|
:}t�:��.�`1 . _ . i�=. �._
<br /> ,
<br /> - - .�:
<br /> _ . �
<br /> ---r—�-�-> --.,_ _. . .. - - � --
<br /> , ., —
<br /> .
<br /> .,
<br /> , < < ' � , `•� - rf -
<br /> _ _ . . -�F:-'=-:• -• `,r•- - m:' c 4 _ 4 '( " .4 ( S ',t
<br /> . � r� f G.'.�.r� _ '..J. S. �..._-_.' '.,_,�,_ --'_' �_�.._r.�.�_.__. .._-.�___.,�-_.f, - ,�+�t ,
<br /> ' �� . . . . � `� ". . .
<br /> <
<br /> �'1 �G f. `
<br /> ` �- ��� 7. P�otectlon ot�endePs Fttgh4s 1�t the Property. a BoROwe� +ans cc oertorm me co+rensnes ana e¢reoments ' -.`
<br /> • � ' , . .:. ;' ;,}'�"_:
<br /> . contained 'm this Secu►ilY tnStrumen�ot there�S a tagal prot�sdtng that rt+aY signif�ntN aHeCt L.enders n9hts in Me ProP�Y Esuch as . . , . ,,
<br /> . .. a proeeading in benk�upleY.Probate.for wndemnation m toAeituro or to entorce taws or regutadpns).then lender may Qo and pay�or •
<br /> - _ -- _=- whatever is neeessa�Y w Orotect tl�e walue of tAe Property and lsndar8 righta �►tt�a Property. Lenders acpons may 8nC9�d� paying �— __� --
<br /> .. k : . �
<br /> • ' any sums soeursd tiy 8 lian whicA has pricrity over tnis Seeurfty tnstrumCn�aPDeazin9 tn aourt.paymg rcasona�bb attomey'e teas enA • - ,
<br /> � entmtng on the Propeny W make repeha. A@hougt�LenCor may ffik0 actian under thls pamgeaph 7.Lender does not heve to Qo s0• , �. ... '°. `'�
<br /> • � . Any amounffi�tsbuised by Ler+dsr under thb paragreph 7 shaU Dueame add�onal deEt of Borrowar secured Dy tt�b SocurRyr �'
<br /> � � lnstrument Untess Sorrower and i.end� agree to other tertns of payment. these emounta ahe0 bear tnterest irom Ne d�te ot . • '. ' ,
<br /> ' . . � disburs�neM at N8 Note rate 8nd shaD be payabta,vrtth tnterast,upon notke trom Lender to Barrower requesto��paymenL � '
<br /> � . : 8. N4ortgage insuranc� If LenQsr�eWtr80 mortgage UsurBnee aL a Condhtan of matcing the toan secured by thts SeCUrlly � .
<br /> � , tnsbumen� Bortowe�shall pay the premiums requhed to rt�a(ntain the moRgege Insurence in effect It. for eny reason,ttie marigage 6 ,
<br /> , „ msuranee coverage required by Lender fapses ar ceases to be fi effecl,Bartower shaU pay the Or�em�ums requtred to obtatr�coverags ,�
<br /> _ -'�F subsmntlatty equfvatent to Me martgage c�suranee prevtousy a� eftect.at e cost substanttatt�equivaient to the cost to Bottower of tha � ` , -
<br /> `.�r..
<br /> T . mortgage insurance previousy tn e8ect,trom en attemate mortgage a►surer approved Dy Lender. If substenttattyr equtvabnt mortgage � � T ;
<br /> � insuranes eoversge ts not ava�'tabte, Borrower shall pay t0 Lender each montA a sum equal to on�tweMh of tne yearry mortpaga � �-. "•• �
<br /> , ` 5_ rt�surenCe premhtm being paid by 8ortow�when the insurance coverage lepsed or Ceased to be in eflect. Lender w�l aecept,use end � � ."��'�} `'_..
