|
. . �.
<br /> :�:.a � .
<br /> t+NH�r
<br /> . .1��r�7�r,�A../ . �' "'I "�� ' +¢.-.. �
<br /> � .. , . . -r.�r`—; .
<br /> I .. '�_.i.s..
<br /> `•':�'-�v=
<br /> � 7. Protection of Lender's Rtghta in the Property. u �orrower fa�s co pe.�am �ne covenants and agreements "�'}''
<br /> � contained in itils SeCUrily Inetrument, or there is a iepal prOCeedhy thal mey SIgnY'a8nlly aHeCt Le�ders r{ghts in the Propeny (BUCh as �:Y
<br /> � � a proceeding In bankruptay,p�obete,for Condemnatlan or IoAafture or lo enlorca laws or repu�At�ans),then Lender may do nnd pay for
<br /> 1 whetever is neces68ry to protect the value of the PrOperty and Lende�s rqhts n the Property. Lsnder's flctlons may includo payfng � , —
<br /> any sums secured by e Ilen wh{ch has prlority over thls Securfty InsWmenl,appearing In court,payin8 reasonable attorney's lees and �
<br /> � entaring on the Property to make repaks. AkhAUph Lendor may take actlon under Ih is perayreph l, Lender does not heve to do so. ' _
<br /> Any ernounts disbursed by Lendar under thls paragraph 7 shes becoma edditbnal debt ol 9orrower secured by thls Sec���ity
<br /> Instrument. Unles6 Borrowe� end Lender aqree to othe� terms ol payment, Y�ese amounts shaA bear interest from the date ol � _
<br /> � disbursement at the Note rete and shall be payabla,w4h interest,upon notke tran Lender to Bonower requestlnp payment. � �
<br /> $. Mortgage Inaurnnce. II Lender required mortgege Inaurenae es a condabr� ol mekhg the loan secured by this Security
<br /> Instrument, Borrower shall pay the premiums required to maintaln the monpape Insurance In eNect. If, for any reason, the mortyafle �
<br /> hsurance coverage requked by Lentler lapses or ceaees to be In eNect, Barower shall pay the premlums requked to obteln coveraye
<br /> � �� substnnt�ally equHelent to the mortg8g8 InsurBnce previously in eMect,et 8 Cost bubstentlally equNalent to tha Cost to BorcOwer ot the � -
<br /> � mortgage Insurance prevlousy in eltect, hom an aRerneta mortqaye Bsurer apwoved by Lender. II substantialty equNalent mortyaqe �
<br /> fnsurance coverage Is not availabie, Borrower shali pay to Lende� esch montA a sum equal to one-twelkh of the yeary mortqaye ,
<br /> j hsurance premium being pald by Borrower when the hsurance coverege Iapsed a ceased to be In enect. Lender will aacept, use and �, �
<br /> retaln tBese payments as e ioss resene In Iieu of mortgage Insurance. Lossreserve paymeMs mey no longer be requked, at the ,�^.. L,
<br /> optbn of Lender, if mortgage insurence covera4e (In the amount end ta the perbd thet Lender requkes) provided by an Inaurer : ��-._:_
<br /> approved by Lender agu� becomes available and IS obtained. Barower she�l pay the premtums requked to maintain mortgaye ,,,;:�?.�:�:
<br /> Insuranca In eHect, or to provide a loss reserve, unUl the requYement for monpage insurance ends In accordance with any written , *� Y"��=7
<br /> agreement between Borrower and Lender or appl�Cable Iaw.
<br /> 9. Inapection. Lender or its agent may meke reasonable entries upa�and inspectians of the Property. Lender shall gNe ,,;`-;� _
<br /> � Borrower notice 8i tha tlme of er prlor to an inspeCtbn speci(ying reasonable aause for the Inspection. •°''
<br /> 10. Condemnation. The proceeds of any award or claim for darnepes, direct or consequentiel, in connuction wlth any .
<br /> �� condemnatlon or other taking o(any part of ttie Property,or for conveyance in feu o�condemnalbn,are hereby asslgned and shaA be
<br /> _�: peld to Lender. =r`..
