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<br /> - � . 193-�o�oe �
<br /> ' 7.l�rotufla�of I,Mda's Rl��t�1� IN�pr�prly. !t Borrower f�il�to pertorm tho oovamat+�ud�4r�eanenu
<br /> coataiwd in tki� 8eau�lly Instrumeat. or tbns i� •ls{d prooeedina tlut m�Y si�nitianqy dtact Larda•s ri�na
<br /> in the Property (�uah M •praa+edln4 in bu�lcruptay. prob�te. !or wndornn�tlan or torteltun or to entorae lsw�
<br /> or ro�ulNions). tlm l.ender nay do �nd pq for wlvtevet�s t�eoea�ry to protact tho vdu�r ot tbe Propaty �ad
<br /> l.eeder'� ri�hta in the Propecty. Lender's �atiom rtny iaalude p�Yina �ny sunu �avrod by � Itan which lur
<br /> r r�:,�1,•. , priarlty aver this Sacwity Imtrumm►t. �pparcin� in court. p�yin4 roaoruble dtornoys' foes a�d eaterin� oa tbe
<br /> '' �;;' '.4 ` . Proparty to mdca mpdn. Al�houoh Lendar naiy ake �ation undor thi� paa�caph 7� L61td� d001 IIQL h/VO t0 do
<br /> ::����.t.:.�,:�r'.:x. to.
<br /> •-.,-.. Aay rmount�dlsbursed by Lander uada thia pusarapb 7 ahall ber,oma additiop�l debt ot Bonowa sacured
<br /> ..: , .- by t6is Seaurlty Instcumatt. Ualea 8orrower�aA Lender ��rae to other tams ot p�yn�t. tdae�mounts shall
<br /> ; � ban� intawt trom tho dNe oi di�bur�enaut �t the Note nta�nd sludl bo pay�bla wit6 lntanat� apon notioe irom
<br /> , :::,•`.�,`..,:�`.'*"�. LeaAer to Bonawar requratin�WYmont.
<br /> , :�+�..�e�4' d-�.,"�y.
<br /> "''' ' ^ B.MoMQ�4� Int�nu�a, If Landar roqui�d mort4�ae insunnae r �candition at nakin4 the loan�eaured by
<br /> �. '" thi� Seaurity In�trument. Bonower stull p�y the pramium9 roquired to mainuin the mart�ge insur�nae in ottaat.
<br /> .p • +r �.:�. • .:� It,tor �ny rai:on, the matw4e imurnnm cova�Qe roquired by l.ender Ispsea or aases to ba in afixt. Barrowa
<br /> ;; � � i� �.•, .�s�,. slnlp p�y tho prcmiums�eqai�+ed to obuin coveraae�ubst�nti�lly aquivdent to the mortQ�Qa in�ur�noe proviously , -.+;,,
<br />+,w,;�' �, �:�+k:�:��: .;�,._ ' in attoct. �t a oos� substantiaUy equivalent to tho cost to Borrowar o[ the mortQ�Qe tnsur�noe pnviously io �'
<br /> , �; /„� .. . .•..' etixt. irom �n �IterruUe mort�a�e i�sunr�pproved by Lartdor. Ii eubatantidly aquiv�lent mart���o Insuranoe
<br /> . m
<br />���••� � � covaaae is not �wil�ble. Bonower shw11 p�y to Lender ach month � �um aqwl to ona-tweltth ot the yarly�•
<br />� r •.. • �� mor/g�Qo ia�u�anoe p�+emium belna paid by Horcowa whan the in4ur�noe coveraQe I�psed or oe�sed to �e i�a aftxt.
<br /> � .. � . �Y� Lendar wlll aooapt, use �nd retain these p�yments as • loss raave in lieu ot mort4�Qe insurana. 1.0ss raerva
<br /> paymenls m�y no IonQa bo required. �t tda optlaA ai l.cndcr. if mort��Qe insurmae coveraQe (In Ih�amount aad
<br /> �• ' tor the period tlut Lender requircs) provided by �n insut+er�pproved by Lender �Qain becomes �vsilabla md ta
<br /> ' • � obU�ined. Bosrowa sfull pay the prcmiums requiced to molnU�ia mort4aQe insuranae in atiect. or to pravide a .
