|
,�S_1,� � . .M��: 4}'�`. ',,� , `''.,�'�;'�
<br /> �..a �
<br /> ' ""N-'. '_ ' '
<br /> , F� �
<br /> , ' ' � . . q,�- �tra�.�t,� . .. , .
<br /> ;; subetintially Aqutvala�t mortgaQe insuntxa coveragp ia not iYtil�Fik.�c►r►+awer efu�it y to L.endet aich aanth��m►rqud tq
<br /> one-tweltih of the y��Iy mort84ta ii�iur��x�Pien�un�baing paid�y Puzr�owee tyhen��se�Mnae caveraEe l��eti cx t,riwd w
<br /> • bc in tffect.Lcnd�r will atcept,us¢+end Kuin thesep�+ments�s a loss rescrvo in Hcu u�' ii'iUiigu�E insurana:. l.�:�; t�.�z
<br /> ' payn�ents muy no tonger Ge requircd.c�t the c+ptto�i of Lc��dec.if inartgaso insurance covera$e(tn the acnot�nt�+�xt f�r the petic�d
<br /> ° th�t I.cnder rc�uires}provldecl by en lnturcr s�ro��d by Lender s�gain beoa�nGx availahfe atxt 1R obtained. �onnwtr sh�ll pry
<br /> tho premiams reauired to mdntdn m�nrt�t+�o insurac�ca in efPoct,or to pravide a lass aserva,untll the requlrcn�ent for masriyr,ye
<br /> lnsuranae ends in�ca�rdance with any wduen Ag�ment betwan Bonower and I.ender or spplic��lo law.
<br /> St.i�pectlon. Lencler ar ita e�4nt r�wy mafce rexsorwblo enMes upon ar�i inspections of 1he Propetty. Lender eh�ll g(v,o
<br /> �orrowec rtala at the time pf or pN�r to nn inspection epoclfying rt,asonable cwae for the inxpection.
<br /> 10. G►ndemtuttton.Tho proccxds �of the APraperey.cor urfcu�vey�+�ucee in 11�tuf co dc�mnatfon.�am hrmb�ussignnt�
<br /> condemnatlo�or other takinb of any patt
<br /> sball by paid to Lsnder.
<br /> In the evera of a totul taking of tha Proprrty.the Pt�dR ShAll be applied to the eums serurcd by thla Securiry utstrument.
<br /> whether or not tken due.with nny sxass paid ta Bnrrower. In the event oF u parttul taking of the Property in which the falr
<br /> markrt valuc of the Propccty imr�x�diatcly before the taking is equul to or greater than the amount of the sums r�ecurod by thie
<br /> Security Instnunent immodiatcly before the tuking.unlas Horrower w�d Lender othenvise ngree ir wrlung.the sums isocured by
<br /> t}ds Securlty Insuument Rhnll bo reduced by the nmount of tha procceda multiplled by the following fraction: (a) tho toul
<br /> a�nount of the sums secured ittunediuteiy beforo the taking,dtvlded by (b)the fair markct v�1ue oP ths Pro�ty immediAtely
<br /> before the tnidng. Aay balance shall be paid to Borrower. In the event of a partial teking of the Property in which the feir
<br /> market value of the Property immediately before the taking is less than the amount of the sums secured immediately befora tho
<br /> taking.anless Borrowcr and Lendcr oihecwise agree in wdting or unless applicab181nw oiherwise provtdes,the procceds shail
<br /> be applied to the sumg secured by this 5ecudty lnstrument whether or not the sums are then due.
<br /> If the Property�S aburtdoned by Horrower.or if.atter nottce by Lender to Borrower tluit the condemnar offers to rnahe nn
<br /> awand or settle a claim for damages.BorroW+er fails to respond to Lender w[thin 3b days after the date the nodce ia glven.
<br /> a
<br /> Lertder is suthori�.ee1 m cc�llect end apply the proccxds.at iu option.either to reswrat3on or repair of the Pmpe�ty or w sums
<br /> ,, '��` secu�d by thjs Securiry Insmunent.whether or noi then due. lication of raceeds to rinci al shall not extend or
<br /> . ,, �;+�:4^ Unless Leader and BorroWer othenvlse agtee ia wdting. aaY 8PP P P
<br /> :. . . �.. . postpone the duc dats of tho monthly paymenta referred to inparagtaphs 1 and 2 or change the amount o such paymenes.
