|
. . . ,.� ._..--------------_-_.-_— ..� -�.____-__�.__.4_... ; . _
<br /> � - substantially equivate�t mortgage�nsnrance coverage is not available. Bor�wer shall pay to F.ender each month a�um equal to ___��_
<br /> •`��F o;�c.tw�eifth of tit�yesrly nnortgage insucance premium being paid by Borruwer tisrh�n the insurance coverage lapsed ar ce.ased to .
<br /> � tre in effect. Q.ender�vill sscept.use and retain t1►ese payments as a loss reserve in lieu of mortgage insursnce. Loss resen'e ,��`.a '- . ;.•.�.°�
<br />- payments nisy no lanrer be required.3t the option of Lender.if mongage insurance cc�verage(�n the amount and for the period� , ;' ,` -
<br /> that l.ender requires)Prov�ded by un insurer approved by I-ender again bccomes available and is obtain�• Burro�ver shall pay 1
<br /> the premiums requited to maintam mortgage insura,nx i�i ziiwt.ur ta�ra�id:a tos�reseree•usii�!the recl=���e^x'nt for moReafie �•�R,_
<br /> iasur,uice eads in accurdance with any�.�itten agmement bet�eeen Borrower and Lender or applicable law.
<br /> ' 9.I�p:xtiota. l.ertder or its agent may make reasonable entries upon and inspections of the Property• Lender shall give � �°�:r ___
<br /> Eorrnticer notice at the time of or prior to an inspection spociiyin� rc�nable cause for ths inspection. = - . �
<br /> 10.Condemnfltion. 'fhe pr+cmeeds af any award ur claim for damages.direct or mnsequential, in ronnection�vith any � . �, ' . � _ y
<br /> �• condemnation ar other taking of any pan of�he Property'. or for conveyance in lieu of condemnation, are hereby nssigned and „ti. . „ u.
<br /> .e•hall b�paid to Lender. �`. " �
<br /> In the event��f a total tal:ing of the Property.the proceeds shall be applied to the sum..secured by thi.Security Instrument. � ;
<br /> -" v�hether ar not then due. �sith any excea,pa►d to Borrower. ln the event of a partia! t:dcing of the Property in which the fair . • _ -__�__� ;.
<br /> Q : markct vaiue of the Fruprr►y immediatcty tsefore the talcing is rEdua�t�or�reater than the amuunt ot thc�utr►.secured by this _ -x;�,
<br /> --T . .
<br /> Security Instrument immediately before the takin�. unless Borro�ver and l.ender udierwise agrce in writing. the+um�sccured by �
<br /> "'' thic Se�vrity Instrume�t .hall 6e reduced by the smount of the proceads muldplied by the fi,llo�ring fraction: tal the total ,.�.. .,=,:,,. ,,,g._
<br /> amoum of the sums�ecured immediately befom the tal:ing,divided by(bi the fair market v:elue af the Prc�peny immediately , "� Y,.•.:_�,..;F;�
<br /> before the tatcing• Any b�fan�e shal{ tse paid to �orrower. In the event of a partial takin�of che Property in which the fair - • • ._'�� . s��'"�4-'.;__
<br /> market value of thc Property immediately tsefore the takiag is I�s than the amount of the sum-r• tiecured immediately before the :�is-`-,�,••�;- _
<br /> _ .�wr.r`u'`�!rt�':'•. -
<br /> taking. unless Borrouer and Lender otherwise agree in writing ur unless applicable law utherwi,e provides, the pruceeds shall --�H•`",.__-
<br /> ; �i;C�'.;ztr —
<br /> b�appfied to the sums secured by this Se�titriry In�trument whether or not the suctts are then due. ,,`, . :,.i.
<br /> ' lf the Property is abandoned hy Borrower,or if,after notice by L.ender tu Borrower that the condemno�offers to make an _ �_' , �_-��
<br /> � award or settle a claim for damages. Borrower fail�to respond to l.ender within 30 davs after the date the notice is giver,. ,,.�. ,,
<br /> � Lender is autharize�ta collect and apply the proceeds.at iu optioa,either to restoratian or repair of the Progerty or to the sums a;,,,���,,;,�r�
<br /> �..�.�
<br /> . secured by this Security Instruinent,whether or not then due.
<br /> lication of roceeds to rinci al shall not extsnd or �,rL�:...�,-
<br /> - Unless Lender and Borrower othenvise agree in wridng. any app P P P �R._�_ �-..'-� .....�-�
<br /> postpone the due date of the monthly payments referred to in paragrap�s 1 and 2 or change the amount of such payments. -���:-. . 1��
<br /> 11.Borrower Not Relea.sed;Farhearance BY I.ea�der Not a Waiver.Extensian of the time for payment or modifiration „+�
<br /> this Securi InStrument granted by Lender to any successor in interest oC Borro�er shall �� ,'�,,.,,� -�_,--
<br />- of amortization of the sums secured by tY , .������_
<br /> not operate to reiease the liabiliry of the original Borrawer or Borrower s successars in interest. Lender shall not be required to w„ :,;-j��A��--��,
<br /> --- commence praceedings against any successor in interest or refuse to extend rime for payment or otherwise modify atnarti7ation � •.
