� � 2� 1 ��7932
<br /> Pa�ment af Pr�ncipa�and Interes�; ��her�har�esd Borrn�ver shall proznp�l�pay when due�he pr�nczpal flf and
<br /> interes�an the deb�owed under the�nn�r�.c�an�.�a�e charges�r any o�her:�ees and charges due under�he Con�ract.
<br /> Applicabl� I��w. As us�d in this Secur��y Instrumen�, the term "App�icable La�v" shall mean al� c��.tro��ing
<br /> applicable f�d�ral, s�a�e and �acal s�atu�es, r�g-�lations, ordinances an� a�minis�ra�ive ru�es and ard�r� ��ha�have
<br /> the effect of law�as v�re1��.s a��app��cab�e fzna�,�vnWappea�ab�e judicial�p:�n�ons.
<br /> �h�rges, L�ens. Borrov�er shall pay aIl �a�.es, assessment�, �harges, f1�.es and im.positions at�rzbu�b�e ta the
<br /> Pr�perty which may attain priority aver this Se�ur�ty�ns�rumen�, and�easehold paymen�s or graund r�n�s� zf any.
<br /> Ati the reques�of Lender,Borrower sha�l pr�mp�ly furnish to Lende�r�c�ip��s evidencing the paym�nts.
<br /> Barro��r sha�l promp�ly discharge any l��n tivh�ch has pr�ori�.y over�his Se�urity Instrumen�un��ss�arr�o�ver: (a}
<br /> agrees in wri��ng t� the payment of�the obliga�ion secur�d by the �ien �m a manner acceptable �o Lender; �b}
<br /> cantests in g�ad fa�th the lien by, or defends agains� enf�rc�ment of the lien in, Iega1 praceedings whic� in the
<br /> Lender`s �pir�ion operate ta prevent the enforcement af�he lien; �r ��� secures from the holder af the Iien an
<br /> �.greemen�sa��sfact�ry to Lender subardinating the lien to this Sec�r�ty�nstrument. If L�nd�r determ�ir�es�ha� an}r
<br /> part of the Praperty is subjec��o a lien which r�ay at�ain priarzty nver �h�s Security�nstrumen�, Lender may give
<br /> Borr�vv�r a not�ce identifying�he Iien. Bo�-rovv�r shall sa�isfy the li�n or��� �ne ar m�re �f�he a��ians se�for�h
<br /> above wz�hin �D days of the giving❑f no��c�e.
<br /> Ha�ard ar Pr�pert�Insurance. BarroWer sha���eep �he improvezxx�n�s���w ex�sting ar hereaft�r erected on the
<br /> Pr�per�r insur�d aga�ns�loss by fire,ha2ards�n��uded wi�hin the�erm"extended coverage" and any ot�er hazards,
<br /> inciuding floo�s or flooding, for wh�ch Lend�r requ�res �nsurance. This insurance sha�� �ae mainta�ned in the
<br /> axn�u.nts and for�he periads�ha�Lender re�uires, The insurance carrier pr�viding the insurance sha��be ch�sen by
<br /> Borrvurer sub�ect �o Lender's approval ,which shall na� be unreasonably withheld. �f�orr�vver fai�s tn main�ain
<br /> c�v�rage described abnve, Lender may, at L�nder's op��fln, ob�a�n caverage �o protec� Ler�der's rights in the
<br /> Property�n aceardance vtrith sec��an�itled 1'rot���i�n�f Lender'�l�gh�s xn the Prvper�y.
<br /> A�� �nsurance pol�c��s and renetivals sha�� be ac�ep�abl� ta Lender and sha�l include a s�andard m�r�g�.ge clause.
<br /> Lender shal�have the righ�ta hald th�pol�cies and re�e�wa�s, If Lender re{�uires,Borrotiver sha���ro�np�ly give�o
<br /> Ler�der aI1 receip�s of paid premiums and ren�tiva�no�ices. �n the even�af lass, Barrav�er shall give promp�natice
<br /> tv the�nsuranc�carrier and Lender.Lender m�.y mal�e proof of�oss�f n�t r�ade promp�ly by Borra�ver.
<br /> Un�ess Lender and Borrawer otherwise agree in �vrit�ng, insurance praceeds �hall be applied to r�st�r�.�ion �r
<br /> repa�r af the Fropez-�y damaged, if, in Lender's so�e �iscre�ion, the r�stor�tion or repa�r is e�on�mi�a�ly �`eas�ble
<br /> and Lender's s�cur�ty�s x�fl� lessened. �f, ir� Lender's sale discretian, �he r�s�ora�ion or repair�s not ecanami.Cally
<br /> feas�b�e or Lend�r's securi�y w�u�d be�essened,�he ins�t.ranc�prQceeds sha�l be applied�o the sums s�c�.red by�his
<br /> S e cur�ty Instrument, �vh�ther ar not �hen due, wi.th any exc ess pa�d ti� B orrativer. If B orrower abandons �.he
<br /> Prtiper�y, �r does not answer wi�hin�he numb�r�a�da�s prescribed by Applicable Law as set for�h in a no�i�e fr�m
<br /> Lender to B�rrower�hat th� �nsuranc� carr�er has �ffered�o set�le a c�aim, then Lender may collec��h��n�urance
<br /> proceeds. Lender may us� the proceeds �� repa�r�r r�s�ore the Pxoperty ��t� pay sums secu.red by�his Security
<br /> �ms�rument,urhether or�flt�hen due. The p�riod of�im�for Barro�er�o ans�wer as se�for�h�n�he riotice uri��begin
<br /> yvhen the nn��c�is given.
