees in writing ta �he payment of the obligat�on secured by �he l�en ��� a manner accep�able to Lender; (b}
<br /> c�n�ests �n good faith �he lien by, or defends against enfor�ernen� of�he ���n �n, Iegal praceedings which �n�he
<br /> L�nder's opini�n �pera�e �o pre�en� the e�f�rc�men� of�the 1ien; or ��} secures fram �h� h�lder of��e lien an
<br /> agreemen� sa�isfactory�� Lender subordina�ing the ��en to this Security�nst�urnen�. �f Lender de�ermines�ha� any
<br /> par��f the Prapert� �s �ubjec�to a �ien which m�.y a��ain priority o�er this Secur�fiy �nstrumen� Lender may gi�e
<br /> �3orrav�er a no�ice iden�ifying the �ien. Borr��er sha�l satisfy�he ��en �r take one flr more �f the ac��ans se� forth
<br /> a�o�e wi�hin 10 days of�he giv�ng of n��ic�. .
<br /> Hazard or Pr�perty Insurance. BorrQwer shal�ke�p�h� impro�ements now ex�s���g or hereafter erec�ed on�he
<br /> Property�nsured a�ains���ss by fre,ha�ards��cluded w��hin the�erm "e�t�nded coverage" and any ather hazards,
<br /> ��c�uding floods or flaading, far which Lender requires �nsurance. This xnsurance shali be maintained zn �he
<br /> am�un�s and for the per�ads tha�Lender requires. The insurance carrier providin�the insurance shall be ch�sen by
<br /> B�rrovver su�je�t to Lender's appraval vvhich sha�l not be u�reasonabl� vvithhe�d. �f�orrowe� fai�s to rr�a�.��ain
<br /> c��erage descr�bed above,�Lender may, a� Lender's opt�on, ob�air� coverage �o p�otec� Lender's rights in the
<br /> Proper�y in accardance w��h s�cti�n�itled I�r��ection❑f Lend�r'�R�ghts���the Proper�y.
<br /> A�I insurance pol�c�es and renevvals sha�l be accep�able to Lender and sha�l� �nclude a standard mor�gage �lause.
<br /> Lender shall have�he r�ght to h�ld���e po�i�ies a�d rene�v�rals. I�Lender re�u�res, B�rrovver shal�promptly gi�re��
<br /> Lender all rece�p�s of paid prem�ums and r�nev�al no�ices. �n�he ev�nt of l�ss, Barrovver sha�l�ive promp�noti�e
<br /> �o�he�nsurance carr�er and L�nder.Lender may xnake pro�f of�oss i�no�m�de promptly by Borrower.
<br /> Un�ess Lender and Borrower otherwise agr�e i� v�rr��ing, insuran�e proceeds sha�l be appl�ed�to restora�ion �r
<br /> repa�r �f the P�-�pert� darnag�d, �f, in Lender's s�le discretion, the restara.��on or repa� �s ecanomical�y f�as�b�e
<br /> and Lender's secur��.y is nat lessened. �f, ir� Lender's sole discre�ion, the r�s�arat�on �r repa�r is nat econflm��al�y
<br /> feas�ble ar Lender's security wou�d b�lessened,the insurance proceeds shal�be applied t��he sums secu�ed by�his
<br /> Security Yns�ru�nen�, �vhe�her or n�t �hen due, v��th any excess pa�d �a Borrovver: If Borro�ver abandt�ns �he
<br /> Pr�pert}�,or do�s not answer v�ithin the nur�ber af�ays prescr�bed�y App��cable Lav�as se�for�h in a notice firom
<br /> Lender t� Borr�wer�hat�he �nsurance carrier has affered�o s�t�le a claim,then Lender may c��1ec�the insurance
<br /> proce�ds. Lender may use �he proceeds t� repai�- or res��re the Pro�erty o�r�a pay sums secured by �h�s Secur�ty
<br /> �nstrument,whether or no��hen due.The p�r�od of t�me far B�rrawer tfl an�wer as set far�h�n th�natice will hegin
<br /> when�he no��ce is�i�en.
