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<br /> Borrower may ci:re sucn a dafeuC� and s�ss�te. � piovidpd �n �araaraoh tB- by causmg the action or proceeding to be . _ _ _ __
<br /> � reGudes forlflRure of the BaROwer's mterest u� the Property or �"�"��''-'
<br /> dismissed vrRh e ruting that.m Lender's goaG faith delermmation, p _-_
<br />- other matedal impa'ument of the lien created by this Secunty Instrument or Lenders security mterest. 8orrower shail also be m � '"� _ . _
<br /> default if Bortower. dudng the loan application process. gave ma4enaliy talse or�rtaecurate mformaUon or stetemenis to Lender(o► ` _
<br /> tatled to provfde Lender wdh any matedal infortnationl in connecUon with the loan ovidenced by the Note. mcluding. but nat }.�� . . '� .` ' �__
<br /> Ilmited io. representatlons eonteming Bortower s occupancy o1 the Property as a pdndpal restdenee. I1 tha� Securily � , �;:
<br /> � instrument is 9n a teusefiold. 8ortowar shaU compty with ali the provisions o1 the Iease. �� 8artower acquires fee title to they , ,
<br /> Property.the leasehold and the fee tltie shufl not merge unless Lender agraes to the merger In wriUng. � „ . �
<br /> 7. Pro4ecttan of Lender's Fifghts In 4he Properiy.it Borrower taits to FeAorm the covenants and agreements � , . .
<br /> contamed m th�s Security Instrument. or there is a legal proceeding that may significanity aHect Lender s nghts m the Property� .� _
<br /> (such as a proceeding in baniwptcy, probate,tor condemnatian ar toAeiture or to entorce laws or regulaGonsl. then Lender may� , � °
<br /> do and pay for whatever is necessary to protect the value of the PropeAy and Lender's nghts in the Properry Lender's actians� � .
<br /> may mdude pay�ng any sums secured by a lien which has priortry over th�s Securtty InsUument. appeanng m court. paymg� — - � -
<br /> reasonabie attomeys'fees and entaring on the Property to make repairs.Afthough Lender may take acaon under this paragraph.� � �
<br /> 7. lender does not have to do so. � �
<br /> My amounts d�sbursed by Lender under paragraph 7 shall 6ecome additional debt of Borrower secured by this Securrty -
<br /> Instrument Untess 8onower and Lender agree to other terms of payment, these amounts shail bear interest from the date of . . .
<br /> � disbursement at the Note tate and shall be payable,with interest.upon noUce from Lender to Bortawer requesting payment . , _
<br /> 8. Mortgaga Insuranee. �f Lender required mortgage insurance as a candition of making the loan secured by tfiis �� ,. , `=, �;
<br /> Security InstrumenA 8orrower sha11 pay the premiums required to maintain the mortgage insurance in effeU. If,for any reason,the . ;;..�y���R_,,,,,,;�,�„�
<br /> mortgage insurance coverage required by Lender tapses or ceases to be in eKect. Borrower shall pay the prem�ums required to . - ----
<br /> =..,:_:.
<br /> obtafn coverage substanSially equivaient to the mortgage insurance previously in eftect. at a cost substentially equivalent to the �� :__^
<br /> cost to Borrower of the moRgage insurance previously in effect. fi'om an attemate mortgage Insurer epproved by Lender. B ,�_,��_� •_
<br /> . substantialty equivaleM mortgage insurance covera9e is not ava�lable, Bortower sha11 pay to Lender each month a sum equal to • ',_�_5_;__---
<br /> '- on�:e+:eYrth of the yearly mortgage insurance pr�nium being paid by Borrower when the insurance coveraqe lapsed or ceased to „�• g,�.q_ ,.__.._
<br /> be c�e°ect Lender vrill accept, use and retain these paymants as a loss reserve in lieu of moRgage insurance. Loss reserve � �=:�=-
<br /> pa}-r.srrss may no I¢;�2r be requ'ved. at the option of Lender. if maRgage insurance coverage (n the amaunt and tor the penod ' , . �..;�R-
<br /> i ; Y'�'-. -�.�,:�:
<br /> Lha; 1�3er requires) provided by an insurer approved hy Lender sgain becomes availabte and Is obtalned. Bcrrower shal pay ; . ,,_�,:__
<br /> the p:�mivms required to maintaai r..�rtgage(nsurance in effect, ar to provide a loss reserve, unUl the requtremant far ma��ge
<br /> insuranae ends in accordance w';� any�vritten agreemertt between Borrower end Lender or applicebfe law. ..� � x�-�'��1-"
<br /> =•.�-��y
<br />� �. Inspectlon. Lender or;fs agxnt may make reasonable entrfes upoa and inspectians of the Properiy. Lender shall give -�-a .�� . ..a
<br /> _ � $.•f�' ,�•.._,�.
