|
l.
<br />�
<br /> _ � �
<br /> �9�: 1U6030
<br /> � , IP Lenchrrr rtquired mc►rtgugr incurance as a condition��f mak�ng th� la:►n securui ay this Security Instrument,
<br /> Horrower sha�l pay thc premiums�cquired to maintuin the insurancc�n effrct unti)wch�ime as thc requircment f�r the
<br /> insurance terminates in accardance with 8ereov�cr's�nd(.�ndG��written�greernent ar applicable law.
<br /> � 8. I�y�ettlo�. Lender ur its s�nt�may mAkc rea�onable cntncs upan und inspections of the Prcperty. Lender
<br /> Shall gi�•e Bormwer notice at the timc nf ur prior Io an inspectian speeifying rea.�anabfe cause f�r thc inspectian.
<br /> 9. Candemnattoe. The proceedo aP an�uwurd ar claim�'or damages,di�ect or cunsequential,in connection with
<br /> any condemnation or other taking af any part of the Property, or far cunveyance in lieu oF condemnation, are hereb,y
<br /> , assigncd and shall be paid ta Lende�.
<br /> In the event vf a total taking of the Pruperty, the proceeds shull be applied t�the sums secured by this Security
<br /> lnstrument,whether or not ehen du�,with any cacess paid ta Horrawrr. In the cvent oPa partial taking of the�'topetty,
<br /> unless Borcower and Lender othenvise agree in writing,th=sums securcd by this Security Instrument shall be reduced by
<br /> the amaunt of the proceeds multiplied by the following fraction: (a)the total amount af the sums secured immediately
<br /> befare the taking,divided b�(b)the fair market value af the Property immcdiatcly before the tAking.Any balance shal!be
<br /> paid to Horrawer.
<br /> lf the Praperty is abandoncd by Borrower,or if.after notice by Lender to Borrower that the condemnor afters to
<br /> make an award or settle a�dEaim for damagcs,Borrower fails to respond to l.ender within 30 days after the date the notice is
<br /> given,Le�der is authorit�d to collect and apply the proceeds.at its option,either to restaration or repair oi the Propeny or
<br /> to the sums secured by chis Security Instrument,whether or not then due.
<br /> ' Unless Lender and Horrower otherwise agree in v►riting,any application of proceelis to principal shall not eatend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 und 2 or change the amount of such payments.
<br /> 10. Bars�:r_r 1Vo3 Rel�; FQ:t�araac= By I.�red�r 1Vot e Waires. Extension of the time for payment or
<br /> modiflcation of amartization of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> interat af Borrower shall nat operute to retsase the liability of the original Bc�rrawer or Barrower's successors in interest.
<br /> Lender shall not be required to commence proceedings against any successor in interest or refuse ta eatend time for
<br /> payment or otherwise modify amortization of the sums secured hy this Security Instruraent by reason of any demand made
<br /> by the original Borrower or Horrawer's successors in interest.Any forbearance by Lender in exercising any right or remedy
<br /> shali not be a waiver of or preclude the eaorcise of any right ar remedy.
<br /> ll. Sucees�ora�d Asti�s Bound;Joint and Sereral Llability;Co-siRners. The ca�•enants and:��reements of
<br /> this Security Instrumeot shail bind and benef t the successors and assigns os Lender aad Borrower.subject to the provisions -<
<br /> ��f paragraph 17.H�rr¢�wer's covenants and agt�-ements shall be joint andseveral.Any Horrawer who casigns this Security
<br /> I»strumtnt but does not execute the Note:(aj is co-signing this Security I�strument only to mortgage,grant and convey �;
<br /> ' th�t 8vrtuwer's interest in the Property under the terms af this Security Instrument;(b)is not personally obligateci to pay
<br /> ' the sueses stcuced by ihis Securi;y Instrument; and{c)agrees that Lender and any other i3�rmwer may agrce to eatend, ,
<br /> modify,forbesr or make any accommodations with regard to the terms of this Security Instrnment or the Note withaut
<br /> that Bonower's consent. �
<br /> I2. Loan Chuges. If the loan secured hy this Security Instrument is subject to a!aw which sets maaimum loan .
<br /> , charges, and that !aw is finaUy interpreted so that the interest or other loan charges collected or to be collected in �
<br /> ' � cannection with the loan exceed the permitted timits, then: (a) any such loan charge shall be rcduced b? the amount
<br /> ' • necessary to reduce the charge to the permitted limit;and{b)any sums already collerted from 8orrower which exceeded
<br /> permitted limits wifE be refunded to Bonower. Lender may chaose��assake this refond by reducing the principal ovred
<br /> `. under the Note or hp a�aking a direct payment to Borrower.If a refund reduces principal,the recfuotion wip be treated as a .
<br /> partial�repayment without any prepayment charge under the Note.
