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<br /> . . � '°� :�� j 7. Protection ot Lereder's Righfs in the Property. ct eorrower ra�s co uertorm me co�anaMS and a�reernenu � `` � �` ,
<br /> ' ` contas�dd a�this Se�urity Irtstrument,cr tt�ere is a legat proceeding that may sign�Cantiy atfect Lender'S rights in the Property (such as � _.
<br /> �, � �r. i a proceedmg in bankruptcy, probate.tor candemnation or foAeiture or to entore9 Iaws or regulations),then Lender may do ead pay fcr� ' . � :
<br /> whateuer is neces58ry to protect the value of the Praperty and LenQer's r�Ats m tt�a Prpperty. Lendets fletions may mCOi�e paymg �
<br /> �� r. � 8ny sums secured Oy a lisn wAic� has pHOrity over this Securny InSUUment.apPeazing in court.Oaying roasonab�e attomey's tees end � � :
<br /> � , entering on the Property to make repaas. Atthough Lender may:atce action under this paragraph 7.Lender daes not�ave to do 50. �j < < < . :
<br /> ' � Any amounLS disbursed by Lender under tn6 paraqraph 7 shaQ become add�Tional dabt of Borrower secured by this Seewdy� • .
<br />• . . In3wment Untass Borrower and Lendar agree to othor terms ot paym�ny thes9 emounts 5ha0 bear int�est irom the dat9 of� � , ., . ,
<br />� � � , disburs�nent at the Nate rata and shaU be Qayabi9,with fnterest.upon notiGe 6'om Lendet to Borrowar requesUng paymenG � , •
<br /> � .' 8. MOTt$Sg@ (It&Uf8t1C�. It Lender requtred mortgage Gnsurance as a cond�ton of malctng tAe loan secured by this Security� � , •
<br /> '` tnshument, Borrower shail Ray the premiums re�6ed to main� the moKgage Ensurance in eHect It tar eny reason,Me mortgage� � .
<br /> a
<br /> � � ' insurance coverage requ'ved by Lender tapses or ceases to be In eftect,Bortower sha0 pay Ne prem5�ms requUed W obffi�n coverage • � .• .Y �-
<br /> � � su�stantiaRy equivalent to the mortgage�surance previousry tn eRect, ai a cost substant�aty equivatent to the wst to Ba�rower of the
<br /> ' • "" � mortgage msuranee pravlousty in eNect, from an attemate mortgage insurer approved by Lender. If substantiaty equivaient mortgage _ , ..�
<br /> _ • - � - insurance cwerage � not avaaabia. 8ortower st�el{ pay to lender each mordh a sum equal ta one�tvialAh ot ihs yearry mortgage z f .___
<br /> insuranee premium being paid by BoROwer when tAe a�suaarsce co+rerege lapsed or ceased to he in ettect- Lender wiil aecept,use and - _
<br /> • � retair► these payments as a toss resenre v� liou of mortgege insurance. Loss reserve payments may no longet be required, at the , .
<br /> � , , option ot lertdar, d mortgage insucat�ce eoverage (in the amount and tor the period that Lender requires) prov(dad by en msurer � : . , •_ ..
<br /> � apProved Dy LenQer aga'u� becomes evaitabte end LS ob�eG. Borrower shaii pay tAe premhims reqnired to mafitaa� moRgage .
<br /> '* • '" insurance in eHact, ar to provide e toss reserv�e,unt7 the requaement for moRgage insurance en05 in accardance wAh any mntee� `
<br /> �.�'=
<br /> , � agreement batween Borrower and Lender ar appt'icabte iaw. �'� =
<br /> � 9. In�ection. Lender or Rs agern may make reasonabte entrles upon and inspections o!the PropeRy. Lender shall give �r
<br /> _ :_�., `..',.
<br /> Bottower notice st the ttme of or priar to an o�spection spec�ying reasonaDta cause fot the inspectloe. '�'r• �"` '� "�
<br /> �` 10. ContiemtlBtlon. Tte proceeds ot any award or cia5n tor dam�ges. direct or consequenNal, i� connecuon with any ' '.�.: __- -
<br /> j•. . �`j condemnaUort or otAer teking of any paR of the Property.or for canveyat�ce in 48u ot coMemnattnn,are hereby essigned and shail be v:`. _-.-
<br /> `•` paid to LenQet.
