HomeMy WebLinkAbout0993 . lt i.~nder requ~rod mort~e insursnce as a condition oi' rnaking the 1o=n socurod by thb Security In~trument~
BorroweX shsli p~y the prc~niurtt=requlra! to m~intai~f the inatirf~nce in Nf'xt unN1 fuch time aa tt~a ~equir~»! fo~ the ~
inaunria termin~ta ii~ accbtd~dtx ~?ith ~3oirMar~r't ahd ~.eadet~`a wr~tten tgt~ete~t or i?~ptkabk taMrr ~ t
S. I, t;tnder; or'~fs age~i~Trt~y tN~llct ~t~pi~ab}e entirira upon and iibipectia~ of the Pe+operty. I.e~der
shatt giv~'Bo~r~'t~~ot~oe'it the tirri~ oT~~r~~rlor tA si~ ~tp~, tbii'~Cif
y_inE reas~~bk ai for the inspecciaf. . . ~
~ T ` ~ ~~s~t.'': The R '~f'~n~'~vin?~ ~`cli~iri~ to~r`~in1i~; dit+Ect ~ ` ti~l, in a~ ~tk •
~ ouiy con~fenina{t,tbn`or ot t~lcin '
.~2y"°y~~j~~[ F~t` fh`~ -rt; ~Y_
!.j.,f'or'~o~? in'1~~~tio~~ areLp~p~•. ~
w~1~~~~~.~J~~i{{/cl~~~~~i,~j ' £I,f-:__+; s`~,.~! ~ ti` i~~~l•~•~.l _ , Zr~~ _:E .Yt . . r~ t£ ~ . . F .
~t~ 1he Zvtn} bf a total'tukin ~aP ~h~~ ` ' . . ~
8 P~ettY•.'~he proae~ds'ittl~I1 be'a~plied t~i`th~ ~urtt~'aecut+ed by thlt Security ;
i~i~t~iriient. aifibthfr tir no~ t1fe1~'du "r.` with `~S~ '~ex~3s paid to ~t~i3wei~'I~t ttie tvent of ~ p~~}tlul talcib~ of tlk Prbpttty; ` :
u
unl~s3 ~or~i+tr un~ Len~er$other~+tae a$i~e~'in aritih , the autlti~'~dr~~y ihis Secur#ty'I~fi~m~t+t stiai! be ~eau~ed by F
the etiidd~t o~ t~e proc~bd~ mult~plicd 6y th~ tbllo gfra~~itih4`~dj the
~t~tst aiiwu~t of "t?it sums ~ec~tred iadh~Wi~tdyr ~
before the taking~ d~vided by (b) the fair market valu~ c~1f ~hc' Pi~o~rt~r im~ii~di~tely tieforc tb~ t~kln~. Aity b~ltnoe slivl be ° f
p~a1a to$orro~ei. . _ . . ~ . , , , , _ ,f. . 3= ~
If th~'Prafpetty f~ ali~niioned by' Borrower; 6ir if, aRer notice tiy Y.ender to BarroMet tls~t ths ~ooa~ainor ~'en ta
makc ~u~? award or~settlr a cllliim for dama~~s: Homoaeir faih to re~p~d td Lendefi'ivithi~ 3b daya ifttr th~dsfe th~ notioe is
givcn, i.cnder is ~utl~oriz~d to`cdllact~uid ~tpply thr prooeeds, dt itat.optiai, dthFr tai reafor~?hcAt oi~ tepair af thc Proparty or
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to che siiiins sacii`rod ~y t#~i~ Sccunt~i:I~lstn~fnent. whahet a~na tiien du~e: ~ . .
