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<br /> �, , , BoROwer may cure such a defauti and reinstate, as provided in paragraph tB, by causing the actiort or proceeding to be -�-�'�''� `'�' - � ,-
<br /> �*- =r=_.'-=--_,_
<br /> msmissed with a ruGng thaL in Lsnder's good faith determination.preciudes foAeiture oi the Banower's iriternst in the Properry or � ' . --
<br /> � other material impairment o7 the Ilen aeated by this Secunty InsVument or Lender's security mterest Bortawer shail also be m ` _-...
<br />' � deFaulE M BoROwer.dunng tt�e ioan applica?ion process.gavo matenally ialse or maccurate inforenaUon or statements ta Lender lor � ,,� �: � `�
<br /> �ailed to provfde Lender wiih any matertal iniortnation) in connec0on with the toan evidenced by the Nole. muuding. but not � . : , � ` .-
<br /> timited to. representatians concaming Borrawer's oceupancy ot the Property es a principal residence. u th�s 8ecunty � �� 4 � <• � .
<br /> Irtstrument is on a leasehotd Botrower shall compty with all the provisions of the lease. If 8orrower acquves tee title to the << , . ��" �
<br />, Property,the leasehofd and thb tee tiUe shafl not merge unless Lender agrees to the merger in.vnting. ' -��.
<br /> 7. Pr638Ct10l1 a9 Lender's Rights in tha Praperty.if 8orrower fails to pertorm tho covenants and agreesnenta � , ' �:_
<br /> � contained in this Security Instrument. or there is a legal proceeding 4hat may signillrantty aftect Lender's rights in the Property � ' �
<br /> `t,''� (sueh es a proceeding in banimtptcy.probate. tor condemnation or farlei!ure or ta entorce Iaws or regWauons), then Lender may � : ,. ; ; ,. � `• -
<br /> � do and pay for what�ver is necessary to protect the value ot the Properry and Lender's rights in the Praperry Lender's actians .1� �� --
<br /> '# may indude pay:ng any sums secured by a lien which has pdority over th�s Security insUument, appeanng in court. papng �° , `.
<br /> reasonable attomeys' fees and entenng on the P►opeRy to make repairs.Atthough Lender may take action under th�s paragraph �
<br /> '''� 7. Lender does not have to do so. � ' ' ---
<br /> �:`.; Any amounts disbursed by Lender under paragraph 7 sha11 become additional deDt of 8orrovrer secured by th�s Secu�y - ..---------
<br /> : I Instrument. Unless Bortowe� artd Lender agree to oiher tertns of payment. these amounts shail bear interest hom the date of • , � - !';,'��
<br /> � `"� disbursement at the Note rate and shall be payable.with inteiest,uFon notirr_from lender to Borrower requesf;ng payment. , • . ` .,
<br /> 8. Mortgage Itisut'�tiC6. if Lertder required moRgage insurance as a wndi�on of making the Ioan secured by this . _-� ,����, �_-
<br /> Securtty Instrument Borrower shafl pay the premiums required to maintain ihe moRgage(nsurance in eftect. B.tar any reason.the __ -�---
<br /> mortqage insurence coverage required by Lender lapses or ceases to be in effect. Borrower shail pay the premiums required to �"=Y< -�,.;,`�`�..�
<br /> � obtain coverage substantialty equivalent to the mortgage insurance previousty in effect. at a cost substanflaUy equivalen2 to the ,;�
<br />� cost to Bonower of the mortgage msurance previousiy in effect. from an altemate mortgage insurer approved by Lender. H --• —_
<br /> substantially equivalent mortgage insurance coverage is not ava�lab�e. Borrower shaU pay to Lender each month a sum equal to ��'`'-'�.�.,��`�'"�R _
<br /> one-tuveftth of the yeadyr mortgage insurance premium being paid by Borrower when the insurance coverage Iapsed or ceased to ' �r�;r�u--- �_.
