|
<br />.~
<br />-"
<br />
<br />I
<br />
<br />89- 100008
<br />
<br />r
<br />
<br />If l.cndt:r required mor:~ insurance as a condition of ~king the loan secured by this Securit)' Instrument.
<br />Borrower shall pay the pr~miums required to maintain the insurance in eft'cct until such lime as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agretment or applicable law,
<br />8, Inspetdon, Lender or its agent may make reasonable entries upon and inspections of the Property. l.ender
<br />shall8ive BofTow~r notice at the time of or prior to an inspection specifying reasonable cause for the inslo'<<tkm,
<br />9, Co"mnatton. The proceeds of any award or claim for damages, direct or consequemilll, illl connection wiqh
<br />any condemnation or oaher taking of any part of the Property. or tor conveyance in lieu of condemnation. are hereb)'
<br />assigned and shall ~ paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Securit)'
<br />Instrument. whether or not then due. ~ith any cx<Jess paid to Borrower. In the event of a partial taking of the Propert)',
<br />unless Borrower and Lender otherwiise tlgree in writin!, the sums secured by this Secu.ti&y Instrument shall be reduced by
<br />the amount of the proceeds muhn'~t~J by the following fraction: (a) the total amount of the sums secured immediat.:ly
<br />ttefol'e the taking. divided b)' (b) the f~ir market value ofihe Property immedi4tclJ before thi: t3kiul.l. Any l'a!ancc shaH be
<br />paid to Borrower, .
<br />If the Property is abandoned by &rrower, or if, after nr~ltice by Lender to Bnrro\'l~1!' that tht: condemnor:,otFei'S to
<br />make an award or settle a claim for dam~es. Borrower fails to n>spond to Lender within 3{l1 cays after tb.e date the m"tt..-e is
<br />ga.'a1, Lender is authorized to collect and app1:i th~ ~.,toceeds, at iis ortion. eitb;r to restoralt:on or repair of the ProPerty or
<br />t~Jrtbesums secured by this Security Instrument, ~h(~heror not then due. I
<br />Unless Lender and Borrower otherwise agree in writing. any application of proceedS to principal shall net ell.~eru:i or
<br />postpone the due date of the monthly pa~ments referred to in paragraphs 1 and 2 or cha~.! the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not . Waiver, ExtftlSEon of the time- for payment or
<br />modification of amortization of the S<.InlS secured by this Security Instrument grant.ed by Lender to any successor in
<br />. interest of Borrower sftaln nlOt oper~te to release the liability of the original Bl'rrower OF Borrower's successors in interest.
<br />Lender shall not be reqt.JIrI"ed to COttill:l"lle.'1ce proceedings agailT.$t' any successor in interest or refuse to extend, time for
<br />payment or C1the...~ise modify amortjza:tiQ~ of the sums secured b!i' tbis Security Instrumenn 0)" reason of any demand made
<br />by the original &rrower or Borrower'sSlll!.xessors in interest, Any forbearance by Lender inexercisinll any right or remedy
<br />$hall not be a waiver of or preclude the ~~rcise of an)' right or r~medy, . .
<br />II, SlICftSSOrs and Assigulkvud; Joint and Se.eral LiabUity; Co.sfgDers. The covenants and agreements of
<br />this Security Instrument sball bind and ~nefit the successors and assigns of Under and Borrower. subject to the provisions
<br />of para graph 17. Borrower's covenants:md agreements shall be joint and several. An)' BoJl'rower who co-signs this Security
<br />Instrument but does not execute the Nate: (a) is co-signing this Security Instrument on~)i 1":0 mortgage. grant and convey
<br />that Borrower's interest in the Propelt)" under the terms of this Security InstrJ1ment: (b) is not personally obligated to f'.~y
<br />the ~um5 5C:CureO by this~ty instrument; and (e) agrees that Lender and a:t}'other Borrower may agree to extend.
<br />modify, forbear or make any accommodations with regard to the terms of this S~,i.iri~)' Instrument or the Note without
<br />that Borrower's consent, .'
<br />12, Loan Charges. If tbe loan secured by this Securit) Instrument is subject to 31 [aw which sets maximum loan
<br />charges. and that law is finally interpreted so that tbe interest or other loan charges collected or. to be collected in
<br />connection with the loan exceed the permitted limi'zs, then: (a) any such lO:1n charge shall be redlJ:<;1ol by the amount
<br />necessary to reduce tbe charge to the permitted lim.ru; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Bcrrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a dir~t pa.~'ment to Borrower. If a refund reduces principaf. tfu,e reduction will be treated as a
<br />partial prepayment without any prepa}mt:!3t charge under the Note.
