Laserfiche WebLink
2� 17�2473 <br /> Payment of Pr��n��pa�and I�terest; t7t��r Charges. Borrower sha�l promp��y pay vsrhen dt�e the principa�of and <br /> interes� on �:he deb� oured t�nder the �o�ztra�t and la�� charges or any ather fees and charges due under the <br /> Contra��. <br /> Appli�abi� Lavv. As used in �h.is Secur�ty �nstrument, �he ��rna �aApplicable La�r" shal� mean aI� control�ing <br /> appli�ab�e f�,deral, sta�e ancl 1ocal sta�utes, regula�ions, �rdinances a�.d administrative rules ar�d or�ers (that have <br /> �he effec��f lativ} as�vel� as aXI applica�a�e�nal,n�n-app��lable jud�cial opinians. <br /> Charges; I�i�n��. Borrower �ha�l pay all taxes, assessr��n�s, charg�s, fines and �mposi�io�s a�tributab�e to the <br /> Property tivh:ic� may at�ain priori�y flver�his Se�urity Ins�rume�.�, and I�aseh�Id payments or ground ren�s, �f an�. <br /> At�he reque�s�of Lender,B nrrower sha�l prQmp��y fi�rn�sh to L�nd�r receip�s evidencing the paymen�s. <br /> Borro�rer shal��a�omptly dz:�charge any Ii�n tivh�ch has�ri�ri�y�v�r thr� Security Instrumerit unles� Barro�ver: ��� <br /> agrees in w��i�i�g t� the paymen� of the obliga�i�n secured by the I�en in a manner acceptabie t� L�nder; �b} <br /> can�ests in €;ood faith the 1:ien by, or def�nds against enforcement of�he ��en i.x�, �ega� proceeding� vvh.�ch ir�the <br /> Lender's �pinic�n flpera�e �cr preven� �h� �nforcemen� of�he �ien; �� �c� s�cures fram �he holder �f��1� lien an <br /> agreemen� s�.�isfac�ory to L�nder subordina�ing the lien�o�h�s Security Ins�rument. �f Lend�r determin�s tha�an� <br /> par�af�he Proper�y is subj��ct to a I�er�v�rhxch may at�aua pr��rity o��r�h�s Security Instrument, Lender may gi�e <br /> Borrower a��ntice identifyi�ig tihe lien. Barra�ver shall s�tisfy�he �ien or ta�e one �r mare of�he actians se�for�h <br /> abov�with�n� 1(]days of�he giving�f nfl�zce. <br /> Hazard flr�'ra�p�r�y Insura�c�, Borravver shal��eep �he zrnp�-o��r�en�s naw existing or hereaf�er�rec�ed on the <br /> Property�nsl�red agaYns�loss by fire,hazards included wi�hi�.the�ez�r�."ex�ended coverage" a.nd any vther hazards, <br /> including f1��acls or f�oodin.g, ftir �whi�h Lender requ�r�s insuranc�. This insurance sha11 be main�air�ed in �he <br /> amounts and for the periads tha�Lender r�qu�res. The�r�sura�ce carrier pr�vid�ng the insurance sha11�e chasen by <br /> Borro�ver subj��� tn Lende�•'s apprflval �vhich �ha�l not be u�reas�n�.bly vvithheld. If Borro�er fa��s �c: maintaz�. <br /> coverage described above, Lender may, at Lender's ���i�n, obta�n coverage to prfltect Lender's r�g:�x�s in the <br /> Property in a.ccr�rdance�vith se�tzon titled�Prot��tion of Lender's�tights in the Property. <br /> All insuranc�� policies and renewals shal� be accep�ab�e �o L�nder aa�d shal� in�lude a standard mortga�e c�ause. <br /> Lend�r sha��have �the right���h��d�he p�lz�ies and renewals. �f L�r�der requires,Borrov�rer sha�l prnmpl:�y give�� <br /> Lend�r a1I re;ce�ip�s of paid�r�miums and renewal notices. �n the event Qf loss, Borro,w�r sha�l give promp�no�i�� <br /> �v�he insur��lc�carrier and�L�nder.Lender may make pro�f of los�i�not rnade pramptly by Borraw�r. <br /> Unless Lend.er and Borrawe� otherwise agree �n v�rri�zng, insurar�ce praceeds sha1l be app��ed �� restr�ra�i�n or <br /> repair of the Proper�y dam�.ged, if, in L�nder's sQle d�s�retian, �h� res�ora���n or repair is e�flnomically feas�b�e <br /> and Lender's security is n�t�essened. �f, in Len.der's s��e d�s�retion, the restaration or repair is nat eco:nom�ca�ly <br /> feasi�le �r L.ender's securi�� �vould be Iess�ned, the �nsu�-ance prac�eds shall be app�ied�o �he surr�s s�cured b� <br /> this Security In.strum.en�, �vh�ther or no� then due, v�ith an�r exce5s �aid to Borr�vver. �f Barrav�rer aband�ns �he <br /> Property,❑r do�s r��t a�swe��u�thin the number of days pres�ribed by Applicab�e Law as set forth in a�a�ice from <br /> Lender�o Bc�rrov�er�hat