' Unkss Leitder and 8orrov~ieei ushetrvise ug,ret iri w?ritin8. ~y p}~Plicatiari ot~trocaeds to p`rii:cip~l ~h~ll tio! e~iend or
postpoae the due datt of tb~ monthty paym~nta ir~i+al t~ ~n paragrapha l errd 2~or cha~ge Iha ini~t of ~ch paynKna. '
!0. 8otrower Not' Re1~Met~ Fot~ruoe
~ H~?~ I.eNer' Not= a~Walver: ~te~io~n of t6e ~~ma for= piYi~eat or
modiBcarion of siaortiuttian of the awna socured by thla Socurity Instrument grantod by~La~da~:w ~ay~suooe~eor in~
intereat vf Aorrawa ahall aot opente to nkaaa the liab~llity ot; t~w asigituJ Hortsriver o~ Botr~v~et'~ wooe~ons in Latereat.
~ I.eadei':shsll nflt tx r~quired to.ooasoid~oe: ptooeed~np ~sir~t=ewy, woceawt,in intarost or~:refwe ta o~tend tir~e for.
p~Yment or odierMise±nodif'jr u~prt~tionr d'the swna aeeured by,~is. Secwity Instn~me~t bY:re~aoa of.suy dan~nd mAak
by. tha orig,inal Borrower or Borrower's sucoessors in interest. Any forbeannce by L.cisder in exaraisin,g ~ay r~t oc retnedy
shall not be s a+~1~er of or preclt~de the exercise of sny, right qr;f~aedY,. r
l1.. S~c~oa~ors aod Aesi~as Houed; Joiat swt 5enrd Lt~ibqit~, Co~ner~, 'The oovcnants and i~~reanaus of ~
t h i s S
e
cu dty I»strument s
h
a 1 1 trind arW bdis6~ th~ s
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e ore a~ ~Isaigna bf Leader u~d Bbtrow~r. wbjeet to tht ~rovisions
of P~SnPh 17. Bomower'a covenanta snd ~gramenta stull be joint snd several. My Borrower ~?ho ~q-~i~n}_~is Security
Iastrument bu! does not execute the Note: (a) ia co-signing this Sccurity Instrument onfy to nloifg~ag~, gniat ind oonvey
that Horrower'a intcress in the Property under the terms of thta Security Instrumei?t; (b) is not persamally obligated to pay
the sums s~c~tral by ~ 3a;urity I~trume~?t; ~nd (c) `sgrees that L~dsr and sny al~er Bor[~ower aiay's~C+ee~ to axta~d.
modify, forbear or make sny sa:ommodateone with te~trd'to the tanm of tbis-Secnritjr:in:trumd+t or-the Not~~~tl~out
that Bornower': conaent.
12. I.osu C~a. If tha loan secured by tl~ia Sacurity Instrumcnt is subject to a law whic6 sets m~udmw~ lo~ .
chuges, ar[d that law ~S 6aallq interpreted ao t~at t~e interest or otfier 1o~ ct}arga co~locted ar to.be ~oolleotod in
a
canaection N+ith tho ~oa~a'`exceed the pecmitted lunits, thc~n: (a) any suc1~ fo~Fi~bar~e sbsll be teduoed by tlie a~ouAi
neoessary? ta reducx the charge to tbe permittod limit; ~ttd (b) any sums already collxted from Horrower whicb e~u~eeded
pamittad limits witl be i+ef'unded to Borrower. Lcnder reay cboose to make t}iia refund by red~ci~g the priaaPat wved
unda the Note orby asslupg s direct payment w Borrowtr. If a refund raluca priacip~[, t~e reda~ion aill be trated ss s
1~~ P~Y~ent without aay PrtpaYmer~t eharga under the Note. ~ -
23. Leg~latia~ ABecdp~ Lead~'~ Ri~b. If qtactment oc expirstion of spplicabk laws t~aa the dfoct of
rertderiag any proviaion of the Note or this 5ecurity 1»sirumanf unenfororable accarding to its terms. I.rnder, st its optios~,
may requin immediate payment in fult of sll suma secured by thia Security Instrument and msy invoke any rtmedies
permittod by paragraph 19. If Lrnder ea~rcises this oPtion, Le~der shall take the steps spacificd in the socond par~graph of
ParaBraPh 17. , _
l~. Nadca. Ainy noticx to Barroaer providod for in thi3 Security Inairument shsll be giva~ by dttivex&?~ ft or by
mailing it by 8rst class msil unl~s appticabte laa roquires use'of another method. The riatice shs11 be dl~'+ecta!`to`!1u
Property Address or ~ny other address Horrower designates by notice to I.ender. Any notice to Lender s~uU be g,ivrn b~r
8rst class msil to I,ender's address stated herein or any other address Lender deaignates by notice to Borrowa. My aotice
provided for in this Sc :uriry Iastrvmeat shall bt dcemed to have been giv~ to Borrowar or Lender when given ss provided
in this paragaph.
