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2� 1 ���328
<br /> Payment�f Pr�ncipa�and Interes�; �ther�harges.B�rrova�r shall prflmp��y pay u�h�n due�he pri�.c�pai of and
<br /> int�rest on the debti flured under the Can�ract a��late charges��r any atl�er fees and charges due under�he��nt�ac�.
<br /> .A�pplicah�e Law. As used in �h�s Secur�ty �ns�ru.men�, th� term "�ppl�cable Lativ" shall muan a�I �on�ra��ua.�
<br /> applicable fed�raT, state and loca� s�atutes, re�uTat�ons, ardin��nces and adminis�rat�ve ru�es and orders �tha�have
<br /> the�ffect of law}as v�e�l as al�applrcable f na�,nan-appea�able�u����al opin�ons.
<br /> �harges; L�ens. Borro�rer shall pay a�l taxes, assessments., charges, fznes and �xnp�sz�zans attxibut�.ble �� the
<br /> Propert�which may at�ain pri�rity ouer this �ecuri�y�nstrum�nt, and leas�h�ld payments or gr�und rents, if any.
<br /> At the r�ques�of Lender,�orrov�rer sha��pro�pt�y furnish to L,�nder receip�s evidenc�ng the pay�men�s.
<br /> Borro�uer shal�promptly d�scharge any��en whi�ch has pr�or�t�ov�r this 5�curity In�trument unless B�rr�wer: �a�
<br /> agrees in wr�ting tio the paymen� of th� obliga�ion secured by �h� �ien �r� a manner accep�able to Lender; �b}
<br /> cantes�s �n good fa��h �he Iien by, or defends a�a�nst enforc�,ment of the Izen �n, legal praceedings w�ich in the
<br /> Lender's opinion operate to pre�en� the enforcernen� of�he �ien; �r �c� �ecures from the ho�der of the lien an �
<br /> agreement sa�isfac�or�ta Lender su�ordi.n.a�ing the �ien�o �hi.� 5ecur��y�n��ru�men�. If Lender d�termin�s�hat any
<br /> part of the Property �s subj ec� to a �zen,which may at�ain pri��rity o�ver �hi� Security Instrument, Lender ma� gxue
<br /> Borr�,wer a n��iCe �d�ntify�ng the�ien. Barro�irer shall sat�sfy the Iien or take�ne or m�re of��ze ac��ous se� for�h
<br /> ab�ve tivithin 1�days�f�he g�vzng nf natic�.
<br /> Ha�ard �r Property Insuran�e, Bor-rawer sha�I J�eep �he zmpravements now e�is�ing�r hereafter erecJ�ed on the
<br /> Property insured aga�ns���ss b�fire,hazards included with�n��he�er�n"ext�nded coverage" and any fl�hLr hazards,
<br /> zncl�.ding floads or f�ood�ng, for which L�nder requires in.�urar�c�. This �nsurance sha1l be main�ained in �he
<br /> amoun�s and for the periods tha�Lend�r r�quires. The insuran��e c�.rrier praviding�he insurance shal�be chflsen by
<br /> B�rrovver sub�ec� t� Lender's appro�ra� v�hic� sha�l not be u��reasfl�.�.bly w��hheld. If Borro�ver fails �o main�ain
<br /> c�v�rage �.escribed above, Lend�r may, at �,ender's aption., flbta�� c�verage �o prot�ct Lender's ri��h�s in �he
<br /> Proper�y xn accordance�vith section�itled Pr��ect�an of Lender��Rights in the Pr�perty.
<br /> AX� �nsurance po�icies and renevva�s shall be acceptab�e �o L��nder and sha�� �nc�ude a s�andar� m�r�g��ge ciause.
<br /> L�nder shall ha�re the right to hold th.�palicies and rene�ra�s. �f Lender requir�s, Borro�rer shail prorn�tl�g�ve to
<br /> Len�er alI receipts flf pa�d premiums and rene�a�notices. In�he �v�r���f lass, Borr��ver sha�1 give promp�t natice
<br /> tfl the insurance carrier and Lender.Lender may make praaf o:f Xoss if not made pron�ptly by B orrovver.
<br /> Unless Lender and Borrower ��hervvise agre� in writing, in.�urazac� proc�eds shall be app��ed to res��oration or
<br /> repa�r of�he Proper�y damaged, if, �n Lender's so�e d�s�reti�n, the restora��on ar repair is ecanamical�y feaszb�e
<br /> and L�nd�r's security�s not lessened. If, in L�nder's s�Ie dis��retian, t�e res�orarion or r�pair i� nat ec��nomica�]y
<br /> feasib�e or Lender`s secur�ty vv�uld be lessened,the�nsurance��r�ceeds sha�l b�appl�ed to the sums se�ured by�hzs
<br /> Securi�.y �ns�rument, whe�her or not then due, �v�th any ext�ess paid �o Borrovver. If Borrc�wer abandons �he
<br /> Property, ar d�es no�answer w�thin the number o�days prescr�ibed b�.�pp�icable Lavv as se�forth in a r�otice from
<br /> Lender�o BorrQwer�hat�he in�urance carr�er has offered to settle a cla�m� th�n Lender may calle��th�: insurance
<br /> proc�eds. Len�er may use the proceeds �a repair ❑r restore tl�.e Propert�y ar to pay sum.s securLd by�his Secur��y
<br /> Ins�rument,vvhe�her or not then d�e. The peri�d of�ime for Bc�rrower to an�vver as set for�i in t.�e nat���vv��X begin
<br /> when the n�tice is given.
