|
<br />
<br />84 - 006848
<br />
<br />r If Lender required mortgage insurance as a condition of making the loan secured by thjsSecurlty ~,
<br />. Borrower shall pay the premiums required to maintain the insurance in eft'ect until such time asthercq~tfcir..t~
<br />insurance terminates in accordance with Borrower's and Lender's written aareement or applicable law.
<br />8. InspectIOIt. Lender or its agent may mllke reasonable entries upon ~d i.,s~ionsQ(,thCl
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable ClIUIefOl'tlteinl~~
<br />9. Cu....nlStfen. The proceeds of any award or claim for damages, direct or conscqUClllijaJ.iD
<br />any condemnation or other taking of any part 01 the Property, or for conveyance in lieuof~_
<br />assigned and shall be paid to Lender, ,.. .>\ . .' ...." .....,.\/.',
<br />In the event of a total faking of the Property, the proceeds shall be applied to the sums seCUrecI.bY'dIi$~~
<br />Instrument, whether or not then due, with any excess paid to Borrower, In the event of a partiaJtllkins ofthelb~Y'
<br />unless Borrower and Lender otherwise agree in writing. thc sums secured by this Security Instrul1llmtsUH be tiid.\'l~tby
<br />thc amount of the proceeds multiplied by the following fraction: (a) the total amount of the SlllM ,secllRl1 imm..Uly
<br />before the taking, divided by (b) the fair markct valuc ofthc Property immediatcly before thc takin,. Anybalancl.:sWbe
<br />paid to Borrower,
<br />If lhe Property is abandoned by Borrowcr, or if, aftcr notice by Lendcr to Borrowcr that the condemtwroft'ersto
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days lifter the date the~ is
<br />given, Lendcr is authorized to collect and apply thc proceeds, at its option, eithcr to restoration or repair of the Property Or
<br />to the sums secured by this Security Instrument, whcther or not then due,
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds 10 principal shall not exteftct,or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or changc thc amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a. Waiftr. Extcnsion of thc time for pa~t9t
<br />modification of amortization of thc sums secured by this Security Instrument granted by Lender to any slICCeSlOr"ln
<br />intcresl of Borrower shall not operate to release thc liabi lity of the original Borrower or Borrower's successors in interest.
<br />Lendcr shall nOl be required to commence proceedings against any succes!lOr in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Securily Instrument by rca.<;on of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any rightofTemedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />'---.---------1-1.-~.and.Asaigns..&u~ ~vl'.,., Liability; C.g sigJIe~e covenants a
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to Ihe provisions
<br />of pardgraph 17. Borrower's covenants and agrccmcots 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 />thc sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to CXlend,
<br />modify, forbear or make any accommodations with regard [0 the terms of this Security Instrument or the Note withoul
<br />thaI Borrower'sconsenl,
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject 10 a law which sets maximum loan
<br />charges. and that law is finally interpreted so thaI the intercst or other loan charges collected or to be collected in
<br />connection wilh Ihe loan excccd the permitted limits. then: (a) any such loan ,'harge shall be reduced by the amount
<br />neccssary to reduce the charge to [he permitted limit; and (b) any sums already collectcd from Borrower which exc~'(k-d
<br />permitted limits will be refunded to Borrower, Lender may choose to make Ihls refund oy reducing the princIpal owed
<br />under the NOle or by making a direct payment to Borrower. If a refund reduces principal. the reductiOll will be Ireated as /l
<br />partial prepayment without any prepayment charge under the Note,
<br />13. LcaislatiOlt Affeeting Leneler'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 to ils terms. Lender, at its option.
<br />may require immedllue paymelll in full of all sums secured by thiS Security Instrument and may Invoke any remedies
<br />permitted by parll8raph 1'1, If l.ender exercises this option, Lender shaUtake lhe steps speCIfied in the!iCCond paragraph of
<br />paragraph 17.
<br />14. Notkell. Any nolll;e to Borrower provided for In IhlS Sccunty InMrumcnt shall be given by delivermg it <lr by
<br />mailinS it by first dus mail unless applicable law requires use of another method, The notk:e shall be directed to the
<br />Property AddrClili or any other address Borrower designates by notice 10 Lender. Any r"lll.:e to Lender M1a11 be given by
<br />first claSi nwltn lender's address staled herem or any mher addres. Lender Jesiglllllcs by nOllce 10 Borrower. 1\IlY notice
<br />provided for in thiS Se<.:urity Imlrument shall be deemed to have been glvcnlo Borrower <II Lender \\<hen j,\Iven a. provldaJ
<br />mthi. plIr1l81aph.
