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2� 1 ���541
<br /> Payrnent af Prin��pal and Interest; �ther Ch�rges.Borrower shall promptly pay vvh�n due the principal af and
<br /> �nt�r�s�on the debt avved under the Cantrac�and la�e�harges�r any vther f�es and charges due under�h���n�rac�.
<br /> Ap�alicab�e I�aw, As used in this Secur�ty �nstrurn.en�, �he term i4Applicable La�v" shall mean a�l c�n�rol�ing
<br /> appl�cable federal, s�a�e and �ocal sta.tu�es, regulati�ns, ordi.n�.nces �r�d adrn�nis�rative rules and arders �that have
<br /> the effect of lav�r) as�ell as aIl app�icable f�nal,n�n-appealable judicial opin�ans.
<br /> �harg�5; Li�ens. Bflrra��r shal� pay al� tax�s, assessments, �harg�s, �nes and imp�s�t�ons attrib�table ta �he
<br /> P�t�per�y v�rhich may a�ta�n pr�or�ty�ver�his 5�c�.ri�y Yr�stirumen�, and�easeh�ld paym�nts or ground rents, �f any.
<br /> A�the requ�s�af Lender,Borro�ver shal�pramp��y furnish��Lender�eceip�s ev�dencing�he pay�n�n�s.
<br /> B�rro�wer shall prompt�y discharge an��ien wh�ch has priori�over�h.�s S�:cur�ty�nstrument ur�.less Borrn��er: �a�
<br /> agrees in writing �o the payment of the abligatinn secured �y �he �ien i:n a manner a�ceptab�e �� Lender; �b�
<br /> con��sts �n go�d fa�th �h� Iien by, �r defends aga�nst enforcement �f t.�ie :lien in, legaT praceedings which in �he
<br /> Lender's opini�n op�rate �o prevent �he enf�rc�ment �f�h� ��en; o� �c} s�ecures fram the hol�.er ❑f�ie �ien an
<br /> agreemen�sa��sfactory�o Lender subordinating the �ien to thz�, Security�ns�rumen�. �f Lender de�ermines tha� any
<br /> part of the Property is subject ta a lien vvh�ch may attain pri�rity o�er this Securi�y Ins�rumen�, �ender may g�ve
<br /> Borrower a no�ice �den�ifying the lien. �3�rrov�er sha�� sa�isfy�h� lien or�a�e one or more of the ac�ions se�for�h
<br /> abave within 1�days of�he g�v�ng of not�ce.
<br /> Hazard or Property Insuran�e. Bar-ro�rer sha��keep �he impravements now existing or her�af�er erec�ed on the
<br /> Property�nsured against loss by f re,hazards�nc�uded wi�hin��e term"extended c�verage" and any other hazards,
<br /> znc�uding floods �r fl�oda.ng, for vvhi�h Lender requires �nsuranc�. This insuranc� shall be ma�ntazned xn �he
<br /> amotua.ts and for the periods�hat Lender requires. The insu.rance carrner pro�viding the in�urance shall be chflsen by
<br /> Borrativer subj ect t� Lender's appr�val �vhich shall no� be unreas�nabl� v►�ithheld. If�orrower fai�s �o n�aintazn
<br /> coverage described abo�e, Ler�der may, at Lender's opt�on, ob�ain c��erage �a prat�ct Lender's righ�s in the
<br /> Praper�y�n acc�rdance�vith section�itled Pr�tection of Lend�r'�Ri�ht�in the Proper�y.
<br /> All insuran�� pol�czes and renev�rals sha1� be accep�able �o Lender and sha�� xn�lude a standard mor�gage �Iause.
<br /> Lender sha�1 have�he righ�t�ho�d the policies a�d renetivals. �f Lender reguires, Borro�er shal�promp�ly g�ve to
<br /> Lender a�l rece�pts of pa�d premiu�ns and renevtral natx�es. �n the ev�nt�f��D55, Borr�tiver sha��gxve proXnp�not�ce
<br /> to the insuran�e carr�er and Lend�r.Lender ma�make proof of�ass if no�made pramptly by B�rrov�rer.
<br /> Unless �ender and BorrovtTer othervvise agre� in �uriti�g, �nsuranc� prac�:�ds shall be applied �o res�orati�n or
<br /> repazr af the Praper�y damaged, if, in Lender's sole dtscretion, �he �es�flra�zon or repair is e�onomicalXy f�asib�e
<br /> and �,ender's securit� �s not lessened. If, in L�nder's s��e disc_re�ion, the res�vration or repatr�� nat ecQnomica�ly
<br /> feasib�e or Lender's securi�y wouXd be�essened,�he�nsurance pr�ce�ds shal�be appX�ed to the sums secure��y thxs
<br /> Securi� Ins�rumerit, whe�h�r or not then du�, Wrth any excess paid �o Borrower. If Bflrro i�ver abandons �he
<br /> Proper�y, or does nat answer�ith�n�he�.uarx�ber of days prescribed b�Appl��cable Lavv as se�for�h in a n�tice from
<br /> Lender�o Borrower that�he insurance carrier ha� offered�o s�ttle a claim, �hen Lender may collect the insurance
<br /> proc�eds. Lender may use �he proceeds to repair or restore �he Property �:r to pay�u.m� secured b�this 5�curity
<br /> �ns�rument,whe�her or not then due.The periad af�zme for Ba�roWer�o ansvver a�set for�i in�he n��zce�vi�l begin
<br /> �rhen�he nati�e is g�ven.
