|
� ,,....�.H.
<br /> . .. .
<br /> � . . -- __ - . _��. �__ ___
<br /> �1�pt+t!r4r?,-�'w'� � - -
<br /> substnntially syuivalent n�ortgagc insuruncc covcrugc iti n�it uvuilnblc,F3arrowcr nhuU pay to l.ender each nx�n[h u surn ey�iu0 to
<br /> i►ne•tweUth uf the ye�rly nx�rtgage insurunr.c prcmium Ixing�tld by F�orr�wer wlicn thc insurunrc covenige lapscd ur ccuscd to
<br /> hc in cffccl, I,c�tdcr will nrrcpt,utic a«d r��tuln Ihcsc pay��icuts uti n loss rc4crvc in licu of mo��tgngc insuroncc. L.u�s �r5crvc •
<br /> paynuntti may n+�lunµen c�rec�ulrcd,ot thc nptinn��f'l�cndcr, if murlgngc insurancc cuvcr�ig�(in Ihc�unnunt und fi�r�hc pericxl
<br /> tliat I.cndcr r.iEuir�sl Ejruvidrd by im in�urc:r�ql�lfllVCll Ily IAIlIICI'il!!ain Ixronus,rvailni�lr unil iti ul�tuiucil. lio�'rn�vcr shall pay
<br /> Q►c pr��nlumti r�i�uir�d!u uiai�unin mu�t�n�;c intiu���utrc�!u rlic�t.UI'(ll�l{'IWIIIC il IU45 Y�',l'IVC. uiztll Ih�:rcquir�mcnt ti,r mu�tbci,;r�
<br /> intiur,�ncc cnds ii►uccurduur�wUi�ta►y wriltcn ag<<cmcn�Intwcen qi�rr��wcr und I,�ndcr ar uppNruNlc law.
<br /> 31. In.K�xcd�H�. L�.i�lcr�,r it5 agc�at muy m;�kc rc;►�onuhlo cntrics u�xm�ind inspcctionr of�hc Pro�xrty. Lcndcr shull givq�
<br /> 13orruwrr iN�Ucc nt�hc dnx�oi'iu prior tu�►n iii�{xctlun s�ilyiag rcasc�nablc causc fur�hc inr�pectiun ��
<br /> IU. C��ndcnknuU�m, 'I'I�c pr�x:r.cds ol'uny awur�l or cl;�i�u for�lama�cr, dii•cci ur cunseyucntisd, in c�mnc.tiun tvith any
<br /> ccnxlemnatiun or othee tuk(ng ��F uny pan��f'ii�e Property, or te+r cnnveynnce in licu of r����lcnmutirni,ure hereby ussigneJ arx
<br /> shall hc pald�o I.cndcr.
<br /> In Ibc evcut of ii totul tuking oF the Pro{xrty,Ihe ps�cx:ccdti shaU bc applicd to the sums,ecured by this Sccuriry lnstcamenc
<br /> whether or n��t thcn due, wfth�my cxcess pdd to[iorrowrr, In tiie evcnt nf u pa�titd taking of the Pnipeny in wl�ich the fa'
<br /> markr.t viduc uf�hc Pro�xrty ii9micdi�ucly bcfc�ro thc tuking is cqual to ur grcatcr Il�nn �I�c umount of thc sums nccurcA hy Ihis
<br /> Sc�curiry Inctrunxnt imnx�fiutcly tx�furc thc�ukinb,unicss&�rrowcr wxi l.�:ixlcr othcnvisc ngrcc in writin�,the sum�sccured by
<br /> this Sc:curiry Insaument shail �e redurc�i by thc amount ��f the pr�xceds niultiplled hy the foUowing Gaction: (u)Qie totul
<br /> cuuowu of thc sums secured immedintcly Ucfore the tuking, dividcd by(b) Qie fnir market vnlue��f rftc 1'roperty immcdiately
<br /> befmc the t�king. Any balance shall lx p�id ta Qmrowcr. In the evcnt of a p:irtfal tukin�; of the Fropcny in witich the fuir
<br /> n�.�rket value uf the Propeny immcdiatcly l�rfi�re tGc toking is Icss�hun the anwunt of thc sums sccurcd innnedit�tely lscfom thc
<br /> tnking, untess k3�rrower iaxl Lencier oti�erwise ugree in wrlting or unless upplicahle law othenvisc provide.r•, the proceeds shall
<br /> be;�ppliod to the sumc secured by tliis Secu��ity lnstrunxnt whethcr ur n�t the sums are then due.