<br />15. f'.offlmiq Law; Se'efllbility. Thi. Security Instrumcnt shall be governed by ledend law and lhe law of Ihe
<br />jurisdiction in which the Property is localed. In the event that any pmvi'lOn <If clau,"", or lhls s.:curlty Instrument or the
<br />Note coollkts with applicable law. such conllict shall not affect olher PIO\'I'>1<>I1' or Ihls "",,'uri!y Instrument or the Note
<br />v.hkh Clln be gIven dfect withoutlhe conlli\:,illg pTtlVlsion, To thIS end the prmhl..ns of rh" See<<rn) Instrument alld the
<br />Note all: declared to be scvefllble
<br />16. Borrower's Copy. 8orrower shall be glvcn onc cont,'rllled '"PY "Ithe ~Il'<' ..nd of .hl' s.:"Uflt) In'trul1ll'nl
<br />17, T~ef nf the Property nr II Benefkilll Interest in Burro_cr. If all 01 any ran of lite I'mpcrty or IIn)
<br />interest in it is wid or lrllll.ferr(d (or if a beneficial intere'lllllk'rro"'n" sold "r !ranskrred lIlld Bmwwer is fltll a nalurul
<br />pcrl'>oll) without Lender's pnor wrillen consent, Lcnder may. ", 11\ opIum. leljlme IIllIllCdlllll' I'ilymenl in filII ,'I' all SUflls
<br />'ieCured by Ihis !lel;"rit)' Inslrument. Howcver. tltis opllOn shall not h.: c~cl"sed h) lender If exercIse 1\ I'wllIblled hy
<br />federllllll"" as of the dalc Ill' tltis Se<.:urity Instrument,
<br />If tender cJ\en:lses this oplton, Lender shall gi~ e BOffower nol KC of acecler allom, lit.: Ilot iI:<' shallpw\ldt' a per i.lll
<br />of nlltlC$l\ titan .'Oda)'s ffl)lIllhc: dale tlte IlUtlee i., delivered nr Illailed "lIhlll wh.d. Ill" r"'vu 11"1\11'1<\ all 'lilli' sl".....cII hv
<br />this Security. Inslrulm:nl. IfTlorrower fail, tn PllY thcse ',UIllS pn'" luthe eXI'.rllllllllllf II", PC!I,>d. Ll.'l"le, may IlIvol-l.' all)
<br />fl::mWIC1<pcrmi!h::db)' lhlsSeclifil) InSlrtltllellt wllllOUI futllte, notle':llrdclllamloli Bmrmn-r
<br />'8. Bof,owe,'JJ Rlaht 10 Reill5tllte. If !lor'ower tIIt'ds ,'enain wlldllioll'. flo".ll\Hr ,hall hil\\' lhl.' nllhl III ha\\'
<br />cnfnfl'cnwlIl "f,hl' '>l:eU!lly In'trlllllenl ,""Colltinucd al any Inm'pnor '" the e.u-Itt"! "f lal s day' 1111 'udl olhl'! pnu"J a'
<br />applic"blt la", ilia) 'l""t'lf) hll rCIII,liltemelll) before 'ale of the Prol'erty pursuant 10 all) 1'00\\'f of ..al.' <lllll.llllctlll. Ih"
<br />L Scum!) In,'rumen'; or Ihl <'illfY "I' a wdgmenl cnforelll~ rillS Sl'ultll) IIl,lnltll"1l1 n".,,, tOIl.li,,,,,,, all' thaI """"\\,.'1
<br />la) I'il)' Lende! "II SUI'" WI'llC!' then would he due ,,"Je, ,Ill' "'"".-it; Illslrlllll~1I1 .,"d Ih\' Noli' had ,,,, ,,<I. d",al'''"
<br />,x;cIIHHJ, Ihl >:me' C'"; deflll.11 "I' ""; ollwf cm\'lIall" "1 "g.-n'tII\'II ts, k) P"\'" ,lll '\'1'\'11"" IIKllnl'd III rllt"lulI~ 110"
<br />Sc,;u"1y 11I'.lfUI"',"I. 1I":i,,,ItIl~:, hul upl ',"lItnll". '<''''''11,,1111' iHtm"e)" fe,", cIIIII (Ill '''K\'' 'UL" "d"lll ", I I.' lid\' , Illil,\
<br />'e.!1~JHi4h\}o tt''1UlIt !It i1".,urt' lhut fht: 1tt"~n of lhI'" S('f..:unty IU"i'nlnh:l1t. 1.{"IHj~'t'... n~lu... Ifl !hL Ptnt1t'Il\' iJtHJ npn~l\\l'l\
<br />obhfitlll!!Url !Il I hI.' '.Ul1h ';.e-cufed hy thp.; Se\.'unty In....UWHtfll 'lhall l'I,\otIIHH' Hlh.haogcd 1','llll! rrll'\t.Ht'IlH'1I1 h~
<br />t~H!l)wt'r lhl'> n'11\ !n'.'nuu~n' iHHi Ihl.' obh~a1Iim~ '..l.'t:\Hl'd ':t:'n~h~' ...hall t{'lIlalH fully drct.'I\\T ,I"'!! 111' ,H.it'k'i1(1\lll hiH!
<br />'4,'."I.\f'I'tt tlp\", 1:\ !'l 'b... nlth1 to "(~'Hl!o.tJ,.l1l.'l;,h.tH nllt ;tppl_" In ttlr.:' (W,e rd'llu:dn,Jlll11j uflder IUf,q',f ;qdh ! \ ,)1 !'
<br />
<br />
<br />
<br />
<br />-1
<br />
|