|
, . . . . . . .. .. • . C ' � � '� . ' ' -;a' .
<br /> . . . � . . . . � . .. , . - r • . . ., `�i..
<br /> i r` .. ,
<br /> 4- � . .---- ,---
<br /> • Borrower may cure such a detautt and reinstate. as provided in paragruph 18, by caustng the action or proceedng to be . , ; . • �
<br /> � dismissed with a ruling that, in Lender s good faRh detertnmation, precludes forfeiture of the Borrower's interest in the Property or � . , .
<br /> � other matenai impairment of the Iien created by this Secunty InsVument or Lenders security interest. Bortower shall also ba�n ; . :
<br /> detault if Bortower. dunng the loan application process. gave matena!ly fa�se or maccurate mformaUon or statements to Lender(or � . ` �.
<br /> faded to prov�de Lender w3h eny matenal �ntormation) in connect�on �vdh the Ioan enaenced by the Note, including. Dut not�
<br /> fimiied to. r�presentaUOns conceming Borrower s occupancy ot the Property as a pnns�pai residence. 1f th�s Securrty . ,
<br /> InsVument is on a Isasehold. Borrower shail compty with ait the provisions of the lease. If Borrower acquires fee title to the� _
<br /> Property. the leasehoid and the fee tiUe shaU not mer�e un4ess Lender agrees to the merger in wrRing. . ;
<br /> 7. ProteCtion ts4 Lender's RigFifs ite the Propetty. It 8ortower tails to perfortn the covenants and agreements� , _
<br /> conteined �n this Security Instrument, or there is a legal praceeding that may significanty affect Lender's nghts m the f'roperty Q
<br /> � (such as a proceeding In banlwptcy. probate, for condemnaUon or foAe�ture or to enforce taws or regulations). then Lender may : . _
<br /> � do and pay for whatever is necessary to protect the value ot the Praperty and Lender's rights in the Property. Lender's acUons� � .
<br /> may indude paying any sums secured by a lien which has pnority over this Securiry Instrument appeanng fn court. pay�ng� , ,,
<br /> '� reasanabte attomeys� fees ar�d enterin9 un the PropeRy to malce repaus. Although Lender may take action under this paragraph� � _ _
<br /> � 7. Lender does not have to do so. � • - .
<br /> ; Any amounts disbursed by Lender under paragraph 7 shall become additional debt of BoROwer secured by thi.s Seauityr
<br /> ; Instrument Unless BoROwer and Lende� agree to other tertns ot paymen� these amounts shall bear interest from the date of , ��
<br />� _ , disbursemerrt at the Note rate artd shall 6e payable.with interest.upon notice from Lender to 8orrower requesting paymerrt.
<br /> ; 8. Mottgage Insur'dtlCe. If Lender requ'ved mortgage insurance as a condition ot making the laan secured by this
<br /> Securfty Instrumen� Borrower shall pay the premiums required to maintain the mortgage insurance in effect. N,tor any reason,the
<br /> mortgage insurance coverage required by Lender �apses or ceases to be In effecL Bortower shall pay the premiums required to
<br /> ' � obtafn coverage substanUalry equivatent to the mottgage insurance previousty in effect.at a cost substantialty equivatent to the ' T
<br /> • � cost to Borrower of the martgage insurance previousty in effect. trom an attemate mortgage insurer approved by Lender. If _ '"i_,
<br /> t
<br /> substantially equtvalent mortgage insurance coverage is not available, 8orrower shall pay to Lender each month a sum equat to � . '•-...,-,F
<br /> on�twelfth of the yearly mortgage i�surance premium bemg paid by Borrower when the insu.—�-.ce coverage lapsed or ceased to ;A.j,*,:;v_,_
<br /> , ,� be in effect Lender will accept use and retaln these payments as a loss reserve in Geu of moRgaga insurance. Lnss reserve .. �-_
<br /> payments may no longer be required, at the option of Lender. if mortgage insurance coverage tin the amount and tor the period s
<br /> � that Lender requires) provided by an insurer approved by Lender again becomes avadable and is obtained. Bortower shall pay - . .w,�;
<br /> the prem(ums required to maintain mortgage insurance in eftect, or to provide a loss reserve, until the requirement for mortgage ;;,3=-
<br /> (nsyrance ends in ascordance with any written agreement between Barrowrr and Lender or applicable law. •:�t'° ._
<br /> � 9. Inspection. Lender or its agent may make reasonabte entries upon and inspectlons of the Praperly. Lender shalt give � ' -�--_r+���'.'
