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HomeMy WebLinkAbout0926 It~ Lender rryu~red rnortg~i~;c ~murancr a~ a ci~nditiun ~~f making thr luan ucur~d by It?is Srrunty ln.trument, f3c~rru~~er ,hall S~a~• the ~remiums reyuired to maintain thr intiuranr~ in e(l~ct until ~urh limr :~s ~hr reyuirrm~nt fc~r t~~c in,~iranrc term;n:nr~ in arcurdance ~~•ith I3~~rm«~et's :ind l.cnder's ~ti~ritten agreenirnt ar .i~plicable la~s. ' R. Inspecti~m. i.ender c~r it, ,igent n~a~ m,ike re,~sc~nahle entries u~~m and intipc~tiuns ~if tlie I'r~~pert~~. I.rnd~r ,hall gi~r l3i~rrt~~~•rr noticr at the time c~far }~rior tc~ an inspe~tiz~n specify~ing r~:+~~~nahle ~au,e fe~r thr in~~cct~un. 9. Condemnation. Thr ~r~,cerd. ~~I any a~vard ~~r rlaim f~~r dama~~s. ~fir~ct i~r consrqurntial. in r~~nncruun ~rith :+n~~ ~e,ndemnati~m ~~r ~~t}Zer taking e~f an~ Part ul~ the Property. ar li~r r~mve~'ancr in liru ~~f condemnatic~n, arc herehy :iti~i~;nrd and shall be p,~i~i ti~ Lender. In thr e~ent ~~f a t«t:il t:~king ~~i~ tt~c 1'r~~~urt~, the rroreeds tihall he .?nri~<a c~~ thr ~um~ tie~ured b~~ Ihiti Se~urit}~ ln~tr~tn~ent. ~chether or not then dur, w•ith an~' rxcest paiel to l3orr~~~~er. In the e~ent cif a rartial Iaking i~t~ th~ Nre,pcrt~•. unir., Borro«~er and l.~nder cither~~~itie agrre in ~~~riling, the sum~ srcured b~~ thi~ Se~~urih~ In~trument ~hall be rec3uced by = thr ame~unt uf the proceeJ~ multiplied b~• thr foll~i~ring fraction: (a) the tutai amount of thr sums ~ecurrd immediatel}~ hrl~~re the taking, di~~idrd b~~ (h) the f:~ir market ~~alue uf thc Pn,pcrt~ immediatelr hrfi~re the takii~g. An~• b~~lancr tiha!! he ~~~tici tc~ Rorrc?a~er. It ~he Ym~er~~• iti ab:tndoned h}• l3urrc~~~•rr, or it, alter notic~ b~ I.encirr i~, i3urru:~cr tt~at thc ~;~t~d~~~~~a:r, ~~;;c;~, s:; - makr an aw•ard ar sctth a claim tor dam.?ges. 13~~rrc~w~er f~~ilti tu re~pe~nd to I.rnder ~~~ithin 30 e1a~•ti .iftrr the d:~tr thr nuticr is gi~ en. Lrnder iti authorized t~~ ce~llect and aprly~ thr ~nkeedti. at it~ ~,~,tii~n, rithrr t~, rr~torauun cx re~air ~if thr Prc~rertt~ c~r ta the tiums secur~d h~~ this Securit~~ lnstrument, ~chethe,-~r s~ot then ciu~. l.~ntrts I_endrr and Hc~rrcn~•er ot}tertisise agrer ir2 u•riting, an~' cipplirau~~n of ~,r~ii-~rd~ t~• ~~rinrip:~l ~hall n~~t rxlend ~~r ~~,stp~~nc the duc date uf the m~,nthl}• payments referred to in paragraphs 1 and ~ c,r rhange Ihc am~~u~zt i~f ~urh ray'menta. 