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<br />PJlgc 2 01"7
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<br />02004-2007 Copyri,ghl COIl~}limll,:e Syslcms. Inc. D8IA-A9E5 - 2008.02.266
<br />COnSumer RCI:IIl-;state - Secutity lnslrumcnl llL2036
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<br />BOITower warrants and will defend generally the title to the Property against all claims and demands, subject to
<br />any encumbrances of record,
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<br />Borrower and Lender covcnant and agree as follows:
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<br />Payment of Principal and Interest; Other Charges. Borrower shall promptly pay when due the principal of and
<br />interest on the debt owed under the Contract and late charges or any other fees and charges due under the Contract.
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<br />Applicable Law. As used in this Security Instrument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinam:es and administrative rules and orders (that have
<br />the effect of law) as well as all applicable final, non-appealablc judicial opinions.
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<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 />At the request of Lender, Borrower shall promptly furnish to Lender receipts evidencing the payments,
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<br />BOITower shall promptly discharge any lien which has priority over this Sccurity 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 defcnds against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion opcratc to prevent the enforcement of the lien; or (c) securcs fi'om the holder of the lien an
<br />agreement satisfactory to Lender subordinating thc lien to this Security Instrumcnt. 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 gi ving of notice,
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<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 BOITower 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 I'rotection of Lender's Rights in the Property.
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<br />All insurance policies and rencwals shall be acceptable to Lender and shall include a standard mortgage clause,
<br />Lender shall have the right to hold the policies and rencwals, 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.
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<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not
<br />lessened, If the restoration or repair is not economically fcasible or Lender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Borrower. If Borrower abandons the Property, or docs not answer within the number of days
<br />prescribed by Applicable Law as set forth in a notice from Lender to Borrower that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds_ Lender may use the proceeds to repair or
<br />restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The period of
<br />time for Borrower to answer as set forth in the notice will begin when the notice is given.
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<br />Unless Lender and Borrower otherwise agrce in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of the payments due under the Contract or change the amount of the payments_ Ifunder
<br />the section titled Acceleration; Remedies, the Property is acquired by Lender, Borrower's right to any insurance
<br />policies and proceeds resulting fi'om damage to the Property prior to the acquisition shall pass to Lender to the
<br />extent of the sums secured by this Security Instrument immediately prior to the acquisition,
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<br />Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on
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