<br /> if t6e Property is aba»doneJ by I3orrawer,or iP, aRer noiire by Lencier tc�Hc�rrower that the cnndemnor offers to mAkc:u�
<br /> award or setde a claim fur damages, Barrow•�r fails tn respond to Lender within 30 days ufter tkc dnte the notice is given,
<br /> Lende�is authorital to oollect aixl apply the pra;eods,�t its aption, either to restoration or repair of the Property ar to the sums
<br /> secured by this Security lnstrumcnt,whether or not then due.
<br /> Unles.a I.ender Anc9 Eartnwer ntherwise ueree in writine. •rny appfication af proczods ta principal shall ttoY extend or
<br /> postpone the du�c date nf thc nwnthly paynxnts�ferred to in parngraphs 1 and 2 or change the amount uf such paymc:nts.
<br /> 11.Burrower Not Releasrd;Forbewrance By I.entkr Not a!'Vatver.Extcnsion of the tin�c for puyment or n�odification
<br /> of amartization of the suins�ecureci by this Security Instrument grantal by Lr.nder to any successor in interest of'Bon•c�wer shall
<br /> nut operate to release the liability uf the ariginal Borrower�r Barrower's successc�rs ir�interest. Lcndcr shull not be requin�to
<br /> canmence prabedings agAinst anv succes.cor in intcrest or rci'use to extcnd tinx far p�yn�ens or otherwise modii'p amortization
<br /> of the sums secured by this Security Instrument by reasan of any detnuixl nu►de by the origina! �onower or Barrower's
<br /> successors in intercst. Any forbe<�mnee hy [�eixler in exarcising any right or remaly shall not be a waiver of or prcelude tt�e
<br /> exercise of nny right or rcmedy.
<br /> 1�2. Suarssors And Asslgns Hound; Joint And Seveml Llwbility; Co-slgners. The covenants and agraments oi this
<br /> Security Instrument shall bind and benefit the succr,ssors end assigns of Lender and Borrower, subject to the pravisions a+F
<br /> paragraph 17. Borrow•er's covenants and ugrecments shalt be joint and severaE. Any Borrower whu ca-signs tttis Socu�ity
<br /> Instrumcnt but dces not execute thc Note: (a) is casigning this S�curity Instrutmnt only to mortgage, grant and convey that
<br /> Rnrmwer'c i�terest in the,.Pmnerty onder the temtc of this Security Iact�ument:(b1 is not pelsonally obliettted to paV thC suiri�
<br /> securcd by this Security Instrument;and(c)agrees that Lender and any other Borrower may agree to extend,modify, fortMar or
<br /> mak�any accomnwd�tIons with regard to the tercns of this Security instrument or the Nate without thut Aonower's coiuent.
<br /> 13.I.o��n C1�1�►ges.If the loa�i secured by ttus S�xurity Instnin�ent is subjxt to a law which sets uiaximum los►n charg�s,
<br /> and that law is finul[y interpreted so that the i��terest or other loan chargcs cnllected or to be collected'�in connoction with the
<br /> loan excedd the permitted limits,then: (a)any such toan tharge shall bc reduced by the amount necessary to reduce the charge
<br /> to the pertnitted limit:and(b)any sums already collectod from Bonower which exceeded pemvtted limits will be refundal to
<br /> Borrower. I.ender tn�y choose to make this refutxl by reducing the �rinapal owed uncler the Note ar by making a direct
<br /> paymeni to Sorrower. If a rcfund reduces principal, tho teduction will be trcatod as a partial prepaymtnt without any
<br /> pre�wyment charge under the Note.
<br /> 14.Nlotias.Any naice to Horrower providul for in this Sa:urity Instrument shall bc givr.n by d�livcring it a►•by rnailing
<br /> it by fitst class mail unless applicablc law requires use of another cneU�al. The notice shall be direc[ed to thc Property Address
<br /> or any.othe� address F3omower designates by �wtice to [.ender. Any natice to L.ender shall be given by first class mail to
<br /> Lendet's address statad herein or any other atidress Lender designates by noticr.to E3orrower. Any noucc providod for in this
<br /> Security Jnstrumerit shall be dumod to have been given to Borrowcr or Lendcr when given as provided in this parugraph
<br /> : 1S.Govcrning Iatw; Stvernbility. Thls Security Instrument shall be govemed by federal I�w ttnd the tew of the
<br /> jurisdictlon in which the Property is locatsd. In ihe event thac any provision or cluuse of this Saurity;iTnstrument or the Nae
<br /> confldcts�with applicable law, such conflict shall not nffcet other provisians of this Sa:uriry Insnument qr the Note wl�ich c�n be
<br /> - given;�fFect without the conflicting provision. To this end the provisions of this Sexut'ity Iqstrument and the Notis;►�'�declarod
<br /> to be severable. • •
<br /> 16.13orrow��'9 Copy.Borrower shall be given one confonned copy of thc Mote-tax}:of thi9 5ec�lrity[nstn�ment.
