|
86- 102577
<br />If Lender required mortgage: Insurance as it condition of making the loan•, wcured by this Securntc Instrument.
<br />Borrower shall pay the premiums required to maintain the insurance n1 effect until such time as the requirement for the
<br />insurance terrninales Ili accordance with Borrower's and Lenders 3s'rn ten 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, direct or consequential, in connection wnh
<br />any condemnation or other taking of any part of the Property, or for conveyance In lieu of condemnation, are hereby
<br />assigned and .hall be paid to Lender,
<br />in the event of a total taking of the Property, the prticee,i, ,hall be applied to the sums secured by this Security
<br />Instrument. whether or not their due, with any excess paid to Borrower. L1 the event ,! a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sunis secured by this, Securny 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, dnlidcd h; (h) the fair market value of the Property unmediatch before tire taking. Any balance Nhall 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 io Lender within 30 days a fler the (late the notice Is
<br />given. Lender is authorized to collect and apply the procceeds, at It,, option. either to re >toratton or repair of the Property or
<br />to the sums secured by this Security Instnimeol, 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 />p(ntp)ne the due date of the monthly payments referred tom paragraphs I and 2 nr change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By lender Not a Waiver. Extension of I: :c 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 liandiry of the anginal Borrower or Borrower', successors nn interest.
<br />Lender shall not he required to commence: prelcecdings against any successor in Interest or refuse to extend time for
<br />payment or otherwise modify amonization of the Burns secured by this Security Insirument by reason of any demand made
<br />by the original Borrower or Borrower's successors In interest. Any forbearance fly Linder nt exercl,nlg any right or remedy
<br />shall riot belt waiver of or preclude the exercise of any nght or remedy
<br />iL. Successors and Assigns Bound; Joint and Several Liability: Co-signers. Tie coNenants and agreements of
<br />this Security Instrument shall hind and benefit the successors acid assign+ of Lender and Borrower, suhiect to the pre%ision
<br />ofparagratph 17 Borrower's cmenams and agreements shall hejoml and se eral Anv Borrower (%'ho co-signs fill,, Securny
<br />Instrument but does riot execute the Note !s,1 Is co- signing this Securny Insirument ;,ilh to mortgage. ,rant and
<br />that Borrow g-'s interest Ili the Property under rile icrms of this Scum Insirument• (h) Is not personally obligated lo pay
<br />the sums secured by this Securny Instrument: and (c) agrees that Lender and any other Hoin,uer rney agree u> cxten(i.
<br />modify. forbear or make any accomnlodanons wnh regard to the terms of this Strs-untc In,lrtiment t,r the Note urhout
<br />that Borrower'sconscw
<br />12. Loan Charges. It the Ioan xcured by this Securny Iltstrunnent I, subject to a'.rs A lmh wi, nnaxrmnnn ;ran
<br />charges, and that law is firialiv interpreted Nil that the niteresi or other loan the :r_e, coflet[cd -,s to he Collected 1!1
<br />connection with the loan exceed the permitted limns. then OF any such loan charge shall he reduced hs Ole :rnount
<br />necessary to reduce the charge to the permitted limn: and ih) tnx sums :drea(dy collected IIotli Borrower who it xt ceded
<br />. f
<br />permitted limits will he refunded to Borrower Lender ntat choose in make Phi, tchind by rcducmg the prrrluPt! oul-d
<br />under the Note or by making a di riser payment to Borrower If a refund reduces principal, the reduction I% III he Irenell as a
<br />P artial prepayment without any prcpasnient charge Under the Vote.
<br />'
<br />13. Legislation Affecting Lender's Rights. If enactment or cxprnttlon of apphCahle law, has tine effect of
<br />rendering any prove oon of the Note or this Stcunty [nurument uncnforceahlr ect. iriulg nI n, ?con,. 1 linter. ,r us option.
<br />may require Immediate payment rn full of all Burns secured by tilts Security Instrument and may nnoke any remedies
<br />permitted by paragraph 19 If Lctuder exercises this option. Lender shall take tare steps specified Ili the second paragraph of
<br />paragraph I'.
