|
'f
<br />i
<br />i
<br />�x
<br />s
<br />89 105591
<br />If LetotSv requkotl,=g1VW insurance as a condition of making the loan secured by this Security Instrument,
<br />Bonawitr.ril 'rrtrtKsm`s'rt6�uired to maintain the insurance in effect until such time as the requirement for the
<br />insurance nsle Borrower's and Lender's written agreement or applicable law.
<br />S. ` W*r or its agent may make reasonable entries upon and inspections of the Pieperty. Lender
<br />shall give ever notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Co Wlemumtioa. The proceeds of any award or claim for damage% direct or consequential, 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 />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 />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds 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. takia�&- 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 -j4fr condemner offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 dttr_fi±i the date than itice is
<br />given, Uni for°is tuthn ized to collect and apply the proceeds, at its option, either to restor if 017;. iq % of the Property or . .
<br />to the sums iiv4 by thisSecurity Instrument, whether or not then due.
<br />Unless Lender. yw&Borrower otherwise agree in writing, any application of proceeds to priiicW shall not extend or
<br />postpone the due date_, `f a monthly payments referred to in paragraphs 1 and 2 or change the amoiint of such payments.
<br />10. Borrower Na Relemei; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortias►.lon of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shaFi_rsiot operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be requj�7ad to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise rna4fy 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 forbearance by Lender in exercising any right or remedy
<br />shall not b>e j� waiver of or preclude tiaee.xereise of any right or remedy.
<br />It 5iteegrtors and Anloii:$aaad; Joint anal Serest Liability; C041pers. The covenants and agreements of r
<br />this SmuriryTdstrumembW bind and benefit the successors and assigns of "nder and &3rroiver, suhjM to the provisions
<br />r,*.fpirragraph 17. Borrow w. ,�, covenants and agreements shall be joint and several. Any Borrower whoco-signs this Security
<br />- Castrumenf. iAzt does ndle_tp' cute t#tr-- N'ate: (a) is co-signing this Security Instrument only to mortgage. grant and convey
<br />that B3orro*itr-'s interest in the Prepeny under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums stbrzed by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security instrument or the Note without
<br />that Borrower's consent.
<br />12, Loam CUrges. If the loan secured by this Security Instrument is subject to a law which sets 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 (.Marge to the permitted Kind; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will *,,funded to Borrower. Lender may choose to make this refund by redud:init the principal owed
<br />under the Mire or by maktrrg a directpayment to Borrower, if a refund reduces principal, the neduciion will be treated as a
<br />partial prepa.yr :ent without any prgxyment charge under the Note.
<br />13. GeWslatim Affecting iCeader's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provisionxF the Note or this Security instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate: payment in full of all climbs secured by this Security Instrument and may invoke any remedies
<br />permitted by: paragrpot U . -,If Lender exercises t::imi option, Lender shall take: the steps specified in the second paragraph of
<br />paragraph I.
<br />M . Notices. Any notice ti,_Aorrower provided for in this Security iimirumen; shall be given by delivering it or by
<br />mailing it by first c4w'inail unless applicable law requires use of another method. The notice � -ha?! be directed to the
<br />Property Address or arty Other address Borrower designates by notice to. Lender. Any notice to Lowder shall be given by
<br />first class mail to L.ender'a address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instruttw.t shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Idw; Sevembility. This Security Instrument shall he governed by federal law and the law of the
<br />jurisdiction in which The Property is located. hit the event that any proviiii6n or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict vhall not affect other pnwhions of this Security fhorument or the Note .
<br />which can be given effect-without the conflicting provision. To this end the provisions-of this Security Instrum0l and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Inorument.
<br />17. Transfer of the Property or a Beneficial Interest is Borrower. if all or any part of dtte Proper`ty or any
<br />interest in it is sold or t transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower 5s t of a natural
<br />person) without Lender's 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 Bender 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 must pay all sums secured by
<br />this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period, blender may invoke any
<br />retnedim permitted by this Security instrument without further notice or demand on Borrower.
<br />16. iourreatrY iRigbi iio iiitirisii If Sanuwer meets eeeiain condititms. Bmnrwcr shaii have Cite rtghi io 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 sate of the Property pursuant to any power of -ale contained in this
<br />Security instrument; or fbi entry of a,ludgment enforcing this Security Instrument. Those conditions are that Borrower.
<br />(a) pays !.ender all sums which then would he due under this Security Instrument and the Note had no acceleration
<br />iwcurrcd. (h) cures airy default of any other covenant% or agreements. (c) pay's all cxpcnses incurred in enforcing iht-
<br />Security in%truntcnt, including, but not limited to, reasonable attorney: fees, and (d) takes Such action as Lender may
<br />rea_u!ttabt) rrquite b► assure that the [ten of thin SELUMt , In%truirleni. Under% rights m the Property and Burroi4cr's
<br />4Nigatwn it* pay the -urns ; :ured b} this %c.Iura'4 lw&utneot :hail «}nnfwe toirh.111ged Upon rrtn:r.itemenr by
<br />13ritrr�Ker. thus Sc:untt Inotrurnent and theumblil;etu,ti; se�urru! herehr 41.111 terii.,'i► fully cQettive a -if ru zft cCI r.ithllt Irad
<br />.r.%Wt:•d11m ever, iht- fight titreir maie,.hall rttlite 11:1kr.►t+'r.h +I'r1T
<br />i-
<br />1=i
<br />A
<br />a _(
<br />ht
<br />1
<br />
|