|
<br />, RE.RECOROED 8R- . i (\ " :; '::l? 88- 1044.49
<br />9. Condemnation. 1 he prOC'cl..-ds 01 any awa:rJ or cla1m..a\ft~~~ tNrect or consequential. In connectIOn with
<br />any cl'lndcmnallon or olher taking of any parI of the Property. or for conveyance in lieu of condemnation, arc hereby
<br />assign<d and ,hall be paid 10 l<nder.
<br />In Ih< <vent of a IOlal taking of Ih< Property. th< proceeds shall b< applied 10 th< sums secured by this Seeurily
<br />Instrument. whether or not then due. with any excess paid-ta-Borrower. In the event of a partial taking of the Property,
<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: (al the total amount of the sums secured immediately
<br />before Ih< taking, divided by (b) the fair mark<t value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandnned by Borrower, or if. after notice by lender 10 Borrower that the condemnor olfers to
<br />make an award or settle a claim for damages, Borrower fails to respond to lender within 30 days after the date the nOlice is
<br />given. Lender is authorized [0 collect and apply the proceeds, at its option. either to restoration or repair of the Property or
<br />10 the sums secured by this Security Instrument. \l,.hether or nollhen due.
<br />Unless Lender and Borrower orherwise agree in writing, any application of proceeds to principal shall nol exlend or
<br />postpone the due date of the monthly payments referred 10 in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Nol a Waiver. Extension of the time for paymenl or
<br />modification of amortization of the sums secured by this Security Instrument granted. by lender to any successor in
<br />inlcrest of Borrower shall not operale 10 release Ihe liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required 10 commence proceedings against any successor in interest or refuse 10 eXlend time for
<br />paymenl or otherwise modify amortlznUon nflhe ~ums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's succes,.'mrs in interest. Any forbearance by Lender in exercising any right \..ir remedy
<br />shall nnt be a waiver of or preclud< the ex<rclSe of any right or remedy.
<br />11. Successors and AssillJls Bound: Joinl and Several Lilbllily: Co-sillJlers. The covenants and agreements of
<br />Ihis Securit)' Instrument shall bind and benefit the successors nnd assigns of Lender and Borrower. subject ~o the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be Jomt and several. Any Borrower who co-signs this Security
<br />InSlrUmCnI but does not execute the NOIe: (a) IS cO-"'lgning this Sccunty Instrumcnl11nly to mortgage. grant and convey
<br />thaI Borrower', inleresl 10 the Propert). under IIle lemlS of thIS Security Inslrum<nt; (bl" nol personally obligaled 10 pay
<br />the sums -..ccured by this Securiry In\trum.:nt. and 1L"l agrees thllt Lender and any olher Bnrrower may agree to extend.
<br />modif)', forbear or make any IJcCOmmodalHln~ wllh fegard to the terms of thiS Secunty (nsuumenl or the NOIt' without
<br />that Borrower'.. consent
<br />12. Loan Chal1les. If the loan ..a.:urcd by Ihl\ Seeunl) In...lrument I!l. "'UbJcctlo a lolw which "el!l maximum loan
<br />charge\. and Ihat law IS finally Interpreted so thai the mle'L.,.1 or olher loan charg'" collected or 10 be collected in
<br />connecllon with the loan exceed Ihe penmlted hmll', Ihen. (a) any ,uch loan charge ,hall be reduced b) the amount
<br />ncc~..ary (u reduce the charge 10 whe JlCrmmed IIml1. and (h) any 'tum... alrendy collected rrnm norrower whu:h exceeded
<br />pcrmtlted hmlls will be refunded 10 Bormwer Lender ms\, choose to make thIS refund b) rc:ducmg the pnnclpal owed
<br />under the Nllle or by makmg 11 direcl pu)'ment 10 Dorrowcr Ir n refund reduces pnnclpal. the reducllun will be Ireated os n
<br />purllal prcfla)'m~nt ""'llhoUI any prepnymenl charge under rhe Note
<br />lJ. Lelllsllllon A<<ecllnll I..,ndor's Rlllhts. If enactmenl or explratlnn nf apphcable law, ha\ Ihe elfecl of
<br />rendering any pro"'''lun uf the Nule Of Ih" Secunl)' InMrumenl unenforceable accordll1f:t to 11\ (enn!t. tender. allls opuon.
