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<br /> � , � 7. Protection of Lende�'s Rights in the Propetty. �t 6orrower (sils co pertorm tne covenancs ane agreements ,
<br /> �� contained in tAis SBCUrity�nsUument,or tt�ere is 8 Iegat proceeding that msy S��car►try aNect LendePs rights in the PropeRy(such as �, < < • .. _'
<br /> tt
<br /> . . a proceedmg in benkruptcy,probate.tor condemnation or torfeihue or to enforce taws or reqiulations).then Lender may do and pay tor � _
<br /> ` ' . � � whatever is neCessary W p�otect the value ot tha Property and lender's rights in tne Property. Lenders actians may include paymg � ' �
<br /> ' ; any sums secured Oy a fien which has priwity over this Secur�ty Inshumsnt, eppearing in court, paying reaso�ab(e aitomey's tees and � �
<br />• ' ' . ,� entering on the Pmperty to matce rapaPrs. AGhough LenQer may teke action under this parag�aph 7.Lender does not have to do So.
<br /> , ' My amounts disbursed by Lender uncter this para9raph 7 ShaU become addhlonel debt of Borrower SeCUCed by this Security '��r
<br /> � � t Insuumen� Untess Borrower and Lender egrea to other terms ofi payment, these amounts shatl bear mterest trom the date of� ,s` 'y
<br /> � ' � d�sbursement at the Nots rate and shaU be payabte,w@h interest.upan notiee from Lender to Borrower requesting paYment + � �
<br /> � , � .� 8. Mortgage Insurance. If lender requrced moR�ge insurence as a cond�io�ot making the toan s�ured by this SeCUr�y�uv E . . - .
<br /> � Insuument, Borrower shall pay the premlums requ'aed to mainmuf the moRgage Insurance in atf8ct. If.tor any reason,the mortgaga� � . - _ . -
<br /> ' insuranCe Coverage requffed by Lertder lapses or ceases to be in effect,gorrower 5hatl pay the p�ams required to obraln coverage ` .. . '
<br /> suhstanY�y equivatent to the mortgage insurance p�eviously m eHect,at a cost substanti811y equivalent to the cost to Borrower of the� �� "_
<br /> � mo rt g age in su►a n c e p:e v i o u s l y i n e ft e c t. h a m a n a R e m a t e m o r l g a g e i n s u r a r a A A r o v e d b y L e rt d er. B substan ti a ll y 8 quhralant mo rt g a ge - .- -_:,-- -,– '--
<br /> , # insurance coverage is nat a+railab�e. Barrower shall pay to Lender ea.ch manth a sum equal to one4wetRh of tne yearfy mortgage
<br /> � uisurance premium being paid by Borrower when the insurance coverage�apsed or ceased to be in effect. Lender will aecept,use and
<br /> reta�n these payme�ts as a toss reserve � Geu of mortgage insuranca Loss raserve payments may no longer be required, at the ' �
<br /> option af Lender, it mortgsge insurance coverage {fn the amount and for the period that Lender requires) provtded by an msurer ,
<br /> - approved by Lendei again DeCOmes availabts end is obffiined. Borrower sha0 pay tha premvms requQetl to mantain moRgage -• � -
<br /> � �surance m eftect, or to provlde a loss reserve, unUl the requaement for mnrtgage Insurance ends rt� accordance wRh any wrt'Ifen • , ,
<br /> ` . agreement hetween Barrower and Lender or appl'r.able law.
