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<br /> , .,� sabEtantiali} equivalent snurtgage.insuranco cover.�gc is not available. &�rr�n�•er+h:ill pay tu Lc�n.tcr wch munth a.um eyu:il w ;,,'4 .` �:.� - -
<br /> � � ' une-twelRh«f[he yearl� m��ng:�e intiprnn:e premium being paid by Borrnwcr uhen the in,ur.�nce c�n'era�e Iap.eJ or cea�ai ta ��,<<:i��:.�; _:.��� -
<br /> . (a" .< - b e in effect. Lender wili accept.use and ntain these payments as a loti. rc.�+er��m liru c.t mor[ga�::. in,ursnce. L.�,�. resen�r(� . ," Q �,
<br /> ,, , , psymtnt,may no Fonger be reyuircYi.:st tfie option of l.ender. if mortgage inw�anre co�cr.�e i in thr:uu�wnt:+n d tiir t hr periud�$ ` ,,' ` ,';�`_:�1"
<br /> •` - • th:►t Lxnder req�siretil pracided by an irL+urcr approved by Ixnder:�.sin be�v�m�w a�ailable anJ i,ubtaineJ. &�m�µer,hall pay e � .t�`,;���,. , i c
<br /> • .`"."'. , �""` ' the prrmiumc requirai ta m:tmt:�in m�irtgage�mur.uire in eff�wt.or tu pro�•ide a lo.. r��erve.until the reyuircm:nt for murtg:►g�
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<br /> ' , �� . in�urance ends in a�wrdanee with sn�u•ritten agrrement bct«•c�n Borm�ver anJ Ltruie�nr appli�ahlc law. K .
<br /> , 9. laspectiun.Lender ar its agent may mnkr ruiu�n;�lr entrie+upon:md in�pe�Kic,m ot thc Pmperty. [.ender sh;iU giv� �.�...•.'� ;� •` .�..
<br /> ` . Burmwer nofice at the time af ur prior to an inspection tipecitying rea,onable rau.+e ti�r the impectiott. : �, , ,
<br /> " 10.Cond�mnatton. 7'he prcxeeds uf�ny awani or cl:um for damagcw. diree-t ur conseyuenti:�l. in�i�nnection with an� .: .` �� . t
<br /> ' . . ." _ condemnation or other taking of any pan of the Property.or fi�r comeyance in lieu uf rcmdemnation. are hereby�a..+igned aa� 4��N , `�'�'�
<br /> . . • � :, Shall be paid to I.ender. � .
<br /> ' � � y;,;_ In the event of a total taking uf the Pmpert).the proceeds shall be applied to the xums secured by thi+Securiry Instrument, .; ,
<br /> -�.��*; whether or not then due. tiviih an}exce�+paid to Borcowec In[hr c�•ent af a p:utial taking of the Propeny in which the fair ,�° ,.�'�
<br /> `�'� "' market value of the Propen} immediately before the talcing is eyual w ur gre:ster th:ui the amount uf the�ums secured by this
<br />- ---- -- Security Instrument immcxliate{y hefarc the talcing.unles.ti Barroxer:u�d Ixnder atherw•i�e agrce in writing, the sumti.ecured by r `'�� ,
<br /> � � thi� Security In�wment shall be reducal hy the amount of the proceeds nnultiplied by the fullowing fraction: lal the total "'�`�� , , '
<br /> ��. F- ,:s amount of the sums secured immed+ately before the taking, divided by�(b)the fair market value of thc Pmpercy immediatety �5�°. ,:
<br /> ` ° .�` before the taking. My balance shall be paid to Borrower. tn the event of a partial taking of the Propeny in which the fair . � •
<br /> J s ' � market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the :.
<br /> �� '- . �- - talcing, unless Borrower an d L en der o t henvise a€r e e i n w r i t i n�o r u n l e s s a p p l i c a b l e l a w o t h e r w i s e p r o v i d e�. t h e pmcceds shall ��,�,.�' ��t•`.
