HomeMy WebLinkAbout2561 l~~rr.~wer lail~ ro rcsEx~nd to Ltnder with~n 30 Ja~s after the date the noticc u given, l.ender is authorucd to cullcct and appty the prucecds, at its opu~ro, ri~her to
r~~i~,ation or repair of the Property or to the sunts securcd by this Security Instrument, whcthcr or not thcn due.
l niess Lender and E3ortouYr othen~ise agree in writing, any application of Qroceccls to principa! shall not extend or po6tpone the duc d:+te of thc monthly
;~.~~nunts rcferrcd to in paragraphs 2 a~d 2 or change the amount of such payments.
10. Borrower \01 Released; Fortxarance By Lender Not ~ Nairer. Etittnsion of Ihe time for paymtnt or maiification of amonizahon of the sums sccurcd by
~h~, ucurity Instrument grantcd by Lender to any successor in interest of E3orroa,tir shall not operatc to relcase thc liability o[ the original E3orrowcr or l3orrowrr's
,u:~essors in in[ercst.
Leniler shall not bc rcyuired to commence proceedings against any successor in mtcrest or rcfase to extend time for paymcnt or othe~~isc modify amortizauoo
~f the sums securcd by this Security Instrument by reason o( any demand madc by the originai [3emowtr or Borrowtr's successors en interrst. Any forbearanre by
n~cr in cxcrcising any rig,iu or remedy shatl aot be a waiver of or prcclude the cxerrise of any right or nmcdy_
t t. Successors and :~ssigns Bound; Joint and Sereral Li,bilit~; Cwsigners 'll~e covenants and agteemcnts o[ this Security lastrument shall bind and benefit thc
,_..c•.~:;,-., ..a.;g:.s , - _ . , ::E ~ . :•?nti t7. Rmm~wrrc eYwenanls and a¢reements shaU be joint and scvcral. Any
~ i
lk~rrvwer who m-signs this Sccurity Irtswment but does not execute !he \ote: (a) is co-signing this Secucity Instrument oely to mortgage, grant and comry that
ft.,rr~•cr's interrst in the property under the terms o[ this Security Instrumcnt (b) is not pcrsonally obligatcd to pay lhe sums securcd by thes Sccurity (nstrumcnt
: r~ (c; agroes that (xnder and any other Borraw~r may agree to extend, modify, forbear or mal•e any accommodations with regard to the tcrms of this Securit}~
:n,irument or thc \ote without that Borrow~ers consent.
Luen Charges. If the loan secured by this Sccurity !ns[rumcnt is subjcet to a?aw which sets maximum loan chargos, and ~hat !aw is finally intcryretcd so that
:hc incerut or other loan charges eollected or to be collected in connutiun with the loan exceed the permitted limiu, then: (a) any such loan charge shatl bc rcduced
t~c ~nt amount necessary to reduce the charge to 1he ~+ermitted limit; and (b) any sums alrcady collected fmm Borrow~er which exceedcd F+em~itted limits will be
n~unded to E3orrower. l.ender may choose to make this refund by rcducing the principal owed under the Note or by making a dirtct payment to f3orrow~er. If a
~~iund redu.es pnncipal, the reduction will be treated as a panial prepayment without any prepayment charge under the Note.
13. l,rgislatiun Afkeling Lender's Rights !f enac~ment or e~cpiretion of applicable laws has the effect of rendering any provision of the \ote or this Security
ln~~rumcnt uncnfomeable acconiing to its tcrms, Lendrr, at its option, may requite immcdiate payment in fuH of all sums secured by this Seruriry lnstrumrn~ and
:r.~~ ir.~•oAe any remcdiw pcrmittcd by paragraph 19. If Lendcr exerciscs this option, Lender shal! take the steps speriFicd in the second paragraph of paragraph 17.
l1. \utices. My natice to Borro~a~er ?rovided for in this Security lnstrument shall be given by delivering it or by mailing it by Grst class mail unless applicabk
~ reyuires use of another meth~d. "I7~e r.oticti shall be ditected to the Property Address or any other address Borrower designates by notice to l.ender. Any natice
i ender shall tx given by (iest class mail to Lenders addrcss stated herein or any other address Lendtr designates by notice to Borrower. Any notice prwided
'.:r ~n ihis Security Inswment shall be deemcd to have been givon to Borrower or Lendor whcn givon as prowided in this paragraph.
! l~. Go~•erning Law; Severability. "Il~is Sccurity Instrument shall bo gwemed by federa! law and the law of the jurisdiction in wiiich thc Property is located. In
~ «ent that an}• provision or clause of this Security lnstrument or the Note conflicts with applicab(e law, such conQict shall not affect other prrn~isions ef ihis Security
~ n~c rument or thc \ote w~hich can be gi~zn effect without the contlicting prarision. To this end the pro~isions of this Security Instrument and the \ote are declared
f~c severable.
16. Borro~.er's Copy. E3orrower shall be given one conformcd copy of the Note and of this Security Instrument.
j 3?. Transfer of the Properiy or a Beneficiwl Interest in Bonvwea [f all or any part of the Property or any interest in it is sold or transferred (or if a beneGcial
;::rrest in E3ormwer is sold or transferred and Borrowor is not a natural person) without Lenders prior writ:en cansent, Lender may, at its option, rcquire immediate
,~~n;ent in full of all sums secured by this Security lnstrument. }lowe~tr, this option shall not be exercised by Lender if exereise is prohibited by kderal taw as of
.
date of this Security Instrument.
