HomeMy WebLinkAbout2977 It t.rn.lrr rryuirr.l mur[~;a~;r insur.~nrr cun.liciun uf makin~; thr luan ,rcurr.i hy ~hi, ~e~unt)~ In-
,crumrnt. I~UffUN't'f SI1dU ~d\' SI1C ~fCI111Ut1li fCyU1CE'~ tt~ fll.~int.~in thr ~n,~ir.incr in effrct unti! surh timr.~+ a rryuirrn~rnt fur
~hr in.i~r.~nir rrrmin,~er, in ~ciur.i~rirr with Hurruwrr's ,~n.~ Len~ler's Hrittrn .ikrre?nrn[ ~;r ~ppli~eblr I.~N.
K. Inspection. 1.rndrr ur in .~kene m.i~• makr rr~sun.iblr ~ntrirs u~m anJ insprc~iun~ uf thr Pruprrt~• Lrn~ier sh.ill
~;~~r tiurruw•rr nuti~r .?t thr cime uf ur ~riur u, a~ti in,~rctiun s~xrif~•in~; rra,unablr rau~c fur chr in,~tctiun
9. Cundemnacion. Thr ~rurrr.ls uf ,,np aw~~r + ur il.~im fur ~ian~~~;e~, ~iireit ur cunsryurntial, in iunneceiun wich .in~
iun~lr;nnauun ur ucher e.?kin~; uf .iny~ E~~rt ~~f thr Pruprrty, ur fur ~um•r}'ancr in liru uf cun.~rmn.~ciun, ~rr herth~• .utii~ne.i an~i
shali tx pai.i tu Lrn.irr.
ln thr r~~rnt uf ~ tut~l t.~k~n~; uf thr Yrupcrtq. thr pr~krr.i:~ J~13II hf' ~~~II(~ ~u thc ,wns sriurr.~ h~' thi, tircuric}~
ln,crumenc, w hreher ur nuc chrn.iur, w•ich ~~iy rxicss pai.; w Burruwrr. In th~ e~•rnt uf ~ perci~l cakin~; ui ~hr ?'ru~rc~, unlrs,
I~UffUR'C~ dlll~ I.CII~~CC U[IlCfq'ISt ~F;ftC 1(1 K'fl[Ifl~y, IfiC SUI715 ~CCUCCI~ fl~' tlllS ~CCU~1[y' II15IfUt71C(1[ 1I1dI{ bt fC~llCl~i h~' lf1C 1IllUU17[
~,f chr pnxrr~ls n~ulci~lir~1 bp the fulluw~inti fr~ctiun: ta) che tucal :~miwnt uf the sums ~rcure~l inune~ii.~trl~• brfure t.ikin~;,
.lic~.lr~1 bq tbi the fair markrt ~~alur uf thr ~'rc~prrcy immr~ia~cl~• brfurr thr t~kin~;. AnJ• b,~l~nre shall br p.~iJ tu Hurruu~rr.
ff ehr Pru~erty is ~ban~lunr.l b~• Burruw~er, ur iF, aFcer nucicr by l.xn~ler cu Burn~wer chac che iundrninur uffers cu nzakr
.~r~ ~w.?r~l uc settlr a claim fur ~~ma~;es, BurruWrr fails tu res~x~nd tu 1.rn~ler w•ithin ~t) Ja}'s after thr Jatr tht nunrr is ~;i~•rn,
Lrn~irr i, ~uchurizr~i cu ruUrrc ~nd appl}• che pnxrrds, 3t its uptiun, either cu resturatiur, ur rrpair uf the Yrup~•rt}~ ur tu ~he
,ums ,rcure.i by ~his ~eruriey~ Inscrumene, ahrthc~r ur nuc thrn ~lur.
Unless lxnder and Burruw•rr utherwise rgrre in w•ri~ink, any applic:+ciun uf ~nxer~ls cu princip.el shall nut rxcend ur
E,,,,c~~ne ehr d~r ~i:,ce ~?r che munchlp pa}~ments referrrd cu in par~gr~phs I:?nd Z ur ~h.~n~;e the amuunt uf such p.~ymcnts.
