|
�: ��� ��=-�—
<br /> .. -_ _-,
<br /> � �.�w�e��er�ws�
<br /> _. �.�:._-
<br /> . .,�e►�rM.,��►�...� _- .:._._ , - -_- ----
<br />._ . „��i1Rnw",..t . _ - - . . - � =�r..'r......,�.� �r° _ _..
<br /> � Borroww m�v cure such � dMaull and rwisiatu, os prov{ded i.� parapraph 16, by causlny tho actbn or procaediny to be
<br /> . diami+tsnl wilF��►uMtiy llwl.In LontLit's yood faith determinatian.practudes IoAMture of the �ortow�i s interest in the Property or
<br /> othw n�atw{a! wi�irnwnt o1 tho 1{wi croated hy lhis Secuniy Inslrumertt or Leader's ser.urity mteresf Bortawer ah�ll also be�n � _
<br /> dalault il Borrower, dwinp th�{oan applicatlon process, qave materulty 1also w inacuuale iniorm�liwi or stal�ients to Lender �a
<br /> failed to provldo Londor with any rr�twial Inlonnatlon) In connacUon with the ban ovide�ced by tha Nota. u�cluding, but nol
<br /> turiltod to. rpresontations conCeminp Bortowaf s octupancy ot the Property as a pnncipal rosWancQ. 11 thi� Socunty, �
<br /> InsWment ls on 4 (easehold. Bortower shaY compry wtth �U Ihe pravisions oi tho leasa 11 Borrowor �cyuKes !�u 4ilu tu U�v 4 -
<br /> ProFerty,the leasahold�nd t�a 1ee tiUe shaY not merfle untess Lendar�greas to tha merqer in writiny. �
<br /> 7. P�atoMian of I.andor's Rlghtc In thn RPa�erty. n aorrowe� tails to perform the covenAnls�nd a�fe�menle � _
<br /> coolainQd In thls Securiry I�slrument. or there l3 0 legal proceetlw�fl that may ctqnlfiCCantty aMect Lendor'; righic in the Property
<br /> (such as e proceedin¢in 6anktu�tcy,probate,t.�f condenutation or fortaitur�or to ontorce taws or regulatbns).then londer nwy
<br /> do and pay fw whatww Is nQCassa.y Io pro;ac! tho vstlue of the Property and Lond�r's righls In tho Proporty. Lendor's actions �
<br /> may mcluda paying nny sums ser.ured by a fien whlch has prlority ov� tnit Securiry lnstrument, appe�r'v�Q in couA. pa�x�p _
<br /> reasanabla+�ttotrays'Y�ec and ont�iny an tha't'ro,�xty to make repaks. AAhauyh Lender may taka aCtbn wo�x this p�.��rh
<br /> ?. L�der does naY have tu do so.
<br /> Faiy amounts disoursad by Lendw under pa�a�;aph T s 1�ut bxcome add'ttipnal debl ot Borrawe► secur�d Dy lhls Socunty
<br /> k�atrum�nt. Untess 8orti�ower and Lendar apree to other terms o5 payment, these amounts shaU bear tnterasl trom the date ol
<br /> disbursement at the Note rate and shaY be payxb{e,wkh Interest,upon noUce hom Lendw to Borroww rsquesUn4 paymenl.
<br /> 8. �Aort�s�� Inwranc�. H L�nd�r rpuk�d mortyage inw►ance as w condiUon of m�klny lh� Iwin socurad by thls
<br /> Sowrity I�strumsnt. Borrowar shall pay th�pr«r�luma requlrod to matntaln the mortp�ye Incurana In�Hect. If,for any raason, tha
<br /> mortyape hsunnco covor�y� nqulr�d hy Landu tapsas or ceases to Ea In �, Bartow�r shall pay the pr«tik+ms r�qukQd to
<br /> abtaMi covrag� wbstanSWy pulv�l�nt to tM mortq�qe inwnnc� prwlousN In Nt�ct, at a cott wbatanUaHy puNal�n1 to th�
<br /> cost to Barow�r o1 tM moRysy� inwdlnC� prwlouily in �f1�C1. itom �1 altMnaU nwA9ap�k►sunr approv�d by Lmd�r. II
<br /> wbstantlaYy �quNWnt matgsq� hc�u�nc�wveray�Is not �valkbl�. Bortoww shall pay ro L�dar�ach month a sum pwl to
<br /> on�twollth o1 th�Y�u1y matqay�hsurtnc�prwnium bNnq pald by Borrowr wh�n th�Insuranc� cowtaq�lapsed or c�asad to
<br /> b�in �Mat. L�nd�r wW�cupt, us��u:d nt�k� tha� payment� as a bss ns�rv�k►Ow of mort�aq� hsuranca. Lose ns�rve
<br /> paym�ntt rrwy no lon�t b�r�quk�d,�t ths optlon ot I.and«. H mortyaq� Inwrana covwaqe(h the amouM and for the pwbd
<br /> that Lwidw r�qulrw)provid�d by an Inwr�r �pprov�d by Lend�r �Saln bacom�s �vailabb and Ia obWnad. Borrower shall paY
<br /> th� pr�rtYums rpuk�d to mshWn mortyay�Inwnna in ettoct. or to provlde � bss resav�, until the r�qulrana►t tor mortyape
<br /> inwranu w►ds in accordanc�with any writt�n ayroament betwan Bortower and Under or appYcabl�law.
