|
a
<br />87_ 100550
<br />If Lender required mortgage insurance as a con- dition of making the loan secured by this Sea:rity In-
<br />strument, Burrower shall pay the premiums required to maintain the insurance in effect until such time as a requirement for
<br />the insurance terminates in accordance with Borrower's and lender's urinen agreement or applicable law
<br />A. Inspection. Lender or its agent may make reasonableentric, upon and inspecrions of the Property. Lender shill
<br />give Burrower notice at the time of or prior to an inspection spetitying reasonable tause for the inSpection.
<br />9. Condemnation. The proceeds of any award or claim fur damages, direct ur antsequennal, m. connection with any
<br />condemnat ion or other raking of any part of the Property, or for convcy:uuc in lieu of condemnation..are iureby assigned and
<br />shall be paid to lender.
<br />In the event of a rotal raking of the Property, the• proceeds shall be applied m the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Burrower. Ili they cye•rnr of a partiai taking of the Property, unless
<br />Burrower and Lenderutherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the• amount
<br />of the proceeds multiplied by the following fraction: +:u du rotai amount of the sums secured immediately before taking,
<br />divided by (b) the fair market value of rile Property immediately before die taking. Any balance shall be paid to Borrower.
<br />If the Property is abandoned by Borrower,or if, after notitelly Lender to Burrower that thecondenmoroffers to make
<br />an award or settle a claim for damages, Burrower fails to respond ur Lender wirhin ill dugs after the date the notice is given,
<br />Lender is authorized to cuilecr and apply the proceeds, at its option, either to restoration or repair of the Property or a, rile
<br />sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Burrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 .end "or change the amount of such paymems.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of
<br />Burrower shall not operate to release the liability of the original Burrower or Borrowers SUCCCSSOr5 in interest. Lender shall
<br />not be required to commence proceedings against any successor in intent or refuse to extend time for payment or otherwise
<br />modify amortization of the sums secured by this Security Instrument by reason of any demand made by the Original Borrower
<br />or Borrowers successors in interest. Any forbearance by Lender in exercising any right or remedy shall nor be• a waiter Of or
<br />preclude the exercise Of any right ur remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreemmems of this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Burrower, subject to the pruyisions of
<br />paragraph 1'. Borrower's covenants and agreements shall be joinr and several. Any Burrower will) co -signs this Securill
<br />Instrument but does not execute the Note- 13 o is co- signing this Security Instrument only to mortgage, grant Lend convey that
<br />Borrower's interest in the Property under the terms of this Security Instrument: Ib', is nor personally obligated to pay the
<br />sums secured by this Security Instrument; and ic) agrees that Lender and any other Burrower may agree it) extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Security Instrument ,.r the Note tvithuuc that
<br />Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subjecr to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or n, be collected in connecrion
<br />with the loan exceed the permitted limits, then: (a) any such loan charge shall he reduced by the amount necessary ill reduce
<br />the charge to the permitted limit, and t hi any sums already collected from Burrower which exceeded permitted limits will be
<br />refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a
<br />direct payment m Burrower. If a refund reduces principal, the reduction will he treated as a partial prepayment without soy
<br />prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering
<br />any provision of the Noteor this Security Instrument unenforceable atcurding W its terms. Lender, at irs option, may require
<br />immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by
<br />paragraph 19. If Lender exercises this option, lender shall take the steps specitied in the second paragraph Let paragraph t'.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another nuthod. The notice shall be directed ro the Pn,perty
<br />Address or any other address Borrower designates by notice n, Lender- Any notice U) Lender shall begiven by first class mail
<br />ill Lenders address stated hereon or any other address Lender designates by notice to Burrower. Any notice provided till in
<br />this Security Instrument shall be de•enaed no have been given to Borrower or Lender when given as provided in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall he governed by federal law and rile law of the
<br />jurisdiction in which the Property is located. In the event that any provision or Clause of this Security Instrument or the Note
<br />conflicts with applicable law, such conflict shall nor affect other provisions of this Security Instrument ur tile Note .t hick tan
<br />be given effect without the conflicting provision Tu this end the• pruyisions of this Security instrument and tilt- Note art
<br />declared to he severable.
<br />16. Borrower's Copy. Borrower shall he given one conformed tops of the Note and ill this Seuarm Instrument,
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. It Al or any part of the Property or any
<br />interest in it is sold or transferred :or if a beneficial rmere•st in Burrower Is sold ur transfe•rrCd and Borrower is not a n• rural
<br />person) without Lender's prior written consent. Lender may, ar its option, requre imrnedaate payment in full of all sums
<br />secured by this Security Instrument. However, this upuun shall not he exercised by Lcndrr If exrn Lee• is prohibited by frdrral
<br />law as of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrower not ice ofatcclel,loun Thenutiteshallprovide.Ipciud..f
<br />nor less than i0days from thedate the notice is deli%ered or mailed within whnh Borruwrr must pay ail suns secured by this
<br />Security Instrument, If Borrower fails toe pay these• SUMS prior to tile exprataon of tilt, per!od, Yoder may unokc any
<br />remedies permitted by this Security lnscrumenr without further notice• r demand nt Botnncer
<br />L 18. Borrower's Right to Reinstate. If Burrower trues terrain a trtltr! n liorn,w r h.,%e rile right u, ha%c
<br />cnfurcemem of this Security In]trUnrenl diSeonun•ucd at any % nmc poor u, tilt t.onccr of I hay, : or ,oeit usher period ,1.
<br />applicable• Law stay specify fur rcnutatcrnrnt before sale of the 1'l) pcny I ur u.or1 r any 1 .ye t ,ale t nn,onc l n this Se
<br />aunty lostrunivrit :,r (b; entry of .t unfgtneat entorcing till, Itturit ,n ..U.ilcn!
<br />'I'll' �,c t-nd!tn» .Ira char B, rrtx%cr
<br />pay. I.So let .alt sums w tilt h ,hen kit .,uld bcduc• unite r thI Set -unt las!ruIn, n r I I•nl Iu N ur h r' o . .t 1;( A nto u - r :, .l +
<br />tut. onydcfaultOf -!ny rthcru ncenann tit :grtenunr ;t!pIt !e %lttilt u. ,!.
<br />MotludMta;, hull not Ltotitc" n!, tea >onanlr .trtnr lit y, fcc,. dod ,I !. , 1 1 h
<br />writ thna the Itch of thn :t hl'OI lnent_ I.Iildl :,;in, t 1'1 n,.!•, .! ,t.•� :, :,,, „
<br />,t_ ,re.l ?,t tl „ ` +e� cn �n I!:,n gut :rnr ,loci u:nttu,u •.:It h Lehr l L•,!! < _., ,..... .. , c ! ... i.t ...
<br />Iu ,Chi nn,. it-., •.t -u ho ..il !t nla u! t,,IL rtl! :'.tt .,. it . -- .. I ._,. _ ..
<br />i
<br />,... 11i
<br />pop
<br />I
<br />
|