<br /> Unless Lender�.nd Borrower o�herv��se agree in wri�ing, any applic�ti�n��E proceeds�to princi�aal shall not ex�end
<br /> or postpone�he du� da�e of the paymen�s du� u�der the Contrac�or ch�.�g�the amou.n�af�he�aymen�s. �f under
<br /> �he section t���ed Acce�era�ion; Remedi�s, t�e Prapert�y is acquired by Lender, Borrav�er's right�o any �nsurance
<br /> po�icies and proceeds resul��ng from damage to �he PrQper�y prior t� t�e acqu.is�tiori sha1� pass �a Le�der �o �he
<br /> extent of t�he su�ns secured by th�s Securi�y�nstrumen�irnmedia�ely p�-ior�o�he acquisit��n.
<br /> Preservation, Ma�nter�ance and Pr�te��ia� �f the Prop�rty; �orr�v��QrrS Loa� .,A�ppl�ca�ion; L�a��h�lds.
<br /> Borrower sha�l nat des�ro�, damage�r impa�r th�Propex-ty, a���w the Property t� de�eri�rate, ��comm��wa.s�e tin
<br /> �he PrQper�y.B�rrovsrer sha�l be in default if any forfeiture a�t��n ar praceed�ng,whe�her ci�i�or cr�m�na�,is begun
<br /> tha� in Lender's go�d fai�h judgmen� cou�d resul� ir� farfei�ure �f�h� Pr�p�er�y or o�he�-�v�se md�eria�ly �mpair�he
<br /> Ii�n created by th�s Securit� �nstrumen� ar Lender's secUr�tg� �n�erest. B�orrower may cure such a default and
<br /> reinstate, as provided in section�i�ied Bar�•ow��-'s R�gh� to �einst�t�, by caus�ng�he ac��on ar pr�ce�ding t�be
<br /> d�smissed��th a ruling tha�, �n Lender's go�d�`ai�h determ�nati�n,pr�clude��forfe��ure of the Borrawer's in�eres��n
<br /> �he Prvpert� or other ma�er�a� �mpa�rment af the I�en �rea�ed �y th�s Securi�y Ynstru�ment or Lender's security
<br /> �nterest.Barr�v�rer shal�a�so be in defaul��f Bo�-ravver,dur�ng�he Ioan app��ca�ivn pro�ess,gave ma�eria��y�'alse or
<br /> inaccurate info�ma��on or s�a�emen�s �� Lender (or failed �� pr��id� Len�der wi�h an� mater�a� inf�rma�ian} in
<br /> cannection v�ith the �aan evidenc�d b�the ��n�ract. �f th�s Secu.ri�y ��stru:men� is an a leaseh4ld, Borr�wer sha��
<br /> ��mp�y w���all the pr��is�ons of�he�ease. �f B�rrovr�er a�quires fee�it�e to the pr�perty,�he 1e�sehold�.nd�he fee
<br /> �it�e sha1�not merge unless Lender agrees to th�merger in�riting.
<br /> Protectian nf Lender'� Rights in th� Property. If�3�rr�v�rer fai�s �o p�erform �he covenan�s and agreements
<br /> �on�ained in this Securi��rnstrument, ar there �s a lega�prace�ding�ha�m�.y signif�ant�y affe��Lender's r�ghts in
<br /> �he Proper�y �such as a pr�ceeding �n bankruptcy, proba�e, �or ��ndemna�cion or forfeiture �r to enf�r�e l�.ws flr
<br /> regu�a�i�ns�, �hen Lender may d� and �ay for vvhatever is nec�ssary �o pr�tec� �he va�ue of the Property and
<br /> Lender's righ�s in�he Proper�y. Lender's act�ons may in��ude paying any su�rns secured by a��en wh��h has prior��}r
<br /> o�er�his Security Ins�rument, app�ar�ng in cour�,paying reas�nable�.t�arneys'fees and en�ering on�he Property to
<br /> make repairs.A�thaugh Lender may take ac���n under�his sectinn,Lender does not ha�e�a do so.
<br /> Any amounts disbursed by Lender under �h�s s�c��on sha�l become additi+�nal debt of BQrro�er s�cured �y �h�s
<br /> Security �nsfirument. Un�ess Borrovver and Lender agree t� other �ern-�s �f payment, these am�unts sh�Il bear
<br /> o aaa4-zfl�s c���������sy5t���,r��.scs.�-�nss-�o�5.��.�.�a�s
<br /> Cansurrter Rea1 Estate-Security Instru�nent DL2436 Page 2 of 5 www.compliancesystems,cozn
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