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9
<br />00;C05`3
<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 pnncipal 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
<br />payment or
<br />Modiflcstion 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 be required to commence proceedings against any successor in interest
<br />or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason
<br />of any demand made
<br />by the original Borrower or Borrower's successors in interest.
<br />Any forbearance bv_ Lender in exercising any right or remedv
<br />shall not be a waiver of or preclude the exercise
<br />of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability;
<br />Co- signers. Ftie c:iec °3ants anu agreements of
<br />this Security Instrument shall bind and benefit
<br />the successors and assigns of Lender and I3orro«er, suhject to the provisions
<br />of paragraph 1?. Borrower's covenants and agreements shall be
<br />joint and several. Any Borrr,, %er who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument onle
<br />to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument:
<br />(hI is hat per ser.aliv obligated to pay
<br />the sums secured by this Security Instrument; and (e) agrees that Lender
<br />and any other Forrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security instrument 11'nie
<br />that Borrower's consent. or the: without
<br />12. Loan Charges. If the loan secured by this Security Instrument is suhtect it) a law which sets maximum loan
<br />charges, and that law is finally interpreted
<br />so that the interest or other loan charges cnllected or to L.e cnifected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be
<br />reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already colleted fr -rn Borrower v, c
<br />exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose t o make this refund h, :educing the ;rincipal owed
<br />under the Note or by making a direct
<br />payment to Borrower. If a refunLi -educes pnnc:pai, t':e e�:uction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation AtTecting Lender's Rights. If enactment )r expiration Of applicable laws has the effect of
<br />rendering any provision of the tiote Secunty
<br />or this Instrument unenforceable according io its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by Security
<br />this Instrument ana rnav invoke anv remedies
<br />permitted by paragraph 19 If Lender exercises this option, Lender shall take the steps specified
<br />paragraph I. in the second paragraph of
<br />14. Notices. Any notice to Borrower provided for in this Security instrument shall be given by delivering it or by
<br />-flailing it bar first class mail unless applicable law requires
<br />use of another method. The notice shall be directed to the
<br />Properly Address or any other address Borrower designates by notice to Lender
<br />Any' notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or anv other address Lender designates by notice to Borrower.
<br />Any notice
<br />provided for in this Secunty Instrument shall be deemed to have been given to Borrower or 11 ender when
<br />n [his paragraph. given as provided
<br />15. Governing Law; Severability. This Secunty instrument ,hall he );y federal law
<br />hoverned and the law of the
<br />ni"scf; ;:lion m �.vh:ch the Pro erty :s located. N c "t
<br />p In th ;at anv }:rovi >lon c,r Cla :ce :,; t! ,; S,- cur.ty Instrument or the
<br />'�c?te ctmfl,cis with applicable law, such
<br />conflict shall not affect other provisions of this Security Instrument or the Note
<br />A'uch can be ,given effect without the conflicting To
<br />provision this end the provisions of this Secunty instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one ,onformed cepy � f the Note and of this Security Instrument.
<br />l?. Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the Property
<br />or anv
<br />lntere,t it) it is sold or transferred (or if beneficial interest in Horrower !s sold or transferred and Borrower is not a natural
<br />person) without Lender's
<br />prior written consent, Lender may. at its �.�t�rii�n, require immediate pavrnient in (till of all sums
<br />secured by this Security Instrument However, this option ;hall he
<br />n, ;t exercised by Lender if exciC: ;e :s i riihibited h�
