|
�w r:.��.� • `�1 • - � • . • . .
<br /> :� .._ . . .� . .� ..
<br /> ..
<br /> �
<br /> �,. . . . � � .;� �.�� . . . .. . . . _.
<br /> T.. . . ... . . .... .. . y. .... . .... .. . ; . . . . . .
<br /> at the option c>, 1_.ender, if mnrtgage insurance covpfage (in the amot�nt and for the �eriod that L,endcr requirac)
<br /> pred•ideci by an insurer approvecl by I,ender again C�xom�s e�ailable and is obtaincd.Bvrrower shall�y the premiwms
<br /> required to maintain rhortgage insurance in affect,or to prpr•ide a loss reserve, until :he requirement fnr mortgage.�
<br /> insurance ends in accordr�ncc with any written agreemcnt between$orrower and[�ender o:•�pplic:►ble law.
<br /> 9. Inspcction. I,ender or its agent rnay makc reasonable entries upon and in.specZions of the Pmpe�rty.Lender shall�
<br /> ; give IIorrower notic�at thc time ot nr prinr tn an inspectinn srecifying reasonable ca�,tie f�r the ins�ectian.
<br /> e
<br /> i0. Cundcmnation.The proeze.�s of any a«�ard ar claim ior damag�,direct or consequential,in conncw:tian with~ '
<br /> any c�pnc�emnation c�r other taking of any part cf the Property,ar far cnnve}ance in lieu of eondemnation,are hereby�,
<br /> assigned and shall be paid tn I�ender.
<br /> In the evenr.nf a taT,�l taking of ihe Property', thc prcDCeeds shal! be applied tn thc sums secured by this Security�
<br /> Ir,strisment,whettaer n,not then due,n+ith any exc�s paid to Bor;ower,In the event of a partial taking of the Prpperty in(�
<br /> whiclt the fair market value of the Prdperty immediately before the tzking is equal to or�reater than the amount o[the
<br /> sums secured hy this Securitp Instrument imrrsediately before the taking,unless Aarrc�ner and P.ender vtherwise agree
<br /> in writing,?li�surrts secured by this Sccurity Instrument shsll be reduced by the amount of 2he proceeds multiplicd by
<br /> the foilasving fractinn: (a) the tntal amnunt of the sums secured immediately before the taking,divided by (b) the fair
<br /> r,-sar4;et valuA af the Property immediateiy before!h,e tak:ing.Any balance sh�ll b�paid to Borroaer. tn the event nf a
<br /> partial taking of tlie Prc�perty in ahi�.h ti�e fair market vailue of the Propert}�immediatels before ehe taicing is less than
<br /> the amount pf the sums secured immediatcly before the taking,unless Rorrvwer and Lender otherwise agree in xrit.+ng
<br /> or unless applicable law otherwise provides, the proce�ds sha11 Ue appiied tn the sums secured by this S�urity '
<br /> Instrument�vfiether or not the sums are then dua. '
<br /> If tha Prvperty is abandonP,d b�• $orrower,or if,sf4��r nutice by I,ender to T3orroa�er that the condemnor offers tp
<br /> make an award or scttle a clai:n for damages, �iorrower fails to respond to C.ender within 30 dayN after thc dste the
<br /> notice is gi�-en,Lender is authorized to collect an�a�ply the proc:ceds,at its option,either to restaration or repair of the
<br /> � Property ar to the sums serured b�this Securitp Instrument,whether or not theq due.
<br /> Un!ess I.ender and 13orrower otherwise agrer,in writin�,an}'applicatipn vf proceeds tp principal sha11 not extend or
<br /> pc�stpnne the due date of tf�e monthlp pa}ments refetreit to in paragraphs 1 and ? or ctiange the amount of r.uch
<br /> � payments.
