|
86-- 103504
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Secunty 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 entnes upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofor prior to an insMtton 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 to 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 proceed, ,hall he applied no the bums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Bfrrower In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Secunty Instrument shall he reduced by
<br />the amount of the proceeds multiplied by the following fraction: la) the toufl amount of the sums secured immediately
<br />before the taking, divided h,, th) the fair market value of the Property Immediately before the taking. Any halance shall he
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by I ender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages. Borrower fails to respond to I.endcr within ',0 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 wnting, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to to paragraphs 1 and _' 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 n) any successor in
<br />interest of Borrower shall not operate to release the liability of the ongmal Borrower or Borrower", successors in interest.
<br />Lender shall not be required to commence proceedings against any successor fit Interest or refuse u) extend time for
<br />payment orotherwise modify amortization of the sums secured by this Security instrument by reason of anti demand made
<br />by the onginal Borroweror Borrower's successors in intere;r Any forbearance by Lender in exercising ails right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remed'v
<br />11. Successors and .Assigns Bound; Joint and Several Liability: Co- signers, the :o%c•rt: irls end agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of {ender and Borrower, suhjeCt to the pro\ Blow.
<br />of paragraph 17 Borrower's covenants and agreements shall be joint and ,cseral Any BClrrni4Cr Who Co -,rgn, 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 Sccunry instrument (h) is nil per, ally obligated to pay
<br />the sums secured by this Secuntg Instrument, and (ct agrees that I ender fit,, any other Borer• .•... may agree to extend.
<br />modify, forbear or make any accommodations %kith regard It, the terms of this ticcurrh lnstrw :rot w the Note without
<br />that Borrower's consent
<br />12. Loan Charges. If the loan se<ured by this Set. unts Instnmrcnt I, suh)rct 1,: a lay %filch sets rnaxunum loan
<br />charges, and that lawn finally interpreted so that the inicrrst "r „thcr ioan charges a,lle, r u, he ,ollecled um
<br />3
<br />connection with the loan exceed the permitted limits, Shen Sal .fns such loan ha;gc• shall lie reduced hs the amount
<br />necessary to reduce the charge in the permitted lint. and rho en, ,urns alicady 11I1CL(Cd trono Borrower %hich exceeded
<br />permitted limits will he rcfundrd to Borrower Lender may :h,sne t:• inal,e this rdLind hi rcduCing the principal owed
<br />under the Note or by making a direct payment !o B)rrn%ei If a refund ralucrs pnn, ipa;, Shc redo,ii.m will lie lreatc•<f as a
<br />partial prepayment %rthout any prepayn:.nt charge under the Note
<br />13. Legislation .Affecting Lender'-, Rights. it rna<tmrnt .0 • i ;,Iraunn ..f dppntah!c Id ", has rile c{fttit of
<br />rendenng any pros fston of the vote \lr Ihli scc111 its In,t ru men 1 tl tic 111: 1:, ea h Ir ,: <.•,r<f log Io it, is rin, I endcf. I !t, npi 1,111,
<br />may require Immediate payinent to ful! if all ,unit ,c•,ured by th!, 4uu,!s 1n,lnonu-nt and nfay !n\t,ke am rrnwdles
<br />permitted by paragraph la If I ender exercises this option. i e•ndcr shah fake the steps specified ul the seomd paragraph of
