HomeMy WebLinkAbout0965 In Uie event u) a tot.il tak~ny of ihe Prupt•ity Ihe proceeds Shdll be a~i{~lietl tu the suins s~r1curied by lti~ti 5i~cu,.~ ily InsUuin~•nl
wiurther ur not lhen due wilh any excess ~~did lo Burrower In !he evei~t ol a par~~al taking u~ [f1rYr(~~~~rly unle~5 B<<rr~w~~r ,~n4
t rniler otherwise ayrec~ ~n wr~Uny the sums secu~ed by ihis Secur~ty Insirument shall be rr.duced by the amount of the prcx:e~ed5
~nuli~pl~ed by Ihe follow~ny fract~on (a) t1~e to:al arnounl uf Ihe sums secured ~mmed~atwly beiore the ~ak~ny. div~ded b~ Ibl tht• ta~r
n~,iri~el value of the Propr.~ry ~minediatr.fy tx~fore the taking Any balance s1iaU be paid to Borrower
If the Property is abandoned by Borrower, or if. atter not~ce by Lender to Borrower that the condemnor olfers io make an awarA
ur s~~tUe a claim loi damayes. Borrower la~ls to respond to lender w~thi~ 30 days after Ihe data the nulic.e is given Lender ~s
<iuthonred io coliect and apply the proceeds. at ~ts opt~on. eUher to restural~on or repau of the Property or to the sums secured by th~s
Secur~ty inslrument, whether or not then ifue
Unless Lender and Borrowar otherw~se agree in wr~l~ng, any appl~cation of proceeds to princ~pal shall not extend or postpone
U~e due date ol the inon~hly paymems referred to ~n paragraphs i and 2 or change the amoum ot such payments
10. Borrower Not Released; Forbearance By Lender Not • Waiver. Extension ot the t~me lor paymen! o~ mod~!~Calion o)
.~nwrt~rat~on ot the sums secured by this Securiiy Instrument yranted by Lender to any sucCessor ~n ~nte~est of Borrower shall not
~~perate to release ~he I~ab~trty ot the ong~nal Borrower or Borrower's successars ~n ~meresl Lender sha~l not be requ~red tu
curnmence proceedings aya~nst any successor m ~nterest or refuse to eztend t~me for payment or otherwise mod~fy amorUrat~on of
the sums secured by this Secunty Instrumen! by reason of any demand made by the original ~orrower or Borrower's successors m
~nterest Any forbearance by Lender ~n rxercismy any nght or remedy shall not be a wawer ot or preclude the eaerc~se of any nghi or
r c•rnedy
11. Successors and Assigns Bound: Joint and Several Liab~lity: Co•s~gners. The covenants and ayree~Tients ot th~s
Se~currty Instrurnent shall b~nd and beneht the successors and assigns ot Lender anci Borrower sub~ect lo the prov~s~o~s at paragraph
S 7 Borrower's covenants and agreements shall be ~o~nt and several Any Borrower wha co signs th~s Secunty InsUument but does
nut cr,cecute the Note (a) ~s co sign~ny th~s SecurNy Instrument only to mortgage, yrant and convey that 3orrovrer s+nterest :n the
Property under the terms uf th~s Security Inslrument. (b) ~s not pers~nally obligated to pay Ihe sums secured by this Secunty
tnstrumern, and (c) agrees that lender and any other Borrower may agree to eatend. modify. forbear or make any accommcxiat~ons
w~th regard to the terms of th~s Secur~ty Instrument or the Note w~thout that Borrower~s consent
12. Loan Charges. If the foan secured by tti~s Secur;ly Instrument is sub~ect to a law which sets max~mum ioan C~~aryes and
~h,,t law ~s fmally interpreted so Iha1 the mterest or other loan charges collected ar to be collected m cunnect~on w~th the loan exceed
tnc• perrmtted I~m~ts. then (a) any such loan charye shall be reduced by the amount necessary to reduce ihe charge to the pern~itted
