The URL can be used to link to this page

Home My WebLink About0792 Ii~~r~•~uC~ lail~ to respc~nd to Lendtr within ~ lI3)S dRCi lAC d3lC IIIC nutice is gn~cn, Lendcr ~s authonzcd to culiec~ an~ apply~ ahc pnk~cc~1,. ~i~ uptn~n. c~~hci i~~ ;:~turauan ur rcpair of ths Pmperty or to thc ~ums sccurcd by ih~~ tiecuniy Instrument, whether or not thcn Jue. l.nicss Lcnder ar.d I3orrowrr othen.~se agtte in writing, any xpph.ation of proceeds to pnncipal shall nut exiend ur p.~sip.>n~ ~hc Juc ~aic .~f thr ~n,~nihi~ E~.,~mrnts rcferrcd to in paragraphs 1 and 2 or change the amount o( such ~}~ments. lU, t3urrower \ot Rrkased; Forbearance By Lender \ot a Wai~er. [atension of the time for pa~ment or moclificauun of amoniiat~~~n uf the sum. ,c.urcJ h~ ;i:~, Secunty instrument granted by Lender to any successor in interest o! I3orrower shall not operate to release the liabilny ot the ung~nal 13orrowrr ~rc i;:~rn~wrr. ~u.;eswn m interest Lender shall not tx requircd to commence proceeding,s against any successor in interest or rciuse to extend ume fur pay~nent or other..~se mo:l~iy am~~nirauun , f ~he sums securcd by this Security Instrument by reason ot any demand made by ~he original E3orrower or Borrower's succeiu~rs in interest. slnq lunc~eren:c h~ I~~nJer ~n cxtrcising any right or rcmedy shall not be a waiver o( or preclude the exemise of any nght or remcdy. ~ I1. tiucce~wrs and Assigns Bound; Joint and Several Liabilif~; Co-signers. ~e rovenants and agreements of this Security lnstrument sh~ll bind and benc(h the ~u.~es.x~rs and assigns of Lender and E3orm~+tir, subject to the pro~isions of paragraph 1Z Borrower's co~~enants and agreements shall be joint and se.~iel. ~~m 14~rn~er who cersigns this Security Instrument but does not executa ~he \ote: (a) is co-signing this Security Insirument only to mortgagr, grant and run.c~ thai f~,~rmw~er's mterest in the property undcr the terms of this Security Instrumcnr, (b) is not personally obligated to pay the sums sccured b~• ~his Se.•urn~ ln.trum~n~ :n:i (c) agra:s that I,ender and any other Eiorro~~er may agree to extend, modif;•, forfiear or make any accommodations w~th regard to ~hc terms u1 thu k:uni~ In.~rument or thc !~ote without ~hat l3orrow•cr's consent. I.oan CharRes. If the loan securcd by this Security Instrument is subject to a law which uts ma~cimum loan charges, and that law is finally interprcteJ su ~hai ~hc ~nterest or other loan charges collected or to bt collected in conncction with Ihe loan exceed the perntitted limits, then: (a) any such loan charge shall br redu.ed ihe amount neces~ary to rcduce the charee to tAe Exrmitted limit• and (b) any sums alrcady collerted from I3orrower which excceded permitted limiu wdl b~ r~ funded to I3orra+cr. Lender may choosc to make this refund by reducing the principat a.•cd under the \ote or by making a direct ~~meni to F3orrc~~~cr. If a ~.iund reduces principal, the reduclion wil~ be ~rcated as a partial prepay~?nen, without any prepa~~nunt charg: under the \ote. 1~. I.r~;islatiun ~jliecting Lender's Rights If enactment or ecpiration of applicable laws has ~he effect of rcndering any pro~isiun of the \ote or th~. Serunis la~~rumcnt unenforceable according to its terms, I.ender, at its option, may reqwrc immediate pa~ment in full of all sums sccured by this tiecurity Instrumeni and in.uke am• remedies permitted by paragraph 19. If Lender e~emses this oQtion. Lender shall take the steps specified in the secund peracraph of ~ragraph 17 li. \olice~. An~• notice to I3orrower pr~vided for in this Secunty Instrument shall be given by delivering it or by mailing it by firs~ clau mai! unles, c~ppl~,ablc !.:N rcyuires usc of another method. 1he notice shall tx direceed to the Prvperty Address or any other address Borro~+•cr dcsignatcs h~ nuti:c tu I.cnucr. ;\nc »,~~uc L~nder shall he gi~~en by first class mail to l.ender's address stated herein or any other addrtss l.ender des~gnates b~~ notice to liexruwcr. Any nutirc pn~u~lc.f i~~r in this Sccurity Instrument shall bt deemed to ha~t been given to F3orrowYr or l.ender when given as provided in this paragraph. l~ Go~erning Law; 5e.~enbility. This Security Irutrument shall be govemed by federal law• and the law o( the jurisdiction ~n Khich the Nru~crt~ i~ I~xated. In :he c~ent that an~~ pro~ision or clause of this Security Instrument or the :~ote confliets with applicable law, such confliet shatl not afCect uther pro~i~iunt of thiti ~cum~ L;.trument or the \ote w•hich ean be given effect without the con0icting prrnision. To ths end the prrnisions of this Security Instrumcnt and the \ote are ~crlarcJ ~ ~ hr secerable. 16. Borro.?er's Copy. I3orrow-er shall be given one conCormed copy oC the tiote and of this Security Instrument. 1?. "Tramfer of Ihe Property or a Beneficial Interest in Borrower. If aU ~r any part of the Property or any interest in it is sold or transferred (or if hcneF~cial -~rrest m I3orro..