<br /> '� y�:� .:;a�,,.� 11.Borrower Not Relt�sed;ForbearAnce By Leuder Not e Wajver.Extension of the dme for payment or modificatlon
<br /> ���`'"" ���`��. of emortizadon of the sums secural by this Securlty Instcument granted by I.ender to any successor in interESt af Borc�wer shall
<br /> ' '� °�� not operate to releass the linbllity of the original Borrower o-Borrower's sucexssors in interest. i.ender sh�ll not be c+e�ui�ed to
<br /> ��.�',``;"`. . �:'' oommence proceadings against any suocessor Ia interest or refuse to eactead time for payment or osherwlse modify amortization
<br /> ti :��.: ... .
<br /> �"�• ���;':��, '•Y of the sums seeuc�ed by this Securiry Instrument by reason of any demand made Uy the original Borrower or Bocrower's
<br /> ''i'�'''' ' ' successors in irttemst.My forbearance by Lender in eaenising any r�ght or remedy shail not be a waiver of or pmclude ttie
<br /> �.� �
<br /> � !-�•: . caercise of any right or�+eme�y.
<br /> � •� �• � 12. Suocessors and Assigns Boun� Jotnt and Several E.iability; Casiguers. The cmvenants and agreements of this
<br /> ��, '; Security Instmment shall bind and benefit the successors and assigns of L.ender and Borrower. subject to the provisions of
<br /> psrsgrsph !?. BormwQr's c�vPnants and egr�oements shall be Joint and severul. Any Borrower who co-signs this Secudty
<br /> `� " Instnunent but dces not execute the Note: (a)is co-signing this Security Instrument only to mortgage.grant aud convay ii�ut
<br /> � Borrower's Interest ia the Property under the terms of this Security Instrument;(b)is not personally obligat�d to sy!he�ums
<br /> , • , , secured by thjs Secudty Instruntent:and(c)agreES that 1-ender and any other Bornuwer may ugree to eRtend�modity.forbear or
<br /> , � meke any aocommodattons with regard to the terms af this Security Instrument or the Note without that Borrower's consent.
<br /> 13. I.oan Charges.If the loan secured by this Security Instrument is subject to a law whtch sets maximum loau charges.
<br /> � and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the
<br /> , � loan exoaed the permitted limits,then:(a)any such loan charge shall be reduced by the acrtount necessary ta reduce the churge
<br /> " to the perniitted limit;and(b)any su�nc already coltected from Borrower which exreeded permitted limits will be refunded to
<br /> Borrower. Lender may choose to make this refund by reducin� the principal owed under the Note or by making a dicect i�
<br /> payment W Borrower. If a refund reduoes principai, the reducuon will be treated as a partial prepayment withaut any �y
<br /> ' „ prepayment charge under the Note. •� `
<br /> 14.Notices.Any notice to Borrower pr�ovided for in this Securiry Instrument shall be given by delivering it or by mailtng t�.`•
<br /> • it 6y first class mail unless applicable Iaw requires use of another method. The notice shalt be directed to the Property Address .
<br /> � or any other address Borrower designates by notice to Lender. Any notice to Lender shall be giveu by first class mail to
<br /> �• Lender's addmss stated herein or any other address Leader designates by noqce to Borrower. My notice provided for in thls .'_
<br /> Security Instrument shall be deemed ro have been given to Borrower or L.ender when given as provided in this paragraph. ,.,,,
<br /> , ��^ 15.Governing Law; SeverabiUty. This Securiry Instrument shull bc govemed by federal law and the Iaw of tha ,
<br /> , judsdiction in whlch the Property is located. In the event that any provision or cluuse of this Secudty Instrument ar the Note
<br /> ' confliets with applicable law.such contlict shall not affect other prov�s�ons of this Security Instrument or the Note which ean be
<br /> , .. � , given effect whhout the conflictt�g provision.To this end the provisions of this Security Instrument und the Note are declared
<br /> • � to be sevetable.
<br /> 16.Borrower's Copy. Borrower shall be�iven one conformed rnpy of the Note und of this Security Instrument.
