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<br /> � �n�'. :.t � .� .� substantialty equivalent mongage insurance covetage is n�qt avaitsble.Hohower shail pay to Lcnder each moath a sum equal to �. F"�� � �
<br />—� � - � � - . o n e�t w e l ft b o f t h e y e a r l y m o rt g a g e i n s u r a n ce g r e i n i um b em g paid b y Bornswer�vhea the insurance oovera ge la p sed or ceased to� ` . •
<br /> " ` �� ' be in effect.Lender evil{accept.ase and retain these payments as a toss reserve in lieu of ntortgage insvraa�e. Loss res�rve� � , .
<br /> e
<br /> -� . �� �F� . ' ,�� payments ttmy cto ton�er be required,at the option of Lender.ef mortgage insurance rnverage(ia the aLnount anai for the period <�� f �
<br />-� •'. £� that L�nder requims?Provided by an insurer apprnved by i.ender aga�n 6ecomes uvaitable und is obtained.Botro�ver shall pay 1 .'
<br /> �� • � � • ` the premiums required to maiatain mortgage insurance in effect.ar to provide a lass rescrve,until tlte requitemeat for raortgag� � • � ` �'
<br /> _'� - . � ' insurQnce e�s in accardaate with any written agreement between Bo�tower and l.ender or apglicabte la�v. i� ' .. ,,..
<br /> _ . . , ` 9 InspeMton.Lender or its agent may u�ake reasanable entries upon and ins�ions of the Pcoperty. Lender shall gi� �
<br /> , � �, Boma�ver notice at the time of or prior to sn inspeetion speeifying ceasanadle c�use for ti�e inspection. .
<br />_� �!•� 10.Coatte�nt{tton. The praceeds of arry awa�or claim far damages. direet ur cnnsequential,in cunnection with� . ;
<br />=:�,. �`,� �" " , condemnatioa or other taking of an}r part of the Property,or for conveyance in lieu of condemnation,are hereby assigned � �� .
<br /> :;�-. . . • sha116e paid to Lender. . � ' .. ,
<br /> 4°��:�_ � ' In the evc�t of a total taking af the Property.the praceeds shaq 6�applied to the sums secureJby this 5ecurity Instnim�dt, . `. _
<br />- ;: - - -- -- - � whether or not then due. aith azry excess pa�d to Eorrower. In the event of a paztiai taking af'the Progerty in wh"s��th�fsur �`'x- �•.....�_..x:,.
<br />= ' - > • market value of the Property immed�ately before the taking is equal to or greater than th�amount of the sums secured by this -� ' .
<br />_ . ` . Security Insiniment ia:mediately tsefore the taking.uatess Borrower and I.ender otherarisE agree inwreting.the sums sep►red by . � ,�; �-
<br />= �; -��� -� this Security Instrument shall be re�uced by tlie amount of the pmceeds mul6plied by the foltowing fraction: (a)the total
<br /> -?. � , �-' � amount of the sums se�vred immediatefy before the taking.ditiided by(b)the fair market vafue of the Property iminediateiy . •
<br /> � .. � ' before tlie taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair � . •4•r� . �`
<br />- � � ' mar[cet value of the Property immediatety before the taldng is less than the araount of the su�s secured immediately beEore the `,�5.�3'�i�
<br /> -- . . . taidng,ualess Hortower and Leader otherwise agree in writing or unless applicable law otherwise provides, the prooeeds sha11
<br /> ,; ' be applied to the sums secured by this Seairity Insmrment whether or not the sums are then due. . :`
<br /> •. . ' If the Property is abandoned by Borrower.or if,after notice by Lender to Borrower that the condemnar offers to make an `';,'"��
<br /> . 's_.',
<br />= ' � - ' award or settte a claim for damages. Borrawer fails to mspond to Lender within 30 days after the date the notice is given, � . �4
<br /> : • . ' I�.roder is anthorized to colted and apply the pmcceds.at its option,either to restoration or repair of the Property or to the sums . r- � •�
<br />_ ' secttted b y this Securi ry Instnunent,whether or noc then dae. �•�'.-t�� ;
<br />-` , Unless i,ender and Borrower othenvise agree in writing, a�ry application of proceeds to principa►shalt not eatend or ' '�~- .
<br />; , : � _. postpone the dae date of the ruonthly payments referred to in p�ragraphs 1 and 2 or change the amount of such paymercts_ '�k4�i?'
