HomeMy WebLinkAbout0142 lt L~•~i.lrr r~•yuirz~l ni~~nR:~~:r in,ur:ui~~ a. .1 r~,n~itni,n ~~f m.~king the luan .r~ur~d h~ thi~ Sr~unt} Intitrun~rnt,
li~~rr~,~~~~ .hall thc rrrinium. r~yu~rr~i tu meiintain thc i~~~urunre in etTe~t unti! ,u~h timc a~ thc reyu~remcnt ti,r th~
in,ur:~n:r trrn~in.~tr, in :~~rur~l:ince ith B~~rrr~~er'~ ,it?d l.rnder's H•ritten agreement ~~r a~rlic~ihle I.i~~.
K. Inspection. Lrn~ier ur it, agrnt ma~ make reas~in:ihle entries u~an and in~~«tiunti ~,f the ProFkrt~. l.cneler
,h:~li zn~ t3~,rr~,~~~r n~~tire at th~ t~mr ~~f ur pri~r tu an in~pertion ~perif~ ing re~,unahie c.iu,e f~,r thr inspe~ti~m.
9. (bndemnation. I h~ ~nkr~cl~ uf .in~ a~~ar~1 ur rla~m l~,r ~1.~muges. ~1ire.t ~~r rim~ryuenti.il, in c~mnr~uc~n ~iith
:~n~ ~~m~lrmnati.~n i?r utftc~ [ak?ng ~~t :~n~ part ut the Ympert~, ~~r fur ~un~r~~n~e in lieu ~~f cundrmnati~~n, arr hrr~h~
.t,.i~nc~l an~l ~hall hc ~a~d t~~ l.cncler.
In th< <~ent uf ;i t~~tcil t:?king ~~l the Yru~ert}, the ~rekee~ls tihall he ap~lied te~ the ~ums serured hy thic Secunt~
{~i,trument. ~~hether i~r n~~t thei~ ~fue, ~~ith an} exce,~ paid to Borrower. In the e~rnt of a p~rti~l t;~king of the Pru~rrt~~,
unl~., f3~,rm~?er and Lrnder ~~therN itie agree in ~~~riUng, the sums securrd b~~ this Se~urit~~ Instrument ~hall bc redured b~
the anu~unt e~f the ~mrr~ds multiplied by the foll~~w•ing fractiun: (a) the tutal amaunt ~~f thr sums serured immediateh
h~ti~rr the taking, di~ ided b~ (b) the t~air market ~~aluc of the Propert~~ immediatel~~ before the taking. An~~ balanre shall be
~.i~~l t~~ B~~rru~~rr.
li the Yra~ert~ i~ aband~~ned b~~ BorroH~er, ~~r if, :~fter notire b} Lender to Borro~~~er that the rondemnor ufi~ers to
niake ,?n aw:~rd ur.ettle a~laim fur damagc~, BorruK~er fails to respund to Lrnder w•ithin 30 da~~ti after thc date the notice is
~i~en, [.er~der is authurized to rollect and appl~~ the pnx:eeds, at its c~ption, either to restc~ration or repair of thc Yrupert~~ c~r
t~~ the ~um~ secured b}• this Securit~~ Instrument, whether or not then due.
l.'nle.~ Lender and Borrow~er otherw~ise agree in writing, any application of prcx~eeds to principal shall n~~t c xtend or
F~~~,t~une the due date of thr monthl~~ pa~~ments referred to in paragraph~ 1 and 2 or change the amount of such pa}~ments.
10. BorroK~er \ot Released; Forbearance By I.ender Not a~~'aiver. Extension of the time for paymrnt or
mudihration ~~f amortization of the sums secured by this Security Instrument granted b}~ Lender ro an~~ successor in
interest of Borrc~Her tihall not operate to release the liability of the original Borrower or Borrow~er's successors in interest.
