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202401574
<br />Funds to pay the Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds
<br />and Applicable Law permits Lender to make such a charge. However, Lender may require Borrower to pay a
<br />one-time charge for an independent real estate tax reporting service used by Lender in connection with this loan,
<br />unless Applicable Law provides otherwise. Unless an agreement is made or Applicable Law requires interest to be
<br />paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender
<br />may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without
<br />charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which
<br />each debit to the Funds was made. The Funds are pledged as additional security for all sums secured by this
<br />Security Instrument.
<br />If the Funds held by Lender exceed the amounts permitted to be held by Applicable Law, Lender shall account to
<br />Borrower for the excess Funds in accordance with the requirements of Applicable Law. If the amount of the
<br />Funds held by Lender at any time is not sufficient to pay the Escrow Items when due, Lender may so notify
<br />Borrower in writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the
<br />deficiency. Borrower shall make up the deficiency in no more than twelve monthly payments, at Lender's sole
<br />discretion.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. If, under the section titled Acceleration; Remedies, Lender shall acquire or sell the
<br />Property, Lender, prior to the acquisition or sale of the Property, shall apply any Funds held by Lender at the time
<br />of acquisition or sale as a credit against the sums secured by the Security Instrument.
<br />Application of Payments. Unless Applicable Law provides otherwise, all payments received by Lender shall be
<br />applied: first, to any prepayment charges due under the Secured Indebtedness; second, to amounts payable under
<br />the section titled Funds for Taxes and Insurance; third, to interest due; fourth, to principal due; and last, to any
<br />late charges due under the Secured Indebtedness.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in section titled Funds for Taxes and Insurance, or
<br />if not paid in that manner, Borrower shall pay them on time and directly to the person owed payment. At the
<br />request of Lender, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)
<br />contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any
<br />part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br />including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain
<br />coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
<br />Property in accordance with section titled Protection of Lender's Rights in the Property.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice
<br />to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if, in Lender's sole discretion, the restoration or repair is economically feasible
<br />® 2004-2022 Compliance Systems, LLC 192a2ca4"16e81dad - 2022.70.0.3
<br />Consumer Real Estate - Security Instrument DL2036 Page 3 of 9 www.compliancesystems.com
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