<br /> �i In the event ot a totel takfng of the Property, the procee�s shell be app�ed to the surns sewred by thls Security Instrument. ,
<br /> � � whether or not then due, wRh any excess pald to Borrower, in the went of e paAlal taklnp d the Property � wh�h the fair merket
<br /> value ol the Property knmedlate�y belore the taking is equal to or praatu then the amount a the sums secured by this Security ;�,��c
<br /> �i Instrument Immedlateiy before the taking, unless Borrower and Lende� otherwlse agree In writ„g� the sums secured by this SeCUrity �„
<br /> � ; Instrument sh811 be reduced by the amount of the proceeds multip62d br the foibwing haclbn: (a) the totel amount af the sums '3°�,:K`
<br /> �.� secured immediately befora the taking, dfvided by (b) the fac mnrket value of the Property rnmediately before the taking, Any balance 3�C;° v
<br /> � shall be pe�tl to Borrower. In the event of a partlal taking of the Properly In which the fak market value of the PropeRy �mmedlately �A���•��..
<br /> before the teking is less than the amount of the sums secured immediatey be�o�e the taking,unless Borrower and Lender otherwlse
<br /> �t`..,.�—m:
<br /> �` agree in wrNing or unless appllcable Iaw othervvise provides, the proceeds shell be applled lo the sums secured by this SeCUrity ���
<br /> _ !r.s:rument wherhar or not the sums a�e then due. ---
<br /> H the Property Is abandoned by Borrower,or if,after not�e by Lender lo Barower that ihe conaemnor offers to make nn uwaid ur
<br /> settle e clnim for damages, Bortower tails to respond to Lender within 30 deys eker the dato the notfce Is gNen, Lender is 8uthorized
<br /> to coliect end apply the proceeds, at its option,efther to restoration ar repafr d the Propedy a to the sums secured by this Security _
<br /> Instrument,whether or not then due. °-
<br /> Unless Lender and Bonower otherwise aqres In wrftlny,any appGcatlon of aoceeds to principal shall not extend or postpone the
<br /> ' due date of the monthly payments referred to in paragraphs t and 2 a chen8e ihe emount Of eucF� payments. --- _ —
<br /> 11. Borrowcr Not Released: Forbeerence By Lender Not e Wetver. Exlensbn ot cne t�me ror payment or _
<br /> {; moditkatlon of amortiratlon of the sums secured by lhis Security InsWmenl granted by Lender ta any successor in Interest of Bortower --
<br /> , ,� shall not operate to release the Iiability o(the original Borrower or Borrower's successors h Nterest. Lender shall not be requtred to
<br /> commance proceedings agalnst any successor In interest or reluse Io extend tMe for payment or otherwise modlty amortlzation of the �,
<br /> ' � sums secured by this Security Instrument by reason ot any demend meda by ihe orighal Borrower or 8orrower's suCCessors h -
<br /> g interest. Any forb88rance by Lender in exerclsfng any riqht or remedy s he�n ot be e waNer of or preclude the exercise of 8ny right or
<br /> ��' remedy.
<br /> ' 12. Sucaesaors end Assigns Bound; Joint and Seve�al Liabiltty; Co-signers. The covenan�s and
<br /> agreernents of thls Security Instrument shall bind and benefR the successors a�d assigns d Lender and Borcower, subJect to the
<br /> provlsbns of perayraph 17. Borrower's covenants end ayreements shall be joinl a�d several. My Borrower who co•sipns this Security _ -
<br /> � Instrument but does not execute the Note: (a) Is co•slpning thb Security hstrument onty to mortgage, grant, and convey that _
<br /> 8ottower's Interest in the Property under the terms of thls Security �netrument;@) is not personaily oblfgeled to pay the sums secured __
<br /> � by this SeCUrity Instrument; and (c) agrees that Lender and any olher Borrower may apreo Io exlend, modily, torbear or muke any -_- -
<br /> eCCOmmodat�ons wRh regard to terms ot this Security Instrument o�the Nole wihout that BorroNer's consent.
