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<br /> • . .`. ' . � 7. Protectton o!�ender's EifgMs in the Property. ir aorrower raas co Peno�n me coYenancs and agreemenu - �
<br /> conmined in this Secur�ty�nstrumsnt,or Mere is a tegal procgeding tltiat may significentry ahect Lender's righA +�the PropeAy tsucn as '� , �
<br /> - . a ptoceed'a�g in benlwptcy.protiate,for condemnation or foAeiWrB or to entorce taws or regutations}, then LendBr may do and pay for � 4 _ ,
<br /> � . wAatever is neeessary to protect the vatue af the Property and Lendafs rights � the ProAerty. Lendai's aetions may incNde paymg � . � �
<br /> any sums seCU�ed by a lien whieh has prlorily over this SeCUrity InSWment,apAearEn9 in court,Pay�g reasonabte attomey s tess and I , . . �
<br /> erttering on the Property to make repairss. Atthough Lender may take action under ttiis para�aPt+?,Lender does aot�ave to Eo so. � .
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<br /> ' Ilny amounts tlisbursed by Lender urtder this par88�8D� 7 shail beCOme addNonel debt ot Bot►ower secured by tAis Security �
<br /> � InstrumenL Unless Bortawer and lPnder agre9 to other terms of payment, these amounts shall bear interest hom Me date of � . '
<br /> _ • . • } d'6bursement at the Nofe rate and shall be payabta,with nterest,upon rtotiee hom Lsrtder to BoRawer requestmg palrmen� � .
<br /> 8. Martgage Insuranee. It Lender requ�ed mortgage Insuranca as a eoad'dion ot making the loan secured by Mis Security � •'� .°�
<br /> • Instrument, 8orrower sha0 pay the pramiums required to mamffitn the mortgage insurance� ef(ect. It, for any reason, the mortgage ,
<br /> ' insurance coverage required by Lender lapses ar ceases to De in efteet,BOrrower shaU pay the p�emiums requtred t0 obtain Caverage � . '
<br /> ....s_�.Y substanuatiy equlvalent to the mortgage insurence previously� efleet,at a eost substantfaliy equiva�ent to the cost ro 8orrower of the ��
<br /> � � moRgage msurance previously in ef(ect,fram an aftemate martgage insurer approved by Lender. If substantalry equMa�nt mortgags - �-- --- , ,
<br /> - � � � u►surance Cove[age is not eva�7abie, Borrovrer Shall pey to Lender eacfi montA e Sum equal to one tweNN► of the yearhr mortgage , ��
<br /> , . insurance premium betng paid by 8orrower when the tnsurance coverage lapsed or ceased to be in eftecL Lend�r wiU accept,usa snd , . ;
<br /> , , retain these payments as a loss reserve in C�eu o1 mortgage msurance. l.oss reserve PaYments maY no ionger be requ6ed, at the
<br /> ' option ot Lender, � mortgage (nsurance coveraSe (in the amount and for the period that l.ender requU�es) provtded by M insurer `.,��.� .°.
<br /> approved by LenQer agein becomes avaiiabte and is obtalned Bortower shall pay the premiums requhed to mainta�n moRgage ___ ��;..x, �,;;,
<br /> � E� msuranCa in eHect, or to pro�ide e loss resenre, unUl the requir�ement tor mortgage u�surance ends in accordance with any written �
<br /> : � - agreement 6etween Borrower art0 Lertder or applicab�law. .J�"„ ' � •
<br />_ • •..-�;� 9. Inspection. Lender or ds agent may make reasonabie enVies upon and o�specfions of the Proparty. Lender st�ali give ` -•• �.r,r:
<br /> Borrower notk:e at the time of or prior to an mspection speci(yring reasonable ceuse for the�spectiun- 4`��,,'�
<br /> . � 10. Condemnation. The proceeds of any award or ctaim for damages. d'vect or consequential, tn connection wRh any ,;�
<br /> �-y�� candemnaUon or other taking of any part of the PrapeRy,or tor conveyence m Geu of condemnaGOn,8re hereby assigned and shatl be f�.—
<br /> paid to Lender.
