HomeMy WebLinkAbout0917 If I_en~er rcyuirai mortgage insuran.e as a cundu~on ~tif mal,~ng thr I~~an ~c~urca hy ihiS Scrunt~ In~trumrnt,
t3urrower shail pay the prcmiums rcywrcd to ~naintain thc rosurancc in cfTrcl uriul wch umc a~ thr rrywr~mrn~ f~~r ~hr
insurance tcrm~natcs ~n accordance Nith tk~rruwer'~ and l.ender's wnt~tn ~grremrnt ur applic~blr law
9. Inspettion. Lcnder or ~ts agcnt may makc rcasonablc entnts u~m and ~n+~t~um ~~f thr Pru~~rrt~ I rn~1r~
shall g~~•e Borrower nohce at the t~mc uf ur ~n~~r tu an ins~tiun ~~~f} ir~g rra«m~hle rsuu fur 1hr im~ccti~~n
9, Condemnation. ~Thc pnx~c:iti uf any~ award ur clairn f~~r damaRrti. d~rrr~ ~~r c~~ii~ryurniial, in «snnr~uun w~th
any condemnaUon or other taking uf any part ~~f thr YruExrt~~, ~~r for :~~n~e~an:r ~n liru rd re~nJrmna~wn, 3rr hrrrh~
ass~gncd and shall be paid to Lendrr.
In the evrnt of a to!a! tak~ng uf thr ~'ruprrty, the pnx•rr~s tih~ll tx ap~lieJ tu thr w~n~ ~rrurccf hy thi~ Sr:uri~~
Ins~rumtnt, w•hether or not then due, wrth any c~rrt~ paid tu B~~rruwrr In the r~rn~ i~l ~ p:~rual t~king ~~f Ihe Pruprrty.
unlcss Borrowcr and 1_ender otherw~x agrce ~n wnnng, thr ~ums ~ri ured b~ this Srcunty In~trumrnt ~haii tx rrdu~rci i>~
the amount of the proceeds multiplic~l by ~he ~'oll~~wing fractum (a) the t~~tal amuunt i~f the tiums ucurrd ~mmrdi~trl~
txfurc the tak~ng, d~vtded by (b) the fair markct ~~alur i~f the Preiprrt} immrJi~trly brfurc thr taking An~ halanrr ~h:~ll t~r
pa~d to Borrower
if the Pruperty ~s abanduned by &~rruwer, or it, after ni~t~ce by Lrnder te, H~~rr~~v?rr that thr r~m~irmnur ~~fTer~
make an aw~ard or settle a cla~m far damages, Fiorrower fa~l~ to raFx>nd to l.endrr uittun z~~ d:,y~, afier thr ~atr the nuti~r
g~~en, l.ender is authonzed to coliect and apply the pr~xerds, at its upuun, rithrr Ic~ rc~t~~ratum ~~r rrpair c~f ihe Pr~~prrty ur ;
to ehc sums secured b}° this Secunty lnstrumcnt, vvhethcr e~t nut thrn due
Unias Lender and He~rrower otherw~se agrte ~n wru~ng, any appl?cau~~n ~~f ~nx•rrd~ tu pnncipa! ~hall n~~t rx~rnd ~~r
st ne the due date of tht monthl ments referred te~ ~n ara ra hs 1 and 2 ur chan c thc ami~un~ c~f,u~h d ment~ ~
f~ P~ Y PaY P 8 P 8 P~ Y
10. Borrower Vot Released; Forbcuaoce By lxnder tiot a N'airer. F.xtemion ~~f thr t~me f~~r pa~mrnt ~~r
mcxi~ficatian of amoruzation of the sums cecured b~• !h~s Secunty Intitrument grantrd by Lendrr tu an~ suc~e~tii~r in
~nterest of Eiorrower shall not ojxrate to reicax thc I~ab~hty of the ong~nal E3arruv?rr ~~r !3c>rruwer's tiu~rr~xirti in intcrr~t
L.ender shall not be reqwred to commence prcxeedings aga~nst any su~cesu?r in ~ntrrrtit +x rrfux t~~ rxtend Ume fe~r
payment or othenv~se mud~fy amortizatwn of the sums ~ured b}• this Seeur~i~ IrS,rumrnt hy rr:~u~r~ of any demand madr
by the onginal Horrow~er or Borrower's succesion in interest. Any forhearance by LrnJrr in exrrrising any nght c~r remed~
shall not be a wa~~er of or preclude the extrcise of any nght or remedy.
