|
200203395
<br />10, Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full
<br />bcxai::,e of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies
<br />even 'Lf.er fCreClOStrre proceedings are instituted. To reinstate the Security irn7irument. Borrower shall tender in a lump
<br />sure aii a^ cun.s reruired to brine &rrrower's account current including, t,a the extent they are obligations of Botrow•er
<br />..::der .r! Scz-,nz' ore-closure cos?s and ma.torreys' fees and expenses properiy
<br />25S Z;-5t--d W; h tic foreclosure proceeding. Upon reinstatement by Bormwer- this Security Instrument and the
<br />obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However.
<br />Lender is not required to permit reinstatement if: (i) Leader has accepted reinstatement after the catnmencement of
<br />fore, ;sure proceedings within two years immediately preceding the corrxnencement of a current foreclosure
<br />proce:dirr_, (ii) reinstatement will preclude foreclosure on different grounds in the bature, or (iii) reinstatement will
<br />ad :e : :ei affect the pnorit} of the lien created by this Security Instrjrn=t,
<br />I1. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time Of n'tvment or
<br />modil"cation of amortization of the suns secured by _his Security instrument granted by Lender to any successor in
<br />inicre;t of Borrower shall no *. opera.e to r--lease the liability of the original Borro•x'er or Borrower's successors in
<br />;... re
<br />Le-lder 5ha'! not 1? `eGLi :red IO CO 1:TenCe pr[?'Cee�mrs ?r2lnsi A..-IV S; cC -tor rn oaten. °5t o! reN e • e- end
<br />t nc far payment Or etr,e wise modify amortization of t,;e sums secured by Lhis Security instrument by reason of any
<br />den_a l� nn—dL by the orit;nal Borrower or Borrow'er's successors in interest. Any forbearance by Lender in exercising
<br />anv ,r•zht or rertedv shall not be a waiver of or preclude th° exercise of any right or remedy.
<br />12. Successors and Assigns Bound; Joint and Several Liability; Co- Signers. The covenants and agreements of this
<br />Scc>>rit: i ;, .tcm.nt
<br />512 2l1 bind and bcre it the successors and assigns of Lender and Borrower, sub.iert to the provisions
<br />Of pa-agrapt: 9(h). Borrower's covenants and agreements shall be joint and several. Any Borrower wh co-signs this
<br />security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant
<br />and convey that Borrower's interest in the Property under the terms of this S:- trite Instrument; (b) is not personally
<br />oblig :•lred to pay the sums secured by this Securir; Instrument: and (c) agrees that Lender and anv other Borrower may
<br />a accommodations .%I regard to the forma of this Security Instrument or
<br />ree to extend, modify, forbear or make any accomm
<br />tl;e Notc - thous that Borrower's consent,
<br />for in this 5eturty Instnrment shall be civcn by delivering it cr
<br />13. Notices. Any notice to Borrower provided
<br />by mm.riling it by first class mail unless appli:abic law regalres use of another method. The :notice shall be directed to
<br />the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be
<br />given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any
<br />notice provided for in this Security Instrument shall be de2rled to have been given to Borrower or Lender when given
<br />rrs prr:ided in this pz.agraph-
<br />14. Governing Law: Severability. This Security instrument shall be governed by federal iaw and the law of the
<br />jurisdiction in which the Properly is located, In the ev;nt that anv provision or clause of this Security Instrument or
<br />Il:e `.rte conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or the
<br />Note which Carl be given effect without the conflicting provision. To this end the provisions of this Security instrument
<br />and Nor, are declared to be severable.
<br />15, Borrower's Copy. Borrower shall be given a e conformed copy of the dote ant of this Security Instrument,
<br />16. hazardous Substances- Borrower shall not cause or permit the presence, use, disposal, storage, or release of
<br />anv i la:,ardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything
<br />affecting the Property that is in violation of any Environmental Law - The preceding two sentences shall not apply to
<br />titc presence, use, or storage or. the Property of small quantities of Hazardous Substances that are generally recognized
<br />to be appropria.e to normal residential uses and to maintenan:e of the Property.
<br />liorrow•er shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action
<br />by an%. governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br />Environ :mcnial I.aw of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental
<br />or regulator_., authority, tl i any removal or other rcm. - diation of any hazardous Substances affecting the Property is
<br />nccer.sarv, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law-
<br />As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances
<br />b; Environmental law and the following substances; gasoline, kerosene, other flammable or toxic petroleum products,
<br />t.,xic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive
<br />materials. As used in this paragraph 16, "Envirorunental Law" means federal Iaw•s and laws of the jurisdiction where
<br />the Property is located that relate to health, safety or environmental protection.
<br />;vO ^+- uMFORM COVENANTS. Bcrrnwer and Lender further covenant and agree as follows:
<br />17. Assignment of Rents. Borrower uncor,di :ionai ?y assigns and transfers to Lender all the rents and revenues
<br />c t the Property. Bonowz•r authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs
<br />each tenant o! the Propert_, to pat' the rents to Lender or Lcndcr's agents. However, prior to Lender's notice to
<br />r3crrrtcx of fsorrnurr s hreae:h of any covenrr. or 1Crec Trent in the Security Instrument. 13LO -rower shall collect and
<br />recc ;.e nett rrr,a and revem :er of the Prol!er :v irus!ce for the hcncf!t of Lender and Barer -cr. -this assignment of
<br />rc ~a c :c,n, ;it!nrc an :th5cI ;IIt( auta, [IT rrent held rtnr an ;, sizriment foI additional sectmly hilly,
<br />if l under hives nottcc of breach to Borrower: (,1) all rent, received by Borrower shall he held by Borrower as
<br />!ter ;renefit of Lende, rm1y, to ne applICd to the `•,!rr1- secured by the Security hrstnwnellt; (b) Lender shall be
<br />n itl.rd , collect :uIa recelvr ali of the rcrat t +f the Pro ^eery; and (c) each tenant of tine Propem shall pay all rear,
<br />:ur :uu1 tr;;pald to Lcndcr or Lcndcr's a -rent on L.cnder's ti +rifler; ilet1c1r1d t,r 111c MlXlt-
<br />5,,rrower hay, not exceuted any prior asOymnent cat the rent, and Ilan net and will not perform any act that would
<br />prcvt1nt I.cnc}er from excrctsing, its rights under this p arograph 17,
<br />Lender sh:dl not he regnircd to enter upon, take contend of or tnairttain the Property hcforc or after giving notice
<br />of 1,rearh to i3orrowcr. however, Lender or a judicially appointed receiver testy do so at any flag there is a breach.
<br />nt- tiuwsr,,x F11A tocED ()te 'native _ "��
<br />
|