|
' 'r 1.� ' � _ :� , �e�-v� � tTi _�.�--
<br /> � ,��r�w±,�.;� ` �:� . -. , r � --
<br /> c '�?m..i)� �o+'�'_'j'.QaQ��il,v i A� tt7u*��,��'.�.�f'ffi�:7:iC�s'_it8�1."..:::i:..:':i`:'_....._'3:n�.e..r .° —._. —
<br /> • subytuntiully cyuivulent mortgagc insururne covcrugc i�nut uvuilubic. l3urr��wcr shnll puy tu I.�udrr cach munth u sum cyu;d to
<br /> one-tvyelfth uf tlir yeudy nwnguge insuriuicc premium hein�paid hy 13ormwer when the insuruncr rovera�:¢lupscd nr ce:u:ed to
<br /> '� be in effect. I.ender wil� uccept,usc nnd retc�in►he�e puymeni,a� u lus.r rc+erve in lieu �if' martgube in+uraeice. I.�xs re�erve
<br /> pnymantti miry n�i Innger bc required.ut�he aptiun uC Lenacr. if mungugc imurunrc r�wcrngc(in thc nnwwu and fnr the period �
<br /> ttuU L.cndcr rcyuirc�)providcd Uy an in�urer apprnvcJ hy Le�tdor again hec�mic� uvuilahl�t�in�l is ohtaincd. l3urru��•cr vhall pay
<br /> � thc prcmiumti rcqui�cd tci muintain mortgugc inrurunrc in cffcct.��r to pruvidc a lu+ti rcurvc.until thr requircmcnt firr mortgugc �
<br /> inwrancc end+in a�rurduncc with uny writtcn agrcemcnt bct�vccn Hurm�ver and LcnJrr ur upplicublc law.
<br /> 4, lnspecNon.I.cndcr c�r itx a�.cnt muy mukc rcaisonublc cntric+upun und in.pertian�nf thc Property. L.cnJcr shull givc �It. _
<br /> • Borruwcr notice at thc timc ut'or priiir u�un in,pcctiun tpecifying rcayunuhlc rautic f�►r�hr insp��tion. Q
<br /> 10. Condemnatlon.The proceedti of uny uwarJ or cluim thr dumu�!c..Jirert i�r ronscyuentiul, in connection with any
<br /> cnndermniitic;n�r i�ther t.�kin� uf uny purt uf thr Propcny. nr fi�r cnnvcyuncc in 1 icu ��f rimdcmnation. arc hcrcby u�signed and c
<br /> shull be puid to I.�ndcr.
<br /> In tlie eve»t�t'a total taking of the Propeny. ehc proreecis shull be applied tc�the.umti,ecurcd by this Security Intitrument,
<br /> whcthcr or not then due,with any cxcess puid to B<�rrnwer. In thc cvunt uf u patrtiul taking of thc Pr�iperty in which the fuir
<br /> murkct valuc uf the Prnpeny immcJiatcly beforc thr taking in cyuul tu��r grcatc r thun thc amount of the,um+scwred by this
<br /> Securiry Intitrument immeJiately hef��re the tuking, unles+ Borrower and Le�nder c�therwitie agree in writing,thr�umti secured by
<br /> thi� Security instrunxnt shall b� redd�ced by [he arYUwnt nf the proceeJs multiplieJ hy the foll<�wing fraction: (a) the total
<br /> amount of the +ums serurcd immediazely befare thr tuking. diviJed by (b) the fuir murkct vulue of'the Prc�peny immediately
<br /> beforc the tuking. Any balanre sh�l! t,e paid to Borrowcr. In the cvcnt uf u purtiul luking uf thc Pmperty in which the fair
<br /> market vuluc of the Prm�crty immediutcly heforc the takin�is Ic+s thun the anwunt of the swns secureJ immediatcly befi�re the
<br /> taking, unlesti Borruu•er and L.ender i�therwi�e agree in wrnmg nr unletis applicable la�v c�d�envise pro�•ides, the pr�.�cerd+shall
<br /> be applied ta the sum�sccured by thi� Sccurity In.trurnent whether ur not the sums arc thrn due.
