2� 17��34�
<br /> Applicable Law. A.s used in thi� 5ecurity �ns�rur�en�, �he �erm "Appli�able Law" sha1l mean a11 c�ntroi�ing
<br /> applicable fed�ra�, sta�e and lo�al sta.tutes, regula�ions, ordinances and adminis�ra�ive rules and order� ��hat hav�
<br /> the effec�af la,�r�as well as alI applicable fi�al,non-appealable�ud�c�al ap�n�or�s.
<br /> �harge�; Lie��s. B�rrawer shal� pay a�l tax�s, assessments, char�es, f�1�es and impnsitions a�.txibu�a.bl� ta the
<br /> Properfiy urhi��i may attain pri�rity over this Security�nstrumen�, �.nd leasehold payments or groux�d rents, if any.
<br /> At th�r�quest{of Lender,Borrower shal�promp��y furnis�to Lend�r r��eip�s�videncing th.e payments.
<br /> Borrower shal�promp�ly discharge an�r Ii�ri v�hich has pri�rity ov�r this Security�nstrurnent unless BorroW�r: �a}
<br /> agrees i� vc�r�ti.ng �o the paymen� of the �bli��tion secured by �h� �ien z� a manner a�cep�able to Lender; �b}
<br /> cantests in good fa��.h the �ien b;y, �r �efends agai.ns� enforcem�nt af�he lien in, ��gal proceedings which in �he
<br /> Lender'� opini�n operate �o preT►rent the enfo�cem�n� af�he lier�; �r ��} secures fr�m the holder of�e l�en an
<br /> agreement satiafac�ory ta Lender subard�nating the lien to �his Sec�rity Ins�rumen�. �f Lender determines tha� any
<br /> part of�he Praper��s subj ect�� a �ien whi�h may attain priorit�r aver this Securit�Instrument, L�nd�r may give
<br /> BQrroWer a n�ti�e identifying�h�l�en. Borr��,rer sha�l sat�sfy�he �i�n ar�a�e one ar mvre of the actions set forth
<br /> abflve within 1�da�s of�he giving af noti�e.
<br /> Ha�ard or Pr�vp�rt�Irisuran�e, Borrower s�a�.I k�ep t�e improvements n�w ex�sting ar hereaf�er ere��ed�n�he
<br /> Proper�ty insur��aga�nst I��s by�re,ha�ards imcluded wi�in�t�e term 41ex�ended c�verage" and an�flther hazards,
<br /> znc�uding f1�o+3s or flooding, f�►r which �end�r r�quires insurance. Thi� insurance shal� be main�ax.ned �n the
<br /> amaun�s a.�d for the p�riods�hat Lender requires. The insuran�e car.�.er pro�vid�ng the insurance shall be ch�sen by
<br /> Borrovc�er subj�ct to Lender's approva� which sha�� na� be unreasonab�y v�i�hheld. If Borrawer fails �o main�ain
<br /> cav�rag� �.escribed above, Lender may, at Lender's ap��on, abta�n cov�rage t� pro�ec� Lender�s rights in �he
<br /> Proper�y in a�Gordanc�,with sectinn���Ied Frote�ti�r�vf L�nder�s Rzghts ir�the Property.
<br /> A�� �nsurance po�icies and renewals shall be �c�eptable �a Lender �d shall inelude a standard m�rtgage c�ause.
<br /> Lender 5ha�1 have the right to hold the policies and ren�vUals. If Lender requires,B�rrawer shal�prornptly give to
<br /> Lender alI r�c�:ip�s of paid prem�ums and rer��vval notic�s. In tihe e�en��f l�ss, Barra�ver sha��give prompt notice
<br /> �o�he znsuranc�v carr�er ar�d Lend�r.Lender m�.y make pr��f af loss�f n�t�ade promptly by Borrov�er.
<br /> Unless Lender and B�rrav�rer a�herwise agree zn �vriting, in.surance �roceeds sha1l be appl�ed �o restoration or
<br /> repair o�the Praper�y darn.aged, �f, in Lender�s so�e discre�ian, the r�stora�ior� ar repa�r is ecflnor�ica��y feas�ble
<br /> and Lender's s��curi�r is no��essened. �f, �� Lender's s�le discretior�, the r�st�ration ar repair�s nat �canomical�y
<br /> feas�ble or L�nder's security tivou:�d�e Iessened,�he insuran��proc�eds shal�be applied t�the sums secured by�h�s
<br /> S ecu.rit�r �nstr��:men�, whe�her ar no#. �hen du�, wi�h any excess �a�d to B arrower. �f B orrotiver abandons the
<br /> Property, or d��es na�answer wi.�h�n�he nu�nb er�f days prescrib ed by App licable Law as set forth�a noti�e fr�m
<br /> Lender to Bnrr�v�rer tha��he insurance carrier has �ffered to s�t�le a c�aim, th�n Lender may cal��ct�h� insurance
<br /> proceed�. Ler�t�er may use the pro�eeds �� re�air or r�store �he Prop��t.y n��o pa�r sums secured by�his Security
<br /> �ns�rument,�he�her�or na�th�n due. The p�riod af�ime for Bor�-a�rer�a ans��r as set for�in the no�ice v�ri�I begin
<br /> when the noti���is given.
