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2� 1 ��8384
<br /> Payment of Principa�and Inte�est; �ther�h�arges, Barra�ver sha�l promptly pay yvhen due�h�principal of and
<br /> interest on�he deb�owed under the�antrac�and Iate charges�r any o�her fees anti ch�rges du�under�he�flntrac�.
<br /> Appli�ab�e La�v. As used in t�is Security Instru.men�, the term "App�icab�e Law" shall mean aI� contr�ll�ng
<br /> applicable federal, sta�e and Iocal s�a�utes, regulati�ns, ordinances and adminzs�ra�ivn rules and orders (that have
<br /> the effec�of�aw)as vve�l as a�l applz�ab�e final,non�-appealable judi�ial vpin�ons,
<br /> �harges; Liens. Barrovver sha�� pay alI taxe�, assessments, chaxg�s, f nes and irr�posi�ions attributa.b�� �o the
<br /> Proper�y�vh�.�h may attain priflri�y over�his Se�urity�nstrumen�, a.nd �easehflld payr���nts or ground rents, if any.
<br /> At�he request of Lender,Borrov�rer shall pra�r�p�ly furr�ish��Lender receipts evid�ncimg�he paym�n�s.
<br /> Barrowver shall promp�ly discharge any lien which has priority ove�-�his Security Ins��rument unl�ss Borrovver: (a}
<br /> agrees in �vri�ing to �he paymen� of the abliga�ion secured by the lien in a ma�u�.�;r acc�p�ab1� tv Lender; �b}
<br /> co�tests �n gofld faith the lien by, or defen�ls �gainst enforc�ment of�he li�n in, Ie�al procee�.�ngs �vhi�h in the
<br /> Lender's api_nion aperate to preven� the eniorcement of the ��en; or ��� secures from �he holder of the 1i�n an
<br /> agreer�ent sa�isfac�ory�o Lender subardinat�ng�he �ien to th�s 5ecurity Ins�rument. I:f L.ender determines�hat any
<br /> pa�-t a�'�he Proper�y �s subj ect ta a �ien u�hi�h may atta�n priarity over �his Security][nstrumen�, Lender ma�r g�ve
<br /> B�rro�v�r a n�tice iden�ifying�he Iie�. �orr���ver sha�� sa��sfy�he Ii�n�r take one or r�ore �f�he ac�ions se�f�r�h
<br /> above w�thin I�da�s of th�giving of n��ice.
<br /> Hazar�d or Property I�suranc�. Borro�vver;Shall keep the i�npr�vezn�nts naw existin.g ar hereaft�r �re���d on the
<br /> Prop�rty insured against loss by fire,hazards in�luded within�he te�m"extended coverage" and any o�her hazards,
<br /> �ncludang floads or flooding, f�r which Lend�r requires in�urance. Th�.s insurance shall be mai��ained in �.ie
<br /> amoun.t�and fQr�he periods�hat Lender require�, The�nsuxari�e carrier praviding��e insurance sha11 be chosen by
<br /> Borro�ver subj ect ta L�nder's a�proval v�h�ch �hal� not be unreas�nably �withheld. I��'�arrower fails �a maintain
<br /> coverage desGribed ab�ve, Lender may, at Lender's op�ion, ab�ain cove�-age ta p�•o�ec� Lender's righ�s �n th.e
<br /> Pr�per�y in accordance vvi�h sectian��tle�Pr+�tec�ion vf Lender'�l�.i.ght�in�he Prop�rty.
<br /> AI� in5urance palicies and reneu�ais sh�11 be acceptable t� L�nd�r and sha�l include a, s�andard mor�gage clause.
<br /> Lex�der sha�l have�he right�o hold the polic�es and renewals. If Lender requires,Bor��ovver shall pr�mp�l�r give t�
<br /> Le�der a��receip�s of paid p�em�ums and rer.�eWal notices. I��he event of Iass, Borro��er shall give pr�rnpt no�ice
<br /> �o the�nsurar�ce carrier and Lend�r.Lender rr�ay make praaf of�oss if n�t made prom��ly by Barr�wer.
<br /> Unless Lender and Bo�-r�wer ❑�erwise agr��e �n writing, in5urance proceeds sha�l �be applied to restora��on or
<br /> repair af�he Pr�perty damaged, if, in Len��:r's so�e dis�ret�on, �he rest�ra�ion ❑r re�air is economically f�asible
<br /> and L�nder's security is no� �essened. �f, in I��nder's sole discre�iar�, �he res�aration c�r repa�r is �ot ec�n�mica��y
<br /> feasib��or Lender's security would be lessene�d,�he instxrance proce�ds shall b�app�ied to the sums secured b��his
<br /> 5ecurii.y �ns�rumen�, vt�hether �r no� �hem due, v�i�h any ex��ss paid �o Borrower. If Borr��w�r abandans the
<br /> Properry, ar does not a�svver within�he�aum��er of days prescr�bed by Applicable La�v�a.s set for�h in a notice from
<br /> Lender to Borrow�r tha�the insurance�arrie7�has �ffered t❑ set�le �.c�aim, then Lender may cv�lect�he insuranCe
<br /> proceeds. Lender may use �he proceed� �o r�:pa�r or restare the Pr�perCy or to pay sL�ms secured by this Se�uri�y
<br /> In�trumen�,vvhether or not then due.Th�peri��d of time far Borro�ver�o ans�ver as se�:forth in�he no�ice vvi�I begin
<br /> when t�e notice�s gi�en.
