|
89
<br />- 104556
<br />If Leader required nmgW insurance as a cenditfon of maWng the lam secured by this Sectuity Instrument.
<br />-Borrower " paytk pramums required to maintain. the insurance in effect until such time as the requirement for the
<br />--- 111MINIMMOOMID11111ft= With amwees sod Leseieeswritten areemeat or apphcatie kw.
<br />L InOMMLOYbooder or iti sgftt may make rnaowible entries upon and inspectiam of the Property. Leader
<br />W*A time Ofor price w an iaspeMiw specifying vtumaW came for the iaqwtion.
<br />cf any air &J at claiiin for damages. direct or consequential, in connwXm with
<br />any coridemaatiori roe othsx taking of any part ef Vwft"efty, or for conveyme in lieu of coadeanution, are hereby
<br />assigned and shall be pod to Leader.
<br />In the event of a total tAft of the Fftperry, th?f proceeds shall-be lied to the sums secured by this Security
<br />nower 71C. 0017i ells PMW tddn Of ftP--TPe"Y-,.
<br />=gnt, whether or not tb= Im- w�* any acew.pid to Bo
<br />maim Hanover and I ceder 0tbCnW4WVC in. writhis,:the ram ihim tie- io
<br />$�A�aino= of the "Old',
<br />sums . IWO floW
<br />the amount Of the PC M% OMS
<br />-W,6�6* the rollit f1ractios.
<br />Hba
<br />bekne the Lddv& *WAO' f kkiNAW, vAtte of the Propen, knmodimely before the taki*A'zJ; �OAI be.:
<br />6f i-` '. -,
<br />notice by Lender to Borrower that the condemwir-offers to
<br />e an award ';;
<br />orsoLgifw hum fordanuagj% &iQW*fffa& to respond to Lender within 30 days after the date the notice is
<br />:'given, Lender isaudiattOM to collect and appig-0ir proceeds. at its option, either to restoration at repair of the Property of
<br />to the sums secured by tWs Security Iurarnrnt; _whether or not then due.
<br />Unless Lender and Borrower otherwisie agm in writing, any application of proceeds to principal shall not extend nr
<br />postpone the due date of the monthly psympatfireferred to in paragraphs I and 2 or change the arnouril of such payments.
<br />10. Borrower Not Rellesu* Forlimme By Under Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Under to any successor in
<br />interest of Borrower shall not operate to release the lability of the original Borrower 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 Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any fofbearance by Lender in exercising any tight or remedy
<br />shall not be a waiver ofor preclude the exeraiseof any right or remedy.
<br />11. Saiecomes will AmMM Zow4 "at aM Several lUbIlity. Omipiers. The covenants and agreements of
<br />this Security Instrument shati bind and heriefit the successors and assigns of Lender and Borrower. subject to the provisions
<br />of paragraph IT Bomwires covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but don not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's intermit in the Property under the terms of this Security Instrument; M is not personally obligated to pay
<br />the sums secured by this . Security Instrument. and (c) agrees that Lender and any other Borrower may agree to extend,
<br />triodilly, forbear or mWw any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that HormwrN conscitc.
<br />M. Loan Ckwpa. If the loan secured by this Security Instrument is subject, to a law which sets maximum loan
<br />charges, sLut that lits, is finally interpreted so that the interest or other loan chim(M collected or to be collected in
<br />connection with the I n exceed the permineib limits. then: (a) any sinh loan cha,.Tr, shall be mduced by the amount
<br />necessary to reduce 64rchaile to the perms: ta6urnit; and (b) any sums gready collected from Swower which exceeded
<br />permitted limits wif.,( $e; refunded vx Borrower Lender may choose to make this by reducing the principal owed
<br />under the Note or hlr ranking a direct ;syment to Borrower. If a refund reduces pnnc,.*,. the reduction will be treated as a
<br />partial prepayment wzhout any prepayment charge under the Note.
<br />U LegloledwMeMag Leader's Rights. If enactment cw expiration of applicable laws has the effect of
<br />rendering any provr,4mof the Note or this Security Instrument uner-f-);,msr5ic according to its terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Savwy Instrument and may invoke any remedies,
<br />pernutted by paragraph 19. If Lender exercises this option, ltmder slu:) talct t'rsr v•rvA specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Secarnk. 2.7istrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of anoiber method. The notice shall be directed to 01-,f:
<br />Properly Address or any other address Borrower designates by notice to L,,!nder Any notice to Lender shall be given t-y
<br />first clam mail to Lenders address stated herein or any other address Under designates by notice to Borrower. Any ni-J6 V?-1
<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 />19. Gq#erWftIA%;SWraMitY. This Security Instrument shall be. governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision ur clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Sa-unty Instrument and the
<br />Note are declared to be severable.
<br />IC OwT~sC*py. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Tr oollit of fie Property or 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 mterest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Under's prior written consent, Lender may, at its option. require arnmediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as cif the diaofthis Security Instrument.
<br />If Lender exavises this option, Lender shall give Borrower nct!a., of acceleration. The notice shall provide a peri(Z
<br />of riot less than 30 drys from the date the notice is delivered ,w mailed twm ion which Borrower must pay all %urm-s secured h�
<br />this Security Instrumt. If Borrower fails to pay thew sums prior vo r=e expiration of this period. Lender map q'nvoke ar.y
<br />remedies permitted 6ytMs Security Instrument without further notme c,.# demand (in Borrower
<br />I& am--%=ft vAgm *^ JWAA�AAOM U 99orrowear atM a c—.- -= Qcru& tons, 111of rawat r thal-I h.-we the right —#-
<br />enforct,T-"tof this.9ofturity lewrterient discontinued at anytime the earl:es of. (a) 5 days for such other period salts
<br />appiw,i4ic law may specify for r&imaatement) before We of ^` c Proper,12punuaM -*.n) any power of sale contained in rhos
<br />instrument; err (b) entry of a judgment enforcing zh.s Secu•y tr-,-.trumem. Thaw cunditions are that Mrro%er:
<br />(a) pays Lender all w-91S which then would W due under this Secuirvy�, Instrument and the Note had no acceleramr.i.
<br />(wtuftcd; (b, cures rosy default of any other coverants, of agreemerm,.'.. ice pays all expensoes incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees.; and (d) takes such action as Lender may
<br />reavinably require tr► assure that the lien of this Security Instrument. Lender's rights in the Property and lkirfower's
<br />Obligalum to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by
<br />Borrower, thisSecunty Instrument and the tibligat"swcured heieby shall rentain fully effeciive as if noaccdcralton hart
<br />itaurred 11i;wever,thiv fight to tenstate shall not apply inthe(aw 1311t 17
<br />
|