<br /> Unl�ss Lender and Borrativer a�herwise agree �n wr��ing, any appl�ca�ion of proceeds�o principal sha�I no�e�tend
<br /> or pastp�ne�h�; du� date �f the payments due under the Cantrac�or chan�e the amaun��f the payments. �f under
<br /> the �e�ti�n�i�l��d A�eeler�tion; Remedies, �he Pr��erty is acquired by Lend�r, Barrower's righ�t� any insurance
<br /> pol�cies and proceec�s resul�ing from damag� �o �h� Property pri�r ta �he acquisitifln shall pass �o Lender to the
<br /> extent of the su.ms se�ured by thi5 Security Instr�.ment immedzate�y prz�r�o�he acquis�ti�n.
<br /> Preser��t��r�, Maintenance and Protection of �he Pr�per�y; BorroYver�s Loan Appl�ca�i4�.; Le�.s�h��ds.
<br /> Barrovv�r sha�l no�des�ray, damage�r irnpa�r�he Property, all�w�he Prop�r�y�o deteriorat�, �r cammi�waste an
<br /> �he Pr�per�y. BorrQu�er shal�be i��z defau�t if any for�ei�ure action��pr�cee�ing,�rhether civi�or cri�ninal,is begun
<br /> �ha� in Lend�r':� ga�d faith�udgment could resu�t in forfeiture of�he Prflp�r�y or otherwise materially impair the
<br /> �xen created b�r this Security �n��rument �r Lend�r's securi�y interest. Barrov�rer may cur� such a defaul� and
<br /> re�.nstate, as pr��vided in section#:it�ed Bor�-�vver's�iight to Rein�ta�e, by��.using�he ac�inn or proceeding�o be
<br /> d�smissed vri�h a ruli�.g�hat,irt L�nder's gofld faith�ieterm�natian,preclu�les forfe�ture�f the Borrativer's ir���rest�n
<br /> the Fro�erty a:r oth.er material i�npairmen� �f the lien crea�ed b� this Secur�� Ins�rument ar Lender's secur��y
<br /> interes�. Borro�tuer shal�a�sQ be in default i�'Borraw�r,during�he laan appliGati�n pracess,gave ma�erially fa�se ar
<br /> inaccura�e informa��o�. or sta.tem�en�s �� Len��r �ar fai��d ta pr�vide Lend�r wi�h any mater�al infnrma���n} in
<br /> connec�i�n witl��he loan evidenced by�he Ca�trac�. �f this 5ecuri��nstruxnen�is on a leasehfl�d, F3orroWer shall
<br /> c�mp�y�vith all�the�r�visions of the�ease. If Borro�ver acquires f�e ti��e ta the Proper�y,the�easeho�d ar�d the fee
<br /> title shal�no�rn�erge un�ess Lender agrees�o�he merg�r�n writing.
<br /> Prate�t��n vf Len��r's R�ghts in th� Pr��erty. �f B�rrotiver fails t� p�rform �he covenants an.d �.greements
<br /> can�aine��n�hi�s Se�urity Instru�.ent, ar�here is a��ga�praceeding�hat ma�significantly affect Lender's r�gh�s in
<br /> the I'raperty �su�h as a praceed�ng in ban�ruptcy, pr�bate, for condemna���n or forfez�.u�re or to enfor�e �av�s or
<br /> regulatiflns�, �h.en Lender may do and pay f�r tivha��ver zs n�cessary to pr��ec� �he va�ue of the Frope�ty and
<br /> Lender's rights in the Property. L�nder's ac�ions rnay include paying any sums se�ured by a lien vvhich has�rior�ty
<br /> �ver�his 5�c�.r:�ty��strum�n�, appearing in caur�,pay�ng reasariable att��n��s'fees and entering on the Property�fl
<br /> make repairs.��I�hau�h Lender may�ake action t�nd�r this sec�ian,��nd�r�1oes no�have to do sfl.
<br /> Any amounts disbursed by Lend�r under th�s sec�i�� s�.all beco�e additi�ona� deb� of Borrow�r secured by this
<br /> Security Ins�ru:ment. Unl�ss Borrower and Lender agree ta a�her terms of pay�men.t, these amoun�s shail bear
<br /> inter�s� from. t�Ye �iat� �f disbursernent a� �he same rate assessed an adv�nces under th� �ontract and shal� be
<br /> pay�ble,vvi�h�nt�res�,upon n�tic�from L�nder��Barrower reques�ing�ayment.
<br /> �20�42D 15 CompIiance Systems,Inc.b 18A-B2B2-2�15.12.3.I.�115
<br /> �onsumer Re�Estate-Security Ins�rument�3L2�36 Page 2 of 5 www.�ompIiancesysterns.com
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