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20�107157
<br />Claarges; �ie��. Borrower shall pay all taxes, assessments, charges, fines and impositions ariributable 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, �orrower shai_I promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptiy discharge any lien which has priority over this Secuxity 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 Instruuient. If F.ender determines that any
<br />part of the Property is subject to a lien which may attaui priority over this Security Instrument, L.ender may give
<br />Borrower a notice identifying the lien. �orrower shall satisfy the lien or take one or more of the actions set forth
<br />above within 10 days of the giving of uotice.
<br />�azar� or Pa Insufl•ance. 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 />includ'uig floods or flooding, for which �.ender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing We insurance shall be chosen by
<br />Borrower subject to Lender's approval wlucli shall not be unreasonably wittiheld. 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 P°ro�estimn �� L.endea-'� I2flghts an tla� Property.
<br />Ali insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to l:old the policies and renewals. If Lender requires, Borrower shall promptly give to
<br />Lender all receipt� of paid prenuums and renewal notices. in the event of loss, Borrower shall give prompt notice
<br />to the insurance carrier and I,ender. Lender may make proof of loss if not xnade 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 tl�e restoration or repair is economically feasible and Lender's security is not
<br />lessened. If the restoration or repair is not econonucally feasible 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 �orrower. If Borrower abandons the Property, or does 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.
<br />Unless Lender and �orrower 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. If under
<br />the section titled Aceel¢ra��on; I3�aeiedfles, the Property is acquired by L,ender, �orrower's right to any insurance
<br />policies and proceeds resulting from damage to the Property pxior ta the acquisition shall pass to Lender to the
<br />extent of the suins secured by this Security Instrument inunediately prior to the acquisition.
<br />P�eservaka��a, l�afln�ernan�e and Pr��ect��an of glae Y'rog��rty; �or�oa�er's �.oan Agaplieati�n; Leaseholds.
<br />Borrower shall txot destroy, damage or inipair the Property, allow the Property to deteriorate, or comnut waste on
<br />the Froperty. Borrower shail be in default if any forPeiture action or proceeding, whether civil or criminal, is begun
<br />that ui Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the
<br />lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and
<br />reinstate, as provided in section titled �orrovder°� g8i�hg to Y��imst�te, by causing the action or proceeding to be
<br />dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impainnent of the lien created by this Security Instrument or Lender's security
<br />interest. �orrower shall also be in default if Borrower, during the loan application process, gave materially false or
<br />inaccurate information ar statements to Lender (or failed to provide Lender with any marterial information) in
<br />connection with the loan evidenced by the Contract. If this Security Instrument is on a leasehold, Borrower shall
<br />comply with all the provisions of the lease. If Borrower acquires fee title to the d'roperty, the leasehold and the fee
<br />tit4e shall not mexge unless Lender agrees to the merger ui writing.
<br />�'rotection of I.e��er's i�ghts �n the ��op�rty. lf Borrower fails to perform the covenants and agreements
<br />contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in
<br />the Yroperty (such as a proceeding in bankruptcy, probate, for condemnatiom or forfeiture or to enforce laws or
<br />regulations), tlien Lender rnay do and pay for whatever is necessary to protect the value of the Property and
<br />Lender's rights in the Property. Lender's actions may inciude paying any sums secured by a lien which has priority
<br />over this Security Instrument, appearuig in court, paying reasonable attorneys' fees and entering on the Property to
<br />make repairs. Although L.ender may take action under this section, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this section shall become additional debt of Borrower secured by this
<br />Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
<br />interest fron� the date of disUurseniea�t at the sarne rate assessed on advances under the Contract and shall be
<br />payable, with u�terest, upon uotice from Lender to I3orrower requesting payment.
<br />Insqaectno�a. Lender or its agent may make reasonable eiitr.es upon and inspections of the Properiy. Lender shall
<br />give Borrow�r notice at the time of or prior to aii inspection specifynig reasonable cause for the inspection.
<br />CODIlQ��TT1HIl�tf1011 The proceeds of any award or claim for darnages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />u 2004-201 I Compliunce Systems, L�c. ADCD-D347 -?OIOLI.I5.461
<br />Consumer Real Gstate - Security Instrmnent D1.2036 Page 2 of 5 www.compliencesystems.com
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