<br />mu)' requITe Immr:dlalC pil)l11er\l Ifl full of all ..urn, "oCCured by thl' Seeunt)' In'lrumenl and mD)' 1O\'okc any remedies
<br />pemtlllc:d h) paragraph I Q If Lend<, e.e,c"... IhlS nptmn, under .halllake th< .t<p, .pectfied 10 tho ,",cond pa'agraph of
<br />parllgraph 17
<br />14. Nollces, An) nnll..:c to Uorrower prOVided for In Ihl!l SecunlY Inslrument ,hall he gl\-en by tJeh\'enng II or hy
<br />mallmg II b) finol cI." mall unl"" i1pphcable In.... requires u'"" nf anolher m<lhod. The nntlce .hall be dlrecled 10 Ihe
<br />PruJlCr1)' Addre" or un)' olher nddrC'l\ Borrower dC!ilgnalC'S b)' oolu.:c 10 Lender. Any nullce 10 Lender ..hall he given b)'
<br />firM chl!ll.' maillu Lender', addu!\, \la1ai herelllllr any other addrn\ Lender dC5lgnnl~ by nollce to IInrrnwer Any noUce
<br />flrO\'ldcd for 111 thl" SC'cUfll)' In\trurncnl ..hull be dC'cllu"d (0 hu\c \leen gl\'cn to Borro\\'er ur tender when gl\'cn a\, pruvlded
<br />In thIS paragraph
<br />1.5. Goyernlnlll.a..; s.,..rlbIlUy. nm SccuTlI) In,trumenl .hall be gnyentc:d h) fed<rallaw and lhe la.... nf Ihe
<br />junsdlC'lIon 10 whu:h Ihe PropcTl) I" located In the e\'entlhul an)' pro\ll!rolUll Of clau'lIt: of 1111\ Sccunt)' In!rotrumcnl or the
<br />Note connu.:t!t with apphcahlc I:av... ..uch ..:onfllcl ..hall not affect other prO\fI!'lo10n' of Ihl.. SCCUflt)' In...rumcnt Uf 1he Note
<br />which can be given etrcel wllhoulthr confllclIng prn"'Ilj,llln TOlhllj, end Ihe prO\lI"lClI1~ nflh" SecuTlI)"ln\lrUmen1 and the
<br />Note are declared 10 he ~\crublc
<br />16. Borrowu"s Copy. UnrrnwC'r ..hall he: glH'n olle ~:onformed copy uflhe Nolc.' and oflhl' SeCtlTlt)' In~lnlrnelU
<br />17. Tranrder or Ihe IJroperlY or I Benefici.llftlere'l in Borrower, If all or an) part of the ItU1JlCfl)' or !lny
<br />antcresl 11111 I!'. ,old or 1ral1!tferrC'd (or If a hencficlalll1lere\t an Borruwer 1\ \old or tran..ferrcd and Unrru.....er 1\ 1101 a nalural
<br />perr"onl v.,.'lIhotltl.c:nder'" prlnr \HlUeTl con-.c:nl, Lcnder may, alII!!. npllnn. re'lUlrc ImmCdli.llc pa)'mcn1 an full of nll\um..
