|
If the Property is abiandonec b B <orrower or if, after ri.,)t ce b 85- 003292
<br />make an award of settle a claim for Jam4es. Borrower frai� y Lencier io Borrower That the condemnor offers to
<br />given. Lender is authorized to coliect i,,d appiv he P.O., As 10 reWnd to Lender within 30 day--. after the date the notice is
<br />s. at its option, en be, to restorat
<br />to the SUMS secured by this Security eed I - Ion or repair of the Property or
<br />11-1sirument, 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 aue date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10• BOrr0wer Not Rcle&se�-, Forbearance By Lender Not a Waiver. Extension of the time for paymerIt or
<br />modification Of amortization c)f the sums secured by this Security Instrument granted by
<br />Interest Of Borrower shall not operate to release the liability of the Lender to any successor it,
<br />original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence Proceedings against any successor I interest or refuse to extend time for
<br />payment or otherwise modify amortization of The sums secured by this
<br />by the original Borrower or Is Security Instrument b reason of any demand made
<br />Borrower's successors in interest y . .
<br />- Any forb�_--_%ce by Lender In exercising any right or remedy
<br />shall not be a waiver of car preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound, Joint and
<br />this Secur Several Liabiliti. (_�z-signers. The covenants and agreements f
<br />lZY IT'strum ent shalILlInd and benefit the successor -1 0
<br />a asSqgns of Lender and Borrower, subject to the provisions
<br />-Borrower's CON enants and agreements shall ese.joint and several. Any Borrower who co-s'
<br />of paragraph I "� s , n
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument co -signs this Security
<br />that Borrowers interest in the Pr_)Perr-, under the Terms of t only to mortgage, grant and convey
<br />;his fie., . , - Sccuritv Instrument; (b) i's not personally obligated to pay
<br />the sums secured by * thi;
<br />=, ll'strument; an� (c) agrees that Le
<br />modify, forbear ormake any accommodations with regard -nder and any other Borrower may agree to extend.
<br />egard to the terms Cf this that Borrower's consent, Security Instrument or the Note without
<br />12. Loan Charges. the " by )3n secured 1 this Security Instrument is sub_iect to a law which sets max'
<br />I
<br />.lerest or
<br />charges, and that 1-aw 'nTernre'ed so that the in imum. loan
<br />connection with The loan exceed the Permitted limits, then: (a) any such loan char'
<br />necessan, to reduce the charge to the Permitted limit; charge shall be reduced by the amount
<br />permitted limits Imit: and i b) any sums already Collected from Borrower which exceeded
<br />its will be refunded to Borrower. Lender may ,choose make re-und by reducing the principal owed
<br />under the Note or by making a direct payment to borrower. If a refund reduce-
<br />partial prepayment without any prepayment nrinclpal, the reduction will be treated as a
<br />ayment c1narge under the Note-
<br />13. Legislation Affecting Lender's Rights. if enactment or expiration of at)Plli-able laws has the effect of
<br />renclering any provision of -the Note f.-'i,
<br />SeCUMN Instrument unenforceu ie accc 1)
<br />rding to its terms. Lender. at its option,
<br />may require immediate payrnent :I,, .;)Jil 'Dr all i �-Ums secured h1v this
<br />Securliv Instrument and mav invoke any remedies
<br />Permitted by paragraph 'I) It' Lender e,k'
<br />paragraph 1 7. - ercises tfiiS option, Lender shall take the specified in t
<br />14. Notices. Am- noti-,- jf� he second paragraph of
<br />mailing it b� �ir In-i-i rnent shall be given b} delivering it or by
<br />1:1 this SCC`1.17T� I L. 9
<br />'iP�i!cabie law require-, use of dn,,"t�-Icr m"'h0ci. The I
<br />Property Address or an�, notice shall be directed to the
<br />0111'er addres� Borrower designates by notice to Leader. :any notice to Lender shall' be given by
<br />e
<br />first class -nail to Lender*s address sated ej herein or anv other address Lender des�,gnate!, by notice ice To Borrower. Any notice
<br />Provided form this Security Instrument shall be deemed to have been given to, Borro
<br />in this paragraph. wer or Lender when given as provided
<br />15. Governing Law; Severability. This Securir%, Instrument shall he governed by federal law and the law of the
<br />jurisdiction in which the Property is iocaled. In the e%ent that any provision or clause o
<br />Note conflicts with applicable law, such conflict shall not affect other provisit- f this Security curity Instrument or the
<br />which can he eiven effect w )ns of this Security Instrument or the Note
<br />without The conflicting provisl this en
<br />be se,, e e.
