HomeMy WebLinkAbout0916 li Lcnder rrywr~d m~~rtgage ~nsurance aa a rondition of making the loan ~erured b~ thiti Srrurit~ Instrumrnt,
13urr:~~?er ~hall ~a~ the premiums reyuired to maintain th~ in~urance in effect un~il such time a. thr reyuirement for thr
in,uranre t~rmi~~atcs in acrordan~e ~ith [3orrow~et's and Lender's w•ritten agreement or ap~licable I~ia.
8. Inspection. Lender or its agent may make reasonable entries up~n and inspectiom of the Prupert}. t.ender
~h;~ll g~~ r E3orru~~ er nutire at the time of or ~riar to an inspection specifying reasonable rause for thr inspection.
9. Condemnation. The prc~eeds ol an~~ a~~ard or claim for damages, direct ur cuntieyuential, in rrn~nection with
::n~ c~~ndemnatiun ur uther taking uf ~n} ~art uf th~ Yru~ert~, or fi~r ~on~e~anrr ~n lieu ~~f c~~ndemnatiun, are hereh~
:+»igned and shall be p.iiti tu Lender. "
In the e~rnt uf a tutal taking ~~f the Yru~ert~, the pr~kerds sh~ll he a~~lird tu the sumti secured by this Securit}'
IntitrUmrnt, ~~hrthrr ur nut then due, w•ith an~~ exress paid to tiorrower. ln the event of a partial taking of the Propert~,
unle,. f3orrc?~cer and Lend~r othen~ise agree in writing, the sums serured b} this Serurity ln~trument ~hall t~ re~iu~ed b~•
the amount ot the ~rurerc!s multiplied b~ the fi~llowing frartion: (a) the total amuunt ~~t the sums serured immediatel~
brf~~re the taking, di~ ided hy (b) the fair market ~ alue ~~f thr Ympc rty immediatel~ hefore the taking. Any bal.inre shall be
~~id to B~~rroNer.
If the Yrupert~ i~ at~andoned b~ Borrowrr, or if, after nouce h~ Lender t~~ Burr~~~~er that the condrmnc~r ofi~ers tu
make an atiard ~~r settic a ~laim for datnages, Borrow•er fails t~~ respund to Lender ittiin 30 da~ti after the date .hr ne~ticr is
gi~en, Lender is authurir.ed tn rollert and appl~• the prexerds, at its o~tiun, eithrr ti~ re~turaU~~n ur re~air of the Pro~ert~ ~~r
tu the sum~ secured b}~ thiti Serurit}• Instrument, ~~~hether or nc~t then du~.
t'nle~, Lender ~ind Borro~~er otherwise agrer in ~•riting. ~n}~ a~plication ~,~'rnk~r~is t~, ~nn~i~al ~hall not extend ur
~-~~~~t, one the dur date of the monthly payments referred to in paragraphs 1 and 2 ur ~hangr the am~~unt af ~uch pa} ments.
10. Borrow~er ~ot Released; Forbearance By I,ender tiot a~~'ai~~er. Extentiion uf the time f~~r ~.~yment ~~r
modihcati<~n of amortizatic~n of the ti~ms tiecured b~~ this Securit~ tmtrument Kranted h~ l.endrr to an~ sucres,ur in
interest of Borrc~w~er shall not orrrate to release the liability ~~f the original Barru~~er ~~r B~~rm~~er'~ ~urcr~sc~rs in interest.
Les~der shall nut hr reyuired tc~ r~mmenre prcx~eedings against an~ ,uc~r„c~r in ~ntrr~,t ~~r rr(u~r t~~ extend time fur
~a~ment or ~~then~ise m~~ciif~ amortizati~~n c~f thc sum, serureei h~ thiti Serurit~ ln~tru?nent b~ reasc~n ~~I an~~ demand made
h~ the ~~riginal B~~rro~~~r ~~r Barro~~cr's ~ucres~~~rs in interest. An~~ fe,rbearancn c~ Lrn~frr in exerc~sing an~• right ~~r remc~l}
~hall nut be a H ai~ er ~if or ~,reclude the exercise of an~ right ur remed}~.
11. Successors and AssiKns Bound; Joint and Ser-eral I.iabilit~; Co-siRners. Thr rc~~enantti and agreements c~f
thi~ Sec~rit~ Instrument tihall hind and h~neht the tiur~e~sc~rs an~l a~~igm c~f Lender and R<~rruwrr. suhje~t t<~ the pro~ itii~~ns
,,1 par~graph 17. B<~rr~~~cer', r~,ce•nant~ and .igr~ernents tihall t+e juint :~?~d ~e~cral. An~ Be~rre,~i~r wh~~ c~~-tiignti this Securit~
, [ntitru?nent hut durs n<~t e~rcute the :~~~tr: (a) iti ~~~-signing this Serurit~ ln~trument i~nl~• ti~ mortgage, grant and rot~~e~
that B~rre~~~rr's intc:r«t in Ih~ 1'r~~~rrt~ ur~lrr the terms of ti~is Serurit~ Instrument; (h) iti nc~t ~ersc~n~ll~ abligatrd t~~ pa~
the tiums serur~d h~ thi, Se~urit~ Intitrumenr. and Ir) agree, that lxnclrr an~1 an~ e~ther f3iirm~~er ma} a~ree t~~ ~~tend.
