|
F
<br />89 --101' 101739
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Mstrunient,
<br />Borrower shall pay the, premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrowers and Lender's written agreement or applicable law,
<br />S. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condtatnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a total taking di the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether ar not then due, with any excess paid to Borrower. In the event of a partial taking of the Property;
<br />unless .Borrower and iLender otherwise agree in writing, the sums secured by this Security instrument shall be reduced by
<br />the amount of the-g;mmeis multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before the tardy, d;vded by (b) the fair market value of the Property immediately before the taking. Any balurtre . shall be
<br />paid to Baam i;vzr.
<br />If the 'P? Werty- is abandoned by Borrasver or if, after notice by Lender to Borrower that the condemnor offers to
<br />nwke an avmrd or settle a claim for damages, Bermwer fails to respond tu. Lender within 30 days affrr the date the notice is
<br />given. Lender is authorized to collet.' ni apply the proceeds, at its option, either to restoration or. r.pair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall-not extend or
<br />postpone the due dateof the monthly payments referred to in paragraphs I and 2 or change the amoant.of such payments,
<br />10. Borrower Not Released; Forbearante By Lender Not a Waiver. Extension of the time for payment. or
<br />modification of amortization of tat sums sectuined by this Security Instrument granted by Lender to anF.Sildcestor its
<br />iratrest'afi3c rrower shall not op�wi e-zo rcleas�e.tfte liability of the original Borrower or Borrowers successors in interest.
<br />Lender &u-Q, not be required to commence proceedings against any successor in interest or refuse to extend. ttin na ecrr
<br />fkxstestt or'ratherwise modify amortization of thesums secured by this Security Instrument by reasois.dany dam-, ..3 made
<br />fizz ire ©';,moral Borrower or Borrower's successors in interest. Any forbearance by Lender in exercii44,piay rghr_ cr remedy
<br />mast r.c;t inea waiver of or preclude the exercise of any right or remedy.
<br />V1. Successors and Assigns. Bound; Joint and Several Liability; •Co4igs3ers. The coven nts and agreements of
<br />this Security Instrument shall bind as, benefit the successors and assigns of Under and Burrawer, subject to the provisions
<br />of paragraph 17. Bonrow.er's coven&t*%9 and agreetttents shall be joint and several. Any Borrower whir co-signs this Security
<br />Instrument but does not ac=ute thW Nate: (a); .i Q2- signing this Security Instrument only to mort p. grant and convey
<br />th- Ft B$orrower's interest "a the Proles -n.vj under tha terms of this Security Instrument; (13) is: not personafly obligated to pay
<br />&esurzf sorured by this Security:' Ensarument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make.-my accommodations tat th regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consen t.
<br />12. Lois Charges. If the loan secured by this Security Instrum iml is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed tfh:'a permitted limits, then. fa) any such Im",charge shall be reduced by the amount
<br />necessary to reduce the charge to. o lhi .-,permitted limit; and (b)'any sums already from Borrower which exceeded
<br />permitted limits will be refunded eo. Sarrower. Lender may choose to make this refund by reducb-iig the principal owed
<br />under the Note or by v>� tUng a direct payment ti, Borrower, If a refund re%lucm principal, the redu"iian will be treated as a
<br />partial prepayment witbi� ,ut any prepayment charge under the Note.
<br />13. Legislation Affecting teaser's Rights. If enactment or erpiration of applicable laws has tf_a effect of
<br />rendering aril. provision, of the Note or this Security Instrument unenforceable according to its terms. Lender, a'i As option,
<br />may requir immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragmph 11). If Lender exercises this option. Lender shall take the steps specified in die"iecond paragraph of
<br />paragraph 17.
<br />14. Notices. Any notic to Borrower provided for in this Security I vistrumrn t !hall be given by deliver.' cg 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 />Property Address or any other address Borrower designate~ by notice to fender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any otheraddre±+ Lendo designates by notice to Borrower, Any notice
<br />provided for in this Security Instrument shall be deemed to have been gitoi to Borrower or Lendo. when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall he governed by federal {,tw and then late+ of the
<br />jurisdiction in which the Property is located. In the event that any'provisionor clause of this Security lnsuu MX1t or the
<br />Note conflicts with applicable law, such conflict shall not affect other pn)vi sions of this Security Tim trument or the Not'
<br />which can be given e(fmi without the conflicting provision. To this end the provisions, of this Security Inst rument 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. Transfer of the Property or a Beneficial Interest in, Borrower. If all nr any part of the Property or any
<br />interest in it is sold or transferred for if a beneficial interest in fiorraw6ris bold or transferred and 13crrower is not a natural
<br />person) without Lender's prior written consent. Lender may. at iti. caption, require iminedtate payment in full of all sum-,
<br />secured by this Security instrument. However, this. option shrill not be exercised by Lender if exercise i% prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrlitaer'rtotice of acceleration. l he nonce shall provide a period
<br />of not less than 3f) days from the date the notice is delivered ter ntruilt-d within which Bourne er must pay all sumssecured by
<br />this Security Instrument. If Borrower fails to pay these sums pniurto the expiration of this pound. I.t rider may invoke any
<br />remedies permitted by this Security instrument without furrher nt1lice or dernard on Harrower
<br />1>l. 9+1tr4!!E3'S 6ti;.ltt' net itirlsletr. If B:imawcr ¢tir.a :acrndim :;r:. Brmir.irr shall i %tve tfsr light It+hacc
<br />enforcemerit of this Security Instrument discontinued at any little prig sr to the earlier of tat S dac5 (or such ssther period as
<br />applicable law may specify for relnstatentent) befi+sw s,ile c+ftlit, Prf perty pursuant to any power of safe ctsntaincd to thi,.
<br />Security Instrument. or (b) entry of a3udgmcni enfillcnlg thiesecunty Instrument Those condr,,u;n %are that Ilorroucr
<br />rat pays Lender all sums which then ucluld he due untle:.r mils Security fr:strument and the Nile had rit+ acceierahotl
<br />(,Lcurred. fb) cures any default I.f any when .<<.rsulut +, su d. ;rremewi. :LI pays all wrens,, incurred In et+fi .tutp Oii.-
<br />Securliy Instrument, ltidudlng, but not .'►"weed to, r ,Ittorno(- fees. ,Ind (tai ,tkc%.u,11 lkndc-r rttuv
<br />retrsorlahlt, rcquirc toa%%urc that the livil of th1q . flrltrurne"t. I Order" ,till) i nI,
<br />oblicatl.ln to pa} the curlrN sc:_tlrc+l t.3 Ito+. SLR- ullt+: lsWtint►s'at =11,111 a atl.«.e lu..haalt{eu' repot+ tr +tltitat. :nu nl E t
<br />It, crrr,uer. Fhr. fire u;lEy insiru:nGnt slid the f1hllF;:itlnns :ei r11Nt .'tench•. s6ai, s tr :.s1; t:. , : F: :'rt; :r ail Ii nn ;1,'+ridt tl.• a h,I +;
<br />011'.1,211. t'� fent, law %hal) r►rit igl1livin ,Ili_ 1ph', :- + ; i
<br />ME
<br />IM
<br />t
<br />.rM.
<br />of I
<br />v
<br />
|