|
I �
<br /> �g-r (��jQ(�
<br /> �, I�' r�i�urQC1 n�nrlgage ipsurance;u a �und�non �f mal.in�; the loan tecured by this Srcuri�,•Tnit��tiil��
<br /> E3errower� " ra��thEprc�►�iums cajuirl�d t� mui��tain the insurance in eflect unt�l surh time ns the requirement i'or the
<br /> insurance te tet in�cardanse tvilh�Borrower's and t.endec's w ritte�agreement ar appiicable Inw�.
<br /> r e,"`i�l�tlon; �.cttder ar�ts aglnt may mal�e reasonable entric� upan and inspections oP the Prcpeny. Lender
<br /> shall give Bnrrower not�ce at the time of or priar t�a�inspection specifj•�ng reasonable cause Por the inspection.
<br /> 9. Condeme�tion. The prc+ceeds ol any award c�r claim Por dnmages.dir�:t ur cun5equential,in connection with
<br /> • any candemnation or �thcr tak�ng af any part of the Propen)�, or for canveyanee in lieu�f ci�ndemnutic�n. are herehy
<br /> assigned and shall be paid to Lender.
<br /> In the e��ent of a tatal taking of 1he.Pro}�erty,the pr�xceds chall be applied to the Eums secured by thiy.Securit�•
<br /> Instrument,whethe�or not then dua,with any excess paid to Borrowet, !n the event ot'a partial taking of the Praperty,
<br /> unless$orrower and Lender othenvise agree in writing.tha sums scrured by this Security lnsirument shall be rcduced by
<br /> the amaunt af'the praceeds multip)iad by the fbllowing frRCtion: (a)the total amoUr�t �?f.the sums secured immediately��
<br /> bcfore the tuking,divided by(b)the fair market value of thc Propem•immediatel��befor�the taking. Any.balance shall be
<br /> paid to Banower.
<br />_ lf the Prnpeny is a6andnned by Borrawer,or if,after nolice by Lender.to•B�rrower that th�condemno�oflers to
<br /> make an award or settie a cluim for damages,Aarrower fuils to respond to ixnde�withtn�0 days aftr� ihe date the notice is
<br /> givert,I.rnder is authorized to collect and app�y the proceeds,at its option.either to re.ctoration or repair of'the Property or
<br /> io the sums secured hy this Security Instrument,whether ar not then due.
<br /> Untess Lender and Banawer atherwise pgree in writing.any ap�liration of proc:ceds to pnncipal shall not extend or
<br /> postpone the due date us tl�r monthh pay ments refened to in p�ragraphs � and 2�r change the am�unt at'such payments.
<br /> 10. Borrower Vot Released; Fa*be�rance By Lender 'Vat a Waiver. Extension of the time for payment or
<br /> modification os amonization uf[he sums secured by this Security Instrument granted by Lender to any successor in
<br /> interest of Borrawer shatl not operate to release the liability of the original Horrawer or Borrower's successors in interest.
<br /> Lender shall not be required to cammence proccedings against any s�r:eessor in �nterest or refuse to extend time for
<br /> payment or atherwise modiPy amurtization of the.xums secured b�•this Security Instrument by reason uf any demand mad�
<br /> by the ariginal Borrower or 8orrower's succescors in interest.Any forbearance by I.ender in exercisin6 any rigfit or remedy
<br /> sha!!n�t bt a:�aivet nf or precludt the ex�rcise�•f any right�r remed�•.
<br /> 11. Succeswrs and Atsigns Bound;Joint and Sevenl Ltability; Co-signers. The covenants and a�reements oP �
<br /> this Security Instrument shall bi�d and benefit the successors and assigns of Lender a��d Barrow er,subject to the provisions �
<br /> of paragrsph 17.Borrawer's covenants and agreements shall be joint and seceral.Any Borrow•er who casigns ihis Security� � _.
<br /> Instrument but does not execute the Note:(a)is cc�-si�tning this Security Instrument anly to mortgage,grant and conve} j , _
<br /> [�1$t�TTOWLf'�inttrest in ihe Yto�►et'tV uncier tne terms of inis�ca,uiii�•:.-�sii uu��;u;t�,�i ib fi^v:j.C:`+:�::3:�j^,��%$8!!�!4�.`3Y . ��
<br /> the sums secured by this Security Instrument;and (c)agrees that I.ender and any ather Horrower may agree to extend, _
<br /> modify.forbear or make any accommodations with regard to the terms of this Security Instrurnent or the Note without � �
<br /> that Borrower's consent. —
<br /> 12. Loan 4�arises, lf the loan secured by this Secunty�Instrument is subject tc►a law which sets maximum loan .`
<br /> charges, and that law is finally interpreted so that the interest or other loan charges collected or ta be collected in
<br /> connection with the loan exceed the perm�tted limits, then: (al any such loan charge shall be reduced by the amount ,
<br /> necessary to reduce the charge to the perm�tted limit;and(b)any sums already collected from 8orrower which exceeded
<br /> permitted limits v►iit be refunded to Borrower. Lender may choc�se to make ihis refund by reduceng the principal owed
<br /> under the Note or bymaking a direct payment to Borrower.!f a refund reduces principal.the reduction will be treated as a �
<br /> partial prepayment withaut any prepayment charge under the Note. �
<br /> 13. LeRisl�tion ARecting Lender•s Rights. lf enactment or exp�rat�on of applicable laws has the effect of
<br /> rendering any provision of the Note or ihis Security]nstrument unenfarc�able according to�ts term�,Lender,at its option, _
<br /> may require immediate payment in full of all sums secured by thiti 5�nrity Instrument and may invoke any remedics
<br /> permitted by paragraph 19.If Lender caercises this�ption,Lender shaI�take the steps s}�ecified in the second paragraph of' �
<br /> paragraph 17. `--
<br /> 14. :Votices. Any natice to Horrower provided for in th�s Secunty Instrument shall be given by delc�ering it or by '�
<br /> mailing it by first cEass mail unless applicable law requ�res use of another method. The notice shall be directed to the ,;��
<br /> Ptoperty Address ur any other address Bc�rrower designates by nn6tce l�Lender.Any notice to Ixnder�hall be given by
<br /> first class mail to Lender's address stated herein or any�othet address F.ender designates by notice to Borrower.Any notice
<br /> provided for tn th�s Security In�trument shall bc deemed ta have been gn•en to Borr�wcr�r Lender when given as prov�ded
<br /> in this paragraph.