rnuc~~f}, f~~nc~~ir .ir rnakr ~~~i~ ;i~~~,mmc~ciahun, ~~•ith reg~rd t:~ thc term. ~it thi~ Sr~unt~ ln~trurnent c~r the '.\iite ~~ithi~ut
th :t B<~rm~~~r's rc~n~ent.
12. Loan CharKes. If thr I~ian ~erurrd h~ thi~ Sr~urit} lmtrum~nt »>uhjert tu a la~~ ~~hirh tirtti ma~imum Ie~an
~harg~ti. .ind that la~~ i~ tin.~ll~ inlerPreted s~~ that the intere~t or other I~~an rhargc~ cc~llectetl ~~r t~~ be colle~ted in
~:mn«tiun ~~iti; the I~~an r~cer.i th~ ~ermitte~i limit~, then: (a) an}~ su~h i~~an charge ~hall he reu«red h~ thr amc~unt
r,~_~e~tian te~ redurc thr rhargz tu the ~ermitt~d limit: and (b) an~~ tiumti alreacl}~ r~~lle~teel fre~m Be~rr~n;er Hhich e.rreeded
! ~~rrmittcd limit` ~~ill be retunded tc~ R~~rr<~~s~r. Lender ma}• chexnr t~~ make this r~fwid h} reducing thr ~rinci~al ~~~~~ed
; unJ~r the \~~te ur h~ makine a dirert ~a} mrnt t~~ B~~rr~~~~cr. If a refund reeiu.~ti ~nn~i~al, the rcdu~tic~n wil! h~ tre~ii~d a~ a
,~:trti~il ~re{~a}mtnt ~~ithi~ut anc ~re~~a}~ment ~hsrge under t}~r ti~~tr.
' 13. LeRislation .~fTeetinK [.ender's RiRhts. If enartment c>r ex~~ran~~n ~~t a(~(~li~ahlr I~~~~ ha. the e9'ect c~f
` r.nelering an} ~rc~~ itiii~n t~f the \c~te ~~r thiti Securih In~trutnrnt uttrnti~r~~.ihlr ar~~~rdint~ tc~ it~ term~, Lender, at it~ u~,ti~~n.
' ~t~.~~ rryuire immediatr F,.l\R1CilI lil full <~f all tium~ .erurr~l h~ thi~ Se~unt~ In.trument anJ ma} in~c~ke ~in~ rem~dieti
; f~errnitted h~ ~aragrarh lU. lf I_~nelrr rxerci~e, thiti ~~~h~,n. [.~nder ~ha!1 take thc ~teE,~ ~~e~ifird in th~ tircund ~arsEr.irh ~,f
F ,~.iragra~h 17.
14. \otices. Ari~ n~~ticr tu R~~rrr~~~er ~r~~~ielcd :i~r in thiti Se~urit~ Intitrum~nt ~h:ill h~ gi~en h~ ~ieli~enne it i~r h~
~ n~:iiluig it b~ firtit rlati, m~iil unl:,ti a~~lir~+hle laH reyuire, u~r nf .ir~~th~r nicthc}c~ Thc si~~ti~< ~hall h~ directrd te~ the
~ f'n~~rrt} .4~iclre~ti ~~r an~ ~~thcr a~dre~ti Re~rr~~~~~r de~iYnate~ h~ ne~ticr te~ I.ender An~ n~~tic~ t<~ Len~lrr tih.?ll br gi~en hc
~ ~ir.t ~1a~ti mail tc~ Ixnclcr'~ adclretiti.tatrd her~in ~,r an~ c~ther ~~ieire,~ L~nder ~i~,i~,nute~ h~ n~,ti~e t~, f3~~rn»~er. Am n~~ti~~
E ;,r~~~~clyd f~~r in thi~ S«ur~t~ [nti[rum~nt tihall hr ~lermed t~~ ha~e hrrn gi~rn tc~ Rurr~,~~rr ~~r Lenclrr ~~hen gi~en a, ~rcnide~l
t ~n thi, ~araer.iPh.