<br /> � 13. Loan Charges. If the loan secured by thls Security Instrument B SubJect to a�w wh�h sots maximum loen Charges, __ _ __
<br /> and that law is �i�ally Interpreted so that the �terest or other loen Charges cdlected or to be collected in conneCt�on with the loan ",.,� _
<br /> ,r- � .
<br /> exceed the permitted Iimits, then; (a)any such loan Charges shall be �eduCeA by ihe 8mou�1�eCes58ry to reduce the charge to the :��
<br /> permitted ���t; end (b)any sums already Coliected from Borrower whbh exceEded permitted Iirnls wlll be refunded to BorrOwer. Lender �4 ��:yy:
<br /> mey choose to make this retund by reducing the principal owed u�dsr ihe Note or by makng a dlrect psyment to 8orrower. If a ,, ,�.
<br /> retund roduces princ�pel, the reduClion will be Ueated as a partial prep8yment wlhout any prepepnent charge under the NOte. . _ti-,•, `+� � '
<br /> t..._ ,
<br /> 14. Notices. Any not�Ce to Borrower provided for fn thls Seau�fly Inswment shall begNen by delivoring ft or by m3iifnq ft by •. •x�:..,�.���_.. ;,
<br /> first class mall unless eppucable law requlres use of another metho0. The nollce shall be d�ected to the Property Address or any �!'�+y, '.c�' .
<br /> other address 8orrower designates by nutice to Lender. Any notke to len der shaY be gNen by fust cless mafi to Lender's adGress � :
<br /> stated hereln or any other address Lender deslgnetes by notfce to Bo�rower. My notice prodded lor in this Secu��ty Instrument shall .
<br /> be deemed to have been given to 9orrower or Lender when given as provided h this paragrap�.
<br /> 16. Governing Law; Severabltity. Tn�s securny InsUumenl sha� te governed by federel �eW a�a tne �aw ot tne
<br /> jurisdklion in whiCh the Property is bcated. In the event that eny qovisbn a ctause of this SeCUrity Instrument or the Note ConfliCtS
<br /> with epplfceble law, such conflict shell not aNect other provisions o� th15 Security Instrumenl or ihe Note which can be gNen eNect
<br /> wlthout the confliCting p�ovislon. To ihis end Ihe provisbns of this Security Inslrurnent and the Note are dec4lred to be sever8b�8.
<br /> �a Rnrrnwar's Cot�V. Borrower shall be given one cortilo�ed copr of the Noto ond of ihis Security InSlrumenL l
<br /> .... __.._--- -
<br /> 17. 7ransfer of the Property or a Beneficial Interest In Borrowe�. If e� or any p8rt of the PrOperty or erty '""`-
<br /> mleresl �n d is sold or transfe�red lor il a b8n8ffCifll fnterest in Lionower is Sdd o�transferred and Borrower IS nol 8 natural perso�)
<br /> without Lende�s pnor writlen cons9nL Lender may,at itS option, require Imrr'�ed�ate payment in lu 11 a�all sums seCUred by this Securily
<br /> instrumont. However,this option shall not be exercised by Lander il exercise B prUh�bited by�ederal law es of ihe date of this Secur�ty
<br /> Instrument. I
<br /> II Lender exercises ihis option,Lender shell give Borrqwer nolCe ol aCte�erelion. The nOtiCe ShaM provide a period ot not less
<br /> than 30 dIIys trOm ihe d8td the not�co �5 delivered or mailed witha which the Borto�ver musl pt3y all sumS SecurBd by thiS Secu�dy �
<br /> Instrument. If Borrower fads to pay those sum5 p��or t0 the expiratlon ql Ih�s p0riod.Lender mey invoke nny remed�es parmitted by th�s �
<br /> Securdy InSU�ment wdhout further nOliCe or damanq on Borrower. ����� aofa •,eo ,
<br /> 1 iU"I�IMI{I�O,H7� 14q� 3 ci s �
<br /> L.. .. _ . . .. . . -
<br />
|