|
36- 14216t3
<br />t
<br />If Lender required mortgage insurance as a condition of making the loan secured by 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 terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />S. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, director consequential, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />in the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />instrument, whether or not then due, with any excess paid to 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 he 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 Immediately before the taking. Any 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 offers to
<br />make an award or 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 then due.
<br />Unless Lender and Borrower 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 b and 2 or change the amount of such payments.
<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
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not he required to commence proceedings against any Successor in interest or refuse tc extend time for
<br />payment or otherwise 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.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to 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 does 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 riot personally obligated to pay
<br />the sums 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 />12. Loan Charges. If the loan secured by this Security' Instrument is subject to it 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 be reduced by the amount
<br />necessary' to reduce the charge to the permitted limit; and (b) any sums already collected from Bornmer 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. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security instrument unenforceable according to its terms. Lender. at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security instrument shall he given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. -The nonce shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Am notice to Lender shall he given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Burrower. Any notice
<br />provided for in this Security Instrument shall be deemed to hase been given to Borro "tzr or Lender when green as provided
<br />in this paragraph.
<br />15. Governing taw; Severability. This Securny instrument shall he eoverned by federal law and the 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
<br />Note conflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the precisions of this Security Instrument and the
<br />Note are declared to be sever able.
<br />16. Borrower's Copy. Borrower shall be given one conformed cope of the Noic and of tilt Security Instrument.
<br />17, Transfer of the Property or a Beneficiai interest in Borrower. If all or any part of file Property or ;my
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nor a natural
<br />person) without lender's prior written consent. Lender may• at its option, require immediate payment in full rib all sums
<br />secured by this Securiry Instrument. However, this option shall nut be exercised hy. Lender it' exercise is prohihiied h}
<br />federal law ds of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall gwe Horrower notice of acceleration- Lie notice ,)tall pn.vute Li period
<br />of riot less than s0 days from the date the notice is dcli,crcd or mailed w chin which Burrower trust pay all sunis,i-curctj by
<br />this Security instrument. If Borrower fails to pay there sums prior to the expiratior o f f his period. Lender may nooke any
<br />reredies permitted by this Security Instrument without further notice or deniand tin Hot rower
<br />18. Borrower's Right to Reinstate. If Horrower meets certain conditions, Hor tower Oi ul hate the ri }tht to hate
<br />entorccment of this Security [nstrurnent discontinued at any tinierprior io the earlier n1 (it) s days ((if .urh othei peened :ts
<br />applicable law )nay ,pecify for renistaterncw i bel b t re sale of the rn)perfs puf scan' ho at y power it 'ale .ont.uned tit tin
<br />L
<br />Security !nstrurnent or III) fit, if a )udp;mcnt enter in); tin Securtt`, lnstrunit n! l h, sr .nndlu1,u1 ,oe 11141 Harr! :urr
<br />'
<br />(a) pays i.endcr ail sums "11101 Oren would he lue r1 dt:r this Insrnlnlcnt ;uut flic Note had m u eh rtuor�
<br />t,ccurred. fhi _uses tiny dcfault :it anv other co%cminis nr upreemenis. !ct pnl, all ! rlu One, ifl,Mf •d Iri :nG+rrmp 01n
<br />Securtc fnstrumew. in :luthfw_ but nit; hinted fn. rra.en.aac mZ,,rncv" ire, anti r,ih hake, ,url: acrnnn .is t t.ntit-; ! =!at
<br />SAS
<br />n ^a, + :14h1} rt %4u1fr :" :tvunr that the ii. t: tit tins SeOUnr. hr +ttwnrnt. Lend.. Th.. I'rnf,e•nt .mtt 14lrr—r!'�
<br />u^
<br />"
<br />s,.
<br />;t 3t tf; •n
<br />A• �.� t'a= It,_ `.l :l!1� 1�i !treat ht ihf\ �•'e :r!11� 1,1- 'i?I!(I�'1( ,11 : :11( �'fll� ;Olt' �.�I.�fl�{L'.: � -{ t t`�'�l fi lll�h.fl�lil!'!tt
<br />Bw! "",r1 .:!i.'�e.- i1n. 1 .!t:.;ntrr' .inn; ti.'. r�I!4' :1u,.• ,,,t.. t ;.01 he!,•! . ,ii 1� Tw !n hull. !10 i„ �,.
<br />....� . 1t "`^' . - '' •g,) =; t ttr;•,t,tt .,, i. , ,, ., . nip ..,.. t., •I.- ,� ...:l. ..u... :�
<br />
|