<br /> .+; � . ,, 11.Borrower Not Releaset�;Forbeaiance By i.ender No!a Waiver.Eqtension of the ti�ne for payment or raodifr,ation . �_: ,�€,.:�
<br />-_.. �; ,, . . � of amorti7ation of the sums secured by this Securiry lnsvument�anted by Leuder to acry succ�ssor in imerat of Borrower shal! _•� �_. _�•_.,�
<br /> = ---- .:� -. . - .. not operate-to.release the-liability of the original.Borrawer or.Borrawer's successors.in.interest..Lender.shall nat.6e��equired_ta._. .__...._ ����-�-.
<br /> ' . •. cammence prooeectings against any successor in interzsi or refuse to extend dme for payment or vtherwise madify amortiration „ �
<br /> • , of the sums secured by this Security Instrument by reason of any demand made by the origiml Borrower or Borrower's '"�±'�r�;`--�
<br /> , ' :::��;=';
<br /> • successors in interest. Any forbearance by I.ender in exercising any right or remedy shall not be a waiver of or prectude the �••:, y;,W���
<br /> - . ` exercise of any rigf►t ar remedy. + '�K'•';i;�.�'
<br /> � _ � 12. Succcssors and �igns Bonad;Joint and Severaf Liability; Co-sigaers. The coveoants aud agreemeats of this -� =°.�.P-•
<br /> s
<br />= .� � Securiry Instivment shail bind and benefit the successors and assigas of Lender and Borrower.su6jece tu tfie provisions of
<br /> y - , ; . • paragraph 1?. Bomawer's covenants and agreements shall 6e joint and several. Any Borrower who co-signs this Securiry %.°,���!
<br /> : ' Instrument but does not eaecute the Note: (a) is co-signing this Security Instrument oniy to mortgage, grant and convey that _
<br /> -• . . , Borrower's inter�st in the Property under the terins of this Security Instrument;(b)is not personally obligated to pay the sums �_�
<br />_ . . - • •� secured by this Security Inmvment:and(c)agrees that Lender and any other Borrawer may agree to extend,modify.forbear or . �
<br />- ' � • . make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's canseni. ' ;,
<br /> - " 13.Loan Chafges. If the loan seeured by this Security Instrument is subject to a law which sets maximum toan eharges. `` ' , �.�Y�
<br />=;,�. and that law is finally interpmted so that the interest or other loan charges wllected or to be c�llected in connection with the }
<br /> �' • • � ' loan exceed the pemutted limits,them(a)any such loan charge shaU be reduced by the amour,t��essary to reduce the charge �. _ _ _ . '�'•'
<br /> • to the permitted limit:and(b)any sums atready rnllected from Borrower which exce�ed pemrirted limits will be refunded to •;,g;' •':�
<br />- -�-------`-- : P�orrower. Lendet may choose to make this refund by reducing the principal o�sed under ttie Note or by making a direct : �' :- ".:;!�
<br />_ . t�. ,
<br />- : ' . payment to Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment cvithout any .`�� � �
<br /> �•�•� ' � . • ' prepayment charge under�t::Note. .,�,, ,:, '
<br />= ' ' 14.No�a�.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mai ling •it �.-,� ":
<br />-;,�;, � . ' . it by first cizss mail untess applicabte law requires use of another method. The notice shall be directed to the Property Address : • �;-r,' - '
<br />_ or any other address Bor:ower designates by notice to Lender. Any natice to Lender shall he given by first class mail to �-�? �� �
<br /> •. 'TM- . � � � " F.ender's address stated her�in or any other address Lender designates by notice ta Borrower.Any notice protiided for in this �;;;•��.,�.;.: ' '''���:
<br /> � ' � " • Security Instrument shall t�e deemed to have been given co Sonower or L,�;nder when a sen as provided in this paragraph. ';��s�'�"';�,/�;.��y�:
<br />-�'' • ' 15.Goveming Law; Severabillty. This Security instrument shall be govemed by federal law and the lawof the `��'��:; ;:. ' -
<br />_.- . .._, __ _, '� jurisdiction in which the Property is located. In the event that any pravisian or clause of this S�uriry Insnument or the Nate __
<br />- �. � . , conflicts tivith applicabte law.such conflict shall not affect other prov�sions of this Security lnstnaan.nt or the Note which can be ' • I
<br />- • � � given effect without the confliMing provision.To this end the provisions of this Security Instrur.ient and the hote are declarerl ' •' '-� �
<br /> ' . �be severable. � " . �; �. }
<br />_ '` 16.Eorrowe�'s Copy.Borrower shall be given one conformed copy of the Note and of this Securiry Instrument. • �� • � '' ' +,
<br />�--"•!�# '• - . 17.TraasPer of the Property ar a Ben�ciai Interese in Borrowen If all or any pan of the Propeny or any interest in n ,: �� ,Y�
<br /> . � � is so ld or transferrcd(ot if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural erson)without ''k. �4"�•
<br /> P _:,,..._ �..