<br /> Un�ess L�nder and BQrrov�rer otherwise agree in vvriting, any i�.pp�icatian of pr�ceeds ta princi�al sha�I not extend
<br /> flr p�stpone th� due date of the paymen�s due under the Con��ac�flr change the amoun�of the�ayments. Zf under
<br /> �he sec�i�n tit�ed.�cceZera�ivn; Rem�dies, th� Pr�perty�s ac��u�r�d by Lender, Borravver's right�a any�nsurance
<br /> polici�s and proceeds resu��ing f�om damage �o �he Prope�-ty pri�r �a the acquisit�an sha�1 pass �a L�nde� �a the
<br /> extent�f the sums secured by this Secur�ty�ns�rument zrnmedi���e�y pr�vr��the acqu�si�zon.
<br /> Preservation, �Ia�ntenance and Pr�tect�on of �he Proper��� I3orrov��er'S Loan App�zcation; Leas�holds.
<br /> Borro�rer shail nat des�ray, damage or impazr�he ProperCy, aliflw the Proper�y�o de�er�ora�e, or commzt waste on
<br /> the Proper�y. BorroWer shall be xn defau�t if a�.y�orfeiture ac�ion�r proceeding,wheth�r civi�or�rimina.�,is�begun
<br /> tha� in Lender's gaod faith�udgm�n� could resu�t in forf�iture of�he Prop�r�y or o�her�v�se ma�erial�y �mpazr the
<br /> �ien created by �h�s Se�urifiy �nstrumen� or Lender's securit�y interes�. Barrawer may �ure �uch a default and
<br /> reznsta�e, as provid�d in sec�i�n t��Ied Borro��er's R�ght �fl F�e�nstate, by caus�ng the actinn ar proceE�ding to be
<br /> dismissed�vit.�i a rulin.g tha�,in Lender's good�ai�h determination,pr�c�udes f�rfe�tur�of�h.e B�rrov�er's int�rest in
<br /> th� Froperty or other ma�er�a� �mpairmen� �f the ��en create�d by �hi� Security �n�trumen� or Lender's security
<br /> interes�. Borrower sha1� a��a be zn defaul��f B�rroWer,during�:he I�an applicat�an process,gave mater�a�ly fa�se or
<br /> inac�ura�e infarma�ion or sta�ements to Len�er �or fai�ed to provzde Lender w��th any mater�a� infflrr.nat�on} in
<br /> connec�ion wi�h the �oan evidenced�y �he Contract. If this S��curi�y�nstrument is on a �easehald, B�rrovver sha��
<br /> c�mply with al�the provisians of�he lease. If Borrower acqu�r�s fee t���e to�he Property,�he leasehold a_nd the fee
<br /> ti��e sha1�n�t merge un��ss Lender agrees to�h�r�erger in wri�:�ng.
<br /> Protectian of Lend�r's Ri.ghts in th� PrQperty. �f�3�rrov��er fa.i�s �o �erfarm the covenants and agreements
<br /> cflnta�ned in�hzs Securzty�nstrument, or there is a Iegal pr�ce��ding�;ha�may sign�f cantly affec�Lender's righ�s in
<br /> th� Praperty �such as a praceed�ng in ban.kruptcy, pr�bate, f��r condemnation or forfei�ure or �o enf�r��e laws or
<br /> regulations), �h�n Lend�r may d� and pa�r for tivhatever is ��ecessary to pra�ect the valu� af�he Praper�ty and
<br /> Lender's rights in the Praperty. Le�.der's act�ons may include p�.yzng any su�ns secured by a lien tivhich has priflrity
<br /> ��er this Securi�y�nstrument, appearing in cour�,payzng reasa�zab�e a�torneys'fees a�d�ntering on the Properfiy�o
<br /> rnake repa�rs.Al�hough Lender may�ake act�nn under this sec�:ion,�,ender does no�have to do so.
<br /> Any amounts d�sbursed by Ler�der under this se�tian shall b�.coxne add�tianal deb� of Borrov�er secu.red by �hxs
<br /> Sec�r�ty �ns�rument. Un�ess B�rro�ver and L�nder agree tfl �ther terms �f payment, these amounts sha1� bear
<br /> �2fl04-2015 Compliance Systems,In�.CSE8-ADA�'-2fl 15.�2.2.I�I2
<br /> Cansumer Real Estate-Security Instrument I3L203d Page 2 af 5 www.compliancesysteFns.com
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