|
<br />'-"'.'--" "'<" -,-.'....'
<br />. --'-.-- _.~ .'--_. .'~'.~_.
<br />
<br />'.,;,,"' ,.....'"
<br />
<br />11'
<br />I~
<br />~
<br />f7
<br />ifJ
<br />~
<br />I
<br />.~
<br />g
<br />g;
<br />ji',
<br />,~
<br />f~
<br />~(
<br />F
<br />
<br />88-102225
<br />
<br />[f Lender niquired' monpge insuranu as a condilion of making the loan secured by this s<<iuityIRstn#jjcIDi{t1~~,', .." '
<br />Borrower shall pay tbe premiums required ,to maintai!' the insurlll\CC in elfcct untilsuch time: as therequiremw,forttie", "
<br />insurance terminates in accbrdanuwith Borrower's and Lender's written agreemenl or applicable law;'" ' '" " ,,','. ,.'
<br />8. I~on, Lender or ilS agent maymakerelisonable: entms. upon and inspections of the Property; Lender
<br />mall give Borrower nl!tiu atlbe time of or prior to an iRlipection specifying reasonable C8\15e forthe inspection. ,". ' "
<br />'51, Condemnation. The proc:eedsof any award or Claim for damages. direct or consequenlial, in connection With
<br />any condemnatio.nor otber taking of any part of tbe Propeny, or for conveyanu in lieu of \:Ondenmalion, are heRby'
<br />assigncdaDdShallbepaidto Lender. ' , " ' ,,'
<br />in the evenl of a total taking of the Property, the proceeds shall be applied to the: sums secured by this SecuritY
<br />lnslrument, whether or not then due, with any excess paid to Borrower. In the event ofa panial laking ofthe,Propeny,
<br />unless Borrower and Lender otherwise agree in writing. the sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) Ihe total amounl of the sums secured immediately
<br />before Ihe taking, divided by (b) the fair market value ofthe Property immediately before tbe taking: Any balanu shall be
<br />paid to Borrower.
<br />If the Propeny is abandoned by Borrower, or if, after notice by Lender 10 Borrower that the' \:Ondemnor offers to
<br />make an award or sellle a claim for damages, Borrower fails to respond to Lender within 30 days afu:r the dale tbe noti\:!! is
<br />given, Lender is aulhorized to collect and apply tbe PfOl:eeds,lit its option, either to restoralion or repair ofthe ProperlY or
<br />to the sums secured by this Security Insttument, whetber or not then due.
<br />Unless Lender and Borrower otherwise agree in wriling, any application ofproceeds 10 principal shall nOI eJltend or
<br />postpone the due date of the monthly paymenlS referred to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Releued; ForbearaDce By Lender Not a Wllive1, EXlension of the time for payment or
<br />modification of amonization of the sums secured by Ihis Security Instrument granted by Lender to any successor in
<br />interest of Borrower sball not operate to release tbe liabilily mlhe original Borrower or Borrower's successors in inteRSt.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to eJl1eIId lime for
<br />payment or oiberwise modify'amonization oftbe sums secured by tbis Security Inslrument by reason of any demand made
<br />by thl: original Borrower or Borrower's successors in interest, Any forbearance by Lender in aercising any right <lr remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy,
<br />II, Succeuon and Assigns BoUDd; Joint and Se,eral LiabWty; Co-siJPIen. The covenants and agreements of
<br />Ihis Security Instrument shall bind and benefit tbe successors. and assigns of Lender and Borrower. subject 10 the provisions
<br />of paragraph 17. Borrower's cmenants and agreemcnlS shall be joint and several. Any Borrower who co-signs this Security
<br />[nstrumenl but does nol ellecule the Nole: (a) is co-signing this Security (nslromenl only to mongage, grant and convey
<br />I hat Borrower's interest in lhe ProperlY under tbe terms of Ibis SecUrily Instrument; (b) is not personally obligaled to pay
<br />Ihe sums secured by this Security Instrument; and (el agrees Ihat Lender and any other Borrower may agrcc to extend.
<br />modify, forbear or make any accommodations wilh regard 10 Ihe terms of Ihis Security Instrument or Ihe NOle without
<br />that Borrower's con!iCllt,
<br />U. Loan CIlUllfll, If Ihe loan secured by this Security Instrumenl is subja:tto a law which sets maximum loan
<br />charges, and Ihat law is finally interpreted so that Ihe interest or other loan charges collected or to be collected in
<br />conneclion with the loan exceed the permilled limits, tben: (a) any such loan charge shall be reduced by tbe amount
<br />necessary to reduce tbe charge 10 tbe penDilled limil; and (b) an)' sums already collected from Borrower whicb exceeded
<br />permitted limits will be refunded 10 Borrower, Lender may choose to make Ihis refund by reducing Ihe principal owed
<br />under the Note or by making a direcl payment 10 BOrrower, If a refund reduces principal, the reduclion will be trealed as a
<br />partial prepayment without any prepaymenl charge under tbe Note,
<br />13. ~tfOJl AII'ectln8 Lendet's RIRhts, [f enactmenl or expiration of applicable laws has the elf'eet of
<br />rendering any provision of tbe NOle or tbis Security Instrumenl unenforceable according to ils terms, Lender. at its oplion.