I1. ~uecesson and Assiqns Bound; Joint and Sevtrzl L'tability; Casi~ners. Thr rcwenant~ end a~rrements of
this Secunty Instrument shai) b~nd and benefit the successors and ass~gns of Lender and ts~~~ re~w•er, ,uh~crt t~~ the pror~su>n~
of paragraph 17. t~rrower's cavcnants and agrrtmcnts shall be~o~nt anc! tie~rral An} B~irrc~wrr wh~~ co-~?gr.ti tius ~uri~~
Instrument but does not execute the tiote (a) ~s cc>-signing thtti ~unt~ In~trument cinly t~? murtgage, grant and con~r~
that Borrowcr's ~nterest m the Property w~dcr the termt c~f this Srrunt~ intitrumrnt. Ibl is not Exrwnaliy i?bi~gatrcl to ~tia~
the sums secureef by th~s Je~unt~ imtrumrnt; ~tnd Ir1 agrec~ that Len~ler and an~ ~~thrr is~~rruwrr tna~ agtc~ iu cxicnu,
moclify, forbtar ~~r make an} acc~~mmcxiatum~ yith reg:~rd t~~ thr ~erm~ ~~f thi~ Srrunt} instrumrnt i~r the tiute withe~ut
that Borrov?er'ti ionsrnt. ~
12. I,oan Charges. If the I~~an ~ecured h~ thi~ Srrurit~ Imtrume~it >uhj~rt ti~ a IaN v?hich ut~ max~m~m I~~an
~harges, and that !aw ~s finally interpretrd u~ that the intrrc~t c~r ;~thrr luan chargr, re~ll~ctcd ix he reslireted in
connecuon wuh the loan exceeci the permittrd hmu~, then (a) am wrh Ie,an ~h~rgr ~halt tx rrducrd b} the amuunt
ncccssar} to rrelu~e tht ~h~rge to !he perm~tted l~mit, 3n~i (h) an~ ~umti airead~ ~~~Ilctitrd frc~~n 1ic~rruwer which cx~eedrei
permutc~i limnt Nill Fx rctunded t~ &~rror?er [.ender ma~ chix~e I~~ makc thi~ rrfund h~ rrdu~in~ thc ~nnr~pal c~wed
ur,der the tiote or b}• making a dircct pa}mcnt te~ E3~~rn~wer ICa rrlund rrducr~ ~nnii~sl, thr rr~luitum wil{ hr trcatrd a` a
part~al prepayment with~fut :~ny prepay~ment LharKe undrr the ti~~tr
13. [xgislation Af~eetinq I.ender's RiRhts. If enactmrnt ~~r r~~~r;~ti~m +~f a~~lir~hlr !au~ h„ thr rtTrct ~:f
rendenng an~ pro~~t~on of the tiote c~r Ihn SCCVr~t) Imtrumrnt unenft~f~rahlr :~iiur~t~n~ t~~ iE5 irrm~, l.rn~ler, af it~ i~~Uein.
' ma~ reyu~re ~mmediate ~a}mrnt in fuil ~~f all ~um~ ~r~urrel h~ Ihi~ Sriurit~ In~tr«n~rnt ~n~f may in~~~kc an~ rrmr~li:ti
~ perrnuted h~ paragta~t? lU tf Lender crcr:i.r~ thi~ u~u~~n. I en~lrr tih~ll (akr thr ~te~~ ~~xr~tic~1 in thr tirr~md ~~ara~ta~~h ~ff ~
! ~aragra~h 1? {
~ 14. \olicet. An} nut~rr t~~ I~(l~f(!Kl'f ~(n~IJC(I I~,r in Ihi, Sr.u!it~ Irstitr~irnreit .h.+!! ?x• Fnrn hy ~rli~rnnR it ur h}
rT;ail~ng it bt fr~t cia~ti ma~l unir~ti a(~pl~.ahlr i~w rryu~rr~ u~r ~~f an~+thrr rnrth•~.1 ihr n~~ti~r ~hall Fk ~firr~Ir~1 ~i~ shr
~ !'ruprrty Aclilret~ ~~r an~ uthrr .sdcirr,~ i~xr~;wrr ~7rtii~natr~ h~ ~~~~t~:r I rnclrr An~ n~~ti.r t~~ LrnJrr ~hell hr Knrn h~
i
tir~t riat~ tnail t;, Leriirr'~ adJrrtiti.tat~d hrrrir, ,~r ari~ ;•ttirr .s;l.irr.~ l ru~lrr ~lr.ikn.+tr. h~ n,~!i.r t„ f~„rrnwrr An~ nusi~r
f ~,rc,~i~ied for in thi, Sr~unty ln,trumrnt ~hel! hr :lrr:ne.1 t;, 1:.i~:• tY•rr~ ~i~cn t~, fi~~rr<,wrr ~,r 1 rri~lrr whrn F~~rn a~ ~n,~u1~d ~
;ri thiti ~araKra~h
; 15. GoverreinR Lav~; Sererabilit~. Ih,~ ~r•_ur~I~ In~truntrnt ,h,~ll t.c ~,~~rrnc:f h~ (c~lrr.i! lew and thr law ~~f thr
^ tun~d~ctiun m whirh the Pru~rrt} i~ L+.:~trc; I~~ thr r~rnt th~; en~ ~r:+~;~~;;n ;,r .1.~u,r ~~f thi. ~r~urit~ In.trumrn~ ;,r thr
< <c,~r ~~~nfli~t~ µith a, ~ii~able lsw. 1ur1: ;~~n~l;, t.hall n~,[ .~tTr~t ~,ther G-~r~~~i~u~n..~( th~, ~r:ur~~~ Intitrurnrr,t ~~r ~he \~,t,.
