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<br /> I. • Dorrowar may curo such e delault and re�nstalo, as provided In parngraph 18. by causing the action or proceeding to be
<br /> ; , dlnmiseed with a rullnp thnt. In Lender's gond falth dotorminatlon,prQCludea f�rteiture of the Borrawer's Interest In the Property or
<br /> , othor matonnl Impalrrtmnt ol th4 Ilen creatod by this Sncunty Instrument or Lender's security Interost. Borrower shall aiso be In
<br /> clnimilt 11 Borrowcr duiln� �ha lonn npplicntlon procoss. gnve mnit�nnlly lalsa or ineccurat�inlormetfon or stetemonis to Lender (or
<br /> i Iniled to provldo Londor wlth any mntorinl Intormntlon) ui connoc�lnn with lho loen ovidenced by ihe Note. including, but nol I .
<br /> Ilmltod lo, roproaaNuqone concorNng Borrowor's occupuncy of iho Properry as a prinGpel rosidenco. It ihis Secunty I �
<br /> ; Inatrumont i� on o leosehold. 8orrower ahal; comply with ell the prowsions of tho lease. If Borrowe� ncqufres feo title to the `
<br /> � Prpperty, tho lonsohold nnd the Iee�tltlu ahall not mergo unloss Lender egrees to the merger in wrltmg � -
<br /> i 7. Pr�tectlon of Lender s Rlghta in the PrOpelty. II Borrower Ialls to perfurm the covenants and agreements
<br /> contalned In thls Socurity Instrument, or there Is a legel proceeding ihot may significantly eHect Lender's rights in lhe PropeAy
<br /> (3uch as a proceeding in bankruptcy. probale, lor condcmnatlon or forteiture or to enforce Inws or reguletions►. ihen Lender may �
<br /> do nnd pay tor whatever Is necessary to protact the value of the Property and Lender's rights In the Properly. Lender's actions
<br /> may Include paying any sums secured by a Ilen which hes priority over this Security Instrument, appaaring m court. paying
<br /> � reasonebla aBOrneys' iees and entering on Ihe Property to mako repatrs. Although Lender may take action under this peregraph
<br /> • 7. Lender does not have to do so.
<br /> Any emounts dlsbursed by Lender under paragraph 7 shall become edditional debt of Borrower secured by this Secunty
<br /> Instrument. Unless Dorrower and Lender agreo to other terms ol peyment, these amounts shall bear interest from the date oi
<br /> disbursement at the Note rate and shall be paysble,with interest,upon natico from Lender to Borrower requesting payment.
<br /> 1 8. Mortgaga Insuranee. If Lender required mortgage msurance as a conditlon oi making the loen secured by this
<br /> Security Insirument. Borrower shall pay the premlums requlred to ma�ntain the mortgage insurance in etlect II. for any reason. lhe
<br /> mortgage Insurance coverage requirad by Lender lapses or ceases to be in eHect. Borrower shall pay the premwms required to
<br /> • obtain coverage substantlally equivalent to the mortgage insurance previousiy in eftact, at a cost substenUally equivalent to the ,
<br /> cost to Bortower uf the mortgage Insurance previously fn effecL irom an eltemete mortgage insurer approved by Lender. If
<br /> substantlally equivalent mortgage insurance coverage Is not aveilnble, BoROwer shall pay to Lender each month a aum equal to , .�.:�_
<br /> one-twelfth of the yearly mortgage Insurance premtum beln pald b Bortower when the insurance coveraga lapsed or ceased to
<br /> � be In eflect. Lender wlll accept, use and retaln these peyments s e loss reserve In lieu of mortgage insurance. Loss reserve �'d'�;�-"�`
<br /> peyments may no longer be required,at the optfan of Lender, if mortgage Insurance coverage(In the amount and (or the perlod ,
<br /> that Lender requlres) provlded by an Insurer approved by l.ender agaln bacomes avallable and Is obtalned. Borrower shall pay :. ;�� �
<br /> I the premfums requlred to maintaln martgage insurance in oftect,or to provlde a loss reserve, untll the requirement for mortgage ' 1��L
<br /> I insurenca endo In accordance with any written agreement botween Borrower and Londer or epplicable Iaw. s ,:,:.•-
<br /> 9. It78pdCtlOt1. Lender or its agent may make reasonable entries upon and Inspectlons of the Property. Lender shall give �ti'�•�""-
<br /> � ; Borrower notica at the time of or prior to an inspectlon specilying reasonable cause for the Inspectlon. ',•��-'
<br /> 10. Condemtlatl0tl. The proceeds of any eward or clalm for damuges, direct or consequentlal, In connectlon with any t{ �.
<br /> � I condemnatlon or other taking of any part of the Property, or tor conveyance In ueu of condemnation, are hereby asslgned and '��
<br /> � shall be pald to Lender. . �
<br /> � In the event of a total taking of tho Properly, the proceeds shall be applled to the sums secured by this Security � ��
<br /> � Instrument,whether or not then due,wlth eny excess pald to Borrower. In the event of a parllal taking of the Property In which ��
<br /> _ - ' •h� !�!: m���: :�s!:sa ^! !h° Pr^r°!fi{IrrlmPtllAlPly L]BIOfB the tekina fs equai to or greater than the amount oi the sums secured
<br /> > > by thls Security Instrument Immediatoly betore the teking, uniass Borrower and Lender otherwise agree in writing, the sums �-�
<br /> . � secured by thls Secur(ty Instrument shall be reduced by ihe amount of the proceeds multiplled by the fqllowing fraction: (a)the �; `
<br /> . � total emount of the sums secured Immedlately before the taking,divlded by (b) the tair market value ot the Property Immedlately ' ;
<br /> before the taking. Any�alance shall be �ald to Borrower.In the event of a partlal taking of the Property In whfch the fair merket
<br /> value of the Pmperty immedlately before the taking Is less than the amount of the sums secured immedlately betore the taking, '���- ` �i ,
<br /> + I unless Borrower end Lender otherwise agree In wdting or unless applicable law otherwlse provides, the proceeds shall be '.
