|
<br />I
<br />
<br />r
<br />
<br />84 -006144
<br />
<br />If Lender required mortgage insurance as a condilion of making the loan secured by this Security Instrument.
<br />Born.1\\'er shaH pay the premiums required to maintain the insurance in effect until such time as the requireJ"'iient for the
<br />insurance lem,inates in accordance wilh Borrower's and Lender's wriUen agreement or applicable law,
<br />8. Inspection. Lender or its agenl may make reasonable entries upon and inspections of the Property, Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying re.asonable cause forthe inspection,
<br />9, CAmdemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender,
<br />In the event of a totai taking of the Propeny. the Pj()Ceeds shaH be applied to the sums secured by this security
<br />Instrument, whether or nOl then due, with any excess paId 10 Borrower, In the event ofa partial taking of the Propeny,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by Ihis Security Instrument shall be reduced by
<br />the amount of the proceL'ds multiphed by the following fraction: (a) Ihe total amount of Ihe sums secured immediately
<br />before the taking. divided by (b) the fair market value of the Property immediately before the laking, Any balance shall be
<br />paId tn Borrower,
<br />If the Property is abandoned by Borrower. or if, after notice by Lender 10 Borrower Ihat 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 coilect and apply the proceeds, al tts oplion, eIther to resloration or repair of the Property or
<br />to the sums secured bv this Seeurit\' Instrument. whether or not Ihe' c",;,
<br />Unless Lende~ and Borrower otherwise agree in wming "~'" '~H)h.;alion of pr' y,:lds to principal shall not extend or
<br />postpone the due date of the mOlllhlc payments ref:;pred w ,,' "rngr"phz: and 2 or change the amount of such payments,
<br />to, Borrower ~ot Released; Forbearance By Lenller Not a Waiver. Extension of the time for payment or
<br />modificallon of amomzution of the sums secured by this Security Instrument granted by Lender 10 any s~ccessor in
<br />inter~t of Burrower ~haH not (l1-lt:ratl: to rdca~c the iiabihty of the original Borrower or Borrower7s successors in-interest..
<br />Lender shall !lol be reqUIred to ,commence proceedings against any successor in interest or refuse to extend time for
<br />paymelll or otherwIse modify amomzatl()n of the sums secured by this Security Inslrument by reason of any demand made
<br />by the original Borrower or Borrower's successors m interest, Any forbearance by Lender in exercising any right or remedy
<br />'onil not he a WatVer of or preclude Ihe exercIse of any nght or remedy, '
<br />11, Successors and Assigns Bound; Joint and Senral Liability; Co-signers. The covenants and agreements of
<br />this Secunty Instrument shall bind and benefit the succes.'ol' and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17, Borrower's covenants and agreements shall be joinl and several. Any Borrower who co-signs this Security
<br />Instrument but doe;. not e,'''''ute the Note: ta) IS co,slgning th.s Secunly Instrument only to mortgage. grant and convey
<br />that Borrower's Interesllll the Propert\' under the term, of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by .his Secumy Im!rument; and (cl agrees that Lender lInd any other Borrower may agree-to extend.
<br />modify, forbe.lr or make any "CCOmllH)datlOns wnn regard to the terms of !hlS Security lnstrumenl or the Note without
<br />that Borrower's consent
<br />12. Lou CbargelS. If the Ie",n secured by thIS Securny Instrumenl is subjecl to a law which sets maximum loan
<br />charges, and that law " finally Interpreted so that the Interest or OIlier loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the pennlll.,Q limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits \Viii be refunded to Borrower Lender may chex"", to make this refund by reducing the principal owed
<br />under the Note or by making a dm,ct payment to Borrower, If a refund reduces principal, Ihe reduction will be lreated as a
<br />partial prepayment wlIhou. any prepayment charge under the Note,
<br />13. Legislation Affecting Lender's RIghts. If enactment or expirauon of applicable laws has Ihe effect of
<br />rendermg any Pf(hhiOn of the ;\ote or thi"" Set.:unty Instrument unenforceable according to its terms. Lender. at its option.
<br />may require Ilnmed.ate payment m fuil of all sums "'"ured by thIS Security Instrument and may invoke any remedies
<br />pemlllted hy paragraph i'l If Lender exerCIses tillS oplion, Lender shall take the steps specified in the second paragraph of
<br />paragraph if
<br />14. ~otice.t>. Any IHJtlce [(> Borrower proVIded for III tiltS Sc<:unty Instrument shall be given by delivering it or by
<br />rlllllltng it by first das, mall unles, applicable la\\ requIres use of another method, The notice shall be direcled to the
<br />Property Addres" or an) other addr""" Borrower des.gnates by nOlice to Lender, An) notice 10 Lender shall be given by
<br />lirst da!iS mail to Lender', addr""", stated herelll or any other address Lender designates by nOllee to Horrower. Any notice
<br />provided for 10 thIS Securny Instrument shaH be deemed to have been gIven to Borrower or Lender when given as provided
<br />In this paragraph,
<br />15, Go'erning La...; Se.enbllity, fh.s Secunry Instrument shaH be governed by federal law and Ihe law of the
<br />.IUnsdlCtlOll III wh.ch the Property IS located In the event that any proVIsion or dause of thIS SecurilY Irmrurnent or the
<br />~Ole l".~onthch with applicable Jaw, 'iuch conlhct :-;.han nO! .at!ect other pn)\'lslOns o! thIS :';ecunty instrument or the Note
<br />whleh call be gIven cff",,~ wllhout the conf!lcling prOVISIon, To this end the proVISIons of th.s Sc<:urity Instrument and the
<br />Sate are dedared to be ,""verable,
<br />
<br />16. BuriG""'~.~t;. CupJ. Bi')iTower s.haH f"J(" gn-cil one I.."onformed copy of the ~~nte and of thi;; Security Instrument
<br />17, TransEer of the Prop.;rty or ll. Beneficial Interest in Borro\\cr, If all or any pan of the Property or .IllY
<br />InteH..-~I In it l~wld or {r~Hsferred Ulf Ira be:ndi~ta~ interesllil Borruwcr IS sold O[ lran~ferred ,and Borrower Ii} not a nalUral
<br />pe-rwn-.1 WHhout Lender\ pnor ",",finen Cl.'tts~nt. Lender may. at ItS optIOn. reqUIre immediate payment in fuB of all sums
<br />x"Cured by this. Sa:unty Instrument. However. Ihi!ilo npoon ..hall nnt be exerCIsed by Lendt~r If exercise IS prohibited by
<br />federal ii1w 3.." of the date of thiS Se-.;:uritv Instrument.
