|
200406955
<br />Lender's good t''4" determinadon, precludes forfeiture of the Borrowar's interest in the properry or otllrr r1katetial iritpairrac a u'
<br />the: lien Created by tl is Security Itratrumeru or Loader's se::urqy iurerest. Borrower shall also be is default if Bo:rrrt'wta, dur'ln ' .t
<br />Loam Applicatioll process, gave n►aterially false or inaccurate inturmation or catemenLs to the Lender for failed to rpro,,idc L.e tulr
<br />with ashy material information) in connection with the loan evidenced by the Note, including, but not liuiiited 1::1, tcrIt.:s:cnca.it)ts;
<br />concerning Borrower's occupancy of the Property as -a principal resident. It this Security Instrument is on a lc isc:hokl. Br)rr sc,t
<br />sW1 C01111 0Y with all the provisions of the lease. If Borrower acquires fee title to the Property, the Icaseholil Altrl t:�r. fe:- title ;L<t..
<br />ukit merge unless 1_crtder agrees to the merger in writing;.
<br />7. Protection of Lender's Rights in the Property. If Burrower fails to perform the covenaurs hits Agreeulra,tS -.:Lnt.I:.11 4 it.
<br />this; Security Instrument, or there is a legal proceeding that may significantly affect Lcruler's rights in tote: Ptol;r_r(y e,uch a:;
<br />proceeding in barhkruplcy, probate, for Condemnation or forfeiture or to cnforce laws or regulations), then Lcmoit:r 1:nay dt:, dad r.iy
<br />for whatever is ,recrcisary to protect the value of file Property slid Lender's rights in the Property. Lender's acriorc s rcr y Inc tad:
<br />paying any suns secutred by a, lien which has priority over this Security Ir sirunheut, appearing in court, l;,aytng. : -easot abl_
<br />attorneys' fees wtd entering on the Property to make repairs. Although Lender may take action under this parttgrallh "r.:Lcrttcler lie
<br />not have to do so.
<br />Any Amounts ciisbursod by Lender under this paxagraph 7 shall becorncc additionztl debt of Borrower sx':cure:d 1.�y 111is
<br />Security Lnstrutment. Unless Borrower and 1_endcr agree to either tenors of payment, these ainiuurnts shall bear Intl re:lt groin 1:he LIAN
<br />of disbursernent at the Note rate and shall be payable, with interest, Uponnotii;e from 'L -ender to Bo:rrowc.r I(A4LIr,ri:,tg pa";x,ucnt.
<br />8. Mortgage Insurance. If Lender required mortgage insurance as a e;oadltiou of rna.kulg tile: bare sr<.:ure:ct I,y Oils Stre tr.r:;
<br />Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance im effect. If, f0r atty reason, till,:
<br />mortgage insurance; Coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the pr: rrtiunzs c.luiv;l.ler;et to tiff.
<br />cost to Borrower of the mortgage insurance previously in effect, train ark alternate mortgage in trer approved ley L.cnchn'. I t
<br />substantially equivalent mortgage insurance uovrrage is not available, Borrower shall pay to L.eruler each month a St:zn equal to One
<br />twelfth of the yearly mortgage insurance premium beirk2 prod by Borrower where the insurance coverage lapsed tJr ceased tic i r- i ►
<br />effect. Lender will accept., use and retain these payments ns .a loess reserve in lieu of Mortgage insurance. Loss: resr_rtie: payru -nt:;
<br />tLtay oho longer be required, at thr option of Lender, if mortgage insurance coverage (in the amount and for llle 1 >eriud that 1..e,icLr.:r
<br />requires) provided by an insurer approved Lender again becomes available and is obtained. Borrower shall pay the pn_IniLUn.;
<br />required to maintain mortgage insurance in effect, for to provide a loss reserve, until the requirement for rulortt;ag,c insura_ni_:e etkc s ilk
<br />ac cordwwt with any written agree menc between Borrower and Lender or applicable law,
<br />9. Inspection. Lender or its agent may make rcasomtble entries upon and inspections of the F'ropercy, f_e::t -der sh,rl.l ,i v
<br />Borrower ncltiCe at the time of or prior to an inspection specifyihlg; re_asorrable cause for the inspection.
<br />10. Condemnation. Tile proceeds of any award or claim for damages, direct or consequential, in conne:ar.tc(t will) a.1-.
<br />comderuLmrion or other talang of .tiny part of the_ Property, or for conveyance in lieu of C0llderlulaLlOn, are hereby ssi;?hx d :ulc3 : it.d[
<br />be paid to Leurlvr.
<br />lu the event of a total taking of t c: Property, the proceeds shall be applied to chc: sums Secured t:)y this Sft.:UlIty I ostnenl -W.
<br />whether ur rat tllert due:, wityl aa.y excess paid to Borro>.ver- In the; t :vent of a partial taking; of ul7e Property lnl vvhi<h rltr_ t,tir ruarhxct
<br />value: of [lie Property inuncdiately before the taking is equal to or greater than the amotuit of the stuhhs sec,urecl bv this Sect rit
<br />Irutrehutre:ut inuuedi.ately before the caking, unless Borrower and Leader otherwise agree irk writing, flit :in[]),; �4r.GtlAA by t.;
<br />Security Instrument shall be reduced by the amount of tilt proceeds multiplied by the following frac;tion (a) the total. anheuut of t:1 t.
