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<br /> �� . donowar mriy curo such c► dofauit and relnstate. as provided In psreqreph 1B. dy causfng tho ac4lon ar proceed!ng to bo ��,�i
<br /> dt�misced with o ruunfl thal, in Lender's Aood falih deteii��f�uilan,p�eclud�slo:lc:ture ot the Bonower'S iroerost In tho P►operty or ���' ".
<br /> ` othcr mnicrinl Impalrment o} Iho Ilen created by thls Securiry Inslrument or Lender's seaurity Interost. Borrower shall also bo in
<br /> f clr.laull II 0orrowor, durin��ho loan applicatlon procesa, pGVa mnterinlly falso or inaccurato inlonnatlon or stntementc to Lcnder(or
<br /> f fnileA to provido Ltncler wlth any matcdal Inlormatlon) !n connection wilh Iho la��n evldencod by Iho Noto. including, but nat _
<br /> � Ifmlled lu, represento�lons concerninp Qorrower'9 accupancy o1 Iho Property as o pdncipel rQSldenco. If thls Security
<br /> ---- tnmrument is on a IeaseholJ. Su�iu.vcr sh�fl cor�tpfy r:ilh �N the ptov�sinng ni the Inasu. II Bortower ncqulros fa� title to lhe _
<br /> Prope�ty,the leasehold and tho (ee title sl�all not mcr{�o unloss Lender agrces to Ihe merger In wnting. •
<br /> • 7. Prot�ctlon �f Londer's Rlghts (Il th� P�opoPty. II Bortower inils to perlorm Iho covannnts and uc�recmentn�
<br /> contulned In thls Security Insirument. or Ihere Is d 4epal proceeding that mey slgniilcantly eflect lender's rl4hte In tho Property
<br /> (;:uch as n pracecdinq In hnnkruplcy. probato, lor conden�natlon or lorielture ar lo entorca Inws or ro�ulntions),Ihon Lender may
<br /> ,�,,;��;�• do and pay br whatever Is nocessery lo protect ihe veluo 01 the Properiy end Lendor's ri�ht3 In iho Property. Lencier's sctio+is� :
<br /> may includo payln4 any sums securod by e Ilen whlch has prlorlry over tF�{s Secudty Instrumenl appenring fn couA, paylny
<br /> ��;,,�. reasoneblo ettorneys' teos and ente�lnq on the Property to malce repalrs. Nlhough Lender msy teko acllon under this parngraph �
<br /> w„q„�,,:;,aq�► 7, Lender does not have to do so. �
<br /> Any omounts disbursed by Lender undor paragraph 7 ehail become e@dilional debt ot Borrower secu�nd by thls Sacurity '�
<br /> Inoirument. Unle3s Borrower and Lender agreo to other terms of paymem,tt�ese amounts shell bear Intoroat Irom tho dato af },.
<br /> . • disbursemont nt thu Noto rete end shall be pnyabto,with Interest,upon no�ce irom Lender to Bortower requestlnp payment. _
<br /> � g. Mortgags Insunn�e. It Lender requlred modgage fnsurance ss e candition of making the loen secured by this _ _
<br /> SocuNry Instrument, Eiorrower she�pay the premiums requlred to mAlntain Iho mortgage insurenee In eHect. H, tor nny reason,the -
<br /> �' mortga�o insurance coverage requlred by Lender lapses or ceases to be h ettect, Bortower shc+ll pay the premi�u�is requlred to �"�'�
<br /> „ -�' obtatn coverago substantlaliy equNalent to tho moRgac�e Insurance prevtousy In �ffect, at a cost substentialiy equivatent to tho .sy;:_
<br /> cost to Ban'ower o1 the mortgago fnsurance prevlousty fn ettect, trom an altemate morigege Insurer epproved by Lender. 14 "'`�:,
<br />� . � su6stantially equlvateni moRgage NsuBnce coverage is not evallsble,Bortower shall pay to Lender each month a sum equal to �'_:�
<br /> one-iweifth of the yearry modgage In3uranca pramium 6eing pald by 8orrower nhe�the Insuranee coverego IaPoed or ceased to
<br /> be In eflect. Lendee wlll eccept,use end ro[ain lhese payments as a lass rescrve In Ileu ol mort�a�e Insurance. Loss roserve ��
<br /> • � payments mey no langer be requlred, et the option ot Lender, if moAgage insurenca coverage (in the amount end for the perlod �._;,_
<br /> , that Lender requires) provlded by an Insurer epproved by Le�der agatn 6ecomes avaflable and Is oDtalned. Borrower shall pay �`_
<br /> the premiums required to maintaln mortgage insurancn In e{Icct, o�� lo NrorlJe a loss reservo, unlil the requiremcnt tor mortgsge
<br /> �' """� insurance ends in accordance with any written agreement beriveen BoROwer and Lender or appticable Ivw. �.��� .