<br /> Bartower noUce at tha time of or pr.ar to an inspeclion spedlying reasonable cause for the inspectlon. ,�•�.� ���.
<br /> 10. Condemnation. The proceeds of any award or clalm tor damages, dired or c�,nsequentlal, (n connec6on with any �,� �
<br /> condemnation or other taldng of any part of the Properiy, or for conveyance in lieu of condemnation,are hereby assigned and .:: ` ;__...
<br /> sh�'1 be pald to Lender. ` r .,.f�:;; ,�:-
<br /> .,,�•,-,;:<•
<br /> ir the event of a total taking of the Properry, the proceeds shall be applied to the sums secu;eci by thfs Security . �- -'��•:. ';` ,'�l-.•�.
<br /> Instrument,whether or not then due,with any excess paid to Borrowec In the event of a partial teking of ths Properiy in whlch •�;�:^f�_4::. .�� 'r f.� ,,;
<br /> -, j the fair market value of the Property tmmediately betore the taking is equal to or greater than the amount of the sums secured _ � .,= ' �: ,..-
<br />�_;t by ths Securily Instrument (mmedlatety before tbe taldng, unlesa Bortower and Lender otheiwise agree in writing, the sums '%�!c` �'v.'='
<br /> seourad 6y th(s Securtty InsVUmeflt sfia11 6e reduced by the amount ot the praceeds mulUplied by the following tractlon: (a) the ;
<br /> total amount of the sums secured immediately before the tal6ng, divlded by (b) the fair market value ot the PropeRy Immedlatety ' ,. . �,;;� ,:..
<br /> , ; beTore the taWng.My balance shall be patd to BoROwer. In the event o}a partlal taking of the Properly In whlch the tatr market „�, ���:� ;`:
<br /> '�:� ..•
<br /> • value of the Property Immediately before the tatdng Is less ths,�n the amount of the sums secured immediately before the taldng,
<br /> h •'
<br /> unless BoROwer and Lender otherwlse agree tn miting or unless applicabte Iaw othenvise provldes. the proceeds shal! 6e =_�6�.•'`
<br /> ,. apptted to the sums secured by this Sscurfly Insbument whelher or not the sums are then due. " ''•
<br /> fl the PropeRy fs abendoned by Bortower,or B, efter notice by Lender to 8ortower that the condemnor o8ers to make an '`r��?�°--
<br /> • award or settlo a ctaim tor damages, Borrower fatts to respond to Lender wfthln 30 days after the dafte the noUce Is glven, ::,�e�:,:i ' i�;� rc;;_;:,
<br /> � Lender Is authorized to collect and appty the proceeds, at fts opUon,ekher to restoraUon or repair of the Properly ar to the ' ��;�i ��_
<br /> • sums secured by thls Security Instrument,whether or not then due. .
<br /> Unless Lender and BoROwer otherwlse agree in wr(Vng, eny app��caUon of proceeds to pdndpal shall not extend or �I����:.�+a��°
<br /> - postpone the due date o1 the monthty payments referred to tn parsgraphs 1 and 2 or change the arnount ot such payments.
