HomeMy WebLinkAbout0979 r -c -r . . . . . . . _ ' • • • . • . _ .r . _ _ .
lmtru~lknt. Unlc~s l~~rruwer ~?rxi L.c~xl.r agrer: tu ~?t1?~r tcrms ul pa~ n~nt, thctie unxwnts .hall tk~r inicre+t frum thc ~1at~ uf ~~.hur.cnx nt ,
at th~ [~h?te rat~ :siti~i ~ha{I tx payablc, wath im~re.t, u~m nc~ticc from,LenJer tu Borr~wer r~yuc.ting pa~menl. ~
li LenJer rcyuirrd s~tungsge in.uranre :ati a coixlition uf making th~ i.~n ,c.-cul~fi y thi; S~.vrity ln~trument, SurruH~r ~hall
pay~ ~tx~ pr~miunu reyuircd ta maintain thr insurarxe in efti~ct until .u~h tim~ a. the reyuire~iknt for tfie insuran~~ terminatc~ in xrur~larxc
with &~rru~~~~r's and l.ender's written ~greement c~r applicable law.
S. Inspectiun. L~;ndcr ur it~ agcnt may mak~ reasunablc entri~s upan.and inspectiuns ufthc Prup~;hy. Lrn~ler,halt gi~~ &~riuwcr
notice at the time of or prior to an insp~.-~tiun ~pecifying re:asunable cause fi?r the impectiun.
9. Cundemnulion. The pnxc~~is ut~ any award e~r claim iur danwgcs. JircYt ur consc:yuential, in runrx~tiun with ai~y rorxlemrwtiun
ur other taking uf any pan of thc Prupc:rty. or for cunvey~nce in ficu uf condemn;~tiun, ar~ hcreb}' a.s+gned anJ shall be paid to Lencler.
I~ the event uf ~ tutal taking of~ the Prup~rty, the proceeds shal{ bc: app{ied ta ~he sums secured by thi. Sccurity In~trunx:nt.
whethcr or not then duc. with any excexs p:+id tu Borrower. tn the event ut~ a partial taking o6 the Property, unless Sorrower :~nJ
L.erxi~r othcrwi~e :+gr~ti: in writing, ttn~ ~um~ x~un.~i by this Sctiurity lnstrunx;nt sh:?II be rc~iuceci by the anxwnt uf ttx: pr~x~~:J~ multiplicd
by the fi~lluwing fraction: (a) the tot~l ~mount uf the ~uins u.~urcd immediately bc:fi~re the Wking. ~ivideJ by (b) the fai~ m~rket
v:~tue ol the Pruperty it»mcJiately tkti~rc the taking. Any b:+i~nce sh:~ll be paid to Bornzwer.
!f the Froperty is abandoned by 8urruwer, ur if, after notice hy Lender to Barrower Ihat the c~mdemnur offer. tu make an
;~ward or settle a claim ti~r Jamages, Barrower f~ils to respon~ to Lendcr within 30 da?•s after the Jate the n~?~ire is given, LenJ~r
iti author:~~~ ta collect and appiy the prcxxeeds, at +ts uption, cither tu reslor:~tiun ~~r repair of the Propeny or to the sums securcd
by this S~tiurity Instrument, whether ar not then due.
Unless Lcnder und Borrower c~therw~ise agr~e in writing, ~ny application of pnxeeds to principal sh~ll n~x extenJ ur potitpone
the due date uf the monthiy payments referred t~~ in par:+graphs I and 2 or ch~nge the amount ~~f such p~eyments.
10. Borrower Not Released; ~orbearance B~~ Lrnder Not a«'ai~•er. Exten~ion of the timc ti~r payment or mudifir:~tion af
atiiiortization of the sums secured by this Security lnstrument gr~ntecl by Lender to any successor in interest of &~rr~w~er shall nut
uperate to release tlr~ 4iabi{ity of the original &~rrower or Borrow•er's successon in interest. Lencier shall not be required to rui~~menre
pnxeedings against any succesux in interest ur refusr. to extend time for payroem or utherwise nxxlity :~mortization of the sums secured
, by this Serurity lnstrumcnt by reason ot an~~ demanci rnaeie by the origi~al &~rrov?•ec or &~rrowe?'s su~ce~.u~rs in interest. Anv forbcararxe
h~ C.enJer in exercising any right or remedy shall nut ix a w;~iver of or areclude ~the exe~cise of uny right os remedy.
1 l. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and ~grc~e;ments of this Security
In~trument ~hall birxl arx~ benefit the succe~.u>n arxl :?.~.~ign~ iif
Lender arxl Borrower, subject to the prcvisions of paragraph 17. &~rmw-cr'~
~~n~enants and agr~emtnts shatl be: joint and several. Any &~rrower wh~~ ra-signs [his Securit~~ Instrument but d~xs not execute thr
~1ute: la) is co-sigoing this Security In~tr~ment unly to mortgage, grant and convey that Burrower's interest in the Property und~r
the terms of this Security [nstrument: (b) iti nut }x.rsonally t~b{igated to psy the sums secured b}• this Sc:curity lnstrumenr, and (c)
agrees that Lender and any other Borrower may agree.to extend, nuxiify, forhear ~~r make any accommcxiations with regard to thc
t~rms of thi~ Sc:curity Instrun~ent ur the Note w•ithout that Barrower's con.tient.