<br /> Unless Len�er and Borrourer otherwise agr�e �n writing, any app�ica�i��af proc�eds�o prin�ipal sha�l nat�xtend
<br /> or postpone the due da�e �f the paymen�s due ur��.er the Con�r�.c�ar chang�.the amaunt of the payments. �f under
<br /> �he sectian�i�led Acee�erativn; Remedies� th�Property is acquir��by Ler.�der, Borrower's r�gh�to any zns�urance
<br /> po�icies and praceeds resu��zng from damage �o �he Property pr�or t� the �.cqu�s���nn sha11 pass to Lender �a the
<br /> extent of the sums secured by�hrs Security�nstrument immecliately przar ta 1:he acquisit�an.
<br /> Preservation, �I�Iaintenanc� and Protec��on of �he Praperty; B�rravver's Lflan A.pplicat��n; L�aseho�ds.
<br /> Borr��rer sha��not destroy, damage or impair the Property, allauT the Prop�rty�o de�eriora�e, or commx��v�.st� on
<br /> the Fraper�y. Borravver shal�be in default if any f�rfeiture action or praceeding,vvhe�her civil or crim�nal,�s begun
<br /> that �n L�nder's good fai�h judgment could result�n f�rfe��u�-e of the Pr�p�,rty�r othervv�se rna�er�a���impair �he
<br /> lien created by �his Securi�y Instrument ar Ler�der`s security in�er�st. B��rrQwer may cure such a defau�t and
<br /> reinsta�e, as provided in sec�ion�itled�orro�v�r�s l�igh� to Reinsfa�e, by causing the action or proceedzng�o be
<br /> disrnissed W�th a ruling tha�,in Lender's good faxth determinat�on,pre�Iudes farfeiture�f�he Borrower's ir�terest�n
<br /> �he Proper�y or o�her mat�rial impairmen� of the lien created by t�zs Se��uri�ty Instrument ar Lender'� secur��y
<br /> in�erest.Barro�vsrer sha��a�sa be in default if Borrc�tiver,during�he loan appli�atiQn pr�cess,gave mat�rial�y false ar
<br /> inaccurate �nf�rmation or s�a.tements to Lender �ar failed to provide Lender vv�th any mater�a� �nf�rrma�i�n� �n
<br /> connec���n with the ��an eviden�ed by the �on�ract. �f�h�s 5e�urit��ns�rum�n�is �n a Ieasehold, Borrow�� shall
<br /> comply�uri�h a1��he prov�s��ns of the�ease. rf Borro�ver a�quires fee t�tle�� the P�oper�y, �h��easehold and�he fee
<br /> �it�e sha��nat merg�un�ess Lend�r agrees t�th�n�erger�n wri�i�g.
<br /> Prat�ction af Lender'S l�ghts in th� Pr�perty. �f B�rrow�er faz�s �� pt�rform #he covenan�� and agr�ements
<br /> con�ained�n th�s Securi�y Znstru.men�, or�here �s a Iegal pr�ceeding t��a�may s�gnificant��affec�Lender"�rights in
<br /> �he Property �such as a proceeding �n bankrup�cy, probate, fa:r candemnation or forfeiture �r t� enforce lavvs or
<br /> r�gulat�ons}, �hen Lender may do and pay for whatever is necessary �a pro�ec� the va�ue of�he Pr�per�.y and
<br /> Lender's rights in the Proper�y. Lender's actions rnay include p�ying any sun��secured by a Iien urhzch h�s prior��y
<br /> over�h�s Security�nstrum�nt, appearing in�ou�,paying reasonable a�t�rne�rs'fees and en�ering�n�he P�-op�rty to
<br /> make repairs.Al�h�ugh Lender ma�take ac�ion under�his secti�n,Le�der dnes nflt have�o do so.
<br /> Any amoun�s disbu.rsed b� Lender under this se���on shall l�e�ome �.dditiana� debt of Borrovver secured �y �his
<br /> Securi�.y Instrument. �.Tnless Borrovver and Lender agree to o�her terms af paymen�, these amoun�s �ha�� beax
<br /> C�24�4-2Q�5 Cvmpliance Systems,Inc,GBEB-D9�F-20I5,�2.2.I i 12
<br /> Consumer Real Estate-Secur�ty�nst3-�zment DL2036 Page 2 af 5 �ww.compliancesystems.cflm
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