<br /> 15. Governing Law;Sererabi�ity. Th�c Security Imtrument shall be governed b} federal law ar�d the laa;qF the
<br /> �urisdictior�in which the Pr�perty iti loc:sted. !n the event that any pr.o�•ision or rlause of this-5ecurit�•lnstrument or the
<br /> Tiote car.flicts with ap�licabie inw,�uch eor�6icei sha13 not affect aiher prn�°�sions of thi�Serurity Inctn►ment or the Noie
<br /> which can lx given efftet withaut the conflicting provisian.T'o th�s end the provisionti nf th�s Security Instrument and the
<br /> Note are declared to be se�erable.
<br /> 16. Borrower's Copy. $orrower Shall be given one rnnformed copy of'the N�te and of th�s Security instrument.
<br /> 17. Trartsier of t6e Qroperty or a Beneflclstl Interest in Borrower. lf al! c�r an} p�rt of the Pmperty ��r any
<br /> interest m it�s sold or transferred(or da beneficial�nter�st in Bormu•er i5 s�+ld or Irancferrecl and Bormuer i�not a nawral
<br /> person)without i.ender's prior written c�nsent.Lender may. at �ts��pticm, reyuire immediatc payment m fuU of all tiumti
<br /> secured by this Set:urity ln�trument. H�w�ever. thts�pti�n �haU n��t he exerci�ed by Lrnder�f exercise i� �roh�bnrd h�-
<br /> feder.�l law as of the date of this Secunty inst rument. %'°-—�`-
<br /> If Lender eaercicec thic opt�aro.Lender s�all gn•e Barrow•er nutice��f acceleratinn The nntice Shall prenide a{xnad •
<br /> of nat less than?0 days from the date the notice is delivered c�r nta�led with�n whuh Borruuer mutit p��y all�um,�ecured by
<br /> th�ti Secuntv lnstrument if Rnrrow•er fa�ly to pay these sums pr���r t��the rx�irat�nn uf t hiti�crind,Lcnder may in�nke any
<br /> rerited��s prrmitted by tMs Secutrty Instrument w��thc,ut further nut�ce or demand��r�He�rroa�er
<br /> 18. Hotrower's Right to ReiastaSe. If Horrower meets�ertaui cunditit�m. N�rrower�hall h,�tic thc n�;fit t�� ha�c �
<br /> enfnrcrment of tht5 Security Instrument di�rontmued at am ��me�nc�r t��the carher i�t' la)S da>�I��r�uch��thcr rcn�d a�. �
<br /> L a�iill�CiihlC I8N ma� ��+er�fy fc�r re�mtatement)hef�re�ale nf lhe Yrnperty puru.+nt t��.sm (��+«cr��f�alr.emtainc�f in thi. �
<br /> 5erunt} Intitrument. or{b►enary e�t a)udFment cnPcirru�g Ihi�St•cunly Imtrumrnt 1 h��•e inr��fih�m�err ihe� 13��rrnwcr
<br /> (.�i �+ay� I.eridet �II �um� which thcn '.�c�ttld he clur undrr shi� Secur�lr In,trumc•tii ,�nd the �:utc ha�# n�� ;rc.clriaUnn
<br />� ��.lU!►Cl,� �hi curc� :IOV l�t�:lU�l �>> �IIY ��If1C1 �c���'h.�t'1I� ��t ttE,fYCTTIt'fllti ([1 (�,i�ti :f�� l t�+Cll�t. �IiiUrfCti {1� CSI���Ti113b f�i�� ,�
<br />- 4C:U[It� Itr,irument. �nilit�3tt�f;. hu1 n��t I�rei�Iet1 I��, IP3�I)T111�7�P L111f,rne«' fe'C� :1fll� fU1 IiI�.C��U��I .t�II�+�� d� 1tlnfi T tll.f� �
<br /> re:�"mahl� rey��uc• t�, .i�tiuee th�t tFit i�t�n r�f tFu� Se�unfti Intitre�rne•nt_ 1 ccufcs'� r••r��t. n: �h� !'<<;�rri� .iu,f li��ir•�,�� • ' ..
<br /> •,S��iFatt:,.� t�� �•,f: fhC �urtiti tiC�;ftcil 3ti� tTt�� 4t����t�t� �h,ifl�n���l.I •h.ill .•�rit���ui� ��i:.��.�i!i�'af ( .. .ii r„��.��I�in�.�� t.� w ..
<br /> �1 •�r•�t�:r t1u,�r,t�s�f� I+��t t:�tnrt�l,uis1 thc „hs��•,�.��:��i�.: . ��r�,:►,,...r .�ti_�li �r•.��,�, t:_i<< rlf:�,�.., � � .. ..,. 1,� �'� �� i�iJ
<br /> , �i,r�,•�! il u� .r•t. !►�o��ib>il l�,r:•n��.l,tSrate:tll r���r ,t�,��i�•r.rt,� ,.� . � .�. , ,� . ,�. !. � , „ �� � . � •
<br /> _...._�
<br />
|