<br /> (f the Propeny is abandaned hy [3orrower,c�r if,a(ter notico hy T,�nder to Borre�wer that the eondemnor affers tu mtike an
<br /> award ur ;enle a clmm fnr dum.►ges, Bc�rrower fails tn respond tc� Lender within 30 days F��tt;r the date the notice ia �iv�n,
<br /> Lender is authorized tn coll�ct and npply che proceeds,ai its option,either to restoration or repuir of the Property or to the sums
<br /> sa:cured hy this 5ecuriry Instniment,�vhcthcr or not thenduc.
<br /> Unless Lender and B�rrmver otherwise agree in writing, uny application ot' proceedt to principai shali not extend or
<br /> postpone the due date nf tlie tnonthly payments referred to in para�ruphs 1 und 2 or chunge the umount of such payments.
<br /> 11. Borrowcr NoE Released;F��rbearunce By I.endcr Not a Waiver.Extension of the time far payment or mcxiificution
<br /> uf aniorti•rntion of the sums secured by this Security Instrument grunted by Lender to any successor in interetit of Borrower shall
<br /> not operate to releasc thc liability of thc original Burrowcr or Barrower's succes�ors in interest. Li:nder shall not be required to
<br /> rommence proceedings aguinst any sucreslor in interes�or refuu tu extend time for puyment or otherwixe modify amortiration
<br /> af the sums securecl by this Security In,trument by re:s�un of any demand n�ade by the ori�inal Borrower or Borrower's
<br /> successors in interest. Any farbearance by [.enJer in cxercisinF uny right ur remeciy shall not be u waiver of'or preclude the
<br /> exercisc of any ri�ln or remedy.
<br /> 12. Successors and Assl�ns Bound;Juint and Several Liubility; Co-signers. Thc covcnants und agreements of this
<br /> Securiry Instrument shall bind und benefit the successors and aysigns of l..ender and Borrower, subject to the provisions of
<br /> paragraph 17. Bonower's covenants and agrccments shull be joint and sevcral. Any Borrower who co-sigus this Security
<br /> .a�trumcr:bLi�t2es:!'�L CYCr�tr thr N�,te: (a) iti co-sienine this Secuiity Imtntmcnt only to mortg�gc, grant and convey that
<br /> Borrowcr's interest in thc Property under the terms of ihis Security Instrument; (b) is not personauy obugutcA to puy[he sums
<br /> secured by this Securiry Instrument:xnd(c)agrees that[.ender nnd any othcr Bonower may ngree to extend. maiify,forbear or
<br /> make any accommodations with regard to the terms of this Security Instrument or the Note�vithout that Borrower's consettt.
<br /> 13. Loan Cherges.If the loan secured by this Security Instrument is subject to n law whieh sets mu�cimum loan chnrges,
<br /> and that law is finally interpreted so that the interest or other luan charges collccted or to be collscted in comiection with the
<br /> laan exceed the permitted limits, then; (a)any tiuch loan charge shall be reduced by the amount necessary to reduce the charge
<br /> to the permftted limit; and (b)any sums alrcady cullccted from Borrower which exccaled permitted limits will be refundcd to
<br /> Borrolver. Lender m�y chciose to mnke this refund by reducinR the principal owed under the Note or by making a direct
<br /> payment to Borro�ver. If a refund reduces princip�l, the reduction will be trcated :is a psrt�al prepnyment withuu� ru�y
<br /> prepayment charge underthe Note.
<br /> 14.Notices. Any notice to Borrowcr providcd for in this Sccuriry Instrument shall be given by delivcrins it or by mailing
<br /> it by first class mail unless applicablc law requires u�e oF another method. The notice shall be directed to the Property Address
<br /> or any other address Borrower designates by noti�c to i.cnder. Any notice to Lender shall be given by first c!ass muil to
<br /> Lender's addTess stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this
<br /> Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragrapl�.
<br /> 15.Govern[ng Law; Severabllity. This Security Instrument shall be govemed by fedoral Isw und the law of the
<br /> ' jurisdiction in which the P�operty is located. In the event that any provision or clause of this Sesurity Instrument or the Note
<br /> conflicts with appliceble law,such conflict sl�all not affect other provisions of this Security instrument or the Notc which can be
<br /> given effect without the conflicting provitiion. To this end the provisions of this Security Instrument und the Note are declared
<br /> to be sevcrablc.
<br /> 16.Borrawer'a Copy.Borrower shall be given one confomied copy of the Note und of this Security Instrument.