<br /> '� •. 17.Trnnsfer of the Property or a Ben�clal Interest in Borrower.If all or any part of the Property or any interest in it
<br /> �' �• is sold or transferred(nr if a beneticial interest in Borrower is sold or transferred und Borrower is not a nutural person)without ,
<br /> Y��:� , � ��� Lender's prtor written rnnsent, Lender may, at its option. require immediate payment in full of alt sums secured by this
<br /> i. � � � � Security Instntment.However.this option shall nat be exercised by Lender if cxerctse�s prohibited by federat luw as of the date
<br /> , • ' ° of this Security Insuument.
<br /> . " If Lender exercises this option.Lender shu11 give Borrower notice of aoceleration.The nottce shall provide a period of not
<br /> ''�'� less than 30 days from the date the notice is delivered or cnailed within which Borrower must pay all sums secured by this
<br /> .� Securlty Instrument.If Borrower fuils to pay these sums prior to the expirution of this period, Lertder muy invoke any reme�{es
<br /> permitted by this Security Instrument without further notice or demand on Borrower.
<br /> • " � I8. Berrower's Ri$ht to Relnstate. If Borrower meeu certnin conditioris, Honower shull have the ri�ht to have
<br /> ; enforcemenc of tttts Secunty Instrument discontinued at any time prior to the eaclier of: (a) 5 duys (or such other period as
<br /> � applicable Iaw may specify for reinstatement) before sale of the Property pursuant to any pawer of s�le wnuune� in this
<br /> � . Security Instrument;or(b)entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:(a1 pays
<br /> Lender all sums which then would be due under this Security Instrument and the Note as if no ucceleration had accurred; (b)
<br /> �. ' cures any default of any other oovenants or agreements;(c)pays alI expenses incurred in enforcing this Security Instrument,
<br /> �• including,but not limited to,reasonable uttomeys' fees;and (d) takes such action as C.ender nwy reasonubly require to assure
<br /> � ' that the lien vf this Security Instcument,Lender's ri hts in the Pmpeny and Borrower's obii ation to puy thc sums secured by
<br /> _�_�� _ ......60....� 1 Tmn miectatPment hV Bormwer. �1S �CCUfItV Instrument i1Rd the
<br /> U113 JCCIIRIr lIWtI{IlitGiti anwt �v�iu.:::o ...........p�-. -r-" -
<br /> ° obligations secured hereby shall remain fully effective as if no ucceieration h3d occurred. However, this right to reinstate shall
<br /> , aot apply in the case of accelerntion under para�raph 17.
<br /> " 15�. Sale of Note; Chunge ot[.oan 5ervicer. The Nnte or u parti�l interest in the Note (together with this Sccurity
<br /> Instrument)may be sold one or more times without prlor notice to Borrower.A sstle may result in a change in the entity(kn��wn
<br /> as the"[.o:uf Servicer")that colierts moathly payrr�ents due under the Note und this Security Instcument.Then also may be��tie
<br /> � � or more changes of the Loan Servicer unrclated ro a sale uf the Note.If thecc is u chnnge of the Loan Servicer,Bnrcawer will be
<br /> given written notice of the change in accurdnnce with paragraph 14 above;uid upplirable taw.'fhe notice will state thr name und
<br /> ,�, uddress nf the new l.nan Servicer und the uddress to which paymentti she�uld be made. The nutice will niso c�mtuin uny other
<br /> ,, informution required by applicable law.
<br /> 20. Hnanrdous Substanres. Borrower shall not cause or permit the pmsen��e, use, dispo�al, storage, ur rclwse of any
<br /> ' � Ncvardous Substances on or in the Pmperty. Borrowcr shall not dn, nor ailow anyone elsc to d��, anything affc�:ting the
<br /> . • Property thut is in vinlation of uny Environmentui l.uw. Thc prere�ling two scntenccs,hu{t not app{y to thc pm�enre.u�c. �n
<br /> �.• "� storuge on dte PropeRy of sm:ill quuntities of Hux:scdous Sub.rtunces that:ve generslly recagni�xd t�i be appn�priute to nortnal
<br />' �j', � residentiat uses and to m:sintenun��:of the Property.
<br /> �� ' PaUO3��a Form 3028 9180 ��
<br /> ; , j,
<br />
|