<br />Note are declared c� n - To d the provisions of this Security Instrument and the
<br />16. Borrower's Copy. Borrowei
<br />ii be given one 1*o_nf,,-,.-rnled X,Pi -,)f -..he Note and of This securlty Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If air Or any part of the Property or any
<br />interest in it is sold or !rznsferred (or,if a �,encnc;ai interest in Borrower is sold nr transferred and Borrower is not -a natural
<br />Person) without Lender's prier wrIllell Con
<br />sent, Lender may. at its ()ptj()P. require ,lnmed*1a!e payment in full of all sums
<br />secured by this Security Instrument However, this Option shall not be exercised by Lender if exercise
<br />Instrument. Ise is -Prohibited by
<br />federal law as of the date ofthis Security
<br />If Lender exer_ls I.
<br />- es this option. Lender shall give Borrower notice of acceleration. The notice
<br />of nit less "hat, 30 days frr, the: shall Provide a period
<br />m Nte date notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security instrument. It Borrower falls �,() pay these
<br />remedies ese sums prior to the e.xpira1;(_)n Of! his period, Lender may invoke any permitted "his secul-MATIStl-Urnent Without further notice or demand on Borrower. y
<br />IS. Borrower's Right to Re'in$t2te. If Borrower meets certain conditions, Borrower shall have the right to ha,,e
<br />enforcement cif this Securit� Irls',rumenz discontinued at any tune prior to the earlier of. (a) " days (or such ether period as
<br />-ale (,it- the Property Pursuant to any Power of sale contained in this
<br />applicable law may specif,� for nnnstalerrient) before s _.th
<br />StcurltN lnsirum,�,.'!11, ,-,r chi cnr,. A .1 a :u4ment enforcing this SecurlE
<br />(a) pays Lender ad sum, conditions are hat Borrower
<br />, w Y Instrument. Those
<br />hich, her, would he due under this security Instrument arid the Note had no acceleration
<br />occurred: (b) ALT any al* '! other coi,-enanis Or agreements ",c) Pays, all expenses incurred in enforcing this
<br />Security Insirumelit. including, bu-, ,,(Jt 'urilted lo, reasonable atforne�,,' fee'
<br />reasonably rt!qulr_, arid 1J) takes
<br />,u4:.h action as Lender ina�
<br />M assurt lhat -�hc Ahcri i`f !hls Securlt% lnstr.mitnt� rights in the Property and
<br />obligation to pa'. 1he sums -,e�:Urcd h�, hl.; secwltv InsZrUrnent
<br />Borrower, ln!�lrulnenr and, il�c �,�,nrinue uM�hlanged., Upon relrssiaerricnt
<br />A fit" cleranurl 1�ad
<br />(-ccurred. H(.,we,.e,,. this rizri, iii it remain fullY rlfe��Ejvia&,ifno) ac-
<br />J.% In the cad under ara graphs
<br />NOIN-UNIF0RM COVENAN'TS. Borrower arid Lender further co%enar.; and agree• s follows� � 13 ir 17
<br />19, Acceleration- Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br />breach of any covenant or agirvement in this Security Instrument (but not prior to acceleration under paragraphs 13 and 17
<br />Unk" apPhcable law Prove otherwise). The notice Shall specify: (a) the default; (b) the action required to cure th'
<br />d9buk (c) a date, not less than X) days from the date the notice is given to Borrower, by which the default must he curede;
<br />and (4) dkat failure to cure the default (In or befort he date specified in the notice may result in acceleration of the sums
<br />i"Cured by this Security instrument and �,Ijle oft
<br />the Property. The notice shall further inform Borrower of the right to
<br />rVinsWe after acceleration and the right llir) bring a court action to assert the non-existence of a default or any other
<br />d0f1ifte of Borrower to acceleration and $ale. If the default is am cured on or before the date s
<br />at Its oPtiQ" may requke itamediate payment pacified in the notice. Lender
<br />demand and may' in full Of all Sums secured by this Security Instrument without further
<br />Mvoke the Power O( sale and any other remedies permitted �V
<br />Collect all expenses incurred in pursuing the remedies provi de ' applicable law. Lender shall be entitled to
<br />reason" attorneys' fees and costs Of title evidence. d in this paragraph 19, including, but not limited to.
<br />If the power of sale is "nVf)ked, Trustee shall record a notice of default in ejch county in %thich �, 11%
<br />Property is located and shall mail topics of such notice in the part of the
<br />other persons prescril)td manner Prescribed hi, appiicabic law I() florrow'er and To the
<br />by applicable law. After the time d
<br />sale to the Persons and in the manner Prescribed by applicable requ'ro b �'PPllcablc 13w, Trustee shall L!,st: pubfic
<br />plicable la v',. lrus!et, without fie",jric, jtn
<br />MI
<br />
|