<br /> 17.Trunsfer o[the Property or a Beneficial Interest in Borrower. If al l or any part of thc Property or au►y intcrest in it
<br /> is sold or transferred(or if a beneficial intcrcst in Bonowcr is sold or tranaferred and Borrower is not a natural person)without
<br /> l.endcr's prior writtem m�sent. L.cnder may, ut its option. rcquire immeJintc payment in full of all sums sccured by this
<br /> Security Instrument.However,this�ption shall not be exercised by I.ender if exercise is prohibited by federul luw us of the date
<br /> of this Se�;urity Instrument.
<br /> [f I..ender exercises this option, l.ender shall give Borrower nutice of acceleration. The notice shall prnvide a period of not
<br />- less than 30 days from the dute the notice is delivereci or maileci within which Borrower must pay all sums secured by this
<br /> Sccurity Instrument.If Borrower fails to pxy thesc sums prio�to the cxpirution of this period, Lender may invoke any remedies
<br /> permitted by this Security Instrument�vithaut further notice or Jemand on Borrower.
<br /> - 18. Borruwer's Ri�ht to Iteinstate. [f Boi7awer meets certain conditions. Borrower shull have the right to have
<br />-- enforeement ot this Security Instrument disrontinucd at uny time prior to the earlier of: (u) 5 days (or such other period as
<br /> applicable la�v may spccify for rcinstatement) before sale of the Propeny pursuant tu uny power of ssile contained in this
<br /> = Security Instrument;or Ib) cntry of a judgmcn[cnforcing this Security Instrument. Those conditiom are that Bonower: (a)pays
<br /> Lender all sums tvhich then would be due under this Securit� Instrument and the Note tis if no accelerution had occurred: (b)
<br /> cures any default of any other rovenunts or agreement.: (c) pays ull expen+es incurreJ in enforcing this Security instrumen[.
<br /> - inc(uding, but not limitai ta,rca,onablc attornryti' f�ts; and(J) tak�+ such uction a, I.cnder may rru�unably rryuire to u,surc
<br /> _ that the lien of thia Security Inswmcnt. LenScr's righty in the Property anJ Borrower'�obligation to pay the sums secured by
<br /> - this Security Instnuncnt shall continuc unchanged• Upon reimtatement by Borrower, this Security Instrument and the
<br /> _.�.. _�_u �.. .. �:.u...,P�.�:va u.�f nn arrrlrr.uinn had occut7ed.HowCVCf, this rirht to minstete shall
<br /> ,� ODlls3[IOIIJ actiutcu uc�cvy a�m�a ..:o:.. .....� ........_.._.._.. .. .. . _ .
<br />,.� not apply in the case of acccleration under paragruph I7. _
<br /> ;� 19. Sale of Note; Change of Loun Servicer.Thc Note or a partial interest in the Notc (together with this Security _
<br />;� Inxtrument)may be,old one or more times without prior notice to Borrower.A,ale may rcsult in u change in the entiry(known =
<br /> as the"Loan Servicer")that colleets monihly payments due under the Note and this Security Instrument.There also muy be one
<br />•:� or more cl�anges of the Lc�an Scrvicer unrelatcd ti�a�alr of thc Nutc. If therc is a rhungc of thc Loan Serviccr,Borrowcr wil l be
<br /> given written notice of the change in acrurdance with paragr:�ph 14 above and applicable law.The notice will state the name and '
<br /> uddress c�f the new Lc�an 5crvirer and the address to which payments should be made. The notice will ulso contain a��y nther
<br /> informutiun rcyuired by applicable luw. �
<br /> 20. Hazardous 5ubstances. Bnrruwcr shull imt c:nutic ar pertnit thc pre�enre. use, disposal. storafic. ur rcicase of uny
<br /> H:uurciou+ 5ubstunces un ar in the F*��}xrty. Borrower shall n�n du, nor allow anyonc el�e to do, anythinE :t(fectinE the -
<br /> Propeny that iti in viulation of any Environment:�l l.aw.Thc pr��eding two scntcnccs �hall nut upply to thc pn�cncc, usc, or -
<br /> `, �torage on thc Property��t'small yuantitics vf Hazank�u�Substancex that arc �*rner.dly recognic�xi to bc appn�priatc t�� nvrmal
<br /> ,`� residential utic�undto maintcnancc ot'thr Pruperty.
<br />�� v,qo a��e Form 3028 9/80
<br />
|