<br /> � ' 9. Inspection. Lender or �s �qent may malce reasonabie enVies upon and inspections ot Me Property. ksnder shBD give �
<br /> � ' Borrower noY�ce at the Hme of or prior to an b►spection specNying reasonabte cause tor the�nspectton. f ' ' -�=--_
<br /> . ' 10. Condertmation. The proCeeds ot any award or cfahn for dsmages, direct ar cansequential, in eonnectlon wRh any 4 - ''°�.=z
<br /> � cendemnauon or oMer taking of any paR o1 the Property,or far conveyanee in fieu af co�demnation,are hereby assigned and shall be � � __
<br /> pa�d to LenQec • :��J�k-
<br /> � • • � In the avertt ot e total taking of the Property, the proceeds shaU be applietl to the sums secured by this Securiry lnsuument. . ���m �
<br /> ,c ,,
<br /> whether or nOt t�8n Cue, wRh any exeess paid to 8orrower. In the event of a partia�takui9 ot the Property �n which 1hB Tav m8rket �"��� ;'���*�
<br /> ' � value ot the Property cnmediately betore the takmg Is equal to or greater than the amount ot the sums secured by this Securiry . . � .-�. ��_
<br /> ' � ' tnsuument unmediately before the taking, un(ess Bortower and LenCer otherwlse agree in writing. the sums secured by this Securily . �
<br /> Instn,ment shall be reduced by the amount of the praceeds muftiplisd by ffie fottowing fract�onc (a) the total amount of the sums � -� �_
<br /> , � ' ' the fair maAcet va�e of the Pro e lmmediatety before the taking. My bafanee ` ,� �.` ����„�_
<br /> , securetl immedi3tey betore the taking, divided by(b) P nY
<br /> shau be paid to Borrower. In the evont of a partial taking of the Property 'ai which the fair market value ot the PropeRy unmedi3tey �
<br /> betore the taking is less than the amount of the sums secured immedtatey before the taking. unless Borcower and Lender otherwise ;,;i't'.�;f�;.
<br /> � � ' agree in wriNng or u�less appfxable Iaw otherv+ise provides, the proceeds shall be appNed to the sums secured by this Securiry . _ -�-"� '':
<br /> . � Instrument whether or not the sums are then due. � .�3�Y''�
<br /> tt the Property is abandoned by 8orrower,or if,after notfce by Lender to Bortower that the condemnor offera to make an awerd or • ;��;';,"r.:�';"
<br /> ' sett�e a ctaim tor damages, BoROwer fails to respond to lender withm 30 days after the date the notice is given,lender is authorized ., _;�,-%•�'���;F�•:
<br /> ' --�''';`
<br /> ' to collect an4 apply the proceeds, at its option,eithar to restoration or repab of tAe Property or to the sums secured by thts Seeurity �•„};,ti:-,.�
<br /> ` InsUument,whether or not then due. �''.•'"���
<br /> Unless Lender and 8ortower otherwise agree in wrding,any application of proceeds to principat shall not extend or pastpone the �. �_H'�
<br /> due date of the monthty payments re(erred to in paragraphs 1 and 2 or Change the amount ot suCh payments. � '`"`�r`�
<br /> '; � _ 11. Borrawer Not Reteased: Forbearance By Lender Not a Waiver. Extension ot cne c�ne ror payment or � . "�-�'`�<
<br /> �� ,�.� ..
<br /> � modfiication of amortization ot the sums secured by this Security Instrumant granted by Lender to any successor in�r►ferest o!Borrower , . . • y-_
<br /> ��s esl:_,�?e
<br /> shell not o erate to release the Iiabil' of tAe ar fial Bottawet or Bortowefs Successors in interest. Lender shell not be requtrAd t0 - , +�-- �
<br /> , . P �Y I9 .. -. .:j��:_
<br /> commence proceedings agamst any successor in interest or refuse to extend time for payment or otherwise modNy amortl�ation ot tfie � � ,. �;
<br /> • sums secured by this SecuiRy tnsVument by reason of any demand made by the orlglnal BnROwer or Borrowers successors m . � ;'�-t'�'�'
<br /> ,!I , ��;.,•�
<br /> . . . interest. My forbearance by Lender in exarcising any rlght or remedy shall not be e watvet of or precNde ths exerctse oT any right or ` ��°�
<br /> -r'�?-.�',,
<br /> • remedY• ':__!�'.
<br /> . 12. Successors and Assigns Bound; Joint and Several Uability; Casigners. Tne co�enants ana •- 7`
<br /> ��.;,. ..
<br /> agreements o! this Security� Instrument shall b�6 and banefR the successors and assigns of Lender and 8onower, subject to the -
<br /> , provU+a:+s of paragraph 17. 8orrowers covenants anA agreements shall be jolnt and severel. Any Bortower who co-signs this Security � . ;�_ •
<br /> Instrument but does not exeCute the Note: (a) is ca-signing this SeCUrRy Instrument onty to mortgage. grant, and Convey that .