<br /> � retain these payments as a loss reserve in Geu of mortgage insurance. Loss reserve payments may no tonger be require0. at tha 'q : - __-_
<br /> � ' . optlon of Lender, it martgage fnsurance coverage M the amount end'for ths period that Lendsr requues) provtQed by en insurer � �
<br /> • : aPProved by lendsr � becomes ava�bt� end is abtained Bomower shail pay the Dremhims wQuhetl to matnmin moc�age • c ` X' `-
<br /> ,`" insurance tn eflect. or w pmvide a toss resenre. unt0 the requh�ement tor mortgage tnsurance enQs in accordance w�h eny written ` � __
<br /> eme
<br /> - � � � agreement betwesn Borrower end lsnd�at appCUebte Iaw �F .` ,
<br /> � `�� 9. tnspectlon. Lender ot�s ageni mey make reasonable entrtes upon and inspQetions of the PropeRy. Lender shaU give �����_
<br /> �� Bartower not�ce at the time ot or prior to an tnspecUon specdying�easonabte cause far the fnspecUan. �''___�_
<br /> . • 10. CondemrtatIan. The praceeds of any award or clairn tor damages, direct or consequenttal. in cannection wfth any `. `. . . = -
<br /> .. � wndertmation or other tektng of any part of the Properry,or tor conveyance m Qeu ot condenmaUon,are hereby assigned and ShaO be �:�.I��;� �
<br />- ' Paid to Lendet. ' . 1��
<br /> lied to the sums SeCUred b fhfs SeCUtRy tnStrumertt. , .��_`
<br /> tn the event of a tatal taking of the Property.the Dro�� sha0 be app Y -.�.�-
<br /> " �.'f; ': whether or not then due, with any excess patd to Bcnower. in Me event of a partiat falcing of the Property in whiCh the tah market � ---
<br /> :, '��
<br /> 'f:.- "� ' vah�e ot tne Froperty immediatery before tt►e taking is equal to or greates than the amount o! tha sums secured by thts Securdy ` -4- _
<br /> :.�.:�_::
<br /> Insuument unmsd'atery before the talcing, uniess Bortower and Lend�otlfmwise ag�in writing. the sums secured by thts S9curdy - -_�
<br /> � � �:'; MsCument shaU b0 reduced 6y tha amourn of the praceeds mu9ipGed by the toRowTng fracUon: (e) the rota! amounl of the sums --
<br /> ` ssCUred tmmediatey befora the faking, dlvided by(b�tha faLr maAcet vaiu9 ot the Property 6nmediateN befare tAe feking. Any Daiance F - .�" �.
<br /> �:' � '.�> shaU be patd to Bortawer. tn the euertt o}a partial takLig of tAe Property in which tAe fair martcet vatue of the Praperty immediatary
<br />=- - � •- Detore the taking fs lass than the amount ot the sums secured immediafety before tha taking,unless Borcower and Lender othenvise . . ` _���'��.:
<br /> '; s�ee in writing or untess appGcabte Faw oMerwlse provtdes, the proceeds shaB bs appGed to t�e sums secured by this Secu�y `��Cid'�"
<br />,.-:. ,�,:.��
<br /> It1SbUR19flt whelhe!Of IIOi thB 511(I1S 8�6 MeD dUO. �n����
<br /> .y. . - • If the Property�9 abandoned by Borrower,or if,after noUce by LenQer to Borrower that the conQemnor oHers to make an awar0 ar ,.__ _.
<br /> = • ' settle a ctaim far damages.Borrower taits to respon0 to Lender w(thin 30 days after tt►e date the notice is ghren,Lertder is 8uthofiaed ";�:•,"; �,•�,.;;;•r�..
<br /> �'� - to cotteet and eppy the proceeds,at its opUon.efther to wsMratlon or repair ot the Property or to the sums secured by thLs Securdy . ;�..:;:�_�._
<br /> ` Inswment,whettier or not then due. r.�:����"'�'����
<br /> ' •• � Untess Lender artd Borcower othervvise agree in vrt(Ung,any appl'icatton of proceeds to pdncipal shaU not extend or postpone the -. . � r�':;
<br /> '•���p:- , i.
<br /> • ' • due date ol the monthry payments retarred to In paragraphs 1 and 2 or change the amount o!sucfi payments. ���Y , � �•��-�
<br /> - . � . 11. @orrawer Not Released: Forbearence By I.ender Not a Waiver, cticcens+on ot taa ume for payment or .. -��.�w��"
<br /> ��� ...._:.�• _._.__ mo�AfcaUon of amorttrafion ot the sums Secured by thts Securky Instrument�anted by lender to any successor in Interest ot Bortower __--
<br /> •� ' ahatl not operate ro retease the liabifiry of the or(girrral8orrower or Borrawers sUCCessars fn interest. Lender shatl not be required to � '�;`.�.:
<br /> • commence raceedin s against 8ny successor tn interest or retuse to extert0 t(me for payment or otAerwLse moEiry►amortimtton of the ''. � ` -�;:��"=`
<br /> • • � g �'�''-;
<br /> � sums secured by this Securityr fnsWment by reason ot any damand made by the ariginal Bortor�er or Bortowets suecessors in .•
<br /> ' t�terest. Any torbearance by L6nder in exerclstng eny right ar remedy shail not be e waiver o}or prectuQe tt�e exercise of any�igAt or , . . '��
<br /> ,��
<br /> .. remedy. • .:-�
<br /> . 12. SucceESOrs and At;aigns Bound; Jofnt and Severat Uability; Casignera rne co�ener�u and , , '�:
<br /> ' � agre0ments of this Security Instrument sha0 bind end benefit the suCCessors and essfgns of Lendar end Botrower, subJect to the `�_-
<br /> ,.-_ ��
<br /> - � ' ' provlstons ot paragraph 17. Borrowers covenants and agreements s�aD be joint and severaL My Borrower who�o-signs th}3 Security °
<br /> �.�Y� __
<br /> � ' tnswment but does nm execute Me Note: (a) ts co-slgntng this SecurRyr Instrument ony to mortgaga, grant, and comrey th8t � ---.
