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<br /> ' • Borrower may Cu►e sucfi a defaul� and reinstate. as pronded in paragraph 18. by causmg the ad�on or proCeeding to be � , � . ' ''
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<br /> ; dism�ssed with a ruling that.in Lender's good faRh detertnmaUo�. precludes forferture of the Borrower's mterest in the P�opeRy or � —
<br /> other matenai impairment of the Gen aeated by this Securiry �nstrument or Len�er s secunry mterest. Borrower shalt also be m � _
<br /> i default ff Borrawer, dunng the loan application process. gave materialry false or maccurate information or statements to Lender�or �
<br /> j tailed to prowde Lender with any rt►3terial mtortnationl �n connecGOn wRh the loan evidenced by the Note. �nGuding.but not :.�€
<br /> iimited ta. representaUons concemmg Borrower's ocwpancy oi the Property as a p�napal residence- B th�s Secunry �, �,•1�
<br /> Insbvment is on a leasehold. Borrowsr s h a li comp l y wRh au the prov�sions of ihe Iease If Bor*ower acquires fee tNe te the� � _y _
<br /> Property.the leasehold and the tee title shall not merge unless Lender agrees to the merger in wrtGRg. �. •
<br /> ?. Protection o# Lender's Rights in tF�a ProperQy. �f Bortower faiis to pertoan the covenants ana agreements o
<br /> contained m this Security InsVUment. or there is a legal proceedfig that may s�gnficantly a8ect Lenders nghts m the Property i_
<br /> (such as a proceeding in haniwpicy.probate. fa condemnation or fortedure or to enfarce laws or regulations). then Lender may � �
<br /> do and pay for whatever is necessary to proted the value of the Property and Lender's nghts m the Property Lender's acLOns � , , _
<br /> _ ma� indude paying any sums secured by a Gen which has priorrty over this Security Instrument, appeanng m court. paNng � . __
<br /> reasonable attomeys'tees and entering on the Propesty to make repairs. Atthough Lender may take action under this paragraph � .
<br /> 4 7.Len d e r d o e s n o t h a v e t o d o s o. �� '
<br /> � My amounts disbursed by Lende► under paragraph 7 shall become additlonal debt of Borrower secured by this Security Q j , . •
<br /> instrument Unless Bortower and Lender agree to other terms oi payment, these amounts shaU hear interest from tfie date of
<br /> f disbursement at the Note rate and shaU be payabte,with interest.upon notice from Lender to Barrower requesdng payment •
<br /> � S. Mortgage Insuranco. It Lender required mortgage insurance as a cond'Rion of maWng the loan secured by this
<br /> Seeuriry Instrument Borcawer shall pay the premiums required to malntaln the mortgage insurance in eifect If,for any reason,the �
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect, Bortower shall pay the premwms requ�red to ��_ � . ,_r. —
<br /> abtain coverage substanUaily equnalent to the moRgage insurance previously in eHect. at a cost substantialh/ equivalent to the
<br /> cost to Bortower of the mortgaga insurance previousN in effect, from an attemate mortgage insurer approved by Lender If ,4..._.;�
<br /> subs��i�^pffy equ�+alent moRgage insurance coverage is not available. Borrower shall pay to Lender each month a sum equal to � ^ _ M�_,_
<br /> � on�tw�h2h of the yeatry mortgage insurance premium being pald by Borrower when the insurance coverage lapsed or ceasea tc
<br /> " � be in eflect. Lender will accept, use and retain thes=payments as a loss reserve in lieu of moRgage insurance. Loss resene }. „ :.
<br /> k payments may no longer be required,at the option af Lender. 'rf moRgage insurance coveraSe M�e e�ount and for the penad � .� _._, _
<br /> that Lendar requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall Fay � . ;a.;;���.
<br /> � the premiums requUed to maintain mortgage insurance In eHecG or to provide a loss reserve. unal the requirement for mortgaga , �,��
<br /> = insurance ends in accordance wRh anY written agreement between Bonower and Lender ar appGcabia law. :_-�
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<br /> 9. Inspection.Lender or its agent may make reasonante entries upon and inspections of the Praperty. Lender shalt give ��.� .-rw .
<br /> 8orrower notice at the�ne of or prior to en inspecUon specilying reasonable cause for the inspechon. �'�� •�;�;,;?��:;;�.:
<br /> 1 O. Condem�aatian.The proceeds of any award or daim for damages, dired or conseqaenttal. in connection with any , : '�14 ''���_+.:�'"
<br /> condemnation or other taking of any part of the Property, or tor conveyance (n lieu of condemnation. are hereby assigned and . �!�.�i,
<br /> shafl bs paid to Lender. � �� _ ,
<br /> In the event of a total taking ot the Property, the proceeds shalt be app�ied to the sums secured by this Securiry .
<br /> Ins4ument, whether or not then due,with any excess paid ta Borrower. In the event of a partlal taking of the Property in which ` �
<br /> the fair market vatue of the Property immediatety betore the taking is equal to or greater than the amouni of the sums secured _
<br /> by thls Security Instrument immediataly before the taldng. unless Borrower and Lender otherwise agree in wriHng, the sums - ;:,::
<br /> secured 6y th(s Security Insdument shall be reduced by the amount of the proceeds mulUplled by the tollowtng fradlon: (a)the _
<br /> total amount ot the sums secured immedtately betore the taking, d'aided by(b) the fatr martcet value of the Property immediatery , , �
<br /> before the taking.My balance shall be pald to Borrower. In the event of a paRial taldng of the Property In which the tair market , • ��,a? � �` �
<br /> vafue ot tfie Ptoperiy(mmediately before the taking is less than the amount of the sums secured lmmedtately before the taking, � - ��
<br /> unless Borrower and Lender othenvlse agree tn wrfNng or untess applicable law othervulse provldes. the proceeds shall be _�,: �a� '.,.
