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<br /> — ;�- - _ . su�s=�ac�r�d i�sdiatsly_3�tora.!�s_talcing� �iyidid by �b) th� lsir
<br /> � aarkat valu� of the Propsicty iaieclia�ely betQro�tt�is takfnq.-- l�ny` � - --
<br /> � . balancs shall be p�►id,to Borro�rs. � ' ,
<br /> _ -._>� 7.! � Prcperty is �banaoned by Horro�re;s,,_or it, aftar natics - �-
<br /> - -�� , by 7�nclora to Horrovsrs th�t th� cond�auor affsra, to�aakv a» qvard _
<br /> -- -_ " or �ttle a c2ain for dasaqes, Borrc�ners fail to respoad to Leaders
<br /> . tri.thin 30 days atter the date tbe notice is given, Lendera are , —
<br /> : antttQrized to collsct and � aPPly the proceeas,. at their option, --
<br />;�:".. . either to•restore or repair the Pra�rty or to pay the seas secured - -- ____
<br />. - by th�.s Security Instrw�ent, vhether or rtot then due. ��
<br /> :�S.
<br /> ��'� ,` _ Qaless i,e��ers and Borrowers othes�tfse agree in writinq. aay =s--
<br /> . ���`.� �appifcation o€.:procesds to principal .sha�l,not extend or postpcae - �-��A -
<br /> .st� -
<br /> ,,'s .:.<�he du4 siate o€�the yearlY PaYaents re€erred to fn para9raPlis 1 and .�-� __
<br /> '���. ���-�° . . ` 2 or chanqe the aswunt:.of such�PaY�� , �`'=�'-��
<br /> :4-'- :: ._._
<br />. .. _ ��_ . . . . ..-� _ ; ���c.
<br /> .;;_, ,
<br /> :;�= �0.. Borzowers; lTot Released: Forbearance by I+andezs" 3iot a `(`'. - -
<br /> ` _�i�isiver. 8xte�sian 'o� the tias !or payasi►t.c►r soc�f ficsti.an ot � �-
<br /> .�. z . . �
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<br /> � - � �asor�ization o! the;,.:suas ssaurad by this` Sgau�iLq Iusti�eat ��z;�w .
<br /> u -�,::i. ..:
<br /> 4�`� � ,an successor ii4 interest o! Ho�cover��shall . � f,."��'.,=•-.;t.
<br /> , grtu'lted by Lenda�CS to;. y � r� �
<br /> �,`° ,;� � not opsrate to releaise':�the 13ability�;of the original Horrot�Iers .or: :.. ,.:�; ':.::' �, �.�,.:-�r�
<br /> � . ` .;�?;`:.�r M Borr�«ters• snccessors � 3�ter,est. i,enders sha3.1 not be zeqo3.red �. �-_�"-- �.; _
<br /> � - �- �=��.:� '� to aQ�oence.proceedinqa agaii3st_anY successor in interest or refuse • � : .
<br /> ,.
<br /> � - � �tr_-.:, -. .°-- �s-Pos pay�ent-ar �atha�se--�di�Y-a�rti��tiqn_�m��he-�. ---�i ,�, l - - -
<br /> , �
<br /> ����ani _
<br /> �.. __ f„; , , auas seaure8 by tbis Security Ins reason of any demand - . - F,.?� .
