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Borrower may cure such a defauft and reinstate, as provided ir. paragreph 18, by Causfng the eCtion or proceeding to ba
<br /> dismissed with a ru{'ng that, in Lender's good fakh determhation, precludes forfekure of ihe BortowePs irttorest in lh9 Property or
<br /> other material inparcment of the lien created by thls �ecurity Instrument or Lend�x's securfty hterest. Bortower shalt also be kn
<br /> detauR i► BoROwer, during the I�an applicatfon process, gavs materialiy taiso or haccurate infartnatbn or statements to Lbnder (or
<br /> fai6ed to provide Lender wkh eny matarlai fntormatbn) ki connection wRh 4ho ban evidenced by the Note, hcludhg, but not
<br /> fimked to, representgNons cnncP,ming Bortower's occupancy of th� Property as a prr.Cipal residence. If this SacurRy
<br /> Instrvment is on a lease��old, Eorrowsr shall comply with�atl the provisions of ths lease. If Borrower acGuires (ee title to the •
<br /> PropRrty, the basehflld and the fee tkle shall not rtrorge unless Lender agrees to the merger h writtng.
<br /> 7. Protection af Lender's Rights in the Proper4y. ir eoROwer �a�ts to perform the covenants artd tagreements
<br /> contained 'n this Security Inshument, or there is a legal proceeding that may s�jnificantly aflect Lenders rights in thu Property
<br /> (such as a proceeding in bankruptcy, probate, for condemnaCan or forfeitur9 or to enforce faws or reguletions), then Lender may �
<br /> dn and pay tor whatsver is necessay to protect the value of thtl Property and C.ender's rights h 4he ProFerty. Lander'i�, actions ,�
<br /> may incfuda paying any sums >ecured by a lien whbh has prfority over this�S�curRy Instn:ment, ap�earing in court, paying �
<br /> reasonabie ahomeys' fess and entering on the Property to make repairs. Akhough Lender may take actbn under thfs pa�agrflph
<br /> 7, Lender does not have to do so. �
<br /> Any amounts disbursed by Lender under paragraph 7 shall become sddkional debt of BoROwer secured by this S��curfty 0
<br /> Instrument. Unless Borrower end Lender agree ta other terms of payment, these amaunts shatl bear interest irom the dctte of �
<br /> disbursement at the Nofe rate snd shall be payable, with interest, upon natice from Lender to Borrower requesting payment. �
<br /> 8. MO°tgage lnsuranee. if Lendet required mortgage insurance as a c�ndition ot makhg the ban secured by this �
<br /> Security Instrument, Borrower shall pay the premi�ms roquired to maintain the mortgage �rsurence in effect. tf, for any reason, the
<br /> mo�tgage insurance coverag� required by Lender lapses or ceases to be in eftect, BarrowE+r shali pay the premiums requirea' to '
<br /> obtain coverage substantisiiy squivAlent to the mortgage hsurance previousy fn eHect, at a cost substantially equNalent t� 1he
<br /> cost to Borr�wer of the mortgage insurance prevausly h effect, from an akemate mortgage insurer approved by Lender. :f
<br /> substanY�aily equivalent mortgage insuru;�cs coverage is not availabVs, BoROwer shall pay to Lender each month a sum equal 10
<br /> one-twaKth of the yearly mortg�pe insurence premium being peid by Bortower when the insurancb coverage lapsed or ceased t��
<br /> be � ettect. Lender wi�i accept, use and retak� these payments as a loss reservo in lieu of mortgage insurance. Loss reservb
<br /> payments may no longer be requked, at the option ot Lender, if mortgage insurance coverage (h the amount and for the period
<br /> that Lander requ'res) provided by an �surer epproved by Lsnder again becomes available and is obtas�ed. Bor.ower shali pay
<br /> the premiums required ta maintav� mortgage insurance rc� etfect, or to provide a bss resenre, untit the requirement tar mortgage
<br /> insurance ends in accordanca wkfi any written egreement between Borrower and Lender o:appl'�cable law.
<br /> 9. 1118(�@CtIOPt. Lender or its agent may makc� reasonabie entries upon and hspectrons of the PropeRy. Lender shail giva
<br /> Borrower n�tice at the Fime ot or prior to an hspsctA� specNying reasonabie cause for the inspection.
<br /> 10. COIlCi@f11l18tI0t1. The pro�eeds of any award or ciaen for damages, drcect or consequentiel, in conr.ection wRh any
<br /> condemnatian or other taicing of any part of the Property, or for conveyars:e in lieu of candemnation, are hereby assigned and
<br /> shal;be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shali be applied to the sums secured by this SeCUrity
<br /> lnstrument, whether or not then due, with any excess paid to Bortower. In the event �f a partisl taking of the Property 6� which
<br /> the tarc market value of the PropaRy immadfatety before the taking is sq�al to or greater 4han the amount ot 4he sums secured�, �
<br /> by this Sacurity Instrument immediatey before ti�e taking, unless Borcower and lender othsrwise agree in w�n� g, the sums '�;
<br /> secured by this Security Instrument shall be reduced by ihe smount of ths proceeds multipiied by the folbwing ha�tbn: (a) the
<br /> total amount ol !he sums secured immedietely before the taking, divided by (b) the fair market velue af the Praperty'xnmediately
<br /> before the takir,g. My baiance shail bo paid to Bonower. t^ !ha event o! a partial taking of the Property � which the fair market
<br /> value of the Property immediately before the taking is less than the amount e� the sums secured immediate`� before the taking,
<br /> unless Borrower and Lender ethervvise agree in writing or uniess appl(caba iaw otherwise provldes, the pro^.eeds shall be
<br /> applied to the sums secured by this Security instrur.ent whether or not the sums are then dua.