<br />paragraph 17
<br />13. Notices. Any n<,ticc w Borrnwcr prtl,rded lc•r in ihr. tirsunty lnstrurnrnt ,hail hvg :,cn h+ dch,cling it or by
<br />mailing it by first class maul uiilrss aprltcahle ht% requires use• It dn„ >.hcr medics! i hr: nnnit' ,hell )1, eluc<It-d to the
<br />Property Address or any <llher .dddre,s Borr, %er dc,igiiair, by m,ticr t,• Lender -IIn% nntl,:e "I I ciider ,nall he giicn hs
<br />first class mail to Lender, address stated herein •u any othc•I .rddlr• % Lender Je,lenatcs hi nonce t,, fiot fo; kcr km notice
<br />provided for in this Security Instrument shall he deemed Io heir heir, gi%vu it, 11m r „wcr nr I ender %hers gi%cu .I, pro% idrd
<br />in this paragraph
<br />15. (soverning Law; Severabilitr. Tbis SLCtiniy Invru!ncnr ,hall he lirntrd by ie•<ic•ial law and the i.lw of thr
<br />jun-Wiction in which the Propert., n locaied In the esew that any pr ,,isuur „r ,!au,r . t th!, i <• \anti lnsliunlrni ,r tic
<br />'.Vote conflicts with apphcahic la %, such :,)ntlu'l ,halt not .effect •,rher pr„\:,irn, •,l rhf, tircun(i in,trumcn! sir file \,ar
<br />which can he given rflect %shout the Conflicting pr,nt,wn 1„ thf, cod the pr,il,wri, rf till, SeSnif!\ Inslnnlicm and Ihr
<br />Note are deviated to be severahic•
<br />16. Borrower's Copy. Nirrower shall he giicn •,nr . ,r,formed ,npi ,•r the \oIt• suite of tilt, sit [file, In,i -umcnl
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. It ,ill .,r ,ii,, ;,,rid •,! ihe ]'r nI,cri% of ,iw,
<br />Interest in rt n sit]d or transferred (or it a hrncii,ial lnteT,,f in Borr•,%er n ,r,iJ ,1r !r.0 lr red amt Bon•,w rr 1, not .a naiw.il
<br />person) without Lender's pn„r wntinn con eni. t cndrr man if its , pu„n. rcgwfr mirrfrdialr pa, inrnt 111 tit!! ,,I all ,11111,
<br />secured by this Sc unty In,rrunmeni Nowric•r. thin, ,,Pfwfl ,has; lint hr ctrl, I,vd '„ I ruder :1 •. sric I,r I, ptAlihnr,d n,
<br />federal law asof the dateotthl,IK•Cuniy Instrument
<br />if Linder t'xrru;es this •)ption, Lcndc•t shall gi,,: B,,rr,,wc-r non, e „I ac,elciali-ai 1 hr non, v ,hail I`I, side I ;xis „t1
<br />ofnut less than 10days trim the date the rwti,c Is deiivefrd ,r rn,ulcd %Ilhrri '01, 11 Bnrrn%t 1 171,1,1 a, all ,urn, sr, need ht
<br />rho Security lnstruinenr If N,riower fails to pay the e ,urns r,iwf io thr rcperan, n ,•r Chi, pert,sf. { <ndrr .,1:r, n'.;•k, an,
<br />remediespermnted by tin tie.unty Instrument %i(hout further ra,tar ! .1rn,,In,i •n li,•!r,•%, r
<br />18. Borrower's Right to Reinstate. It Burro %c - Inert%,crtain ,nnuui, ns. H.,1•, %a 1 .halt h.,,, i!,. •!ghr . • na.,
<br />rnforctment of this >tncurny {nsurunrrnt <h,C!,nntnxd at ant nnir 1•(wv 1: the • erllrr I < .ta\ . . , ,u. h ,Ih<i ;xis . <I .,
<br />applicable la% may spcsIfl tot rcln,tatrmcnt r hcl yr ,fir ,•I the 1'r•,; rt, 1,unuanl -. ,ni 1 %„ ,i ,,,lr .: oi.rn, 11 1 111.
<br />Smurnti Ins!tunirill ;!r 1h1entri ,1 I lud)tntcrtl'nine ng!1,,, sc, u!!\ I:,•i; ,•i „n• i -. „,1!r1,•n•..0 !,.1r IS. %•r
<br />(a) joss Lender All turn, whr,h ;lien % „ul.l rW Jar under •r... 'K- .t,n!\ Ir1,lr11rnrn r i,t t•. \,•i• !,,l,l _. r,.,- ,r.1i�..•�
<br />,),t,irred Oil kurc% arts def:lui! „t art, •mil .. ,,.rn.tn t, '1 .,K "r!1I,•r,1. .. I•;f\, .rid' <l,<.•i.,." 1I. .. .,, r 1, •:, ,r, r; rill•.
<br />tMMMy.
<br />lwxurifF In,ifutnefft m— At.e,_l+nr,. I>ur nol 1,rlored rasa,!\ hie .fir ••�Ir \, f� '. 1 riJ -. 'i .r\
<br />rC8'N �flahli ,rgu11( I., , { \, 1a!t' 11)A1 the Ir'n .,I Ili:. `1. .. :ell I. "rr }f,tt ,1' ! „
<br />1
<br />r?tlir�,rl,(`!) , ;•.1, !h¢' ,Urt!•. let .lrr,l 1,\ ,i)„ `,, .,!� t 1'.. ,r,!(r,r .t .. 1 r , i •- -
<br />Fk =r r,Iw rr 1 ^.,, ,f. ,, ,1. .,n'-vt 4,141hr
<br />sass., ..S 1 {.. %, .. .. .�h• .. rn.t,efr.r..,, „ :. rlv r.. , � ,,.
<br />
|