|
�_...� . , . . . . . .51...,_.�_�Y�1`1�'-` ,:- _.
<br /> �� .. . , . .: � 4 i ,1�' ( �• Y _� -�r '
<br /> . :yi'i�i'��w�S..Fc t� ._-;�,)�.. 1 1,� ���
<br /> f'"! }J;"'�'.�:fi+�==''
<br /> -s.,,.:.-°- --"es• - .�.r....�._..:.__.�_......,�..�....�. --
<br /> . . _—_..�...._..._. _.__------
<br /> _ - -
<br /> - ------- 97_ �p'�528
<br /> su6stantially cquivalenl man�usc rosurnnce covcragc is not uvailiable,Rurruwcr,In+lt p��y tn I.cndcr cuch muttth a stnU t�pla)to
<br /> ' one-iwelRh uf the ycurly mortRuge insurancc premium bcii�g pald by�orrowcr tivhcn thc insurun:e roverugc lupsrd ar cca�ed tu
<br /> � be in effect:l.ender will eccept,use and retain these puyment�uy a losr reservc in licu uf' nwrtgage in�uranre. l.�ss retierve
<br /> payments may na Inngcr be reyuired, at thc optinn of I.ender, if mortgugc imuranrc cuverngc(in thc umaunt nnd fi�r Nic perirxl
<br /> that L.cndcr rcquireti)pravidcd hy an in�urcr approvcd hy l.endcr c+gnin hc�umcs nv.�iluble and i.r�ihtuincJ. Huiruwcr�hull puy
<br /> the premiums required to mxintnin murtgagc insurunrc in cff'cct,or tu pravidc a lus. rc+crvc. until tl�c rec�uirrnunt for murtgagc
<br /> insurancc ends in urcc�rduncc with uny wri►tcn ugmenunt bctwcen Horruwcr and I.�ndcr�ir applicublc luw.
<br /> 9. Inspection. I.ender ur its agent may �nukc reusunublc cntries u�xai und intipcctiun�uf thc Pruprrry. l.endcr�hall give
<br /> Borruwcr naticc.it thc timc c�f or prior to un insprc►ion tipccifying rca+unublc causc fur the ins{krtion.
<br /> 10. Candemnatlon.Thc pr�xceds of uny uwurd or cluim for dumagcs, direct nr romcqucntial, in runncction with uny
<br /> condcmnution or othcr taking of any pan of the Property,ar for runvcyuncc in licu of condcmnatiun. arc hcrchy ussigncd.md
<br /> shall bc paid tc� Lcndcr. -
<br /> In thc cvcnt af a total taking of the Property,the pr�xecds sh�ll bc upplic,�l tu the sums secured by this Secur►ty lnstrumcnt,
<br /> whether or not then due, with uny excesti paid to Borrower. In the event of a partial taking af the Praperry in which the fair
<br /> market value ot the Property inimcdiutcly bcfi�re thc taking is cyual w or greater than thc amuunt of the tiunn securcd hy this
<br /> Sccuriry]nstrument immcdiutely before th�taking,unless Borrower and L.cnder othenvi�e agree in writing,thc.wns secured hy
<br /> this Sccurity Instrumcnt shuU be reduced by the umount of the proccc:ds multiplied by the faUowing fruction: (u) thc totul
<br /> ;unount of thc sums secured immediatcly before the�.aking, dividcd by (b) thc fa�r market valuc of tlu Propeny immcdiatcly
<br /> befnre the taking. Any balance shall be paid to Borrower. In the event of a partial taking uf the Praperty in which the fair
<br /> market value of the Prapert�� immediatcly before the tak�ng is less than the umount of the sums secured immediately before the
<br /> taking, unless Borrower and Lender othcrwix�agrce in wnting or unlc�s applicablc law othenvisc pravides, the pracceds +hall
<br /> be applied to the sums tiecured by this Securiry In.trument whether ur nat the sums are then due.
<br /> If the Propcny is abandoned by Barcowcr,or if,after notic�by Lender to Borrower that the c<mdemnor offerti tc+makc un
<br /> uward or seule a cluim for damages, Borrower fails to mspand ta I.endcr within 30 days aftcr the dutc the notice is given.
<br /> Lender is authorized to collect and�pply the pruceecis,at its opnon,eitherto restoration or repair of the Praperty or to the sums
<br /> sccumd b��this Security Instrument, whether ur not then due.
<br /> Unless Ixnde►• and Bonou�r otherwisc agme in urciting, any application of pmceeds to principal sh�ll not extend or
<br /> postpone the due date of the monthly paymcnts refcnecl to in paragraphs I and 2 or chanse the umount of such payments.
<br /> 11.Borrower Not Released;Forbearance By Lertder Not a Waiver. Extension of the time for payment or modification
<br /> of amortization of the sums secured by this Security Instrument grantcd by Lender to any successor in interest af Burrower shall
<br /> not opernte to release the liability of the o�iginal Borrower nr Bonower's successors in interest. L.ender shall not be required to
<br /> commence proceedings against any successor in intemst or refuse to extend time for payment or otherwise modify a�norttu►tion
<br /> of the ,ums secured by this Security Instrument by reason of any demand made by the original Borrower or Banowcr's
<br /> successors in interest. Any forbearance by Lender in exercising any rtght or remedy shall not be a waiver of or preclucle the
<br /> exercise of any right or remedy.
