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<br /> If Lender r uired mort �O „''"
<br /> _ � eq gagc insurance as a canditi�n�P making ihe icsan secured by this Security Instrumcnt,
<br /> Bu�rawer ahali p�y the premiums requiced to maintain the insurance in eflect until such time As the requirement for the
<br /> insurAnce terminates in accordanca with Rnrmw�c'c an��ender's wr�ttrn aareessttn!os applisabl:la�.
<br /> 8. In:�ectlon, Lender or its agent may make reasonable entries upon and inspections of the Property. Lcnder
<br /> shall give�orrower notice ut the time of or pri�r to an inspcctian specifying reusonable cause far the inspection.
<br /> 9. Condemnatioe. The praceeds of pny award or claim for damages,direct or consequential,in connection with
<br /> any condemnation or other taking af any part of the Property� or for conveyance in lieu of candemnation, are hercby
<br /> assigned and shall be paid ta l.ender.
<br /> ln the event oPa total taking of'the Property,the proceeds shall be applied to the sums secnred by this Security
<br /> Instrument,whether or not then due, with any excess paid ta Borrower. In the event of a partial taking of the Property.
<br /> ; unless Barrower and Lender otherwise agree in writing,tha sums secured by this Security Instrument shall be rednced by
<br /> � the amount of the proceeds multiplied by the following fraction: (a)the total amaunt of the sums secured immediately
<br /> befare the taking,divided by(b)the fair market value of thc Propeny immediately before the taking.Any balance shall be
<br /> paid to Borrower.
<br /> If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to
<br /> ; make an awsrd or settle a claim for damages,Borrower Pails to respond to Lender within 30 days after the date the notice is
<br /> � given,Lender is autharized to collect and apply the prceeeds,at its option,either to restoration or repair of the Property or
<br /> ' to the sums secured by this Security lnstrument,whether or not then due.
<br /> ; Unless Lender and Borrower otherwise agrce in writing,any application of proceeds to principal shall not extend ar
<br /> postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change the amount of such payments.
<br /> � 10. Borrower Not Released; Forbearance Hy I.ender Not s� Waiver. Extension of the time for payment or
<br /> � modiftcation of umortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> interest of Borrower shall not operate to release the liability of the original Borrower or Bonower's successors in interest.
<br /> ' LendGr shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br /> � payment or otherwise modify amortization of the stems secured by this Security Instrument by reason of any demand made
<br /> by the original Bonower or Horrower's successors in interest.Any forbearance by Lender in exercising any right or remedy
<br /> shall nvt be a waiver of or preclude the exercise of any right or remedy.
<br /> 11. Suceessors and Aasigns Bound;Joint and Several Liability;Co-signers. The covenants and agrcements of `
<br /> � this Security Instrument shall bind and beneflt the successors and assigns of Lender and Bonower,subject to the provisions '
<br /> � of paragraph 17.Borrower's covenants and agreements shall be joint and several.Any Bonower who casigns this Security �
<br /> . Instrument but dces not execute the Nate:(a)is casigning this Security Instrument only to mortgage,grant and convey �
<br /> that Borrower's interest in the Property under the terms of this Security Instrument;(b)is not Qersonally obligated tn nay � --='
<br /> . iae sums securea by this Jecurity Instrument;and(c)agrees that Lender and any oihcr Barrower may agree to extend, � ---
<br /> modify,fvrbear or make any accommodations with regard to the terms of this Security Instrument or the Note without ` -
<br /> ; that Borrower's consent. _
<br /> ; 22. I.oaan G�arges. If the toan secured by this Security lnstrument is subject to a law which sets maximum loan - -
<br /> ! chargts, and that law is flnally interpreted so that the interest or other loan charges collected or to be collecteci irr. ' --
<br /> connec tion wit h t he loan ex c e e d t h� permitted limits, then:(a) any such Ioan charge shall be reduced by the amount >�
<br /> � necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Borrower which exceeded
<br /> ' permitted limits will be refunded to Bonower. 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 /> panial prepayment without any prepaym�nt charge under the Note.
<br /> ; 13. I.egtslation Affecting Lender's R�ghts. 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 aU sums secured by this Security Instrument and may invoke any remedies
<br /> permittod by paragraph 19.If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br /> - paragraph 17.
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<br /> j 14. Notiees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by .
<br /> ; mailing it by first class mail unless applicable law requires use of another methal. The notice shall be dire�:ted to the ��'
<br /> ' Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by -
<br /> i first class mail to Lender's address stated hErein or any other address Lender designates by notice to Borrower.Any notice •
<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. J`
<br /> ; 15. Gorerning I,�w;Severability. This Security Instrument shall be govemed by federal law and the law of the
<br /> jurisdiction in which the Property is located.In the event that any provfsion or clause of this Security Instrument or the
<br /> Note c.onflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note
<br /> � whieh can be given effect withoat the conflicting provision. To this end the provisions of this Security Instrument and the
<br /> ;Jote are declared to be severable.
<br /> 16. HorroNer's Copy. Borrower shall be given one conforme,d copy of the Note and of this Security Instrument.
<br /> . 17. Transfer ot ihe Property or a Beneficistl 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 snms
<br /> seeured by this Security Instrument. However, this option shal) not be exercised by Lender if exercise is prohibited b}•
<br /> federal law as of the date of this Security Instrument. �=-_—__
<br /> If Lender exercises this option,Lender shall give Borrower notice of acceleration.7'he notice shall provide a period '
<br /> of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all�ums secured by !
<br /> this Security Instrument. If Borrower Pails to pay these sums prior to the expiration of this period,Lender may invoke any
<br /> remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br /> l8.Borrower's Right tQ Reinstate. If Borrower meet5 certain conditions, Borrower shal)have the right to have
<br /> enforcement of this Security Instrument discontinued at any timc prior to the earlier af:(a)5 days(or cuch other period as �1
<br /> L applirable law may specify for reinstatement)before sale of the Property pursuant to any power of sale contained in this
<br /> Security Instrument;or(b)entry of�judgment enforcing this Security Instrument.Those conditions are that Borrower:
<br /> (a) pays Lender all sums which then would be due under this 5ecurity Imtrument and the Note h�+d no acceleration '`�
<br /> ° occurred; (b) cures any default of any other covenants or agreementti; (c) pay� all rxpentieti incurred in enforring this ��
<br /> 5ecurity lnstrument, �ncludinR, but not limited to, reatinnahle nttt�rneys' fees: and (d) take� tiuch actt�n as T,ender may ���
<br /> -- reasanably requirc t� a�tiure that the hen �P thir Security Imtrumrnt, i.ender'� nghtti u► the 1'r�+perty ,�nd Horrou•cr't r' '!'
<br /> — oblig�tum tu pay Ihe �un�ti �ecureJ by th�ti Sccunty Intitrumcnt �hall ccmtinuc unrhangcd l'��nn rrmtitatcmcnt hv "' ""
<br /> _ Bormwer,thtti Secunty Intilrument nnd the<�bligaUc�m�ecured hereh��tihall remain full} e(}�•cti�r a.if n�,;�cccl<•ratu,n had
<br />--' �*:rurred Nnv�evrr.th��nE,ht tn re�n�tete a��all nut apply in the�.»c�darrelrr.,unn undrr r;�rakrar}n I ;�n I�
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