HomeMy WebLinkAbout0997 If ~ender required morlgage insurence as a condition of making the loan secured by this SeCUrity Instrument, Borrower shall pay
lhe premiums ~equi~ed to maintain the insurance in eHect undi such time as the ~equirement for ths insurance terminales in accordance
with Bo~rovuer's a~d Lender's written ag~eement or appllcabls law
a. Hap~cdon. Le~der or its agent may make reasonable enlries upon and inspections of the Propery. Lender shall give Borrower
notice at the ~me ai or prlot !o an insqection specitying reasonable ceuse for the inspection.
9. Condemn~tbn. The proce~~ds of am? award or claim for damages, direCt or consequential, in connection with any condemnation
or othe~ taking of any part of the P~roperty, or for conveyan~;e in lieu of condemnation, are hereby assigned and shall be paid to Le~der.
In the event of a total taking of the Property, the proceeda shall be applied to the sums secured by ihis Secu~ity Ustrument,
whether or not then due, with any excess pald to 8orrower. In the event of a pa~tial taking of the Property, unless Borrows~ and lender
otherwise agree in writi~g, the sums secured by this Security I~strumer~t shall be reduced by the amount of the proceeds multiplied
by the following hection: (a) ihe total amount of the sums secu~ed immediately before the taking, divided by (b) the fair market value of
the P~roperty immediately before the taking. My balance shall be paid to Borrower.
If the Property Is abandoned by Borrower, or it. aRer nodce by Lender to Borrowe~ that the condemnor oHers to make an award o~
settle a claim tor damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to
collect and apply the ptoceeds, at its opGon, either to ~esloration or repair of the Properiy or to the sums secured by this Security
Instrumen~ wl~ether or not then due.
Unless Lender and Bonovaer othetwise agree i~ writing, any application ot proceeds to principal shall not exiend or postpone the
due date of the monthty payments refened to in paragrap~s t and 2 or change ihe amount of such payments.
10. Bomo~?ver Not RMwsed; Forb~cs By lendK Not a Nhhrar. Extensian o! the Ume tor payment or modificaGon of amortizaiion
of the sums secured by this Securiy lnstrument granted by Lender to any successor in interest of Borrower shall not operate to release
the liability ot the otigir~al Bortower or Borrow~er's successors in interest. Lender shell not be required to commence proceedings against
arry successor in interest or retuse to e~ctend time tor payment or otherwise modiy amortitation ot the sums secured by this Securiy
Instrument by reason ot any demand made by the original Borrower or 6orrower's successors in interest. Any torbearance by Lender in
exercising any right or remedy shall not be a waiver of or preclude the exercise oi any right or remedy.
11. 8ucoes~ora and Aai~ns Bound; Joint and 8everal L.tabilitr; Co-si~ners. The cov~enants and agreements of ihis Security
Inst~ument shall bind and benefit the successors and assigns of Lender and Bor~ow~er, subject to the provisions of paragraph 17. Borrower's
covenants and agreementa shall be joint and several. My Borrower who co-signs this Security Instrument but does not execute the
, Note: (a) is co-signing this Securiry instrument only to mortgage, grant and Convey that Borrower's interest in the Property under the
~ terms of this Security instrument; (b) is not personally obiigated to pay the sums secured by this Security Inst~ument; and (c) agrees that
- Lender and any other Borrower may agree to extend, modiy, forbear or make arry accommodations with regard to the terms oi this
~ Sec:uriy Instrument or the Note without that BoROwer's consent
; 12 Losn Charpss. If the loan secured tiy this Security Inst~ument is subject to a law which sets maximum loan charges, and that
r law is finally interpreted so that the interest or other loan charges Collected or to t~e coliected in connection with the loan exceed the
pe~mitted limits. then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;
' and (b) a~y sums already cotlected irom Borrowaer which exceeded permitted limits will be refunded to Borrower. Lender may choose to
make this reiund by reducing the principal ow~ed under the Note ~r by making a direci payment to Borrower. I( a refund ~educes
principal, the reduct~on wi!! be Ueaied as a pafial prepayment without arry prepayment charge under the Note.