<br /> 12. Successors and Asstgns Bound;Jotnt and Several I.Iability;Casigners. The covenants and agreements of this
<br /> Security Instrument shall bind and benefit the successars and assigns of Lender and 3oROwer, subject to the provisions af
<br /> paragrnph 17. Borrower's covenants and agreements shall be joint and several. My Borrower who co-signs this Security
<br /> Instrument but does not execute the Notc:(a) is co-signing this Security Instrumcnt only to mortgage, grant and convey that
<br /> Borrower'�inierc�i iu tiie Fw{x�iy uji�ic�t i�icrm;of ih„r:.:.;:^.�:as:^.'•"•:::•^•;: Lb? i`-n^t F"r�^tt�lly nhligatrxl t� �ay the sums ,
<br /> secured by this Security instrument; and(c)ugrees that L.ender and any other Borrower may agree to extend, modify,forbear or
<br /> make any accommadatians with regard to the terms of this Security Instrumcnt ar the Note without that Borruwer's consent.
<br /> 13.Loan Chary;es.If the loan secured by this Security Instrument is subject to a law which sets maximum loan cl�arges,
<br /> and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> loan exceed the pernutted limiu,then: (a)any such loan chArge shall be mduced by the amaunt necessary to reduce tha charge
<br /> to the permitted limir and(b)any swns already collectcd from Honower which excceded pernutted limits will be refunded to
<br /> Borrower. Lender may choose to make this refund by reducing the princip�l owed under the Note or by making u direct
<br /> payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepuyment without any
<br /> prepayment charge under the Note.
<br /> 14.Nottces.Any notice to Borrower provided for in this Security Instrument shall be�iven by delivering it or by mailing
<br /> it by first class muil unless applicablc law requires use of unother method.The notice shull be directed to the Property Address
<br /> or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to
<br /> L.ender's address stated herein or any other address Lender designates by notice to Borrower. Any notice pravided for in this
<br /> Security Instrument shall be deemed to have been given to Borrower or L.ender whcn given iu provided in this puragraph.
<br /> 15.Governing Law; Severabllity. This Security Instrument shall be govemed by federal law and the law of the
<br /> jurisdiction in which the Propeny is locascd. In the event that any provision or clause of this Security Instntment or the Note
<br /> conflicts with applicuble law, such rnnflict shall noz affec[other provisions of this Security Instrument or the Note whieh can be
<br /> given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared
<br /> to be severuble.
<br /> 16.Borrower's Copy. Barrower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> 17.Transter of the Property or a Beneficinl Interest in Borro�ver,If all or any part af the Pinpeny or any lnterest in it
<br /> is sold or transferred(or if u benefici�l intcrest in Borrower is sold or transferred and Sorrower is not a natural person)without
<br /> Lender's prior written consent, Lender may. at its option, require irnmedinte p�yment in full of all sums secured by this
<br /> Security Instrument.However,this option shall not be excrcised by Lender if exercise is prohibited by federal law as of the date
<br /> of this Secnrity Instrument.
<br /> If Lendcr exercises this option, Lender shall�ive Borrower notice of acceleration. The notice shall providc a periad uf not
<br /> less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this
<br /> Security Inswment.If Borrower fails to pay these sums prior to the expiration of this period, Lender muy invoke any remcdies
<br /> permitted by this Security Insttument without further notice ar dema��d on Bonower.
<br /> 18. Borrower's Rlght to Reinstate. if Borrower meets certain conditions, Borrower shall have the right to huve
<br /> enforcement of tliis Security Instrument discontinued at any time prior to the earlier of: (a) 5 duys (or such other period as
<br /> applicable Inw may specify for reinstatement) before snle of the Property pursuan[ to uny power of sale contained in this
<br />- Security Instrument;or(b)entry of a judgment enfoming this Securiry Instrument. Those conditions are that Bonower:(a)pays
<br /> Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had accurred; (b)
<br /> cures any default of any other covenants or agreements;(c) pays all expenses incurred in enforcing this Security Instrument.
<br /> including, but nut liniited to, rwsonable altorncys' feeti;und(d) takes such action as L.ender may ret�sonably require to assure
<br /> that thc lien of this Security Instrument, Lxnder's rights in the Property and Borcower's obligation tu pay the sums secured by
<br /> this Security Instrument �hall continue unchanged. Upon reinstaternent by Borrower, th�s Serunty Inst►vment and the
<br /> obligations secureci hereby shall remain fully effective as if no acceleration had occurred.However, this right to rein�tate shall
<br /> not apply in the cuse of accelemt�on under paragrapn �7.
<br /> = 19. Sale of Note; Chunge of Loan Servtcer. Thc Note or a p�utial interc�t in the Note (togethcr with this 3ecurity
<br /> � [nstrumcnt)may bc so{d onc or morc timcs w�thout prior noticc to Burc-awcr. A satc may rcsult in a changc in thc entity(known
<br /> ' as thc "Loan Serviccr")that collccts munthly payments due under thc Notc and this Sccurity Instrument. There also may bc one
<br /> _ ur more changes of Uie Lnun Servicer unmlutecl to a s:ile of the Note.If there is a change of the Loun Servicer,Bormwer wiU be
<br /> = given written notice of the chunge in accord�nce with paragraph 14 above and uppliwble law. The notice wiU state the name and
<br />
|