<br /> � loss ceserve, vntil the raquiremant tor mortQ�Qe insuru�oa ends in�ocordsnos with any written��rament batwean ,�,;�y:
<br /> � Borcowa�nd Landa or applicable law. ``s�'S�
<br /> �. �', �� � ,3;.:;�
<br /> � 9. Imp�etloa.Lender ar its�Qant m�y m�ke rason�ble entries upon and inspections of tha Property. Lender +��;
<br /> • •� shdl Qive Borrower notiaa�t tho tima of or prior to an inspeclion specifying �+eason�ble causo tor the iaspactloa.
<br /> ' '� 10. Coadanmtloa. The prooecds ot�ny�wad or cl�im tor dunsaes. diroct or conscquantial. in connaction w�`'' �
<br /> � with any wnQemmtion or other ta�in� ot any p�rt oi tho Property. or for conveyawe ln lieu of aondemwtion. �ss.;s:�,°1� '
<br /> �re hereby assi�ned and:tuill ba paid to i.ender. � ��!_:�';:
<br /> In the evant of a tot�l tpkina ot the Property, tha praaeeds stwll be applied to the sums secund by this �e:•;<�
<br /> , '��:�>..`�,
<br /> Saurity Instrument, whether or not than due. with any exass paid to Bonower. In the avent ot�partid uki�g J'',:�i;`•;
<br /> -. - ---:-_.,--- o! ths Pra�^� i� which the fefr mnrkst veltte of t4�e Qro�a�u immx�letely befor� tht te�ing ig e.q��! to or �:�«"
<br /> grater than •l�he amount o( tha sums socurcd by this Socwrity lnstrument immedlately betore the talcing. unless � ' `l'�
<br /> � ° Borcawer and l.ender o!herwjso �gra fn writing, the aums secured by thls Security Instrument shall be nduad ��� ����
<br /> ���'�' by the �mount of the proexds multiplied by the tollowing fraction: (a) the total amount of the sums sacu�eA •` '� ��'
<br /> •.,�,,: ..
<br /> '• '��.�''"• ���1,;;' immediqtoly before the taking, divided by (b) the fatr mar�et volue of the Property immediately before the '� I�t��"�� �i
<br /> t � `,�•�;�
<br /> � �,��� • tAking. Any balanoe shall be p�id to Borrower. In the event oi a partfal taking of the Property in which the fair , •
<br /> • ,y marlcet value of the Property immediataly betora the taking is las tf�an the amoun1 at the sums secured � �•��
<br /> immedf�tely be(on tha ta�fng, unless Borrower wnd Lender otherwis= agree in writing or unlcsc�ppliable law
<br /> otherwise provides, the prooeeds slull be opplied to the sums secured by this Security Instrument whether or not i
<br /> • tha sums are then dua � �•a
<br /> 1�• Ii the Property is abandoned by Borrowcr, or lt. atter notia by I.endcr to Borrower thet tha condcmnor ' .F::.
<br /> ��' • ofiers to make an eward or settle a claim tor damages. Borrower iails to respond to Lender wlthin 30 days a[ter �
<br /> � �� �� the d�te the natia is given. Lender is authorized to collect and apply the pr000eds, at its option, either to
<br /> ;; ,
<br /> � restoretion or repair ot the Property or to the sums securcd by thls Secprity Instrumen�t. whether or not then
<br /> i dua. ,
<br /> ilntess Lender and Barrowcr otherwise agree !n writing. any application oi praaeds lo principal shall not , .,
<br /> �F extend or pastpone the due datc of the monthly payments referred to in paragraphs 1 and ? or chan�e the amount
<br /> �� oi auch paymcnts.
