|
1
<br />g9-' 102'799
<br />If Lender required mortgage uisurance a% a cuneluuln of makuig the loan secured b this Security Instrument,
<br />1
<br />1 Borrower shall pay the premiums required to maintain the insurance to effect until such tints av the requirement fi►r the
<br />Insurance ugminatta in accordance with Borrower's and Leaders written agreement or applwable law.
<br />S, laspection. Lender or its agent may make reasonable entricw upon and inspections of the Property. lender
<br />shalt give Etorrower notice at the tine of or prior to an inspection specli'ving reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or ce�nscyuetntial, 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 />hr the event of a total taking of the Property, the proceeds. shall be applied to the sums secured by this Security
<br />inst.rumeo.t, whether or not then due. with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower and lender otherwise agree in venting, the sums secured by tills Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the tsual amount of the sums secured immediately
<br />before the taking, divided by (b) the fair m* arket value of t he Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />if the Property is abandoned by Borrower, or if, after notice by lender to Borrower that the condemnor offers to
<br />make da. award or settle a claim for damages. Borrower faals tt • respond to Lender w ithin ?0 days after the date the notice is
<br />given. Lender is authorized to collect and apply the prtvwdx,at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whethert'n not then due.
<br />Unless Lender and Borrower otherwise agree to writing. any application ofproce eds to pnncipal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />M Borrower Not Released: Forbearance By Lender Not Waiver.
<br />a Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Leader to any successor in
<br />interest of Borrower shall not operate to releasta the liability of the onginal Borrower or Borrower's successors in interest.
<br />Lendevshall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment os iathem ise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the onlgnal Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise' of any right or remedy.
<br />lift.. Sbecemrs and Assigns Bound, Taunt and Several Llability, C1 - sinners. The covenants and agreements of
<br />this Sev.0 my Instrument shall bind and betaea cbe successors and assigns of Lender and Borrower. subject to the proviNXIM
<br />of paragraph 17. Borrower's covenants and agreements shall] be joint and several. Arty Borrower who co-signs this Secunty
<br />! '
<br />instrument but does not execute the Note: (a) is co- signing this Security Instrumcycik only to mortgage, grant and convey
<br />1 .:
<br />that Wvrttwer's interest in the Property under the terms of this Security Instrumenr; kb) is not personally obligated to pay
<br />i
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />(`
<br />modify, forbear or make any accommodation. with r.u. t .i, ..o c e _. _ .:.
<br />_ _ -_.._ egard ,ci ......rir.; T. tilt. n.i3li /y .ii5tiilrncut or iilc lines wililroul
<br />that Borrower's consent.
<br />_-
<br />12. LoSHCiarxics. If the loan secured by this Ses:unty Instrument is subject to a law which sets maximum loan
<br />charges, and that taw I% finally interpreted so that the tnterem or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits. then: (a) any sseEi loan charge shall he reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any.e iris _ 'treacly collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choocr to'make this refund by reducing the owed
<br />_-
<br />primaraf
<br />under the Note or by making a direct payment to Borrower . ifa refund reduces prate „pal, the reduction will be'ti:eated as a
<br />parti,AQ prepayment without any prepayment charge under I he Note.
<br />—
<br />I, tegislation Affecting; Lender's Rights. If enactment cis expiration of applicable laws has the effect of
<br />renderi ng any provision of the Note or this Security Instrument unen►'owcable according to its terms. Lender, at its option,
<br />may require immediate paymert-,t: rn full of all sums secured by this Seebruy Instrument and may invoke any remedies
<br />permtttai-)bv paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second Issragraph of
<br />parsgrii ph, -• I;.1.
<br />NOffices.
<br />any notice to Borrower provided for in this Secun'N instrument shall be given by delivering it or by
<br />mailing it by first cltass mail unless applicable law requires use of aniither method. The notice shall be directed to the
<br />Property Address c?r Any other address Borrower designates by notice to Lender Anv notice to Lender shall be given by
<br />first clalssr¢tazl to Lender's address stated herein or any other Lender
<br />4
<br />address de%igtiartN' by notice to Borrower. Any notice
<br />provided for-in tE7.i, . Security Instrument shall be deemed to have been given to Borrower or lender when given as provided
<br />'p=4-
<br />in this riph
<br />15. Gove:rningLaty; Severability, This Security Ir►sirument shall be governed by federal• law and the law of the
<br />turisdrrad6n in which. the Property is located. in the event that any provision or clause of this Security Instrument or the
<br />Note cg�afttcts with applicable law, such conflict
<br />shall not affect other provisions of this Security Instrument or the Note
<br />which.k-,• W be given effect without the conflicting provision To this end the provimcni; of this Security Instrument and the.
<br />.
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformer. Lopy of the Note and e.FiLv; Security Instrument'..'
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or tr gi.4crred and Borrower is not a natural
<br />person) without Lender's prior wniten consent. Lender milt: at its option, require im.nediatc payment to full of all sums
<br />-0all
<br />secured by this Secunty instrument. However, this tlptt:n not be exercised by Lender if exercise is prohibited bg
<br />federal law ac of the date of this Security Instrument
<br />-
<br />if Lender exercise% this option. Lender shall give Borrower notice of acceleration. The nonce shall provide a period
<br />of not less than 30 days from the date the notice is delivered or marled within which Borrower must pay all sums secured by
<br />this Security Instrument If Borrower fails to pay these sums prior to the expiration of this period. Lender may Invoke any
<br />remediespermntedby this Security Instrument without furthernutice
<br />ordcmand on Borrower
<br />iN. Horrower *% Right to Reinstate. If Borrower meets certain .ondttions. Borrower shall have the right to have
<br />enforcement of this Security instrument discontinued
<br />at any tune prior u+ the earlier of (ay 5 days fur such nthvr penoci if.,
<br />applicable law may 4.pecity f-or reinstatement) hefore sale of the Pr„rerty pursuant if, any power tit Talc clontained fit till-.
<br />Set univ Instrument. or (F► entr� .Ifa ludernc•nr enftdcrtig this Security Instrument I hto.c conditions-in that Ktrnmer
<br />Of pros,. lender all .urns "hid) then t+e
<br />Lam'
<br />would slue under this Security Instrument and the Note h.ld fit, ,ittCleralion
<br />II`v.urrcd (h) Lures .lily dc"fauit I =f ally tither '(to
<br />�
<br />c-- enants or agreements
<br />R pats all evpenses ini-urrcti uI :•n(t,ttu,� th ;�
<br />lrcunt,, It- orururnt. :11dudinc. hilt rit•t limited tn. reasonable attnrr,cys' fees ,Int) td► t.Ikcs.o%h +% 1 11th r m.fs
<br />.f,i,,•n .
<br />rv,q -sl u.lh.'} rcgwrc• t•• m.%are that the lien of this Se,. urlt) I'mirtiment- I rndr•r : ridil% to the 11:1 .Its .tail It •rn• %err .
<br />-t'1filary I, I.• it'
<br />r'
<br />1'.1s %[m)” �V.Itrnl t,1 11, ♦ •..Iftfly InQrUnil'ta '.;:ill t.•n' lint. utalr,*VkTt) 1 :'n f:'nvLtfctrlt'Pr ht
<br />•`I
<br />It 'ft ,•,1 . f ti,i_. at•, !Ir:t l'•••.11:em i? .Intl fi.t "t,lt ttatn,ns ti:'c ur dhrrfh� .h fit r,• +„ rapt th• it.•
<br />-Ili; -
<br />,! FI .11,11111'•1 :I1'.l•i'. Ili It 1 , ' :t .. .!• -' , t' ,L'r .1.1 .
<br />
|