|
�
<br /> .. . 1 �
<br /> 90�, 100328
<br /> ('" If Lender rcguired mortgage insurs►nce as a conclition of makin� thc luan secured by this Security Instrument,
<br /> I Borrowar shaU p�v t�e_prerniunts required to maints�in the insurunce in efle�t until such time us the rcquiremcnt for the
<br /> — insurance terhlnates in accord�nce with Burrower's and Lender's wr�tten agreement or appiicabte taw.
<br /> 8.� lna�eetion: , Lender or its agent may make re�.conable entries upon and inspGCtions af'the Prrperty. Lender
<br /> shall give`�orrower natiee nt the time of'or priar to an inspectian specifying reasonable cause for the inspection.
<br /> 9. Coademnation. The proceeds of any award or claim for damages.direct or conseyuential,in connection with
<br /> any condemnation or other taking of any part af ihe Property, or far conveyance in lieu of condemnation,are hereby
<br /> assigned and shall be paid to Lender.
<br /> � In the event of a total taking of the Propeny, the proceeds shall be applied to the sums secured by this Security
<br /> Instrumcnt,whether or not then due,with any excess paid to Borrower. In the event of a partial taking of the Propertv,
<br /> unless Borrower a�d Lender otherwise agre�in writing,the sums secured by this Security Instrument shall be reduced by
<br /> the amount af the proceeds multiplied by the following fraction: (a)the total amount of the sums secured immediately
<br /> � before the taking,divided by(b)the fair market value of the Property immediately before the taking.Any balance shall be
<br /> . paid to Borrower.
<br /> If ihe Property is abandoned by Bonower,or if,after notice by Lender to Borrower that the condemnor offers to
<br /> make an award or settle a claim for damages,Borrawer fails to respond to Lender within 30 days after the date the notice is
<br /> given.Lender is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the Property or
<br /> to the sums secured by this Security lnstrument,whether or not then due.
<br /> . Unless Lender and Borrower othenvise agree in writing,any application of proceeds to principal shall not extend or
<br /> postponc the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br /> 10. Bormwer Not Released; Forbearance By Lender Not a Wnlver. Extension of the time for payment or
<br /> modification of amortization af the sums secured by this Security Instrument granted by Lender to any successor in
<br /> interest of�orrower shall not operate to release the liability af the original Bonower or Borrower's successors in interest.
<br /> Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br /> payment or otherwise modify amortization of the sums secured by this Security]nstrument by reason of any demand made
<br /> by the original Borrower or Bonower's successors in inicr�st.Any forbcarancc hy Lender in cxercising any righi or remedy
<br /> shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 11. Successors and Aas9gas Bound;Joint and Several Liability;Casigners. The covenants and agreements of :
<br /> this Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower,subject to the provisions
<br /> of paragraph l7.Borrower's covenants and agreements shaU be joint and several.Any Borrower who co-signs this Security
<br /> Instrument bnt does not execute the Note:(a)is casigning this Security Instrument only to mortgage,grant and convey ' �
<br /> . . _ L.�T_�__""_f • L_ T_ a � !� n I� ��.. � f.. _ - 1.�.. .�
<br /> - - ina�nviwwc�s uiiei�,i i�i;ur rrc��ciiy u��ucr iuc iarnia ar Il�is�ccuriiy in�trumcni;�ny is uvi peravuauy�uli�ruicu w pny �___ �
<br /> the sums secured by this Security Instrument; and(c)agrees that Lender and any other Borrower may agree to eatend, • ��`_
<br /> modify,forbear or make any accommodations with regard to the terms of this Security lnstrument or the Note without -
<br /> that Borrower's consent. '
<br /> 12. Loan C6uges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan -
<br /> charges. and that !aw is finally inierpreted so that the interest ar other loan charges collected or to be collected in `
<br /> connection with the loan exceed the permitted limits,then: (a) any such loan charge shall be reduced by the amount
<br /> necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Borrower which excceded =��
<br /> permitted limits will be refunded to Bonower. Lender may choose to make this refund by reducing the principal owed ��
<br /> under the Note or by making a direct payment to Borrower.If a refund reduces principal,the reduction will be treated as a
<br /> partial prepayment without any prepayment charge under the Note.
