|
r
<br />87- 102934
<br />If lender r i rt ag > it ticc as a co" ItitIn of making bile loan seturrd by this Security In E strumrnt, Borrowers gs tsit'' maintain the insurance ineffra until such time as a requirement fur
<br />the insurance terminates m actor ante s and Lender's written agreement tar applicable law.
<br />8. Inspection. Lrnticr tar its agent may rnakr reasonable entries upfm and I ns pectiofis of file• le law. y. Linder shall
<br />give &rrrower nutiu at the tune of (r prior n) an inspection specifying reasonable cause fur the inspection.
<br />9. Condemnation. The proceeds of any award tar claim for damages, direct tar consequential, in amriraion with any
<br />a)tidrmnatiun or ocher raking of any part of the Proprrty,ur for c'unveyantc in lieu of (If connatiun..ire hereby assigned and
<br />shall be paid to lender.
<br />In the event of a total raking of tire Property, the proceeds shall be applied to the stains secured by this Security
<br />Instrument, whether or riot thendue, with aay excess paid ill Burrower. In theevent of a partial taking of the Property, unless,
<br />Horruwe•r anti Lrnde•r uthcrwise agree iti writing, the• sums secured by this Se•4.Unry Instrument shall le reduced by the amount
<br />of the prtneeds multiplied b the following fraction: tai the total amount of the sums secured immediately before taking,
<br />divided by tbt the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower.
<br />If the Property t% abandoned by Borrower. or if, after notice by Lender to Borrower that the• condemnor offers to nuke
<br />in award or settle a Haim fur d;nnagcs, 110rruwe•r fails n) respond ao Lender within i0days after the date the notice is given.
<br />Lender is authorized to tilleet and apply the prou•eds, at its option, either to restoration tar repair cif rile Property or to the
<br />sums secured by this Security Instrurnefm, whether or not then due
<br />Unless lender and Borrower urherwise agree in writing, any application tit proceeds ten principal shall not extend or
<br />pos"me the due date• u) flit in,nithly paynu-nts relerred fu tat paragraphs 1 acid 'tar change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By lender Not a Waiver. Fxrrnsion of the nnic for payment or
<br />modificationol amurnzitto of file %elms secured by th,sSeauiry Instrume•nf granted by Lender n, any successor in interest of
<br />Burrower shall tint operate w rrlcasr the liability of file original Borrower or Borrower's sutiesson ul nitrrrst Lender shall
<br />nut be rryuirrd to rumnic'ncrpro ctrduigs against -illy matessur in intert•st or re•tu.se to extend tine for papnlent tar urhrrwisr
<br />mortify amortization of the• wins secured the this Scot ity Instrument by reason of any demand made by the original Borrower
<br />tar Borrower % successors tai uuerest Any fortx•a caner by Lrnticr in cxrrrning any nghf nr rt rnedy shall nut be a waiver of or
<br />preclude (lie exercise tit any right tar rectedv
<br />11. Successors and Assigns Round; Joint anti Several Liability; Co- signers. The• covenants and agreements of this
<br />Se unify Instrument shall hour] and benefit the xuorssurs and assigns of I ,•rider and Borrower, subject to the provisions of
<br />paragraph I' Btorruwrr'% covenants and agre•t•itirnts shall to µnor and st• vral Any Burrower who cu- sign; tins Security
<br />Instrument but does floor execute he Note 1 J) ,s cis- signing rhos Security Instrument only to nwrtg igt•, grtrir and convey that
<br />Borrower % interest ul the Property under nce terms of this 'security Instrurne•nt, obi is not personally obligated to pay the
<br />sums secured by this Securuy Instrument, and u j agrees that Lender and any other Borr—er ilia) agree to extend, inodily,
<br />forbear or make any actummtitlaoons with regard u, the terms of this Srcairiry instrument or the Note without that
<br />Borrower's consent
<br />12. Loan Charges. It bite loan secured by rill% Security Instrument is subject ro :a law which sets maximum loan
<br />charges, and that lawn finally interpreted so r hat tilt tnterest tar other loan chargv%tollected or to bet olictued in connection
<br />with the loan exetred the pernutted Iunns, flier] a 1 ant such Iran charge shall he rrduccd by the ,unuunt necessary to reduce
<br />the charge to the i)rrrnitted Iona, and � bi ant Burns air "'J"" collc•cred from Burrower which co cceded perinitted limits will be
<br />refunded to Borrower Lender may t ho ose To rnakr• this refund by reduung the• prinupal owed under the Note or by making a
