|
s:
<br /> _ � �
<br /> f
<br /> �
<br /> gg� f C��8'��
<br /> � , If Lender required mortgage insurancG as a conditioa af making the loan secured by thi� Security Instrument,
<br /> Borirower shall psy the premiums requlred to m�intain the insurar�ce in eftect until auch time u the requirement for the
<br /> insurance terrttiaata in accordincc v►�ith Borcawer's�nd Lender's wtitten a�reement or appGcabte laa.
<br /> A. Iey�ectio�. Lender ar it�a�ent rt�ay m�ke reasonable cntrics upon and inspoctions of tkc Prap�,rty. Lende;
<br /> shall give BorroMer notice�►t the time of or prior to�n inspecdon specifying reasonable ca�ux for the inspection.
<br /> 9. Coademuda. Tha proceeds of any awsrd or claim for damsges,direct or consequentisl,in connection with
<br /> any condemnation or other takinQ of iny part of the Property, or for conveyance in lieu of condemnation,ue hereby .
<br /> assi6ned�nd sha11 be paid to Lender.
<br /> In the evrnt of a tot�l taking of the Property, the procads shall be applied to the sum�secured by this Security
<br /> Instrument,Mhether or not then due,with any excess paid to Borrower. In the event of a panul taking oP the Property,
<br /> unlas BormMer�nd Lender otherMise a�ra in w�riting,the sums secwed by this Security lastrument shall be rcd�ved by
<br /> the smoum of the proceeds multipfied by the folloaring fnction: (a) the total amount of the sums securod immodiately
<br /> befon the taking,divided by(b)the fair muket value of the Property immediatdy before the takiag.�1ny b�lance shall be
<br /> paid to Harruwer.
<br /> If the Property is abuidoned by Horrower.or if,after noticG by I.ender to Borrower thst the candemnor oRers to
<br /> mske sa�axud or settle a cl�im for damages,I3onoaer fiils to respond to Lender within 30 days atter the date the notice is
<br /> �ivon,ieiiuer is�ruuiorizad�o cojlect an0 apply the praceeds.at its opuon,either to restoration or repair of the PropGrty or
<br /> to the sums secured by tbis Security Instrument,whether or not then due.
<br /> Unless Lender and Borrower otherwise agra in writing,any application of�rocads to principal shall nos eatrnd or
<br /> postpone the due date nf the mont}ily prymeats referred to in paragsphs l and 2 or change the unount of such psyments.
<br /> 10. Horrower Not Relea�ed; Forbar�ace Hy Leede� Not a Wai�er. Extension of the time for paymrnt or
<br /> modifleation of amorti:ation of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> intercst of Borrawer shall not operate to release the liability of the originai Borrower or Borrower•s successors in interest.
<br /> Lender shall not be required ta tommence procadings against any successor in interest or refuse to extend time for
<br /> paymeat or otherwise moditj�amortiution of the sums secured by this Secnrity Instnimtnt by reason of any demand made
<br /> by the oriEinal Bono�►er or Borro�rer's auccessors in interest.Any forbearance by Lender in exercising any right or remedy
<br /> shall not be s�raiver of or prxlude the euercise of any right or ranedy.
<br /> , ii. Succea�ors a�d Md�s Baud;Joi�t aod Se�eral LiabWty; Casigeen. The covenants and agreemrnu of • �
<br /> thia Security Instrument ahall bind and 6ene6t the successors and assigns of Lender and Borrower,subject to the provisions
<br /> of paragrsph 17.Borrower's covenants and agraments shall be joint and several.Any Borrower who co-signs this Security
<br /> � Instrument but does nat execute the Note:(a)is casigning this Security Instrument only to mortgage,grant and convey �
<br /> that Borrowet's inter�st in the Pn�rrrtv nn�i��h�i�.�..�;,,�,g�f ie C�...'.i::�:^«:P:.T.:S9i���.�SiO:�:ovil:j2i v�'iu�yiiw iv}'HijF �__-s f.
<br /> the sums secured by this Security Instrument;and(c)agras that Lender and any other Borrower may agree to eatend, ` °d"
<br /> modify,forbeu or make any accommodations with regard to the terms of this Security Instrument or the Note without .;
<br /> thst Horrowu's c�nsent. �
<br /> 12. Lau(�tr�es. If the loan secured by this Security Instrument is subjeCt to a law which sets maximum loan ��—
<br /> charges, and that law is finally interpnted so that the inurat or other loan chuga collected or to be colketed in r'-
<br /> connection with the loan exceed the permitted 2imiu, then: (a)any such loan chuge shall be reduced by the amount ti ` .
