|
eNi*N• • •
<br /> :�q41 „ +� "-
<br /> J , � +wllr.- -
<br /> ..�Ae .^ . � ' ' . ..
<br /> . 7. Protection of Lender's Rights in the Property. if sorrower ia�is �o pertorm �ne cove�an�s and agreements
<br /> contained in tnis Security Instroment, or there is 8 lepel proceeding that may slpn(f�Hniry aBect Lender's rights In the Property(such as �
<br /> e proceeding in bankruptcy, probate, for condemnation or farfefture or to enforce laws or rsgulatlons),then Lender mey do and pay lor _
<br /> jwhatever is necessary to protect the value o} the Property and Lender's righls In the Property. Lender's actlons may Include payNg _,
<br /> , any sums secured by a Ilen wh�Fi has prlority over Ihis Security Instrument, appearing h Court, peying reasonable attorney's fee3 and
<br /> � entering on the Property to m8k8 repeks. Althouqh Lender m8y t8k8&Otion under thls paragreph 7,Lender does not have to do so. ==-
<br /> My amounts disburged by Lender under this pflragrgph 7 shall bBCOme addktonel debt of Borrower secured by thls SeCUrity 1��
<br /> � Instrument. Unless Borrowor and Lender aqree to other terms of payment, these tmounts shall bear Interest from the date of ___
<br /> � � disbursement at the Note rate and shall be payabla, wilh Interest,upon not�e hom Lender to Borrower requestin8 PBYment. -
<br /> 8. Mortgege Insurence. If Lender required mortgage Insurence as a conditlon oi making ihe �oen secured by this Securdy _
<br /> I Instrument, Borrower Shall pay the premfums required to malntaln the mortgaQe InsuranCe h eftect. If, tor any reason, the mortqe��
<br /> insurance coverage required by Lender lapses a ceases to be In eNect,Borrower sha!pay the premlums regufrctd to obtafn covera��
<br /> , substAndally equivalent to the mortgage insurance previousy in eHect, at a cost substantialiy equNaient to the Cost to Borrower of th�"`
<br /> " mortgage Insurance previously in eHect, trom an altemate mortgage insurer approved by Lender. if SubstBnt�elly equNalent mortpepef
<br /> � Insurance coverage is not available, Borrower shali pay to Lender eBCh month a sum equal to one-tweMth of the yearly mortgepo •��
<br /> � insurance premium being paid by Borrowar when the asurance coverege lapsed or ceased to be h eHect. Lender wlll accept,use and V
<br /> i relafn these payments ae a loss reserve in lieu of mortqago Insurance. Loss reserve pRyments mey no lonper be requked, at the �
<br /> optbn of Lender, k mortgage insursnce coverege (h the amount end for rha periad that Lender requkes) provided by en Insurer Q
<br /> approved l�y Lender agaln becames avallable end � obtained. Borrower shel pay the premluma requked to mnlnteln moRqApe �
<br /> • insurance In eMect, or to provlde a loss resene, uMY the requkement lor mortpape Insurence ends In accordance wilh any wrNlen
<br /> ' agreement between Borrower and Lender or applicable law. �
<br /> � 9. Inenectton. Lender or Its egent may meke reasoneble entries upon end hspect�ons ot the Property, l.endor shali qlvo
<br /> t Borrower notice at the time of or prlor to an fnspectlon specityinp reesoneble cause for Ihe fnepecllon.
<br /> 10. Condemnation. The proceeds ol any ewerd or CIeM lor damages, direct Or consequen�lal, In connectlon w@h eny
<br /> condemnation or other taking of any part of the Property,or for conveyanca In �ieu of condemnetlon, are hereby asslyned 8nd 8h811 be =
<br /> ' paid to Lender. -
<br /> In the event of a total taking of the Property, Ine proceeds shall be applled to Ihe 8ums secured by this Security Instrument,
<br /> whether or not then due, with any exCess pald to Borrower. In the svent of a partial takinp of the PropeRy M� whbh the fak market
<br /> vaiue of the Property tmmediateiy before the lakinq Is equal to or greater than the emount af the sums secured by this 3ecurRy
<br /> Instrument irnmediately before the takinp, unless Bortower and Lender othenvlse agre9 In writing, the nums secured by this Security
<br /> Instrument shall be reduced by the amount of the prviceeds muftlplied by the foliowinp hactlon: (a) the total amount of the sums � ,
<br /> �, secured Immetllately betore the taking, dNbed by (b)the fak market vabe of the Property Mmedlatey betore the tekinp. Any balance �--
<br /> shall be paid to Borrower. in the event of a partial IakNq of the PropeRy In wh�h the fak market value of the Property knmedletely �:
<br /> t before the taking Is less than the amount of the suais secured immedlately before the taking, uniess Borrower and Lender otherwlse =
<br /> '� agree In writing or unless appllCable law othenvise provldes, the proceeds shaA be epplied to the sums secured by this Secur'Ry __
<br /> Instrument whether or not the sums are then due.
<br /> If the Property is abandoned by 8orrower,a if,efler not�e by Lendar to Bonower that the contlemnor otters to make an award or �^
<br /> settle a claim for damages, Borrower fa11s to respond lo Lender within 30 days aRer the date the not�e is given, Lender i� euthorixed �•-
<br /> to collect end apply the proceeds, at its option,either to restoration or repair of Ihe Property or to the sums secured by this SecurRy �r--
<br /> Insirument,whether or not then due. �_
<br /> Un�ess Lender and Borrower otherwise agree in wrlting, any application of proceeds to principal shaN not extend or postpone the _-----
<br /> due date of the monthly paymentc reterred to in paragraphs 1 and 2 or Change the amount of such payments. _ -
<br /> 11. Borrower Not Raleased: Forbeerance By Lender Not e Weiver. Extension ot me cime for payment or �
<br /> modit�atbn of amortizatlon of the sums secured by tnls SecurRy Inslrument grented by Lender to any successor In interest of Bonowar �.
