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<br /> � ' � � ' 7. Protection ot Lender's Hights tn 4he Property. ir eortower reas w a�o"n �►� c°Ye"an�s s�'d aa�"e"m • . �
<br /> , contah�ed in this Sacur�Y Instrumant,or thsre is a �P��dII19 Mat may sigri�anUY 8f�ect LenQePs�i9M5 u�the ProAeRY(su�es ;`.� � <<<
<br /> ' •'•'` a Praceedfig tn l�antwptcy.orobale.tor condemnation or tarterture or to entor�e fativs or regutBtlo�s)�then Lender may do and pay tor ..,. '. `` .
<br /> . , ` whatever is necessary w Orotect the vaWe of the P�oDertY flnd Lendets dghts fn tha�OCOUrt.P81f�9 aSOnabis aiLO ey/s tees en0� `..�: " •
<br /> ` �� � a n y s w n s s a c u r e d b y a I t e n which has pr[orny over tRls Sec�+r�Y instrument,ePAe�9 _ :'
<br /> - A 7.L e n d e r d o e s n o t u a v e t o Q o s o • _ ,
<br /> • entering on the PropertY to make repafrs- A$hougA lender may teke ac t i on�d�r t h l�p a r a B�P �
<br /> ' , �, My amouM� disbursed by lender uadsr this P�B�DA 7 shaU become add3ional deDt o1 Borrower secured Oy this Secu�3f► � . .y
<br /> InsvumenG Un t e s s Borro w e r e n d L e n d e r e�e e w o t h e r t e rt n s of p a y manb these amounts shell b2ar Interest trom the date ot � r -`.
<br /> ` � disEurssment at the ntote rate an d s ha 0 os p a y a bta.w7th Urteres�upon aotiee 8 ond�ton oi Bmaking t1�e t�oan securad b this Secur�Y � � . .
<br /> � � 8. Mortgage tnsurance. lf Lender requfted mortgage fi5arenCe , .
<br /> � � : lastrument, 8orrovrer sha0 pay the premiums�e4uired to ma6rtain the moRgage aisu►anee o� eftect. It. Por any reasan.the mortgaS9 , . , ,
<br /> , � �� � �surance Coverage re4u'ved by Lender tapses or ceases to be in eNect. Bortower shaU DaY the p�em4uRS re4uired to obtain coverage � ` << ` ,
<br /> � substant�alry eqwvaler►t to the mortgege insurdnce Pre+iiousry in eftect,at a eost substentielh eq°Ha�nt to the eost to eorrower ot the R�
<br /> • '_< � mortgage insurance prevtousty in eHec�iram an s�emate moRga9e insurer epProvaQ by LenQer. It substentia�ly e�lulvatent mo��g --. .-. ..
<br /> ; 1 insuranee coverage is not avaitab�. Borrower shai{pay to l�d� eECt� moAth a sum equal to onatwetRh ot the yearty _ _ ,_
<br /> .. . -`} msuren t e P�m�m b ein g paid b y Bor►ower when tl�e insurance coverage tapsed or ceased to be in�eHect o lang e r b e re�quD(t e d. a t the `.t `-
<br /> i ceta� these p8yments as a toss cesenre jn Qau Of mortgags a►surar►ee- Loss reserve payments t '.
<br /> ' optinn of Lender. � mortga80 uisurance co'rerage (�n the emaunl end tor the pertod that Lender requUes) provl�ed by an insurer �
<br /> - BpProved by Lender agab� becomes aveHabfe srsd is obtafied. Borrower shaU P8 tnsursnca ds in 4accardance wTh eny wtdten , .._<.,.
<br /> ' insurance in sffect. or to provide a [ass reserve. until the wquUement far martgage . , ��`,�:,�:..
