2� 1 ��8�5�
<br /> Pa�ment of Prxn�xpa�a�.d Inter�s�; �th�r��harges.Barrower sha.��pr�mp�ly pay v�hen due the principa�of and
<br /> int�rest an�he debt atived under�he�on�rac��.nd�a�e charges ar any��her fees and char�es due under the�ontrac�.
<br /> Appli�able Y1aw. As used in �his Securi�y Ins�.ru.men�., the �erm "Applicable Lavv" sha�I mea�. aIl c�n�r��ling
<br /> applacab�e fe�eral, sta�e �.nd �ocal statut�s, regu�a��ons, ordinances an�i adm�nistra�ive rules and orders �that have
<br /> th�effec�of�av��as vvell as a�1 applicable final,r�fln-appealable�judicial opiniQns.
<br /> �harg�s; L�ens. Borrawer shal� pay alI �a��es, assessmen�s, charges, f�nes and im���si�ians attribu�a.ble to �he
<br /> Proper�.y�hich may a��ain pr�ori�over�h�s �3�cur�ty Znstrum�nt, az�d��asehold paym=en�s or ground rents, if any.
<br /> A�the�eques�of Lender,Borrotiv�r sha�l pron�p��y furn�sh��Lender receip�s evidencin.g the payments.
<br /> Borro�er sha1�promp��y d�scharge any li�n tivhi�h has prinrit�over this Securi�.y Inst�:-umen�unXess Barrov�rer: �a}
<br /> agrees in writing �a the payment of the ob�igation secured l�y the lien �n a rnanne:r accep�able t� Lender; �b)
<br /> can�es�s in gaod fai�h �he Iien b�, or d�fend�� agains� enforcement af the lien in, 1eg��.I proceedir�gs ,which in the
<br /> Lender's op�ni�n opera�e �v prevent �he enf��rc�rnent af�he 1ien; ar �c� se�ures fro� the holder of the li�n an
<br /> agreer.��nt sa�xsfactary ta Lender subardu�a�i�zg�he Iien t� �h�� 5ecu.�zty Instru�men�. �f�,e�der de�ermines that a.ny
<br /> par� of the Property zs subject to a lzen�vhic��may attain priori�y a�er th�s Secur��y I�s�rumen�, Lender may giv�
<br /> Barrov�rer a r�otice iden��fying�he ��en. B�rr��wer sha11 satisfy�he li�n or take one �r r�are of the actza�.s set farth
<br /> ab�ve�vi�hin I�days of the giving of na�ice.
<br /> Hazard or Propert�Insurance. Boz�row�r sha��keep the�mpr�ver.��nts n�w ex�s�zn�or hereafter erec��d on the
<br /> Proper�.y insured against loss by f re,hazards i���uded vvithxn t�ie ter�n"ex��nded c�verage" an�any o�her hazar�s,
<br /> �nc�udi�.g f�oods �r flooding, for which Lerider requ�res insuranc�. Th�s insurance shall be main�ained in the
<br /> amoun�s and fflr the periods tha�Lender requires. The insuranc�carr�er pr�viding the i�.surance sha��be ch�sen by
<br /> Borr�v�er sub�ect tfl Lez�der's approval �whicl� shall not be unreasonably Withhe�d. Yf BorroW�r fai�s to main�ain
<br /> coverag� descr�bed abave, Len�er may, at Le�.der's op�ion, �btain �flverage �a pr�tec� Lender's ri�hts in �he
<br /> Proper�y�n accordance vvith sec�ion titled Pr��te�t�on of Lender's R�ghts�n�he Pr�p��rty.
<br /> A�� ins�rance pol�cies and renewals sha�l be acc�ptab�e �o Len.der and sha�I ��clude a s�andard mor�gage c��use.
<br /> Ler�der sha�i have�he righ�t�hol�i the polici�:s an�renev�a�s. �f Lender re�uires, Borr�wer sha���romptly g�ve to
<br /> Le�.der al�receip�s of paid premiums anc�ren�vval noti�es. In the ev�n�af loss,Borro��ver shal�gi�e pro�np�no�ice
<br /> �o���i�suranc�carrxer and Lender. Len�.�r may xnake proaf of�ass if not made promp�.�y by Barro�ver.
<br /> Unless Lender and Borro�t�ver o�h�rwise agr�:� in vvrit�ng, �nsurance proceeds shall �}� app�ied to restoration or
<br /> repa�r �f the Pr�perty da�nag�d, if, in Lende r's sole discretion, �he r�s�o�-ation or repair is ecanomical�y fea�ible
<br /> and Le-�der's secur�ty �s n�t Xessened. �f, in L�ender's s�Te discretion, �he res�ora�ion o_r repa3r is n�t ecanomically
<br /> feasil�Ie or Lender's securi�y vvou�d be iessene��,�he insurance pr�ceeds sha��be appl�e�l�o�he sum�secu.�ed by thzs
<br /> 5ecurity Ins�zu�ment, v�rhether or na� �h�n dize, v�ith any excess p��d t� Borro�er. �f Borrotiver abandons �he
<br /> Property, or dfles not ansv�rer wi�hin the numb er�f da�s prescr�bed by App��cable La�v as set forth zn a not�ce from
<br /> Lender tfl Borrov�rer�ha��he insurance carrier has affered to s��tle a claim, then Lend���may col�ect th� znsurance
<br /> pra�eeds. Lender may use �he proceeds �� repa�r or restvre the Prvp�a�ty ar ta pay su�.s secured by th�s Security
<br /> Ins�ument,whether�r not then due.The peric�d�f time for Bax�rowe�-�o ansvver as set�:orth in the�.ot�ce vvi�I begin
<br /> �rhen�he notice is given.
