|
r
<br />i
<br />t
<br />i
<br />• f
<br />s
<br />f
<br />I
<br />i
<br />t
<br />i
<br />r
<br />L
<br />r
<br />'ow
<br />k
<br />t:
<br />1051600
<br />If Lender required mortgage insurance as a condition of making 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'sand Lender's written agreement or applicable law-
<br />s. Impectios. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection.
<br />9. Con&a aw low. The proceedsof any award or claim for damages, direct orconsequential, 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 PMperPJ,.
<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 fractiam (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 AM be
<br />paid to Borrower.
<br />If the Property is aHandoned by Borrower, or if, after notice by Lmderr to Borrower that the condemnor offers to
<br />make an award or setticl4aii- for damages. Borrower fails to respond tb Lender within. 30 ,days after. the date the notice is
<br />given, Lender is auth ad v4 ccgwt wd apply the proceeds, at it:i option, d6TCi to rMWMtion or repair of the Finperty er .
<br />to the sumss=.xcd b. u- hisSecurity Instrument, whether or ncttlrm dine
<br />Unless Lender aNd Borrower otherwise agree in writing, an applzmfil�o of proceeds to principal shall ho4it;linil or
<br />postpone the due date of the monthly payments referred to in paragra; s L irrid 2 or change the amountofsucb p"e"as.
<br />10 Borrower Not Released; Forbearance By Leader Nat.,iAs!*er. Extension of the time for piiy+"rl mt or
<br />modification of amortization of the sums secured by this Sonata Instrument granted by Lender to•anyt,suriestor its
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors Mt Interest.
<br />Lender shall not be required to commence proceedings against any suicsgssor in interest or refuse to extend tcime for
<br />payment or otherwise modify amortization of the sums secured by this S&-m* Instrument by reason cif any.demand made
<br />by the original Borrower or Borrower's successors in interest. Any forhearmux by Lender in uxeraising•any right or remedy
<br />shall not be a waiver of or preclude t:heexercise of any right or remedy:
<br />U. '.,..t:.t::e.-z nod Z4_M1:= 5etee.. lEl40iltr. C.a4goem. The covenants and agc=nents of
<br />this Security Instrument shall bind QLv benefit the successors awiinsigns of (;..ender and Borrower. subject to the pray ions
<br />of paragraph 17. Borrew a% covenants and agreements shall be�pint and sewtiral. Any Borrower who co-signs this Security
<br />Instrument but does n:a execute the Note: (a) is cosigning ttds Security Instrument only to mortgage. grant and convey
<br />that Borrower's interim in the Property under the terms of tlhi, .Swurity Instrument; (b) 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 />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. Lout Charges. If the loan secured Visit this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally Er,*Tseted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed thw_ permitted limits, then:, (;&) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and Wi!i1my sums already coltertted from Borrower which exceeded
<br />perritted limits will be refunded to Borrower. Leader may choose to make this refund by reducing the principal owed
<br />ttszder the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial preptyrcewt, vdi,bout any prepayment charge under the Note.
<br />13. 1Agitlitt*a Affecting Lender's R(gitb. If m pament or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrum,,mt unenforceable according to its terms, Lender, at its -option,
<br />may require immediate payment in full of all surri: secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. if Lender exercises thi" nption, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security instrument shall be gcven by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. 'rite notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lenders address stated herein or any other address Leader designates by notice to Borrower. Any notice
<br />provided for in this Swunty iilctrument shall be deemed to f;a> a been give -n to Borrower or Lender when given as provided
<br />in this parugraplt.
<br />13: Governing Law; Severability. This Security In trument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In ibe event that any provision or clause of this Security Instrument or the
<br />Note conflicts with apphi�able law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effrs t without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />I6. Borrowers Copy. Borrower shall be given one conformed copy of the Note and of this Security instrument.
<br />17. Ttraader of the Property or a Beat &tat Interest in Borrower. if all or any part of the Property orally
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not 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 Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />if Leader exercises this option, Lender shalt give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30days from the date the notice isdelivered or mailed within which Borrower must pay all sums sec urcd by
<br />this Security instrument. If Borrower fails 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 />It Borrower's Right to Reinstate. if Horrowet meets certain conditions, ttorrawer 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 peit(A 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 bums which then crowd he clue under this Security Instrument and the Note had no acceleration
<br />occulted, (b) cures any default of any other co%mant, or agreements, (c) pays all expenses incurred in enforcing this
<br />Security Instrument. including. but not limited t(,, re minable attornoo. fees. and (d) rakes such action a, I ender may
<br />reasonably require to assure that the lien 4 this Security Instrument. Lcnder's right% tit the Propert% and i1mro%cr's
<br />fbligatt-,n tO pa) the sums Etcured h) tfiss 5e.urit4 instrument shrill :<<nnnue uuchangc-i ('rmin it-tit "tatentent h ' V
<br />liarr(,aer. this %cLurit) iastrunieni and the • hltgdlt: ns %ti;ured hcteh� ;h;il; rea ;girt fully Occnty ^ if fir aLceletalwn h.id
<br />r,ac erred. llnwe, er, ihrti right ti-, tells"fatc. 01,tll t,r't a pill
<br />_,
<br />t
<br />:.TW
<br />i
<br />�f
<br />�1
<br />
|