<br /> . ; be applied[o the sums secureJ hy thia Security Inswment whether or not the sums are then due. �� ,_,
<br /> � � lf the Property is abandoned hy Borrower.or if,after notice by Lender to Borrawer t6at the condemnor offers to make an �_
<br /> � , � award or settle a claim for damages. Botr�wer fai lti to respon d to l.en de r within 30 da ys after the date the notice is given. ..c �;�-.:�.`,_ _
<br /> � L.ender is authorized co callect and apply the pm:azds.at its option, either to rz,�nration or repair of the Property or to the sums � F _ -
<br /> • ' � �ecured by this Security instrument,whether or nat then due. .:��.- -
<br /> Unless Lender and Borrower othenvise�ree in writing. any application of proceeds to prir.cipal shall not eatend or ..:: ,
<br /> � postpone the due date of the monthly paymenu refern�to in paragraphs t and 2 or change the amount of such payments. ,;:,,,_ _
<br /> ;.. •�. � ..�: 11.Borno�er Not Reteased;For6earaam By Lender Not a Waiver.Eatension of the time for payment or madiftcation _
<br /> � � ' of amorti7ation of the sums secured by this Serurity Instrume�rt granted hy lxnder tu any succeswr in interest of Borrower shall
<br /> not operate to relea�e the liability of the original Borrower ar Borrower's successors in interest. Lender shall not be required to ;� _�'` ;��.,.�
<br /> _�,,,�:r , commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amonization • � y_.�—
<br /> - - -- �`�° �f the sums secured by this Security Instrument by reason of any demand made by the original Borsower or Borrower s ` •��-
<br /> � ' ' •� successors in interest. Any forbeazance by Lender in exercising any right or remeeiy shall not be a waiver af or preclude the ,. �.•, ��
<br /> : ���� exercise of any right or remedy. "'�� '�`�«�' �
<br /> ' 12. Successors and Assigns Bouad; Joint and Se�eral LiabUity: Co-signe�. The covenants and agreements of this � •��� �';,;::--
<br /> Security Instrument shall bind and benefit the successors and assigns of Lender and Bnrrower, subject to the provisians of . �e=:��
<br /> _ � ' - . paiagraph t�. Borrower's cove�ra�►ts and agmements shall be joint and several. Any Barrouer who co-signs this Secwity `'� : '�'� -�.
<br /> '- '' '.. ;.'�j� Instrument but does not execute the Note: (a)is co-signing this Security lntitrumcnt only to mortgage,grant and convey that °
<br /> �r • � , •' Borrower s interest in the Propeny under the terms of tf►is Security instrument:(b)is not personaqy obligated to pay the sums �
<br />' "`. . ` secured by this Secvrity Instrument:and(c)agrees that Lender a�ul any other Borrower may agree to extend,modify.forbear or `.` . _��`'_
<br /> ;�• '',':;. make any accommodations with regard to the terms of this Security Instrument ur the Note without that Borrower's consent. ��,.�,.� �
<br /> ' - 13.Loan Chaeg�'»ff the toan secured by this Securiry lnstrument is subject to a law which sets maximum loan charges. _ ..•�_:
<br /> ;�-.�, . and that law is finally interpret e d so t h at t t�e in teres t or o t h e r l o a n char ses collected or to be collected in connection with the -
<br /> , .,} toan ezceed the permitted lim��s, then: (aJ�y s�ch loan charse shall be reduced by the amount necessary to reduce the charge . . _ �;,�.���
<br />' ,. � ..�..; to the permitted limit:and(b)any sums already collected fram Borrower which exceeded permitted limiu will be refunded to �'��•_
<br />� - gorrawer_ Lendes may chaose to make this refund by reducing the principal owed under the Note or by making a direct �. x__;..d�_a
<br /> �� '� ' ��`�?' payment [o Borrower. If a refund reducc.s principal, the reduetion will be treated as a panial prepayment wiihout any —,�
<br /> � -' �� � � prepayment charge under the Note. , ���=_--
<br /> � ' 14.Nattces.Any notice to Borrower provided for in this SecuritJ• Instrument shall be given by delivering it or by mailing �'_.'���;,=
<br /> � � �� it by tirst class mail unless applicable taw requires use of another me[had.The nutice shaU be directed to the Praperty Address ;-.—..n.
<br /> ` . ` � or any other address Borrower designates by nUtice to Lender. Any notice to Lender shall be given by first cla�s mail to ,;�__
<br /> f ' Lender's address stated herein or any other adaress Lender designates by natice to Borrower. Any noticc provided for in this :.��:,:,,
<br /> ' . .. Security Instrumen[shall be deemed to have been given to Bonower or Lender when given as provided in this paragraph. _
<br /> ' . 15.Govern[r� Law; Severability. This Security Instrument chall be gavemed by fcderal law and the law of the � � _��-_
<br /> .'� , � jurisdiction in which the Property is locatecl. In the event that any provision or clause of this Security Instrusnent or the Note _:;�-..
<br /> ' � - canflicts with appticable law,such conflice shall not affect other pravisions of this Security Instrument or the Nate which can be } _ a�:�:-.
<br /> , • `.- �iven effeet without the conflicting pravision.To this end the provisians of this Security Instcument and the Note are declared L, . '; _:_�,� �
<br /> . ta be severablc. r�,,�--
<br /> �,�. 16.Borrower's Copy.Eorrower shall be given one cunformed capy of the Note and of this Secutity lnswment. • ,�
<br /> • . 17.Transfer oY the Property or a Beneflclal lnterest in Bnrrower.if all or any part of the Property or any interest in it �-
<br /> ' is aold or transferred(or if a beneficial interest in Borrower is sold or transferred and Boaower is nat a natura!person)without - _ '_._..,,�:;_,.:,��-_
<br /> � � . Lendcr's prior written consent. Lender may, at its option, require immediate payment in full of all sums secured by this �... ;•�;,.��-:�:�,.