<br /> , . .,., In the event ot a total takimg of Me Property, the proceeds shall he appiied w the sums secur8d by this SeCUrity tesbvment. _ _
<br /> � � ' wheMer or not then due, witA any excess paid to Banower. In the event of e pard8i teking ot tha Pmperty bi which the fair market , _—
<br /> � � vatue ot the PropeRy irtunediafely 6efore the taking is equal to or greater than the amount of the sums securetl by this Security ; ' i�''�
<br /> . `� InsUUment trnmedatey before the taking, unless Borrowar and LenQer othmwise agrea in writing. the sums sacured by this Securily .--- ,,.
<br /> � Instrument shall ba reduced by the amount of Me proceeds mukipliad by the following fraction: (e) the total amount of the sums � "'-
<br /> - - secured immediately before the telcing, divlded by (b) the fa'c maAcet vatue of the Property immediate�y betore the taking.Any batance �... s � y
<br />= shatl be peid to 8arrower. In the event ot a paR(al teking of tne Property ►n whtch the fab market value of the Property immedhately ` ��'
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<br /> - -•� ��i-.. before the tekin8 Ls �ess than the emount of tha sums secured Unrnediataty bafore the taktng,unless Bortowe�and Lender otherwise '�• .�' �;�-4��
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<br /> � a�ee in wr�ing or untess appricabie law othenvise provldes, the proceeds ahali be ayyGed to the sums secured by tQis Securifyr ,
<br />-' � Instrument wheMer or not Me sums are then due. � �'�-��
<br /> �t .. � �� If the Property is abandoned by Bortowet.or A,after notice by Lender W Bortov�er that the condemnor ofiers to make an awartl or _ ____
<br /> ;. � s9ttt8 8 Ctahn tot damages,Borrawer fai(S to respOnd to LenQer w�Thtn 30 days after the date the noiDce is gnren,Lendet is suthoraed ��_
<br /> to colfect and eppry the proceeds,at its optton,either to restoratton or repatr of the Proparty or to the sums secured by this Security �,�_;
<br /> Insbvment,whether ar not then due. �• ����`=�-'
<br /> • , Untess Lender end Bortower otherw(se egres in wBtfig,any appiicatton of proceeds to principal shall not extend or postaone the , _"��,,�„>
<br /> � due date of the monthty payments reTerred to m paragraphs 1 8nd 2 or CAange the amount of suCh payments. , : :'.;�'.:����
<br /> � � 11. �orrower Not Reteased: Forbearance By Lender Not a Watver. �aens�on ot tr,e c'�me ror payment or _ . �'i��:
<br />- mod"�'icaUon of emortization ot th9 sums secured hy this Security Instrument granted by Lender to any successor in interest o1 Borrower �_';,"�.
<br /> � shaU not operate to retease the Itabiiity of the orlginal Borrower ar Boaowers successors in interes4 Lender shall not be requirod to . . ---`�'• -��---
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<br /> ' commence proceedings against eny successor in interest or refiue to extenG Ums for payment or otAerwise modity amortQatton of the �
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<br /> sums seCUred by this Security InSUUment by reason of eny demand msde by the original 8orrowet or Bortowers successors in . � ,.;.�. _
<br /> mtgresL My forbearance by Lsnder in exercisrt�g eny right or remedy shall not be a waiver of or prectude the exercise of any right or ,�,.:,��..,�"
<br /> ;. ' remedy. ' '?�"�';:
<br /> �! � . 12. Successors and Assigns Bound; Joint and Ssveral Liability: Co-stgners. rne covenants and :, .. ` �• _'
<br /> , agreementa of this Security tnstrument shall bind and benefd the successors and assigns ot LenCer and Borrower, subject to the �? � '!?u:=:,•
<br /> �, ' ,• � provislons of paragraph 17. Borrowers covenants and agreements snatl be jo(nt and several. My Borrower who casigns this Securityr � - � �t°�"
<br /> y,, �'r; Instrument but daes not execute the Note: (a) is co-slgning this Securlty Inswment only to mortgege, grant, and convey thai ,. .
