HomeMy WebLinkAbout0975 lf I cn~ier rryuired m~~rtg;ige insuranre as a condiuun of making the luan ~e~ured b~~ this Secunt~• Instrumrnt,
B~~rru~~rr .hal! pa~ thr ~rrmiutn, reywrcd lu maintain the in,uran~e in rffert untit such time a+ th: rcyuirrrnrnt fur thr
intiuran~~ tern~in.l~~~ 1(i :+«<~rdattce w ith f3arroti~rr's and 1_endrr's u rilten agrccment ur aJ~plirable law.
8. Inspeetion. Lrncier or its agrnt may make rra,o~»ble rntric~ uExm and in,prctic~ns e~f 1hr Property. Len~er
>h:ill gi~ r[3orru~~ rr nutire ~t the time ~f or prior to an inspe ction s~xv;if~ ing reasus~ablc cause for the inspc~tiun.
CU(lUl'(i1ll:lilU~i. i ii2 }T~i~CCCiii iii aits ii~~a u i:i ~iui^i Q~,':.^.:1'.~.°.ti, ~irw•f nr ._„~~„_,~,,,•r,i;:aL in ronnrctiun «ith
an~• r~~~?~iemnati~m ar ~~thrr taking of an~• part of the 1'ruprrt}•, or for re~ncr}arice in lieu of condem~~ati~>r~, are herrb~
.i~tiigned and.h.ill hc ~aid t~~ Let3der.
ln ~he e~ent ~~f a total taking ~~f the f'ropert~~, the pnxeecis tihall he applied t~~ the sums se~ureci b~• this Security
ln,trument, hether c~r not then due, ~+ith an}~ e~cess paid to Borruwrr. In the e~ent of a partial taking of the Yro~rt},
unlr~s Burro~~er and [.ender utherw~ise agree in wrihng, the sums Sc~ured by this Sc~urit}• Instrun~ent shai! be redured by
the amount ~~f the ~r~~rds multiplieii b~~ the fi~llo~~i~ig fraction: (a) the total amount of the sums secured immediatel}
txf~}rc thr taRing, di~ ~~ied b} (b) the t;eir markrt ~alue vf the Propert~~ immediately t~fore the taking. Any bal~nre thall be
p:~id tt~ t3arr~~i?er.
If the Yrupert~ is ,~band~~ned by I3orru~~er, or it~, after notice by LenJer to Borrow~er that the rondemnor ~~ffers to
m.ike .in aH ard ur settle a claim for damages, Borrower fails to res~nd to Lender w~ithin ?0 da}~s aRer the date the notice is
gi~ en. [.ender is authorized to cottect and appl~~ the pra:eeds, at its option, ~ither i~~ restixatioR or repair of the Yr~~~rt}~ or
tu the ~um~ tiecurc~ h}~ this Serurit~• lnstrument, w•hether or nat then due.
Unliss Lrndu and Borrower other~~ise agree in w•riting, an~~ appliration oi~prcx-eeds to principal shall not extend or
~x~stFK~ne the due date of the monthl}' pa}~ments referred to in paragraphs I and 2 or change the :~mount of such paymrnts.
- r,._L,..,_~~rr u~. r,,.,ao. a,*~~ 0 4i'~ivQr, F~~r~~,cinn ~if the eime for ~ayment or
lv. uu~~unr~ ..va '~"'.cito~i:u, : u::;..::....~., _
modificatiott of amortization of the sums sc,~cured b}~ this Se:.urity Instrument granted b~~ Lender to an}~ surcessor in
interest of Borrou~er shall not o~rate to release the liability of the original Borrow•er or BorroH~er's successun in interest.
Lender shal! not tx required to commence proceedings against an~• sucress~~r in interc~t or refuse to extend time for
pa~~ment or oiherH~ise modify amortizatien of the sums secured b}• this S.°curit~~ Instrument b}~ rea,on of an}~ demand made
h~ thr uriginal Borrower or Borrow•er's successors in interest. Any forbearance b~~ Lender in exercising an~ right or remedy
tihall not oe a w~ai~~er ofor preclude the exercise af any right or remeciy.