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<br /> applled to the sums secured by this Security Instrument whether or not the sums are then due. f� :
<br /> �. � If the Property Is abandoned by BoROwer, or it,aiter notice by Lender to Borrower thet the condemnor otters to make an
<br /> � award or serile a claim fot damages, Borrower fafis to respond to Lender within 30 days after the date the noUce Is glven,
<br /> � Lender is authorized to collect and epply the proceeds, at its optfon, either to restoratlon or repalr of the Property or to the ��
<br /> sums secured by thls Security Instrument,whether or not then duo.
<br /> �: .� Unless Lender and Bortower otherwise agree In writing, any applicatlon of proceeds to principal shall not extend or ;T �
<br /> t�; postpone the due dute of the monthly peyments referred to In peragrephs t and 2 or Chenge the amount of such payments. � f � -�,;�
<br /> 11. Borrower Not Released; Fvrbearance By Lender Not a Waiver. Extenslon ot the time tor payment or � .__
<br /> '; modfflcatlon of amortizatlon of the sums secured by thls Securtty Instrument granted by Londer to any successor In interest of �.;�.
<br /> . t Borrower shaii not operate to release the Ilabllity of the original Borrower or Bortower's successors In Interest. Lender shell not �-yaT,; ,��
<br /> ; i be required to commenco proceedings agalnat any successor In fnterest or retuse to oxtend time tor payment or otherwlse c»
<br /> �. . modNy amort{zaUon of the sums secured by this 5ecurity Instrument by reason of any demand made by the odgtnal Borrower or �_
<br /> BoROwor's successors in Interest. Arry torbearance by Lender in exercising any right or remedy shall not be a walver of or •°�t„�'-;-
<br /> predude the exerciso of eny right or remedy. ����
<br /> � • � � 12. Sucaessors and Assigns Bound; Joint and Several Uability; Co-slgnere. 7he covenants and �a*
<br /> ' agrsements oi this Secudry Inst�ument shall bind and benefit tho successors and assigns of Lender and Borcower,subJect to tho �-��=
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<br /> ; provislons ot paragraph 17. Borrower's covenants and agreements shall be Jofnt and soveral. Any BoROwer who co•slgns thls �. . �
<br /> Security Instrument but doeo not execute the Note: (a) Is co-signing this Security Instrument only to mortgage.grant and convey _ �; �..,
<br /> thet BoROwer's Interest In the Property under the terms of this Security Instrument; (b) Is not personalty obligated to pay the ��F�.
<br /> sums secured by thls Security Instndmenh and (c) agrees that Lender end any ot her Bortower may agreo to e x ten d, mo d i t y. �
<br /> forbear or make any accommodatlons with regard to the tertns of this Security Instrument or the Note without that Borrower's �
<br /> � consent.
<br /> 13. Loan Che1'ges. If the loan secured by thls Security Instrument Is subject to a law which sets maximum loan
<br /> � charges, and that Iaw Is flnally Interproted so that the Interest or other loan charges collected or to be collected In connectlon
<br /> with the loan exceed the permitted Iimits,then: (a)eny such loen charge shall be reduced by the smount necessary to reduce
<br /> the cherge to the pertnitted Ilmit; and (b) any sums already collected from Bortower whlch exceeded pertnitted Iimits wlil be
<br />- , refunded to Dorrower, Lender may choose to make this refund by reducing the princlpal owed under the Note or by making a ,
<br /> . � dlrect payment to Borrower. If a retund reduces princlpe6 the reduction will be treated ns a parUal prepayment without eny "
<br /> ` prepayment charge under the Note.
<br /> � 14. NotlCee.Any notice to Borrower provided for In this Secvdty Instrument sheil be given by delivering it or by mailing it
<br /> � by flrst class mall unless applicable law requlres use of another molhod. The notice shaii be dlrected to the Property Address
<br /> or any other eddresa Borrower deslgnates by notice to Lender. Any notice to Lender shall be given by (irst class meil to
<br /> ._� �__�.. .. .,.�..,.va.a..,e.. �o,.ao. ,�ooi.,�ofo� h� r,�u�p tr, Rf1Rl1WPf Anv nntice orovlded for In ihls
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<br />�� Sacurity Instrument shall be,deemed to heve been given to Borrower or Lender when given es provided In this paragreph.
<br /> . 15. Qoverning Law; Severabllity. 7his Security Instrument shnll be govemed by tederal law and the law ot the
<br /> Jurisdiction in which the Property is located. In ihe event that any provision or clause of this Security Instrument or tho Note
<br />- conllicts wilh appllcable law, such contlict shnll not aHect other pravis!ons of this Security Instrument or the Note which can be
<br />= given eftoct without tha conilicting provislon. To thls end the provislonc of thfs Security Instrument end the Noto are declarcrd to
<br />� be sevoreble. �
<br />- 16. Borrower's Copy. Borcower shnll be given one conformed copy ot the Note and of thfs Security Instrument.
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<br /> t't.i1G.LtdU��/971 �
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