12. Loan Chargps. If the luan secured by this Security Instrurnent is subject tu ~ 13w ~~~hirh uts maximum lua~ charges, and
that law~ i~ t7nally interpreted so that the interest or other loan charges collected ur tu tx collected in ronncction with thc I~~n exr~~cd
~he permittcd fimits, then: Ia) an~• su~h loan charge ~hall be reduced hy the an2ount nece,sar}~ to reduce the rh~rge to the permittcd
i[niit: aod 1b) any sums already collected from Borrower which exceeded permitted limits will tx: refunded to Borrower. Lc;nder mey
~h~x~tie to makc this refund by reducing the princ+pal owed under the Note or by making a direct payment to Bor~ower. !f a refunJ
reduces principal, the reduction wili M: treated as a paniat prep~tyment without any prepaymcnt charge under the Note.
13. Legislation Ai'fecting Lender's Rights. !f cnactment or exp;ration of spplirable laws has thc effect of rcrxlcring an}• provi~ion
~~f the Note or this Security Instrument unentiirceable acrording to its terms, Lender, at its option, may myuire imniediate payment
ii~ tull of all sun~s secured by this Security Instrument and m~y im-ake any rernedies permitted by paragraph 19. It L~:ndrr exercise+
ihi. option. Lender tihat! take the steps specified in the second p~ragr:~ph of paragraph 17.
14. ~iatiees. Any noticc to 8urrov?•er pru~~idcd for in this Security Instrument shall be given by delirering it c?r by m~iling it
h~ tirst class mail unle,~ applicable !aw reyuicc~ ~~+c: of anuther methcxi. The notice sh:~lf be direrted to the Pruperty Address or any
~~ther addres~ Bc~rrow•er designates by notice to lx:nder. Any notice to Lendcr shall be giv~n b~~ tir.t cta.. mait t~~ l.ender'ti address
,tated herein or any uther aJdress LenJer design~tes b}~ no~ice to Burrawer. An~• notiee provided for in this Security fn~trument sfial{
he Jremed t~~ h:~ve t?een gi~~en to Borrower or Lender when given as prejvided in this paragraph.
15. Go~~erninR LaH; Se~~erability• This S~:rurity Instrument shall be go~~erned by fcdcral law~ and the I~w~ uf the jurisdictiun
i in ~rhirh the Prup~rtp is lc~cated. ln the event that :~n~~ pro~~isiun c~r clause of this Sc~urity Instrurmnt or the Nore cunflirts w ith :~pplicable
la~~ .,uch con{lict shall not al~fert otfier pro~~ision+ ol this Security lnstrument ~~r the Note w~hinc ~an be gi~~en efiect «~ithout the cantlicting
~ ~~rcn•i~ion_ To this end the pruvisions oE this Security In~trument and ihe Note are deriared tu be severable.
16. Borrow~er's Cop}~. Borrc~v?~er sha(t t?e ~ircn czne conforntied rop} ot the iVote and of tfiis Security lntitrument.
17. Transfer of the Propert~~ or a Beneficial Interest in Borro~er. If ;~II ur any part t~f thc Propert~ or any interest in it
i, >uld or tranferred (c~r if ~ beneficial interest in &~rru~-er is sold ar transferred and Borruwer is n~it a natural pecu~n) v~'ith<~ut Lender's
prior written conxnt. Lcnder ma~. at its option. reyuir~ immediate p;~ymcnt in full c~f all sums srrured by ~his Serurity Imtrument.
H~~N cver, this option shaii not be exerrised by Lendcr if exerciu: is prohibited by federal law~ as of the date c~f this Security In.trwnent.
If Lender exerrises this option. Lender shall give Borrower notice of acceleratiun. The notice sh~ll pro~-i~1e a peri~~ei of not
!c„ than 30 days from the date the notice is delivered or maited within which Borrow~er must pay all sums .ecured b~ this Security
Imtrument. If Borrow~er fails to pay these sums prior to the expiraticm of this peri~xi. Lender m~y im•oke any remc:dics permitted
h~ this Sccurity Imtrument without t~urther noticc or ciemand ~?n Borrower.
t8. Borrow~er's Right to Reinstate. If Borrower meetti certain condiEions, Borrow~er shall ha~~e the right to have enti>rcement i
rf this Security Instrument discontinued at any time prior t~ the earlier ot`. (a) 5 da}~` (or ~uch other peri~xi a~ appticahle law may ~
~~cify for reinstatemenU before sale of the Property pursuant ta any pe~wer of sale contained in this Security In~trurtknr, or Ib) entry
~~I a ~udgment enf~~rcing this Securiry Instrument. Those conditions arc that Borrower. (a) payti Lender all sums which then would j
he due ~nder this Security Inytrument and the Note had no accelcration c~crurred: (b) cures any default of any other cc~venants or i
a~~reements, (c) pays all expe.nses inrurred in cnforcing thi~ Sccurity Instroment. inrluding. hut not limited tc~. reasonable attorncy~~ ~
~ t~~.: and Id) takes wrh ~ction a. Lender may rea~onably require tu a~sure that the lien of this S~curity Instrument, L,ender's right~ ~
in the Property and Borrower's obligation to pay th~ sums ~ecured by this Securiry lnstrument ,h;~!! continue unrh~nged. Upon i
~ rcintitatement by Borrower, this Security~ Instrument and the ohligation~ secured hereby shall remain fully effecti~~e as i[ ne~ acreleration
~ h~l~l occurred. However, this right to reinstate ~hall not apply in the ca,e of acceleration under paragraphs 13 or 17.
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