~ 15. Governink I.aw; Se~~erabilit~. "I-h~~ Serurit~ In,tniriicnt ~h,~ll hr gu~rrnec; h} federal la~c and thr la~~ ~~t the
5 ;~.in,~iirti~~n ~n ahi~h the Yrc~~ert~ is Icirated. [n ihe ~tient that am ~r~~~itiicm c~r clau,< <~f thi~ Serunt~ In,trumrnt ~}r tiir
~ \rtr ~~mfli,t~ ~s~th a~~lirablr l;i~~. ~u~h r~~nflirt ~hall nut affe~t e,thrr ~r~,~i~i~,n~ ~,f thi~ Se~urit~ In~trument c~r the ti~~t~
~ ~+f~~t ar. he gi~en etFect ~?ithc~ut the c~~nflirtin_~ ~r~~~i~i~;n. i~c, thi~ e~~d ~h~ ~n~~i.i~,n; uf ttti` Securit~ In~trume:nt and th~
s declar~d t<~ he tic~erable.
~ ~ lb. Borrower's Cop}~. Bi~rrc~~+~r ~hall hr g~oen ~mc rc~nle~rrnril <,f the \~,te an~1 cif thi. S~~unt~ In~trumrnt.
, 17. Transfer of the Yropert~ or a Beneficial Interest in Borrower. tf all ~~r arz~ ~art c~t :he Yrr.~~rt~ cir an~
~ ~t~trretit in it iti,uld c~r tran~ferred f~~r i(a henetiri.?I interetit in R~~rn~~ser ~ti.e~ld c~r tran~ferrecl an:1 R~.~rr~~urr i~ nc~t natur~l
~ ~~=_r~~~n) ~c~th<~ut L~ndrr'~ ~rii~r ~~ritten c~~ntirnt. I.rnder nia~, at it~ ~~~ti~m. reywre immr.iiate ~a~ment in full nf all ~umti
= ,~~ure~1 h~ thi~ Secunt~ Intitrurnrnt. H,~~tir~~r. [iit~ ~~~h~m tihsll n~~s he e:.~r~itir~1 h~ Lencl~r if r.~ercitie i~ ~re~hihited h~
` i~:ie•rai la« .n cif the date c~f this Serunt~ In~trunient.
[f Lrn:irr cx~r:~itie~ thi~ c,~tie,r~. Le~ider,h~il gi~e B~,rrc,~~er ne,ti~r c,f a~~elerat~~,n. Thr rntir~ ,h..ll ~n~~i~ie ;i ~eri~,d
,i nut Ir.. than ?0 da~~ fr:im the date the nc~tire iti ~leli~ered ~,r mailed u ithin ~chi~h I3r,rn,~crr mutit ~a~ ali ~umti ~ecureel h~
'hi~ Sc~urit~ (ntitrument. If Burre~~ser f~iil~ tc, ~a} thetie ~umti ~ric~r t~~ thr ~~~irati~~n c,i thi~ ~en~x1. 1.~•nelcr rna~ in~~~ke .in~
~,inrciie. ~errnitted h} thiti Securit~ Intitrument witnc~ut further n~~tire cir Jemarid ~~n B~~rrence:r.
t8. Borr~iµer's RiKht to Reinstate. If Bcirr<~wer meet~ rertain ccmdiuunti, R~rrc>wer tihall ha~r thr right t~~ hatir
~•nf~~r~rm~nt e+;~thi~ Securih In,trument diuc~nt~nued at an~~ time ~ric~r tn thr earlier c,f: (a) 5 da~ti (c~r,u~h e~ther ~eric~d ati
:,~~,1ir~ii~le la~c n»~ ti~e; ~t~ f~ir rcin~tatement 1 hef~re tiale ~f the Prc~E~ert~ pur~uant ti~ any ~cn~rr c~f ~:~Ie contained in thi~
ti~cun[~ In~trument; ~~r {b) enin c~f a judgment enft~rcing thi~ S~runt} In~trument. Thcne ~c~nditic~n~ are that Be~rr~~wer:
~a~~ l.~ndrr all tium~ v;hi~h then ~~r~uld he due under this Securit} In~triimrnt and th: '~ote had ni~ acceleratic~n
+~.~~urrecl: (h1 cure~ an~ ~iefault r~f an~ other ~c~~enant` ~r agreements; (r) ~a}ti all ~x~~n~eti inrurred in enfc~reing this
~ecurit} Intitrumrnt, including, hut n~~t limitee! t<~, reasc}nahle attcrrne~,' fe«: and (d) taketi ~urh acti<~ri ati I.ender ma~
, rr~i,i~nahl} reyuire t~~ a.tiure that t}ie lirn c,f thi~ Securit} Intitrurnrnt, I.encler'ti nght~ in the Yrc~~ert~ and B~~rrower's
;~hlf~ahon t~~ ~a~ the ti~~m, tiecure~ h~ thi~ Srcurih In~trument tih;ill cc~ntinue unehangcd L'~c~n reinstaten~cnt b}•
fi~~rru~cer, thiti ~LCUnt~ Intitrument and the ohligati~~nti ~ecured hereb} ~hall remain fully efferti~e ati if ne~ arreleratic~n had
~~icurred. H~~~~~e~ er, thiti right t~~ reinstate shali not a~~l~~ ~~z the ca,e <~f acreleration undcr paragra~hti 13 or 1%.
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