<br /> , 13. Legislation Affeeting Leader's Rights. If enactment or expiration vf applicable laws has the effect of
<br /> rendering any provision of the Note or this Security lnstrument unenforceable according to its terms,Lender,at its option, �
<br /> may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br /> : permitted by paragraph 19. If Lender exercises this option,I.ender shall take the steps specified in the second paragraph of
<br /> paragraph 17. .-:�
<br /> 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by ,__
<br /> mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the '���-��
<br /> Pruperry Address or any other address Borrower designates by notice to Lender.Any notice to I.ender shai!be given by ';��
<br /> Srst class mail to Lender s address stated herein or any other address Lender designates by notice to Bonower.Any notice �
<br /> provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided '
<br /> in this paragraph. � -
<br /> 15. Goyeming I.aw;Severability. This Security Instrument shall be governed by federal law and the law of the
<br /> jurisdietion in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br /> Note conflicts with appiicable law, such con8iet shali not affect otl�er provisions oP t1�is Securily instrument vr the Note
<br /> which can be given effect without the conflicting provisian.To this end the provisions of this Security Instrument and the
<br /> Note are declared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> 17. Trxnsfer ot the Property or a Beneficlal Interest in $orrower. If all or any part of ihe Property or any
<br /> interest in it is sold or transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br /> person)without Lender's prior written consent,Lender may,at its option,require immediate payment in full of all sums
<br /> secured by this Security Instn�ment. However,this option shall not be exercised by Lender if exercise is prohibited by
<br /> � federal!aw as of the date of this Security Instrument. ,_—��_-
<br /> If Lender exercises this option,L.ender shall give Borrower notice of acceleration.The notice shall provide a period
<br /> of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by �
<br /> this Secutity Instrument.If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any
<br /> remedies permitted by th}c Cnc�!rit;Ins!�sm�nt::�s:hout fisiher ss�sic_�*d_m�ad�n&�rrowe�. •
<br /> 18.Borrower's Right to Reinstate. If Borrower rneets certain conditions,Borrower shall have the right to have
<br /> enforcement of this Security lnstrument discontinued at any time prior to the earlier oP:(a)5 days(ar such other period as �• �
<br /> applicable law may specify for reinstatement)before sale of the Property pursuant to any power af sale contained in this
<br /> � L Security Instrument;or(b)entry of a judgment enforcing this 5ecurity Instrument. Those conditions are ihat Borrowcr:
<br /> (a) pays L.ender al! sums which then would be due under this Security Instrument and the Note had no accelerati�n
<br /> accurred; (b)cures any default of an�• other covenants ar agreements; (c) pays aU �xpenses incurred in enforcing tl��s �'`
<br /> Security lnstrument, inelud�ng. but r�ot limited to, reasonable attorney.c' fees; and(d) takes tiuch acticm as Lender may �}
<br /> � rPasunably require tn assure that the iien of this Secutity Instrument, Lender'y nghtti in the Property �nd Aorrc�wer'� � ,yt
<br /> r�bligatton tc� pey the sums tiecured by this Security Instrument shal) ccmtinuc unchanged. Up<m rcin�tatement hy r �
<br /> Nnrrower,this 5ecuritv Insttument�nd the obligations securcd herrby shall rcma�n fully effcct�tic.+�if ni�;trrrlerxu��n h��d
<br /> �� ��ccurrrd H�we�•er.t}uti nght tc�rein�tate StiaU not apply�n the ca5e�f accele�•ahon under P:iraKr.irhti I 3 i,r 17.
<br /> --f.
<br /> k� �
<br /> v����
<br /> 7f��• �
<br /> :J� S.f:.
<br /> . i-'t-�� . '
<br /> i5' , .
<br /> �
<br /> �< .
<br />
|