<br />direct payment to Borro%er If a refund rrdutr% principal, the redumon will be treated is a partial prepayment without any
<br />Prepagnienr charge under the Note
<br />13. legislation Affecting Lender's Rights. if cn;ecunc•m tar c•xgraoon of appbtahle laws has the effect of rendering
<br />any pron isiun of the Nore or this Sc•tunty instrument unenio ccibie atcurding to its turns, Lender, at ors option, may require
<br />immediate payment no full of ail sinus arulred by this Sv(uriti Instrument and may iii%okr any remedies permitted by
<br />Paragraph IT) If Lrndct exert ses this option, lender shall take file stcpN spetrhrd it, tilt second paragraph of paragraph 17
<br />I i. Notices. Any notice to Borrower provided for in this Security lnstrijulclu shall be glen by delivering it or by
<br />Milling of by first class mail unless applicable i.aw ttviuurs usc• of another methtnl "file notice siiill bechr •Lied to file Property'
<br />Address tar any other address Borrowe -r designates by norotr fu ].ender Any novice to Lender .hall be g)%tn by first class mail
<br />to bender S address stated herein tat any other address lender designates I)y mutt n, Borrower Any nolue: provided for in
<br />this Security Instrument shall bedremed u, have been given fo Borruweror Ixndrr when given as prov1dcd in this paragraph
<br />15. Governing Law; Severability. This Security Instrument shall be go%erne.] by federal law and the law of the
<br />lurisdution ern which the Property is lowated In the event that any pro% isi000rclause' of this Secuniv Instrun)rm or the Nutr
<br />conflicts with applicable law, still) cunflict shall not affect other provisions of thisSecurtry Irnfrumtvlt or ncv Note• wbrchcan
<br />be given ettect without the co nflicring prc,vision To rho end the pru%uinns of this Securty Instrument and the Note are
<br />declared to be severable
<br />Ib. Borrower's Copy. Burrower shall be given unr • •;nformed copy of the Non• and of This Security Instrument
<br />17. 'rrartsfer of the Property or a Beneficial Interest in Borrower. It all it any part iif The Property or uny
<br />interest in it is sold tar transferred (for it a i Cuthc:il interest ul Borrower ,% sold (or : ratlstcrfrd and Btrrovo c•r is riot a natural
<br />Perst)n{ without lender's prior written consent, Lcndt r may, at its option, require unmrdietr pa}incnt in full of all sums
<br />seauecl by this Security Instrument- However, this option shall rout fit exercised by Lender rf core one is pn,hibifrd by federal
<br />law is of the dare of thus Security Instrument
<br />If lender exercises this option, Lender shall give Borrower nor et tit Jctelefauon [ -he noote shall provide ;i penrtd it
<br />not less than i0days from the date the notice a delivered or mailed within which Borrower must pity all surnS scoured by this
<br />Sctut Instrument. If Borrower fails to Pay these sums prior no (lie cxpiranon o) tho ]mini, lender may invoke any
<br />irrnecixs permitted by tilts Setunty Instrulorm without further notice or drn)and tan Borrower
<br />113. Borrower's Right to Reinstate. If Burrower nieets eeriam cundanons, liurr —cr Shall have file right a, have
<br />enfortemorrlt rat rhos Security Instrument oisetiminued al any fume prior fu file car her nl ,a i % if.,).' no ,ath other pt'rirxl is
<br />applicable law may speedy for rranstarelnent j belote sale tat tilt P—lerty pursuant t i any Power of Sale ountamed in tills tie.
<br /><urity Iristfumrnl. of fbt entry it a iudxittenr enforcing this kxurrty in,urunlcnt l hose umdioons are char Burrower i.r
<br />p-ys lender all suns which often wnulil le due ""der this Strut Its Insuurm rat and the Norc had o, i eta rk�rannn of t;u : -rd, � h
<br />Curt% anydetaultofanyuttrcom mint-iragoe•rment .It' paysallrxp ensesumuredmcoft ,ttink; ylnsrrumeni,
<br />uttludmg, but trait lonued tu. reiiiImAbie' itioroul, feu,, and ,h takes such as r.,�n .is i cndrf m„ ir,npai.ohi) it'Imit
<br />tuwv char The hen o1 thie Sermoy ftisitunerir. I,mict s r;xhr ti nc, Pr.ticity ant linnuw rt , +hj:,t fI t,i pat the .u,:,,
<br />saactcd h-, this heurvty Inwtr,tntrm shall onnrn:ur unchanx4d 1 :1>an rcin,teirnxnt 1,) b,_,n.rr rile. ?riuiuh Instr...11,
<br />erixi ff,r „i:iigafatm so,mcif lot Irby '11.411 itmam telly fffrcli%t " pf rni.,ue ier.ir .i ii.,�1 •i,t H��Nrtri, ih„ ux7,r �,.
<br />rfuastatt shall oaf alaply to file to %c of accekr.ttton under r pa f ;its ., . •.�.
<br />1 �t.tl
<br />W
<br />
|