<br /> 13 Legislatioo ARectin�Lender's Rlghts. If enactment or eapiration of applicable laws has alhe effect of—
<br /> � rendering any provision of the Note or this Security Instrument unenforceable according ta its terms,Lend�r,at its option, —
<br /> may requite immediate payment in full oP all sums secured by this Security Inst�ument and may invoke any remedies
<br /> permitted by paragraph 19.If Lender eaercises this option.Lender shall take the steps specified e�x che second paragraph of �
<br /> paragraph 17. ' ��-
<br /> 14. Notieea. Any notice Qa Bonower provided for in this Security lnstrument shall be gi�en by deiivering it or by
<br /> mailing it by first class mail unress a��tica'hlt law requires use of another method. The notice�hall be directed to the �:.,
<br /> Property Address er any other address Bocra�rcr designates by notire sQ Lender. Any notice to lxnder shaU be given by ; '
<br /> first class mail to Lender's address stated herc-�n or any other address E..emder designates by notice to Borrower.Any notice
<br />. provided for in this Security Instrument shail be deemed to have been gi�•en to Borraw�er or Lender w�hen gi��ea�as provided
<br /> in thispQragraph.
<br /> �S. Goveraing I.aw:Sever�►bility. This Security Instrument shall be go�erned by federal law anct EE�e law of the
<br /> jurisdietion in which the Property is locAtecl.Ln the event that any pr�vision or elause of this Security Instrument or the
<br /> Note conflicts w7th applicable law,such ccresflict shall nat afi'ect other.provisians of this Seceu�ete Instrument or the Note
<br /> which ean be given effect without the conHicting provision.To this�end the provisions of this 5ecarity Instrument and the
<br /> Note are declared to be severable.
<br /> l6. Borrower•s Copy. Be�rrower shall be given one conformed copy oP the Note and of this Security Instrument.
<br /> 17. Tnesfet ot t6e Property or a Beneflcial lnterest in Borrower. IP a11 or any part of the Praperty ar any
<br /> interest in it is sold or transferred(ar if a beneficial interest in Borrower is sold or transferred and Horrower is not a natural
<br /> person)without Lender's prior written consent.Ltnder may.at its option,require immediatc payment in full of all sums
<br /> secured by this Security Instrument. I-lowever. this option shal! not be ezercised by i.ender if exercise is prohibited by
<br /> federal iaw as of the date af this Security Instrument. r`==---�--
<br /> " If Lender exercixs this option,Lender shall give Borrower notice of acceleration.The notice shall provide a penc�d •
<br /> of nol less than 30 days from the date the notice isdelivered or mailed within wh�ch Borrower must pay a!1 cums secured by .
<br /> zhis 5ecunty lnstrument. If Bc�rmw•er fbils to pay these sums pnvr to tlte expirat�on of this period,Lendrr ma�•invoke any
<br /> remedies permitted by this Security instrument without funher notice or demand on Horrower. �
<br /> 18. Borrower'a Right to Reinstate. lf Horrowcr mccts crrtain conditi�m. Bnrrower tihall have the right u�ha�e
<br /> enfotcement of this Security Instrument disrontinued at any time pnnr to the earlier c�P (a)S dayti(or cuch�thcr�senod ati
<br /> ` applicable lar�may spec�fy fnr remstutement)befnrc�ale of the Pr��perty pursuant to any pnucr nf�alc�onta�nrd�n thiti
<br /> �, Se�:unty Inslrument ur(b)entry��f a�udgment cnf�rcing th�s Seiunty Imtrumenl 7h�tc r�mdm��ti�are th,it Hi�rn�«er
<br /> Ia) pays l.ender all sums w•h�ch then would he due under this Secunt� In�trwnent and the :�l+�tc had m� acreleratum
<br /> �xcurred: fb► cuce� ar�y defauU ��f any �,ther covenantti c,r :.igreementti, (c) p;�« all ri�+en�i� Sncunrd in enfe�r�in�; thi. �`
<br /> Securit� In�ti�ime+it, includin�, hW nat hmitecS t��. rea���nable attorney�' fee� .�nd IdJ tal.eti �u�•fi actu�n ;+� !�nder m:�c
<br /> reawmahly requuc t<+ �«ure ih�t thc licn �+i thiti Sr�unty hiti►rumcnt. 1 cndcr'ti n�hi� ni thr Pr��rcr�y and H��ri����cr'. �
<br /> ��hl�[�al�s�n tn ��y fhe ru►nti �c�ured M th�ti tir�untv In�trumccit tihall inutiritic un�h;�i���id 1'i,��n rrm�i.ilc•nuv�t 1�� °
<br /> (inrrnHCV.Ih���e�u�iR ln�ltumr�:t an�1 th�•��hhp,atuai��r�urr�.l hcrrn+. �.h.ill rrna.im l��Il< <•ilc.u��•����t n••,�;,c!ri.�t���n h.�d
<br /> :k:uttrcl N���►!•ticr.tfnti n�ht t��rcm�t:�teah:+ll fr�,�,rr,lti n�th�•�.��� ,•f.u,r 6•�.�+�<�n��n�b•r ;•�r.sct.���h� 1 t•.s I'
<br /> �
<br />
|