<br /> Un�ess Lender and Barrourer o�her�ise agre�: in wr�ting, any applicat��n�f proceeds �o p�rincipa�shall not e�tend
<br /> �r postpone�h� due da�e of�he paymen�s du��t�nder�he ��n�r�ct nr change the am.aunt of�he pa�rmen�s. �f under
<br /> �he sec�ion ti��ed Ac�el�rat�on; Rem�d�es, ��xe ProperCy is acquired by Lender, B�rre►wer's right�o any insuranc�
<br /> p�l�cies and proceeds resulting f�om damage: �a the Prap��-ty pr�or �� �h� acqu�si�ion shal� pass to Lender �� �he
<br /> ex�e�t of�he sums secur�d by th�s Security�n.}�r�ment immediate�y pr�or���he acquisit:ion.
<br /> Prese�-rvativn, Nlairn�er�ance and Protec��on of th� Prflpe��y; Borr�vver's L4an App1��a�ian; L�aseh�Ids.
<br /> Ba�-r��er shall not des�r�y, damage or�mpa��•�he ProperCy, al�ow t�e Pr�perty to dete:riorate, or commit�aste fln
<br /> the Property.Borr�wer sha�l be�n defau�t if a:r�y forf���ure actio�nr prace�ding,whe�her�ivi�or criminal,�s begun.
<br /> that �n Lender's good faith�udgment c�uld rf�sult rn f�rfeitu�-e of th� Proper�y ar��h��-�rise materia��y impair �he
<br /> Iien cr�ated by �this Se�urity �nstrumen� or Lender's securit,r inte�-�st. �orrotiver may cure such a de�aul� and
<br /> reins�a�e, as provided in sectian�i��ed B�rror�v�r's Right t� l���ns�ate, by causing the action or proceeding t� be
<br /> dismis�ed wi�h a rul�ng�hat,�n Lender's goad fai�h determ�na�i�n,pr�cludes f�rfe�ture�f the Borr�wer's in�erest zn
<br /> �he Praper�y or other material impairment �f the Iien created �by �his Securzty Ir�str�.ment or L�nder4s securi�y
<br /> in�eres�.Borro�ver shal� also be�n defaul�tf B arr�wer,during the�oan app�icati�n proc�ss,gave materialty fa�se or
<br /> inaccura�e infarma�ion ar s�a�emen�s �o Len���r �ar fa�Ied �� provid� Lender vtri�h a�zy mater�a� infarmation} in
<br /> conne���on tivith�he 1�ax� e��d�nced by �he Cc�n�rac�. �f th�s Security�ns�rument is on a Ieaseho�d, Borrower sha1T
<br /> comply with al��he pr��isions of�he lease. If Borrovver acquir�s fee tiit�e�a the Proper�.y,�he leaseh�ld and th�fee
<br /> �i��e sha�l not mer�e uniess Lend�r agrees�a�:�e�erger�writing.
<br /> Protec�.ion of Lend�r'� �ghts in th� Pra��erty, rf Borrower fai�s �� perform �he c�venants and agreements
<br /> con�ain�ed�n this 5ecurity Ins�rumen�, ❑r there is a legal proceeding�ha�may s�gnif carxtly affee�Lender's r�ghts in
<br /> �he Property �such as a proceedi�g �n bankruptcy, prQba�e, for candemnatzon or forf�itu.�-e or ta enforce �aws �r
<br /> regula�ions}, �hen Lend�r rnay do and pay f or vvhatever �s necessary to pro�ec� the value �f th� Propert� and
<br /> Lender's rights in the Property. Lender's activz�s ma�include pay�ng a�y sums secured by a lien�rhich has riori
<br /> P �Y
<br /> over#�ais Securi�r Instrument, app�arin�in co��,paying reasonab�e at�Qrneys'fees and entering on the Prnper�y to
<br /> make repairs.A��hough Lender may take act�on under�his secti�r�,Lender does n�t have�a do so.
<br /> Any amounts disbursed by Lendez under �his section shall bec�rne add�t�onal de�� �:��3arrou�er s�cu.�-e
<br /> dby �h�s
<br /> � Se�uri� �ns�rument. IJn�ess Borro�v�r and L e�der agree to ather terms �f payment, these amoun�s sha1� bear
<br /> 9 Za0�4-2Q I S Compliance Systems,�nc.6l$A-DC 1D-2a 15.12,3.I,I]1 S
<br /> Consumer Real Estate-5ecurity Tnstrument DL2a3d Page 2 of S www,comp]iancesystems.�Qm
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