|
86- 102810
<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 effr t 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 />8. Inspiection. 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 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 cum., secured by this Security
<br />In:,:rumem, whether or not then due, with any excess paid to Borrower. !n 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 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 raking, divided by (b) the fair market value of the Property immediately ti fore the taking. Any balance shall he
<br />paid to Borrower.
<br />If the Property is ahandoned 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 nonce is
<br />given. Lender is authorized to collect and apply the proceeds, at its opuon, either to restoration or repair of the Property or
<br />to the sums secured by this Sccunty 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 I 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 amorttzauon of the sums secured by this Security Instrument granied by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Bilrrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings agam%l any successor in Interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Sccunty Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forN.Wancc by Lender ill 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 Secuniv Instrument shall bind and benefit the successors and assigns of Lender anti 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 Securi ty
<br />Instrument but does riot execute the Vote. tai is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under (lie terms of tilts Security lnstrumcnt: fb) is not personally obligated to pay
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and any other 8<trrower oral agree to extend,
<br />modify, forbear or make any accommouuiions 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 w-cured 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 it other loan charges collecied or to he collected in
<br />connection with the loan exceed the permittLd limits, then. tat any such loall Char-
<br />ge shad be reduced by the auwmlt
<br />necessary to reduce the charge to file permitted limit. and (h) am wins dread% < ,llectcd from Borrower which exceeded
<br />permitted limits will he refunded to Borrower Lender may %Ilene to make this refund by reducing the principal owed
<br />;
<br />under the Note or by making a direct payment to Bilt rower. if a refund reduces principal, the reduction will he treated as a
<br />partial prepayment without arty prepatmcnl charge under the Vote
<br />13. Legislation Affecting Lender's Rights. if enactment ,r cxplralton of applicable laws has the effect of
<br />rendering any provision of the Note or this Securirn Instrument unenforceable acv „riling to its terms. i-ender, at its option,
<br />may require immediate payment in full of all sum, ,et'ured hl this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19 If Lender exercises this optir.n. Lender shall take the steps speioied in the second paragraph <,f
<br />paragraph 17
<br />14. Notices. Any notice to Borrower prmided for in this !ie urity I list iurneni shall be given by delncnng it or b%
<br />mailing it by first class mall unless applicable law requires use of another method, The notice shalt be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any of her address Lender designates h% notice to Borrower Any notice'
<br />provided for in this Security Instrument shall be deemed it, have been given to Borrower or lender w hen glen as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall he �n%cincd by federal law and the law of fate
<br />jurtsdlction in which the Property is located In the event that any provision or clause of this sesurny Instrument or the
<br />Note conflicts with applicable law, such vnfict shall not affect other proRmons of this Security Instrument t r the ti,lte
<br />which sin be given ell'ect without the conflicting provision to this end the pnwivons of ibis Security instrument and the
<br />Vote are declared to be severable
<br />16. Borrowers Copy. Borrower -,hail he >r%er, one ,informal ,.tip} ,.f Itic \, tic and of (111, Sept unit% Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Burrower. If all or ,lit} part of the Propc•r1y or .ln
<br />interest in a is sold or transferred (or if a bencticiai interest in Lorrower is sold or uait,lcred and Borrowci is not a natural
<br />person) without Leader's prior w mien consent. Lender may, at Its option. r.g!iur- mimctlnttc pay mein in full of all Burns
<br />secured by this Security ln,trurnenl. However, this option shall not lid: exelslsed by Lender tf cxcrc!se Is pnlinbned h%
<br />federal law as of the date of this Sccuroi Instrument
<br />If lender exercises tht%opi[oa, bender snail give Borrower notice of accelcranon f tic novice shall pto%nle a pknuJ
<br />of mot ieSS than 10daysfrona thedatethe notice is dehien!dor mailed withal w ii,h Borio%%cr nm,t pay ali,uni,,erurrd h%
<br />this Security Instrument. If Borrower fails to pay these Burns pn:r lit :he c.%p,ratwn :,t iii, pciloci. I cndrr nu% nnokc
<br />rcniedies permuted by this Security ❑istrumeni without further nouce or tieniand on Nn i r•%%cr
<br />18. Borrower's Right to Reinstate. If Iorrower rneets ceruitn umdttotls, B••rn•wcr ,halt ?::1%e the ;Kilt to hone
<br />enforcement of this Sccunty Insfrurcient disc rilinued at any !;rte prior fo the earlier ;,t Isla ` Jay, im such +abet pert„tl
<br />a'pph aWl: taw may spe Afy for retusflatcllwnl) tn:fore sale of the Propert% pun1.1,10i to .1 r,% n17wcr c,I std° ,,,atantca nl th!,
<br />,
<br />S+:cunty }n it urcm, or ;hI ct:tf% .t It judgment ,.nforcing !hi, Security Ins!rnnccnt I ho,e . `7sl;,Iron, +ire that tf, iruw,a
<br />ta} 11ffiyS leildfi 3:: ,Urns whii)1 ;net: ;Aould tit' +iiie trios ih:s swctlrl% In,t ell.ini ,lt .'f"l i, t1” ;+.% er.il l; •i•
<br />(cc1t carted, rh; t:itr C's arts d0altlt t J.o% '-,;her r—clialill t11 3grccT11C %. It t pi%, ell • ,I,cn c,
<br />S%'ti ii P}(Y dra"%`,rll7rlr:il, tna'1tB:.11n4, bti( :i +,1 ilrnitell zoo lea Si llat)lC itil!f2t'%`.� fef`,, .. -2i :: id;
<br />lien !.:1 thls tiei car -lf, Itr,trll..... i:i, l..t ,1., , ._t.,- ., 1.. }�..�. i .. .,....
<br />to vi1 ,c–cwcc` h', fill, 'Sc,unt% 111"runt"ni 01..I ..'I ,�.';•1. ..�lt. :'k ," i I. ,... .... .I...
<br />Iii ,r Nrf,! 't IN, t`, •eii±lmu... :ll,il .nt'•`Nlrlit ions <I- urea..- ♦T,ail l� :., ,,.,, �...t ...alt,,
<br />„
<br />�A. eiJr:—1 II AC.i t, ,: q _). roe i,i .. :n't :31a.` O kill•+. ti aptl %nx i tic _t ' . s,
<br />
|