If lxndcr exercises this option, L.ender shaU give Borro+.-er noticc of accdcration. 'Il~e notice shali provide a periocf of not )css than 30 days from ihe date the
n, ,u.e is deli~~ered or mailed aithin which Borrowtr must pay atl sums secured by ihis Security lnstrument. If Bortrnver fails to pay thesc surtu prior to the expiration
.~his period. Lender may invol-c any remedies permitted by this Security Instrument without funher notice or demand on Sorrovrer.
1l3. Borrower's Right lo Reinstate. If I3ornnver meets certain conditions, [3orrow-cr shall ha~t the right to havic enforcement of this Sccurity Instrument
.~~.:ntinued at any time prior to the earlicr of: (a) S days (or such other pericxl as applicable law may spccify for reinstatement) before sale of the Propeny pursuant
~.,nq pow~er of sale contained in this Security Instrument; or (b) entry o( a judgement enforcing this Security Inswment. "I'hose conditions are that E3orrower. (a)
;.:c~ l.ender all sums which then would be duc undcr this Secunty Instrument and the \o:e had no accNerntion occurrcd; (b) eures any defautt of any other carcnants
- egreements; (c) pays all e~cpenses incurred in enforcing this Secunry Instrument, including, but not limited to, reasonable attorneys' feu; and (d) takes such action
~ l.cnder may reasonably require to assurc that the tien of this Security Instrument, Lenders rights in tGe Property and Borrowers obligation to pay the sums securcd
~ chis Security Instrument shatl continuc unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hcrcby shall remain
.:;i~ effecti.e as if no acceleratioo had occurred. Nowever, this right to minstate shall not appiy in the case of aceekration under paragraphs 13 or 17.
!OV-UNIFOR~t COVEtiA~v'T'S. Botrower and Lender further covenam and agree as [ollows:
19. Acceleretion; Remedies. Lender shall give notice to Sorro+.er prior to accelerotan following Borrowe~'s breach otRny tovenant or agreement in Ihis Security
1 n+tniment (but not prior to accekratart under paragraphs 13 and 17 unless applicabk lac~ prorides otherwise). TAe notice shall spaifj: (a) the detaulh, (b) the sction
r.yu~red to cure the defanlt; (c) a date, not kss than 30 dsys trom the date the notice is given to Borroerer, by which the defauU must be curcd; and (d) that taitare
<<; cure the de/aull on or before the date spccitxd in Ihe notiee may rewlt in aecekrstan of the sums secured bJ~ this Securitp Instrument, forecbsure by judicial
pr~eeding and sale ot the Property. The notice shall turther intorm Borrarer ot the right to rcinstate aRer secekration and t6s rFght to usert in the toreclosure
proceeding the non-eziuence ot a default or aay other defense of Borrowrr to s?ccekration and torecbwra It the default is not surcd on or befon the date spaified
~n the noticr, Lemkr at its opt4on may require immediate payment in tull ot aU sums secured by this Security Instrument without turther demand and may foreciose
thi4 Security Instrumcnt by judicial proceedi~. Lender shall be entitkd to colkct all eacpenxs incurt~ed in pursuing fhe remedies providrd in this paragraph 19,
including, but not limiled to, reasor~abk attorneys' fces and costs of titk evidsnce,
20. Lender in Possession. Upon acceleration ~nder paragraph 19 or abandonment of thc Property, l.cnder (by judicially appointed receiver) shall t>e entiiled to
~,:er upcn, take pos,ussion of and manage tho Property and to collect the rents o: tht Property including those past due. Anq rcnts colkcted by i.cnder or the
::,,cner shall be appli~d first to payment of the costs of management of the Property and collection of rents, including, but not limited to, recei~~er's fecs. prcmiums
receiver's bonds and reasonable attorne}s' fces, and then to the sums secured by this 5ecurity Instrument.
2L Release. l:pon payment o( all sums securcd by this tiecurit}~ Instrument, I.ender shall release this Security Instrument w~thout charge to f3orrower. F3orrower
.!:ell pay any recordation costs.
22. Attorneys' Fces. As used in this Securiry Instrumcnt and the tiotc, 'attomcys' fees' shal~ inNude any attorneys' fees awarded by an appcllate couri.
23. Riders to this Security InstruexnL If onc or more riders are ozerutcd by [3orra~ver and recorded together with this Security Instrumcnt, tht crn~enants and
agrecments o( cach such rider shap lx incorporated into and shal{ amend and supplement the catnants and agreements of this Security Instrument as it thc rider(s)
re a part uf this Security Instrument.
~ I.()RIDA-Sin~le Familily•F'\~U/Ff#1.lfC ~\IFOR11 I~iSI'Rti~tE\T ~~~75 ~~iE~~~
BDOK
' ~:Y~ :r ~ T~, s,. .
e+. "~M'
3.~m..^~y ~ ' ~..~,~+t2 ~';~:~~a , i 'v~.sTv'.Y