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<br /> i 8orrower may cure such a default and relnstate, as provided In pumgreph 1B, by causing the acdon or proceeding to be =
<br /> � • dismissed wlth a ruling that, in Lender'a good faith determinetlon,precludes torfefture of the Bortower's interest In the Property or � i �
<br /> other meterlal Impalrment oi the Ilen created by thls Security Instrumenl or Lender's security intorest. Bortower shall also be In � ,
<br /> : delault il Bortower,during lhe loan appllcetion process, gave materlally false or Inaccurate Informatlon or statements to Lender (or ' li c
<br /> faYed to provlde Lender with any material Inlormatlon) In connectfon with the loen evldenced by the Note, Including, but not , •
<br /> Ifmited to, representatlons conceming Bortower's occupency of ihe Properry as a princlpal resldence. If Ihis Securft�r•
<br /> Instrurnent is on a leasehold, Borrower shall comply wlth all the provislons of the lease. It Borrower acquires fee title to the � �
<br /> Property,the leasehold and ihe fee title shall not merge uniess Lender agroes to the merger In writing.
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<br /> 7. Protection of Lender's Righte in the Propor.ty. If eo►rower falls to pertorm the covenents and agreements N
<br /> contelned In this Security Instrument. or there is a legal proceeding that may signlficently atfect Lender's rights In the Property W ,
<br /> (such es a procoeding in bankruptcy, probate,for condemnetlon or forleiturn or to enforce Iews or regulations), thon Lender may� _
<br /> do and pay for whatever Is necessary to protect Ihe value ol ihe Property and Lender's dghts in the P��e�g In ncourt, paying�
<br /> mey include pnying any sums seeured by e lien which hes prlority over ihis Security Instrument, app j
<br /> reasonable attorneys' fees and entering on ihe Property to make repaks. Although Londer mey take actlon under thls parsgraph -
<br /> 7,Lender does not have to do so.
<br /> Any amounts disbursed by Lender under paragraph 7 shall become addltlonal debt of Bonower secured by this Security _
<br /> Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shell bear Interest hom the date of
<br /> disbursement at the Note rate and shall be peyable,with Interest,upon notice from Lender to Borrower requesting payment. -
<br /> �; 8. Mol'tgage Insurance. If Lender requlred mortgage insurance as a eondltlon of making the loan secured by ihis , .��;.
<br /> Securiry Instrument, Borrower shall pay the premlums requlred to malntein the morlgage Insurance In eHect. If,for any reason.the ., t' ___
<br /> mortgage insurance coverage requlred by Lender lapses or ceases to be in etteCt. Borrower shall pay the premiums required to .,_
<br /> � obtain coverage substanllally equivalent lo ihe rnortgage insurance previously in effect, at a cost substanlially equivalent to the ,"�:_
<br /> ' cost to Bortower of the mortgage insurance previously in eHect, from an altemeto mortgage inaurer approved by Lender. Ii
<br /> Isubstantlally equivalent mortgage Insurance coverage is not avalleble, Borrower shall pay to Lender each month a sum equal to ,�"��
<br /> � one-twelkh oi the yearly mortgage insurance premium being pald by Borrower when the insurance coverage Iapsed or ceased to
<br /> ,; � be In ettect. Londer will accept, use and retaln these payments as a bss reserve In Ileu of mortgage insurance. Loss reserve
<br /> ' � payments mey no longer be requlred, at the optlo ovef dLbndlendema�eln becomeac v Ileble andl Istobta nadnt Borrower ahall pay ..
<br /> that Lender requires) provlded by en Insurer app Y 9 ,
<br /> � the premiums requlred to melntaln mortgage Insurance in eftect, or to provide a loss reserve, untll the requlrement for mortgage
<br /> insurance ends in accordence with any written agreement behveen Bortower end Lender or appllcable law.
<br /> � 9. InspeCtion. Lender or Its egent may make reasonable entrlea upon and Inspections of the Properry. Lender shall give
<br /> 'I Borrower notice at the time of or prlor to an Inspection specifying reasonable cause for the Inspectlon. „ - �
<br /> w, 10. Condemnatton. The proceeds of any eward or clalm for damages, dlrect or consequential, In connectlon wlth any �_�
<br /> • I condemnatlon or other taking of any part of the Property,or for conveyance In Ileu o1 condemnatlon. are hereby asslgned and .{
<br /> shall ha pald to Lender.
