|
If Lem required n as a condition of tnalti the >aan 003339
<br />Borrower shall pay the premiums ng socuraed by this Security Instrument,
<br />Bodo erfermi required to maintain the insurance in effect until such time as the requirement for the
<br />accordance with Borr s and Lender's written agreement or applicable law.
<br />shall & :111"Mtiatt, Lender -its agent[ may maize flammable entries upon and inspections of the
<br />�� at Mitts eeex prior to an inspection specifying rus=aW, cause for the inspection.
<br />Lender
<br />any other P d any award or claim for damages, direct or consequential, in connection with
<br />assigned and shall be taking of any girt of the property, or for conveyance in lieu condemnation, are hereby
<br />paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />unless B rtr. whether and or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />the OUn1' of Lender Otherwise ogre in writing, the sums secured by this Security Instrument shall be reduced by
<br />proceeds ig b multiplied by the following fraction_ (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall 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 to Lender within 30 days after the date the notice is
<br />given. Lender is authorized to collect and appl), the Security instrument, whether oar not then due ' Wither to restoration or repair of the Property or
<br />to the sums secured by this
<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 />1H. Borrower Plot Rekaw* Forbowsoce
<br />modification of amortization of the sums secures by By Le"W this Security Instrument rent Extension of the time for payment or
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's Lender
<br />to catscors in interest.
<br />Lender shalt no be required to commence proceedings against any successor ;n or o o refuse c extend time for
<br />by the of o• al Otherwise
<br />Borrower or modify amortization Bathe sums secured by this Security instrument by reason of any demand made
<br />by the original Borrower or Borrower's succesarm in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />Il. laccenara slat Anitipas Bass* Juilat and Several Lashihi
<br />this Security Instrument shall bind and benefit the successors and assigns of Len nd Bah ower, subject o theagreements provisions
<br />O'paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs 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 Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />moddy forbear or make any aca�mmodations with regard to the terns of this security Instrument or the Note without
<br />that Borower'sconsent.
<br />12. Lalala Chi, If the loan secured by this Security Instrument is subject to a law which sits maximum loan
<br />charges. and that Iaw is finally Interpreted so that the interest or other loan charges collected or to he collected in
<br />connection with the loan exceed the permitted limits, then; (a) any such loan charge shall he reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />Permitted limits will be refunded to Borrower, Lender may choose to make this refund h} reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. if a refund reduces principal, the reduction will he treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />I& Legiadatioa Affmfing Leader's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according rolls, terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoice any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Sex unty Instrument shall he given by delivering it or by
<br />mailing it by first class mail unless applicable ]aw requires use of another method. The notice shall be directed to the
<br />Propety Address or any other address Borrower designates by notice to Lender. Any, notice to Lender shall be given by
<br />first class trait to Lende's address stated herein or any other address lxnder designates by notice to Borrower. Any notice
<br />provided for in this Secunly Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this mph.
<br />1S' Ong taw, SewcTsbillity. This Security Instrument shall he governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of' Security Instrument or the
<br />i hie cae�lxis with sgapdicabk law, such amrafttrt sha11 not affect other provisions of this Security Instrument or the Note
<br />N
<br />which can be given erect without the conflicting provisiaxr. To this end the provisions o, this Security Instrument and the
<br />Ntmtt are declared to be severable.
<br />17 may. Borrower shalt be given one ccmformed copy of the Note and of this Security Instrument.
<br />inter tst in it r solid oft year a Beneficial I is Borrower. If all nr any pan of the Property or any
<br />transferred (ore if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />lam) without Lender's prior written consent. Lender ma at its
<br />secured by this Security Intirrume nt. Howtvtr. this option shall naatphe txr cquir bm edict payment ins full Ofa l sums by
<br />federal law as of the date of this Security i nstrurt�nt.
<br />If lender omtaysfro this optiem, Lender shall give Borrower notice of acceleration. ]'he notice shall provide a penaxf
<br />this th than trdays ferias the date the notice is delivered or mailed within which harrower must nay all sums %cowed by
<br />Security Instrument, If It fails to
<br />pill [hest sums peter to the expiration of this period, Lender may invoke any
<br />-"Obn Permitted by this Beatify instrument without further notice or demand on Borrowet.
<br />RailaabMe, If Borrower rtes etrtain camdtitxas, ilnrtower shall have the right to have
<br />cal of this nPlilleathk Security Instrument discramran ued at any tame prior to the earlier of. (a) 5 days (or such other penoci as
<br />Smartly I w MAY +pacify for reinstatement before sale of the Property pursuant to any power cif sale contained in this
<br />rmctnaxmn, Of 4trd entry of a Judgment enfexcing this Security lnsrrumrnt. Those condittom are that ld In
<br />(ad rays L NJ' surmt. which then would he dare under this Security Instrument and the Note had rte aeceleratrc,ta
<br />occurrvd. ib) corm any default of aaav other covenants or agttetnents; (e) pays
<br />all expacosen incurred n) ruinrctnl the,
<br />maturity lmtarrurnenn, ,emsiudarag, but tax limited to, reawinable allOrnev%, f(r%, and (d) takes %each aczlon a% I.ende°r ria,
<br />r ably re more Ica assmmre that the teen of this Security Instrument, Lender's rights ,n the Prater :� ,and !l >rr< >N
<br />ea€t t �) she sua�x w-read h), [has SxYurtt) Instrument %half : nttatue a :ncharig <�i t M,n rt•rra'txte!nt-a ; t ha
<br />wxrcmer, etas °urtty Ifuctrumenl taut theINIgatatns � ured herehy shall rrniatn (ttlh cBF� °tar r r(rt�«atrleraI i) =sad
<br />"'vrr*d Iitaxe'cr, if,.% "Itht r« reran %lane stall not apply ni tau s.ax, "I a crler311� » ond,•t tea, a�.rsrt
<br />
|