<br /> ' be in eftect. Leader wi0 accep� use and retam these payments as a loss reserve in lieu of moRgage insurance. Loss reserve - -- _=�
<br /> . payments may no lortger be required.at the opticn at Lender. H moRgage insurartce coverage(m the amount and for the period - • ���
<br /> � that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrowet shall pay �T�'� �
<br /> the premiums requved to mainiain moRgage insurance in eflect, or to provide a loss reserve, until the requirement for rrtortgage .;w3�G—
<br /> insurance ends in accordance with any written ayreerrtent between Bartower and Lender or appGcable law. '�.�:r�
<br /> � 9. tnspection. Lender or i4s agEnt may make reasonable entries upon and ins�rections of the Properry. Lender shall g'rve �� . ;,-��
<br /> BoROwer notice at the trtne ot or pdor to an inspection specifying reasonabfe cause for the uospection. - . _-_,
<br /> �-�,..+Ra�r a,f
<br /> � 10. Condemnat[on.The proceeds of any award or claim for damages. direci or consequential, in connection with any --,`3"'a:.
<br /> " condemnation or other taldng of any part of the Property, or for conveyance in lieu of condemnation, are he►eby,assigned and .�.., n.. �-----
<br /> sh.atl be d to Lender. �.�'�`��' �-
<br /> . P� .�`°,:�
<br /> � In the avertt of a total taWng ot the PropeRy, the proceed: shall be applied to the sums secured by this Sewrily �� �r'� —
<br /> _�._ Instrument whether or not then due.wtth any excess pald to Bortowr�. In the event of a partial taldng of the Property in vihich ' � - ' �'� � ;,�
<br /> the fair market value of the Properry immediately betore the taldng is equal to or greater than the amount of the sums secur�d �
<br /> .- • by this Securfry Inst�men! tmmediately before the tatcing. unless Borrower and Lender othervvlse agree In wriling, the surrts � �
<br /> secured by this Seeurity Insdument shall be reduced 6y the amount of the proceeds muttiplied by the tollowing fraction: (a)the ',�;� : �'
<br />_ - tatal amount ot the sums s¢cured tmmediately before the taldng, dtrided by @)the fair market value o4 the Property immediately 'g°�
<br /> before the taking.My balance shall be paid to Borrower. In the evertt cf a partial taking of the Properiy in whir.h the fair ma�i<ei z-�' -
<br /> value of the Property unmediatety belere Yne taking is less than the srn:crJnt of the sums secured immedtatety before the fakina. !" "�
<br /> " � unless Bortower and lr�der othenvise acgee in virfting or untess �icab�e tan otherwise provldes, the proceeds shall be _ ;'t�'.�`
<br /> applied to the sums secured by this Securiiy InsUniment whether or rtot the sum3 az then due. - ,:;� '
<br /> If the Property ts abandoned by Borrower, or if, aft2r noUce by Lender to B.;crower that the condemnor oflers to make an ;� ,_ '
<br /> award ar settte a claim (or damages. Botrower lails to respond to Lender within 30 days after the date the noUce is gNen. ' •_ �"t'�� "�
<br /> .- �ender is authorl�ed to colteU and apply the proceeds, at its aplqr efther to restoration ar repair of the Property or to ihz ��'=''='
<br /> ` sums secured by this Securiry Inshume��whether or not then due. - � �!��-
<br /> Unless Lender and Borrower othervvise agree in vrtiting. any appliptlon of proceeds to pdncipal shal not extend or
<br /> postpone the due date of the monthry payments re(ee�to in paragraphs 1 end 2 or ehange the amount of such payments. :c�'�`:.:
<br /> • 11. BorroweP No! Reteased; Forbeare�ce By Lertder Not a Waiver. Extension ot the time for payment or � ' �._�•••-• -
<br /> • modiilcatlon o1 amorti�tlon ot the sums secured 6y thls Security Instrument granted by Lender to any successor in inte�est cf "��•��; •-
<br />. ' .,,;sr• .. --.
<br /> Borrower shalf not operate to release the liability oi the odginal Bortower or 9oROwer s successors in lnte esi Lender sha11 rc�: s, ��r�y. -.. •,.
<br />; be requlred to commence proceed:ncs against any suceessor in interest or refuse to extend Ume tor payment or othenv=e �,���y�t . •, .
<br />: , moddy amoNmUon ot the sums seccred by this SecurFty tnstrument by reasan o!eny demand made by the ortginel 8orrower or ,. . r;-::•--� __
<br /> , BoROwers successors in tnierest. Any torbearance by Lender(n exerdsing an{ Rght or remedy shall not Ise a waiver o1 or �f�;,; ,:�4,-�_'r. -`; ::a:::
<br /> • preclude the exerdse cf�.y dgh!ar r�^+edy. '��` �,•JA• ��
<br /> :'s.:',�_;'_ ,.... ...�.