10. I3orrow~er tiot Released; l~orbearance fi}• l.ender \ot a~~'aiver. Extrmiein ~~f the timr ti~r pa~~mcnt ~~r mudifiratic,n ~~f amortizatii~n ~~t~ the tiunu serurrd b~• thi. Serurit~• Imtrument granted h~ Lendcr to un}~ ~ure~ssc~r in interest cti~ ~3orro~~~cr shatl n<~t c~~~erate to rrleaSe tti~ liabitit)' c~F thc c~rigina) i3orrc?icer c~r Be~rru~~•er'c ~urretisors in int~rest. Lender shalt nc>t br requirrd te~ commenre ~rexeedingti again,t an)~ ~urcr~uir in intere,t or rrl~u~e li~ extend time for p~s~'ment or i~thcr~sist m~r,iif~• amc~rtization of the tiumt ticcured h~• tiiiti Sr~urit~ Imtrumrnt b~ r~a~em ol ;iny~ d~mand ma~1e h}• the e~rigi~~al [3c~rro~cer ~~r li~~rn~~~~cr'ti.ur~eti~<~rti in intereti~. An~• f~~rbearance h~ Lrnder in rxercising an~• right remrd~• ,hall not be a~~~airer af c~r prerlude the rxercise of an~• right or remed}~. il. Successors and AssiKns f3nund; Joint and Seceral I.iabilitp; t'o-siRners. The c<~ti•ens~?Is and ;igrecmrr~ts c~f = this Securitl' In~trumeait tih..ll hirul,ind hettefil [he sucreisc;rs ~~nd a~tiigm ~>f I.~.ndrr and $orro~~~er, suhject t~~ the pnn itiions ~ erf haragrsrh 17. Borro~+cr'ti cc,~enant, anci agreements tihall be jc,int and se~~eral. An~~ 13orrc~~rrr ~cho co-~ignti this Securit~~ In~trument but duec ni,t rxerutr the \~ite: (.il i~ c~,-tigning this Se~uritp {n~trument ~~nl~ t~~ m~~rtgage. grant and ci~n~e~~ that I3orro~~er'ti inter~tit in the Pro~ert~ undcr the terms of Ihis Securit}~ Instrumrnt; (bj is n~~t pertionall}~ obligateci tc~ ~ia~~ the tium~ serurcd h~~ thi~ Securit~~ In~trument; and ir) agrce. th,~t Ixnder .ind an~• c~thcr Burre~~~~er ma~~ agrec ii~ extend, m.~dif}~, fc~rbear ~~r make an~ ac-~c~rnrrn~d.iticm~ ti+•ith regard tc~ thr tcrms ~~f~ thiti Serurit} Instrumrnt ~r the \i~te ~~ith~~ut tt~ut I3orrc~ti?~er'ti c~~ntient. 12. f.oan Charkes. If thr I~~~~:i se~ured b~ ~hi~ Serurity~ Instrument i~ tiubject t~~ a la~c ~rhirh set~. maximum Ie~an rh;?reeti. and that lci~~ i~ finall~ interpretrd 1~? that thr ~nteretit or other loan rharges ce~llerted or te~ be callected in ~un~~ertie~n u~th the Ie~an esceed the ~ermitted limitti, thrn: (a) an}- ~uch Ic+an rh.irge tihall tk reduced b} the tim~>unt u«etitiar~ tc~ reduce the rharge tc, th~ ~,rrmitted limit: c+r~d fbi ar~~ surns alread~~ c~~llected fn~m 8c~rraw•er whirh exceeded - F~~rmitte~! I~mit~ w~il! be relunde.i t~~ Rnrren~•er. Lender ma}• ~ht~u.e t~~ rnake thiti refunel h~• reduring the principal u~~~ed ' under the tie,te i,r M~ making a dirert ~ayment te~ f3~,rr<~~~rr. I~a r~(und redurrti ~rizir~~al, the redurti~,n ~cill be treated ati a 4,.iriial rrepa~~~nent ~~ith~~ut a~i~~ prcra~men~ rhargr uneler thr ti~~te. 13. I.e~islation AtTectinK I.ender's Ri};hts. [1 ~.nartment c~r Lx~~ratiun c~f ,i~~,lii,ihlr lai.~ h.~ti thr rffrct uf r~neiering an~ ~r~~:itii~~n e,l thr tic~t~ cir thit Srruriic In~tre?rncrtt u~fei~Si~rcr~ihlr a~i~~re~ing ~e, it. trrm~. l.ender. at it~ u}~h~m, rttat rryt~irc StilllltL~lli(~ ~a}~n~•nt ~n tull ~~l all wm, ~rrurrd 4,~ thi. Sr~urrt~ In.trumrnt anef ma~ in~~,ke a!~~ rem~die~ ~ l~~rinittrd b}• F~~uagra~h 1~~ If L~ncier e~er,i~e~ thi. ~~j,tii~u. l.~•n~i~~r ~hall t.~k~ th,•.r.e{•• ~~~e~itird in thr Srr~,nd paragra~h e~f ' ~~aragr.i~h 1'. 14. \otices. A~~~ nnnrr t~~ t3;irn~~~er ~,n~~icf«I t~,r in tht. S~~•tirit~ In~trurzi~nt ~h;~ll ffe ~«rn h~ ueli~rrir~g ~t ~•r h~ n:a~Gne it h~ fir~t riati` maii u~eir~~ a~~li~abl~ I.t« rryuirr~ u.r „t ,~~u>ther r1~~thi~d ~fhr nutir~ ,hal! hr ~iirrrtccf tt~ th~ 1'n~pert~ Acldre~~ e~r an~ i~th~r ::ddre~5 Ri~rru~+cr clt,ignate~ h~ n~~tice tr. l.encicr. :~n~ nt~h~c t~~ Lendrr tihc?II hr gi~en h~ ti~,t rl.?,~ m~~il tu I.rnclrr'~ addre,~ titatrd h~rrin ~,r an~ ~,thrr ad~lre., I.r?i~t~r ~1r,~enat~ti h~ n~,hcr tc~ Ri,rn+~~rr. An~ n~~tirr ~~nni~l,d f<~r in thi~ S~cunt~ Intitrument ~h~~IV hr ~leemrct t~, ha.r hrrn ~i~rn {;e,rn,arr c~r L~ndrr ~~hen k~+cn .?s Pnn ~de~1 ~ in thi~ ~~.iragra~h. ~ l5. Go~•ernin~; I.aK; 5e~•erabilit~. l ln~ Sr~untc In~trurTrrnt ,hall hr ~~~~rr~ir~l h~ fee7rra~ la~+ and tlir la~~ ~~I the ~ ~i~ntidicti~m in ahich tlte Yrc~~ert~ t. lnrated In thr r~ent that an~ i~rn.~,~~,n e,r clau,e c,f Ih?ti Se~urit~ littitrument e,r thr tiwr c+~ntlittti ~~ith a~~lic.~hle 1~~~~. .unc ~~mfltct .hall n~,t alTrct e~thrr ~~nni`ii,n~ nt~ thi~ Srcunt~ In~truntent eir tl~e ticit~ `j ~•hi~h ~ars he gi~en eflert ~~?th~~ut the c~mflirting ~r~i~i~icm. I~~~ th~~ rnd thr rr~,~i:i~,n~ c~f thi~ Scrurih In.trument anci the ~ `~~tr arr cleclared t~i he ~e~erahle. ~ 16. 13orrnµcr's Copy. (iearri~~cer tihail i,~ ~icrr~ nn~ ~e~nf~~rrneel ci~~c ~~t t11e~ ti~~tr aiTC1 nf th~ti Srcunt~ Instrument. 