~S• Go~ernlnS I.sw; Se~rat?Mtity. This Socurity Instrument shall be governad by fedenl taw snd the law of the
jwiadiction in which the Pro~erty ie lacalal. In the evtnt thst aay provision or claus~ of this Securiiy Inatrument or the
Note confliets a+ith app}i~xbk 4M, such oanfliet shall not aQ'ect other provi~uona of this Security Instruma?t or the Note
wbich can be given eQoct without the caonflieting provision. To this end the provisions of this Socurity Instrument and the
Note are dceiared to bt severabk.
16. Borrower!: C~y 8otrowa shal! be sivat one caafarmed copy of the Note ar?d af this Se~curity Inatrumer~t.
/~,t~ 17. Tratiufar ot t4e Property or a Heaetklal Intuat in Borcower. If all or any part of the Property or any
~ ~ int~rest in it is sold ar transferred (or if a bendicial interest in Borrowtr ia sold or trensferred and Borrowec is not a natural
pcrson) withos~t Le.mder's prior writt~n consent, Lender may. a.t its option, rcquire immediate paymrnt in f~U of all sums
secured by this Serurity Instrumr.r~t. However. this oQtion shall not be exercisod by Ler:der-if exercise is ~rotubitod by
federal law as of the date oithis Security Instrument.
If Lender eaercises thi's optiort~ Lmder ahall give Horrower notice otacceleration. The notice shall provid~ s period
of not less than 30 days from the date the noticx is delive~ed ar mailed within ahich Bonower must pay vJl sums secumd by
this Sscurity Instruma~t. It Borrow~r fxils to pxy these aums prior to tha expiration of this period. Lendcr rr~ay invoke any ~
remedia permittod by this Se~urity Instrument without further notice or dcmand on Borrower.
18. Aorrnwpr'f R1~t to Retdstate. If Bortower mats certain conditions, Borrower shall have the right to havt
~ enforoement of this Socurity Insttvment disconiinued at nny time prior to tho earlier of (a) S days (or ss~ch other period ~?a
applicable law may specify for reinitatement) before sate of the Property pursuant to any power of aate contained in this
Security Instrument; or,(b) entry of a.judgmrnt enfurcing this Security Instrument. Those canditions are that Horrower:
(a} pays Lender a!1 sums whieh then would be due under this Security Instrument and the Note hu! no accela~ation
vocuned; (b) eur~s any default of any other covensnta or agre~nsnts; (c) psys all racpensa incurrod in enfarc,ing this
Sscurity Instrutnent. including~ but not lirrlited to, resaonsbk sttonw;ys' toeb; snd~(d) taka auch ution.~s.Le~~dac rosy
reasonably require to asseir~' tl~st tbe lien of this Socurity Instrument, Le~'a~r~ }~ts ~n tbe Property u~d 8orrower's
obligation to pay the sums securod by this Socurity Inatrument shall ebt~niud~Anged. Upon rrinsutement by
Botrower. this Security Instrument and the obfigations socured heroby~~~m~i fully eR~tive as iFno uxtltntion hsd
oocurrocl. However, ibis right to reinstate shalt not apply in the case oP e ti6~~nder pat~raphs 13 or 17.
aeaa> »e .
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~'~t~. .;1ty ~ 4~~ti'~~l~ ' ~~~j~V PACE 9~i
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