<br />fcder:ti law as of the date of this Security Instrument
<br />If 1. ender exorcises this option. Lender shall gr.tt Ho rr..iwer r. ;lice f
<br />acccieratiavi. Fhc notice s;, ail ;,r(,% tile a period
<br />of not less than "0 days from the date the notice Is deliver. -ti or mailed within t hick f ?orrower
<br />rf,uq hay all tit,rn� secured by
<br />tits Secunty Instrument. If Borrower fails to pay these suins prior if) the expiration of this I.erider
<br />peric•t,. Ina,, in oke ;In%
<br />remedies permitted by this Security dnstrurnerit without further not ice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain ;ondinons, Borrower shall hate he: rictht t;) hay _'
<br />nt(ir-- lie`nt i :his `>ei.:urit in')tnua)
<br />�ni di,,co)iitIntrcd at any nine' priilr tit the earlier of (a) S day ti (or �suc!11 it}Cr pII-Inod ati
<br />applicahle law rn&v
<br />,I?f�i'y ft)r relitS,*ater'nent) hef0i -e sale .. %t the l'rt)prfty pUrStlilnt t0:lriy" rov-er 7f.`i.ilt ii nraint'd ni tlllti
<br />se urit� Iiistrunient, h;
<br />t iii: 't :i 'tidgrnent enforcing this 1eLlirliv instrument I11(ihC i.lnijlt!( Iii are' ti;; ?t I�ilf rt ?N <:r
<br />fa) p�ays Lender all %urns wnli.h t)i "fi Adli /ld be due under this Security Instrument and Note
<br />itie had fii? ;il ticritlt'Sl
<br />t4trrr <d, (bi ire a `a oil i %f afi6 ,:itner cl7yenanFS t)f :ii'reertients: (C') C)j,,s all CxI'eilStr, incufrt °t !n 'nforting tl)i,
<br />Secunty Instrurf
<br />t.ait, t ;I:, ;i "; tiEi( pica limited to, rcallonahle attorney,,' feeN. :end I, takc, .i .' it.ti a`, i
<br />j! 1 r i_Cr der ill,),
<br />reasonably' peril tr ss.:ire h;it tti: '1cn � f` this tirc:t.inty In
<br />;trurncnt, I cr ;i ;er'�, � gh � ;� , .,
<br />;bli siis;ti t =., �,,� tf� - € pr'r. � °��i !3 rr sv�rr ,
<br />{ t i. ,ss t, ,ft�� h` th,s instrument shill i
<br />_11i1tinllC' 11��.�„a(ix::.'t: non c;i;L,t.i,c. ;,, ;.
<br />Bt..>rrntoer, tnis t i:tr r,ae:it .iP u' 9r ifil4a(it)!I, �cCi ;red hervhv nail i �ma,ri t ;. i
<br />. wc'urred Ht ;avr his
<br />- 1w.r`t ,�� roil ;a,. ,h.sll r;nl :itil?ly ui the Cash' nt ;iC:elc tatt,ui ,;•1,1, t ,'•i it,..,,;'iti 1 ; „
<br />NoNj,,' '1P flM t +,y E, °.x tits Horro v r,r and Lender further:Ovenant and
<br />19. acceleration; Remedies, Lender shall give notice to Borrower prior to acceleration foll,,ing liorruwcr's
<br />breach of any covenant or agreement in Seccurity
<br />this instrument (but not prior it) accCleration under paragraphs l,t and 1.
<br />unl applicable law provides otherwise). The notice shall specify; (a) the default;
<br />(hi the action required to curt the'
<br />default; (c) a date, not less than 30 clays frorn the date the notice is given to 14e)rrower, by which the
<br />(](,fault must he cure'el:
<br />and (d) that failure to cure the default on or hcfore the date specified in the noticc may rt °suit in at:ccleration of the ilinis
<br />secured by this Security Instrument
<br />and sale of the Property. The notice shall further inform Boorrower of the right to
<br />t�.
<br />rcinStaft after acceleration and the right to tiring to court action to assert the non- c'xista.rni:e of a de'fatllt or any othci'
<br />defense of Borrower to acceleration
<br />t� ,
<br />� i
<br />find sale. If the default is not cured on or h0ore' the flAtc ,pccitit,d in tfit' ti,fice'. I entlt'r
<br />9
<br />at its iVion may require immediate payrnCnt In full Of all tiumi secured he t))i.4 ot`tit9ttii In%filinit' tit tithout ruittiLr
<br />demand and may invoke the power (If sjlr
<br />and any tother remedies permitted tie lipplicAllit• lase. 1 r )der shrill he t'noiled to
<br />Cr,llect all ex;wnNr.% ine:tirre'tf in purouing the rernribei provided 1n this fl Rrf;i'E:1 t'i,
<br />pf! ItPt ill (tldl i,;,, 3 1 ti, �t illnitt'tl t),
<br />re ,finable attorneys' fres 111(1 1 of titic t'mtrlcnce°.
<br />If the pe,%cr of sale is invoketl, I ri)stt'e shat record a siiotice ,if default
<br />il0 li Dill ;r.ii t i till
<br />Propr1tv i5 1< >tAfed ind shall trea,I cr>pirs „f 4 it notice ir'i the nianner prvsc;thed f, ,i° i,le� �t:I, i.i:a
<br />th e tst,$)s toy
<br />art t4 rtlte €t esp;gEie�ht l�ae. .�tttr tht" little, ro.11"bea•d hs 4
<br />`
<br />Itrt t)vo,'sei'stna=st EI'9' Appiilal>le I;114�, 1r +1sta,a, m °'s,.,, ;t i
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