HomeMy WebLinkAbout0971 ~ . . . ~ . i i ~ . . . ,
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- - ~llende+!c~qui+ecltnalgageinsv?anceasacer~d~tit~r~ltmalcin'~thelcan~ecuredbythi&Sect:~itylr~trumcnt.Qbrso:~:er.nat!__
paythQ piemiCiirls' fequire~i lo mamtain Ihe insurA~ce ih QIIaCt uMil sUCN'tlrne as Iho rCqukemenl I6rlho in~urancQ lcriminafos in
• accordanco witti Barower's anc~ londc~'s wrilten ag~eement ar applica~Q ~aw_ ~ ~ -
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8.~ Intpectlon. Lender or its ageilt7nay mako rQasonabia enl~ips'UEsonaitidinspaclions ul fhd F'ropaly: Lendor shau giva
Borrowe~'nolicQ al the tima'ot o~ prior to ~n~lnspeclion specitying~~easonabte causa lor thQ inspection~
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~ - 8 p'Ctindemnatlo~,. ' ThQ proceeds ol any awartl or ciairn~ior tlamagps, d+recl a conSaquo~lial. ir. cQnnecibn With any
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cdndem~atidrror dthei leking of any pal~di fhe'Piopwty;'o~'loy conveya~r.e in licu ot contlemnation. arohcsretiyassign~ii a~dshaU
bo paid fo'Cender. : ; .
~~•~In Ihe QveM ot alofal taking t~f iFie P~opehy; lhe ~roceeds shau be ap{~hQd_IdlhQ^sum secured b'y"Ihis Securiry Instrumer~l.
~ whether or not Ihen due.~ ~nrith any excess paid t6 Bo`rrower. ln 1hQ'evar~l b1 a p~tlial taking'ot. ih~s r t;~t~r~ass 8or~owe~ and
Lende( olherwise agreci'`i~ writing: lhe~sums seCwed bylhis SeCUr~ty InstrumCnt shall tie ied~iced tiy tlie ~mou rqc~eds ~ `
°muJtiaGed bjj'1hQ tollowin~'1laction. (al°(M~e'Idal ambunl ti1"th~ st~ms sc3n,ri~i5mm~xiiatelv`heitireltu~ lakin~ divirk~ri t~_Ih1 Iht~ f~ir
market vatue of the Pioperty immc~ate~'i bet~re IhQ taking Any,bat~nc~`~hatl be' paid'to B~i~NCr.
li 1he Pto `it ~s abandoned Borr6wer,
p~ y' by ii. ~et-rs~li~e'by'Le~~~o Borrawaf'(haC"the condernnrx`olters 1~'make an
'award br'settle a claim iordamages: 6br~bwer ,~fs t~es~on711o lc~rider wiihi~i 30 days aftei theiiaie"tha nof~co is g+ven: l:endet is~ ~
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auihorized to Collect ~nd appy~th~'proce , at its oplion, eilhei to resfbtation a~epair ~!'th~ P~opaly o~ to the sums secured by >
this Security`InsttUment, whethe~.ornof then clu'e. - ~ ~
`UnlQSS Lender and~8~rrower otherwise agiee in writing, any application ot'proceeds to'~principa~ shalt ~ot ~x~end ai
pastpone'the`due date of the rti0riihy payments ~eierred to i~.paragraphs 1 and 2 to ch~~lgelhe amount ol soch payrnenls.;
::'10. Bo~~owe'~No~t~iessed;~orbearinceByLendeiNot~W~iver.• Extazsionollhelimeloi"payment'or`mod'+licatfon , ~
ot amortaation o~ihe'~ums seceyf~if tiy this
Secu~ity fnSlrument granieif tiy Le~?dBr 1o any soccessa in in(ereSt oi Bor`"roWe! shatl not
operate lo°retease the~liaWlity oi ihe originafBoirower or Bor?aN~r's successors in interest. lender sha~t no1 be requ~red to '
commence'~roceecfings ~g~insl arry succ~ssoi in inieiest di refusc tb esctend timel6f payme~t t~~tylliervvis'~~~nod~ty amortization o~
the sums secure~l b~+;lhis Security Insirum~it by reasOn tit any dernand ~nade'by`the origin~l Barrowe? dt' B~'r'rower's successas in
interesl 'Arrq~'torbearance`by lender in exercising any ~9ght orremedy shall ri$! be a waiva Ot ot'p?e~lude 1tfe~exe.~cise ot arry rlgF~t a