<br /> • agreement between Barrow�and Lender or ePAG�bie taw. Lendar shaU give '� _• "..;
<br /> 9. lnspection. lender or Bs agent may make reasonabia entries uAcn end insyections of Me Properyl. �° ` ,�r>,
<br /> ' ` Bortower notice at the thne of or p�tor to an(nspectton speeeityying reasonable cause tor the insPec�on• � ,
<br /> � 10. Condemnatton. The proc�ds ot any award or claim tor damages. di2ct or consequential. in connection w�h any , �_- '�
<br /> . condemnaGon or other takin9 of anY Vart at the Property,or for conveyance in �3su of eondemnation,are heceDy assignea s�d sha0 be �-�r�
<br /> r' - pattl to lender. _
<br />` In the event ot a total takmg of Ne Properry,the proceeQs shaU be appt'�e0 to the sums secured Dy �wS�� �s���
<br /> ' whether or not then dua,with enY e�xess Paid to Bo�rmKer. In the event of a par�al takin9 ot the Prope[ty
<br /> ' 'r;lL'',%�•; vatue of the Property unmediately bef�a t:�e taktng is eRuai to or g�eater than tha amount ot Me sums sewre0 by this SecurnY . '•.,-•�-
<br /> . . ,;,•`` .• Instrum�: 'a�cnediatety betore the ta�cai9=u�tess 8ortower and Lender atherwise agres in writEng.ihe Sums secured by thts S�uritY �•: , �`�:,_t;_,.—
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<br /> ' - mswmer:t s!:all be reQuced by ttie a�ra.r•�t ot the proceeds muittpTiad bY Ma tc�au'inS�an: ta) 1�e tmsl emount ot t�s sums r ' ��„�.
<br /> � ., `�r,` � secure0 immediatery befa3 the tak§�g�dfirided by (b)ttae tab'merket vatue of the Pr�PffRY trnmedtstety before Me tekin9. Ar►y�be(an� . ! r z� �-__-
<br /> � � � " shatl be Patd to Borrower. tn th9 event of a partfal taksn8 0}the PmpertY tn whieri the fair maA«t va�e ot the Properiy :•,�,r,;1�
<br /> betore the taking ts less Man the amount ot the sums secured Immedlatety Letore the tekfn9•uniess Bortower and Lender utherwise � ,,,.�
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<br /> a�ee in writfig or un[ess apPlicabi9 �aW otherwLse P�d�. �e proceeds sfiad be apPGed to the sums secured by th(s SecutitY .,:;<. _,..q.�='
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<br /> � ' Instrument whethet or not tfie sums 8re thee due. -__
<br /> ` � If the ProDe����Qoned by Borrower.or d,after notice by Lender to Borrower that the condemnor offers to make an awerd or . L.��
<br /> � settte a ciaim for damages�8oaower faifs to resDond to Lender within 30 days after the date the natice is given,Lender is autfiorized .—,,,���:
<br /> -' ` to coifeCt and appN the ptoceeds.at its opHon, either to re5toration or repair Ot the Property ar to the Sums secureG by this 3eeuc$y � ;�
<br /> , • InsWment.whether or not then due. '_- -_
<br /> Unless Lender and Bortower otherwise agree in writing,eny application ot proceeCs to pNncipal shaU not extend or postpone Me �. .��' �
<br /> . ' due date of the monthry payments reterced to in para9raPhs� ana 2 ar change the amoum of sach payments. �'; . ;<•��<.
<br /> � 11. Bor�ower Not Reteessd: Forbearance By Lender Not a Watver. Extenslon 01 the time tor payment or . ;�zz.
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<br /> � � madification ot emortizaUOn ot the suma secured by this Securiry Insbument granteC by Leader to enY suCCessa►In tnterest of'8ortower : • „�-_
<br /> sl�a��not operate to release the 1'�aDilrty o1 the original 8orrower or Boaowers successore in tnterest LenQe►sha�no!be requtred to 4 � •:'��,�
<br /> � ' commence proceedings against anY successor tn Interast or retuse to�ctend ttme tor Payin�nt or othenvtse modUy amoRtmUon ot the .. ---�-. .
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<br /> � sums Secured by this Securityr Instrument by reason ot eny demand made by the orlginal Botrower or Hoaowers suCCessors in .
<br /> � 1 • interest- AnY torbearanee by Lendet in e:ercising eny right or remedY shaU not be a waiver ot or preclude the exercise of 6nY�ht or •,.��-�-
<br /> • � ' '' . ` remedY• . `�.�:-:
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<br /> 12. Successoro�nd Ass49ns Bound;Jaint and Several Uabillty; Co-signera rne covenants ena .