<br /> � In the event of a total taking of the Property, the proceeds shall be epplled to the sums secured by thls Security ;,�
<br /> I Instrument, whether or not then due,with any excess patd to Borrower. In the event of a partlal taking of the Property In whlch i�;Y;
<br /> J the fair market value of the Property immedlately before the taking is equel to or greater than the amount of the sums secured x,
<br /> � by this secunty insuumeni i�n���ed�ata�r woora ihc tsN!ng. �.�niaac Rorrower and Lender othervvise agree In writing, the sums ___
<br /> seaured by this Security Instrument shall be reduced by lhe amount of the proceeds muRlplled by the following fracHon: (a)the -�;��� 1;�.�
<br /> lotal amuunt of the sums secured Immedietey beiore the teking, divided by (b) the felr market value of the PropeRy Immedlately o- ,
<br /> before the taking.Any balance shell be paid to Bonower.In the event oi a parlial taking of the Property In whlch the telr market ;`; `��
<br /> � velue of the Property Immedletely before the taWng Is Iess than the amount of the sums secured immedintely betore the taking,
<br /> unlesc Borrower and Lendor othervvise agree In writing or unless applicable law othervvlae provides, the procaeds shaA be
<br /> applied to the sums secured by this Secudty Instrumert whether or not the sums aro then due. ,,:�_'�
<br /> � If the Pcoperty ��abandoned by BoROwer, or if,after notice by Lender to Borrower that the condemnor otters to make an �, i
<br /> � award or serile a clalm tor dama�es, tiorrower falls to respond to Lender wlthin 30 days after the date tha notice is glven,
<br /> 1 �i I�
<br /> Lender Is authorized to coilect and apply the proceeC.. at Its option, elther to restorntlon or repsir of the Properly or t�the —
<br /> sums secured by this Security Instrument,whether or not ihen due. ��
<br /> Unless Lender end Borrower otherv+ise agree In wriUng, any appllcatlon of proceeds to pdncipel shali not extend or .•�� �_
<br /> + pos tpone t h e d u e d a l e o f t h e mn n thl y pa y ments retened to In paragrephs 1 and 2 or change the amount .i such payments. �;y,•:i�'a�'�,' -=--
<br /> • � ,.� �i�
<br /> �. 11. Borrouuer Not Released; Forbearanco By Lender Not a Waiver.Extension ot the time tor payment or
<br /> modificatlon of amoAlzatlon of the sums secured by this Secudty Inswtnent grented by Lendrr to any auccessor In Interest of .�Ak. : W
<br /> Borrower shall not operate to release the Yability of the alglnal Borrower or Borrower's successors In Inteias.. Lender shaA not r---
<br /> � be requlred to commence proceedings agelnst any successor in interest or retuse to extend time for payment or othervvise ;.,,�-_�__
<br /> modiy amortlzatlon of the sums secured by this Security Instrument by reason of any demand made by the origlnal Bortower or ;•
<br /> Borrower's successors In interest. Any torbeerance by lender In exerclsing any rlght or remedy shall not be a waiver of or �,.:ati,�`�_
<br /> ";t;t
<br /> ' preclude the exerclse of any right or remedy. ,
<br /> 12. Successors and Assigns Bound; Joint and Severel Liability; Co-signers. The covenants and . ,_,,,�t���
<br /> agreements of this Secudty Instrument sheA bind and benefit the successors and assigns of Lender and Borrower,subJect to the z-.•��
<br /> v���:—-
<br /> provislons ot peragraph 17. Bortower's covenents and agreements shall be Jolnt and several. Any Bortower who co•signs this �"��
<br /> Security Inslrument but does not execute the Note: (a) is co-signing this Secudty Instrument only to mortgage,grant and convey ,• �i�
<br /> that Borrower's Interest in the Property under ihe terms eeshthaS L derland nytotheb�Borrower ay agr e�to8extend,Pmodffy, �
<br /> sums secured by thls Security Instrumenl; and (c) agr
<br /> (orbear or make any accommodatlons with regard to the terms oi Ihis Security Instrument or the Note without that Borrower's
<br /> consent. ,
<br /> ' 13. Loan Cha�ges. II the loan securod by thfs Security Instrument Is subJect to a lew whlch sets maximum loan
<br /> cherges, and that law Is finally interpreted so ihat the Inlerest or other Ioan charges collecled or to be coliected In connectfon
<br /> � with the loan exceed the permitted Ilmlts,ihen: (a) any such loan charge shall be reduced by the amount necessary to reduce
<br /> the chflrge to the permitted Ilmit: and Ih1 anv sums AIfPAIIV r�iloctPd frnm Rorrnwrr whlr.h PXf:PPC�Pf�(1PII11ITt!'�I ��TItS wlll he
<br /> retunded to t�orrower. �entler may choose to make thls refund by reducing the principal owed under the Note or by making a
<br /> direct payment to Borrower. If a retund reduces principal, the reductlon will be treated as a pertlal prepayment without any
<br /> prepayment charge under the Note. �
<br /> 14. NotiCes. Any notice to Bonower provlded for In this Security Instrument shall be given by delivering it or by maWng R �
<br /> by first class mall unless applicable lew requlres use of another method. The notice shell be dlrected to the Property Address �
<br /> or eny other address Borrower dosignates by notice to Lendar. My notice to Lender shall be given by first class mall to �
<br /> Lender's address stated herein or any olher address Lender designetes by notice to Borrower. Any notice provided for in thls �
<br /> .., ....,.....�,.o.,�� Rnrcnwar t�r I pndnr�vhen alven as nrovlded In this paraqreph. I
<br /> 5ecunry mstrumeni :i,afi uc ueci�icu' �:. �o� ..•..••y^-•� •- -- - - • r
<br /> 15. Governing Law; S8V8Y8bllity. This Security Instrument shatl be govemed by federel iaw and the law o( the
<br /> �unsdictfon in which the Property Is Iocaled. In the event that any provislon or clause of this Securtty Instrument or the Note
<br /> conilicts with applicable law. such contlict sheM nol attecl other provisions of this Security Instniment or the Note which can be I
<br /> grven eiiect without the con(licling provislon. To this end ihe p�ovisions of this Secunry Instrument end the Note are declared to i
<br /> be severeble.
<br /> 16. BO►'YOw81'�S COpy Borrower shall be grven one contormed copy of the Note and o1 ihis Secunty Instrument. �
<br /> � . . � • ,r � n�- � � �� �
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