<br />may require immediale payment in full of ell sums secured by this Sec""ly Instrument and may invoke any remedies
<br />pennilled by pllragraph 19. IF Lender naci1es tbi~oplion, Lender shall take the steps specified in Ihe second pllragraph of
<br />pllragraph 17.
<br />14. Notlnt. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing il by first class mail unless applicable law requires use of another method. The notice sball be direcled to 1M
<br />Property Address or any other address Borrower designates by nOlice tO,Lender, Any notice to Lender shall be given by
<br />fi"'l dass mail to Lender's address stated herein or any otber addfess Lender designales by notice 10 Borrower, Any notice
<br />provided for in this Security Instrument sball be deemed 10 ha"e been given 10 Borrower or Lender when gh'en as provided
<br />in this paragrapb,
<br />15. GonmlD8 LaW; Se,enblllty, This Security (nslrument shall be governed by federal law and Ibe law of the
<br />illrildiction in which the Propeny is located. In the evenllhat any provision or clause of this SecurilY Instrument or the
<br />Note connicls wilh applicable law, such conftict shall not affect other provi2ons of this Security [nslrumenl or 'he NOle
<br />whil:h can be given effect wilhoutlhe conllicting provision, To this end Ihe provisions of this SecurilY Inslrumenl and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of Ihe Note and of this Seeuril)' Instrument.
<br />17. T.......er 0' the Properly or _ BeneBcdllDterat in Borrower. If all or any part of the I'roperty or any
<br />inlerest in it is sold or lransferral (or if a beneficial inlerest in Borrower is sold or lransfcrr,'" and narrower is nol a natural
<br />penon) wilhoul L:ndcr's prior wrinen consenl. Lender may, al ils option, rcquire: immediale payment in full of all sums
<br />securCd by thit Security Inslrumenl, However. this oplion shall not be ellCl'ciscd by Lender if el\ercise is I'rohibited by
<br />federal law as ofthe4llle ofthil Security Instrumerll. ,
<br />If Lender ellCrcises this opticn. Lender sball give Borrower notice of acceleralion, The notice shall provide a period
<br />afnol less lhan 30 days {rom Ihe,date the nOliee is delivered or mailed within which Borrower muM pay all sums sccured by
<br />tbis Security Instrument. If Dorrower fails 10 pay these sums prior to the expiralion of Ibis period, Lender may invoke any
<br />remedies permiUed by thil SecurilY Instrument wilhout funher notice or demand on Borrower,
<br />II. Borrower'allIPt to Relalate. If Borrower meets unainconditions, Borrower shall have the right 10 have
<br />enforcemenl of Ihis Security Instrument diKontinued at aoy time prior 10 Ihe earlier of: (a)S days (or such other period as
<br />Ipplic:.able law may specify (orreinSlatemenl) before ule of Ihe Property pursuant to any power of snle contained in Ibis
<br />Securit)',lnstrumen'; or (b)cntfY of ajudpnent enforcin8 this Security, Instrument. Tbose contlitions are that Dotrl,wcr;
<br />(a) PIIY' Lender all sums which Ihen would be due under this Security lnslrumenl and the Nole had no acceleration
<br />oCcurred; (b) cures any deJ'allll or ,any other covenants or aareements; (c) pays aU expensl$ incurred in enforcing this
<br />ku,;t)' In..rument, irn:ludina, but not limited 10, reasonable attorneys' fees; Dnd (d) takes such Dction as Lender may
<br />raaonabl)' require Ie) UllUre thai thlllien of thil kurity IllItrument, Lender's righls in Ihe Properly Dnd norrower's
<br />oblip.ion 10 pay the sums *ured by lhls Security [n5trumenlshlll comlnu", unchanged, Ur<lII reinsllllemenl by
<br />Borrower, Ihi.! Security Inllrumeal and lhe obIlaationl _ured hereby shall remain Fully dfC'Clive as ifno Deceleration had
<br />occurred, nowe.er, Ihis ri&hlto rrinlta.e lhaU not apply in IRe case of acceleration under l'uragflll'hs 1 J or 17
<br />
<br />.. t ~ '
<br />
|