|
$9 - 100115
<br />If Lender required mortgage insurance as a condition of making the loan secured )n• this Security Instrument.
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance temminates in accordance with Borrower's and Lendees written agreement or applicable law.
<br />S. Imps dwt. Lewder or tts agent may make reasonable entries upon and inspections of the Property.. Lender
<br />shall give Borrower amice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9„ tCe. The proceeds of any award or claim for damages. direr or consequential., in connection with
<br />any .corddemaxtion or oslxr taking of any hart of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned.and shall be paid to Lender
<br />In the event af'a total taking of the Property. the proceeds ~hall be applied to the sums secwed by this Security
<br />Instrument, whether or not then .due, with any excess paid to Borrower. In the event of a partied taking of the Property,
<br />unlem Borrower and Lender Otherwise agree in writing, the sums secured by this Securty Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before 'the taking, divided by (b) the fair market value of the Property imr.,ediately before the taking. Amy balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, .after notice by Lender to Borrower that the condemnor Hirers to
<br />make an award at settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the :notice is
<br />given. Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property Or
<br />to The sums secured by this Security Instrument, whether or not the due.
<br />Unless Lender and Bfirrowe r otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />u
<br />postpone the dux date of the monthly payments referred i o in paragraphs 1 and ? ar change the amount of such payments.
<br />Ia. Not Re,)ewk* F©rbetultance By Leader Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the stuns secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of :he original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or othemwise.modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise,of any right or remedy. Tide covenants and agreements of
<br />11. Srceeaoars and Amagn Bound; Joist and Several Lin iiiy; Co- signers. r
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject t o the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall'be joint and several. Any Borrower -who co -signs this Security
<br />Instrument but dotes not execute the Note: (a) is co- signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the stuns secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />I can C6ut If'the loan secured by this Security Instrument is subject 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 to be collected in
<br />connection with the loan exceed the permitted limits, then (a) any such loan charge shall he reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal. the reduction will be treated as a
<br />partial prepayment without any, prepayment charge under the Note
<br />13. Legisiation Alleeting Lender's Rights. If enactment or expiration ++f' applicable laws has the effect of
<br />rendering any provision of the Note or this Security instrument unenforceable according u, ens terms. Lender. at its option.
<br />may require immedi=e payment to full of all sums secured by this Securii} InSIrt.'mer.i and may invoke arty remedies
<br />permitted by paragraph 114. If Lender exercises this option. Lender shall take tl+e steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided form this Security Instrument shall be Liven by delivering o err by
<br />mailing n by first class mail unless applicable iuw requires use +f ane,ther method i'hc ni +tice shall he directed to the
<br />Property Address or any other address Borrower designates by notice to Lender .Any nonce to Lender shall he given l+y
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice tt, Borrower. Any notice
<br />provided for in this Secumv instrument stall be deemed to have hcen liven t(+ Borrower or Lender when giverl as provided
<br />to this paragaph.
<br />15. Goveruinft Law; S-everabelrty. This Securny Instrument strati be Lcrverned nt federal law and the +aw of the
<br />_jurisdiction in which the Property is located. In the event that any pr. vision ru C -louse of th s Se'Cnr11.. Instrument ,r the
<br />Note conflicts with applicable law• such conflict shall not affect ether provtsicurS if this Security Insirumnn. Or the ante
<br />which can he given effecti without the conflicting provision. To this end the provisions of this Security Instrument and tilt.
<br />%oir are declared to he severable g, Bonvwer's Copy. Borrower shall he given nine c;mfnrmcd rnpy of the'rote and of this. Security Instrument
<br />17. Tr;uffw[er of the Property (or a Beneficial Interest in Borrower. If all ur any part of the: I't ,pc ty nr any
<br />trrterest in it is sold or transferred (ot if a beneficial interest rn Boirnwer is .old or transferred and Borrower IS nt "i a nat ural
<br />person without Lerider'sprtor written consent, lender may. at its option. requ rr ttttmedrate payment ri full of all ,ums
<br />secured by this Security instrument. 'However. this r,prion shall not he exr.•rct:,Cd h} Lender if exCrcisc ,s nn+hiMied by
<br />federal law as of the date of this Security Instrument
<br />If Lender exercises this option, Lender shall hive Borrower notte:e of acceleranon "I he ne +tier shall ; +x+ idea ,x•raiJ
<br />ofn(it imi, than 10days iron, he date the nonce is delivered : +r mailed within which Horr+,wer must pay all sums sc, ured l+y
<br />this Security Instrument. If Borrowct fails to pea these sums p nor t(. the cxtnrttUim ,( this peri+,d, (.ender rna+ nn nAe env
<br />terriedtes permitted by this Sex:urity Instrument without further notice or demand r+r+ H ++rri +wc r
<br />111. $urrower,'s Riot M Reinstate, if Horrowt:r meets certain condni,ns. R< +n ,we^ shall bast the r gilt t +!ia.c
<br />e }r,r .Cment c f thi Sevurity lnwu�ument oi%<orutnued at any ume pant to the I-ariie.r r,l (a) ` +Jags r, +r such other pt
<br />appltcable iii% Trim specda for reinstndcment i htlotr sale nl'the 3't+,perty pursuan !-111+
<br />an+ nttinted in ibis
<br />j sesunit histrumem; ot (h +entr, of ii iudgirivrit lwlilrm, Inttlonrn, Ili s( a hti ens wk hid 8 r Her
<br />(r (ap pllyN 1_.endr all Sums iticri wAould t+r Out: ulldvI +h s "MM 11% ins t i Hint and thi, "s i had 1_i +ti•,,r+
<br />xs_cirrrcl, if,i ,- ,fret. a. y cieljuuif (if ariy .,Ihe•r �,( +vrnunt,. nt +ii_rgene ^His �z ;,a+s ..i1
<br />ywcirtty Instr,�tnen . i toilet ut +t I meted !. as,,nl,
<br />r+ au -,t +iv I fses an ' aF u. a a .'. r f- diet ^,a.
<br />b rx
<br />ea a.nsahiv juir. Lsa ur•r that the: 1) n n It"I"'+c..uuv l,istrurn� . I,-ndrr ,hi nr ? ,t,rr, b *r,'••
<br />�,Ngg,a+r(,n as !lit u i i r +.,. th `7.:. r iii• ++ ;,r ii a .;n , <, i !i + i a�: ni r t hs
<br />.,.r .i.al, •.in iii, , a +• !, a�'
<br />kl t ,..1 l.:rn., an.; ,j,t- . +F,Ilr.ri I ti• IJ Y. .{ + • -
<br />f ;hall n,,r + ,i•:
<br />
|