17. Transfer of the Pr~~pert~~ or a l3enefieial Interest in }3urrnwer. it ali c~r an~ ~art ~~t thr {'rc~~ert~ ~~r an} ~ntrrett in it u~ld ur lran,ferred Iur il a bcnetirial ~ntrrr,t in 13~~rrz~~~rr ;ti.i,ld c,r tran~frrrc~l an~1 Rcirre,~+~r i~ ncit a natural E,~:,usi1 ~ti~the,Ur Lender'` ~rieir ~sritten ce,n.ent. Lrnder ma~, at it. c,~tii,n, rryuirr ~rnmrchatr ra}•rnent in fuli c~f af[ tium~ tiecured h~ thi~ S«urih Intitrument. H~~~~r~er. thi. ~~~ti~m tih.~ll ni~r 1,< <~~r~iticei h~ t.rncirr it ~~rrri~r is ~+rc,hihited by f~drral I~iw~ a~ c~f thr date c~f thi~ Srrurit~~ Intitri~ment. tf I.rndrr e~er;iti,~ thi~ <i~ti<in. I.cnclrr ~hal1 gi~r R~~rr~»ser n,~urr.~~f .+c~rlerati~,n "I he n~~urr tihal! }~r~~~ide ~eri~id c~ti rx~t le~ti lh~t~~ 30 da~ti fr+~rn the date the ne~tire i~ deli~ered ~~r mailyd w ilhin ~~•hich i3i~rn~~cer mu~t ~a~ .~11 ~umti tirrured h~. ttu~ Serunt~• Imtrurnrnt. If Rc~rrc~~~~er failti t~~ pa~• these wmti rn~r t~~ the e~rirati~~n cil thiti rrrieid, I.rruier ma}~ tn~~~ke an~ remeclies ~+ermitted by~ this Securit~~ Imtrument w~ithe~ut further ne~tire c~r demand ~~n t3e~rrc~~~~er. 1i3. Borrower's RiRht to Reinstate. if f3c~rrcncer mrct. cert:+in rcmditi~mti. Rorr<T~~er ~hall hatie the right tc~ ha~c ~nti,n•rm~nt rhiti Securit~ Instrument cliticontinucc! at an} Iimi ~ri~~r te> 1he earlier c~f: (a) 5 da~'s (c~r tiuch c~ther period a~ ` ::~~I~canle la~~ may ~~cr~(~ i~t~r reinslatrment) befc~re salr c~f thr Ympert} pur~~iant tci an)~ ~e~wcr tiale contained in this ~ Srr~ritc Intitrument: c~r lb) cntr~ of a judgmen! enf<,rcing th~ti Sei urit~~ InStrument. "I hc~se c<~nditions arr that B~rre~w~er. (~i? pa~ti I.en~ler all wmti ~~h~rh then w•ould he due under thi? Serurit~~ Imtrument and thc Note had n~~ acceleration ~ cx:curred; th) cure~ an~ default c~f an~ other co~enants ur :~greement~: (r) ~ay~ alf ex~enseti incurred in enforcing thil ~ Secunt~ In~trwnent, inrluding, but n<~t limited to, reaumahie aUe~rne~ti' feeti: and (d) ~aketi ~uch action a~ Lender ma}~ ` re~tionahly reyuire <i~tiure that the lirn nf thiti Security (nstrumenl, Len~ier'~ nghtti in the Propert~• and t3orrower's ~ oblig.iti~m t<~ pa} the ~umti tiecured h~• thi~ Security InStrument tihall c~~ntinur uncha?iged. Upon reinstatement b}' Aexr~wer, thiti Secu~~it~ InStrument and thr obligation5 xcured hereby~ tihall remain full}~ efTective ati if no ac~eleration had cxcurred. I lc~~ce~er, thiti rigF~t to reinstate shall ni~t apply~ in t he ea~c of arccicratiun undrr ~aragraphs l~ or 17. B~oK572 ~~~E ~26 ~ ~r _ - _ - ~.r . i t