<br /> of the sums secured by this Seturity Instrument by reason of any demand made by the original Borrower or Borrower's ,-;_::; .�
<br /> � successors in interest. Any forbearance by Lender in eaercising any right or remedy shall not be a waiver of or preclude the _ ..•���
<br /> exercise of any rigltt or mmady. 's�� �' '�`"� + ;
<br /> 1 2. S a o c e�sors and A s s i g ns Bonnd; Joint and Several LIability; Co-signers. The covenants and agreem$nts of this � • F��`�
<br /> Serurity Iastnunent shall bind and beneht the successors and auiSns o f L en der an d B o r ro w e r, s u b j e c e t o t h e p r o v i s i o n s o f . � ;�
<br /> paragraph 17. Borrower's oovenants and agreements shall be jaint and several. Aay Borrower wPto co-signs this Securi ty ',�
<br /> Irtsuument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage,grant and convey that
<br /> ' ' Securi Instrument; (b)is not personally obligated to pay the sums , , .,� ='��•�'•
<br /> Borrower's interest in the Property under the terms of th�s ry _
<br /> secured by this Security lnscrument:aad(c)agrees that Lender nnd any other Borrower may agree to extend,madify,forbear or ;}�,.;�;�;
<br /> make any accammodauons with regac3 eo tfie terms of thi�Sa.u;;.�u.a:.�;,:�:..;.cr�he Note�vithout that Bo*re�,r?r'�ec�nient. •;,�
<br /> `. 13.Laaa Charges-If the loasi secured by this Security Insuument is subject to a la�v�vCnich sets maaimu:n loan chatges. -"' :s�y . "
<br /> :'' U +.
<br /> � and that law is finally intacpreted so that the interest or other loan chacges collected or to be collected in connection ur�th the •' .
<br /> loan exceed the pemutted limits,then: (a)any suc h loan c har ge s h a l l b e r e d u c e d b y t h e a m o u n t n e c e s s a r y t o r e d u c e tha cli a r ge • �:� ••�,-
<br /> to the permitted limit:and(i�)any sums already wilccted from Borro�ver whic�x exceeded pertnitt�litnits will be refunded to �J'��,� � =-
<br /> � ' Borrower. I.enSer may choose to make this refund by reducing th� principal owed under the Note or by making a direct ��:'__---
<br /> payment to Borrower. If a refund reduces principal, the reduction will be urated as a partial prepayment without any �_;�;._-�
<br /> • prepayment chazge under the Note. `i' #''`
<br /> 14.Notices.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing t. s�.�;F==
<br /> � it by first class mail unfless aPPlicable law requires use of another method. The notice shall be directed to the Property�►ddress ,y��.+�
<br /> or any other addmss �anower designates by notice to I.ender. Any noiice to Lender shall be given by first class mail to � tf i�---
<br /> Lendet's address stated herein or any other address I.ender designates by nodce to Borrower. Any natice provided for in this ,_.,��,c,;,�,_,��,�yi,
<br /> �::-:.—=--_---
<br /> Security In�nument shall be deemed tm have been given to Borrower or Lender when given as provided in this paragraph. r�°=•--.>:_.
<br /> 15.Govesning Law+ Seve�s��tY• Th�s Secvrity Instrnment shall be governed by federal law und the law of the , _::•:-_a
<br /> jurisdiction in which ttc�.Property is located. in the event that any provision or clause of th;s Security Instnimert or the Note �'r���•=�_- °
<br /> _ - ;,o;,P.;�s a-it�a�ti�`w i-�;,asrts�sssfli»st'=-�l^-o!=ffe!'t^ther rrov�cions of this Se�:urity Instntmerit or ihe Note whieb can be _
<br /> given effect without tlr:cvnilicting provision.To this end the provisions of this Secnrity Instrument and the Note are dectared __
<br /> to be severable. -�;;-:
<br /> � 16.Borrower's Copy.Borrower shall be given one confor�ns�copy of the Nlote and of this Securiry Inswment. , : , ,._
<br /> 17.TQans[er of the Property os a Beeeflcial Interest in�rr�sser.If all or any part of the Property or any intec�in ia �---,;,. .._:�
<br /> ' • is sold or transferred(or if a beneficial interest in Borrower is so!d or transferred and Borrower is not a natural person)a�s�:out ----__--�,___-
<br /> ',i f,_,..; , -�.