l0. Borcower Not Released; Forbearance By Lender Not a Waiver. l:xcrnsiun uf ~hr timr fur p~~mrnt ur
m~,.lif ic:~eiun uf amu: ~izaciun uf che sums secured by this Securit~• lnstr~ment ~;ranted b~• l.endrr ti~ sn~• succrssur in interest uf
Burruw~rr shall nut ~sprr~cr cu relc,~se the li,~bilit~~ uf the uri~;inal Burruarrur Hurruw~rr's surcessurs in interrsc. l.rn.~er shall
nuc br reyuirr~l tu tummrncr prucce~lin~s a~;~inst an~~ surcessur in interrsc ur refuse tuextenJ eime fur p.??~mrnc ur uthrrwise
mudify~ amur~iz~ciun ui thr sums seturrd b~~ this Serurity Instrument bp reas~~n uf an}~ ~lemand ma~e bq the urikinal Burruaer
ur Burruwrr~s suc~rssurs in interest. An~• (urbearancr b~• Lender in exercisin~; any ri~;ht ur remed}' shall nut t~e ~~~iver uf ur
~reclu~le the exercise ~>f any ri~;ht ur rrmcdy.
I 1. Successors and Assigns Bound; Joint and Se~•eral Liahility; Co-signecs. The ~u~~enacus an~ s~;rre~nents uf this
~r:urie~• Instrumenc shall bin~ and brnefic che success~~rs and assi~ns uf I.cn~ier snd Ki~rruarr, subject tc~ ~hr pru~~isiuns uf
para~;raph 17 Burruwer~s cu~~en~nes and ~~;reemen[s shall be juint and several. An}• Burruw~er ahu cir-si~;ns chis Srcuric}•
Inserumrnc but ~iurs nu~ rxecute the Nute: ~ a) is cu-sikning this Serurity lnstrumenr unly tu mur~KaKe.gr~nt ~nd cun~•ry th~e
Burruw•rr's interest in the Prupert~• un.ier the terms uf this Securicy lnstrumenr, ~b) is nut persunally ubli~;aced tu paq thr
sums ~rcurrd bq ~his Securitq Inscrumrnr, an~f ic1 ~Krres that I_rn~ier and an~~ ucher Burruwer ma}~ a~;ree cu ex~end, mudif~•,
furbrar ur makc ~ny arcum~nixlatiuns with rr~;ard u~ thc terms uf this Securitp Instrument ur the Nute w•ithuut that
Hurre~w•er~s runsent.
12. Loan Charges. if che luen serureJ b~~ this Securit}' Instrument is subjrrc cu a I~w whirh secs maximum luan
~ rh~r~;es, an~1 that law is f inall}• incerpreced se? th3t che incerest ur uther luan charges cullereed ~~r tu br cullecerd in a~nnectiun
f w~ieh thc lu:?n rxcred the permicced limits, then: t any~ such iuan chsr~;e shall be reduced by~ the amuunt necrssar}• tu re~uce
i che ch~r~;e ru the permicced limir, :~nd ~ b~ anq sums already c<~liecced frum Hc~rruwrr w~hich excrrded permicced limics w~ilf tx
~ refunded tu Hurruaer. Lender may~ chuuse a~ makc• this refund by~ reducin~; chc prinripal uw~ed under thr Nute ur b}' mak in~;:~
i ~irecc pa~~ment w Burruw•er. If a rrfund rrduces principal, the reducnun will be tre:~ted Ss a partisl prep:~}~?ncne w•ichuut anJ~
~ prepay~ment char};e under the Ni~te.
E 1~. Legislation Affecting Lender's Rights. lf enaccment ur expiraciun uf appliwbfe lz~~s h~s thr rffrcc <~f ren~ierink
? .~n~~ pru~•isiun ~zf the Nuce ur this Securic}' Instrumrnt unenfurcrable ~ciurding cu its cerms, lx~tier, at itsc~ptiun, maq sequirc
` i~nmediate p~yrnent in fu;l uf 311 sums secured b~~ chis 5erurit}' Inscrumrnc and ma~• im•uke any remedies prrmit~ed by
par.~~;raph 1~~. If LenJer cxercisrs this upciun, I.ender shail t~ke the sceps specified in the secund para~;raph ~~f paraKraph 1,_
R li. Notices. Any nueice tu Burrower pruvided fc~r in ehis Securicy Inscrumene shall be xiven by deliverin~; it e~r bq
~ rn~ilink it b}~ first ilass mail unless applics~,le law reyuires use uf anuther meth~x~. The nucicr sha{i be direrted tu thr Prupercy~
~ Ad~lress ur any ~~cher a~ldrrss B~~rn~wer design,~tes by nutice rc~ Lendrr. Am• nutice a~ l.ender shall be given by f irst c{ass mail
~ tu I.endrr's sddress scatcd herein ur 3ny ucher a~idress l.ender desi~;nates by nuciie tu Bi>rruwer. An}' nutire pru~•ided fur in
~ this ~rcurii~; li7struinenc shall be deemed t~> have beenKiven to Burr~~werur Lender when gi~~en as pru~~ideJ in this para~;r:~ph.