<br />13. Legislation Meeting LeIJllder's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision ofthlt Sate Oil' tt'ti.s Security Instrument unenforceable according to its terms. Lender, at its op.tion,
<br />may require immediate payment in fulE of aU sums secured by this Security Instrument and may im'oke any rem~dies
<br />pennitted by pwragraph 19. )(Lenderexercises this option, Lend!el!'.shall take the steps specified in the second paragnph of
<br />paragraph 11.. I
<br />14. ~oiiees. Any notice to Borrower proVided for in this Security Instrument sball be given br'delivering it or by
<br />~ing it by first class mail unless applicable law requires use of another method, The notice shalf'l:te directed to the
<br />Property Address or any other address ~rrower designates by notice to Lender, Any notice to Lender shall be given by
<br />first class mail to Lender's address statedt herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security )nstrum~u.~all be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph. . . ' .
<br />15, Governing La",~ Severability. This Security Instrument shall be governed by federal law and the law of tbe
<br />jurisdiction in which tbe Property is I()(:ated. In the event that any provision or 'clause of this Security ln~trument or the
<br />Note confticts"~i,th applicable law, Sl,lch: o:>oflict shall not aft'ectoth~r provisions of this. security Instrument or th~ Note
<br />which can be gj'ien effect without die alnfiicting provision. To tIliS end the provisions of thi>.Security Instrument and the
<br />Note are declared to be severable. . '. ' .
<br />. J6~ Borrower's ~~ Borrower shall be given'one conformed copy of the Note and of t!lis. S'i:\iurity Instrument.
<br />11. Transfer of the- Property or a Beneficial Interest in Borrower. . If all or an)' ~rt of t.he Property or any
<br />interest in it is sold or transferred (or iLl beneficial interest in Borrower is sotd or iransferr.eq';L'ld Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may. at its option. require imm:t:rliale paymcnt in full of all sums
<br />secured by this Security Instrument, However. this option sball not be exelc~scd by LC:lder if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender ellercises this option. Lender sball give Borrower notice of aIXeleration. Thc notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borj-mvi~r mu..t pay all sums secured by
<br />tbis Security Instrument, If Borrower fails to pay these !tums prior '0 the expiration of tbis period. Lender may ill\toke any
<br />remedies permitted by this Security InMrument without further nc\;ce or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets ccrtain conditions. Horrower !>thall ha\tc the right to ha'''e
<br />enforcement of this Security In!>trument di!ocontinued at any lime prior to the earlier of: (a) 5 day.. (or such other periud a..
<br />applicable law may spedf)' for rcin!>tatement) before sale of the Property pursuant to any power of ..ale \:OJltamed in thi..
<br />Security Instrumcnt; or (b) cntry of a judgment enforcmg rhi.. Security In!>truml'nf Tho.." conditIOfl'. an: that Borrower:
<br />(a, pays lender all !>ums which thcn would be due under this Security Instrumellt and the ~olc had no i1Ct:c/eratlOn
<br />occurred; (b) cure<; any default of any other covenant.. or agreement..; (c) pays all ellpen..e.. incurred In enfl1fcmg thi..
<br />Securlt) III\trument, mdudmg. hut not limited to. rca..onab/c attorney.,' fces: and {d, take.. "lIch ;Kllt'll ;... l.cnder mil}
<br />Ic.N1nably reqUire 10 a...,urc thiJt tbe lien (If thl\ Security In..trument. Lender'.. flghl.. In Iht' Propert} .lI1d Htlffo\1.er'..
<br />o"lIgatloll 10 ray the ..urn.. ..elured ny' thi.. Secunty 'n..trument ..hall t'ontlllue urit'hall!!cd l'pllll fl'lll..I;lll'lIll'IH ,,~
<br />JlorrC1\\-cr. 111I..l)ClUflljo I"..trument aud Ihc(ltthgatlon....ecured heren:. ..Iwl; remam fully elfl'~'ll\l' ,I' Ifill' ;t<"~.dt'I.'t','" h;ul
<br />""urrnJ tff'\\l'\er, thl" T1e:hl In rClfl'.talc ..hall not apply 111 the t:a..l' (If ill'll'kr.llh'lIl1l1llt-r par:l!!r;lrh- I ~ -;J; I:'
<br />
<br />'..Ii
<br />
<br />'1-,.
<br />
<br />.. ,~.,,' ,'!';f r... t., '. ',J
<br />.1 "~.' .. i . ·
<br />
<br />-,
<br />
<br />, "
<br />
<br />b'''''
<br />
<br />T
<br />
<br />I;~'
<br />
<br />r
<br />'I'
<br />,.
<br />
<br />,
<br />
<br />:,
<br />
<br />~--.--~-
<br />
<br />J
<br />
<br />,
<br />,~
<br />r ,
<br />...
<br />
<br />_J
<br />
|