rQmedy _
'~1~ Succes:or~~and`Asslyn„ _ . _ , _ ~
' s Bo~n~-Jol~it_a~i~l8ev~ril LI~Wlit~i;
Cb-~I~h~rs. 'The ~ove~ants and agre~menls oi this ~
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Secuiit insliumenl shaii bini3 and"benefif 'ihe'successors' and assigns oi Cender and Boriower, sut~jecl io ihe piovisions oi
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pafagr&ph'"17.~Bnirower's covenanls and agreements sh~li'be'joint and seveial. Arry'~8or~owei who-co-Sign"s'this Security ' ~
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Instrum~ril`but does ~ot execute-lhe~Note~ (a) is oo=signir?g"this`'Security" Inslrumeni ony td matyage. gtant and r"~nvey~that - ~
Boirowei s`interest' in th~ P~operty~under theterms ot this"Security tnsUument: (b) i5 not personaly oblig~ted'to pa'y"tiie soms ~
~ ' d(c) agrees that'Lender a~tid arry othei B~''tower may ag7~e to extend, rnodify: labear or ~
' ake any achco mod~tions'wi h~regard `tb the.terms o1 this Secunty tnstrument ot ihe`Note withou(~that Btkrower's oonsen!
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' 12.~ L'oah Ch~ryes. It Che Ioan secure~ by `itus Securit~tnslrume~t is subjed to a faw w~ch sets inaximum ban''ch~iges,
and that law is finalty interpreied Sothat the ~n±eresi or other loan'ch~rges col(ect~d oriti be'~ollecied in connection with the loan '
~xceeii th~"permitteti limiis. then; (a) any such ioan chafge shall bt#°i6duc~il by !he arr~u+it°'necessary"1o reducelhe charge to tFie
permiited limit; and (b) any sums already` colfe~ted From Bor~ower whlch exceedeC permitted limits w"elt berefuirided io Bo~rower.
lender:may choose ro make lhls refund b~ rESducingihe prmcipal owed~,r"~d~i"ihe hfoted~b}I making ~ direcC payme~l t~3 B~tawe? Ii
~ ua reltlnd Feduces inci at, the duclion wdf be"lreafed as ~ an~al r N a ment wdhout an prepaymenl . a ot rendering any
I `~13."l`e Isl ~ bt~ Afiectln' L~~id~`~.RI fits. I! enactment ope~ iation oi a l~caWe taws has tlh ~~T~ unde'r "the Nbte:
e efi~
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~ provision otlhe Notebr this Secur~ty Instrument unenfbrceabte aCCOrdn~to ~is terms, Lender. at ~tsopt~n, majr"reqUaeimmediate
ayment ~n full of ail sums secured ih~s Securit
~ exe?c~ses th~s aplion. Lender shalltake ihe stepy tnslrUment and"may ~nvol:e an~y remedies pe~mitled by paragra~fi'C9 If Lender
' s specit+e~7 m the second paragraph o' paragraph 17. ~ ~
'"14:= Notlces. " Any notice to Bcxrower provitl~d tor in tF~s'Secunty lnsirument 5ha11 tie given b'~i'delive~iiig it or by maiiing it
by Iirst class~mait tinle5s appticab~e iaw requ~res use ot another method.~Ttie nWiceshat! be dicectedto the ProPerlyAddress or any
other address BOrrower tlesignates by nosiee f6tender Arry noiice to Lerider sfiall be g+ven by first class mail toLender's addiess
( stated`herein or'any other add~ess lender designates by notice to Borrowe? Arry natice provided lorPin ih+s Security lnstrument
shall`be deemed Ib"ha've been given to Boirower or Lender when°given as provided ~n this p~ragraph . ' '
~ ° 15: Governlny'~Law; Severablllty. Th~s Security Instrume~t shal: be ~overned~`by' tederat taw and i~e Iaw of the ~
