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<br /> . . 97-�.�,2��: � � �� ., . z,:_.
<br /> ` 7'. Prot�c�ton o4 Lereder's Rights in the Pro�erty. It Borrowar fa7s to pertorm the covenants and agceements conta;ned�► � • ,,. •;_
<br /> this Security InsWment, or there is a legal proceadmg that m�sy significanUy aflect Lenders rtghts in the Property (sueh as a proceed+ng in , "
<br /> b��►+P�Y>Drobate.far condemnaHon or forfsiwre or to enioree Iaws or regulations),then Landsr rnay do and Pay for arhatever ks necessary , �
<br /> ' to protect Me vshie ot the Proparty and Lende�s rights In the Property. Lenders acGons may inc(ude paye�g any sums saCU2d by a('isr�
<br /> which has priordy ovar tRis Security instrument, appaarhg n couR,paying reasonabie attomeys fees and entsrhg on the PropaRyr to make � ' �t�'
<br /> � repairs. AfthougA Lender may take ectton under th(s patagraph 7,Lendsr does not have to do so.
<br /> . ' My amounts dtsbursed by Lertdsr under this psr2greph 7 shall become add�tionat dsbt of Bortovrsr secursd by this S�utty Instrumant `
<br /> Unless Boaow6r end Lender egre9 to other terms of payment,these amounts ShaU bear interest from the date of dtsbursement at the Nate �
<br /> ' . rate and shail be payabfe,wRh hteres�upon r.oUce irom Lender to Borrower requesttng payment . =
<br /> 8. iYIOfQ$IIQC Insurance. If Lendsr tequired moRggge insurance as a condtion of making the loan secured by this Securfty •
<br /> Insvument, Borrowar shall pay the premiums requeed to mabitatn the mortgaga insurance Fn efiECt. If,for any reason,tho mortgaga insuranee •
<br /> , coverage required by Lender tepses or ceasas to be in effec� Borrower shall pay tha premiums required to obtain coverage substantialty .
<br /> equivaient to the moRgF►ge insurance previousy in ef(ect,at a cost substantlatty equivalent to the cost to Bortowor of the mortgags�surstnce
<br /> � previously in eNect. (rom an aftemate mortgage insurer approved by Lender. If subsKentiaity equivalent mar4gage msurance coverage ts not � _
<br /> avaftabie. Bortower shall pay to l.ender eacfi month a sum equal to on�twelfth o!the yearly mortgage fnsurance premium bein8 P� bY �
<br /> Bortower vrhen the insurance covaraga lapsed or cBased to be in ettect. Lender wi� accepL use end retain thsss payments as a bss � . '
<br /> reserve in Geu of mortpage insurance. Loss resenre payments may no tongar be required, at the option of Lendat, d mortpage insurance G, �
<br /> coverage(�ths amount and for the period thai lendar req�ires)provtded by an tnsurer approved by Lendar agaln becom3s available and fs � � � � .. ,
<br /> obtainsd. Borrower shal! pay the premiums requ4ed to mai�tah mortgage insurance ln eftect, or to prov(de a bss rese�ve. unt7 tho � �
<br /> requ(rement for mortpage�nsurance ends �accordance with any wvrt'tten agreameet betwsen 8orcowsr and Lender or appdcabia law. � ' .
<br /> 9. It18Ef@Ct10�. Lender or its agent may meke raasonebte entrfes upon an� inspections ot ths Pmperty. Lender shall Gre Borrowsr � _ _ � -
<br /> notice at the Ume ot or prior to en fnspectton specEy�y!easonable cause for ffie inspection. , :
<br /> 10. Conderrmat;an. The pruceeds of eny award or cisim for damages, d�ect or consequenttal, in connectbn wRh any j ' � •
<br /> condemnatkn or oMer ffik�g of any part of the Property, or for convayence in fiau af condemnation,are hereby essigned end she(i be paid } � '�`� ;,; '
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<br /> to LendBr. F , r �
<br /> In Me event of a total takinp of the Property,the praceeds shan Be appiled to the sums secured by this Securt'ty InsUUrrcenL whsther or � - � • � ' � ' _
<br />' not then due,w�h any excess patd to Borrower.In the event of a parttal mkinp of the Property in whfcA the taY market valua of the PropeRy � . ; - • �:�-�. °
<br /> Qnmediatety before the ffikhg is equ81 to or greater than the emount of the sums secured by this Securfty Insbument immediet9ly betare the ' , �: �4�
<br /> i tak�g,uniess Bortower and Lender otherwise a�ee in writhg.the sums sscured by thfs&ecurfty Instrument shali be reduced by the amount ' . ' :�.:.