<br /> shall not operate to release the Ilabllity of the origtnal Borrower or BoROwer's successors In Interest. Lender sheil not be required to ��-
<br /> � commence proceedings aga�nst any successor N intwest or retuse to extend 14ne for pflyment or otherwise modNy amortizetbn of the -�--
<br /> sums secured by thls Security Instrument by reason of eny damand made by the orlglnel Borrower o� Borrower's successors in =-_.
<br /> interest. Any forbearance by Lender in exerCis��g any right or remedy shall not be a weNer of or preClude the exerCise of any ripht or �r�`�___
<br /> remedy, `��
<br /> � 12. Succeasors end Assigns Bound; Joint and Several Liebll(ty;Co-signers. The covenan�s and �'-�=_—�
<br /> ' agreements of this Security Instrument SheA bind and beneflt lhe suCCessors and asslgns of Lendsr end Borrower, subject to the
<br /> �, � provisions of peregraph 17. Borrower'S Covenanls and agreements shall be )oht end several. Any Borrower who CO•slgns thls SeCUrity ,���
<br /> x . Instrument but does not execute the Note: (a) ts co•spning this Security Inslrumenl only to mortgeye, qrant, and convey that �
<br /> Borrower's interest in the Property under the terms d this Security Instrument; (b)Is �at personally obllgated to pay the sums aecured �';�
<br /> ,i9.` __::z.•_
<br /> � ` by this Security Instrument; and (c) agrees thet Lender end any other Borrower may agree to eztend, modify, torbear ur make any _=- -°—°°�
<br /> accommodations wfth regard to tenns of thls Security hstrument or the Note without thet Borrowers Consent. _ _ _
<br /> 13. Loan Charges. i� ►ne ioan secured by this Security Instrument Is subjeCt to a �aw wh�h sets maxknum ban cherpes, .�;:E{,�.,�
<br /> and that law is 4lnally tnterpreted so that Ihe mleres�or other loan charfles coliected or to be collectetl u� connectbn with the loan °�=:�•�
<br /> exceed the permitted limits, then; (a) eny suCh ban charges shflll be reduCed by the emount necessary to reduCe the charge to lhe ��'�=a��•;
<br /> Y"� �� '
<br /> permitted Iimit: and(b) any sums already codected from Borrower wh�h exceeded perm�ted Nmfts will be relunded to BOrrower. Lender �,�?`�:�•.-� _
<br /> may cnoose to meke this refund by reducing the prnC�pei owed under the Note or by making e d�rect payment to Borrower. If e •�• °°�•: ��
<br /> re�und roduces prinCipal, the reduction wili be treated es a parti9l prepayment without any prepayment Charge under the Note. ' .
<br /> 14. NOtIC@S. Any notiCe to Borrower provided tor in this 58curity Instrument shell be given by dofivering it or by mailing It by , " .
<br /> fvst c1a55 mail unless applict3ble law requ�res use ol anolhor method. The notlCO She� b@ dlreCted to the Property Addres5 Or 8ny •
<br /> other address Borrower des�gnates by notice to Lender. Any not�e to Lender shall be given by tirst class mflil to Lender'S address
<br /> stated here�n or any other addre55 Lender designates by notiCe to Bo�rower. Any notke provided for in Ihis SeCUrity InStrument Shall
<br /> be tleemed to have beon given to Borrower or Lender when given ns provlded hi ihis pe�8greph.
<br /> 15. Governing Law; Severebility. This 5ecurity InStrument shnll be govorned by fede�al law and the law of the
<br /> �uristliction in which the Property �s iocnted. In Ihe e�ent thnt any provislon or clsuse of thls Security Instrument or the Note conllicts
<br /> w�tn appi�cable inw, such confi�ct shail not aNect olher provisions of thfs Secunty Inslrume�t or Ihe Nole whfch can be gNen ehect
<br /> wdnout tne conflict�g provision. To this ond the pr4w5iqn5 O�thlS SOCUrity Instrument end the Note are dec�ared to be severabie.
<br /> . 16. Borrower's CopY. Borrower SheM be 9Nen one Conformed Copy of Ihe Note end of this Security Instrument.
<br /> 17. Transfer of the Property or a Beneficial Interest in Borrower. u en o� any part o� ►ne �ropeny or nny - "
<br /> intory:t in it �s sold or t�anS�e�red (or if p benelk:itllnterest in Borrower is SO�d or trBnSfprrBd �nd Borro�ver is not a n8tur8� p0rson)
<br /> wqhout Lentler's pricr wrftten consenL Lender mey, el its opt�on, require mmedlate payment in futl of all sums secured by this SeCUrity
<br /> Instrument. However, this oplion shall not be exerciSBd by�ender if exercise is piohibiled by fede�al 13w as of the date of this Security
<br /> Instrum�nt.
<br /> If LBnder ex�+rc�ses Ihis option, Lentler shall gne E3o�rower nol�Ce o� 3CC9�8r8tlOn. Th8 nOtiCe shall provide a perbd 0� nOt �055
<br /> than 30 days Irom Ihe dnte the noUce is aelivered or ma�led within whkh Ihe Borrower must pay all Sums secured by this SoCUdty
<br /> Insirument. II 8orrower lails to pay Ihese sums prior lo the expiretion of Ihis pe��od, Lender may nvoke dny remedies permiRted by lhis
<br /> Sew�dy �nslrument w�thout�urtho� not�ce o�dc�mond on BOffOWQI'. �'crm�028 9180
<br /> �ia:v i A+i��,e v/� Paqo 9 0�5
<br /> i
<br /> .,aa
<br />
|