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<br /> • < , ,`,���� Bortower may are such a defauR and re(nstate. as provided in P�9�Ph 16. by causing the acUan or praceeding to be • • ; . ,
<br /> ° �� 'dismissed with a►uGng that,(n Lender's good fa1M detertninaQon,predudes forfeiwre of the Bortowers interest in the Property or _ •
<br /> � � � other material impairtnent oi the Gen c�eaied by this Security Instrument or Lender s securriy interes4 Borrawer sha0 also be in �• �
<br /> • detautt It Borrower,dur(ng the loan appUeatlon process, gave matettaQy talse ar maccurate i�omsation or statements to Lender(or _ : �"�
<br /> " ,t `; failed to provtda Lender wfth anyt materfa�intormation) in eonnecdon with the loan e�ridenced by the Nate. indudmg. 6ut not � �• �
<br /> . � I'united to, �res�tions eoneeming Borrowers ocapan�71 of the Property as a prindpal resfde�ce. It thts Security ".` .` `
<br /> � fnstrvment ts on a leasehold 8orrower sha0 �mpy with ail tbe prmrisioes of the lease. It Bartower acqu{res tee title to the �-?��_ , � �•
<br /> Property,ihe(easahold and She tee tiUe sha0 not merge untess Lender syees to the merger in writmg- . r
<br /> � . � 7. Pra2�dion of �ender'e Eiights in the Property.it earrower ta�s to pe+tortn the covenants and agreements . �� f�.-.
<br /> .. ' � contatised fn thts 3ecuriry tnsbumerri. or there ts a Iegal proeeeding that may significantty aRect Lendefs dgnts in the ProP�7l C� �°
<br /> (such as n proeeed'ing In Eantwptcy.proDate.for condemnation or fort�dire or to enforce Iaws or regudaUons),then lender may � , . `. :
<br /> � � do and pay tar whateva is neeessary to protect the vatne of the PropeRy end Lertders rights in the Property. Lenders aetlons ' �: 4� _
<br /> ' :,.�;-; may indude paying any sums secured by a IIea whicfi has pdoriry over this Security Instrument, appearing in couR, paying , ._
<br /> ` , reasonable attomeys tees and entering an the Property to make�epai►s•Atthaugh Lender may take ec�on under this paragraph � � _ .
<br /> —-- � -- 7.Lender daes not hava!o do so. � - `- --- ,--'_. _
<br /> ' My amounts disbursed by Lender under paragraph 7 shall become add�Gonal debt of Borrower secured by this Securityr � � , �
<br /> InsWmen4 Untess Borrower and Lender agree to other tertns of payment, these amourrts shal! bear interest hom the date af � • • ��� �
<br /> �` � ` dsbursement at the Note rate and shaU be payabta with irrtere.gt,upon notice irom Lender to Borrowei requesting paymerrt. � � �
<br /> � . 8. MOt4�8ge InSUrdt1C@. tf Lender required martgage insuwnce as a eondAion of maldng the loan secured by this � •
<br /> � Security Insfrum�� Bortower sha0 pay the premiums required to matr►tain the mortgage insurance in efted.If,tor any reason.the � • � •
<br /> �� moRgage insurance coverage required by Le�dar tapses or ceases to he in etfed,BaROwer shaD pay the premiums requtred to ;, ' '
<br /> nhtain coverag�a subsffintially equivalent to the mortgage insurance previousry(n etfect, at a cost substantiaf.y equivateM to the _ �,''�:�.
<br /> � cost to Borrow� of the mortgage insurance previousty in eRect. from an eftemate mortgaqe insurer approved by Lender. if �•-r�'.''- �
<br /> � � substanttaUy equivalent mortgage insutance coverage is not ava0able, Borrower shaU pay to Lender each mordh a sum equai to ��;'•' , - —
<br /> :.��. ` onatwe�fth of the yeariy rt[ortgage insurance premium being pald by Borrower when tha insurance covetaqe lapsed ar ceased to . ,_:���•.
<br /> � 6e in eHect. Lender wID accept use and retafn these payments as a loss rsserve in fieu of mortgage insurance_ Loss reserve �, _.