I~rn~t and (b) any sums alrea~y eollected from Borrower wh~ch exceeded pe~ m~tted limrts will be refunded to Borrower lender may
~ hu.~se lo make this refund by reduc~ng the principal owed under ;he Note or by niak~ng a direct payment to BUrrower It a retund
~~•duces pnnc~pai. the reduct~on w~ll be trea,ed <~s a part~al prepayrnent w~thout any prepaymenl charge under the Nate
13. Legi~let~on Affecting Lender's Reghts. If enactment or espirat~on ot appl~cable faws has the elfect of render~ng any
;:rcwis~on of the Note or this Secunty Inslrumenl unenforceable accord~ng to ~ts terms. Lender at ~ts op~~on. may reqwre ~mrned~ate
,~,,Yn,ent ~n tull of aIl sums secured by th~s Secunty Instri~ment and may ~nvoke any remed~es perrn~ttNd Dy parayraph 19 II Lender
~~.rr~:~ses this option, Lender shall take the steps spec~hed ~n the second paragraph ot paragraph 1 7
14. Notices. Any noUCe to Borrower ~rov~ded tur in th~s Secur,ty Instrument shall be grven by del~ver~ny it or hy mail~ny ~t bv
+:r,t class mail unless appl~cable law requ~res use ot another method Thr. not~ce shall be d~rected to Ihe Property Address o~ any
~ir,c~r address Borrower Aes~ynates by nahce to Lende~ Any not~ce to lender shall be y~ven by t~rst c~d55 rni.t tU Lendpr s addres5
- i,+ted here~n or any other address Lender des~ynates by nuhce tu Borrower Any not~ce prov~cfed tur ~n th~~ Secur~ty Instrur.ient shatl
t.~ deemed to have beer~ yiven to Borrower o? lender whrn g~ven as prov~ded ~n th~s paragraph
15. Governing law: 5everability. Th~s Secunty Instrument shall be yoverned by federal Iaw and the law of ti~e ~un~d~ct~un ~n
wruch the Property i5 lOCated Ihe evr.nt that an~ prov!s~un or clause u1 fhi~ Secunty Instrument u~ Uie Note conflicts witt~
,it~pl~cable law Su~h Conflict S~~all not 31teCt other provi5wns of tt~is Secunt~ Instrument or !hp Note whiCh can be g~ven rtteCt
v.~thout the cnnfl~cting prov~s~on To t1~~s end Ihe p~ov~srons ot Ih~s S~~curity Inshurnent and Ihe NotN arc~ declared to be severvble
i 16 Borrowe~"s Copy. Borrower shall tx y~ven on~ conlormed copy the NotN and of Ih~s Secur~ty Insltument
' 17. Transfe? of the Property or a 8enef~cial Interest ~n Borrower II ell or .~ny part i~f t!~e Prc~pertv or any ~nterest ~n ~t ~s svid
i
transferred (or ~t a be«ehc~at imerrst ~n Banower ~s sold o~ transtrrred a^d Borrowc•! ~s no! d ndlur~l pt•rso~l w+lhvut Lender 5
i ~~~r wr~tten consem le~~der may at iIS opt~on rEqu~re ~mrnedidte ~~ayrient ~n }utI c,f a{! 5um5 sec ured by th~s Srtur~ty Ins(~u!nent
E '~~~wcvBr this optior. shall not be t•xercised Gv Lender i! pxt~r~~ye ~s ~ru!~~b:ted bY frde~ral !aw s5 ot i~:e da[P ot ttii5 Secur~ty InSlrumrnt
11 Lender c'XE~rC~SES ihi5 Opl~O~f Lendc~r shaU g~ve• Bor.ower nnhce~ ot ai:ct~ler,it,c~~~ Thc• not~ce sh~ill pruv+de d pPnptl O} r~Ut les5
E :,.tn 3O AdyS f~L~t thP ddtt• ihe not~ce ~s Arlivt~~ed or ma~t~•d w~th~n wt:~~li Borrc~wrr ~nu5t i~a~ ~If ti~:rns Sec:,rrd t~~ thi5 Secuntt
z
k ::trurnenl I} BOrrower la~ls to pay thc•se sun~5 pnor 10 t~tie~ tRpuat~un u} Ih~s ~irr~~.,A LE•~d~~r ma~ ~nvuAf~ any rernt~d~es pE~!T~~TIE'O hy' E
~ '~~s Secu?~ty tnstrument wilhtru[ fur(her nut~ce or df~rnar~d un Burrowc~r
~ ~ 8 BOfIOWC/'s Right to Re+nstate f3cirri>WPr mt•e[5 Cr~rl,l~!~ Ci~:~d~t~~»~ BurrUwf~r tihd:l hdvr• i'~e r~ght to t~arc~ ~'~tfut~ t-mE•tN
F ' e'i~s Secur~t~• InStrumPM di5c~ni+m,c~d at .in~ t~me pr~or tn tt,e rdr;~c•r uf Ia~ 5 driys ~ur suct~ othrr prr,oU ,fs .~ppi~c,iblF~ law rn.,y