I1. Successors and Assigas BouRd; Joint and Several Liability; Co-signers. The co~~enants and agreements of
this Securita~ Instrument shall bind and benefit the successors and assigns of Lender and E3orrow~er, subject to the pro?isions
of paragraph 17. Borrow~er's ca~~enants and agreements shall be joint and several. An}• Borcow~er w~ho co-signs this Seeurit}~
In~trun~ent hut dc~s not esecute the Note: (a) is co-signing this Security [nstrument onl}• to mortgage, grant and can~e}
that E3orro~ti~er'ti interest in the Propert~~ under the terms of this Security~ Instrument; (b) is not ~ rtionall~ obl~gated to pa~•
the sums secured b} this Security Instrum~nt; and (c) agrees that Lender and an~~ other E3orrow•er ma~~ agree to extend,
me~dif}, fe~rbear or make an~~ acrommodations w~ith regard to the terms of this Security~ [nstrument or the Note without
that Borr~w~er's ccrosent. • ~
12. I.oan CharRes. If the loan tiecured t~~ this Securit~~ Instrument is subiert to a law ~~•hich sets maximum tcjan
rharge~, and that IaH~ is hnali}• interpreted so that the interest or other loan charges collected or to t~ collerted in
ronnrrticm «•ith the le~an exceed the permitted limitti, then: (a) any such loan rharge shall tk reduced b} the amount
' necestiar}~ t~~ rcdure the charge to the permitted limit; and (b) any sums already~ cullected from Borrower wh~ch etceeded
~ermitted limits will be refunded t~~ Borrow•er. Lender ma~~ choose to make this refund b~~ reducing the principal o~ed
under the tiote ~~r b} making a direct pa}~ment to SorroH~er. (f a ref~ind redures principal, the reduction w~ill br tr~ated as a
partial prep:~~~ment ~~ithout an~• prepa~~ment rharge under th~ Note.
13. I.e~is~ation Affecting I.ender's Rights. I; enartment or espuation ~f a~~licable la~is has the efiert of i
rendering an}~ pro~ isi~n of the Note or this Securit~ Instrument unent"c~rceable arr~~rding tc~ itti terms, Lender, at its ~~ticm, '
ma~ re:~uire immediatr pa}ment in full e~f all tiums ~ecured b} thiti Securit} In~trumrnt ar.d ?na~ imc~ke an~• remrdi~`
~ermitt~d b} ~aragrs}~h 19. !t~ l.endcr e!cerr~~es this option, Lendrr tihall take the ~lrpti ~~e~ifird in the ~er:md paragr~ph «f
~aragraph 1?.
14. \otices. Am n~tice t« Hc~rmuer pm~ ided frir in this Serunt}~ Instrument ,h~ll be gicen b} del~~ering it cir h}
n~ailin~ it hy tirtit rla,~ m.?ii unles~ ap~lirable la~c reyu~re~ u~e cii an~~ther meth~~d. Thr ne~tirr shall he directed t~, the
PmPert~ Addre,s c~r am• other addretiti Borrow~er dr~ignates h~ r,c~ti~r te~ Lender. An~ m~tic~ t~~ Lender,~all be gi~en M
tint cta~~ mail t~, Lender'ti adds«ti ~tated herein <,r an}~ c~ther addre,~ l.ender de~ienate~ E~~ nc~tice t~~ RnrroHer. Ari} n~~tic~
(~f1~~1~I~(~ fc~f IR IFII~ St'~U~II~" IT1tii~URltflt 1h111 hC (1C'C'R1CU I(1 Il:l\C f1CCI1 KI~C11 il7 iiiij iii~iti i~i i.i'iivt~ ::'tit:7 nrn~ ir~.~~~
E,~.~.....
in thi~ paragraph.
15. Go~erninQ I.aw; Se~erabilit}~. Thi~ Securi~~ In,trumcnt >hsll h~ e~n~rne~J h~ federal la~~ and th~ la~+ c~f thc
~un~dirti~m in ~chi~h thr Prupert} ~ti lo~3ted. In the e~ent that an~ pm~i,ion c~r clau,e i~f thiti Se~urit~ Imtrumcnt ur the
\e~te c~mflictti with aF plirahle la~~, tiuch conflt~t shall nc~t affect other pm~itiion> oP thi~ Secunt~ Imt:ument ~ir the '`~~[r
~~hi~h ran hc gi«n efi'ett w~thc~ut the cunflirting proci~ion. Tc, this end the prc~ci~ic~n, e~! thi, Securiiti In~trumrr~i and the
\~~te.ir~ cie~l,irecl i:~ hc ~<cerahl~.
]6. BorroKer's Cop~~. Bc~rr~~~ser ~hall hr gi:en e,ne ~emti~rmr~l c~~~~ ~~F the '.\ute and uf th~~ Srrurit~ Imtrumrnt.