<br /> Lender's prior written consent. Lender may, at its opiion, require imrrza�i;c:� payment in fuq of all s:!ms secured by ihis .:,,; ,
<br /> .. Security Instrument.However,this option shaU nar.Le exerciseti by Lender 6E es:c��ise ts prohibitetl by€e:ii�-.,1:law as of the date ����_ -.._
<br /> of this Security Instrument. - �"-_�_�
<br /> If Lender exercises this optie:��.1'...ender shall give Bonower notice of acceieration.Tz�r,uv�ce shall provide a period of nat h-�-;_---g_-
<br /> , less than 30 days from the date u� n�atice is delivered or mailed within which Bonoa�r •.':st pay all sums secured by this �k��-;�' --
<br /> Securiry Instrument.If�orrower fails to pay these sums prior to the eapiration of this perioc�. I.ender may invoke any remedies ,_�;.�_.
<br /> pemutted by this Se.aui�,Instrument without further noticc or demand on Bo.�Her_ �_°•�
<br /> 18. Bor�w�rg GTight to Relnstate. If Borrower meets certain co:r{�'rions. Borrower shall have the right to have - �
<br /> " enforcement of this Security Instrument discontinued at any time priar to u7e earlier of: (a)5 days lor such other period as �����r.
<br />. applicab3e �aw may sgecify for reinstatement) before sale of the Property pursuant to any power of sale contained in this ���"
<br /> Security irestru:nent:or @)entry of a judpnent enforcing this�:•rair::ty Instrument.Those canditions are that Bonower:(a)pays
<br /> Lender all sums whicr then would be due under this Security Ir.:s.r�ment and the Note as a¢�o acceleration had occutred:(b) ___.,�_ �.� _��•
<br /> ' �. cutes any default of�,:y other covenants or agrezartents: (c) ,7�ys ajl ex�e«s� incurred in e.^.forcing ttus Securiry Instrument, �.-�:-,:,:�,-�:.,', ______
<br /> � • including. but not lim�;ed to.reasonable attomeys'fces;and idl�es suc:axion as Len3�T ri73y ie�'�t-�ly reqwre to assure ..,r.�,�^r�::��-•�.��
<br /> ' that the lien of this Serurity Instrament. Lender's rights in the Property ard c�::rrower s e•a[�gatinn to pay the sums secured by ��;;�� ; . ,,. ,:�;
<br /> this Se�:rity Insuument shall cor.tinue unchanged. Upon reins_atemen[ by Borray�. �i.tis Security Instrument and the t�' �$,��xr!;�- .
<br /> obligativns secured hereby shall rernain fully effective as if no acreleration had occurre�. [�f��:uever, this right to reinstate shall � �fia��fi�:t�i:��•�
<br /> not apply in the case of acceleration under paragraph 17. .
<br /> . � 19. Sale oY Note; Change of Loan Servicer. The Note or a partial iT�erest in the Note (togethet with this Securiry . _ __
<br /> Instrument)may be sold one ar more times without pnor notice to Sorrower. ,� saie may result in a change in the entity(known • ,. � � `
<br />' • as the"Loan Servicer")that cullects monthly payments due under the Note and this Securiry instrument. There alsa may be one .. -rr',�ih�e!SLG'+�". •
<br /> . or more changes of the Loan Servicer unrelated to a sale of the'�ote. I(there is a change of the Loan Servicer. Eorrower will be . . � . _
<br /> � given written natice of the change in accordance with paragraph I4 above and applicable law. The notice wiil state the name and • «.:%f�. '.,-_� �_
<br /> address of the new Loan Servicer and the address to which payments shou!d be made. The notice will also contain any other -..
<br /> information required by applicable law. •''�` '""`�,
<br /> 20. Hazardous Substanc�. Borrower shalE not cause or permit the presence. use, disposal, .torage. or mlrase of any � ''—"°,'� �
<br /> Hazardous Substances on or in the Pmpeny. Borrower shall not do, nor allow anyone else to do, anything affecting the • � > >
<br /> � . Property that is in violation of any Environmental Law. The preceding two sentenecs shall not apply to the pre�enee. use, or . ' � �•. •. . �
<br /> ___ sto!�aoe on the Pmperty nf zmall quantities of Hatardou�Substances that are generally recognized to be appropriate ro normal r -°-r-��-
<br /> � resisiential uses and to maintenance uf the Property. - • ��
<br /> � ' ' Form 3028 9l90 • �'�
<br />. • Payo J o�4 - . ��
<br /> . _ .. . �• - � � ' .
<br /> , � - � ' � . ' . - . � ' .. - . ' � ' .. • � - , ' , . . .
<br /> . • • .. . . l. � ' .. ��. . ' ` •j ' ;•� ' • � , . . \. . . .
<br /> � . - . . ,., ' _ _ . ; . . .. � .. .� .. ' . .. ••Y�, ' . . .. -' .. � . . ... � ..� __ ' . .. . . . . � . .. . '•
<br />
|