<br /> 17.TramYer ot the Property or a Bcne!'jcJAl[ntirest in Borrower.If all or ahy:part of the��trn�atty or any interest in it
<br /> is sold or transferred(or If a beneficial interest in Borrower is sold or transfercecl and�iorEotiJer is nof A natural person)without
<br /> ,� L.ender's priar w�itten conset�t, L.ender may, at its option, require immediate payment,i� full of all sums securat by this
<br /> Secytrity tnstrunxnt.However,tbis option shall nut be exercised by Lender if exeacise i5�iohibited by feder�l Ir�w as of the date
<br /> � of lhis Securiry Ins�niment. .
<br /> � If l.e�vier exercises this optlon,I.ender shall give Borrower aotice of aceeleration. The notice sha11 provide a peaaf of not
<br /> �i; � iess than 3U days'fmce� the date the notice is clelivered or mailat wiRhin which Borrower must pxy ril� sums secured by this
<br /> ! Security Instrument.If Borrower fails to pay thcse sums prior to the expiration of this period,Lender r,�y invokc any rcmcdies
<br /> permitted by thi�Secarity Instrument without funher notice or dema�xl on Burrower.
<br /> I8. Borrower's Iilght to iteinstate. If Borrowcr mcets certain conditions, Bun•ower shall hnve the right to have
<br /> , enforcement of this Security Instrument discontinuod at any time prior to the earlieti• of: (a) 5 days(or such other pc:riod as
<br /> applicxible law m.�y specify far reinstatement) bc;fore salc of the Propc:rty pursuant to any power of sale contained in traas
<br /> Security Instrument:or(b)entry of a judgn�ent cnforcing this Sccurity Instn�ment. 'Iliose conditions aro that Borrawer:(a)pa�s.
<br /> : [.ender ali sums which then would be due under this Sesurity Instrument and th� Idote a�if no racceleration had occurc�xl;(b)'�
<br /> + cures any default of any otl�;.r covetu►nts or agreements; (c)pays all eapenses inc;;n.^rd an enforcing this Security Ynstcun�:nt,
<br /> including, but not limitod to, reasunable attorne�ys' fees;and(d)t3lces such actia�.as tl;a�:l:s may masonubly rcx�s�re to assure
<br /> � tt�at the lien of this Socurity i��strument. Lcrx!tr s cights in tl�e Propeny and Easroa�r'r;utiiga!ix c:��y the sums socured 8ry
<br /> this Security instrumec�t shall c�s�tinue uncl�;�ngod Ulwn neinstatcnTe.r_t i�y �csr�r�vr.r, t1:L; �neuaty Instn�ment and the ,
<br /> ' obligations securcd hereby shali n.main fully effec4ive as if no accclerasioc�I^;��.,xssr�J.Howe��.r, rhis right to reinstate shal� ••�
<br /> " _"'__�"2_.L'__"'C____�_..__"'_�_��_��L �•! �
<br /> , uvt a( n�n�urc wac vi au.c�cwuv+�vuuci Fsaiag�a}m �.. •
<br /> �9. Sale of Note; �Change ot Loan Servicer. The Note or a pculiaT i.r,�c���.� ee the Note (together with t�is Sccurity ;
<br /> Instrumcnt)may be sold one or mo�r times without prior notice to�naw�;;. fi�.'L•r-,;�.y result in a change in the entity(known "
<br /> a�the"I,oan Servicer")that collects montf►ly pa�yments due under the��te�eid this Secnrity(nstrument.There also may be one ..,
<br /> . er maro changcs of the Loan Servicer unrcfatcd to a sulc of thc Note.fC tlu�re is a change af the[.nan Scrviccr.Borrowtr will bc
<br /> given writtcn ttntirc oF tlic rhangc in arcordaricc wi¢h paragraph l4 abo��c:uid appli�blc Izw.'Thc►wticc will atatc tf�c naitiic and
<br /> address of thc�tew Loan 5crvicer and the addmss to which payn�ents shoutd be made. The notice will also contain any othcr
<br /> inforniatlon reqaircd by upplicablc luw.
<br /> 20. Hazardous SubslamYS. Borrowcr shall rwt causc or permit thc prcscnce, usc, disposal, storagc, or rcicasc of any
<br /> Hazaaluus Substances on or ii� tlic Property. Horrower shall not do, nor allow anyone elsc to do, alrything affating the
<br /> PropeRy that is in violation of any �nviromixntal Law. The prccading twu eentence.g shall not apply to the presence, use, or
<br /> storagc on the Property uf small yuantities of Ha�rdaus Sub.r•�ances that ure gcnerally remgnized to be uppropriuec lo norn�l
<br /> residential uses and tu maintenance of the Propcny.
<br /> Dpe J n14 FOtT 3�28 0/90
<br />
|