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<br /> 94� iQ0404
<br /> � If Lender recJuired mortgage insurance ns a condition of making the loan secured by this Security lnstrument,
<br /> aarrower shali pay the premiums required to maintain the insurance in eflect until such time as the requirement for the
<br /> insurance terminates in accordance with Bonower's and Lender's written agreement or applicable law.
<br /> � 8. In�rp�iiun. LClItICI" UY!�S i1�C11� lllily III2iI�Z F2A.SOfldb�i'Zilli'iZS U�SOiti aflfJ 1i15�2�'it10i15 O�T�Ic' P�Q}�lty. L�uJer
<br /> shall give Borrower notice at the time of or prior to an inspcetion specifying reasonable cause for the inspection.
<br /> 9. Condemnation, The procceds af any award ar claim for damages,direct or consequential,in connection with
<br /> � any condemnation or other taking of any part of the Property. or ibr conveyance in lieu of candemnation, are hereby
<br /> assigaed and shall be paid to Lender.
<br /> In the event o1'a tota)taking of the Propeny,the proceeds shall be applied to the sums secured by this Security
<br /> Instrument,whether or not then due,with any excess paid to Horrower. In the event of a panial taking of the Property,
<br /> unless Bonower and Lender otherwise agee in writing,the sur,�s secured by this Security Instrument shall be reduced by
<br /> the amount of the proceeds multiplied by the following fraction: (a)the total amount of the sums secured immerliately
<br /> � before the taking,divided by(b)the fair market value of the Propeny immediately before the taking.Any balance shall be
<br /> paid to Honower.
<br /> If the Property is abandoned by Bonower,or if,after notice by Lender to Borrower that the condemnor offers to
<br /> make an award or settle a claim for damages,Borrower fails to respond to Lender w ithin 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 secured by this Security Instrument,whether or not then due.
<br /> ' Unless Lender and Bo�-rower otherwise agree in writing,any application of proceeds to principa]shall not extend or
<br /> � postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br /> 10. Borro�er Not Released; FarbeArs�nce By Lender Not a Waiver. Extension of the time for payment or
<br /> . modiflcation of amoriization of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> interest of Bonower shall not operate ta retease the liability of the original Borrower or Bonower's successors in interest.
<br /> Lender shal!"not be required to commence proceedings against any successor in interest or refuse ta extend time for
<br /> payment or otherwise modify amonization oPthe sums secured by this Sceurity Instrument by reason of any demand made
<br /> by the original Borrower or 13onawer's successors in interest.Any forbearance by Lender i�exercising any right or remedy
<br /> shall not be a waiver of�r prtclude the exer�isc of any right or remedy.
<br /> 11. Suaxasors and Assi�s Bound;Joiet and Sevenl Ltability;Co•aigners. The covenants and agreements aP �
<br /> this Security Instroment shall bind and benefit the successors and assigns of Lender and Borrower,subject to the provisions �
<br /> of paragraph 17.Borrower's covenants and agreements shall be joint and several.An��Borrower who casigns this Security
<br /> Instrument but das not execute the Note:(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 personaUy obligated to pay L ,��
<br /> - � the snms secured�fy tlfis Jeturity Instrument; and(c)agrees ihat Lender and any otl�er Borrower may agrce ta exfend, " .-. __
<br /> madify,forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without � -
<br /> that Borrower's consent. .
<br /> 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br /> charges. and that law is flnally interpreted so that the interest or other loan charges collected or to be collected in
<br /> . connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount • °
<br /> necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Bonower which exceeded
<br /> permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br /> nnder the Note or by making a direct payment to Bonower.If a refund reduces principal,the redaction will be treated as a
<br /> partial prepayment withaut any prepayment charge under the Note.
<br /> . 13. Legislation AffeMing I�nder's Rights. 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 Security Instrument and may invoke any remedies
<br /> permitted by paragraph l9.If Lender exercises this option,Lender shall take the steps specified in the second paragraph of
<br /> paragraph 17. •
<br /> 14. Notices. Any notice to Borrower provided for in this Security lnstrument shall be given by delivering it or by :'.°�
<br /> mailing it by first class mail unless applicable law 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 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.
<br /> 1S. Governing Law;Severability. 'This Security Instrument shall be governed by federal law and the law of the
<br /> jurisdiction in which the Property is located. ln the event that any provision or clause of this Security Instrument or the
<br /> Note conflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Naie
<br /> whicfi can be given effect witho�t the conflicting provision.To this end the provisions of this Security Instrument and the
<br /> Note are declared to be severable.
<br /> 16. Bonower's Copy. Bonower shall be given one conformed copy of the Note and of this Security Instrument.
<br /> l7. TrAesfer of t6e Property or a Beneflcial 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 exercised by Lender if exercise is prohibited by
<br /> federal law as of the date of this Security Instrument. �_____ -
<br /> If i.ender exercises this option,Lender sha11 give Borrower notice of acceleration.The 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 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 Instrument without further notice or demand on Borrower. '
<br /> 18.$Ol10/1'Cf'S RIRht to Reinstate. if RnrrnwPr mPPtc rPrtaj�rnnrlitinnc; Rnrmwer chal) havP thP ri�ht t�have ��
<br />�'� enforcement of this Security Instrument discontinued at any time prior io the earlier of:(a)5 days(or such other period as �
<br /> L applicable taw may specify for reinstatement)before sale of the Property pursuant to any power af sale contained in this
<br /> Security Instrument; or(b)entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br /> (a) pays Lender all sums which then would be due under this Seeurity Instrument and the Note had no accelerati�n
<br /> occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this r'
<br /> ; Security Instrument. �nctuding, but not limited to, reasonable attorneys' fees; and (d)takes tiuch actinn a� I.ender may �.+
<br /> reasonably require t�assure that the lien of this Security tnstrument. Lender's nghtti in thc Pr��perty and Burrower's - 'e-
<br /> � obligation t� pay the sums Secured by this 5ecurity Instrument shall continue unchanged. U�on rein�tetement by ��� �
<br /> �� $nrrower,th�s Sccurity Instrumrm and the ohligations Secured hereby shal)retnain fully effective a�if nn acccleralu�t� had
<br /> ��ccurred.H��wever,thiti nght tr,reinstate chall nnt apply in the cn�e uf arceleratum undrr p.�ra�;ra�h� 13�ir 17.
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