|
: . CO...w
<br />Vil 102268
<br />ri
<br />If Liender-reqWrc4,mortpge insurance as a condition of making 1bt;lDan.5M1rqW by this Security Instrument.
<br />:1�4=wer shallpay-tbepreWim-required Wartaint-in the insurance in drrA tinjilloat time as the requirement for the
<br />11ts 11ranex terminates in actardancewitli Borrowees and Lender's wrftttn agaufflMl 4 applicable law.
<br />and inspections of the Property. Lender
<br />s Iffl9wilm 1.� or its agent may make reasonable eatd� .1crA an inspecti
<br />give Borrower notice at the time of or prior to an inspection spen yo$v4sonsible cause for the inspection.
<br />9. CAmmleiiian dos t. The proceeds of any award or claim for damages, direct or consequential, in connection with'
<br />-condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />.;21W
<br />be paid to Liendm
<br />to tire; event of a total taking of the Property. the proceeds shall be applied to the Burns secured by this Security
<br />1wkrumenz, whether or not then due,
<br />with any excess paid td Borrower. In the event of a partial taking of the Property,
<br />j. v 1366 Borrowerand Leader otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />Aht amount of the proceeds multiplied by the following fraction- (a) the total amount of the sums secured immediately
<br />Wore the talcing, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />-4toBorrower.
<br />P.M
<br />If the Property is abandoned by Borrower.,or if, after rib.fl.'.6eby Lender to Borrower that the condemnor offers to
<br />male: an award or settle 4.claim for damages. Borrower fails to respond to Lender within 30 days afterthedaw the notice is
<br />gtv=, Lender is autho6 to collect and apply-thd.-'proceeds, at.1ts, option, either to restoration or repair eft he Property or
<br />ta the sums securedbytbisSwiu its, IU&tr,=921;.wfi;tltetOTnot then due.
<br />Unless Leader and B -
<br />orrower &hem ise agree in writing, any application of proceeds to principal shall not extend or
<br />4•
<br />t
<br />f--
<br />-foil
<br />r
<br />—i
<br />Wne date of monthly payments nfured-to in paragraphs I and2orchangetheamoLm
<br />P tof such payments.
<br />10!=Wer r4a Reksg* Forbearstrim By Lender Not a Waiver. Extension of the time for payment or
<br />mad[ification of amortization of the sums secured by this Security Instrument granted by Lender'to any successor in
<br />M
<br />interest of 3banwer shall not operate to release the liability of the original Borrower or Borrowees successors in interest.
<br />leader shall tat be required to commence proceedings against any successor in interest or refuse to extend time for
<br />M-,mtnt o;r 01herwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by. Ohe original i3orrow'er * Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />bei waiver of&preclude the exercise of any right or remedy.
<br />.4-51h'not
<br />IL Swcessors and Assigns Bound;- Joint sad Severed Liability; Co-signers. The covenants and agreements of
<br />kastrumentsball bind and benefit the successors and assigns of Lender and Borrower, subjeato the provisions
<br />M Borrow,,Ws covenants and agreements shall be joint and several. Any Borrower who co-sips this Security
<br />Thoriat2cra but does riot. execute the Note: (a) is co-signing this Security Instrument only to mortoge, grant and convey
<br />that tormwer's, interest in the Property under the terms of this Security Instrument; (b) is not persoiaily obligated to pay
<br />Ike sium sx=ed by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />imxft frorbftr or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />fta Borr--We. s consent
<br />12. Loan Cis. If the loan se"ned by this Security Instrument is subject to a law which sets maximum loaf'
<br />duron— =1 that law is finally interpreted so that the interest or other loan charges collected- or to be collected in
<br />ct-.N-,r4ztjj(:a. earth the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the..amount
<br />nCOMUM"vo reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which'exc=ded
<br />permm& Emits will be re-funded to Borrower. Lender may choose to make this refund by reducing the princioal owed
<br />undm'Oh: No '.c or by maft.$ a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />pert.tjut any prepayment charge under the Note.
<br />U. Egoslatiom 40ecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering =-y pmvisior .-f, a Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may rNiiLe. tnnned.`Ce pajincrit, in full of all sums secured by this Security lnqtrument and may invoke any remedies
<br />permitte If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />pairagraph-V7.
<br />14. N;-lt.-Zom. Any notice to Borrower provided for in this Security instrument shall be given by delivering it or by
<br />.
<br />mailing it u�L mail unless, applicable law requires use of another method. The notice shall be directed to the
<br />Property A Ara ssoir sm,,- other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class ma-,I!xj L-ender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in fb.rs S=.rity Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this parag-niph.
<br />15. Ci mamrj& Low, SevemkMty. This Security Instrument shall be governed by federal law and the low of the
<br />jurisdiction in wEch tk: Propem.,, 1'21'i to-Ated. In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts V`1113, ippli"Ve law, slush co: a= shall not affect other provisions of this Security Instrument or the Note
<br />which can be giveri d%vt: Without the provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to te., sdve-,abl:-
<br />16 Borrowe�VCA#y. Bnrrawer shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer e.. rate or Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold orwaLderred (6r. irabeneEshl interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written conser,,t-:. Under may, at its option. require immediate payment in full of all sums
<br />secured by this Securmy Fmtrurre.-nl. Howeve,-. this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the datf*tsf:r��s Se xifivj Inst-Mirr.t.*nt.
<br />If Lender exercises this oj-zicm- 1end V.;-nall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from.flat dwe the notice -is delivered or mailed within which Borrower must pay all sums secured by
<br />thn Security Instrument If i3Crtower fails ta"y thew sums prior to the expiration of this period. Lender may invoke any
<br />remedics permitted by ru ta: uv Shout finther notice or demand en Rnrrower.
<br />Is. Borrowers *W-6TRXsiMtate. tr-, Borrower meets certain conditions, Borrower shall ha�vc the right to have
<br />'A% - (a) 5 days (or such other period as
<br />enforcement of this Sec ur�iy f nii, : nram t d i sco6ltinued at any time prior to the earlier cif:
<br />: �s&%tement) before sale of the Property pursuant to any power i if sale contained in this
<br />, jTan
<br />applicable law may, spec .1' 11 G .
<br />Security Instrument; or ft er,'ar i i4a judgmen-i enforcing this Security Instrument Those comlitu ltlti are that ' thitrumcr-
<br />(a) pays Lender all sums, Wh,,4`-1zi:`hen wot�ld he due under this Security instrument and lite Note had ito accOctmioll
<br />occurred; (b) cures any def-ai1i'.pf'aF,;y, other 4mvenants or agreements; (c) pay., all expenw% incurred in enforcing IN%
<br />-Security In-itfument, includmi &-lidt n0trlik-,ted to, reasonable attorneys' fees, and (d) take% such activii ;is 1-cittler may
<br />reasonably require to the lien. or this Security Instrument. Lender's rights in the Prolvi ty 311d
<br />isbiligation to pay the sums this S.ecurity Instrument shall continue unchanged I 1poit by
<br />WIMMU. this Security ln%tr ::d the'rbv3agations secured hereby shall remain fully effect 11w 3% if no ac i, Clerittit)II had
<br />"i,ttlored however, Ml; Fight to ri: mdate Wrajaa apply in the case ofaccelefaimis under paragraphs i 4�r Il
<br />4•
<br />t
<br />f--
<br />-foil
<br />r
<br />—i
<br />
|