|
.s. , �
<br /> .:s
<br /> Y'Rl �
<br /> � . ...A,,,edJu, : i
<br /> • �. �:�yr��. '
<br /> . � .. �
<br /> 1 Borrower may cure euch a default a�d relnatate, es provided In paragruph 18, by causing the actlon or proceeding to be � �,�
<br /> I di3missed with a ruling ihat, In Lender's good falth determination,precludea forleilure ol the Borrower's Interest In the Property or
<br /> � oiher malerial impalrment af ihe Ilon crealed by thls Security Inslrument or Lender's securiry Interest. Borrower ahall Also be In
<br /> defeult If Bonower, during tho loan appllcallon procnss, qave meterir�lly laluu or Inaccurete informatlon or atatements to Lender (ur�
<br /> lailed to provldo Londer with any mateAel fnlormallon) in connectlon wlth the loan evidenced by the Noto, Includinp, but n�t� __
<br /> • Ilmited to. �oprosontatluns concorning Borrowar's occupency of tho PrapeRy ae v pr�nclpel resldence. If lhls 3ecurity� ; -
<br /> Instrumont Ig on a leaaehold, Borrowor ahnll comply wlih ell tho provlslans o1 tho leese 11 Bonowor ecqulren lee tltle to the � � n
<br /> Property.Ihe leasehold end the foo tillo shall not merp� unlean Lender aqreos to tha merger In wriling. A I "�
<br /> 7. PrAt�Ctlon Of Lend�r'a Rlpht� In th� P►oplrty. I18orrower Iulls to parlorm lhe covenants and agrenmenta w ; �`
<br /> contuinod In thls Securlty Instrument. or ihere la e lepel proceedlnp thnt mey elgnlficently aHect Lender's rlghtd In lhe Property �� ,
<br /> (such as a procaoding In bnnl:ruptcy, pro6nte,lo► r.andemnatlon or lortolturn or lo cznlwco lewn or roguletlons). then Lendor may _
<br /> do and pay for whetever Is neceasery to protect the velue of the Property end Lender'e rlghte In the Property. Lendor's actione �
<br /> may Include paying any auma secured by a Ilen whlch hes prlority over thls BecmUy Inetrument, eppearing In coun, paying �� �
<br /> reasonable attomeys' fees and ontering on the Property to make repelrs. Althou�h Lender may teke actlon under lhis paregraph � ,so
<br /> 7. Lander does not have to do so. , ..:._
<br /> Any amounts disburaed by Londer under paragraph 7 shell become addlponal debt of Borruwer secured by this Secunty ,. .
<br /> Instrument. Unless Bortower and Lender agree to other terms of paymem, these amounts shall bear Interest from the date of �, .,. �_ �;;�,
<br /> dlabursement at the Note rate and shuil be payable,wlth Interest upon notice hom Lmder to Bortower requeating payment. • ;fi;•;,�i�,�'�;`ti''�_
<br /> 8. Mortgage i118u1'enCe. If Lender requlred mortgage Insurance es a conditlon af making the loan necured by this ::^,�;�,.
<br /> Socudty Inatrument, Borrower shall pay the premiums requlred to mninteln the mortgage Insurence In eBect. If,for any reason.the ___
<br /> mortgage Insurence coverage requked by Lender lepses or ceases to be In eNect, 9orrower shall pay the premiums requlred to
<br /> obteln coverage substantlaliy equlvalent b the mortgage inaurance previousty In eHed, at e cost substantlaily equNalent to the
<br /> cost to Bonower of the morlgage Insurence prevlously In eHect, from an altemate mortgage Inaurer epproved by Lendec I1 ' ,,,,,F� __
<br /> substantlally equlvalent mortgage Insuranee coverage Is not avallable, Borrower ahall pay to Lender each month a sum equal to I r
<br /> one-twemh oi the yeariy mortgage insurence premlum being pald by Bortower when the �nsurance coverage lapsed or ceaaed to I
<br /> be In eftect. Lender wlll accept, use and retnh these payments as a Ioss reaerve N Ileu of mortgago Insurance. Losa reaervo �
<br /> th t Lenderr aequir s)prov ded byran insurer�epp o edLbydLender�againgbeco es ave9able snd'Istobtalnednt Bo ower shall pay
<br /> the premlums requlred to melntain morlgega Insurance In eHect, or to provlde a loss reservo, untll the requlrement for m4rtgage
<br /> insurance ends In accordance with any wtltten agreement belween Borrower and Lender or eppllcable lew.