<br /> � � - �-
<br /> ,- ::. ;....,,�� aade by the oriqiaal. Borrowers or Borrowers� suacessora isi t�` .' �
<br /> � c:. >s' • �' fx3"�c#
<br /> :.<:.�:;:.;F . . fntsrest. �ny forbeatanae by Lenders in exercising any riqht or � �, : .�s`;
<br /> �„ ,•-:�r,. -_-
<br /> T..�: ..- :. r�� s�all not be a waiver of or preclude the exercise of any ��, ... . -_-
<br /> •�::f:-:�'vt;;;y�; right or reasdy ., . :=-=__
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<br /> A���.;�'�-:`f:� - _ 11. _ Successors and lhssigns Bowadi Joint and Several ,` (r�
<br /> „ . _ I.iabilit . co-signers. The covenants and agree�ents o! tihis � �'� - - �
<br /> �_ • �"''..���;:�
<br /> � ' � Seaurity Instr�ent shall bind and �l�enefit t2ie sucaessors and ;: . - �;:,._-
<br /> . .� ,. . � � assigns ot Isnders and Borrower�, subiect to the provisions of ��`��'< .�: .�;,,�.;;,�
<br />. -fi ' . - � � i�i` , ��;.;:;t:"�;'�
<br /> paragraph 17. Borrowers covenants and agreemen�s shali be joint
<br /> � -_:.�:;: `, t=;�_;,",;: . � and several. Any Barrower who co-s�.gns this seaurity Instruaent i . ;;.';...�`,�
<br /> j •�:,,��- but does not exeaute the Note: (a) is co-sigAing t�Lis Seaurity � . s� °
<br /> - !'ifi°.`. i . �r�:....�.,
<br /> ."�r � . , Instrusent oaly to �mort9aqe, 9rant and com�ey that 8orrower•s : , . .` '
<br /> interest in the Property under the teras oP tbis Secur i ty : . � � :;._�:'_
<br /> �� � Instaruaents (b) is not personally obiigated to pay the suas sacured ;t. .. -:��.:.- <
<br /> . � ��.-L��"T�.>'
<br /> � - . �.• ' • . by t2�is Security Instrument: and (c) agrees that Lenders an� any � . � ,. - : -.
<br /> � �'��`� . . �, othsr 8orrower may aqree to extend, modify, forbear or aake any ; �,;'':;;:;: :,
<br /> �' accomadat.ions with regard to the terms cf this security Znstrument t � `�'�" .��
<br /> - - • or the Note.without that Horrowers• consent. • � '
<br /> . : ;, �` .�;-. �° 12. Loan Charges. If the lonn secured by tt�is Security .
<br /> . . � "�"rH��4_
<br /> . �-�;�:, ' 4� � instrument is sub�e�t to a law which sets maximum loan charges, and �,��'.;',;.,.
<br /> - that law is Pin�lly interpreted so that the interest or other loan `� • .
<br /> � -��`r eharqes colIlected or to be collected in connectio� with the loan s;•�; ' . , .
<br /> . ...:,,: - =: : . �
<br /> �'� r_����..,:�: exceed the g�era3tted limit$, then: (a) any such loan charge shall
<br /> -- .- � �f -�:�`,'':"}• be seduced by the amount necessary iw rec3uce the ���8 to �2t°. - -�- .--
<br /> >} � ; '. '�j��.. � , per,�ittea ifait: and (b) any sums already calleated from Horrowers
<br /> �,«. �. .� whicb exceede� permitted limits wiil be retunded to Horrowers.
<br /> `�t�` � � `• Lenders may choose to make this retund by reducing the prinaipal � � ; ..
<br /> ,:��;,°; ' • � owed under the Note or by making a direct payment to Borrowera. 2t
<br /> :,,;;..
<br /> . _,'�-'�..;,;:;:;��:;::;;�,�. a reSt�rt� =educes principai, the reauction wi11 be treated as a ; .
<br /> ` '`�'ti�i���' �� pa�r�f��9. g�repay�ent without any prepayment charge under tha Note. � �
<br /> �i�F,� �1,��;:1����';,��' . - ,
<br /> �,:•..,�..- .�:��.':' . .,
<br /> . - 13. Les�islation Affecting Lenders' Rights. ?,E eiiaatment or
<br /> expf�.ratiior� nf applicable laws has the efPect of rendering any •�• .
<br /> � provision of the Hote or this security �nstrument unenForceabie . .
<br /> �� accordinq ta its terms, Lenders, at their option, may require
<br /> � *"� � � imediate payyaent in full of all sums secured by this Seaurity � , .
<br /> � � - - - � -� . instsm�ent and-may invoke any remedies perm3tted by paragragh 19. _ _
<br /> � � �� If Lenders exerci$e this option, Lendere shz�ii take the ateps .,
<br /> � �� apeaifie8 in the second paragraph o f paragrap h 1 7.� � � .
<br /> . . s,. . � �� - •
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