<br /> 9. Iltip�Ct10M. l�ndK or Rs aya►t m�y mak�res:o�aW��ntrbs upon and{nspacUo�s of the Rroperty. Lendx shaU ylve
<br /> Bortow�r notic��1 th�tlm�ot or prtor to an Inspeatbn spacitying naswiabk cause tor ihe i�spxtio+►.
<br /> 10. Co�d�mnatlon. Th�proaeds of 4ny�ward o► cliim for dart�ayes, dincl or con:�quential. in connoctio�with any
<br /> condemr►�tbn a otha S�kin� ot any paR ol tha Property. or ta convoyance In Yau of condwmaUon, are hereby assigned and
<br /> shaM�p�Id to Londer.
<br /> In th� �wnt ot a tWa! taklnfl ot th� Proparty, tha procaads shall be applied to the sums s�:w�d by this Security
<br /> InsVummR whethK or not than dua,wtlh �ny excess paid to Erorrowa�. In tT►�ava►t of� patti�!taklnQ oE 4Ao Prop�rty In whlch
<br /> ttH talr m�rkM vatw W tha Prop«ty 'rmwdat�r b�lors t!w t�kw�y Ls oqual W or yreatx thsn th�artwu�i ai the sums seaued
<br /> by tl�ts S�cwdy InsVUnwr►t irrWiWiatdy bMor� tihe taklny. unl�sa BorcowK and Lendr othawise ayroe 3.i wriSn9. th� suma
<br /> s+rcund by thts S�cwity InsUvm�ni shall b�n�c�d by the anaunt ot the procwde muWpW�d by th�idtow�ny iractlon: (a)th�
<br /> toW anaw�t of the surt►s s�u�d k�rn�diat�ly�,fx�tha tafa�g, divld�d by (b)the fak mutce!valu�of th�Prop�Ay irtn�dlatey
<br /> befor�ths taklny.My�nc�ah�d b�paid to 6orrower.In tM evsnt o1 a pIUWJ takhp of tha P►operty In wtdch th�fa'r iraAc�
<br /> vatu� W th� Prop�rty Nrwn�diatNy M�tor�tha t�:iig 4 I�ss than th�amount W ths wrtu secund Ntxn�s�ljt bNon tM Laking,
<br /> unlas Ba►owv and L�nd�r oth�wis� agr�e dn writiny or wiMss apptieai� law oth�wis�provid�e. R!►ia proce�ds shaY b�
<br /> _ . a,ppti�d to m�uans:satna oy tt��aamty�sasunnt wnanR ar nai vr.u,ms us man oa•.. - . .. _ _ .... __—:.. —
<br /> H the Propaty ts ab�ndw►�d by BoROw�r, o►it,att�r notice by Lendet to Borrowar thaL tAe condanna otlen to tn�ice an
<br /> award or s�td� a ckM for d�mty�s, Bortower tails to rsspw►d to LendK within 30 days a1Der the date the nodce is given.
<br /> Lendr Is authaiz�d W colbct �nd �pply th�p►ocwds.at iu optlon, either ta restoratlon or npair of tAe Property ot to th�
<br /> sums s�a+rwi by thls S�curi(y InsUUmmt.wAether or not then du�.
<br /> Untas Lander �r►d Borrow�r othwwks a�rre in writln9, any appUcatlon of proceeds to prinGpot sNall not �xt�nd or
<br /> postpane the du� date nf the monthty paynsert.*s�!ed to in peraytaphs 1 and 2 or ch�n�e the amou�t of such paynHr►ic.