<br /> If 4he Property is abandoned by Bortower, or H, after notice by Lender to Bortowar that ;he conclemno� offers t� make an
<br /> award or settie a claim tor demages, Borrower feils to respand to Lender w$hin 30 days after ;he date the notiCe fs gi.�n,
<br /> Lender +s authorizod to coik3ct and apply the proceeds, at ks option, ekher to restoratbn or repak of the Property or to the
<br /> sums secured by this Securi?y InsWment, +vhether or not then due.
<br /> Unless Lender and Burrower otherwise agree in writing, any application of proceeds to princ�ai shall not extend or
<br /> postpone th9 due date af the monthly payments reterred to fn paragraphs 1 and 2 or change the amount of Such peyments.
<br /> �1. Borrower Not Nelessed; Forbearance By l.ender Not a Waiver. Extension of the time tor payment or
<br /> modification of arnortization oi the sums secured by this Security lnstrument granted by Lender to any successor in interest of
<br /> Borrower shell not operate to release the I'�abilRy of the orighal Bortower or Bortower's sucCessors in interest. Lender shall not
<br /> be requ�e� to comrrzence proceedings against any succassor h interest or refvse to extend time tor payment or otherwise
<br /> mod�fy amortization of the sums secured by this Securky Instrument by reason of any demand made by the original Borrawer or
<br /> Bcnower's su�cessors in interest. Any forbsarance by Lender h exercishp any right or remedy sl�all not be a waiver ot or
<br /> preciuda the oxercise of arsy right or remedy.
<br /> �2. Success�rs and Assigns Bound; .loint and Several Liability; Cn-sign�rs. rne co�onants a,d
<br /> egreements of this Securky Instrument shall bind and benetk the successors and essl�ns of Lender and Bonower, sub�ect to tho
<br /> provfs{ons of paragraph 17. Borrower's covenants and agreements shail be Joint and several. Any BoROwer who Co•signs this
<br /> Sacurity Instrument but does not execute the Noto: (a) is co-signing this Security Instrument ony to mortgage,grant end convey
<br /> that Borcower's interest in the F�roperty under the terrns of this Security Instn�menh (b) is not personally o6iigeted to pay the
<br /> sums secure�+ �y this �curity Instrument; and (c) agrees the4 Lender and any other 8orrower may a�ree to ea�tend, modi(y,
<br /> forbear or make any accommodations wRh regard to the terms of this Security Insir�msr.; or the Note w$hout that Borrower's
<br /> consent.
<br /> 13. Loan Charges. it cne loan secured by this SecuriSy Instrument Is sub)ect to a law which sets maxknum ban
<br /> charges, and that law fs f'mally hterpreted so that the hterest or other ba� charges collected or to be collected in connect{on
<br /> with tne Ioan exceed the permrtted Itmits, then: (a) any such ban charge shail be reduced by thg amount necessary to reduce
<br /> the charge to the permftted irnih and (b) any sums a�eady coliected from Bortower whlch sxceeded permkted iknks will be
<br /> refunded to Borrower. Lender may choose to make this refund by reducing the pnc�ipal owed unoex the Note or by makhg 0
<br /> drcect payment to Borrower. It e refund reduces principal, the reductbn wlll be treated es a pertial prepayment wRhout nny
<br /> prepayment chflrge under the Note.
<br /> 14. IJotices. My notfce to Borrower provided for in this SecurRy Instrume�t shall be glven by delivering it or by maifing it
<br /> by first class mail unfess appl�able iaw requires use of another method. The notfce shall be directed to the Preperty Address
<br /> or any othdr address 8orrower designates by notice to Londer. Any notbe to Lander shail be glven by fkst ciass mall to
<br /> Lender's eddress stated herein or any other address Lender designatos by notbe to Bonower. Any notice provided (or in thls
<br /> Securky instrument shall be deemed to have been given to Bortawer or Lender when elven as provided h this paragreph.
<br /> 15. Governing Law; Severability. Tris Securfry Instrument shall be govemed by federal law and tne �aw ot the
<br /> jurisA�ctton in whic:h the PropeRy is iocalod. !n thA event that flny provi,ian Or Gl�use of thia Security Instrument or the Note
<br /> confticts wilh appliceble taw, such con(lici shall not aHect other provisbe�s of this SeCUrity Instrument or the Noto whbh can be
<br /> given eHoct wkhout the co�flfcling provisbn. To thb e�d the provisbna ot this SecurRy Instrument and ths Note are declered to
<br /> be severable.
<br /> 16. Borrower'n Copy. Bortower shell be gfven one conformed copy of the Note and of thNS Securky Instrume�t.
<br /> � F19tt.LMtl(10/Be) Pap� 9 0l 6 (.�rJ �
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