<br /> � 11. Borrower Not Releas�d; Forbcannee By I.endcr Nol � Wdver. Extension of the time tor p�ymcnt ur '
<br /> modillcation of amortization of the sums socurcd by this 5vcurity Instrument gr�nted by Lender to any suooes�or
<br /> in intcrest of Bonower shell not operate to rolease the liability at the original Aorrower or Borrower's cuwessors
<br /> in interest. Lender shall not bc required to wmmence proaoedings against any suooessor in intercst or rcluse to
<br /> �
<br /> extend time !nr payment or otherwise modity amortizatian af the sums secured by this Sec�rity Instrument by
<br /> �. � reason of any det�nd made by the original Borrawer ar Borrawer's sucxessors ln �nterest. Any torbeuanee by
<br /> � LenQer in exercising any right ar remedy sh�ll �ot be a waiver of or preclude the exercise of any right or .
<br /> rErr.edy.
<br /> 12. Soaessoro and Asslans Bound; Jolnt an�l Scvenl Ll�billty; Co-sl�ncrs. Thr covenants and agrecments �
<br /> � ot lhis Security Instrument shall bind and benefit the suoocssors and assigns of l.endtr and �orcower. subjxt to
<br /> ,1 the provisions ot paragraph 17. Dorrower's covenants and agrecn:ents shall be jaint and several. Any Borrower
<br /> who w-signs thls Socurity Instrument but dcxs not execute the Nate: (a1 is co-signing this Security Instrument
<br /> � '��` ' • on�v to mortgage, grant and convcy that Borrower's interest in the Property untkr the terms of this 5eeurity
<br /> ° ,�j.�`:;���� : • lns�r�ment; (b) is not personally obligated to pay the sums socured by this S��curity Instrument; and !rD agrees
<br /> . �' � tihat n.ender a�d any ather Borrower may agree to extend, modily, torbear or make any aoeommodacicens with
<br /> � regard to the axrms of this Security Iroslrument or the Note wi�hout that Borrower's consenl.
<br /> � �•, � 13. Loa� CAw�es. If the loan secured by this Security Instrument is subject to a �aw which sets maxi�r,u�
<br /> ' (' I I�an chuga, and Ihat law is finally in�erpreted so that Ihe imerest or other Ioan chuges collxted or to �r
<br /> . 1�_.. i eollrtted in cnnnectinn �vith the Inan rtic.�rrA tM�i�t.+rl limila �h...• ��� ...� .�..�ti 1..�.. �ti�.a�.���� �...,..+....rw
<br /> c
<br /> =" --- •--... --- ._.... �. .---°• •-• --� --_.. ..._.. ...�
<br /> � � ... . ... .. ..._ . . . b�...�.. ..� �w�.vr�
<br /> bq the omount neassary to redua the ehvge to the permilted limit; arod (b) any sums a0rady collaled trom
<br /> Borrower which exaeeded permitted Id�ies wifl be refunded to Bor�ower. l.ender may choase to make this refund
<br /> t by rcducing the principal owed under eEoe Notc or b matcieo a direet menl to Borroa•er. If a refund reduas
<br /> ' Y 6 P�Y
<br /> . �. princip�l. the reduct�o�will ba trcated as a partial prepayme�e .richout�rty �repaytnent cAarge under the Notc.
<br /> fr l�. Notieer. ARy notix to Borrower provided tor in this 5acurity Onstrament shatl be given by delivaing
<br /> ! i� or by mailin� it by fint class mail unlas applicable Iaw requires use ot anothcr methud. 'I'he notice shall bc
<br /> � : diracted eo the Praperty Address or any othcr addrcss Borrowcr designates by notioc to Lcnder. Any notice to
<br /> i , Lender shall be given by first class mail to Lender's address su�ed hrrein or any other address l.cnder designatcs
<br /> • by notia to Borcower. Any notiae provi�ed tor in this Socurity Instrumcnt shnll be derrt�ed ta have boen 4ivcn
<br /> , to Borcower or Lcnder when Qiven as pruvided in this pare�raph.
<br /> • PUMC ]019 (3/91) Pagc J of 3
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