<br /> I I. F3orro�ver i�1ot Relessed; F'arbearance By Lcndcr Not a �'�'"aiti�er. ��ctension of the time for payment or
<br /> modification of amortizatiort of the sums secured by this Secu;ity Instrument granted by Ltnder to any succes.�or in
<br /> i�terest of i3orro«�er shsi; r�ct operxte tn release the liability of the original $�rro�rer or Bocrower's successors in
<br /> ir.terest. Ler�der snal( not bA required to cpmmence proceedings against any succ�ssor in interest br refuse to extena
<br /> time for pa}•meG;t pr other�+�ise modif}'amortizatior,nf 4he sums secured by this Securit}'Instrument by rea,son af any
<br /> dernand made b}•the original $�rrn'�'er nr Borrp�r�;'s s,��ce:sors in interest, r�ny forbearance by I.ender in exercising
<br /> any ri�tit nr remed}�shalf not be a�vaiver of or precludc che eyercise of�ny right or remedy.
<br /> 12. Successors and Assigns I3ound; joint and 5e�•cral Liability; Co-signcrs.l'he co�•cnants and agreementa
<br /> of tFii� 5ecu,°it� lnstrument sha!1 bind a�,u benefit the succe.�ors and asigns n" Lender and 17orrower, subjec. tn the
<br /> prn��isions�f paragrap}� 17.Borrower's cor•enants and agccements shall be joint and several.An}•T3orrow•er who ca-signs
<br /> this Secu:it}• Instrument but dces nat eser.ute the Note: (a} is co�signing this Security Instrument only to mortgage,
<br /> grant and canti•ey that Barro�•er's inter�t in the Property under the terms.af this Security Instrument; (b) is nr�t
<br /> �rscmall}• obligated to pay the sums sec�yrod My this 5ecurity Instrument;and (c) agrees that Lender and any other
<br /> Dorro��cr may agree to estend, mndify,forbear or make any accpmmodatinr,s with regard tv the terms oP tItis 5ecurit}�
<br /> Ins*.rument or the Notc cvithout that Iiorrn�r•er's consent.
<br /> 13. Loan Chacges. If the�oan se�:ured by this Security Instrument is s�tbject to s law which sets ma!timum laan
<br /> charg�, and that law is finally interpreted so that the interest or other Ioan charges collectec3 or to lx collecte:d in
<br /> connection with tha loan exceed the permitted limits, then; (a) any such loan charge shall be reduced by the amount
<br /> necessary to reduce the charge to tha permittecl limit; and (b) any sums already cnllected trpm Borrower which
<br /> exceeded permitted limiis �vil( be refunded to Ijorro�wr,r. Lender may chno�e to make this refund hy reducing the
<br /> principal owed under the Note or by making u direct payment tq Borrower.If a refund•reduces principal, the rerjuction
<br /> will be treatnd 2s e partial prepnyment without any prepayment charge under the Note,
<br /> 14. Notices.Any natice to Borroxvcr provided for in this Security Instriament shall t�r given by dclivering it or by
<br /> mailing it by first class mail unle.�applicable law requires i�se of another method,The notice shall be directed to the
<br /> Pra�rty Addrey�nr any other address$orrower desigpates by notice to L.ender.Any notict to I,cndcr sha11 be gi�•cn by
<br /> first class mail to Lender's addr�s stattd hecein ar any oth�r addr� I,ender d�ignates by notice to Borrower. Any
<br /> notice provided fnr in this Security Instrument shall t>e deemed td have been gi•✓en to Borr�n•er or I.ander when given
<br /> as prov�ded in this paraaraph.
<br /> IS. Gvverning I,a«•;Se�•crability.'1'his Ser,urity Inst:vmentshall be gm�erned b}• federal laµ•3nd the law of the
<br /> jurisciictiori in�+�hich the Yroperty is l�cated.In the event tPrat�ny provisinn or elause nf this Security Instrument or thc
<br /> Note contlicts t�•ith�pplicablc law,such cr�nflict sh�ll not aFfect�ther provisiona nF this Securit}•Instrument nr the Note�
<br /> which can bc given effect with�aut the conflicting provisic�n.To this end the provisions of this Scw.urity Instrument and
<br /> thc Nc>ce are dcc[ared tr�k,c sc��erable.
<br /> �-BHlN�lia+on,oi Ferm 702t 4/9D
<br /> P�r•+ .� e
<br /> Initl�l��x��.�� '•�r�
<br /> w
<br />
|