HomeMy WebLinkAbout1463 I3orr+ower taik to respond to Lendet ~vithin 30 days atter tde date the notics ic given, Leader is autdociud to cdkct and appiy tlx procceds, at iu option, eitMr to
restontioa or repair of t~e Property or to t6e cums secured by this Saurity Uutiumeat, wfiether or not then due.
Uaktt l,ender and Bono~rer otAenviie agree in wrritiaa, any apptiation o[ procecdc to principal clsall not eutend or poctpone the due date of the monthly
payments referrcd to in pangap6s 1 aod 2 or chanae tbe aa~ouat of eucl~ Qaymcats.
1~ Borrower Na Rekasedi Forbeara.ee B~ Le~der Na s Waher. Fatencion o[ t!x tim~ for payment or modifiatioa of amortiration of tbe tuu~ acured by
th;s Socurity Inetrument aranted by Lend~r to any succttsor in interut o[ Borrow~er shall not operate to rekace t6e tiabiliry o[ tde ori~ioal Borrow~er or Bocrower's
su.~cators iu ieterest.
Lender ihall not be requirod to canmeea Procseding syiinst any suceessor iu interat or refua w extcnd time for payment or ahenvise modify amortpatioe
oE the sums secured by this Securiry lastrument by e~eaion of aay demand msde by the original Horro~er or Borrowe~s cuoceuoa ia intereu. Any to~bearance by
LenOer uf eperci:in= any rid?t or remedy sbW not be a~vaioer o( or preNude the ezercize o[ any rijht or remedy.
iL s.eeeasors a.a ~ss~s so..a; ,~o~ a~d Sr~enl Wbi1My; Co,sipers. 'Iae mvenants and agreemeats ot this Socurity Inct~unxat sdaU Diad and benefit the
succes~oa and assi~nc of l,ender aed BorYO~er. tubjec~ to tAe provisans of para~raph 17. Borro~e~'s cwcnants and a~reements shall be joint and ~evenl. Any
E3orro~er ~vho co-eigns this Secutity Iauiument but doa not e~ecute tbe Nota (a) u oo{igning tAic Serurity lnuiumeet oaty W mort~c. graat and ooevey that
Borra~rer's intecat in tde property under the termc ot thie Security Instrument; (b) is na personally obGgtted to pay tde sums securcd by this Security Instrument
and (c) a~recs that Lender and any other Bonower may a~ree to extced, modify, foibear or make any accommodatioos w~itd reg~u~d to the tenns of this Sccurity
Instrument or the Note wit6out that Borrorer's cn~ueat.
12. Loa. etiar~es u we ban securea by cdis sauricy lnnn,meoc is wbjecc eo a taw wfiich uts marimum ~oan cnarga, ana ceac taw~ is rnauy inceipretod w ehac
the intcrat or other loan char~a edkctod or to be colkcted in conncctioo with the Ioan exceed the permitted limits, then: (a) aey wc6loan charge chaU be rcduoed
by t6e amount necescary to reduce tl~e charge to the permined limit; aad (b) any sums already colkcted [rom Borraaer wfiich ewceeded permitted limitt w~ill be
refueded to Borm~ver. Lender may chooee to malce thie re[und by reducina the principal ared under the Note or by mabna a diisct payn~cat to Borro~or. lt a
refund reduces principal~ the reduction w~iU be treated as a P~~ P~Y~nt w~it6out anY PnWY~~t charfe uoder the I3ote.
13. [weiai~tb~ A~eH~ Le~dtls Rt~lta ff ceacta~eet or expintioa of applicabk law~s has t6e e[fect o[ reoderin= aey p~w~ioo o[ the Note or this Security
Instrumeat uaenforaeabk aooordiog to its terms, Le~der, at its option, may roquire imexdiate paymeat in fuU ot atl wm~ eecurod by this Security L~stiument and
may iawke any remedies permitt~d by p~ragiap619. U Lendcr excrcises thic optan, Leader shall take t6e stepc speci6ed in tbe seoond pangraph of paragraph 17.
