|
1
<br /> .�
<br /> .` 17. , '
<br /> Jv4. " .. :Yt��_
<br /> . . n i i ' ' . - •_ -�_
<br /> . . . ' •. M�CS�fIP.:� .
<br /> . .. ... •.1�.i�=;�i��t.:
<br /> „ • '
<br /> �'
<br /> , „
<br /> � .'ji.
<br /> 97-� 1o'�s�s9 �
<br /> � paymcnts may no longer ba rcquired,at tha option of L.cnBcr,If mortgagc Insurana:covcregc(ir►thc amount and for tlic perbd
<br /> � that L.cndcr requires)provlded by an lnsurcr approvcd by Lcnder aguin bocomcs available nnd ls obtained.aarrower shall p�y thc �
<br /> 1 premiums rcquircd to mnintain mortgage ir�suranca in cffcct, or to provide a loss reserve. unW thc rcquircmcnt for �nat8ago t
<br /> `' Insurance ends in accordance with any written egreement betwcen Bormwer and L.ender or nppllcnble Iaw. �
<br /> 9.InapecNon. L.ender ar its agent may makc reasonablc cntries upon and inspcctions of thc Propccty. i.endcr shdl givc =
<br /> „"�"°"�� Borrower nodca stt tho time of or pdor to an inspocdon specifying rcasonablu cause for the inspecdon. =
<br /> ' .`"'"'""'� 10.Condemnation. 'ITie proceeds of any award or claim far damages, direct or consequentinlal, In connecdon wi�h any
<br /> condemnadan or other taking of any part of the Property.or for conveyance in Ileu of condemnadon,are hereby assign�d And �
<br /> ,;; shall be paid to Lcnder.
<br /> ' + In ihc cvent of a wtal taking of the Property,the proceeds shell bc applied to the sums sccured by this Sccurlty Insw►ncnt,
<br /> whcthcr or not thcn duc,with any excess paid w Banrower.In the cvent of a partial taking of thc Property in which thc fnirmarket
<br /> value of the Property immediately bcfore the teking is equal to or greater than ihe amount of the sums securcd by this Sccuriry
<br /> Insuument immediately before ihe taking, unless Borrower and Lendcr ot�crwise agree in wrldng, thc sums socured 6y this
<br /> Securlry Insuument shall be reduced by the amount of tha proceeds m�ldplled by the following fraction: (a)the total anaunt of
<br /> the sums secured immediately bcfore tho taking,divIded by (b)the fair market value of thc Propea�ty imrnediately betae the =
<br /> teking.Any balance shall be paid to Bomower.In the event af a pardal tsking of tha Property in which the feir market valueof the
<br /> Propertyr Immediately beforc the taldng is less than the amount of the sums sccured immediately before the taking,unless
<br /> Borrower and Lcnder othcrwise ayree in wrIting or unlcss applicable law othcnvise pmvidcs,the procecds shAll be applied to the
<br />•�.,;�•', ,, sums secured by this Security Instrument whether or not the sums are then due.
<br />_ If the Propexty is abandoned by Borrower,or if.efter noHce by Le.nder w Borrower that the condemnor offers to make en
<br /> ' .'.i� �± award or seule a claim for damages,Bomnwer fails to respond to Lenda within 30 days aftcr the datc the noace is given,Lerdcr
<br /> Ls authorized to collect and apply thc proceeds,at its opdon,either to restoradon or repair af the Property or to tha sums axured
<br /> � by this Securiry Instrurnent,whether or not then due.
<br /> ' Unless L.ender and Borrower otheivvise agree in wrldng,any npplicaflon of proceeds to principal ahall not extend or posl�ane
<br /> the due date of the monthly payments referrecl to in paragraphs 1 and'Z or change the amount of such payments.