<br /> 9. II1Sp8Ctlotl. Lender or fts agent rney make reasonable entdes upon end inapectlons of the Property. Lender ahall give -
<br /> � Bortower notice at the tfine of or prlor to an Inspectbn speclfying reasonabie cause fa the Inspection. �
<br /> 1 Q. Condemnation.The proeeeds ot any award or clalm for damages, direcl or consequentlal, tn connectlon wkh any � � ��
<br /> condemnatlon or other taking ot any pe� of the Proporty, or for conveyance in Ileu of condemnation, nre hereby assigned and .,�� _,. T
<br /> shnll be peid to Lender.
<br /> In the event of a total taking ot ihe Properly, the proceeds shall be applled to tho sums secured by this Secu►ity ��;� ;��'`
<br /> r -'.
<br /> Inatrument, whether or not then due, wiih any excess pald to Borro�ver. In the event of u partial taking oi the Property In which ��� ', � '+!��2'�;
<br /> the fair market value of the Property itm�ediately before the taking is equal to or greeter thnn the amount ot the sums secured ,� �.�.i�'�=
<br /> by this Security Instrument knmedlately before the taking, uniess BoROwer and Lenqer otherwise agree in wriliny, tt�e s�ns -- �-
<br /> I secured by this Security Instrument shel be reduced by the amount of the prxeeds mulllplled by the following fractlon: (a) the f - `�C`• .
<br /> total amount of the sums secured knmedatey before the taking, dlvided by (b) the idr market value of the Properly immedlatey �R
<br /> o e in which the falr market ' �'� •'�.
<br /> � before the taking. Any balance shall be paid to Borrower. In the event of a partial tekhg of the Pr p rty :���t:
<br /> value of the Property Immedlately beforethe taking Ia less than the amount of the sums secured Immedtately before the taking, '+
<br /> k."t�.w
<br /> unleus Borrower and Lender othervvise agree In writing or unless applicable law othenvise provides, the proceeds shall be , .tc��_
<br /> applled to the sums secured by this Security Instrument whether or not the sums arethen due. � �;;A;:
<br /> If the Property Is abandoned by Barower, or If, after notice by Lender to BoROwer that the condemnor ottera to meke ln
<br /> � award or serile a claim for damsges, Bor�ower faAs to respond to Lender withln 30 days aRer the date the notice Is given,
<br /> ' Lender Is authorized to collect and appy the proceeds, at fts optlon, eilher to resloratlon or repalr o}the Property or to the ��
<br /> �� � sums secured by this 3ecudly InstrumeM,whether or not then due. !µ�_
<br /> �. ..w�
<br /> Unless Lender and Borrower othawise agree in wdting. any eppllcatlon of praceeds to p�inclpal shall not extend or -��
<br /> �• postpone the due date of the monthly peyments referred to In paragraphs 1 and 2 ar change the amount of such paymenta. �„----
<br /> " 11. Borrower �iot Reloesed; Forbearance By Lender Not a W�iver.Extenslon ot the tlme for payment or � -
<br /> modiflcatlon ot amortization of the suma secured by this 3ecudty Instrument granted by Lender to any succesaor In Interest of E •_°='��
<br /> •7 Borrowor shail not operate to release t�e IfabNity of the odglnal Bortower or Bortower's auccessors In Interest. Lender shall not �;;-
<br /> � be requlred to commence proceedings against any auccesaor in Interest or refuse to extend time for payment or othervvise ,';;;;_.�
<br /> �� modity amortizatlon of the sums secured by lhis Seeurity Instrument by reason of any demQnd mede by the originel Borrower or � �?��
<br /> ;�, Bortower's successors In Intereat. Any forbearance by Lende; in exorcising any �ght or remedy shall not be a waNer of or _-�—
<br /> �� preclude the exerclse of any right or remedy. ---°�
<br /> " 12. Successors and Aasigns Bound; Jotnt and Severai Ltability; Co-signers. The covenents and
<br /> agreements oi this Security Instrument ehall bind and beneflt the successors and asslgns of Lender and Borrower,subJect to the s=: .-._ -_
<br /> provisions of paragraph 17. Borrowera covenants and agreements shall be Joint and several. Any BoROwer who co•aigns thls �-F. �}s;`;-�¢'=
<br /> Security Instrument but does not execWe the Note: (e) Is co-slgntng this Security Insirument only to moKgage, grant and convey �Q
<br /> �- '
<br /> .�.�:::•,.,.