11. NotL•es. Aey notiee to Boreoaer prwided tor in this Securiry inueument clull be given by delivering it or by auiling it by fiat claic mait unkts appliabk
law requires use ot aiwther met6od. Tl~e notice sball be dirccted to the P~opecty Address or any o16er addras Borrowtir daignates by naice to l.eeder. My eotia
to Lender :hall be givea by first dase mail to Leade~s addrcss suted hereie or any a!?er addras Lender daigaata by eotice to Horrower. Any notice provided
!or in this Security Inurument sbaU be dcemod to Eiave been given to Borrawer or Leeder wfieo given as pravidcd in this pzragraph.
17~ Co~enio~ law'i Se+erabilit7. Tlti~ Securiry laurument shall be ~o+~erned by federal Lw~ and the law of the juriadictioa in ~vhic6 the Property ic bcated. In
t he cv~ent that any p~wision or ctaute ot t6is Security Inuiumeet or the Note coatlicts w~ith applicabk law, such eonQict shall not afiect other provisions of t6is Security
Instrument or t6e Note wrhich can be given effcet ~vithout tde ooaAicting provision. To this end the provisioos of thie Security Inctiumeet aod tlx Note are declared
co be severabk.
lf. Borrower'a Coq. Borrow~er rhall be 6iven ooe conlormed coQy of t6e Note and of this Savrity Instroment.
17.1~fas[er of tre P~~pert~ or a BerefrLl I~teresR i~ Borrower. If tll or aay part of tbe Property or any interest in it is sdd or transferrcd (or if a beneficial
interest in Boriv~er is sold or transferred and BonuMer is not a natural pe~soa) without Lendtr's prior written conseet, Leader may, at its option, requirt immed"ute
payroeat ie full of alt sums secured by this Security Instrumcnt. Hoarever, this optiue s6a11 not be exercised by Lertder if exercis~ is pt+ohibited by federal laa as of
che date of this Security Instroment.
If Lender ezerci~es t6is option, Lendcr chall geve Borro~w:r w icr ^.f aocekntion. 'Ilu notice shall provide a period o( not kss than 30 days [rom the date t!x
noticc ie delivered or maikd witAin wfiicd Borrower must pay all wms secured by this Security Iastrument_ [f Borrawer (ails to pay tbae sums prior to the expiration
of th'ss period~ Lender may inwke aey remedies permitt~d by this Security Instrument without further notice or demand on Borrower.
j 18. Borrowa's Right te Reiwstata If Bor~oMer mests certaim m~ditionc, Borraaer s6a11 have the rig6t to 6ave enfotoemeet of this Security Intuument
t
` sLccontlnued at any time prior to dx earlier o(: (a) S days (or wcb aher period ac applicabk law may specify for reiesutement) Aeton sale of t6e Properiy purswnt
~ to any pow~er of sak cootained ia thic Sccurity Instromen~ or (b) entry of a jud~ement enforcing this Security tasirumenG 'Ibose cooditioos are that BorraMer. (a)
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~ pays I.eadcr all sums wfiich tben would be due uAder this Security Inctrument and the IVote had no accekration oocurisd; (b) curas any default of aey ot6er mNCnants
~ or agreemeets; (e) pays all expensu incurrod in eaforcieg this Security Instroment, including, but not limited to, reasooabk attocneys' fee~ and (d) taka cuc6 setion
as Lender may rcacoeably roquin to siwre that tbe liea of this Sccuriry lestrument, Leode~s rights in the Pmperty and Bonowe~s obligptiou to pay the sums ucured
~ by this Security lnctrument shall oootinue unchanged. Upon rciastatement by Borrower, this Security L~strument and the ablig~tiooe secured hereby sha!! remain
fuliy c[fectivo as if ao accckratioo had occurred. Haaev~er, this right to reinstatc shall not apply in the case of accekration under paragrephs 13 or 17.