<br />..ecun:d b) thl" Sc\:UTlt) In\lrUmel11 IiO\\C'H"r, 1111" oplHHl ..halJ nol he e\C'rcl"lcd h) Lendcr If C'~crC1\C I" proluhltcd h)
<br />fcderalla\\ a.. oflhe dale nfthl!!. SecUrl1\ In'!'ltrumc:nl
<br />If Lender e"ercl...t,.... tim, opllOn. i~ellder ..hall gl\'C BllrrO\\er nOlIl.:e of uccclerallon The 1l01h:e "hall rro\olde a JlC'T1od
<br />L)fnolle"'~ than 3D dD)" from the dalc IhC' noll\;(' I" deh...ered ur mailed wuhan \\'hlch Bnrrower mu,' pa) illl ,urn'" ,cl.:urcd hl
<br />thl\ Sct,.'unt> InMrumenl. IflJnrrClwer fUII~ In pay thc\t ..um\ pnor to the c:\p1Tal1ulI oftlll'~ pcruxl, Lender ilia) IlI\llkc aJl]i
<br />reml:dic:~ permlt1cd b} thiS SecUTlt)' In~lrumC:nI Wllhoul further nuUcc Of demand on Borrower
<br />18. Borrower's Right 10 Rejnslate. If Dorrower mec:h cer1alll (,,'ondIlUm\. Burro.....er ...hall hUH' the nght lu ha\ic
<br />enforcementllflhis. Securily In!l.trumelll dl\CUnllnued a1 an)' lime pnUf 10 the earher of fat 5 day.. (IIr "Udl olher peflod a,\
<br />applicable law ma>' specify for rell1,lulcmenl) before \Ale of the I'roperty pUf'Uanl III iJny powcr l)f ..all." conlulued an thl"
<br />Sccurlly Instrumenl; or (b) cntr) of 01 Judgmell1 cnfon:ing Ihls SecuTlty In'trumenr. Thn..c: c:nndl(Um... arc 1hal Bnrruwcr
<br />(a) pa)'lj, lender all \ums which thcn \\lluld be duc under Ihi\, Security In!ltrumcnl and the Nole hmj no al,:c:dcrallon
<br />occurred; fb) cur~ an)' default of UIl} uth..."r cO\lenan1.. or agrecmeOl~; (c) rap. all cxpcn,,"c... Incurred III C'flfor~lfIg 11m.
<br />Security Instrument, includ1l1g, bul lUll limited 10, rea!tonable ullumcy" fee!); and fd) ,ake... ...uch ac1ItHl 3'1 l.ender ma)
<br />rea~onably require In 8!!....urc that the hen of till!'\. Securit)' Instrument, lender's nghh In Ihe Properl)' und Rorrower'..
<br />obligalion 10 pa)' the \um", r"ccurcd by lhi!!. Securi1}' Instrument ,hall continue unchanged lJpun remslalemrn1 hy
<br />Borruwer. Ihi~ Secunl) [nS1rument and Ihe obllgallOn!!. ~cured hereby \hall remain full)" etreclJ\ie a~ If no acceleration had
<br />occurred. Ho\\'c\'er. lhls right to rein!itate !ihall nOI apply m Ihe ca!'lC' of accelera1ion under paragruph\ 13 or 17
<br />NON,UNtFORM CoVENANTS. Borrower and lender further covenant and agree as follows:
<br />19. AcceIeratlon; Remedlea. Lender sball gin notice to Borrower prior 10 aceelerltlon followlnll Dorrower's
<br />breacb of any connanl or qreeOlenlln tbll Security Instrument (but nol prior to aceeleraUon under parallTaphs 13 and 17
<br />val_ applicable law prooldea otbenrllel. The nollee shall opeetty: (al Ibe default; (b) the action required 10 cure Ihe
<br />det.ult; (c). date, noll_lhln JO days from the date Ihe nollce Is IllYen In Borrower, hy which Ihe detaull musll'<' cured;
<br />and (d) Ihll fllllure 10 cure the default on or betore the dale opecillc:d In Ibe nollee may resullln a<eeleraUon Ilf Ihe sums
<br />aeeured by tbJa Security InslruOleol and sale of the Properly. Tbe nollee sball turlher Intorm Borrower of the rlghl 10
<br />relnatale after ICeelerltion and the rlpl to brlnll a court action to assert Ihe non.exislenee or a defaull or an)' olher
<br />detense of 8oRower to IICceleradon and we. If thr deFault 11 not cured on or before the date :spcdHcd in the notice. l.endcr
<br />It I\JI option may require Immedlale payment In rull of all oums ICcured by Ihis Serurlt)" Instrumelll wlthllul rurther
<br />demand and may Inooke Ihe power or sale and Iny other remedies permitted by applicahle law. I..,nder .hall be ealitled 10
<br />collect all eapellHll Incurred in punulny lhe remedIes proYldc:d In this plrlgraph 19, Including. bUI nol Iimiled to.
<br />reuonable att........YI' r_ and COi\JI or title eoldenee,
<br />
|