<br /> ` ''' ' l,ender's priar written consent, Lender rttay, at its option, require immediate payment in fu19 of all sums secw•ed by this � . � � �;
<br />�� � 5ecurit Instrument.However.this o tion shall not be exercised b I.ender if exercise is rohibited b federal law as of the date ��}'
<br /> ,:.1'i� . Y P Y P Y � .. i .
<br />�_. : , . of this Sec�rity Instrument. '.��;
<br /> . • � If l.eRder exercises this option.Lender shall�ive Borcower notice of acceleration.The nntice shall provide a periad of not r`:�,,,.
<br />-� '. � less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this ':. � ;
<br />_.: �.� . � -� " , � Security Instrument.If Bonower fails to pay these sums priar to thc expiration of this period. Lendcr may invoke any remedies � ��
<br />�;�;�; • , ._ ' � permitted by this Security Instniment without further notice or demand on Borrower. � `•• ..+'
<br />� f • • ' � � l8. Borrower's Ittp,hY to Reinstate. If Bonower meeis certain conditions, Borrower shall have the right to have � ��`•
<br />_�!;�'�� •• . � enforcement of this Securiry Instrument diswntinued at any tirtte prior to the earlier of: (a)S days(or such other period as •�� •�'!
<br />�!� �� . applicabte law may cpecify for reinstatement) before sale of the Property pursuant to any pawer of sale contained in this . :•:' �:
<br />'j..;.•�: ' Security Instrument:or(b)entry of a judgment enforcing this Security Instrument.Thosc ronditions arc that Borrower:(a)pays
<br /> =��'• • Lender all sums which then would be due under this Security Instrument:u�d the Note as if no acceleration had occurred: Ib) �
<br />� - . : cures any default of any other covenants or agreements: (c)pays all eapenses incuaed in enforcing this Security instrument. • . .a•..�;j'
<br /> including,but nat limited to,reasonable attomeys' fees;and(d)t�kes such action as Lcnder may rpsonabty rcquire to assure :; R '
<br /> y , that the,lien of this Security Instrument.Lender's rights in the Property and Borrower's nbligation to pay the sums secured by �'
<br />'� - � " �. this Security Instrument shall continue unchnnged. Upon reinstatement by Borrower, this Securrty Instrument and the � �_' � �
<br />:s ` . obtigations secured hereby shall remuin fully effective as if no acceleration had uccuned. However, this right to reinstate shall � ' . •'`� �L�
<br /> ""�' � - not apply in the case of aCCeleration under paragraph 17. ' " ''
<br />�,;�. � . 19.•5ale of Nnte; Cfiattge oY Loan 5ervlcer. The Note or a parttal interest in the Note(togcthcr with this Sccuriry l `},�
<br />--� ° � Instrument)may be sold one or more times without prior notice to Borrotver.A sale may result in a chanbe in the entity(known . '��
<br /> '''2 ' as the"Loan Servicer")that collects monthly payments due under the Note and this Security Instrument.There also may be�ne � - ..�
<br />-`r'� �. .��'_ _� _ � � . or more changes of the Loan Servicer unrelated to a sale of the Note.If there is a change of the Lo;u�Servicer,Barrower will be t � � � .�.�: „�
<br /> � � 6iven written noticc of the change in'arcordance with paragraph l4 above and applicabie law.The notice will state the name and � � ,. ;
<br />�f•~�,�. � • . address of the new La;u� Servicer and the address ta which payments shauld be made. The notice will also contain any other � �. . ,.
<br /> _. ' � informauQn require�i by applicable Iaw. ' � ,
<br /> . • �� � . l0. Ha�ardous 5ubsWnces:Barrawer si�all nnt cause or permit the prescnce. use, dispusal. storage. or release of any � .
<br /> . • Hazardous Substances on or in the Praperty. Bonower shall not do, nor allow anyone else t� dv. �nythin� affecting the ' '
<br /> ' „• ' � -•--- P�a�rty t�t is��ri4lat�oa of anY Enuuonmeata!L�i�r.The precedln�t�Y4 sentences s�!! cu��Ypply tQ the pr�aenc�.use.err �._. _ _ :.:!
<br /> � �` � � , � storage on the Praperty of smali quantities af Hazardaus Substances that:ur generally recagnized to be appropriate tn nurmal � T �
<br /> � . �. . residential uses artd t��maintenance of t6e Propeny. ; �
<br /> � � .M1 ,I
<br /> ' ' �.xio a oe a form 3028 919Q ` • . • :i
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