Lender ~hall n~t be required to commence prcxeedings against an~• successor in interest or refuse to extend time for
ment c~r ~~theraitie modif~~ amortization of the sums secured by this Security Instrument b~~ reasun of an~~ demand maJe
h~ the c~riginal Borrow~er or Borro~•er's successors in interest. An~~ forbearanre by Lender in exercising an}~ right or remedy
,hall not t~ a~~ai~er of or preclude the exercise of any righi or remed}~.
11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The co~~enants and agreements of
t hi, Serurity Instrument Shall bind and benefit the successors and assigns of Lender and BorroN~er, subject to the pro~~isions
~~f p~r~graph 17. Borrow•er's co~~enants and ~~greements shall be joint and several. An}~ Borrow•er who co-signs this Securit}~
Instrument but does not execute the Note: (a) is co-signing this Security Instrument only~ to moetgage, grant and com~e~~
that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personallp obligated to pa}~
the sums serured b}• this Security Instrument; and (c) agrees that Lender and an}~ ather Borrow•er ma}~ agree to extend.
m~~dif}~, forbear or make an}~ accommodations w~ith regard to the terms of this Security Instrument or the Note w~ithout
that B<irrow~er'sconsent.
12. Loan Charges. [f the loan secured b}~ this Securit}~ Instrument is subject to a law which sets maximum loan
~harges, and that law~ is finally~ interpreted so that the interest or other loan charges collected or to be collected in
~~mnertion Hith the loan exceed the permitted limits, then: (a) any such loan charge sha11 be reduced b}~ the amount
neressan~ to reduce the charge to the permitted limit; and (b) an}~ sums atready collected from Borroaer which exceeded
~ermitted limits H~ill be refunded to Borrower. Lender may chcx~se to make this refund by~ reducing the principal ow~ed
u?idrr the I~'ote or b}~ making a direct payment to Borrower. If a refund reduces principai, the reduction will be treated ~s a
~artial prepayment without any prepayme~~t charge under [he Note.
13. Legislation Affecting I.ender's Rights. If enactment or expiratian of applicable law~s has the efiect of
rrndering an~ pro~~ision of the Note or this Security [nstrument unenforceable acrording to its terms, Lender, at its option,
rt~a~ reyuire immediate pa}~ment in full of all sums secured by~ this Securit~~ Instrument and may im~oke any remcdies
E~~rmitted b~ paragraph 19. !f Lender exercises this option, Lender shall take the steps specified in ihe sernnd paragraph of
,n~iragra~h 17.
14. \otices. .an}~ notice to Borrow~er pro~~ided for in this Securit}• Instrument shall be given by~ deli~~ering it or b~~
r~~~iling ~t by first class mail unless applicable law• requires use of another method. The notire shal! be directed to the
Pmpert~ Address or an}~ other address Borrower designates by notice to Lender. Any notice to Lender shall be gi~~en b}~
tir~t rlass mail tc~ Lender's address stated herein or an~~ other addresti Lender designates b}~ notice to Borroa•er. An~~ nc~tire
~rc~cided for in this Securit}~ Instrument shall t~e deemed to ha~e been given t~ Borrou~er c,r Lender H~hen given as pro~ided
in this paragraph.
15. Governing Iaw•; Severabilit~~. Thit Securit~~ Instrument shail be governed b}~ federal iaw and the lati~ of the
jurisdirtion in w~hich ihe Property~ i~ located. In the event that any provision or clause of this Security Instrument or the
tiute cc~nflicts «ith ap~licable law~, such conflirt shall not afiect other pra~itiions of thiti Serurit~~ Instrument c~r ihe Note
hi~h e:an be given efTert u•ith~ut the c~nflicting pmvi~icm. Tc~ this end the pm~~isions of thiti Serurit~ Instrument and the
\i,tc are declared tc~ be se~erable.
