|
90/ 10 G/iM 9
<br />(•t
<br />If Lender required mortitage insurance as a condition of snaking the loan secured by this Security Instrument,
<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 Borrower's and Lender's written agreement or applicable law.
<br />•. 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. C'oudetnaation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any pan of tite 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 of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unicss Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the amount of the procmb multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the 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 Leader to Borrower that the condemnor offers to
<br />stake an award or settle a claim for damages. Sgrrower fails. to respond to Leader within 30 days after the date the notice is
<br />given, Lender is authorized to collect and appT c the gran uai --;,, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument. whetherar not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any applicatWm of L*r(aY ds to principal shall not extend or
<br />postpone the due date of the monthly paymev-,4 referred to in paragraphs P=i: Z �,r cbange the amount of such payments.
<br />10. Borrower Not Rek eth, For6ewmace By Leader Not a Weme', Emension of the time for payment or
<br />modification of amortization ,,-C lIfir %urns secured by this Security Insr-=tmt Snml' xl by Lender to any successor in
<br />interest of Borrower shall not ol�sue to release the liability: of the original Borro+v(, -c ten- Borrower's successors in interest.
<br />Lender shall not be required :s rommenee proceedings against any successor in ixwr+est or refuse to extend time for
<br />payment or otherwise modify amortization r9- t ;i,,e sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's sumewo s in interest. Any forbearance by Lender in exerciAtg any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability, Cosigners. The ctrcenarss and agreements of
<br />this `xnu ity Instrument shall bind and benefit the successors and assigns of Lender and Rirrawrm. sip !V':rt to the pn--% islons
<br />ofFe%W, graph 17. Borrower's covenants and agreements shall be joint and several. Any [Bc^rt wr why oe-signs tlt( '&accrity
<br />Inss:rrtr• nt but dints not execute the Note: (a) is co- signing this Secutit3 Instrument cnnEj ton zta�%rrgtge, grant and zonvey
<br />that tRoretmee'y i ainz est in the Property under the terms of tbi� Secut 4 Einsarument; ctrl b; w-t personally obligated to pay
<br />the cams sec;vr+ed by this Security Instrument• and (c) agr"-.s (:lint Lender and any,nh,ear Borrower may agree to extend.
<br />modlif1., Korbear or make any accommodations with regard; to she terms of this Secwfm instrument or the Note without
<br />than &=owees consent.
<br />12. Ww Cmatge.9. If the loan secured by ibis Sccur-ity IWIrdu,c'nt is subject to 813'»' -which set- 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 the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's: R41its. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may require immediate payment m full of att sums secured by t;ris Security Instrument and may invoke any remedies
<br />jaernxitted by paragraph 19. if Lendr r exercises this option the stefi7..T-wified in the second paragraph of
<br />paragraph 17.
<br />14. Ne6-,v& Any notice to Borrow .r provided for in xhis Securiyy,• Lnstrurnent shall be even by delivering it or by
<br />mailing it by first class mail unless applicable law requires use eC anodt:r method. The notice stall Ifte directed to the
<br />Property Address or any other address Borrower designates by notice w, Lender. Any notice to >La aier shall be given by
<br />Crest class mail to Lender's address stated herein or any other address Ler der designates -by nottce tw &flower. Arta a0tice
<br />provided for in this Security Instrument shall be deemed to Om-w: beenz s E ve210 Borrower or Lender when given as pnx� id ed
<br />in this paragraphL
<br />15. (JTaf, ruing Law; Severability. This Security Instrument shall. be governed by federal Law and the law of the .
<br />jurisdiction in vr:l k-fi the Property is located. In the event that any provision or clause of this Security Instrument of the
<br />Mote conflicts with appliealsfe'tzw, such conflict shall not affect other provisions of this Security Instrument or rbe \are
<br />tiul),ich can be given effect without the conflicting provision. To this end the provisions of this Security Instrument :trrd the
<br />Note are declared: to be severable.
<br />16. Ser rawees Copy. Borrower sh4l) be given one conformed copy of the Note and of this.Security Instrument.
<br />17. T "rztatffer of the Property or a. Renefieial Interest in Borrower. If all or arty part (3f 1he Property or any
<br />interest in it is 5+3ld or transferred (or if a beneficial interest in Borrower is sold or transferred and Bormwer is not a natural
<br />person) without Lenders prior written consent, Lender may, at its option, require immediate 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 of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower mutt pay all sums secured by
<br />this Security Instrument. If Borrower falls to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security instrument without further notice or demand on Borrower.
<br />lg. 3arrawer's EUght to Reinstate. if Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement of this Security instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security instrument and the tote had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security instrument, including, but not limited to, reasonable attorneys fees; and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's
<br />obligation to pay the sums Secured by this Security instrument shall couun,ie unchanged. Upon reinstatement by
<br />Borrower. this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17
<br />s, ��jf
<br />11111 r - -
<br />�tt>
<br />M
<br />- _� -yam•. ..