<br /> applled to the sums sewred by this Security Instrument whether or not the sums are then due. „ __ •
<br /> tt the PropeRy is abandoned by Horrower,or'rf. after notice by Lender to Bortower that tt►e condemnor ofters to make ars •` .:.-,�'� % �
<br /> award or settta a cla(m for damages. Borrower fails to respond to Lender wdhln 30 daya after the date the nottce Is given. "`•r:'�t
<br /> Lender Is authodzed to collect end apply the proceeds, at its opUon, either to restoratlon or repair of the Property or to the :�= �' ��
<br /> sums secured by this Secudty Instrumen�whether or not then due. ���'�;'�^'"'
<br /> ' Unless Lender and Borrower otherwlse agree m writing, any application of proceeds to princlpal shall not exte�d or 'y:., i'�:•''�r __
<br /> postpone the due date of the monlhy payments reteoed to(n paragraphs 1 and 2 or change the amount of such payments. �� �x�;+=--_'
<br /> 11. 6orrowar No! Released; Farbearance By Lender Nat a Waiver.Exlension of the Ume tor payment or '��;'.�s=��- -
<br /> ' modiflcatian of emottlzallon of the sums secured by this Security Instrument granted by Lender to any successor In Intetesi nt *��-='-"" .-
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<br /> � 8orrower shalt not operate to retease tfie liabiliry of the odglnal Borrower or BoROwer's successors In Interest Lender shall nvt �`��ry-=
<br /> be requlred to commence proceedngs against any succeasor ln fnterest or refuse to extend Ume for payment or otherwlse _
<br /> modify amortlzaUon o1 the sums secured by this Security InsUument by�eason of any demand made by the odglnal Borrower or �w„�- _. ";._
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<br /> 8ortower's successors In interest. My forbearance by Lendet in exerctsing any rlght or remedy shall not be a weiver ot or .'fY•_��...
<br />_.. � preclude the exerclse of any dght or remedy. �� - '��� '
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<br /> � _ 12. Successars and Asslgns Bound; Joint aas� severai uabiiiiy; �o-signe:s.�'�e Wyr�����a��� . - '—
<br /> . a�eements ot thls 3ecudty InsUument shatl bind and benefrt the successors and asslgns of Lender and Borrower,subJect to the
<br /> provlslons of paragraph 17. Bonower's eovenants and agreements shall be joint and several. Any Borrower who co-slgns ihts • ' �-�P.�'�'�''°
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<br /> � Securlty I�sWment but does not execute the Note: (a) is caslgning this Secutiry InsUUment only to mortgage,grant and convey � . - �'"�
<br /> that Bortower's interest In the Property under the tetms ot thls Security Instrument; (b) is not personally obllgated to pay the --
<br /> sums secured by thls Secudry Inatrument; end (c)agrees that Lender and any other Bonower may agree to extend, modity. • �.
<br /> ' forbear or make any accommodaUons wRh regard to the tertns of this Securlty Instrument or the Note without 2hat Bonower's f���,;
<br />� � consent. � � ��
<br /> 13. Loan Ch8fge9. If the loan secured by thls Secudty Instrument Is subJeCt to a �aw which sets max(mum loan � , • �,.;
<br /> charges, and that law Is flnalty interpreted so thet the lnterest o►other loan charges collected o►to be cotlected in connection �
<br /> wlth the foan exceed the permltted Ilmtts,then: (a) any such loan charge shall be reduced by the amount necossary to reduce . . n-.;
<br /> the charge to the pertnitted limit: end (b) any sums already collected from Borrower which exceeded pertnitted Ilmits will be
<br /> refunded to Bortower. Lender may choose to make this refund by reducing the princfpal owed under the Note or by making a —
<br /> . direct payment to Borrower. I1 a retund reduces pdndpat, the reductfon wfll be treated as a paNal prepayment wfthout any . r--=
<br /> prepayment charge under the Note. • ____
<br /> • 14. N021C0s.My noUce So Bortower provlded for In tfiis Securlty Instrument shall be qlven by detivering It or by maiting it
<br /> by tlrst etass mail unless applicable law requires use of another method. The noUce shall be dirocted to the Property Address � '
<br /> . _ or any other address Bonower deslgnates by notice to Lender. Any notice to Lender shall be given by first class mail to i
<br /> Lender's address stated herein or any other address Lender designates by noUce to$orrower. Any notice provided for in this _
<br /> Security InsWment shall be deemed to have been given to Borrower or Lender when given as provided in this paragreph.
<br /> 15. Gover�ing Law; Severabllity. This Secudty Instrument shall be govemed by federel law and the law ot the
<br /> Jurisdic[ton in wfilch the Properry is loceted. In the evenl that am� provision or clause of this Security Instrument or the Note . �'� �
<br /> conOlcts with appliceble law, such confllct shall not attect other provisions ot thls Security Instrument or the Note which can be
<br /> glven eHect without the contlicting pravision. To this end the provisions o1 this Securlry Instrument and the Note are deGared to .
<br /> be saverable. . ,
<br /> 16. BorrowePs Copy. Borrower shall be given one contortned copy of the Note and of this Security Instrument.
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