<br /> ' agreements of t�is SeCUrity InsWment shau bind anA benefit the succsrssors and ass�ns o! Lender and Borrower, subjeM to the .:�;,-
<br /> � . • provtsions of parag�aph 17• Borcowers covenants end agreemenu shatl be joint end severa�. Any Bortower who easigna this 8ecurrty '�• ,.;;��°
<br /> ' InsWment but does not exeeute the tvote: (a) +s casignmg tAis Security Instcumant onry to mortgage, grant, a�0 convey t�at ' ;' ' '
<br /> � Borrowers interest m the ProDerty under the terms of th�s SeeuGry Instrument; (b)is not personatfy obl�ated to pay the sums secured � . ;-_;'`
<br /> by this Seeurity tnSWment; 8nd (c)agrees lhat LenQer 8nd 8ny other BOrtower may agreB to eztend� mod�Iy,fo�Dear e►mak9 eny ` `�
<br /> �� ' accommodaUons with regard to terms ot this Secur�ly Instrument or the Note without that 8ortower8 cansen�
<br /> � � 13. Loan Chargea If the losn seCUred by this SeCUrity Instrument ts SubjeCt to 8 l8w whkh sets m�tUnum loen cherges, . _
<br /> � and that taw is flnatry Interpreted so that the tnierest or other ioan charges cot�cted or to be co�ected in connection wftb the loan ,
<br /> exceed the Oe��� ����then; (a)any suCh toan charges ShaD be reQuced by the am0unt necessary to reduCe the chergB to ehe
<br /> � � perm;tted iimil;and(b)any sums atready coliacted from Bortower whkh exceeded permlued 11mRs Wt�i de refu^dad to Borrower. Lender .
<br /> � � . may choose w make this retund by reducing tne principal owe0 under tfie Note or by making a Gaect payment to 8ortower. If e . • •
<br /> refund reduces principal,the reduction witl he treale4 as a partial prepayment wfthout any prepayment charge under the Note. ,
<br /> " • � 14. Noticea My notice to 8ortower prOVided for in this Security Instrument sha�l be given by deiivering R ot by ma+ling it by •. . • .
<br /> - • lfrst ciass mail unless appl�Cable law requ��es use of another method. The not� shall be d'vected to the Property Address o►a�Y � � . .
<br /> other address Botrower designates by notice to Lender. My not�ce t0 Lender shall be given by first ctass mail to Lender's fldOress ��-
<br /> stated herein or any other address Lender Qesignates by�ot�Ce Fo RaRewer. My notice provided for in this Securily InsUument She� , .
<br /> � be deemed to have been given t0 BOrtower or Lendei when given as provided�this per8grapA. •
<br /> ' 15. Governing L.aw; Severabitity. This Security Instrument shaU be gov6med Oy tederal law and the law ot the �
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<br /> � • j jurisdlcNan in whbh the Property is located. In the event that any provislon or Ctause of tMS Securiry Instrument or the Note Conflicts
<br /> � wdh epp��cable taw. suCh conflkt shall nof efteCt other provislon9 of this Securiry Instrument or the Note w1HCh cen be ghien efleCl
<br /> . , � wnhaut the conilicting provision. To this end the Drovistons Of this Seeurityr insWment and Me Note are deCtared to be severabt9.
<br /> 16. Borrower'a Copy. Bortower shall be ghren one contormed coAY of the Note and of this Securiry InsUUment.
<br /> • ' �� �� 17. Transter of the Property or a Beneflcial Interest in Borrower. If all ot eny peri Of ihe PropeRy or 8ny . .
<br /> . . � interest in rt is So1d ar tranSleRed (at if e beneficlal interest in Borcov�ar L9 sold or transterted end Borrowet is not a naturel p9rson) . . ,
<br /> + wrthout Lender's prior written consent. Lender may,at ds opt�on, require immediate peyment in tutl of all sums secuted by this Security
<br /> '� Instrument. However,this option shall not be oxercised by LenOer il exArCise is prohibRed by �ederal taw es 0�the date ot this SecurRy • ,
<br /> i Instrument.
<br /> � � It Lender exerC15e5 this oA��an,Lender shall give BOrrower not�Ce o� aaceleret�on. The nat�ce shell provide a period a1 not less . .
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<br /> than 30 days trom the date the not�Ce is detive�ed or mailed vrithin wh�Ch the Bonower must pay atl sums secured by this SeCUrity
<br /> • Instrument. H Borrovrer laiis to pay these sums prior to the expUation of thls pedod.Lender may�voke any reme�es pe��md o2a eh o
<br /> ' • Security Instrument wrtnout furtner �otice or demand on Borcower. .
<br /> � � ft02B.LM0 f':97) Paqo 3 01 S
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