~ w;tt~h ~an he g?~cn rfiect with~~ut tttr ~nnfli~t;;,~ ~~r;,~i~i;~i; i~, ch,. rr.~i ~h~• ~r,,tii~i„rti c~f ~hn Sc.unt~ I~ititrum~ni ari.1 thr ~
. ~
~ 1~rtr are ur. ~:irrcf t~~ ~~r ~r~rrahli '
F 16. (iorrower's (~opy. f3c,rrc~ker .'ti.iil hc Ki~rn ~:~nr r:,nf„rrrtr:i ~~<<~~ ,~f tP;c \~~tr :+nit ~~f ttu~ 1~,unt~ in~trumr~~~ ~
~ 17. 7ram(cr of the Property or a f3eneficiai Interest in tiorrower. If all ~~i ,?n~ ~sn uf thr f'r~~~rr~. ~~r eri~
~ntere.t in tt :ti u~le~ c~r tran5ferrrd ter il a hrrirli~i~l intete~~ m 13~~rt~~wer :ti .~+Ie1 r~r trsr~.frrrrcl an~i l3<~rruwrr nut a naeur,~l ~
t ~~crwn~ w~thuu~ Lrn~er'. pnur wntten ~~~n~ent. l er,~er n:a~. at it, ~~~n~m. rrc;uirr immr;f~ete ~:~~rnrnt ~n (ui1 ~~t all ~um~ i
~
tic,ureu h~ ;h~5 5e~unt} intitrum~n~ H~~ur~rr ttu~ ~~rn~m ~h.,l~ ~i;~1 fi~r r~cr_~~.,:f h~ 1 rn_!er if rxrr~nr i. ~r~~hih;tr~1 h~
` fc~7era1 !.~W ati ~~t thc datr uf thi~ ~unt~ Intitrurntni
It I rr:~irr e~er~~tes ?hiti c~~±ti~~ri. Lr~i: cr tihall g~:e E~:~rr~~urr n~~t~~r .~f .~~.rie~ati~~n ! he n+~ti,r ~h.~ll G~r~~~i~ir e~rn~Kl ~
~~f~n«t ie~~ than 10 days fre>m the ~iale ihe nutice isJcl~~rrtd ~+r maile~J uithin uhs~ h l3~~rrc~wrr rr.u~t F~.~~ ~um. ~r. urei7 h~
_ ;h~~ ~rc~:nty lm~r~.:me*~~ !f F3~~rr,~v,er i~~l~ t~~ ~a~ ±he~r 4umL ~,nE~r t~, thr rt~ir.~;s~,r~ n( ah~~ ~,rn,K1 I rr~Jcr ms~ in~~,i~r ~n~.
remed~e~ ncrmittcd b} ihi~ Srcunt~ In~trumcnt ui;~u~ut furthcr n~~u.r ~,r.i:ma^;1 ~~n fi~~ir~,W rr
18. Borrowrr's RiKht to Reinstate. If i3~~r:~iwcr meetti ~crtair~ <<~ndit::~n,. I3:~r!i~wrr .h.,l{ h.i~r shr nFht t~~ tia:c
,niorcement of lh~t Sec:urity Ir~Irumrnt di~i+~nt~nurtl at an~ iime ~r~~~r tn thr rarl~er ~~f ~~~a}~ ~~~r wc.h ~~ther ~rnc~
applicablt law may ~perif~ f~>r rein~tatemrnt? be(nre ,ak the Yr~~prrt} ~ur.uent eny ~x~NCr ;~f ,elr ta3nta!r~rc: in thi,
~ Secun[} Instrurr?ent, or (b) entry of a ~udgmc~t enfa~rcing thi~ Secunty Intitrumrnt I hn.e ~~~nJitinn~ arr th~t Bc~rn:wcr I
~ (a) fays Lender all sums which then wuuld tx due under thiti Securit~ ln~~rumrni and the ti~~tp had r~~, acccler:~u~m
~ cxcurrecl. (h? cutes any default of any ulher co~enanls or agrcements. i~i ~a}~ a{! r.x;xn~eti mcurred ~n cnf~~r;ing thi.
' _ ."fi" . . . _ . _ .
~ u~e,e. ii, ii~li(ut~trise SfYIl~SISFiI~. Hi~l ii,r~ t~~tict':iS ~t:, {ci~.,u._<<ie a:i~;:~~c)~, . -..~s. . . ,
reasonably rcyuirc t~~ assure that ~he licn of thit Scruntt Insttumcnt. LrnJer'c nghtti ~n thc F're~~crtr ai~d iiurrt~wcr ;
obl~gatwn to pa} tht ~umS ucural b~ th~~ Securit~ In~trumtnt ,hall ~c~niinue unchangrd l:~xm rcm~tatemrnt h~
Borrov?er, th~~ Sccunty Instrument and ~he ~~hliga~~ons Sccurcd hcrc~y tihall rcmain full~ cfTectnc a~ if n~+ accelcrauc,n had
- ~~c~rred H~~wrer, this nght to re~nstate ~hal: not ap~ly m thc ~au ~~f accclcrati~m undrr ~aragrapt~• I 3 tir 1'
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