16. Borrower's Copy. Barrc~w~er shali be g~~en one rcm(~~rmed cc~~~ c~f the ;`c~te ~ind c~f thi~ Securit~ Ir~titrument.
17. Transfer of the Property~ or a Beneficial Interest in Borrower. If all ur an~ ~art ~~f the Pro~ert~ cir an~
intcretit in it iti x~ld c~r tr~mferred (c~r if a beneficia! interetit in E3~~rrc~wer is,c~ld cu tramferred and Bcirrc~wer is n~~t ~ natural
~erticm) ~~ith~~ut Lender'ti ~rior written ccrosent, Lender ma~, at itti ~~~ti~n, reyuire immediatr ~a~ment in f~~ll c~f all ,um~
.~rured h~ thi~ Serurit~ Instrument. Hc~He~er, this ~~ptii~n tihall nc~~ he rzer~itied b~ Lender if exer~itie i~ ~re~hihited h~
f~deril la~~ a< <~f the date c~f this Serurit~ Instrument.
[f Lender e.rerci~cti th~s e~~tie~n, I_rnder tihall gi~e Bc~: rs~wer n~~hce c~f ar~~lerat~c~n. ~The nc~hre tihall pr<i~ ide a~erii~~
~~t n~,i Ir.~ than 30 d~?y ti fr~~m the date the n~itire i~ delnered e~r nt;~iled «ithin w hich B~~rroaer mutit ~a}• ~+ll sumti tierured h~
thi, Securit~ Inctrument. If Be~rre~~~er failti te~ ~a} the~e tiumti ~ri~ir t~~ the e~piration of this ~eriod, I.ender ma~ inc~~kr an .
r~med~~~ ~crmitted h~ thiti Serurit~~ Instrument ~cith~ut further ncrtire<~rdemand on Borrc~wer.
1$. Borrower's RiQht to Reinstate. If Borrc+aer meets certain c~nditicros. B~rmHer tihall haee thr nght t~~ ha~~
~~nf~~r~rm~nt ~,f thi~ Serunt~ In~trument di~r~~ntinued at an} time ~ric~r tc~ the earlier c~f (at 5 d~+~ti (~~r ~uch ~~ihrr ~er~cid a~
.~~,~lirahlz la~~ m.it ti~ecif~ f~~r reintitatement) hefc~re ~ale c~f the Yr<,pert} ~unuarit tc~ an} ~~»ier ~~f tiale c<~ntaincd in thi~
S~cunn In,trurn~nt. ~~r (h) entr~ e~f a judgment enf~~rcing thi~ Securit} lntitrumrni. Th~~tie ~c~nditicm~ arr th:~t f3~~rrc~~~er
(aJ r.i" Lrncler all ~um~ ~~h~rh then would be due under this Scrurit} Instrument and the '~i~tr had nc~ a«clcrati~~n
:~~~urr~cl: Ih) ~urr~ ~in~ clrt:tult ~if an~ uther ce~~enants c~r agreements: fr) pa~~ ~II rr~~~ntie~ inrurrrd in enf~~r~in~ thi~
Serunt~ In.trum~nt. inriuc3int. hut n~~t limited t~~, reaumable att~rne~~' feeti: ~ind Idl i~:ke~ tiurh arh~~n ati l.cndcr rna~
r~.i~~~nahl~ rryuirr t~~ ,t,~urc that thr iten c~f th~ti Secur~t~ Intitrumen~, I.rnder', nghi~ in th~~ Pru~rrt} ancl Iiurn~~tirr'~
~,hlic;in~~n r~~ ~a~ thc• .um~ ~ccureci M thi~ Securit~ In~trument ~hail r~~ntinue un; l~a~~geci L'~~~n rrintitatement h~
Hc,rr<<~~rr. thi, ~rrun~~ In~trument and t~~e ubGgati~mti ~erure~i herrh~ ~h~sll r~m,~m full~ rfTrctn~ a, if n„ ~rcrl~rcilu,n h.~e1
~.~~riirrrti f I~~~~~•~~r. thi~ n~ht tc~ rein~t:~te ~Fall n~~t .i~rl~ ~n Ihr ~a~c ~~I a~relrr;itt~~n undc•r ~~,ira~r,~rh~ 1 Z~~r I'
fi75 ~N~E 142
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