<br /> '`. 9. 1118p8Ct1011. Lender or Its ngent may make reasonable entdes upon and inspectfons of the Property. Lendar shall plve �
<br /> r=� . :,, �. Bortower notice et the tlme of or prtor to an inspection spedtying reasona6lo ceuse for the incpectlon. _.-�
<br /> 10. Condemnation. Tho proceods o1 any award or claM for damages, direct or consequentiai, In connection with eny ___
<br />°" "" , condemnation or other taking o1 eny paR o} the Property,or tor conveyanc� in Ileu of condemneUon, ere hereby assigned and _
<br /> shall be pald to Londtt. �---
<br /> � In the event of e totel taWnq of ihe Property, ihe proceeds sheG be nppllad to the sums secured by this Secu�ity
<br /> ,,�'. .7, Instrument, whether or not then due, with any excess pald to Borrower. h the event oi a paRisl tak(ng of the Property In whlch
<br /> the(alr market veluo at the Property immediately bofore the teking Is equal to or greater than the aenount o1 the sums secured
<br />��''�' �� "s� by this Security Instrument Immedistely betore the taking, unless Bo►rower and iendar oineawi5o ay�� ��. �::rtt8� �¢� %s�'�
<br />�-="=�R„''�. � secured by thls Security Inswment shall be reduced by the amoiant of the proceeds muitlplied by the followfng frection: (a)the
<br /> �� � totel amount o} the sums secured immediateiy betore the taking, di�ded by (b)the tair mArke't value o}the Property Immediatety
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<br /> _=r�Y;!�:, before tha taking.Any balance shatl be paid to Bortower. In tho event ot a partlal taking af the Property In whlch the ialr markot _
<br /> ,�:h�,�;:�� velue ot tho Property Immediatety betore the tnking Is less than the amaunl af the sums secured immectlately before the taking, —
<br /> �'{•"��•� unless Borrower and Lender otherwlse agree In writing or unless appficaCde law otfiervvlse provides, the proceeds shall be
<br /> __�,+�i'�.
<br /> _,-�,;�� applied to the sums secured by thls Securtry Instntment whether or not the�ums are then due.
<br />,.:.�;.� If tho Properry is ebendonad by Borrower, or if, atter notice by Lender to Bortower that the condemnor ofters to make an
<br /> �;:,��y.�$ award or settle e cluim for damages. Borrower tails to respono7 to Lender within 30 duys atter the date the notico Is gNeri,
<br />_..A;_,�____,� Lender Is authotized to callect end epply tho proceeds, et Its option, eNher to restoration or repafr o1 the Property or to tho
<br /> _ — sums secured by this Securiry Instrument, whether or not lhen due.
<br /> -�--���,�r� Untess Lendor and 8orrower othawice agree In wdUng, any appGccatlon ot proceeds to pflnclpal shall not extend or
<br /> """"`��'� postpone the duo date oi the monthry payments reterred to In paragraphs 1 and 2 or change the amount oi such payments.