<br /> Bortower's�nierest in the Property untler the terms of this Securityr Instrument; (b)is not personally obligated to pay the sums secured . • . .
<br /> Dy th�s Security instrument; 8nd (c) 8gree5 t�at Lendet and any other 8orrower may agree to extend, modify, torbeat ot malce any � � '•�";� •
<br /> j accommod3tlons wRh regard t0 terms o}this Securiry Instrument Or the NOte without that BOrtowePs Consent. �
<br /> # 13. Loan Charges. i1 the loan secured by this Security Instrument fs subject to e Iaw whlch sets maximum loan charges,
<br /> � and that 4�w is fNalry interpreted so thai the lnterest or other Ioan charges colleCted or to be cottected In connectlon with the loan , . • �
<br /> • i _..
<br /> exceed the permRted IimAS, them, (a)any such loan Charges sha��be reduCed by the emount necessary to reduce the Charge to the _ , . •
<br /> �<i . I permitted funA;and(b)any sums a►ready coltecced Nom Borrower vrh�h exceeded permitted I'units will be reh,nded to Borrower. Lendar . .
<br /> � may choose to make this refund by reducing the principal owed under the Note or by making a dYect payment to 8ortower. 1f a
<br /> ' ' retund reduces princtpab t�e reduction wiU be Veated as a partlal prepayment wfthout eny prepayment Charge under the Note. �
<br /> , ,
<br /> � � 14. NOtiCBB. My notice to Borrower provided for in this Security Instrument shall be given by delivering il Cr by mailo�g if by
<br /> first CIaSS meit unless appliCable Iaw requires u5e of anOther method. The notice She�l be dQeCtetl to the PrOperty Address or sny . •
<br /> other eddrr�5s Bo�rOv+er designates by not�Ce to Lender. Any nOtiCe to Lender s�all be given by first class mail to Lender'S eddre55 �
<br /> '," j stated herem or any other address Lender designates Gy notice to BorrOwer. Any not�ce provided for m this SeCUrity Instrument shall
<br /> � be deemetl to have been grven ta 8orrower or Lender when given as provided in this paragraph.
<br /> �. . I 15. Governing Law; Severability. Tn�s sacurny Instrument snan ne governed cy �ederai �aw and tne �aw o+ me , .
<br /> ;,`' �unsd�ction m wh�ch t�e Propetty �s �oCeted. In the event thet any provision or c�ause Ot thls SBCUrIry Instrument or the Note ConfliCts
<br /> � wdh appl�cable law. such conflict shall nol aftect other provlsions ol thls SecurAy Instrument or the Note v�h�Ch Can be gNen BKect �
<br /> � � wRhout the confl�cting provisi0n. To this end the ptovisions of this SeCUrity Instrument end th8 Note are deClared t0 D9 Severeble.
<br /> � � 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this SeCUrity tnstrument. � ,
<br /> � � � 17. Transter of the Property or a Beneilcial tnterest ln Borrower. u au o� a�y part ot tne Property o. a�y I'
<br /> . mterest m A �s sold or translerred (or il a benefical intetest in 8onower is sold or traosferred and 8�trower is not a natural person� t �
<br /> � w�thout Lentler's pnor wrRten Consent, Lander may,at AS oplion, requue�mmediate payment m tull 0�all sums secured by ih�s SeCUrAy i .
<br /> . ' • Inst�ument However,this option Sbell not be exercised by Lender�f exerc�50 �s proh�brted by federal�aw as of the date of th�s Secunry � � ;
<br /> �nSUUment � � '
<br /> � if �ende: oxerC�ses th�s opt�on. Lender shall yNe 8orro+�er nOt�Ce ol ecCeleraUOn Thp not�Ce snail prowde e penod of not �955 . '
<br /> �han 30 daYS Irom the tlate the not�Ce �S delroered or maded wnnm wh�Cn the 80�rower must pay a�� SumS seCWOtl by th�s Securrty
<br /> _. �nstrument �} BonoNer fads to pay these sums pnor to the exprtabon ot th�s penod. Lender may ��voke any rgmed�es permittetl by this
<br /> SeCUrdy Instrument wRhoul turther not�Ce or d@mand on 80rrovler. Fo�m 707A 9.90
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