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<br /> � If I-ei►d�r rc�uirctif m��rtg�gc ii�surauce a� a w���litiun of rnalci�g thc toan secured by this Sccurity Iastrument,
<br /> Borrower shall pay thc premiums required to maintain the insurance in effect uati!such time as the requiremtnt for the
<br /> insurance terminates in accordartce with Bonower's and Lena�e r's w n t t e n a gr e e m e n t o r a p p l i c a b l e l a w.
<br /> 8. Inspection. Lender or its sgent may make reasonable entcies upon and inspcctions af the Property. l,ender
<br /> shal!give�c+rrawer netice et thr timt of or prior tu sn ins�.-ctian s�s;;.ifying r�sanatslc caus..t'�r t8z iis�tia�.
<br /> 9. Condemnation. The proceeds af any award or claim for damages,direct or�onsequential,in cannection with
<br /> �ny condemnation or ather taking of any part of'the Property, or for conveyance in lieu of condemnation, are hereby
<br /> assigned and sha11 be paid to Lender.
<br /> I�the event of a total taking of the Propetty, the praceeds shall be applied to the sums secured by this Security
<br /> Instrument,whother or not then due,with any eacas paid to Borrower. ln the event of a partial uking of the Pwperty,
<br /> unless Borrower and Lender othcrwise agra in writing,the sums secured by this 5ecurity lnstrument sh�ll be reduced by
<br /> the amount of the procads multiplial by the fallowing fraction: (a)the total amount of the sums secured immodiatefy �
<br /> _ before the taking,divided by(b)the fair market value of the Property immediately before the taking.Any t+alance shall be
<br /> paid to Borrower.
<br /> lf the Property is abandoned by Borrower,or if,atter notice by Lender to Borrflwer that the wndemnor offors to
<br /> make an awud or settle a claim for damages.Borrower fails to respond to Lender within 30 days after the date the notice is
<br /> given,Lender is authorized to collect and apply the proceeds,at its option,either to restoration or repair of the Property or
<br /> to the sums securod by this Security lnstnunent.whether or not then due.
<br /> Unless Lender utd Borrower otherwise agra in writing,any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly paymenu referred to in paragraphs 1 and 2 or change the amount of such paymenu.
<br /> 10. Borrowe� Not Released; Forbearance By Lender Not s Wai�er. Eatension of the time for payment or
<br /> modification of amortization of the sums socured by this Sxurity Instrument grantod by Lender to any successor in
<br /> interest of Horrower shall not operate to release the liability of the original Borrower or Borrowcr's successors in intercst.
<br /> Lender shaA not be reqnired to commence proccedings against any successor in interat or refuse to eatend time for
<br /> pRyment or otherwise modify amortization of the sums secured by this Security]nstrument by reason af any demand made
<br /> by the origipial Borrower or Borrower's successors in interest.Any forbearance by Lender in exercising any right or remedy
<br /> shall not be s waiver of or preclude the exercise of any right or remedy.
<br /> 11. 5uceesiors u�d Atsi�Houed;Jotnt aed Se�eral Liabillty;Co-ai�ers. 'The covenants and ageements of
<br /> this Se�urity lnstrument shall bind and benefit the successors and assigns of Lender and Bonawer,subject to the provisions
<br /> oPparagraph 17.Borrower's covenants and agreemenu shall be joint and several.Any Borrower who co-signs this Security �
<br /> Instrument but das not execute the Note:(a)is co-signing this Security Instrument only to mortgage,grant and convey
<br /> that Borrower's interest in the Property under ths tenns of this Sxwity Instrument;(b)is not personally obligatod to pay
<br /> ihe sums sxural by this Sxurity Instrumtnt;and(c)agre�,c ihai L2nder and any other Borro��r may agree to eatend ; '
<br /> �v"'3.i y;fa'3TZ'nai vi�:,o;:t ar,y n�;�,�:,,nv�;etiu;,s wii��r�arci iu ine ierms ni ihis�ecuriiy insirumeni or tite i�ote without
<br /> that Borrower's consent.