<br /> � payments may no longer be requUed,et the aption of Eender. il martgage insurance caverage(in the amount and tor ihe period . �` '��'=•r.
<br /> tha! Lend�requUes)pmvtded by an insurer approved 6y Lender again becomes araiiable and is obtained. Borrower shall pay � ��`
<br /> the premiums requtred to maintein martgage insurance m eftect,or te provide a toss resenre.until the requiremert tor iaortgage ^:��' z
<br /> insu�nce ends tn accordance with arry wrftten agreemert between Borrower and Lender or appUcable Iaw. '�
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<br /> - . ' . 9. (t19pBCtIOt1.Lender or its agent may make reasanabie enites upon and inspecdons of the Properry. Lender shall give � ``}•�4-��`w.��
<br /> ���, Borrower notfce at the Urt�e o1 or prtor to an inspecUon specflying reasonable cause for the inspecUan. __._ ';_"� . ��•—
<br /> =;, 10.ConfDBMnatiOtl.The�raceeds of any award or claim for damages, direct or consequertVat,in connectlon with any � •�'���.
<br /> � ' condemnaBon or other ta�dng of any part o f t he P roperry,or for comreyance 6i Ileu of condemnaUon, are hereby assigned and " �,` _ '+��-��=-
<br /> � `: . . <:.�:•,.:
<br /> '� sha(I 6e paid to Lender. � �` �`!t;�:;
<br /> � � (n the avent of a toisi taldng of the Prapety, the proceeds shall be appfied to the sums secured by this Security +
<br /> � . - - Instrument,whelher ar not then due,wiiM any eucess patd to Bortower. In the event ot a parttal ta(cing of the Proyerly in whieh ° :.�-�`.`�:-`'
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<br /> � the t�market vaiue o1 the PropeRy immediate 6etore the takfi�is e ual to or eater than the amouirt of the sums seeured ,. '�,�
<br /> � by th's Securiiy Instrument immediatety before tt�e tetdng, uniess Bo ower and Lender otherwlse agree In writhig, the sums . , . .t �;���
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<br /> ' secured by this Seeurily Instrument shall be reduced by the amourtt of the proceeds muftiplied by the fodowirtg iractton: (a)the . •. . r'�'��'�'`"�'
<br /> .�` total amount ot the sums sewred trnmediatety 6efore tha tai(mg. dfvided by(b) the fair masket value of the Property fmmedatety • ;`'���'•�
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<br />:%� betore the talcing.My balance shall 6e paid to Bortower.in the event o1 a pamat taWng of the P�operty in which the iafr market , • ;,.=�t;
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<br /> _�':; � � ' vaiue oi ihe Properly immedatety before the fakfig is tess than the amount of the sums secured immediatety before the taldng. . .;:��•�t,
<br /> unless 8orrewer and Lender otherwise agree in writing or unless appliceble iaw otherwise prorides, the proceeds shaii be :"F�'T�
<br /> ', • ; applied to the sums sea.tred by this Seeufiry Instrumertt wheiher or rtot the sums are then du� -'`f'
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<br /> . . � If the Property ts abandoned by Borrower, or if,after notfce by Lender to 8ortower that the condemnor oHers to make an • •_ - r t�. `r=+:
<br />-� 5•` � award or settte a claim tor damages, Borrower ta8s to respond to Lender wfthtn 30 Qays after the date the noUee is given. • , �� �"t
<br /> Lender is authorized to collect and a the proceeds,at its o tion, either to restoration or re atr oi the PropeRy or to the ' �'�"'�''-''`
<br /> PPN P P ,� �,.-�
<br /> . , ; sums secured by this Securiry tnstrumen�whether or not then Que. � �;��� .=�
<br /> ,� Uniess Lender and 8orrower otherwise agree in w�ting. any applfcaUon oi proceeds to pdncipal shatl not extend or .`;�rz_�-
<br /> ' � •�' postpone the due date of the monthry payments referred to in paragraphs 1 and 2 or change the amount of such payments. • ' �'�•�`,
<br /> . � �. 11.Bor�ower Not Reteased; Forbearance By Lender Not a Wa3ver.Extenslon o1 the Ume for payment or �• p- ' �~��=.