<br />14. Notices. Any ❑nucc w iiorrcnwer provided for m this Se tint} Irnstrunncn[ shall he gncn by deh(cnng 11 or by
<br />malting it by first class mad unless applicable law require+ use of another method. I he nonce shall he directed u, the
<br />Prapertp Address or :tiny outer a(idress Borrower designates h} aou:c ui Lender.:\ny notice to L rider shall he given by
<br />first class marl to Lender's address stated herein or any other address Lauder dcstgrlatrs by notice to Bornmei Any non :c
<br />provided for in this Securny Instrument shall be deemed to have been gncn to Bor mien or Lender when gn en is provided
<br />In this paragraph.
<br />15. Governing Law. Severability. Thu Security Ils,lrumenl shall tic p, %creed by federal law .lid :tic lam of the
<br />jurisdiction tit which the Property is I(K1ted. In the c%eni that any pro%iNion or claUSt Ill till, SCCUMN lnstruin Cnl tit the
<br />'
<br />Nole conlict% wllh aplllt:ahlC ;aw, NUtn 0111fliLt ,hall not :elect other pro%ision, of [his Sccurlty Instrunicrit or the Note
<br />which eau be green effect wrlhout the conflicting pro, iron To this end the pro.rsion, or tin. Se;'unty Instrument and the
<br />Note are declared to tie set crable
<br />lb. Borrower's Copy- BorTo%; :i shall begocn inc :nnforrrred:opyofihe - te.in(!A OFF, Serurill Instillment
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If .nil ,;r ant pert of the Pioperty os any
<br />interest m it is sold or transferred (or if a beneficial nnerest tit Borr'nw• "•r Is sold or trarl,tct wd and Horruwcr 1, 11,11 a n:uurai
<br />person} without Lender's prior written consent. Lender may. al Its option, require rinnledlslC paynu•nl In full ill All sunns
<br />secured by this Security instrument liow'erocr. this option ";:all rn,r be rtcrclscd hs Lender if rxerusc 1' pr.,lUbrtcd by
<br />federal law a%of llredateof this k:untt Instrument.
<br />If Ixnder exercises this option, Lender shall gnc Borrower n.+ure of acceleration 1 tic none 'fill! pit+, Idc ,: perit,d
<br />-If ,not less titan 30 day s ti "m rile date the nonce is delneled or masted wlthill a )tit h Bartow ci nrrrst !,;,y all ,um, scour cd by
<br />this Security Instrument if Borrower fads to pay these stuns prior la the rN fvrauon of this period, t cndci 111,\ :u. rule tiny
<br />remedies ptamriteel by this Security Instrumrnt without liuther noutc or demand on Boitowei
<br />18. Borrower's Right to Reinstate;. if Borrower meets ccrtatn (ondrnon,, Bornmcr shall hale :hc rntht to hale
<br />enfi rcctnent of tilts S<.cunly instr ment do'-ontinued al :nn tittle prior to she earh rr t,1 (,I ) � ,.is,, s lo; ",." h .,thee i'vil. "i
<br />Lappr.ai,le
<br />ti_
<br />law ma} s {ctrl} for v toner i4nt t hilt rc si .d rho 1'rnpcits pur,u tot t,l an, { tins .;i is -� !11,111-d in th;,
<br />Blount} EnstrunrcnL it oki) erli e . l f x !udgrnent enh rt ..y; !his Sr,utHy lnstrumcni i Ill ,n&i,ons .ill 01.il h,•rrt wt r
<br />wi pati, Lcnd(:r :all 4uwl, wm:ti theft would !h' rut undel IIU" 1(`:ul -11N- In'trimicil( '1110 ill, `tilt' 11.1,4 • '.li lc gel
<br />,
<br />ex C111 r'll, lb) arcs :111, 10"U11 tit tl% uiher tole I'uu 'l .tgrrrmenr" 1,) rai ul csl. ;n,rs nn our t ill
<br />'`c tt ty In r,flvwnt ol,llldtrist . hug nut iun:tcd :,. ,ra"'n"t,tr . ;rs ;xnc, ice•,. t I 1 i,!t '.11," w,'• .i, -l._• ,, I t.,. =n -I;,:,
<br />rR'u.: . +na Poi, yle :rr i, assure ;hm h,, licit -l! !hl, chi, .. ,h, Pt.;r': r•, .ul,t li.,t; • c'I -
<br />Et114�,'. ..� ••�•. •. i't. ,il ..iN +t�l1,�Yd 1'i itb1, se'urll-, ln,tlwllcnn h.fll
<br />hilt Oil: ,Y,i :t' ;tl ..,, . :. ;: t1 'i ;' {.•t,.,
<br />�, Ci• , yhi . �. t ,n. ;-I
<br />
|