17. Transfer nf the Yropert} or a Beneficial Interest in Horrower. lf all ur .in~ ~art the Prupert~ c,r ~~n~
ii}t~r~.t in it i~ ~~~ld c~r tr~in~ferred (nr if a benefi~ial inter~~t in [3c~rrc~~~er i~ ti~~ld ~~r tran,frrred und B~~rr<i~~er n~,; a natur,ii
~rr;~~~i! «ith~~ut Lender'. ~rie~r ~~ritten ccm~rnt, Lender ma~, at ih ei~ti~~n. rryutre imrnrdiatr ~a}rr~~nt in ful! c~f all ~umti
,~~ured h~ ;hi. Se~urit~ Intitrumert. I[ence~er. thit ~~~ti~ir? .hal! n~~l hr cx~r~i~rel h~ Ler,cfer if ererri~e i~ ~ruhibit~d h.
f~~1c~~:~! la~~ <i. !hr date nf Ihi~ Seciirit~ In.trument. -
I1 [.rndrr ;~.er~~~e. thi~ ~~~+=icm. I.rnder tihall gi<< Be~rrc,«er n~~nce ~~f a~~r!rrau~,n l hr n~>ti~r ~hal1 ~r;,~;dr a~+ent,u
~~t r~~t I~„ th:in ;i; c;.i~~ frc~m thc date the ni~ti~e i~ deli~ereel c~r mailed «~thin which I3(1fC11\l~f i1:Utit (la~ ail ~umti,ecurrd h~
rh!. 5~,urit~ In~trument. [f Rurr~~~~~r failti tc, ~a~ the,e ~ums J~ric~r t~, ;~<«~iratic,r~ c~; thtti Pen~~d. I.rnelcr m~et ir~tii~ke an~
rrme~li~` ~~rmitt~c~ h~ fhi~ Se~unt} In~trument «ith<~ut further r~nti~c ~~r ~1~m~ne1 ~m B~~rr~~~srr_ -
IS. Rorrower's RiQht to Reinstate. If f3c~rr~~.~er meet` rertain ~c~ricliti~m~, F3~~rrr~~er ~h.ill ha~r the n~ht t~~ h.?~e
~ntc~r~~mrnt ~~t thi~ Sc~~int~ In~trument di.~~~r.tinurd at :in~ timc ~ric~r tc~ th~ c~rlier c~f (a) ~ d~~~ I~~r `urh ~~ther rericid a.
aj~~G~ahlr ;a~~ ma~ ,~~:if~ fnr r~~mtatrment) hrii,re ~al~ t~f th~ Pr~~~ert~ ~urtiuant t~~ an} ~~~~cer ~~(~ale ce~ni~ined in thi,
S.tunt~ In~trtim~nt: ~~r ~h) entr~ nf a ~ucl~~mtsit ~nf~~r~tne thi~ Se~unt~ In~trumcnt. ~~h<~~~ ~e~nciiti~mti arr that B<~rri»tier:
(ai ~a~~ i.~ndrr ail ~um~ uh~~h th~n ~cc~uld hc cJur undrr thi~ Seruril~ !r~`trum~nt an~1 the \~~te had ric~ a~rcleratic~n
u«iirrrei: (h~ ~iarc•. :m~ dcl;~wt ~~~f ar~~ ~~tt~er ~inen.+nt. ~~r a~reement~: (c) Ta~~~ all .i~~nu~ incurred in enf~~rcink thi~
Se~un~~ In.trum~~:t. :nrli:~l~n~. hut n:~; liri~it~~l t~~. rea~c~nahle att~~rnc~,' fee~; and (d? tak~~ tiurh ~trtic~n a~ Lender ?na~
;~,i,un~hl~ r~yuir~ t:~ a.,urr th,+t th; li~ri ~~f tht. S«unt~ ln~trurient, Ixndcr'~ n~htti tn the F'r~~~xrt~ and Rnrr~,wer'~
~,h1iL:t~~~~n t~~ t1:r •urn~ ~,~u;.c1 h~ thi~ Se.unh (ntitrument ~hal! r~,riiinue tn,~hang~d. l~~<~ri rrin~tatenter~t h~
R~~rr~,«~r. ti,~: ~ir~t~ Ir,tr:ir,i:nt ,ir,d t~i< <,hl~cartnrn ~e.ur~d hereh} sh~tll r~ntain fiilh ~fTr~t~~e a~ tf nn ac~~ler?ti~;n fSad
~~~~~irr~cl f 1;~~~~•<<°r. th~, r~~ht t~~ rcit~,t:atr ~hal! n~,t .:~~1~ in the ~~i~~ ~,fac~elerciti~~n under j~,ircigraPh~ 1? c~r l~.
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