<br />: . 12. Successors and Aa_f� 8ound; JoiM and �svaral Uabtlity; Co-sFC,r,y��rs.Tt�e cave,an�az� r�,•. .•:;"
<br /> agreeme:is of this Securfty Instrument�-nlll blrtd and henefit the sua�>sors and assigns of Lender and Bortower.subject to ih� -�� �•� •,.
<br /> .s_�,___�..�
<br /> provisiar.s of paragraph 1T. Borrowers wvenants and agreements�.�all be jolnt and several. My Borrower who casi�s�_is • -•_ ---�,m,..-..-__
<br /> Securily Inshument but does not execute the Note: (ay Is casigning this Security Instrument onty to mortgage, grant and convey - � �
<br /> that Bovowers interest in the Property under the terms of th(s Security Instrument; (b) is not personalty obliga'.ed to pay the •''. � ���=�
<br /> � . sums secured by this Security InsUument; and(c) agrees that Lender and any other Borrower may agree to extend. modi(y. ;�,"'" ��
<br /> forbear or make any accommodtitions rrith regard to the tertns of this Secudly Instrument or the Note wiihout that Borrower's •��.''t'' .
<br /> ,,�r,_ .
<br /> consent �.'�''r.`
<br /> 13. Loan Chargea. 11 the tca� secured by thls Securit�� 'r.strumer.t ls subject to a law which se2s maximum loan `�f,�=�'
<br /> . charges, and that lavi � finalty interyreted so that the interest or other Ioan cliar� collected or to be collected in connection
<br /> � . � with the loan exceed �ne permltted limits, then: (a� �^y such Ioan charge shaU t»reduced by the amount necessary to reduce � _ �--�_
<br /> :� ihe chargs to the pertnitted limit; and (b)any a:.� aiready cel'ec?ed irom Bortower whlch exceeded pertni*ted limits will be r•= ��-- - —'
<br /> • � refurtde�:a Bortower. Lender may choose to make*_!-"s rehtnd ty����cing the pdncipal owed under the Note or by makfig a �'-�'"�'." �.:
<br /> • � dlrect �:y.*�ent to Bortower. If a retund reduces p^rdpal, the c�.ctlon will be treated as a paRlat prepayment wRhout any ��'���'�'--*T
<br /> S prepayment chsrge under tho Note. - - - ,r{•
<br /> ' f 14. {�lOtiCOS. Any noUco to 8ortower prov1��3 tor In tfiis Securiry Inswment shall be given by delivedeg i:or by maiCmg it ' '
<br /> �' by first dass mail urttr_:>s applicable law requires �se of another method. The noUce shall be directed to the PYOpBTIy Add�2SS --�::�';�k�:.�;r' ;�r
<br /> ',;' or any other addre:,.� BOROY/Ql designaies by noi�ce to Lende►. My noUce to Lender shall be givert by Grst Gass mail to � � � �_
<br /> �« Lender's address sta'eC hereln or ar� other address Lender desig._'es by notice to Borrower Any notice provided for in th� ' ���. •
<br /> Security lnstrument stz�;l be deemed:a have been given to Bortowea er Lender wheo given as pc�'.ded in this paregraph. ' '�'~-
<br /> �iv-
<br /> ; 15. Governi�m� lavr, Sev8d8bS1lty. This Securiry Instnctt:ent shall �e govemed by federal Iaw and the law ot the .�_
<br /> ' jurisdiction in whlch the Property is loceted. In the event that any provision cr dause of this Security Instrur.:ent or the Note �• '
<br /> �:
<br /> � confllcts wlth applicabte law,such confllct shall not aftect other provisions of thls Seeuriry Instrument or the Nate which can be • � �'�' _
<br />. .,� ' ' �� �,�
<br /> given eftect without the con�icting provlsion.To thls end the prcvisicr.s of this 5°curity Instrument and the Note are declared to
<br /> be severable.
<br /> � � 16. BOftbWer'S COpy. Bortower shall be glven one conformed copy ot the Note and o1 this Security Instrument. '. ' � • _ • _.__
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