<br /> .,�,,;-.�
<br /> 11. Borrower Not Released; Forbaarance By Lsnder Not a Waiver.Extenston of the ttme for payment or _ �
<br />' � modiflcatlon o1 emortizatlon of the sums secured by this Security Instrument�anted by Lender to any successor In Interest ot _ --�
<br /> • � Borrower shall not opetate to retease the Iiabifiqr of the odglnat Borrower or Bortower's successors in InteresG Lender shaJl not � �"
<br /> - be required !o commence proceedings aga(nst any successor In Interest or retuse to extend time for payment or othervutse ' __ __
<br /> � `i mo�ify amortimtlon o1 the sums secured by thls Security Instrument by reason of any demand made by the odgtnal Borrower or �,�, ^
<br /> ' ��j Barrower's successoTS In interest. Any torbearance by LendEr In exercising any dght or remedy shalt not be a wahrer ot or '�
<br /> � preclude the euerGse of eny dght or remedy. "�`W--
<br /> r�� Several Uabll , Co-si ners.7he covenants ena i���,_.�_,,
<br /> 12. Successors and Assigns Bound; Jolnt a �l' 9 -�=�-;-°
<br /> ' agreaments o1 thls Security tnstrument shali btnd and benefit the successors and asslgns of Lender and Borrower,subject to the °�� � • ,�; _.
<br /> , ..�. pravisions ot paregraph 17. Bortower s covenants and agreements shaU be joint and several. My Borrower who co-slgns thls .,.�� ;�,�
<br /> ,; Security Instrument but does not execute the Note: (a)Ia co-slgning thls Secudty Instrument onty to moRgage, grant and conve/ :,r.__.����-�:'
<br /> �^E that Borrower's Interest In the Property under the terms of 4�iis Security Instrument (b) ls not personalty obfigated to pay fhe .��•r,,,:
<br /> s �._.
<br /> sums secured by thls Security InstrumenY, end (c) agrees that Lender and any other Borrower may agree to extend. nodity. `"��,, '
<br /> � � torbear or make any aecommod�tio�ns wtth regard to the terts►a ot thls Securtty Instrument or the Note wfthout that Borro�+vers :�,�, ;': _..�:°._,:
<br /> � consent. . �`�.
<br /> , 13. Loan Charges. H tfie loan secured by thls Securfty Instrument Is subJect to a law which sets ma�dmum loan =
<br /> charges, and that lew is finafly interpreted so that the Interest or other loan charges collected or to be cc!:ected in connection ,•���s��'
<br /> .Itr�r-5!�'-�;:•.,
<br /> with the loan exceed the permitted limita,then: (a)any such toan charge shall be reduced by the amount n2�essary to reduce ,_. .. . .
<br /> the charge to the pertnitted IimA: and (b) any sums aheady collected from Bortower whtoh exeeeded nertnitted limits will be �,.s.;;;f�.i.s=:..._..,,_
<br /> retunded to Bortower. Lender may choose to make this refund by reducing the pdnclpal owed under the Note or by m.ak+rtg a .�:�.i ._
<br /> direct payment to Borrower. If a refund reduces principat, the reductlon wlll be treated as a partial prepayment v�ftho•_^. any �� �. ! �
<br /> � prepayment cherge under the Note. � . � ':�"�"� •
<br /> �: .,
<br /> 14. NOtIC89. Any notice to Bortower provided for in thls Securlty Instrument sha!I be given by delivering it or by mailirtg it . � , • -
<br />� by flrst class mail unless applicebte law requlres use of anoiher method. The noUce shall be directed to the Property Address •
<br /> ! or any other address 8orrower designates by notice to Lender. My notice to Lender shall be given by ftrst Gass mail to :. _
<br /> ' J Lender's address stated herein or any other address Lender dasignates by noUce to BoROwer. Any notice provlded for in this
<br /> � Securir/InsVument shatl be deemed to have been given to Bortower or Lender when gluen as provided in this paraqraph. . . �'�,.'�
<br /> 15. Gavarni�g Lavr, SeVerebili3y. This Securiry Instrument sha�l be govemed by (ederal taw and tho law of the
<br /> ju�isdiction in whiah the Property is located. In the event that eny provision or clause of this Security Instrument or the Note . . , -
<br /> conflicts with applieable law, such coniliet shall not attect other provisions of this Security Instrument or the Note which can be , . �
<br /> g:�En effect wfthout the conflicting provision. To this end the provisions oi this Security Instrument and the Note are declared to
<br /> ba severable. � ` ,
<br /> 16. Borrm:�er's Copy. Bortower shall be grven one conformed copy ot the Note and of this Securily Instrument. �'' •
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