<br /> + 8orrowers interest in the Property under the terms ot this Security Instrumsnt;(b)is not personalty obligated to pay tAe sums secured _
<br /> � by this Security Instrument: and (c) agrees that LenQer and any other 8orrower may agree to extend, mOdity,forbear or make any . . . �
<br /> . accommodations wdh regard to terms of this Securityr instrument or the Note without that Bortower's Consent. • �
<br /> � 13. Loan Chargea. If the toen secured by this SeCUr'Ay tnStNment is SubjeCt to e I�w whiCh sets mexhnum ben Charges, •
<br /> . ' '' and that law Is finatly Mterpreted so that the interest or other loan charges coltected or to be collected in cannection wfth the laan � �
<br /> •,. � • exceed the permitted limrts, then; (a)any Such �o8n charges Shail be reduced by the amount necessary to reduce the charge to the
<br /> �. � permilted iimit;and(b)any sums a7eady C011eCted fram 8ortower which exCeeded permitted limits will be refunded to 8orrower. Lender • •
<br /> . may Choose to meke this retund by reducing the principel owed under the Note ot by making a dUect payment to 8onower. If e ..
<br /> . ° � ' retund teduCes principab the reduction wiii be treated as a partial prepayment without any prepayment cherge under the Note. :
<br /> . y � ' 14. NOUC@8. My notice to 8ortowar provlded for in this SecurRy InsWmem sAall be given by defiverirrg R or by maiiing R by
<br /> ' first class mail untess applicabte 1aw �equUes use of another method. The notice shall be directed to the PropeRy Address or any �
<br /> ... ' ot�er address 8ortower designates by notice to Lender. My noNce to Lender shall be given by tir5t class meil to Lender's address
<br /> • ` stated herein or any other address Lender designates by notice to 8orrower. My notke provided tor in this Securlty Instrument shall :
<br /> � • be deemed to have been given to Borrowet or Lender when glven as provided in this par8greph. -
<br /> � ' 15. Governing Law; Severabllity. rn�s sec�ray Instrument snan be governed by rederai raw and me �aw ot tne � . .
<br /> � , Jurisdiction in which tho Property Is loCeted. In the event the!eny prov�sion or clause of this SeCUrity Instrument or the Nole Conflicts � .
<br /> � � � with appiiceble law. such confliCt Shall not eHeCt other provisions ot this SeCUrity Instrument or the Note which can be given etteCt �
<br /> • vrithout!he Contlicting prOVision. To this end the provisions O1 thig SeCUrity Instrument and the Note are deClared to bo Severabte. �
<br /> • 16. Borrower's Copy. 8orrov�er shall be_given one contormed copy of ihe Note and of this Security Instn,ment. �
<br /> � �7. Transter of the Property or a Beneflciat Interest in Borrower. If 811 OI Sny p8h 01 th9 PlapeAy Ot eny • . ' •
<br /> j interest in it Is 5o►d or t►ansterred(or if a bene}�Cial interest in Borrower is soltl or trenslerred a�d Borrowe� �s not a natural personl
<br /> � , withouf Lender's prior written consent. Lender may,at its option,requ've immediate payment in lull of all sums secu�ed by t��s SeCUrity
<br /> . Instrument. However,this option sha��not be exercised by Lender A exerC�se is prohibited by federal law e9 of the date ot this SeCUrity . .
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<br /> N Lender exercises this option, Lender shall give Borrower notiCe o} dCCeleration. The notiCe shell provitle a period o� �ot Iess ; .
<br /> � than 30 deys trOm the date the notiCe is detmered Or me�led withm whiCh the Borrower must pay all sums SeCUred by tAfs SecurAy �
<br /> InslrumeM. N Borrower fe�ls t0 pey these sums pnot to the exp"veti0n 01 this period.Lender m�y mvOke any remed�e5 permltted by t�is � ,. -
<br /> Securdy Instrument wdhout lurther notice or d8mentl On Bortower. ao�m 3o2a e;sa .
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