th� insurance ca�ier has affered to �et�le a cla�m, then L�nder may co�lect the insurance <br /> proceeds. Lend�r may use �:h� proceeds �� repair or res���e th� Pr�perty or�o pay sums secured by �his 5ecuri�y <br /> �ns�men�, �avh�ther vr no� �hen due. Th� period of�ime for Bor��wer to ans�ver as set far�h in �he not�ce w�l� <br /> begin�vhen the r�otice is g�v�n. <br /> Un1es� Lend{�r�nd BorraWer��herw�se agree in wr��ing, an� applica��on flf pr�ce�ds ta prineipal sha�l not ex�end <br /> or pgs�pfln� ��he due da�e of�e payments due u�der�he Contract or change �he am�unt of�he paymen�s. If under <br /> �he se�t�on �it�e�d.A�ce�eration; Remedi�s, �h�Proper�y i� acquire�d by Lender, Borrntiver's righ�to any insurance <br /> polic��s and pr��ceeds result�ng from damage t� the Property pri�r �� the acqu�si�ion sha11 pass to Lender ta �he <br /> ex�en�of�h�su�ns secured by this 5ecur�ty Instrument�mr�ed�a�el�pri�r�o the a�quis�ti�n. <br /> Preservati��i, :�Iaintenance and �'rate�t�on �f the l�rop�r�y� �orrower'� L�an App���at�fln; Leasehoids. <br /> B�rr�vsrer sh���1 not des�roy, damage or i�pair the Praper�, allaw�h�Prop�rty to deteriorate, or commi�v�raste on <br /> �he Property„ Borrower sha:[� b� in defau�� if any forfeitur� a��ion �r praceeding, wh�ther civz� or criminal, �s <br /> b�gun�hat in L��nder's good fai�h judgment�au�d resu�t in fflrfe�tur��f the Property ar o�herw�se mater�a:[��impa�r <br /> �he lien crea��ed by �h�s Sec�rity Instrument or Lender's secur�.�y int�res�, Borrovver rnay cure such a d�;fau�� and <br /> re�nsta�e, as��r��vided in sec�i�n ti�led Sorrowe�'s R�igh��v l�eins���e,by causing the ac�ion�r proceed�ng to be <br /> dismissed v�-i�h a ru�ing �hat, in Lender's gaod faith de�ermination, prec�udes forfeiture of�he Borr�werTs in�erest <br /> in the Prop��-ty ar �ther mat;erial impairm�n� of the lien �reated b�r �his Security Ins�rument or Lender'� se�ur�fy <br /> interest. Bori•ourer shall a�s� be in defaul� if Barrower, d�r�rig �h� l�an application process, gave materia��y faise <br /> or inaccura�e informa�ion or��ta�em�n�s t� Lender ��r fail�d �o pr�vide Lender u�ith any ma�erial inforn�a�xon� in <br /> connectxan urith the Ioan ev��den�ed by�he �ar��ra�t. If��is S�curi�r �ns�rument is on a leasehold, Borr�wer sha�� <br /> comply vsrith all the pro�isio:r�s of the leas�. �f Barr�wer�cquires fe��itle to the Proper�y,�he leaseh�ld and the fee <br /> tit�e shall not m�rge un�ess L,ender agrees t�the rnerger in writing. <br /> P�otection ��f�:��nder's RY;��ts in the �'�operty. Yf Barrovver fails t� �erform the cvvenants and agreements <br /> contained in thi� Se�uri�y�nstrument, ❑r there is a�ega1 proceeding that rnay signifzcan�Iy affect L,ender'�rights in <br /> the Prape�-t� �st��h as a pro�;�eding in bankruptcy, proba��, far c�nd�xnr�ation or forfei�ure �r to enf�rce �aws �r <br /> regulations�, �h�n Lender nr.�ay da and pa� for whatever is nec�s�ary to pr��ect �he �alue of the Prfl��er�y and <br /> Lender's rights in�he Property.Lender's act�ons may include paying a.ny sums secured by a lien u�hich ha.s prior�ty <br /> �Ver th�5 S�C?urily InSt�Ltm�Ti�:, appearing��.court,paying r�asanable a�;tarneys' fees and en�erimg on the Pr�perty t� <br /> make repairs. A��though Lender may take�.c�ion under�h�s sec�ion,Lender daes no�have�o do��. <br /> Any am�unt�� dzsbursed by Lender under �his s�c��on shal� b�c�me addi�ianal d�bt �f Borro�ver se�ured by �his <br /> Security Inst:run�ent. Un�ess �orra�v�r and Lender agree ta other t�rms of paymen�, these amaun�s sha�� bear <br /> in�erest from �he da�e of di�sbursemen� at the same rat� assessed nrn ad�ances un�er the �an�ract and sha�� be <br /> payabl�,w�th in��e�est,upan�a.��ice from L�z�der�o Borrotiv�r reques�i�g paymen�. <br /> L�2fl��-201d CampIiance;�ysterr�s,Inc.cd�fc7�c-22eS7855-2416.230.�.8 <br /> Consumer Rea]Estate-Security Inst�ment DL2�3b Page 2 of 5 www,comp�iancesystems.coin <br />