<br /> Unless Lender and Borrovver o�herwise agree �n writing, any�.ppl��a��on of proceeds 1:❑princ�pa�sha11�o�e�tend
<br /> or post��ne �he due d�.�e�f the payments due:under the Contrac�or change �he amou���of the paymen�s. �f under
<br /> �he sec�ion�it�et�Accel�rat�on; I�emedies, tr.�Prop�r�y�s acquired by Lender, Barrav�rer's �r�ght�� any insurance
<br /> po�zcie� and proceeds resul��ng from da�age �v the Property prior to the acquisition shall pass to Lender to the
<br /> extent of the sums secured by�his Securxt�In��t�ment immedia�ely prior�o�he acqu�siti�n.
<br /> Preserwati�n, Main�enance and �rot�ctio�n of the Prope��y; �orrov�er'S L�an App���at�on; Lea�eh�lds.
<br /> Borrov�rer sha1l not des�roy, damage or impa�r�th�Properry, all�vtr�he Prnperty�❑ de��r��rate, ar c�mmit waste on
<br /> the Proper�y. Bor�-ovver shal�be�defaul��f a��y forfei�.ur�action�r prflceeding,�heth��civi�or cr�minal,is begun
<br /> tha� in Lender's goad fai�h�udgment could r�.su�t �n forfeiture Qf�h� Prop�rty or oth�r�vise ma�eria��y �mpair the
<br /> Iien crea�ed by this 5ecurity Instrument ar Len�er's security interest. Borrovver xn�.y �ur� such a d�fau�t and
<br /> re�nsta�e, as provided in sec��on��t1ed Borro�ver's R�ght to R�inst��e, by causing�h�; ac�x�n or proceeding to�e
<br /> dismissed vv�th.a ruling tha�,in Lender's g�od fai�h determinatiQn,pr�cludes forfei�ure+�f the Borrotiver's inter�st in
<br /> the Praper�y or other material ixnpairment of the I�en created by �his Securi�y Instrumen� or Lender's sec�r��y
<br /> interest. Barrawer shall also be in d�fault if B{�rrQv�er,during th�loan app���ation prflcess,gave materia���fa��e ar
<br /> �naccur�te in�'orma�ion or sta�ements to Lencier �or failed to prov�de Lender �vith. a���r mater�al informati�n} in
<br /> connec�ion vtji�h�he Iaan e�ridenced by the Gc�n�trac�. If this Securrty�nstrument is on �a leaseho�d, Borro,t�ver shall
<br /> c�mp�y Wi�h a11 the prov�sians of the�ease. If Borrovver acquir�s fee title to the Propert.y,the�easeha�d and th�f�e
<br /> ���le sh�.I1 no�merge un�ess Lender agrees�a�:�e r�.erger in wr����g.
<br /> Prot�ct��n of Lend�r's R�.ghts in the Pro���r�y. �f Borrovver fai�s to perform �he covenants and agreements
<br /> con�a�n�d in�his 5ecurity Ins�rument, or there is a legal proce�ding�hat may s�gn��car��I�r affect Lender's rxghts in
<br /> the Pr�perty �such as a proceeding �n bankru��c�r, probate, f�r condemnation or fflrf��iture �r to enf�rce laws or
<br /> regulati�ns}, then Lender may do and pay f or vvha�ever is n�cessary to pra�ec� the va�ue of�he Pr�perty and
<br /> Lender's righ�s�n the Property. Lender's actia��.s may include pay�ng any surns secured by a I�en vvhich has�r�arity
<br /> aver this 5ecuri�y�ns�rum.enty a.�]���'1�1.�1.�7.C�1.�,paying reasanab�e at�arr�eys'fees and�ntering on�he Pro�er�y��
<br /> make repairs.Al�haugh Lend�r may�ake actian under�his sec�tinn,Lex�der does not have�o do so.
<br /> Any amounts disbursed by Lender under th�s sect��n sha�� became addit�ona� debt o:f Barrav�rer secur�d by �h.is
<br /> Securi�gr �n�trument. UriI�55 Borrovver and L,ender agr�e �� o�her �erms of paym�n�, these am�un�s sha�� bear
<br /> Q 2044-2Q�S ComptianGe Systems,Tnc.618A-98 I 1-�Q 15.12.3.1.t 1 t 5
<br /> C�nsumer Rea�Estate-Security Instrument DL2�3b Page 2�f 5 www.�ompliancesystems,com
<br />
|