<br /> 1 t. Borraw�r Not R�awd; Forb�nne�B�t L�ndar Not a Walv�r. Exanstor+ ot tho wns ta payrr�«�i or
<br /> �o�+lcation a�r,ortz.va, cs tn.sums s.wrea.by uiis secur�y Inswmw,t yrar►t.a cy�ana.r to ony u,ccassor in inurest ot
<br /> eortow�r sha11 not operate to reM�s�tlu 1'rbic� ot tha orfqin�Borcower or eorrowa's succsason In btera� lendw shall not
<br /> b� nquk�d to cornf�nca procM�inps a�si any successor in intarest w rNusa to wctand tirtw for payment or othe�wlse
<br /> modify�rta�tlsatlor� 01 thc surt►s s�au�d by t�is S�auity InsVum�nt by re�son o1 any danand mad�by tF►�oriyinal BorrowK w
<br /> Borrown's sucasson In intenst My f�xbarance by Le�du in exrclalny any riyht or remedy shaN not be a walvr of or
<br /> pr�duds th�axrcis�ot any rigtrt cx nrn�dy.
<br /> 12. Suac�ssors and Assiyns 8ound: Joint aod Sov�nl Usbllity; Co-signors. 7tw cova�w,cs and
<br /> , apnana�ts ot ihla Saxuiry Instrum�nt shaY Gad and b�nebt th�succeswrs and ass(qna of lander and Bortow�r,subjKZ to U�
<br /> provisbns of paragnph 17. Bortower'a co�rwnu uxi aflrsanrnts ahaU bs Jolnt�nd sweral. My Borrow�r who casigns this
<br /> � Seaui4y Insttw►wnt but doa� not�x�cuta th�h'o:a (a) is co-slyniny this S�curily MsUument oMy to moRga�a.g�ani and convay
<br /> t►ut earow�'s 4�tKest In the Property under the tams of this Sa<writy Mstrummt; (b) ia nW personaiy obigai�d to pay th�
<br /> surtfs sacur�d by thls S�curity InsVUment; and (c) ayrws that Lender and any other Bortower may agne to ext�nd modity.
<br /> � fobav or maks any accortwnod�tions with re�d to ths terms af tttls Seariry Instrurtwit u ttw Not�witlwut ttut BarowK's
<br /> cons�nt
<br /> 13. Loan ChstyYl. H ttw loan socax�ed by thla SeGUity k►strum�nt Ir wbJact to a law whicts siets rna�nun loon
<br /> charyes, and that I�w (s&ury int�cprated sa that the ht�r�si or othx la�n chu��s cdbcted or to ba conated in oonrtectlon
<br /> with th�(oan axcwd the pe�rnkted AmRS. th�n: (a)�ny sueh loan clwyo sh�Y b�roducad by th�anwiu�t nacassary to nduc�
<br /> iRQ Ch�QO t0 tF10 P�� �: Nd (b) N�/ iWNS �IfY�dy COM�CIKJ 1tW11 BOROWM WhICl1 fXCYWW p�6d WYtit9 WiY be
<br /> n(undrd to 8ortowr. L�ndv m�y choosa to m�ko tt►is ratund by r�duclnp th�piindpal owxl und�the Note or by makinp a
<br /> - c�na S'�Y�►�nl to 8errowr. H a nlw+d nducr prk�dpai, tlw r�uction wiY b� a�st�d as a P��� P�oWYment witlhout any
<br /> pnpayrnmt charp�und�r tfw Not�.
<br /> 14. NOHC�:.My notke to Bortower provldM fw In thls S�curity Instrument shal be ytven by ddiveriny it or by rrwiBny it
<br /> by frst dass mafl unl�ss applicable law rsqu'r�s usa o1 onathw m�thod. Th�notic�shall be dincted to the Propwty Addross
<br /> � or �ny oth�► �ddress Barowor d�slflnates by notla to Lendu. Any notico to L�ndu shaM b� qiven by Arst class nwil to
<br /> Lendw's addrsu sUtsd henin or any othar addross Londer desiyrwtea 6y notico to Borrawer. My noUce provldad tor in tF�ls
<br /> � S�uiry InaVument shaY ba derned to have been ylve�to Borrower or Lender whan giwn as provlded!n thls paragraph.
<br /> 15. Gov�rntn� Law; SOY6ri�b1llty. Thla Security Instrumer►t shall b� govemed by tadxal �aw and the law ot the
<br /> juriadlcUon in whlch the Property 1s bcated In tha eveni�that �ny provlslon a c{wse of thls S�auiry InsUument or the Note
<br /> conflicts with applicable bw. such conflict shal! not�ttoct other provulons o1 thls Sacurity tnsUur►�ent or the Note which can be `
<br /> gNen elfect without the contl�tting prov153on.To this ond the provisions ot thls Security Ins��.�ar..i itw Note ue doclared to
<br /> be swerabla.
<br /> 16. Borrowar's Copy.Borrowar sha1J ba yiven ona conformed copy ot the Note and o:this Se�.cSty tnswrr�rst.
<br /> F�316.LM0(3/96) Paqe 3 oi 5 ��7�rC— --i=—
<br /> D6151
<br />
|