|
j' 85-- 0034'70
<br />If 1 -ender required mortgage insurance as a on the an of making the loan secured by this Security Instrument,
<br />Borrower shatl pay tie pr to maintain the insuratux in
<br />insurance t 4n e6ect until such time as the requirement for the
<br />itilt}t Borrower's ate Lender's written agreement or applicable law.
<br />R laupetiion. Leader or its matt may make reasonable entries inspections of the Property. Lender
<br />Shall give Borrower msKkx at the t of or prior to an inspection and
<br />'. Tile spe:oifying retesouble cause for the inspection.
<br />anyany condemnation or other tinkle g of the Property, for damages, direct n Consequattial. in connection with
<br />and shall be paid to Lender. ParttY. or for conveyance in lieu of cation, are hereby
<br />In the event of a total inking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />ltwtrument, whether or no that due, with Amy excess Paid to Borrower. In the event of a partial taking of the Property.
<br />the
<br />unless atatBorr w t and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />proceeds multiples by the following fraction: {a) the total atuonat of the sums secured unmediatdy
<br />paid before the taking, divided by (b) the fair marks value of the Property immediately before the taking. Any balance dull be
<br />Maid 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
<br />is
<br />Unless given, Leader is authorized to collect and apply the proceeds, at its option, either to restoration or repair d the Property a
<br />to the sums secured by this Security Instrument, whether or no them die,
<br />Postpone the due dater Ofthe montthl payments �� a writing, any application of proceeds to principal shall not extend or
<br />Ill. Borrower I� R F rbear referred to in Paragraphs 1 and 2 or change the amount ofsuch paystents.
<br />By Leader Not a Waiver. Extension Of the time for payment or
<br />Lmwrest of Borrower amortization of the sums secured li this Security Instrument granted by Lender to any successor in
<br />eade tt s Borrower soul! not operate to release the liability of the original Borrower or Borrowers successors in interest.
<br />Lender shall not is required m commence the su proceedings against any successor ito interest or refuse to eat for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason a any demand made
<br />by the arieiAal Borrows o Borower's successors in interest. Any forbearance by Lender in exercisang any right or re awdy
<br />shall no be it waiver of or preclude the exercise of any right or remedy,
<br />11. Sttaeaaets NW Assii $ Joint and Several
<br />this Security I Win+ Co- s, The covenants and agreements of
<br />�, y mstrutnent shall bind and benefit the successors and assigns of Calder and Borrower, subject to the provisions
<br />Instrument but Paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs tints Socutrity
<br />that Borrower's interes isist t stun theuProperty Note: er is test s of this Security Instrument only to mortgage, grant acrd convey
<br />ns under the terms of this Security Instrument; (b) is not personally ON to pay
<br />the stems secured by this Security Instrument; and (c) agrees that Lahr and any other Borrows may egret to extend,
<br />Y, forbear on make any accommodations with regard to the terms of this Security Instrument or the Noce without
<br />that Borrower's consent.
<br />11 Lana Cbergas. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />connect, and with that law is finally interpreted so that the interest w other loan charges collected o, to be collected in
<br />connection wino the lent exceed th penmtted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the chap permitted Haut: and (b) any sums already collected from Borrotiter which cum
<br />Permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the dad
<br />under the Note or by making a direct Payment to Borrower. If a refund reduces g Pre treat owed
<br />Partial prepayment without any prepayment char PtinciPal, the reduction will be treated as a
<br />1� charge under the Note.
<br />' Loodff s > if enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />Paagrap 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 Security Instrument shall be given by delivering it or by
<br />availing a by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Len�r shall be given by
<br />first claws mail to Lender's address stated herein or any other address Lender designates by notice Lo Borrows. Any notice
<br />provided for is this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph,
<br />IS. !evening haw; Severabdity. This Security Instrument shall be 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 this Security Instrument or the
<br />Note contests with applicable law, such conflict shall no affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument end the
<br />Note are declared to be severable.
<br />If. 9nrewer'a Cttpy. Borrower shall be given one conformed copy oft fie Note and of this Security Instrument.
<br />17. Try or the Property or a Beneficial Interest is borrows. if all or any part of the Propery or any
<br />Interest in it is sold or transferred {or if a beneficial interest in Borrower is sold or t rail or ed and Borrower is no a tut Aral
<br />Person) without Lender 's prior written consent, Lender may, at its option, require immediate payment in full td all sums
<br />secured by toot Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as Of the date of this Se runty Instrument.
<br />If Leader exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />0fa0t le" than 30 days from the date the notice is delivered or mailed within which Borrow s• must pay all sums securtd by
<br />thus Security Instrument. Hborrower falls to pay these sums prior to the expiration of this nod,
<br />reaaedtes Pernutted by this Security n pie Leader may in voke any
<br />y strumeut with further notice or demand out Borrows.
<br />hlerrettar"s R1sM If Borrows mats certain conditions. Borrower shall have the right to have
<br />enforcement of this Security Instrument discout nom at any time prior to the earlier of (a) 5 days (o such other period as
<br />law than specify (y fix reiof ajudgmt ) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; o (b) entry of a Judgment enforcing this Security Instrument. Those conditions are that Borrows:
<br />(a) Pays Leander all sums which then would be due under this Security Instrument and the Note tud no acceleration
<br />.occurred. (b) cures any default of any other covenants or agreements, (c) pays all expenses incurred i n enforcing accelr tits
<br />Security Instrument, including, but not limited u,, reasonable attorneys' fees: and (d) takes such action as Lender may
<br />reasonably requtre to assure that the lien of this Security Instrument, Lender's rights in the Property and Nirrower's
<br />Obligation to pay the sums secured by this Security Instruuuent shall continue unchanged. Upcm ranstatemeiat by
<br />Borrower, this Security Instrument and the obligations secured hereby shall remain Fully eRt"Ive as el 'nn arcelei'auon had
<br />1 zcW r e,t H —rvrr. this right to re:irr tatr shat; not a ir,ly to tic c e ,d .a .
<br />1 :lc ratunn u &i iiat,j4 tptjs '
<br />feAt rti
<br />,i
<br />
|