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<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to
<br />any encumbrances o f record.
<br />Borrower and l,auicr covenant and agree as follows:
<br />Payment of Principal and Interest; Other Charges. Borrower shall promptly pay when due the principal of and
<br />interest on the. deht owed under the Contract and late charges or any other fees and charges due under the Conhact.
<br />Applicable Law. As used in this Security Instrument, the term "Applicable Law" shall mean all controlling
<br />appllcablC tL`dCC81, state and local statutes, regulations, ordinances and administrative rules and orders (that have
<br />the ci•fcct of law) as well as all applicable final, non~appcalable judicial opinions.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, tines and impositions attributable to chc
<br />Property which may attain priority over this Security Instra.nnent, and leasehold payments or ground rents, if any.
<br />At the request of laender, Borrower shall promptly furnish to Fender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument a.lnlcss Borrower: (a)
<br />agrees ir. writing to the payment of the obligation secured by the lien in a manner acceptable to I.cnder; (b)
<br />contests in good faith the lien by, or defends against enfiirccment of the lien in, legal proceedings which in chc
<br />L,cnder's opinion operate to prevent the enforcement of tl7c lien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lcndcr sLlbordinafing the lien to this Security Instrur7ieni. If Lcndcr deterirainc;s that any
<br />part of the Property is subject to a lien which may attain priority over this Sec~.lrity 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 />about within 10 days of the giving of notice.
<br />Ilaxard 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 LcnLter requires insurance. 'T'his insurance shall be maintained in the
<br />amounts and for the periods that L,endcr requires. 't'he 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 shove, 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 inchrde a standard mortgage clause.
<br />L,cruler shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to
<br />C.cndcr 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 />[Jnless Lcndcr and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair Uf the Property damaged, i1'thc restoration or repair is economically feasible and Lcndcr's security is not.
<br />lessened. If the restoration or repair is not economically feasible or [,ender'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 does not answer within the number of days
<br />precrihed by Applicable Law as set for'.h in a notice from Lender to Borrower that the insurance carrier haG
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair nr
<br />restore the Property or to pay sums secured by This Security Cnstrurnenl, whether or not then due. "I'hc period of
<br />time for Borrower io answer as set forth in the notice will begin when the notice is given.
<br />Unless Lender and F3orrowcr otherwise agree 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. I f under
<br />the section titled Acceleration; Remedies, the Property is acquired by laender, Borrower's right to any insurance
<br />politics and proceeds resulting from damage io the Property prior to the acquisition shall pass to Lender in the
<br />extent of the sums secured by this Security Instrument immediately prior to the acquisition.
<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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