<br /> 11.Borrower Not Released;Forbearance By I.eader Noi a Waiver. &tension of the tirne for payment or modi6cadon
<br /> , ���`�` '= of amocdzutton of the sums secumd by this Securiry Instrument granted by Lender to any successor In interest of Sorro�ua shell
<br /> +� not operate to release the liability of the original Borrower or Borrower's successors ln inceresG I-ender ahell not be reqidred to
<br /> '.� � commence proceedings ugeinst any successor in interest or refase to extend dme for payment or otherwise modify amortiza�i�n of
<br /> _'.'�`,�,�.k;;;, the sums secured by this Securlry Instrument by reason of any demand made by the original Borrowpr or Borrower's sucoGSSOrs
<br /> _-�'���'^'•" in interesG Any forbearance by I.ender in exercis�ng any right or remedy shall not be a waiver of or preclude the exacl�e of any
<br />- _,�.iy.�.`•.', r�ghtornmedy.
<br /> �,`�l�� lx.5ucceasora And Assigns Bound;Joint and Several LiabiUty; Casigners.'I7�e covenants and ag[oementa ot this
<br />�_�'�"'���`� � Securlty Insuument shall bind and benefit the successors and assigns of I.endu and Borrowu. subject w the provi�ons of
<br />_^"�:"'�«�.,, � paragraph 1?. Borrower's coven�nts and agreements ahall be foint and several. My Bomc►wer who co-slgn� this Sauriry
<br />- ___.;°� Instrum�nt but daes not eaxute the Notc: (a) is co-sjgning this Security Insorument only to raortgage.grant end convey thet
<br /> -_-- Barowu's intuest in the Propeny under Ihe tums of this SecurIty Instrumen� (b) is not persoually obligated to pay tla sums
<br /> securod by this SocurIty Instrument; and(c)agrees that Lender and any othu Borroaa rtwy agroe to eatead,roodify,fo�tar or
<br /> _ �', make any accommadadons wIth ngard to Ihe tums of this Securlty Insnvment or tha Note without diat Borrowu's consent
<br /> 13.I.o�n C6u�es. If the loan ax�red by this Securlty Ynstmment La subject to a law which aets�maximum loen durges,
<br /> _ and that law is finally interpreted so that the intemst or otha loan charges collect,ed or w ba collocted in connecdon with Ua loan
<br /> excoed the peimltiod limits.then:(a)any such lcwn cherge shall be red�ced by tha amouat nvicessary to reduca the char$oto the
<br /> -- pecmiued Wn{t;end(b)any sums elready wllected from Borrower which eaccooded pe,�miuW limlts wW be nfundal W Sortowa.
<br /> � . Lender may choose to make this refund by reducing the principal uwed unda the Note or by malcing a diroct paymast to
<br /> Borrower. If a rcfuad nduces priancipal, thcs reducdon wlll be treated av a pe�tial prepaymenc without aay pnpayment chargo
<br /> •�•, under the Nou.
<br /> �� 1�.Notia,t. My notice to Borxowa pmvIded for in this Sccnrlty Instiument shall be given by delivutng it or by rm�ing it
<br /> by first class mail wdess applicable law roquires usa of snodier method.The nodce shall be cflroctcd to the Propaty Address or
<br /> any other eddress Bonowcr designates by noticc to Lender.My nodce to Leader shell be given by fitst ela�,t tnail w I,rnda's
<br /> --�..i � address atated hcrein or eny othu addres.c Lender designates by notico to Bomower.Any noticce provided fa In thLs Security
<br /> - - Instrument shall be doemed to have been given to Borrower or I.endu when given a�pmvided la this paragraph.
<br /> -��� 15.Governing Law;Severa6Uity. 'Ihis Security Insorument shall be governed by fedual law end U�e law of the
<br /> :��:a..
<br /> �:_n�,� jur3sdicdon in which tha Property is located.In the cvent that any pmvLgion or claus�of this Security Instrument or ttie Note
<br /> ,-_-'�;� , confllets with applicable luw,such cont]ict shall not affect other provLvIons of this Securlty Instrument or tha Note which can be
<br />
|