|
<br />
<br />84 ~",..,..
<br />
<br />006708
<br />
<br />If Leader required mortpee insU1"lUlCe lIS a condition of making the loansecurcdby this Security~
<br />Borrower $hall pay the premiums required 10 maintain the ill5Ul'8llCe in elfect until SUCh tiW lIS the ~fOr.tM
<br />insurance terminatain aecordance with Borrower's and Lendor's written aareement or ~ h. .... . '
<br />8. IRllllEtiH. Lender or its agent may make feuonable entries upon andinspectionsofthePtopmy......
<br />shall Jive ~ notir.e at the time of or prior to an inspection specifying reasonable causefor the iaspection.
<br />t. CD ~l'lr ~tloa. Theprocceds of any award or claim for damages, direct orconscquentisl,in coanecticlg~
<br />any ~ or other taking of any pan of the Property. or for conveyance inlieuofcondemution. are'~
<br />II&ipcd and shall be paid to Loajer. . . ....,
<br />In the evest of a total laking of the Propcny, the proceeds shall be applied to the sums secumlby this~
<br />ImIJ"l1IMRt, whether or not then due. W1th any excess paid to Borrower, In theevest of a partial ~9fthePropcny,
<br />IIDIas Borrower and Leader otherwise agree in writing. the sums secured by this Security Instrument $hall bereduc:edby
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured inlmediateJy
<br />before the taking, divided by (b) tbe fair market value of the Propert). immediately before the taking. Any baIaIIcc 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 oftin to
<br />make an award or settle a claim for damages, Borrower fails 10 respond to Lender within 30 days after the date the notice is
<br />given. Leader is authorized to collect and apply tbe proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument. whether or oot then due.
<br />Un1essLender 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 1 and 2 or change the amount of such paymatts:
<br />10. Borrower Not ReleuecI; ForbesnuIce By ~ Not a Wail... Extension of the, time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any sua:euor in
<br />interest of Borrower shall not operate 10 release tbe liability of the original Borrower or Borrower's S1ilX:esSOl'S in intenIt.
<br />Lender shalloot be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment orotberwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by ~cr!!\ exercisin. any riPt or remedv
<br />----~a Watvel' of or preclude tbe exercise of any right or remedy.
<br />11. SucCMlfln I11III AIsips Beaad; Joint I11III SeYenJ UaIIIlity; eo..ipen. The covenants and agreements of
<br />flUs Security lastrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />ofparapaph 17. Borrower's covenants and agreements shall bejointand several. Any Borrower whoco-signs this Security
<br />Instrument but docs oot execute the Note: (a) is co-signing this Security Instrument only to mongage, grant and convey
<br />that Borrowers inlerest in the Property under the terms oftbis 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 />modify, forbear OJ' make any accommodations with regard to the terms of this Security Instrument OJ' the Note without
<br />that Borrower's COIIlIeIIt.
<br />U. Lou C1uIrps. If tbe loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charps. and that law is tlaaIIy interpreted so that the interest or other loan charges co1Iected or to be collected in
<br />connection with the loan exceed the permitted limit$, then: Ca) any such loan charse shall be reduced by the amotmt
<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 by reducing the principal owed
<br />uader the Note or by makinS a di~t payment to Borrower. If II refund reduces principal, the reduction will be treated lIS a
<br />partial prepayment without any prepayment cbu,e under the Note,
<br />13. I.tlill.... Aft'tetiaa Lender's Rllhts. If enactment or expiration of applicable laws has the elfect of
<br />renderins any provision of the Note or this Security Instrument unenforceable accordin,lo 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 />pcnnittcd byparaaraph 19. If Lender exercises tbisoption, Lender shall take the stepsspecilled in thescc:ond paragraph of
<br />paragraph 17.