<br /> ___,��.„.�� 11. Borrower Not Released; Forbe�ranco By L.ender Not a Watver.Extenslon ot the time tor payment or
<br /> .�;_:;b'�� modiTicatlon of amortization oi the sums secured by thls Securiry Instrument grnnted by Lend�r to eny successor In Interes!oi
<br /> �� Borrewer shall �iot ope�ate to release lhe Ilabifity of the odginal Bortower or Borrower s successora (n Interest. Lender shNl not
<br /> �� - be r2quired to commence proceedfngs agalnst eny succnssor in Interest or retuse to extend time for payment or othenvise
<br /> — - modity arnortizatlon ot ihe sums seeured by ihis Security Instrument by reaso�oi any demand made by tho original Borrov+e►or
<br /> — --— BoRO�ver's succvssors In Nterest. Any (orbearanco by lender In oxerdsing any dght or remedy shaff not te a waNer ot or
<br />____- `°� prectude the Axercise of any right or remedy,
<br /> 12. Suacesaore und Assigna Bound; Jotnt and Several Llability; Co�algnsrs. The covenants and
<br /> —� agreements oi this Secur(ty Instmme�t sheli bind and benefit tho successors and asslgns of Lender and Borrower. subJect to the
<br /> provislons of parngraph 17. Bortower's covenants and agreements�ha0 b� Jolnt and soveral. My 8orscwar who co•signs this
<br /> ' °� Secudry Instrument but does not exe�ute the Noto: (n) is coalgMng this Securlty instrument ony to mo:tfla�e.grant and convey
<br /> �M-�� that BoROwer s Interest Ui tho Property under the 4erms of this Secur7ty Instnimenk (b) is not personally obltgated to pay the
<br /> ..-.,,o;;,;-;:,�� sums securea by this Secu►ity Instrument; and (a) agrees that Lenda•and any other 6orr.ower may egree to extend, modify,
<br /> --- ���L�� fotbear or make any accommodntions with regard to the teRns of this 5ecudly Inotrument or the Note without thet Bomower's
<br /> _°`;';T� consent.
<br /> ° 13. Loan C�argea. 11 the loan secured by this Sec�rity InsWement Is subJect to a law which sets maximum loan
<br /> �"`."'•;� charges, and that iaw Is fmatly Interpreted so that the interest or other ba�charges coilected or to be collected In connectlon -
<br /> . : y;'f with the loan exceed the permitted Iimits, then: (a) any such loan churge shall be reduced by the amount necessary to reduce _.
<br /> ' " the chargo to the permided I'unit; end (b)any sums eUeady couected from Borrower whtch excoedod permitted Iimits wili be __
<br /> �',��'3i��i re°.unded to Borrower. Lender may choose to make thts refund by reducing the pdncipal owed under the Note or by making o �=_-
<br /> ���:`c'1 r��.'�� ' direct peyment to Bortower. Ii a refund reduces pdnclpal, tha reducibn wlil ba treated as e partfal prepayment without any ;�.
<br /> _=--�'``.�•:`.':,` - prepayment charge under the Note. �r ''
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<br /> � 14. Notiees. Any notice to 8orrower providod tor N thls Sacurity Ins'lrument shail be given by delivedng tt or by matling it �.n••
<br /> _ '�,�,����f�/' by ftrst class mall unloss epplicabto law requlres use oi enotnor method. �fhe nottce shail �Oe directed to the Property Addres3 =-
<br /> `" �'i�• or any other address Bortower deslgnates by notico to Lender. Any notice to Lenc7�r�tr�flll be given by first ciass mafl to ��''°
<br /> ``'.•=�r}�---- -=�� id,.�.•� nddrass smted her�in or anv other address Lender designates by notice to Bortonrer. Any notico provided for In thls
<br /> C.,R_
<br /> 'r' i• Securiry Ins[rument shail bo deemed to have been given to Borrower or lenaler when given as provideu in thts paragmpn. -
<br /> � '� ' 16. Governing Law; Sev�rebtlity. This Security Instrumenl shaA be govemed by federel law and tho Iaw o1 tho
<br /> • ' �udsdictlon In whtch the Property �s located. In the event thet any prorlsion or clnuse ot this Secudty Instrument or the Note
<br /> � conllicts with applicablo Inw, such con0ict shnll not nitect other provislons at this Securfty Instrument or the Note which can be
<br /> gNen eit�ct wtt�out the confllcCmg provislon.To 1hls end iho provislons of this Security Instrument and tho Note dre doclared to
<br /> be severablo. ''
<br /> J � 16. Barrawer's Copy.Borcower shatl be glven one confoimed copy of the Note and o1 this Security Instrument. ,�.
<br /> F1316.LMC3 13Au) pagc 3 0�S �C��
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