<br /> 8ortower noUce at the Ume of or prior to an inspection specitying reasonab�cause for the inspection. . '�,�,,� _
<br /> 10. Condemnation.The proceeds ot any award or claim for damages. direct or conseRuenUat, in eonnection wilh any ,,��;
<br />. condemnation or other teldng of any part of the ProPerty. or for conveyance in lieu of condemnaUon. are hereby assigned end : ,�
<br /> sha11 be paid to Lender. r.�'`��� �'"
<br /> �n the event of a total tafdng of the Property, the proceeds shall be applied to the sums secured by this Securdy T u�L.,_
<br /> Inatrumen�whether or not then due.with any excess paid to Borrower. In the event of a partial taking of the P►opeAy in which
<br /> .� � �; �
<br /> tAe falr macket velue of the Praperty immediatety before the taking is equal to or greater than the emount of the sums secured j•
<br /> by thls Security InsWment immedlately before the taWng. unless Bortower and Lender otherwise agree in writlng, the sums _ . � `;:;.
<br /> ' secured by ihls Sewriry Instrument shall be reduced by the amount of the proceeds multipfEed by the fotlovring fracUon: (a)the 1 -
<br /> ' total emount of the sums sewred immediatety before the taldng,divlded 6y (b)the falr merket value of the Piroperty(mmediately , ,.i�� ;
<br /> ': before the taking.Any batance shall be paid to Bortower.In the event of a parUal teldng of the Property In whtch the tait market ��--�
<br /> value of the Property Immediately before the taldng Is less than the amount of the sums secured lmmedatelyr before the taMng, •� . �!.
<br /> � unless Borrower and Lender othetwlse agree in writing or unless app l i c a bte law othetwise provldes. the proceeds shell be . � "z��,'
<br /> _�`+Y, L
<br /> �= applied to the sums secured by th(s Security tnstrument whether or not the sums are then due.
<br /> - �` If the Property is a4andoned by Borrower, or ii, after noUce by Lender to Bortower that ffie condemnor otfera to maRe an e�;:;�. � 3. �=.
<br /> " award or settle a daim tor Jan�ages. BoROwer fails to respond to LendEt vrithtn 30 days after the date the notfce is given. °"�� � '
<br /> Lender Is author�ed to collect and appty the proceeds,at its opUon, either to restoratlon or repair of tha Property or to the x�:
<br /> sums secured by this Secudty Instrument,whether or not then due. , • �
<br /> UNess Lender and Bortower oiherwise agree in wr(Ung, any applicaUon of proceeds to pdncipal shall not extend or • - •��'�
<br /> ents. '- '��:
<br /> postpone the due date o1 Lhe monthty payments referted to in paragraphs 1 and 2 or change the amount of such paym �:Y--s�
<br /> 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extenston of the time for payment or . �� ..�,.,�,, -
<br /> • modiflcaUon of emoNzaUan of the sums secured by this Sec�rtty Instrument granted by Lender to any successor In Interest of
<br /> Borrower shall not ope�ate to r�lease the IIabIGty of the odg(nal Bortower or BoROwers successors In interest. Lender shatl not . ,:�'�'
<br /> , be requlred to commence proceedings agalnst any successor in interest or retuse to extend Ume for payment or othenvlse �'`�`,°�
<br /> � i.
<br /> � modity amoRlzaUon of the sums secured by this Security Instrument by r�son of any demand made by the odpinel Borrower or _,;._ . :�:.:.-�-.:
<br /> . �`°, .