't
~ ~,r~cify to~ re~nstaternent! betote sale of the Prup~•rty pu~sunnt tc~ an~ puwe~r i~f ti~l~~ c;~nle+r;rd ~n t!us SeCUril~ InSUumrn2 ur th~ f~ntry •
~ ~ ~udgme~t e~lorc;~ny th~s Secur~t~ Inslrurnc~nt TtioSt> Condit:unti dre t~~:it Be~ni~wt~~ ~a! pdy5 lc~~dPr all SumS sJh~~h then wou~<1 b~•
!ue under !h~5 Secu~il~ ~nstrument and the Nott• f+ad no .iccwirr<it~u~~ uccurreA Ib! ciin~s nn~ Aetauli u~ ,jn~ Cthe{ CovF•n~niS Gr
~ ryree~nents. Ici pays all expt~ns~s ~ncurred +n rnfurc~ng Ihis Sc~cur~t~ Instrun~r•nt ~nctud~ng ~ut not Irm;ted to +t~ason,ible dt;urne•~s
~ '~~~s and (d) takes such act~on as lender may redson,ibly rrguirt• to assure that t!~e I~en ot !?~~5 Secur~ty Inytiumer~t ~endrr s~~yhts ~n
~'~e Property and Borruwer 5 ob~~yat~on to pt~y ttie sums sec~.+rrA by th~5 Secur~t~ In;trun~ent s'~a~l ~c:nt~ni,e unc!~anqr-d U~;c~~~
~ <<~;nstaternersl by Bo~rower th~s Secu~~tY Inslrument and tt,F uhl+yat~uns srcured hrrrti~ s~~a~~ ff~ma~n full~ t•ffect~v~~ a; ~f
~ = eteralion hdd OCCUrred However IhiS r~ghl Io rrir5!atc' Sh,ili nut appl~ irt !ht° cdsr• c~f aCCPlt~•al~~~n un~Jrr pd~.~g,d~;~:s 1 3 t„ f 7
~ NON UNIFORM COYENANTS Borrower anA Lenifc•r turi~~er cove~nant ar~d ayrt•e~ ds ~utlov~5
~ 19 Acceleration, Remed~es Lender shall g+ve noUCe to Borrower pnor to accelerat~on foilow~ng Borrower's breach of
~ any covenant or agreement ~n this Secunty Instrume~t (but not pr~or to acceierat~on under paragraphs 13 and 17 unless
~ applicable law prov~das otherw~se? Tha notice shall speafy. (a} the default, ~b) the achon requ~red to cwe the defaulL (c? a date.
? not less than 30 days from tha date the notice ~s given to Bo~rower. by wh~ch the default must be cured. and fd? that fa~lure to
cura the defsult on or beiore the date speaf~ed ~n the notice may re3ult ~n accelerat~on ot the sums secured by th~s Secunty
Instrument, foretlosure by ~uditibl proteed~ng anQ sale ot the Property The not~ce shal~ lurther inform 9orrower of the r~ght t~
re~nst~te aher accelerat~on end the right to assert ~n the foreclosurs proc~eAirtg the non ex~stence of a default ~r any other
setense o~ Borrower to accelaratia~ and foreclosure If the default is not cured on or before the date spec~f~ed ~n the notice.
lender at its opt~on may require immediate psyment in !u!1 0! atl sums secured by th~s Security Instrument without further .
dernand snd msy toreclosa this Secur~ty Instrument by ~ud~c~al proceed~ng Lr.nder shall be entitled to collect all expenses
~ncurred in purau~ng the r~med~es prov~ded ~n th~s paragraph 19. includ~ng. but not I~mited to reasonable atiorneys' tPes and
} costs of title ev+dence.
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20. Lender 1n POitefilon. Upon acceirr~t~c~n undNr S~~ iy i~. 19 ,~t,. , . ti
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~ ~pPO~nied reCeiver! Stz~ll bE ent~t!e4 to enlYr ~~pun t<iMN pustie~s~~ur uf ,tn~t ~ ~~t^:~u.• ,~.e, o;.~~,r~', . • , . • ~
~ Property vncluding Ihose pasl due Any rPnts cu!Ic>ctt•d b~ L e•nil~~r t~tit~ rr•r~. ti~ t,.. ,,c.;,: ~ . , . + . . , ,
= m~nagement of the Pro~erty and co~lect~or. of ~Pr1IS ir1Cl~:f~ifl(3 ~til! '~•~1 I!rt,.2r~7 . r~; ~ r . . • 1~
reasondble attotneys tees and then to t!~t• sur,s se•rurt~d bt t!:« 5e~c ~,~~t, in~!+:,~~~~~~"
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