|
.. ol�':'ta r.rrr . ,r ..
<br /> �\!� .
<br /> _ ' � . . .. :�y �..
<br /> __" .. . _._�...�.'__ W.��.�_____._.._. .. .�Y YGLYa ,.
<br /> . _. _. ... . _ . ..__ �'�'_�_ .�...__ -__ _ _
<br /> .._ . . W— , ., ' " _ "" . ..-._�__
<br /> , '�!- .� �i.l�_ '�L ' ' _ ' '_
<br /> .E� kr�+:. . �; �.= � .. ---: . -,���
<br /> :ii:�1�iMMfMf1(���M�CtilMi�wrrw....�...•��X�lx%+l�k:w' , • . — -- `._..
<br />=`)i�:'i.
<br /> r.c:--
<br /> •, �'r.'Y � . --—
<br /> . � �,• -
<br /> LonN rro. 9769567 �T... ��.��86 °
<br /> • 8.Mortgpge lnsuranee. If Lender required mortgage insurance ne a condltion of making the lonn securcd by this
<br />- Sccuriry[nstrument,Battowcr shall pay thc premiums requircd to mafntain�he mortgagc insurancc in effcct.If. for s+r�y
<br /> reason,the mortgage insurance coverage required by Lender lapses or ceases to be in effect,Harrower shall pay the
<br />- premiums required to obtain cuverage substundally equivalent to the mortgage insurance previously in effect,at u cost :
<br /> substuntially equivalent to the cost to Borrower of the mortguge insurance previously in effect, from an altemate -
<br /> mortgagc Insurcr approved by Lcndcr. If suUstw►tially �quivalce►t mortgagc insurance covcrage is not availeblc,
<br /> ;;:�� Bonower shall pay to I.cndcr cach month a sum equal[o one-twelfth of thc yenrly mongage insurnncc premium being _
<br /> paid by Bonower when the insuranco coverage lupsed or ceased to be in effect. Lender will accept, use and retain
<br /> � thcsc payments as a loss reservc in lieu of mortgage lnsurance. Loss rescrve payments may no longcr be required,nt
<br />- the option of Lender, if mortgage insurance coverage(in the amount and for the perlod that l.ender requires)provided
<br />- by an insurer approved by Lender again becomes available and is obtaincd. Bonower shall pay thc premiums required _
<br /> to malmain �nortgagc insurance in effect,or to pravide a loss reserve, until thc requtrement for m�rtgage insurance
<br /> ends in accordance with any written agreement between Borrower and Lender or applicablr law. _
<br /> 9. Inspectlon. Lender or its agent may m�lce reasonable entries upon and inspections of the Property. Lcnder -
<br /> � shall give Bonower notice a�the time of or prior to an inspection specifying reasonabla cause for the inspection.
<br /> lU.Condemnatlon. The proceeds of any award or clalm for dumages,direct or consequenti�l,in connection with _
<br /> any condemnation or other caking of any parc of the Property,or for conveyance in lieu of c�»demnation,aze hereby
<br /> a5signed and shall be paid to L,ender. -
<br />= In the event of n total taking of the Property,the proceeds shall be applied to the sums secured by this 8ecudty n'
<br /> Insteument,whcther or not then due,with any excess paid to Bonower. [n the event of a parttal taking of the Property
<br /> in which the falr rtiarket valuc of the Propeny immediately before the taking is equal to or greater than the amount of
<br /> the sums secured by thls Securlry Instrument immediately before the caktng, unless Bonower and I.ender otherwise
<br /> agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds
<br /> . multiplied by the following fraction: (a)the total amount of the sums secured ittunediately before the taking,divided by
<br /> (b)the falr market value of ttie Property lmmedlately beforc the taking. Any balance shall be pald to Bonower. In the ■:
<br /> event of a panial taking of the Propercy in which the fair market value of the Propeny immediately before the taking is
<br /> � lcss than the amount of the sums secured immediately beforc the taking,unless Borrower and Lender o[herwise agrce
<br /> in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this
<br /> � • Securiry Instrument whether or not the sums urc then due. �t,•
<br /> If the Property is abandoned by Bonower.or if, after no[ice by L.ender to Bonower that the condemnor offers to �
<br />_— —_ � make an awurd or settle a claim f�r damages, Borrowcr fails to respond to I.ender within 30 days after thc dat�the �
<br /> notice is given,Lender is authorized to collect and apply die proceeds, at its option,elther to restoration or repair of —
<br /> the Property or ro ute sums secured by this S�:uiity insirumcni,wheiher or nos th�r.due. __
<br /> Unless Lender and Borrower o[herwise agree m writing. any appllcation of proceeds to principal shall not extend _._-
<br /> or postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of such _
<br /> . " payments.
<br /> � 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />' modlfication of amortization of the sums secured by this Security Instrument granted by L.ender to any successor in
<br /> - lnterest of Bonower shall not operate to rcicase thc liabili[y of the original Bonower or Borrower's successors in
<br /> interest. L.ender shall not be require�to commence proceedings against any successor in interest or refuse to extend
<br /> time for payment or othenvise modify amortization of the sums secured by this Security Instrument by reason of any
<br /> demand n�ade by the odginal Bonower or Barrower's successors in interest. Any forbearance by L.ender in exercising
<br /> - ' any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 12.Successors end Assigns Hound;Jotnt and Several LIablltty;Co-slgners. The covenants and agreements
<br /> " - � of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower,subjoct to the
<br /> � � provisions of paragraph 17. Bonowcr's covenents and agreements shall bc joint and several. Any Borrower who
<br /> � • ' co-signs this Security Instrument but does not execute the Note: (a) is co-signing chis Security Instrument only to _
<br /> �" ' ." mortgage,grant nnd convey that Borrower's interest in the Property under the terms of this Security Instrument;(b)is _
<br /> •• not persunally obligated to pay the sums secured by this Security Instrumenr and(c) agrees that Lender and any __
<br /> other Borrower may agree to extend, modify forbear or make any accommodations with regazd to the terms af this —
<br /> Securiry instrumene or the Note wtthout thut Bonower's consent. —""
<br /> _ . 13. Loan Cbucges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan �``i-=
<br /> chazges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in ;�;
<br /> �—.
<br /> • connecdon with the loan exceed the permitted limits,then: (a)any such loan charge shall be reduced by the amount �-.
<br /> �-.___
<br />� ° necessary to reduce the charge to the pennitted limit; and (b) any sums already collected from Borrower which �.-,
<br /> �:=_
<br /> • exceeded permit[ed limits will be refunded to Bonower. Lender may choose to makc this rcfund by reducing the �_-
<br /> princtpa!owed under the Note or by making a direct paymcnt to Borrower, If a refund reduces principal. the reduction __
<br /> will be trcated as a panial prepayment without any prepayment charge under the Nore. _
<br /> Korm 3028 9/90 -
<br /> I ELF�6R(NE)isnzi.oi t�se�on Inn�ab:�
<br /> um�
<br /> 1
<br /> .� �_
<br /> _ .- �
<br /> �
<br /> I
<br /> �
<br /> I
<br /> ;
<br /> I
<br /> ; �
<br /> I
<br /> �
<br />
|