<br /> that Borrower's Interest In the Pro e under the tertns of thls Securf Instrument (b) Is not personali obll ated to a the :;,• ����•
<br /> P �'�Y tY Y 9 p Y ��,', .,.�-;.v+t, �.
<br /> sums secured by thls Security Inatrument; and(c) agrees that Lender end any other Borrowar may agree to extend, modfly, ';�� =:"���:;��
<br /> •�::j�:• ...�� �
<br /> forbear or make any accommodetlons with regard to the tertns of thls Security Inswment or ihe Note wRhout that Borrower's • • �
<br /> consenl. �;�'`
<br /> 13. Loan Cha��ee. If the loan secured by thls Security Instrument is subJect to a law which sets mexlmum toen � . .�:
<br /> , charges, end that law Is fineAy Interpreted so that the Interest or other loan charges coNected or to be collected In connectlon _
<br /> with the Ioan exceed the pertnitted IirnNs. then: (a) any such loan ctiarge sheil be reduced by the amount necessary to roduce
<br /> the cherge to the pertnitted Ilmit; and (b)eny sums already collected irom Bonawer which exceeded permltted Iimftcc wlll be
<br /> refunded to Borrower. Lender may choose to meke thfs refund by reduGng the p�ncipal owed under the Nate or by making a
<br /> ! direct payment to Borrower. If a re(und reduces princlpel, the reductlon wlll be ueated as a partlal prepayment without any
<br /> � prepayment cherge under the Note.
<br /> i 14. NOtiCee.Any notice to Bonower provided for in this Security Instrument shall be given by delivering It or by melling it
<br /> i by first class mail unless upplicablo la�r requires use of another method. The notke shall be directed to the Properly Address
<br /> , or any uther address Borrower designetes by notice to Lender. Any notice to Lender shall be glven by ilrst class mall to
<br />- i a��a•� add.acc statnd hereln or anv other address Lander desfpnates by notice lo Bortower. Any notice provided for in thls
<br /> Socurity Instrument shall bc deemed to have been grven to Borrower or Lender when given as provided In thls paragreph. � - -
<br /> 15. Cioverning Law; Sevefeblllty. This Security Instrument shall be govemed by tederel law and the law ot the
<br />= jurisdictlon In wlifch the Property Is laated. In the event that any provision or clause ol this Security Instrument w the Note
<br /> ' confiicis with applicable Inw, such conlFCt shall not aHect other provislons of thls Securily Instrument or the Nole which can be
<br /> - given eBect withoul the contlicting pror�sfon.To lhls end lhe provlslons of this Secudry Instrument and the Nole are declared to
<br /> - be severt�ble.
<br />, 16. Bor�owe��s Copy.Borro�Yer shali be given one confomied copy of the Note and of lhis Security Insirument. �
<br /> 1, ' /;
<br /> _ ,.�,,..��, . �'�.�, , ��, _ '!�'�, �,�2� ' �
<br />
|