<br /> - . . Security Instrument.Hawever,this aption shaU not be e�ercisal by l.ender if exere�se�s prohibited by federal law as of the date t:,I;=';:;::. ; . .
<br /> � ' of this Security Instrument. ' .. • � �
<br /> ' � If Lender exercises this aptian. Lender shall give Horrower natice of acceleration. The natice shall provide a period of noi _ ;
<br /> . ' les� than 30�ays fram the date the notice is deliverecl or mailed a:thin which Borrower must pay all sums secured by tit�is , , , .,•.�, '
<br /> �ecurity Instrument. lf Borrower fails to pay thesc tiums prior to the expiration of this period. Lendcr may invake any remedies ; :
<br /> "' . ' permitted by this Security Instrument with�ut further notice�r demand on Borrower.
<br /> ,; 18. Borrower's Righ! to Reinstate. If Bona�ver meets certain conditions. Borrower shall have the right to have
<br /> � enfi�rcement of thi� Security instrument discontinaed at any time prior to the earlier of: (a) 5 day� (or such other period as
<br /> � � applicablc law may apec:ify G�r reinstatemenq hefore sale o(the Propeny punuant to any p�wcr of sale wnwined in this �
<br /> • Scwrity ln�trument:��r Ib)entry nf u.iu�gment enforcing this 5ecurity lnrirument. Thc�tie mnditions are that Borrawer:(a)pay�
<br /> L.cnder all �um+ which then wi,uld be duc under this Security lnstrument and the Note a�if no acceleration had occurred: (b) . ;
<br /> � � cure�any def.�ult of any �nher covenant� or agrcement.: Ic)pays all expenticr incurred in cnfnrcin� this Sccurity Instrument.
<br /> .� including, but not IimiteJ ta.rea+unablc au��mcy�: fce.:attd(Jl takey tiuch actiun a. Lcnder may rrazanably rcyuire t��assure ..
<br /> Ihat the lien of'this 5ecurity In�trument, l.ender'z rights in the Properly anJ Horrower',obligation tu pay the wms secured by _ .
<br /> this Securiry Irntrument tihaU amlinue unchangecl. Upan reinstatement by $orrawer, this Secunry In�trument and the ,
<br /> � , obli�atiom.ecureJ hereby +liall remain fully effective aa�f n��xcceleration had��ccurred. H��wever, thi+ right to rcinstate shall ,
<br /> • � nrn apply in thc ca�c of acccicration under paragraph 17. •
<br /> ' � ' 19. Sale oY Note: Chan�e of Loan Servicer. The Natc ��r a panial intcrest in thc Notc (tugether with thir Sccuriry
<br /> Intitrument)may he«�Id one ur mvre time�without priar notice to 8ormwer. A tiale i���y result in a change in the entity Iknown ..
<br /> � � '� ati die"l��an 5ervicer"►that cuUect�mimthly payments due under the Nute and thiti Security In,trument. Th�re alsu may be ime ,-. - ,
<br /> � � or mc�rc changc+uf Ihc l,aan 5crviccr unrelateAl te►a�atc of thc Nutc.lf therc i�a change ni thc I��an Scrvircr. Borcowcr will be � •
<br /> � � gi�en writtcn notice uf the ch:utge in accvrdanee with p•rragraph 14 ahnve anJ applicablc law. The nutice will�tate the name anJ
<br /> . adJre�+nf tl�c ncw la�an Scrvicct anJ thc adJretis U� which payments should he madc.Thc notice will al�o contain any utlier
<br /> infurmatiun rcyuirul by applirahle I�w. . � �
<br /> 20. Hazardous tiubstanccs. Burrowcr �hall nut l':IU�C l�f PC�Rlt1 1hC prc�rnrc. u�c. dispowl. �toragc. ur rcicase of any . • ,
<br /> �,� � HatxtrJuu. Sub�tancc+ u�� ur in the 1'mperty. Bi�rci�wer �hall nut du. nur allc.w anyone ehe t�� do. any'thing affecting the •
<br /> � Property that i, in v►ulation nf:my Envirunmental L;�w. The preceding twu.rntence�tihall nu►apply t��the pre�ence. u.e. ur
<br /> " hturegc un thc Pr��perry uf.mall yuuntinc���f Haiarduu.SUI1�1811CCt that arc gcnrr.Jly rer��gni�cd t��t� appmpriatc tu nurmal
<br />-'- -- -.-•- --1 rc�icfCnti:d u�c�and t��maintcnancc uf thc Propcny. � �.
<br /> .z : . , I v.,�s,.i a Form 3028 9190 � . -. ,- . -
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