<br /> necasary to reduce the chuge to the pamitted limit;and(b)any sums already collected from Horrower which eaceeded � =
<br /> permitted limits wip be refunded to Horrower. Lender may choose to make this refund by reducing the principal owed '�
<br /> under the Note or by making a direct payment to Boaower.If a refund reduas principal,the reduction will be treated as a
<br /> � partial prepayment without any prepayment charge under the Note. �
<br /> 13. Lejislation Af�ectin� I,e�der+� gi�hts, If enactment or eapiration of applicable laws has the effect of
<br /> rendering any provision of the Note or this Security Instrument unenforcrable according to its terms,Lender,at its option, � .
<br /> may sequire immediate payment in full of all sums secured by this Security Jnstrument and may invoke any remedies `
<br /> permitted by puagraph 19.If Lender exercises this ogtion.Lender shall xake the steps specified in the second paragraph of �''.�;
<br />: puagraPh l7.
<br /> 14. Notlea. Any notice to Horroaer provided for in this Socurity lnstrument shall be given by delivering it or by �
<br /> mailing it by first class mail unless applicable law reqniros use of another method. The notice shall be directod to the ��� �
<br /> Property Address or any othe:address Borrower designates by notice to Lender. Any notice to Lender shall be given by '
<br /> fust olsss mail to Lender's address statod herein or ae�y oiher address Lender designates by notice to Borrower.Any notice �
<br /> pa�ovided'for in this Security lnstrument shall be damed to have been given to Borrower or Lender whrn given as provided �
<br /> in this puaEraph. �
<br /> 15. Ggjernii�Law;Se�enbUity. This Security Instrument shall be governed by federal law and the law of'the
<br /> jurisdiction in which the Property is located.ln the event that any provision or clause of this Security Instrument or the
<br /> Nota con8icts with applisxble law,such conflict shall not affect oiher provisions oP this Secnrity Instruanent or the Note
<br /> �vhich can be given effect without the conflicting provision.To this end the provisions of this Security Instrument and the
<br /> Note are dxlared to be sevenble.
<br /> 16. Boerower's Copy. Borrower shall be given one conformed copy of the Note and of th�s Security Instrument.
<br /> 17. 7'nmfer of t6e Property or a Beae8clal Ieterest in Horrower. If all or any part of the Property or any
<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 lsw as of the date of this Security lnstrument. __ __ __ ___
<br />� If Lender exercises this option,I.cr►der shall give Borrower notice of acceleration.Yhe notice shall provide a period � �
<br /> of not less than 30 days from the datt the notice is delivered or mailed within which Borrower must pay all�ums secured by '
<br /> this Security lnstrument.If Bonower fails to psy these sums prior to the expiration of this period,Lender may invoke any �
<br /> remedia permittod by this Security Instrument a+ithout further notice or demand on Borrower. ' �
<br /> 18.Borrower'�RigAt to Reiestate. If Borrower mats certain conditions,Borrower shall have the right to have
<br /> enforcem�nt of'this Security Instrument discontinued at any time prior to the earlibr of:(a)5 days(or such other period as �
<br /> � applicable law may specify for reinstatement)before sale of the Property pursuant to�ny power of sale contained in this
<br /> Security Instrument;or(b)entty of a judgmtnt enforcing this Security Instrument.Those conditions are that Borrower:
<br /> (a) psys Lrnder aq sums which then would be due under this Security Instrument and the N�te had no acceleratian
<br /> oecurred: (b) cures any default of any other covcnants or agreements; (c) pays all expenscs incurred in enforcing th�s �-
<br /> �curity lnstrumtnt.includmg,but not lirntteci t�, rtasonablr ettorneys' fees: and (d)takes such action as Lendcr may N"
<br />� reasonably reqwre to assure that the lien of this Secunty ]nstrument. Lcnder's nghts iri'the Propeny and 8orrower's � �
<br /> obl�gation to pay the sums secured by this Security Instrument shall cominue unchanged Upon reinstatement by ;, „
<br /> 8arrower,this Securny Instrument end the obligahons secured hereby ShaU rema�n fully effecuve a�if no accelrrat�on had
<br /> occurred.Hawever,th�s nght to ranstc�te shall not apply�n the case of accelerauc,n under paraqrr�phs 1 a<�r 17
<br /> �
<br />
|