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<br /> • Bonower may cure sucfi a default and remstate. as provided in paragraph 18, by causing the action or proceeding ta be � , _
<br /> dismissed with a ruling thet.in Lenders good faith determination, precludes foAedure of the Bortower's mterest in the Prnperty or ,, ,
<br />' s i other matenal impairment of the I:en created by this Secunry Instrument or Lender s secur�ty �nterest Borrower sha7 atso be m , •_-,
<br /> detautt� Bortower. dunng the�oan apP;icaUOn process. gave matena!ty false or maccurate mtortnaUon or statements to Lender(or .F���'3.�'
<br /> � taued to prov�tle Lender wRi� any matenal mfortnaUon� m connection wRh the ioan evfdenced by the Note, mduding. but not { . , �..
<br /> � limd� to. representations conceming Borrower's occupancy ot the PropeRy as a pnncipal residence. If this Securiry E �l"�'
<br /> � i Instrument �s o� a leasehold. Bortower shall comply with ali the provisions of the lease If Borrower acqwres tee utte to the k,
<br /> i Property. the leasehold and the fee tiqe shall not merge unless Lender agrees to the mergEr in wrt6ng. • �,
<br /> � 7. Protectlon of Lender's Rights in th�Property. �t Borrower ta�is to pertortn the covenants and agreements � , . ,�-.
<br /> ' contamed m this Sewrity Instrumen� or there is a Iegai proceeding thet may signficanUy aftect Le.�der s rights �n ihe Property ' _
<br /> � (such as a proceeding m baniwptcy. probate,for condemnation or fodeiture or ta enforce laws or regulations).then Lender may
<br /> do and pay tor whatever�s necessary to proteet the value of the Properry and Lender's nghts m the Property. Lender's actfons _
<br /> � may mdude paying any sums secured by a lien wh�ch has pnority over this Searrty Instrument. appearing m court. paNng �
<br /> reasonable attameys'fees and entering on the Properiy to malce repairs Afihough Lender may take action under th�5 paragraPh ,�.� �
<br /> • j 7. Lender does not have to do so N ', "
<br /> � Any amounts disbursed by Lender under paragraph 7 sha0 become addRional debt ot Bortower secured by this Security , ,,,
<br /> fi InsVument. Unless Bonower and Lender agree to other tertns ot payment. these amounts shall bear mterest from the date of �
<br /> � idisbursement at the Note rate and shall be paysble,with interPst.upon notice from Lender to Bortower requesting payrr�ent. . . _—
<br /> � S. ELlCtlg3$9 IRSlliBilCB- !} Lende� required mortaage msurance as a condition of maldng the loan secured by this � _ `� �
<br /> Security Instrumen�Borrower shall pay the premiums required to maintain the mortgaqe insurancs in effed. If,tor any reason.the _ _ ____,__ _�__—
<br /> mortgaqe insurance coverage required by Lender lapses or ceases to be in eftect. BoROwer shall pay the premiums required to
<br /> � obtain coverage substantiaily equivalent to the mortqage insurance prevfously in eitect. at a cost substenUalhl e4��len1 to the �� ""�'�<`.�'��
<br /> �� cost to Borrower of the mortgage insurance previously in effect. from an altemate mortgage insurer approved by Lender- if , �� �:-
<br /> substantialiy equivaient mortgage insurance coverage is not availabie. Borrower shall pay to Lender each mo�th a sum equal to _��_.
<br /> : � onetwetfth of the yearly mortgage insurance premfum being paid by Bortower when the insurance coverage lapsed or ceased to . . ..� .- -
<br /> he tn effect. Lender will accept use and retain these payments as a toss reserve in lieu of mortgage msurance. Loss reserve �rf;,,
<br /> • payments may no longer be►equired, at the option af Lender, ff m�dgage insurance coverage (n the amount ana for the penod . `" ;
<br /> ' ':�. s
<br /> that Lender requires) provided by an insure► apFroved by lender again becomes available and is obteined. Borrower shall pay _ � .,
<br /> - � the premiums required to maintain moRgage insurance in effect, or to provide a loss reserve. until the requrc�ent tor mortgage . _ ��x�
<br /> . insurnnce ends in accardance with any written agreement betweec+ Borrower and Lender or appiicable law. , ;b, _,
<br /> 9. InspectIon. Lende►or its agent may make reasonabie entries upon and(nspec6ons of the Property. Lender shall grve . ,'-'�'j- -=
<br />!'`` • Bonower notice at the time of or pdor to an inspecdon speci(ying reasonable cause tor the inspection. . . �.�-
<br />' 10. Condemnation.Yhe proceeds of any award or Gaim tor damages. direct or consequential.in connection wfth enY ',�' ."""��=--
<br /> condertuiation or other taldng of any part of the Property. or for wnveyance in lieu oi condemnatian,are hereby assigned and •, :1�
<br /> shall be paid to Lender. � r��.
<br /> .._s�;r� -' �.
<br /> � In the event of a total taking of the Property. the proceeds shafl be appiied to the sums secured by Ihfs Security , _ i .