<br />If Lender ext;r..:ise:~ t.nl!J \.Fpuon, i."C'ndef shaH gt....c Borruwer notke of ac.t:elerution. The nOllC-t s.haH provide a period
<br />of no~ i~ ihal1 30 day,-,- fn.J.Ol the uate lhe nOllce IS ue-ll\:crcu OJ (HaIled \\iihin whil..-h Borr"ll'A'C'{ t)lu~t pay ail :-:ulrb ~l.'"LU!CU by
<br />tlu-\,> $.e;v.rit], In$lrum~t If &rr()\\iff hids fo pay th~ ~\.uns pn\)f In rhe e:~rtratfl)ll t)f th!~ period. Lender HH'l.}' In\-'t:1ke any
<br />fi.;n~e(bes ~.rnl!ued b)' ttw~ $et:Uflty lru.trum,ent \l;-ithou[ furthei notH.:l' Of demand on BOffUYi c:r
<br />1S. Ik;..-.v"-cf~i Ript to RumsUitc-. If &:rri'\)w~-r incct:\ ;,;er:am ..'-cmd~timl~, B-orrn\\-cr "hail h;,~ve the right !n hllVt
<br />eniO((-t'ltJ-(:Ilit uf dUit SttUfH} InMrument dtSi..:unHnuetl al any time pnf1f tn ttlt,'" c';'irlier \lj'- (a) 5 days (or :'J.ui.:h l1ther period 3~
<br />a-pphcab-!e faw tna) ~pcc-:!fy rur r~lU:!!tli!CmeIH) bd(}re ~1.le of [he Prop-crt) p\lr~UarH to- ailY r)t)\\,er nf ~~!k {.'ll!1!amo:d in thl,'>
<br />~unty I~T....U\H!1-Cl11, nr lb~ t"tHry of a JuJE-nH~nl enf~JiCini tin~ ~(-urH) In~HumenL Thft\C l'{l,ndlll.(ln~ art," that Borrower
<br />(>ii pa):\ Lcndl;( aU ~um:\ \\lH.o:;.h then would be dUt:": under Ir\1~ Seicunt\' In:<;,lrurnent and the ~.,H' had fl{' a,,:,-'derat)oH
<br />~}t.;fi:,urred. fb; I.'ur~ an) default of ;tn} oj,h~r \..\J\-cnanH..m agtc:emenh;" tc) ra}-~ aU e\txm'-t~ mcurn..'t.! 111 l~nfon,:lng tlu:.
<br />Sa;.:uriJ)' l~l$Jr\im~n!. Hh.:h..h..hn!1~ hut fH,ll: htlHtt'd to, rea~nablC' ~litorneJ-< fc('\, .dnd ~J} L:lkt""o ~ui;h actlOTl a~ 1,(,Hi.kr nlay
<br />r(:aM.)~tatlh ft\{UH't ~j.] i1,\J,Uf{ 'it<...al fhe hen ("If ~hH, S.~L:U-rHJ In\HUlnenc Ll?ndn\_ fl_Rhh in !he Prtrren~- (-Hid fklt-ro\\er'...
<br />t:rn-Ijillhlft hj P'Il) ~h~ ...t.im~~ ,>-~:..:urt;.'\1 by d1l'~_ ~\.;"unt\- in--;,.tnHHcHt '..,hdH \.Ol1tmuf tHK_h.i.ngt:d t'pnn 1','\ii"t;Jli'HieH! h\
<br />tX)fh:I'v..'.e-J, ~tn'i; ~,,;;.HH~ in....!runw-rH: ~dld the-, dbhf!4t!Hn~ >;-i;,'<..'UH.'{.! ..h-fiH r,;'!It.:HH Lltl\" t,'fTt"t p\t: it"- d n_!' ;~, '_'(':~T;:~th'n h.;-vj
<br />!l\...:c.;Jil '?~1 HO~t,,,&,,f. !11~!~ fighl (i, rnn\~e.i~e '>baH not .apph ig ttw;;, ;~w t!;,.,k: r'.;':!'j'i.<jlLtpk, !
<br />
|