<br />M. NetMeI. Any notice to Borrower provided for in this Security Instrument shall be given by deliverin, it or by
<br />....it by irst c1aa mail unless applicable law requires use of another method, The notice shall be di~ted to the
<br />l'Popcny Addnss or any other address Borrower designates by ootice to Lender. Any notice to Leader shall be given by
<br />im c1aa mail to l..aIdcr's address Slated herein or any other address Lender designates by notice to Borrower. Any notice
<br />pmrided fer in flUs Seeurity lnattument shall be deemed to have been siven to Borrower or Leader wben given lIS provided
<br />in 1lUs~
<br />15. ~ Law; Se~. This Security Instrument shall be lovemed by federal law lInd the law of lhe
<br />juriNiction in which the Property is IoGated, In the event that any provision or clause of this Security Instrument or the
<br />Nose ~ wQ applicaOle law, such conftict shaI1 not .. other provisions of this Securily Instrument or the Note
<br />.... .;an be Ii- d'o:c without the confticting provision, To this end the provisions of this Security Instrument and the
<br />Nose lIR cIcdand to be sevcnbk
<br />16. ........, Copy. Borrower shall be siven one conformed copy of the Note and of this Security Instrument.
<br />17. 1'n8Itcr of the Prepert)' or a O..lIfidld I..... ill Borrower. If all or any pan of the Property or allY
<br />~ ill it is sold or ~ (or if a blmdcial interest in Borrower is sold or transferred and Borrower is not a natullll
<br />~) without l..aIdcr's priot wril:ten consent, Lender may, at its option. require immedllue payment in full of all sums
<br />_Ufcd by lhis Seeurity InstfUtMllt. However, this option shall not be exercised by Lender if exerci~ is prohibiled by
<br />~ law .oftM dace of this Seemty Instrument,
<br />If~ ___tbis option. Lender sha11 live Borrower notiGe of acc<<leration. The notK..~ shall provjdc a perlOO
<br />or.- less tIIan 30 days fl'0m the date the notice is delivered Ot" mailed within which Borrower must pay allllllms _ured by
<br />t1m. ~tJ ~. If Borrow.or fllils to pay these sums prior to the expiration of this period, Lender may invoke !In)'
<br />~~ by Ibis Security IMlNtmnt without further notiGe or demand on Borrower.
<br />II. ..U,.1\....... to Rei...... If Borrower meets certain ,,'omhtitms, Borrower shall have the riSht 10 have
<br />~~ o€lihisllfArily IllIitnImlMllldiswnlitlved at any lime prior 10 the earlier of: (a) 5 days (or such other perlOO as
<br />~",JII.blr law -f ~ fOt" rcSN.tatdlffimt) before M.Ie ufthe Property pumumtlO lIny power ofllllle contained in this
<br />~li' IMtr~; Of Cb) mIry of ill jlSdtment mfOfctlll thl$ SCll:luity Instrument. Thotoe ctmditions lire Ihal Btlf'fOWer:
<br />(a) ~ ..... aU SIIIlI!I!I w~h dum would be dllC u.lldef Ihis Security Instrument and the Note had no i!i:ce!erallon
<br />~ (tt) ,,- amy de/:.mt of ,MY other <<t1<_1ll OK llf;r_Jlls; (c) pays IIU espen!ICS Incurred in enl{)f'cing Ihls
<br />~.., IMt~ lneh~ Iml; rlOt limned to, r~bk IIttorneys' f_; ami (d) lakll$ such /Wlit>l'1 las (""nder 1ll1I)'
<br />r~ r...n to _lfe thllt tllet 111m of tllIt lIfAnl)' l/I$lrUIMIlI. Lender's rlllhls III loe I'mpcrly and RorrOlYcr\
<br />~ IQ the su_ 'ICll:llnid ~ tius ~lIril)' In.strUrnMl ,hall t.onllllue unchllllged. Upon rCIJIMalenwnl hy
<br />hr""''''f. lhlll IIlSlrulTlclU IIr~J 1M (lb!i~ ~Ufed hen:b)' shall remllm full)' e1f<<mc "' If no 3"el::lllllon had
<br />''''~liff'''''. tl<Yl>e'~r. fllthl to remslllle sll,lU nl1lllPf'll' In tn.: ,'~;;: of ac',,~lerallOll under p~l mllflll'h, 11 n, 11
<br />
<br />l
<br />
<br />
<br />,.
<br />.;,~
<br />
<br />_J
<br />
|