<br /> .� modiftcallon of amoNzation of the sums secured by this Sewr�ly Instrument�anted by Lender to any suecessor in interest of � �.'•"`-_'
<br /> � Bortower shaD not operate to retease the liabiliiy o1 the odginal Borrower or Bonowers successors tn interest. Lender shall not
<br /> -. .� be requUed to commenee proceedings against any successor in interest or refuse to extend Ume for payment or otherwise , � �._,
<br /> modity emoR3zation ot the sums secured by thls Security Instrument by reason o t any deman d ma Qe b y t h e or(g lnai Bortower or
<br /> ' '{ Borrower's successors In Interest Any tofiearence by Lender in exerclsing eny dght or remsdy sha0 not be a wahrer oi ot . . •
<br /> € preclude the exerciss ot any dght or remedy. � •"�-•�
<br /> � 12.Success�rs and Asslgns Bound; Jotnt and Several Uability; Co-slgnera Tne covenants end
<br /> a y e e m e n t s o f this Secu r i t y Instrument shall bind a�d benefd the seccessors and assigns o1 Lender and Bortower,subJect to the _
<br /> 1`.` provlsions of paragraph 17. Bortower's covenants and agreements shall be Joint and several. Any Bortower who co-signs this � :`
<br /> � • Security Instrument but daes not execute the Note: (a)is co-signing this 3ecurity Instrumenl oniy to matgage,grant and wnvey �
<br /> � that Bortower's interest in the Roperty under the tertns of this 3ecurity Insbument; (b) is not personally obligated to pay the .
<br /> ` sums secured by this Security Instrumen� and(cy agrees that Lender and arry other Borrower may agree to extend, modify. : . �.
<br /> �`..� forbear or make any accommodations with regard to the tertns o1 this Security Instrument or the Note wiihout that Bortower's . ; ,,r .
<br /> _-�� consent _ . ,
<br /> 13. LOao Chargea N tne Ioan secured by this Secudty Instrume�t fs subJect to a law which sets maximum loan , .
<br /> charges,and that law is flnally interpreted so that the interest or othe►loan charges coltected or to be coltected in connection ' ..
<br /> .. with the loan exceed the permitted limits,then: (a)any such loan charge shail be reduced by the amount necessary to reduce • �.
<br /> �, the charge to the permitted limit; and @) any sums aiready collected from Bortower which exceeded permitted limits wlll be � ' •
<br /> retunded to Bortower. Lender may choose to make this retund by reducing the pdncipal owed under ihe Note or by maWng a
<br /> � dlrect peyment to Bortower. II a refund reduces principel, the reduction will be Veated as a paAial prepayment without any '
<br /> prepayment charge under the Note. '
<br /> � 14. Notieea.My notice to Bortower providad for In thls Security Instrument shall be glven by delivering it or by mailing ft � � �
<br /> by flrst dass mai)unless applica6le�aw requlres use o1 another method. The notice shall be directed to the Property Adfiess �
<br /> � � or any other aCdress Bortower designates by noUce to Lender. Any notice to Lender shail be gWen by first class mail to � `� _�
<br /> �L S Lender's address stated herein or any other address Lender designates by notice to Borrower. My noUce provided 1or in thts
<br /> '.�� ; Securriy Instrument shaii be deemed to have been given to Bonower or Lender when given es provided in ihis paragreph. � �
<br /> � 1S. Davarnirtg Law; Sev8�eb111ty. This Secudty Instrument shaU be govemed by federal law and lhe iaw of the
<br /> � � Jurisdictlon in which the Propery is tocated. tn the event that any provision or clause of this Security Mstrument or the Note ,
<br /> conflicts with applicable taw. such contlict shall not aHect other provisions ot this Security Instrument or the Note which can be
<br /> . given eHecl without the conflicting provlsion. To this end the provislons o1 this Security Insirument and the Note are deciared to
<br /> , • j bo severable.
<br /> � � 16. Borrower'8 C0�1y.BorrowPr shall be given one conlormed copy o11he Note and of this Security instrument.
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