~ 13. Lepis{stion AMecling Lende~'s Riptits. If enactment or expiration of applicable laws has the effect ot rendering any provision of ~
the No4e or this Security InsNument unenforceable according to its terms, Lender, at its option, may require immediate payment in tutt of ,
all sums secu~ed by this Securiiy Instrument and may invoke any remedies permitted by paragraph 19. Ii Lender exercises this opt+on,
Lender shall take the steps s~ecified in the second parag~aph of paragraph 17.
14. N~tices. My notice to Borroarer provided for in this Secu~ily (nstrument shall be given by delivering it or by mailing it by first
~
Gass mait unless applicaWe law requires use of anather methad. The notice shall be directed to the Properry Address or any other address
Borrower designates by notice to Lender. Arty notlce to Lender shalf be given by first class mail to Lender's address stated herein or arry
other add~ess tender clesignates by nolice to Borrower. Any notice provided (or in this Security Instrument shall be deemed to have been
given to Borrow~er or Lend~r when g'nren as provided in ihis paragraph.
- 15. Gov~min~ Lsw; Sev~sbilitX This Security Instrument shall be governed by federal law and the law of the jurisdiction in which
the Property is located. tn the event that any provision or clause of this Securiry Instrument or the Note conflicts with appficaWe law,
such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect withoui the conflicting ~
pravision. To this end the provisions of this Security Instrument and the Note are declared to be sc~rerable.
i 16. Borrowers Copy. Borrower shall be given one conformed copy of ihe Note and of this Security Instrument.
; 1T. TransEer of tl~e Property or a B~flcisl I~ in Bonow~r. If alf or any part of the Propetty or arry interest in it is sold or j
transterred (or if a beneficial interest in Bortowsr is sold or trans}erred and Bonower is not a natural. person) without Lender's prior
written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument_ However,
this opiion shall noi be exercised by Lender if exercise is prohibited by federal law as ot the date of this Security Instrument.
if Lender exercises this option, Lender shall give Borrower notjce of acceleration. The notice shatl provide a period o1 not tess than
- 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Securiry Instrument. If
± Borrower fai{s to pay tttese sums prior to the expiration oi this period, Lender may inrake any remecfies permitted by this Securiy
~ Instrument without turther notice or demand on Borrovrer.
[ 1 S. B~oRO~w~r'a Ri~M to RNndtt~. if 8orrow~er meets certair~ conditions, Borrower shaU have the right to have enforcement of this
Security Instrument disconGnued at any time priat to the eariier of: (a) 5 days 1or such other period as applicable law may speciry for
reinstatement) betore sale of !he Piropery pursuani to any power of sate contained in this Security Instrument; or (b) entry of a judgment
* eniorcing this Security Instrumeni. Those conditions are thal Borrower: {e) pays Lender all sums which then would be due under this
Security Inatrumer?t and the Note had no acceleraGon occurred; (b) cures arry defauli of any other covenants ar agreements; (c) pays a11
expenses incurred in enforGng this SecuritY InstrumeM, including, hut not limited to, reasonaWe attorneys' iees; and (cq takes such act+or~
as lender may reasonably require to assure that the lien of tltis Security Instrument, Lender's rights in the Property and Borrower's
obligation to pay the sums seCUred by this Security Inst~ument shalt conGnue unchanged. Upan reinstatemeM by Borrower, this Security
. Instrument and the ob(igations secured hereby shall remain tully eHective as it no acceferation had occurred. However, this right to
reinstate shatl not appty in the case of acceleration under paragraphs 13 or 17.
BOOK 541 PAGE 997
oay~3da
FIOpIDA-8lnpl~ FamUy-fNMA/FHIMIC UNIFOpM INSTRUMENT Fo.m w~o ~tia~
dF F1S0023 7/M
~,~..._.r.....- z - . -..~.s-~ _ _ -