<br />� , .. C.' }
<br />90/ 10 G/iM 9
<br />(•t
<br />If Lender required mortitage insurance as a condition of snaking the loan secured by this Security Instrument,
<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 Borrower's and Lender's written agreement or applicable law.
<br />•. 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. C'oudetnaation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any pan of tite 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 of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unicss Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the amount of the procmb multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the 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 Leader to Borrower that the condemnor offers to
<br />stake an award or settle a claim for damages. Sgrrower fails. to respond to Leader within 30 days after the date the notice is
<br />given, Lender is authorized to collect and appT c the gran uai --;,, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument. whetherar not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any applicatWm of L*r(aY ds to principal shall not extend or
<br />postpone the due date of the monthly paymev-,4 referred to in paragraphs P=i: Z �,r cbange the amount of such payments.
<br />10. Borrower Not Rek eth, For6ewmace By Leader Not a Weme', Emension of the time for payment or
<br />modification of amortization ,,-C lIfir %urns secured by this Security Insr-=tmt Snml' xl by Lender to any successor in
<br />interest of Borrower shall not ol�sue to release the liability: of the original Borro+v(, -c ten- Borrower's successors in interest.
<br />Lender shall not be required :s rommenee proceedings against any successor in ixwr+est or refuse to extend time for
<br />payment or otherwise modify amortization r9- t ;i,,e sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's sumewo s in interest. Any forbearance by Lender in exerciAtg any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability, Cosigners. The ctrcenarss and agreements of
<br />this `xnu ity Instrument shall bind and benefit the successors and assigns of Lender and Rirrawrm. sip !V':rt to the pn--% islons
<br />ofFe%W, graph 17. Borrower's covenants and agreements shall be joint and several. Any [Bc^rt wr why oe-signs tlt( '&accrity
<br />Inss:rrtr• nt but dints not execute the Note: (a) is co- signing this Secutit3 Instrument cnnEj ton zta�%rrgtge, grant and zonvey
<br />that tRoretmee'y i ainz est in the Property under the terms of tbi� Secut 4 Einsarument; ctrl b; w-t personally obligated to pay
<br />the cams sec;vr+ed by this Security Instrument• and (c) agr"-.s (:lint Lender and any,nh,ear Borrower may agree to extend.
<br />modlif1., Korbear or make any accommodations with regard; to she terms of this Secwfm instrument or the Note without
<br />than &=owees consent.
<br />12. Ww Cmatge.9. If the loan secured by ibis Sccur-ity IWIrdu,c'nt is subject to 813'»' -which set- 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 the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's: R41its. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may require immediate payment m full of att sums secured by t;ris Security Instrument and may invoke any remedies
<br />jaernxitted by paragraph 19. if Lendr r exercises this option the stefi7..T-wified in the second paragraph of
<br />paragraph 17.
<br />14. Ne6-,v& Any notice to Borrow .r provided for in xhis Securiyy,• Lnstrurnent shall be even by delivering it or by
<br />mailing it by first class mail unless applicable law requires use eC anodt:r method. The notice stall Ifte directed to the
<br />Property Address or any other address Borrower designates by notice w, Lender. Any notice to >La aier shall be given by
<br />Crest class mail to Lender's address stated herein or any other address Ler der designates -by nottce tw &flower. Arta a0tice
<br />provided for in this Security Instrument shall be deemed to Om-w: beenz s E ve210 Borrower or Lender when given as pnx� id ed
<br />in this paragraphL
<br />15. (JTaf, ruing Law; Severability. This Security Instrument shall. be governed by federal Law and the law of the .
<br />jurisdiction in vr:l k-fi the Property is located. In the event that any provision or clause of this Security Instrument of the
<br />Mote conflicts with appliealsfe'tzw, such conflict shall not affect other provisions of this Security Instrument or rbe \are
<br />tiul),ich can be given effect without the conflicting provision. To this end the provisions of this Security Instrument :trrd the
<br />Note are declared: to be severable.
<br />16. Ser rawees Copy. Borrower sh4l) be given one conformed copy of the Note and of this.Security Instrument.
<br />17. T "rztatffer of the Property or a. Renefieial Interest in Borrower. If all or arty part (3f 1he Property or any
<br />interest in it is 5+3ld or transferred (or if a beneficial interest in Borrower is sold or transferred and Bormwer is not a natural
<br />person) without Lenders prior written consent, Lender may, at its option, require immediate 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 of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower mutt pay all sums secured by
<br />this Security Instrument. If Borrower falls to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security instrument without further notice or demand on Borrower.
<br />lg. 3arrawer's EUght to Reinstate. if Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement of this Security instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security instrument and the tote had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security instrument, including, but not limited to, reasonable attorneys fees; and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's
<br />obligation to pay the sums Secured by this Security instrument shall couun,ie unchanged. Upon reinstatement by
<br />Borrower. this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17
<br />s, ��jf
<br />11111 r - -
<br />�tt>
<br />M
<br />``I.
<br />
|