<br /> • ' Bor►ower's successora In Intereat. Any torbearance by Le�der in exercising any dght or remedy shall not be e wa[ver o1 or �
<br /> '� predude the exerclse of any dght or remedy. � ��'�
<br /> � 12. Successors and Assig�s Bound; Jolnt and Several UabSlilSp; Co-sig�ers. Tne covenants and :Sw� . .
<br />. � a�eements of th(s Secudty InaUumenl shall bind a-rd hatiztii 2:�a successors and asslgns o!Lender and Borrower,subJect to the _ =_��
<br /> • provlslons of paragraph 17. Bortaver s covenants and agreaments shall be Joint and several. My Bonower who co-slgns this • `""`:.
<br /> Secudty Instrument but does not execute the Note: (a)is co-signing this Securily InsVument onty to mortgage.grant and convey �;�
<br /> that Bortower's Interest in the Property under the tertns of this Secudty Instrument; (b) is not personaly obUgeted to pay the
<br /> sums sewred by this Security Instrume�t; and (c) agrees that Lender and any other Bortower may agree to extend,modity. "
<br /> - torbear or make any accommodations with regerd to the tertns of thls Security InsUument or the Note wfthout lhat BoROwer's , .
<br /> consent • .
<br /> 13. LO3n Chatge9. If the toan secured by this Security tnstrument is subject to a law which sets maximum loan � • .
<br /> charges. and thai law Is flnalty interpreted so that the Interest or other loan cfiarges collected or to be coltected in connecNon ..
<br /> with the loan excezd the pertnitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduee
<br /> the chargo to the permitted Ilml� and (b) eny sums already collected from 8onower whlch exceeded pertnrited limlts will be '
<br /> re'unded to Borrower. Lender m.ay cnoose to make thls retund by reducing the pr(ndpal awed under tfie Note or by R.zSdng a
<br /> direct payment to Bortower. If a retund reduces princlpal, the reductlon will be treated as a pertlal prepayment without any
<br /> prepayment charge under the Note. �_
<br /> 14. Nolieea.Any notice to BoROwer provided tor in this Security Instrument shall be given by del'aering it or by mailing it � . :
<br /> ' „ by flrst ctass mail unless epplicable law requrces use of another method. The notice shall be direcled to the Property Address -
<br /> � or any other address Borrower designates by notice to Le�der. Any notfce to Lender shall be given by first class mail to ' _
<br /> `� Lender's address stated hereln or any other address Lender desi�ates by notice to Bonower. Any notice provlded for in this I . .
<br /> Securlty Instrument shall be deemed to have been given to Bortower or Lender when given as provlded in this paragraph. ,
<br /> � 15. �ovAlR111g LSV�i; Severa6ili4y. This 3ecurity Instrument shall he govemed by federel Iaw and the law ot the .
<br /> Judsdictlon in whieh the Property is locatesi. In the event that any provlslon or clause of this Seaurity Instrument or the Note .
<br /> conflicts with Applicable law. such contlict shall not aftecl other provisions of this 3ecurity Instrument or the Note which can be ,
<br /> given eHect without the conillcting provision.To this end lhe provisions of this Seaurity Instrument and the Note ere declared to
<br /> be severable. `
<br /> 16. BOTfOW6►'8 COpy.Bortower shall be given one confortned copy of the Note and of this Security InsUument. � .
<br /> . i `
<br /> i r
<br /> c t+i6�MG �t9h �'.'q'� + �-t '
<br /> • , ; _.
<br /> � .
<br /> gJUSy ! .
<br /> . , I _1 •
<br />.. . . . _ . . .. .. . � � :. - �'� � .. _ . � ..$'.�� . .. . � _ .
<br /> - �i�. . .. �, . .. . . - � ,' . ._�� � ' . , . . � . ., '. _ ,•. ..... . _ ,� � ..,- '' . r.. . . �.. .. `. �
<br />
|