NON-UMFORM COVFNAM'S. Bonvwer aad L.ender further mvenant and agree as folfows:
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~ 1!. Acceieratbr, Rea~ediea Le~der si~U Si.e wotiee to Borrower prbr to accskrstioa toliowin` Borrower's bresc~ of sq ca~ewt or q~ewt L tLls Secoriry
I nser..~~t (iwt ..t prior a a~akratio...aer prr,~npMs 13 aa~ 17..kss y~pliabk lav pra.ida a~e~wise). T~e .aiee ,i.u ~ee~s tre aeta.k; (b) cre aecio.
requlrsd t~ t~rt t~t dtfMYi (t) ~ date, ~wf kss tlw 3~ dqs tm~ tLe dafe t~e ~ofite h prc~ to Borrower, b~ wY~r~ tl~e defaoit ~wst !e t~ec~ a~d trat tail~re
~ to etire trt delwk e~ et MWr tMe iate spetlfiei i~ tre ~otite ~ rts~N L aecekntb~ of tbt s~s see~»d 67 t~s See~rit7 Iw~e~f+ /orecio~K 67 j~dicial
~ proceedi~ aed sak o( tlre h+opert~. 17~e ~otiee sha0 ilrrtYer Lior~ Borrower ot tre ~g6t to reiastate after sccekrstio~ aad tl~e ritW to ssseK i~ tre foredos~re
~ Froeeedi~ ti~e ~ssWsaa of a ietaolt or a~q otl~ aefs~e ot Borrawer to sceskrdiow awd torsclos~rs. tt tbe de[wk is ~ot e~nd o~ or ~efore tlie date spec'died
in t~e ~otks, l.e~Aer at ks optio~ wq req~lre iw~ediate pt,~we~t i~ tnll oI dl s~s secered bq this Seerrit~ I~strwred wit~o~t t~riber de~a~d awd ~up foreeioee
~ tkis s«.~ i~an..~ b i~+~~+ ~i.s. i.~.a~r ~.u e. ~.ea~a ~o ~u«e ~u ~~a ~rw~ ~ ~.iaea ~.~i v,
i.netwlL~, b.e .oe ua~itsa w~ rssw.awe snor.e~:' t~es sw~ costs ot cMk evide.ce.
2i. Lerder L Possessi~w. Upon scoekratioo under paragraph 19 or abandonment of the Praperty, Lender (by judicially appointed receiver) shall be entitkd to
enter upoo, take po~sueioe of and manaao the Properry aad to edkct tde renta of the Property inctuding those paat due. Rny reats cotlected by Lender or tbe
roceiver:6aU be applied first W p~ymeot of tEe ca~ets of managemee~ of t}x Property and colkction of nnts, inciuding, but not limited to, reoeiver's fea, premiums
un rcoeive~s bonds and reawnabk attorneys' kes, aud tbee W t6e wms sccured by ~his Security LWrument.
2L Rekssa Upon paymeat ot atl sums acured by this Security Inurument, Lender shall release this Security Inun?ment w~i?hout c6arge to Borroaer. Borraaer
~ shall p~y any tsco[datioe msts.
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~ 22. Attorweys' Fea. As uKd in this Securiry Inetruexet and the Note, •attoreeys' fees' shall ieclude aey attorneye' fas awarbed by an appellate oourt.
~ 23. itWsrs to tYis SecsritT Iw~tnie~t. lf oae or more ride~s are ezecutrA by Borrower and recorded together ~vith thi~ Security lou:uaxat, the oovenants and
agruoxett of eub tuc6 rider shall be inoorporatod 'wto and chall amend and cuppkmeet the oo~eaaats and agreements of thit Security Instrument at if the rider(t)
~ wrre a part of this Sesuriry IustrumenG
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