<br /> 12. I.oan�, lf the loan secured by this Security Instrument is subjeet to a law which sets maximum loan � -
<br /> charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in `�
<br /> wruixtion with the loan ea¢eed the permitted limits, thEn: (a)any such loan charge shall be roduced by the amount �
<br /> necessary to reduce the charge to the permittod limit;and(b)any sums already collected from Horrower which excaded � -
<br /> permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed '; '�
<br /> under the Note or by making a direct payment to Borrower.If a refund reduces principal,the reduction will be treated as a '
<br /> partial prepayment without any prepayment charge under the Note.
<br /> 13. Le�isla8oe AfFecting Lender's Ri�hta. If enactment or expiration of applicable laws has the effect of
<br /> rendering any provision of the Note or this Security Instrument unenforceable according to its terms,Lender,at its option, �
<br /> may require immediate payment in full of all sums secured by this Socurity Instrument and may invoke any remedies � ; �.
<br /> permitted by paragraph 19.If Lender exercises this option,Lender shall take the steps specified in the second paragraph of . ,
<br /> P�S�Ph 17. �;
<br /> 14. Nodea. Any notice to Borrower provided for in this Security lnstrument shal!be given by delivering it or by
<br /> mailing it by first class mail unless applicable Iaw requires use of another method.The notice shall be directed to the • ��"
<br /> Property Address or any other address Borrower designates by notice to Lender.Any notice to Lender shall be given by � �.'
<br /> first class mail to Lender's address statod herein or any other address Lender designates by notice to Borrower.Any r�otice •
<br /> provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br /> in this paragraph.
<br /> 15. G�ernieg I.ww;Sevenbility. 7'his Security Instrument shall be governod by federal law and the law of the
<br /> jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br /> Note conAicu with applieable Iaw,such conflict shall not affect other provisions of this Security Instrument or the Note
<br /> which can be given effect without the conflicting provision.To this end the provisions of this Security tnstrument and the
<br /> Note are declased to hc scverabte.
<br /> 16. Horrower's Copy. Borrower shall be given one conformed copy of the Note and os this Security lnstrument.
<br /> I?. ?ransf�r ot t6e Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br /> interest in it is sold or transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br /> person)without Lender's prior written consent,Lender may,at its option,require immediate payment in full of all sums
<br /> secured by this Security Instrument. However, this option shall not be eaercised by Lender if exercise is prohibited by
<br /> federal lsw as of the date of this Security Instrument.
<br /> If Lender exercises this option,Lender shall give Horrower notice of acceleration.The notice shall provide a period .---____-
<br /> of not less than 34 days from the date the rtotice is delivered or mailed within which Borrower must pay all cums secured by �
<br /> this Security Instrument.If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any
<br /> remedies permitted by this Security Instrament without further notice or demand on Borrower.
<br /> 18.Borrower's Rlg6t to Reinstate. if Borrower mats certain canditions, Borrower shall have the right to have
<br /> enforctment of this Security Instrument discontinued at any time prior to the earli�r oE(a)5 days(or such other period as �
<br /> apalicable law may snecify for reinstatement)before sale of the Prop�ri3�pursuant t��-�power af�ale cc:ssined iz!!s's� �
<br /> i v„-a:�r:l�37strumrnt;or(b;�ni;�af s judgm�nt tnforciag this Sccurity ;nsiru;,,e�t. Thosc condiiion;are fhai ilortowcr: �
<br /> L (a) pays Lender all sums which then would be due Under this Security Instrument and the Note had no acceleration
<br /> occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this v
<br /> Security Instrument, including, but rtot limited to, reasonable attorneys' fees; and (d) takes such action as Lender may ���
<br /> reasonabfy requ�re tn assure that the ltcn of this Securety Instrument. Lender's nghts in the Property and E3orrower's �
<br /> obl�gation to pay the sums secured by this Seeurity Instrument shall conttnuP unchanged. lipon reinstatement by .-
<br /> &�trower,this Security Insttum�nt and the obbgations secuted heraby shall remam fully effect�ve as d no scceleraUOn had =• '
<br /> accurred.However,this nght to reinstute shall not apply�n the cs�se of uccelerat�on undcr paraRraphs t�or 1�
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