luriSifi~libn in wh~ch lhe"Property is located fn t~e event that any provision or clause ot this Securily Instrt~ment or 1t~ Note canflids ~
with apphcabte law. sucti coMlict s~all no! affeG other prov~sions bt thi~'Security Instrumeni or the Note which can be g+ve~ effect
- without the conifiCtmg provi~i0n To'this end fhe (uovisions 01 this SBCUiity lnstrument and the Note ~ce de~la~ed 1o be se+rerable. "
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- 16: Borrower's COpy. 8txrower sha11 be given one conforr~ed copy'of therNote and of thi5 Security" Instrument
T 1't: ~7snnsfec'6"~ik~~Pi~(>pe?t~i~difr~ Bbnefid~ Interest ifi ~otower. :If al(or any pa'rt~01 the Prpperty or ~ny inte?est in i! is . ~
sold or translerred (or N 8 benetici~t inte~eSt ir~ Bo~'row~r is scsld bt transf~red and
Borrower is not a'natur~l ~son) without L~nder's
pnor written ~nse~i. Lender may. at ds opiion: reqU~e immediate paym~n! in futt of all sums set~re(i by tt~s Security lnstrument:
Hawever: this c~ptibr~ shall noi be''exer~~sed by L~nd~r it exerGS~ is prOhibited by"fed~r'81 law as ol ths'd8fe bf"this' Security '
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II L~t~der`exercises fh~ option, Lender shal~ give Bara~vct't~otice ot aGce~er~tion`7he nosice sha~~ provide a p~riod ot not
~ lnst~iiment' Ii Bortower fa~ts to pa e notice is de~ivered oi mailerl within wh+ch' Borrower must pay aI! sums secured ay this Security
les5 than 3Q tiays lrcxn the date ttiese Sums ~rior to the ~xpir~lion ei tt~is period. Lender'may invoke any remedies oerm~tted by ~
~ th?s.Security fnstrurnent without tuhher notice o! demand on`BbrrowEV. "
"18. BorYOwer's qlqht td"~ielnstate. ff Barrower meeis certain cond+tions.`Barowef Shatl' have ihe•.r+gM to`h~ve
~ enbrcement ~t this Secu~iiylnstrument d+scorq~nued a! any time p~ior tothe egrlier oi: (a) 5days~~such'other periad as applicable
law may spec~fy tor reinstatementy betore sale oilhe Pr~bperty pursuanf tb ~ny pbwer ot sale containetf irt ttus Security Instrument; ~
~ or (b) entry crf a ~udgment enfbrcing this Security`InstrUm~nt Those con~itlons ~ire"thfif Ba'rowe(' fa) pays Lender al1 sums which '
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th~ri Would be due under this Security tnstrument and the Note h8d no aCCeteration ~CCilif6d; (b) cures any detauft ol ~ny olher
Covenants or agreF;m~ts, (c}_ pays ali expen~es inCUrrcrd in eMarcing this Security lns(rumer?t, inc~uding. but nd timited to.
~ ~easonable attorney's tees; and (d) takc~s such~ act+on as Lentler ma~'reasonably req~ire to assure that "the li~n o! tFus Security
tnstrument, lender's rights in the Prtip.wty and 8orrower's ebltgabon to pay thc surins secured by this Security Instrument s~aH ~
cont~nue unchanged '°Upon `rQinstat~men! by 8brrower, ihis S~curity tnstrumer?t and the obtigatibns secured h~eby shall remain
fulfy eifect?ve as if no acceleretlon had occurred Hawever.'tN~s righl ta rein5tet~shall nbt ~ppty in the'c~se ot acce~eration und~
----~ragtaphs 13 br 17. . " -
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Re~wu. ear,a, a.iu+ e. m.r w wce ae~ p« sw ~~ea¢~ Pc
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