<br /> Unless Lender and Borrow�r o�herwis� agree �n�vr��ing, any appXx��.�i�n�f proceeds�o principa�sha�l n��extend
<br /> or pos�pon��h� due da�e�f th�payrnents du.e under the �antrac�ar change�he amau�.�af th�pa�-men�s. �f under
<br /> �he sec�ion�i�l�d A��e��r�tion; Remedies, �he Property is acquired by Lender, B�rrov�er's righ��� an�znsurance
<br /> pol�c�es and praceeds resulting fram damage �o the Proper�y prior ta �he acqu�s���on shall pass �o Lende� �o the
<br /> ex�ent af the sums secured by�his Secur�t��nstr�men�immediately�rior to�he acqu�szt�fln.
<br /> Prese�-vatian, Maintenan�e and Prot�c�ion flf �he Prop�rtyy B�r�'�v�'eY�5 Lvan Appl�ca����; Leas�h��ds.
<br /> BQrrovver shall not destr�y, damage ar impair the Praperty, ailow�he Prop�er�y�o det�r�ora�e, ar commit vvaste an
<br /> �he Proper�y.Borro�ver sha��be in default i�any forfeiture action��procee�.�ng,�vhether czvil ar cr�m�nal,is begun
<br /> �hat in Lender's goad fa��.judgment cauld resul� �n farfeitur� of�he Property or a�he�-wise ma�erially impair the
<br /> �ien created by �his Securi�y Instrument ar Lender's security �n�egest. Borrawer may cure such a defa�lt and
<br /> rexnsta�e, as provided�n sec�i�n�itled�3orr�vver's�ight to laein�tat�, by caus�ng the ac��on ar proce�ding to be
<br /> d�smissed w��h a ru�ing that,in Lender's go�d fa��h determina��on,preclude�farfei�ure�f the Borro�►rer's in��rest in
<br /> the Property o�r o�her material �mpairment �f�he Iien crea�ed by this 5�curity 7nstrument or Lezader'� secur�ty
<br /> in�erest.BorrvWer sha��alsa be zn default if Borro�r�r,durzng�he laan app��ca��on process,gave material�y fa�se or
<br /> inaccura�e inforxnation or stateme�ats �o Lender �or fa�led ta provit�e Len�er w��h any material ir�forma�i�n} in
<br /> connec��on v�rith the loan evidenced�y the C�nt�-act. If this 5ecurit�Instrur�ent�s on a �easehold, Borrower sha��
<br /> comply wi�h al��he pro�isions�f the lease. If�orrowe�acqu�res fee t�tle�o the Property,the�easeha�d�n�.the fee
<br /> ti�le shal�n��merge u.nless Len�er agrees ta the merger in writ�ng.
<br /> Protectian of Lend�r's lZights in the Pr�p�rty. If B�rrov�er fa��s �o ��rform the ��venan�s and agreements
<br /> contained in th�s Securz�y�nstrum�nt, or�h�re zs a�ega�proce�ding�ha�amay srgnif cant�y affect Lender's rights in
<br /> the Pr�per�y �s�.ch as a proc�eding zn ban�.ruptcy, pr�bate, far conden�a�:�on ar farf�iture or �o �nfor�e Iaws or
<br /> regula��ons}, th.en Lender may do and pa�r f�r whatever is necessary �o pr�tect the value of th� Property and
<br /> Lender's rights in�he Prvperty. Lender's act�ons may include pay�ng any su�ms s�cured by a lien vvhi�h has prior�ty
<br /> over this 5ecu.r�ty�nstrument,appear�ng in�ourt,pay�ng reasana�le�t�orneys'fees and entering�n�he Froperty to
<br /> make�-epairs..A�lthough Lender may�ak�acti�n under this section,L�nder does not ha�re to d�so.
<br /> A.ny amflun�s disbursed by Lender under this sectian sha�� b�c�me additi�na� deb� of Borro�t7ver secured by �h�s
<br /> Securzty Instru�.nent. Un�ess B�rrou�er ana Lender agree �o othe�- terms �f paymen�, these amflun�s shal� bear
<br /> �2404-2fl 15�ompliance Syst�ms,Inc.51$A-94FE-2�15.1�.3.l.1115
<br /> Cons�mer Rea�Estate-Security Instrurnen�DL2435 Pa�e 2❑f 5 www.cvmpIiancesystems.co�n
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