<br /> • Instrume�t,whether or not then due,wRh any excess paid to 8ortower. In the event of a pardai taking of the Property in which � ti ; �-,
<br /> • the falr market value of the Property immediatety before the ta{dng is equal to or greater than the amount of the sums seared , : j,•
<br /> by this Sewrity InstrumeM immediatety before tfie taldng, uniess Borrower and Lender othervinse agree In writing. the sums •��_ ' �-
<br /> secured by this Security Instrument shsll be redi:ced by the amount of the proc�eds mul�plied by the following fracUOn: (a)the j.. �
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<br /> • total amount of the sums sewred immediately b2`ora ihe taldng. divided by(b) the fair maricet value of ths Praperly immediately __ y� ,,� �M1,.,
<br /> , " before the taking.My balanCe shall be pafd to Bo:.*awer. In the event of a pa.tial tel�ng of the Praperry in w��ch the talr market ,� �
<br /> ' vatue of the Properry fmmediateh before the tafcng is less than the amount of the sums secured immediaiery befora the taking. -. "..;}� ; �s_
<br />_• unless Bortower and Lender atfiervvlse agree (n writing or untess appllcable law oihenvis2 Drovides. the proceeds shall be :.;':: , f#� � ��"
<br /> applied to the sums secured by this Securiry Instrument whether or not the sums are then dsae "�;'.. lt : �=
<br /> . R the Property is abandoned by Borrower, or it, after noUce by Lender to Bortower that the condemnor oftets to make an �;�. t' �# f�.
<br /> award or settle a daim tor damages, Bortowar tails to respond to Lender within 30 days after the date the notice is gNen. - • - .�s
<br /> � . Lender is authorized to collect and apply the proceeds, at its opUon, either to restoratlon ot repalr ot the Property or to the }�t .
<br /> sums secured by this Securfty Instrument,whether or not then due. �:n�,r�•. •" �,e�-:.
<br /> � UNess Lender and Borrower othenvise agree In writing, any application of proceeds to pdndpal shall not extend or � :�:`�'
<br /> pcs�one the due date of the monthty payments referted to in paragrephs 1 and 2 or change the amount of such payments. ' ''� `�''� '
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<br /> � 11. Borrower Not Released; For3szarance By Lender No! a Waiver. Extension ot the Ume tor payment or __._� ' ���..
<br /> modficaUon of amoRlzation of the sums seare�by thls Secutity InsUument granted by Lender to any su:a.'ssor In interest of '�'_ .�!�----
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<br /> ' Borrower shatl not operate to retease the liablinr ot the odglnal Borrower or Borrower's successors in Urterest. Lender shall not ^��
<br /> �� be required to commence procz=dings against any successor In Interest or refuse to �aend Ume for paymenl o� othervvise _
<br /> mod'Ry amort(mUon of the sums secured by thls Secudty Instrument by reason o1 any demsnd made by the odglnal Bortov�er or '." :-. -- _
<br /> • 8ortower a successors ln interest Any forbearance by Lender In exercising any dght or r�.,�edy shall not be a waNer of or �' �;�'�+ �_
<br /> preclude the exerdse of any right or remedy. ' ��„� �
<br /> � 12. Successors and As�igns Boun d; Jo in t an d Sever a 9 U a b i t i t y; C o-s i g n e r s. 7 t�e c o v e n a n t s a n d �=-_.Y=_
<br /> {T�., "
<br /> , agreemenls of thls Securily Instrument shall bind and be�efit the successors and assigns o} Lender and Borrower,subject to the , *�-�_
<br /> j�b
<br /> provlslons o! paragraph 17. Borrower's covenants and agreements shall be Joint and several. Any Borrower who co-signs this E �'
<br /> Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument onty to moRgage,grant and convey "��`-!-'���
<br /> . � that Borrower's i�terest In the Property under the terms of thls Security Instrument: (b) is not personally obligated to pay the • . ��`•�
<br /> sums secured by this Security InsWment: and (c)agrees that Lender and any other Bnrrower may ac ae to extend. modity. �
<br /> • torbear o�make any accammodaUons wfth regard to the terms ot this Secudty Instrument or the Note w:?�out that Bortower's
<br /> . • consent. �' �
<br /> � 13. Lo819 ChBiges. ff the loan secured by this Securlty Instrument is subjeci to a law whicA sets maxlmum loan ��=�+-=•��
<br /> . charges.and that law is tnalry interpreted so that the interest or other loan charges co'lected or to be collected in connection ,
<br /> with the loan exceed the permitted Bmits. then: (a) any such loan charge shall be reduced by the amount necessary to reduce .
<br /> . the charge to the pertnftted limri; and (b) any sums already collected from Borrower which exceeded permitted flmits will be
<br /> ' , retunded to Bortower. Lender may choose to make this re(und by reducing the pdncipal owed under the Note or by making a
<br />� � dlrect payment to Bonower. It a refund reduces pdncipat, the reductlon wfll be treated as a paNal prepayment without any �
<br /> ' prepayment Charge under the Note. • ��
<br /> � - 14. N04iCe9.Any notice to Bortower provlded for in this Securily Instrument sha!I be given by delivering n or by mailing it .
<br /> by first Gass mait unless applicable law requlres use of another methad. The notice shall be directed to the Property Address . , —
<br /> � or any other address Borrower designates by notice to Lender. Any noUce to Lender shall be glven by first class mail to
<br /> - � ; Lender's a�3re;.: �tated hcreln or em� ethe�A�1�1�P4a�ender designates by notice to 8orrower. Any notice provided for in thls �_'
<br /> � 3ecurity Instrument shall be deemed to have been gnen to Bortower or Lender when given as provided�n this paragraph. .
<br /> . 15. Governing L.aw; S8V9I8b111ty. This Security Instrument shall be govemed by federal law and the law of the �
<br /> � jurlsdiction in which the Prope�ty is located. In the event tFwt any provlsion or ctause of this Securiry Instrument or the Note
<br /> � conflicts with applicsble law, such con0ict shalt not effect other provisions ot thls Security Instrument or the Note which can be , � _
<br /> • given etfect without the conflicting provision. To th�s end the prov�s�ons of this Security Instrument and the Note ere doclared to .
<br /> be severnMr �. , . �:.�
<br /> ' 16. BOlfOwef'9 COpy. 8onower shall be gnen one conlormed copy o1 the Note and o1 this Securily Instrument. • ' '
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