<br />sums secured immediately before the taking, divided by (b) the fair market value of the Property inrnlediately, hefthrc: the cif ni
<br />Any balance shall be paid to L- orrower_ In the event of a partial taking of the Property in which tltt; fair marlcce: value of c3c
<br />Property immediately before the taking is less than the arnaunt of the sums secured immediately before the taking, urtlt s,j 9c: rro%vc
<br />and Lender othurwwise agree in writing or unless applicable law otherwise provides, the proceeds shall bc: applied t;) ill--- s tri:;
<br />secured by tilers Security Inscruni.cut whether or not tltC sums arc: t eLL due.
<br />If the Property is abandoned by Borrower, or if, after nraicc by Lender to Burrower that the cundt:u riot shrines to u)ak, w
<br />award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the n.otiCe is t7IVe11, t e 1:rdc.r i;..
<br />authorized cc, collect and apply -;he proceeds, at its option, eidier to restoration or repair of the Property or to tier_ st.t�n:, st:cltt'ec by
<br />this SeCuuity Insuwnent, whetht:r or not then due.
<br />Unless 1- adt:r and Borrower otherwise agree in writiutt;, any application of proceeds to principal slh;sll not r "xtetx ..)1
<br />postpone the due dart of the rno:uthly paynhenrs referred to in paragraphs 1 and 2 or change the amount or such payt.ne t.tts.
<br />I1.. Borrower Not Released; Forbearance By Lender Not: a Waiver. Extension of the rime for paytnertt c:tr inoditica jo.e -
<br />of'amottizati -on of the stun:; secured by this Security 111: ;trurrhent granted by Lender to any successor in interest of Borrower stall nee
<br />ope,rt,w to rt:lease the liability of the original Borrower or Borrower';; successors in imeree.t, Lender :1tnII not be 5eQuirCC e_
<br />ccmmence proceedir),gs against any successor in interest or refsse to extend time for payment or otherwise tnoclif' L1l10 tiZALioV of
<br />tie sums secured by this Security Instrument by reason of tiny demand made by the original Borrower or Borro"ve-r's succ -essor ; i r
<br />interest. Any fo.rbearrtnr:e by Lender ill excrc:ising any right or remedy shall not be a waiver of or preclude the ext- rcis °: of any r g:11
<br />or r,shnedy.
<br />12. Successors and A:;signs Bound; Joint and Several Liability; Co- signers. The covcn;4ms ara; ati; e+ ulerlts �t' hi;
<br />Security lr.strumurir shall bind and benefit the successors and Aa:sigu:; of Lchlder and Bonowcr, :subjr::: to Chu i�rul.isistitl5 0l
<br />paragraph 17. 13orrowrr's covenants and agreerlhcnts shall be joilu and several. Any Borrower v✓llo co- sigtns :hi .s Sccu ily
<br />lustnunerlt but does riot execute the Dote: (a) is co- Signing dris Security lwcrutnent only to mortga,i e, grant .and couvt:y that
<br />Borrower's interest in file Property under the terms of this Security Instrument; (bb) is not personally oblig,dtc,l to .pay the: sh 11 :;
<br />secured by this Security Instrument; and (c) agrees that Lender ahhd any other Borrower tuay agrots to extc:rtl n:LocLifv, forbear C.),
<br />mxkc any Accommodations with regard to the trans of this Security Instrunlen[ or the Note without that Borrower, S ccanset,tt.
<br />13, Loan Charges. If the loan secured by this Security I:nstnulli--ut is subject to a law which seta rno
<br />sinlnm loam cllargr,:;•
<br />and that law is finally interpreted so that the interest or other loan charges colle cttd or to be collected in connection with ate It.)an
<br />exceed the permitted limits; then: (a) any such loan Charge shall be reduced by the amount necessary txo reduce dot Jhar;pt to chc
<br />permitted limit; And (bb) any suss already collected tram Borrower which exceeded permitted limits will be refwuled to Borrow-,.
<br />Lender may choose to make this refund by reducing the principal owed under the Note or by marking a direct payment io Borr-ovver.
<br />If A Mfw1d reduces principal, the reduction will be treated as a partial prepayment without arty prepayment charg;c utldi r etc Ne;te
<br />14, Notices, Any notice co Borrower provided for in this Security Instrument shall be given by delivering it a by nci.il ht;
<br />ht by first class hruhil unless applicable law requires use of Another method. The notice shalt be directed to the Property /).cttiress or
<br />any other address Borrower designates by notice to Leander. Any noric.: to Lender shall be given by first +:lass 1 uh.i] w I.eudcr',
<br />stare :;s stated herein or any ocltj:r Address Lender designates by notice to Borrower. Amy notice provided for in this Scum icy
<br />Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this, paragraplh..
<br />1VEt31{.45'Lf�1- S4491r Ma,%IFrcdd7r Mac UNIF01W I S1RUAMAT
<br />f,,'n J.73tr;,IAi rpeeo, - e, /5,:a:: ..
<br />C30 /Vo :39Ca 1110 3-11I1 I_L'7 0 Lf81- ,3ESFc :t, r ''tioJ ' r" I :' ' kt
<br />
|