<br /> . . ,;�� In tne event af a total taking of the Property, the proceeds ShaU be appl'md to the sums secured by this Securfty Inswmen� '__-
<br /> ="F�. � ,� ; whettier or not then due,with any excess paid to Bortower. In the event o�a paR�l taking of the Property tn which the fa'v mazket
<br /> _ ' vatue oi the PropeRy immediately before the takmg is equal to or greater than the emount of the sums secured by this Secur�y � ,:,
<br /> `:? '� tnsUument trnmediatey before the taAing, un0ess Bortower and Lender othenvfse agree in writing. the sums secured by tAis SeCUrityr —
<br /> '� " � � ����'j Instrument shail be rectuced Dy the amount of tha procesds muftipfred by the fotlawing fraction: (a) the totat amount of the sums —
<br /> secured immediatery 6efore the talcing.divided by(b)the fa'c market vaNe ot the Property unmedtately before the talcing.AnY balance � s
<br /> - • shall 6e pald to Bortawer. In the event of a paAf�l tekfig of the PropeRy h whbh the tea maAcet vstue of the PropeRy hnmediatery �"' ��
<br /> , _ Detore the taking is less than the amount ot the sums secuced tmmediatety befare Me tak(n ,untess Borrower a�d Lender otherwise .'��•�.`''�
<br /> D a, t;_�:-.—�. .
<br /> - agree in writtng or untess appGCable law otherwise provfdes. the proceeds shaU be 8ppiied to the sums seCUred by this SeCU�y --��
<br /> • ' ✓ Instrument v�hather or not the sums are then due. , '
<br /> . I!the Praperty is abandoned by Bonowar,or B,after rtotice by Lender to 8orrower that the condemnor oftera to make an award or � _�:".�
<br /> setUa a claEm for damages, Borrower fails to respond to Lender within 30 days aRer the date th9 notke Is gNen,Lender is autlforimd • ��;�A=�
<br /> . to collect and epply the proceeds,at its optton,eIlher to restoration or repah at tt�e Froperty or to the sums secured by thts Securdy �'#�"����..
<br /> a�
<br /> �� � tnsUument,whether or not then due. •
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<br /> . Untess Lender and Borrowar otherwise agree in writing,any appiication of proceeds to principai Shal1 noi eutend ar postpone the ;, ?�m-;
<br /> :.�_ • ' . due date of the monthy payments referred to in paragraphs 1 and 2 or change the amount of sucb payments. . . ;;._:�:f`
<br /> 11. Borrower Not Reteased: Forbear�nce By Lender [dot e Waiver. Extension o} sne cime tor payment or �.
<br /> < • moddicatton oi amoRizaUon of the sums secured by this Security instcument�entsd by Lender to any successor in trKerest o}BortOwer • ='"�"
<br /> • sha11 not operate to retease the IiBbiGty of the original Bortower ar Bortowefs successors in mteres� Lender shalt not be requUed to _ � �'.
<br /> �. , . ' commence proceedings agafist any successot tn interest or retuse to mRend tcne fot payment or otherwise mod�yr emortizatlan of the •- ' -���g�
<br /> � • ' sums seeured by this Security Instrument by reason of 8ny demand made by the original BoROwer or BoROwers suCCessors in . : �+?�� :
<br /> '�r: �A.
<br /> . interest. Any foPoearance by Lender tn exercising any dght or remedy shali not be a wawar of or prectude the exercise ot any dght or ;:,;�,;:;'
<br />- - remedy. '..i J�
<br /> � 12. Successors a�d Asstgns Bound; Jofnt sRd Several Liataility; Co-stgnera rne covenenu and • `, °
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<br /> . agreements of this Security Instrument shalt birtd and benefit the SucceasoB and asslgns of LenQei end Borrower. sub�ect to the � -�`•�
<br /> ��
<br /> ' provisions of paragraph 17. Bonowers covenants and agreements shau be jobt and sevetat. My 8orrower who Co-signs thts Securiry -
<br /> � Instrument but does not exeCUte tt�e Note: (a)is co-signing this Securlty Instr�ment ony to mortgage. grant, and convey that � -�
<br /> � � 8ortowers interest in the Property under the tertns of this Secur'rty Instrument;(b?�s not personatry oDligatea to pay the sums secured , ' .