<br /> Bortowe�s interest tn the Property under the terms ot Mis Securiry InsWment;(b)is not per5onalry ob�igated to pay the sums secured '
<br />: �. � by this SeCUrity Instrum0nl; and (c)agrees that Lender end any other BoROwer may agree to wRend. modify. bibeer or make any . • ,� :
<br /> ' � accommodations wilh regard to tertns of this Security Insuument or the Note wRhout that Borcowers cansent , :
<br /> • : 13. Loen Chargea H the toan secured by this Securityr Instcument is subject to a 19w wbicA sets maxhnum loan cherges. : .� '
<br /> � � and thet taw is flnalty fiterpreted so that the interest or Other loan Cherges coliected or to be coDected in connecUon witA the loan � •
<br /> •� � � exceed the pertnitted timits,then; (a)any sucA loan charges shatl be reCuced by the emount necessary to reduce the charge to th0 ,_ „
<br /> pertnittad Umi�and(b)eny sums atready collected from Borcower wh(ch e�eeded permitted Ibnfts w�l be refunded to Bortower. Lender .
<br /> may ehoose to make this retund by reducing the principal ov�ed under the Note or by mr�king a dfrect payment to Bortower. If a � : . .
<br /> � retund re�uces principe►,t�e reQuCdon wi0 Ee Veated as e partial prepayment wRfiout any prepayment cherge under the Note. '
<br /> �: .; 14. Nottcea. My notice to Borrower proviCed tor in this Sscurity tnstrument shatl be given by d8iivering ft or by mailing d by �
<br /> • � � tust ciass mail unless epp=xable law requ�es use of enothet method. The notke shatl be d�rected to the Property Address ot any . ..
<br /> . • ot�ar adQtess 8orrowet designates by noUce to lsndar. My notke to Lender shall 6e given by 1'ast Ctass ma(i to Lenders 8ddress � � �
<br /> : . stated herein or any.other address Lender designates by notice to Bottower. My notice proviQed for in thls Securiry InSWment sha11 . .
<br /> be deemed to have been given to Borrower ar Lander when given as provided in this paregrap�.
<br /> 15. Governing Law;Severabitity. This Secutity Instrument sheli be gOVemed by fedetat f3w 8nd the !�w ot the .
<br /> jurisdbtion In whbh the Property is loeated. In the eveM ihat any provision or clause ol this SecurRy Instrumen!or the Note contlicts
<br /> ��-';� ` , � vrith appliCaDt3 67v+. SuCh Coatl�Ct Shall not aHCL't other provl5ions of this Seeur'rty Instrumenl or the Note wBICA cun D0 given etteCt ' � �
<br /> , without the contliCting provl9ion. To this ertd the provisians o1 thLs Security Instrument and the Note are declared io be severabte. .
<br /> � i 18. 8orrower's Copy. 8orrower shall be given one Conlomred copy ol the Note and of t�ls Seeurityr tnsWment. �
<br />- . 97. Transter ot the Property ar o Benettclal tnteres4ln Borrower. ►t au or any part o� tne Property or any
<br /> � interest in it is sold ot uansfeaed (ot H a benetiClal mterest in Bortowar is so(d or transterred and Bortower ts nol a natural person) '
<br /> . , � without Lenders prlor written Consent, Lender may,at its option,require immediate payment in full ol all sums securetl by thts Security
<br /> ';,. • InsUument. However,this option shall not be exercised by Lender if exerci�e is prohibrted by federal law as ol ihe date ol this SeCurity
<br /> . . • . insuument. .
<br /> If LenCer exercises th's option, Lender shall give Borrower notice of acCeferation. The notiee sha0 provlde a period of not less . .
<br />" thsn 30 days trom the date the noliCe is delivered or mailed with� whicb the Bonower must pay aU sums Secured by this Security , � '
<br /> � � Instrument. H BonOwer fails to pay the59 sums pri0r to the expiration o1 this period.Londer mey invoke any remedies permRted by Ihis i � .
<br /> ' SBCUrRy InsWment without tuRher notice Or demand on Bortower. Fo�m ao2e ereo � ,
<br /> I
<br />' - . F�029.LM0(10/97) Page�ol S .. .
<br /> . . ....._ .. _
<br /> E
<br /> . i �
<br /> g4i .
<br /> .>,
<br /> .� �.�....—..r— - .
<br /> � � 'l
<br /> - .. . :... ' . ...:, � .. . . . � - ,
<br /> . • ..'+ .
<br /> ,v, . ._� , . . •
<br /> .,
<br /> . .;'• , .. .._ ... . . . �i' '.s,El. s.,:+��°. .�:`r• ..:��4- . � - . . . . .. �- -.� , ....._. .. :�...'. E..
<br /> . � •.
<br /> i
<br /> � -�.,..- - . , �. . . .: . . ..-. • �-.:.-' -- - ••--•
<br /> � � -�. '. ' .' �'
<br /> . �,
<br /> . . . _ . . . .. . . _ , .. . . �.... . . �.. . . . . ... ,
<br /> _ . . . . . .�=�y�-
<br />
|