<br /> j of the proceeQs mutdpiied by the fodowinp imction:(e)Uro to+al amount the ot sums socured trnmedtatey before the takhp,divided by(b)the .--•i , •�'i t '
<br /> fair matket value of the Property tnmediamy betore the talcin9. My ba[ance shail be peid to Botrower.In the event of a partbi takinp o!the . ���
<br /> : PropeRy in which the(afr mprket vatua of the Property Ynmediatey before the tak(np is less ffian the amount of the sums secured inmedietery �--. �/%; _
<br /> belore the takhp,untess Borrower end Lendar otAerwise aQree b wrftiny or untess app9cable law othawls0 proviQes,ths pmceeds shall be •
<br /> . appllad to the sums secured by this SeCUr�ty Inst�ument wAether or not the sums 8re then due. � : -!�'� "
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<br /> If the Property Is abandoned by Borrower. ar U,after notk:e by Lender to Borrower that the condemnor affers to make an avrard or settte .
<br /> a cta6n for demapes,Borrowet ia(ts to respond to lender w�hin 30 days aftet the date the notice is given,tender is authorized to co'dect end �. : '� '''�� ��
<br /> appiy the proceeds,at Bs opUon, either to restorallon or repah of the Proparty or to the sums secured by thts Securdy Instrument, whether . • ` , �i
<br /> - or not then due. . � � ° ��.�,�f
<br /> Untess Lender and Borrower otherwtse aQree in writing, eny appllcatton of proceeds to pnc��pai shall not mRend or postpone the due � '. �
<br /> dafe o}the monthly payments reterred to in parsp�ephs 1 and 2 or change the emount ot such payments. . .�' '��',•�'�.��
<br /> � 99. Borrower Plat Relesse�: Forbeara�ce By Lender Not a Waiver. Extension of the Hrne for paymei►t or modificatton • '�• • # -
<br /> of emortizatbn ot the sums secured by thts Securdy Insuument granted by Lender to any successar In bterest of Borrowar shall not operate � � � ;1�
<br /> to retease the Itabl�y of the oriya�al Bortower or Borrower's successors fn interesK. Lender shail not bo requted to commence proceedhgs _._..._..'��'�� -
<br /> agahst any successor b interest or refuse to extena t(me tor payment or otherwtse modiry amortl�tbn ot the sums sscured by Ynts Security ��_+g� ''� .
<br /> �. Instrument by reason of any demand maQe by the orginai Borrowar or Borrowers successors in Interes�t. Any torbearanca by Lender tn � `'� f
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<br /> exercishg tu►y rfpht or remedy sha0 nol be a walver of or preciude the�cercise of any ripht or remedy. �� �'�,.-
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<br /> 12. Succesaor� and Aaalgns Bound; Joint and Several Ltablliry; CO-s[gtlCts. The covenants and apreements af � � .�� 5 ��
<br /> ' ' thLs Securnyr InsCUment shall bind ond benefR tha succecsors and essigns of Leoder and Bortawer, subjset to the provfsbns of paraprepA �'
<br /> 17. Borrower's Covenant8 8nd a y r e 6 m e nffi sh80 be joint and ssveral. My Borrower wfio co-siyns thts Securiry Instrumeni but does nat � � - : -.�••'�'�'
<br /> ! ezecute the Nafe:(a)t5 cosipninp Mis Security Instrument ony to mort�aQe,yrant,and convey that Bortowers hterest in the Property under , ' i°
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<br /> :� the tertns of this SecurRyr Instrument;(b)fs no2 personatry ob[t�ated to pay the sums secured by this Security Insuument and(c)aQrees that
<br /> Lendor and�u►y other Bortower may ayree to mdand,modNy, torbear or make any accommodaUons wftA reperd to terms ot thts Secufity _
<br /> Instrument or Me Note without that Borrowers consent. � �.'����-
<br /> ,-� 13. �..0l.:'J �hrS�'�°9. !t ttfr !:�?n s�tt�±�by Lhls�wity lnstrument IS sub�!to s IS:Y�h�h sets rtw_ximum b8n chnrQes,end that ___ _.�:,�
<br /> law Is fialy hterpreted so Mat the hterest or other ban charyes collected or to ba coliected h connectbn with the ioan exceed the , .