E ~1~5.'E~overning Law; Severability. This Security Instrument shall be guverned by~ federal law and rhe law uf nc~
~ juris~lirciun in w•hich the Y~upertp is l«caced. In che event thac any pr~~~~ision ~~r clause uf chis Securicy Inscrumrnt ~~r the Noce
~ runflices with applicrble law, such a>nflict st~all nue affecr uther pru~-isiuns u4 this Securiry Inserumene ur the Nene which can
be ~;n~rn effrcc withuue ~he cunflic~ink pr~~vuwn. Tu ehis encl thr pru~•uwns uf this Seruritq Inscrument an~i ehe N~~ce are
~lrclarrd w be se~~erable_
~ 16. Borrower's Copy. Hurruu~er shali be Ki~~en e~ne ci~nfurmed c:upq uf the Nuce .~nd uf ehis SeruritJ~ Inscrument.
~
fi 17. T'ransfer of the Property or a Beneficial Interest in Borrower. ff ali c,r ~ny~ p~rr uf the Pn:pert}• ur ~ny~
x interest in it is suld ur tr.ensferre~l ~ ur if a beneficial incerest in l~urruwer is se~ld ur ts3nsferred and B~~rre~w~er is nu~ a nacur.~i
r persunl w•ithuuc t_endrr's priur wricten cemsent, [.en~ier ma}', at its uptinn, require immediate psyment in fu!! uf al! sums
. serured by this Security lns~rument. He~wever, this u~riun shall nut be exercised b~~ Lender if rxercise is pruhibited bq :ederal
law~ ~s ~>f the e1.~te c~f this Security Instrument.
lf I_ender exercises this i~ptiun, t.rnder shal{ ki~~e Hc~rruw~er rn~tice ~~f acceler;~eiun. The nutice shall pru~~ide.? periixl e~f
nut less than 30 days frum the d~te che nutice is de1+4~ered ur mailed w~ithin :~•hich Burruwer musc p.~y ail sums secured by chis
Seruricy instrument. If Hurre~wer f~ils tc~ pay chese sums priur tu the cxpiracie~n ~f chis penex~, Lender may im•uke any
reme~lies prrmitted by this Seruriry Inscrument withuut further n~~tice ~~r demand un He~rn~wer.
18. Borrower's Right to Reinstate. If Bc~rruwer meecs certsin ce~ndiciuns, &~rruwrr shall have tt~e right te~ have
rnfurcemen~ uf ~his Secur~cy Instrumen~ ~liscuntinued ~t any cime pri~~r ro rhe earlier uf: ea) 5 da}~s i~~r such e~iher pericx~ as
~ppGr~ble law ma}' specif}• fur reinstatemen~ f be4ure sale uf the ~'ri>perty pursuanc w any ~,wer c>f saie cuncained in chis Se-
rurity~ Inserument; ur tb~ encr}~ ~~f a judgmient enfe~rcinK chis Security Inscrumenc. Thuse cunditie>ns are that Born~wer. ta>
p~ys Lendrr all sums w~hich chen we,uld be due under chis Securit}~ lnscrument and che Note had ni~ accelerati~~n ~xcurred;lb)
`E iures an~• default uf any ~~cher cc~n~•en~nts ur aKreements; !c) p.~ys all expenses incurred in enf<~rcing rhis Securicy Instrumen[,
inchadinK, bue nut limited tu, reasunable attorrieys~ fees; and !d) cakes such acti~~n as i.ender may reasunably require tu as-
, sure chac the lien uf chis Sec~rity Instrument, Lender's rights in the f'roperty ~nd &~rruwer's oblihation to pay the sums
' iecured bp this Securit}• Instrument shall cuntinue unchanged. L'pun reinscatemene by Burruwer, this Securicy Instrument
~nd ene c~bligations secured hereby shall remain fully effective as if n~> acceleratic~n had ~xcurred. H~?w~e~~er, chis right te>
reinsc.~te shall not apply in the case uf acceleracion under paragraphs 1 i e~r 17.
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