<br /> . ; by this Securrty instrument; and (c) agrees fnat lender and any other Borrower may agree to extend, modity, brbear or make any � .
<br /> ' aCCOmmodBt�ons wRh regard to tertns of this Security InSUument Or the Note wRhout th8t Botrower's conSeot. '
<br /> � ' 13. Loan Chargea If the loan secured by this Security In�UUmenl is subject to a law wh�h sets maxtrnum Ioan Charges, � ,
<br /> and that Iaw Is finatty interpreted So tha! the interest or other Ioan charges coitected Or to be coll8cted in Connection with the toan ,: ,
<br /> � exceed the permined nmfts, tnen; (a)any sucb toan charges shall be reduced by t�e amount necessary to reduce the charge to the ���, .
<br /> `�' . • permitted Iimih and(b)any sums atready coltected lrom 8ortower whkh exceeded pertnitted limtts wiil be refunded to Bortower. Lender ; • • ,
<br /> • � may choose to make this retund by teducmg the principal ov+ed under the Note or by making a d�ect payment to 8onower. If a "
<br /> refund reduces princfpai,the reduction will be treated es a paRial prepayment without eny prepayment Chfltge undar the Note. , `
<br /> 14. NOliC68. Any notics to Borruwer provlded for in this Securiry Inguumen3 shall be glven by delhrering (t or by mailing R by �
<br /> , � f'ust ctass mail uniess epplicabte �aw requUes use o!another method. The not�e shell be dtrected to the Property AOdress or any
<br /> • � other address Borrower designates by notice to lender. My notke to Lender shall be givan by flrst ciass mail to Lender's address ,
<br /> Stetetl herein or eny other address Lender tlesignetes by noNca to Bortower. Any notice ptoviQed tor In thls SecurRy InStrumeM sheil ___ _
<br /> .� � � be deemed to have been g�ven to Borrower or LenQer whan given as provlded tr+ this paragraph. , �
<br /> ;��, � 15. Governing Law; 3everablUty. Tn�s securny Instrument sAall be govemed by federai �aw and th9 law of ine �
<br /> ;� , .
<br /> _,,:• jurlsdictlon In which the Property Is loceted. In the svent that any prcvislon or clause ot tMS SecutRy Instrument or the Note confiicfs •
<br /> „� • v�ith appiicebte law, Such contlict snall not attect other prOVislons of this Security Instrument ot the[VOte whicn Can be 9iven BHect
<br /> . vnthout the coniticpng provision. To this end the provisions ot this Security InsUUmeat and the Note ere deciared to ba severable.
<br /> • � 16. Borrower's Copy. Borrower shall be given one con}ormed copy o!the Note and of thls Securityr Instrument. •
<br /> 17. Tr�nster of the Property or a Beneficial I�terest In Borrower. I} all or eny peA of the ProDerly or any �
<br /> "� interest in it is sold or transterred (or if a Dene[klat interest ln Borrower is sold or transterted and 8onowei is no! a naturat person) �. .
<br /> . wdhout Lender's prior wrillen consent,Lender may,at its optlon, requUe imm80iete peyment �n full of all sums secured by this Secur'Ry • -
<br /> � ' Instrument. Howevor,this option shall not be exerc�sed by lender il exercise Is prohbited by federal law as ol the date of this Security • ,
<br /> Insttument. . ..
<br /> . If Lender exerr,ises this option, Lender shall give Borrower noHce of 8ctelereti0n. The notice shall provfde a period o} not less '
<br /> ' • t11an 30 deys ftom ihe date the not�ca is delNer6d or meded within whiCh th9 Borrower must pey e�l Sums SeCUred by this SeCUrity
<br /> � InStrument. �f BotrOv�er fadS to pay these Sums pnor to the expiration of MiS pBtioO,lentler may invoke any remedies pe�mRted by this ' .
<br /> . SBCU�Ay �nsirument v�dhout turther not�Ce Or demant) on BOffOWQf. Fo�m 70?8 9/BO '
<br /> � Ff019LM01'Oi97) Yagn !ol S .
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<br /> 698
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