<br /> permitted ifrnRe.then; (a)eny such toan charges shall 6e reduced by the amount necessary to reduce the charpe to the parmltted IimB;and ' �"�
<br /> � (b) eny sums aYeady Cotlected from Borrower whbh �caeded permitted limits wID be refunded to Bortower. Lender may Choose to make ,
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<br /> this refund by reducinp the prticfpal owed under the Not� or by makbp a dYec! payment to Bonower. If a refund reduces pnc�ipal, tho � . '. .
<br /> reductbn wAi be Veated as a paRial prepaymeret wRhout eny prepayment chArpe undat the Note. � �
<br /> 1�. NOUCOS. My notbe to Bonower provided for in this Security Instrumant shall be glver+ by deliverinp R or by mail�p ft by flrst '
<br /> j ctQSS mall unlass ayplicabte law requlres use of another method. The nolica shatl be d�ected to tho PropeRy A�dresa or any other addwss � . `
<br /> j Borrower destgn�tes by notbe to Lender.My notice to Lender shaH be glven by fYst ctesti maU to Lenders address stated herein or eny
<br /> other addness Lender desipnate9 by notfce to Borrower. My notice provided(o►in this Securityr InsWment shall be Qaemed to have been � �
<br /> piven to 8orrower or Lender when qiven a9 provided in this psra�naph. . � . � .
<br /> 18. Governircg Lnw; Severabllit�. This SeCUlity Instrument shsfl be govemed by fedele! lew end the (flw ot the JurlSdieUon b .
<br /> jwhicfi the Property is bcated. In the event that any provisbn or clause of this Security Instrument or the Note contlicts wkh eppNCabla law, " , � •
<br /> � suCh conflict chett not aftect other provisbns ot this Securityr insWment or the Note which ean be given eftect without the confl4cthp . `-
<br /> provision. To this end the provisbns ot this Securnyr Instrument an0 tAe Note are deelared to be sevarable. � ,
<br /> 16. Borrower'a Copy.Bortowe►shail be piven one conlormed copy of the Note and o1 this Security InsUUment. _
<br /> � 17.Ttensfe► oi the Property or a Beneflcinl Interea3 in Barrower. 14 flll ot any part o}the PropeAy or any htarest�n ,
<br /> I tt is sold or transferred (or If e bertafbiel hterest h 8ortower is sold or uansferred end Bortower Is rtot a natural person) w�hout Lenders E ' •
<br /> � prlor written consent, Lertder may, at Rs option,require Ynmedtatd payment tn (utl o!all sums secured by this Security Instrumen� However,
<br /> this optton shnll not be exerctsed by I.ender N�cercLse b proh�Red by tederel law es of the date ot this Securiry Instn,ment. i
<br /> . ; II Lender exerclses this optlon, Lender shali pive Bortower notico of acceleration.The not�e shall provldo a perlod o! not tess than 30 �
<br /> � days from the Aate the noNce is detivered or meiled wkhin wh�h tAe Borrower must Qay all sums secured by this Security Insbument. I} i .
<br /> � Bortower taiPs to pay these Sums prbr to th9 exptetion of this pedod,Lender mny imroke any remadies permitted by thi�Sscurityr Instrumsnt •
<br /> without turther notbe or demand on Bortower. •
<br /> Form 907D 0/GD . � .
<br /> F4009.LM0(t0/88) Pip�3 01 S �
<br /> �82
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