•er is sold or transferred and E3orrower is not a nataral person) without Lender's prior written consent, l.ender may, at itt opt~on, reyuirc ~mme~iate ~.:tment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise ~s prohibited hy fcderal la~. ,ti ut datc of this Sccunty lnstrumcnt. ; IF t.ender exercises this option, Ixnder shall gi~ti E3orrower notice o! acceleration. 'ilu notice shall pr.zvidt a penai of not less than 3[I da~s frum ihc daie ih~ i nce is deli~rred or mailed w~thin which F3orrower must pay all sums secured by this Secunty InstrumenL If E3orrower fails eu pay the~e sum~ pnur tu thc c.~rua~n,n ~ '~his penod, l.ender may imroke any remedies permitted by this Security Instrument without further notice or demand on Ciorrower. I ; 18. F3orruwers Right to Reinstate. If E3orrower meets certain conditions. [3ortow~er shall have the nght to ha~~e enforcement of this Secun[} In~trumciet I i:..ontinucd at any time prior to the earlier of: (a) S days (or such other penocl as applicahle law may specify for reinstatcmcnt) before sale of the Propert} punu.,n~ ~ am ~~wer o( sale contained~ irt this Security Instrumenr, or (b) entry of a judgement enforcing this Security Instrument. 'ITiose condiuons are that I;UI'IUN'(;f. (A) ~ Lender all sums which then would tx due under this Seeurity Instrumerst and the \ote had no acceleration uccurred: (b) cures anp default of zny othcr cot~enants ~ - a;;recments; (c) pa}s all expenus incurred in enforcing this Stcurity Instrument, including, but not limited to, reasonable a~rome}s' fees: and (d) tal:es such a:tiun ~ f~nJer ma~~ reasonably require to assure that the lien of this Secunty Instrumenl. Lender s rights in the Property and [3orrow~er's ohligation to pay the sums sccured R ; .!his ticcunty~ Instrument shall continue unchanged. Upon rcinstatement by Borrc»~~er, this Secunty Instrument and the obligai~ons se.ured hereby >hall rc~n.un t I~ cffech~c as i( nu acceleration had oceurred. How~e~~er, this nght to reinstate shall not apply in the case of acceleradon under paraaraphs 13 or 17 ~ E ~ 0 \U\-C\IFOR~1 COVE:~A\IS. Borrer~•er and Lender further co~~enant and agree as follows: f ~ 19. Acceleration; Remediec. Lender shall gi~e nolice to BorroNer prior to acceleration tollowing Borruwer's hreach of any cocenant ar aKrermrnl in thi~ tircurih I n,trumrnt (but not prior to acceieration under paragraphs 13 and l7 unless applicable law provides other..ise). 1'he notice shall specify: (a) the defauU; (b) thr Actiun ~ rrc~uired to cure the defaulh, (c) a date, not less than 30 days trom the date the nolice is given to Borrmrer, by which the default must be cured; and (d) that f:+ilurr cure ~he default on or beforc Ihe date specified in the notice may result in acceleration ot the sums secured by this Security Instrument, foreclosure b~ judiciel ~ ~nKercling and sale of the Property. The notice shaU turther intorm Borrower ot the right to reinstate aRer acceleration and the riy,ht to a.s.sert in the foreclu~urr ~ pr~uredin~ Ihe non-ezistence of a default or any other defrnse of Borrower to acceleration and foreclosure. It the default is not cured ~sn or be(ore the datr ~prrifircl in thr notice, I.ender at its option may requirc immediate paYment in full of all sums securcd Dy this Security inslrument without further demand and ma} furecln+r iii• tiecurity In~trument by judicial proceediny,. l.ender shall be entitled ro collect all ezpenses incurred in pursuing the remedies pro.idrd in thiti paray~r:+ph 19, :r,cludinR, but no1 limifed to, reauinable atlorneys' fees and ~osts of IiNe e~idence. '_0. 1,ender in Possessian. l;pon acccleration under paragraph 19 or abandcnment of the Property, l.ender (b~ ~udiciall}~ appo~nteJ recener} shall bc entiUeJ t~~ _.~cr uper., take possession o( and manage the Property and to collect the rents of the Property ;ncluding those pest du~. An~ rents cullecteJ hy I ~nJrr ~~r ihc ~cei~er shall he applied first ro pa}ment of the costs ot management a( the Yropeny and collection of rcnts. including, hut not limited te~. rece~~er'ti fc~.. ~,rcm~wu. : recei.er's bonds and rea.conable a~tomeys' (ees, and then to the sums secured by this Secunty Instrument. 21. Rrlease. l;pon payment of ali sums securcd by this Securit}~ Instrument. I.cnder shall release this Sccunty Instrument wuhout charpe to Ik~rrnwcr li~~n~~~~~~ ' ,.3;1 pa~~ any rccordation cacts. ~ '_2. Atlorneys' Fees. As uud in this Security Instrument and the \ote. 'attomeys' tecs' shall include any attome}s' fees aµasded b} a~ appcllate cuurt. F 23. Riders to this Securify Instrument. If one or morc nders are executed by E3orrcxver and recorded together w~th this Security lnstrument, the ru~~nant~ aiid .;r: cments of each such rider shaU h.e iixorporated ~nto ana shali ~mend and supplement the co~•enants and agreements ot this Securit} in,uumcnt as if thc ndensl ~ rr a part of this Sccunty Instrumcni. ~R~ 671 P,,~E1093 i i.l)RIU.A•SinKle Famiiil~•F'\~1a/F1f1,~1C l;\IPOFi.~1 I\S"1'RL~~tI;\7' U R ~~~~~7~ 7~?