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1 �
<br /> 90-�.0 0�3�
<br /> � if Lcndcr rcquired mortgagc insurance as a condition oP making the tuan securrd by this Security Insti ument,
<br /> Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br /> insurance terminates in accordance with Horrower's and Lender's writtcn agreement or applicable law.
<br /> 8. lnspection. Lender or its agent may make reasonable entries upon and inspections os the Property. Lender
<br /> shall give Borrower notice at the time of or prior to an inspection speci�ring reasonable r.ause for the inspection.
<br /> 9. Condemnallon. The proceeds ot'any aw�rd ur claim for damages,direct or consequential,in connection with
<br /> any condemnation or other taking of any part af the Property, or for conveyance in lieu ot'condemnation, are hereby
<br /> ' assigned and shall be paid to Lender.
<br /> In the event of a total taking of'the Property, the proceeds shall be applied to the sums secured by this Security
<br /> Instrument, whether or not then due,with any excess paid to Borrower.In the event of a partial taking of the Property,
<br /> unless Borrower and Lender otherwise agree in writing.the sums secured by this Security Instrument shall be reduced by
<br /> the amount of the prceeeds multiplied by the following fraction:(a)the total amount of the sums secured immediately
<br /> before the taking,divided by(b)the fair market value of the Property immediately before the taking.Any balance shal)be
<br /> paid to Bonower. ,
<br /> If the Property is aDandoned by Borrawer,or if,after�otice by I.ender to Borrower that the condemnor offers to
<br /> make an award 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 ta callect and apply the proceeds,at its option,either to restoration or repair of the Propeny or
<br /> � to the sums secured by this Security Instrument,whether or not then due.
<br /> ' Unless Lender and Borrower otherwise agrce in writing,any upplication of proceeds to principal shall not eatend 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 /> ]0. Borrower Not Released; Forbearanse By Lender Not a Waive�. Extension of the time for payment or
<br /> modification of amortization of the sums secured by this Security lnstrument granted by Lender to any successor in
<br /> enterest of Bonower shall not operate to release the liabilit�+of ihe original I3orrower or Horrower's successors in interest.
<br /> _ Lender 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 sums secured by this Security Instrument by reason of any demand made
<br /> by the original Borrower or Borrower's successors in interest.Any forbearance by Lender in exercising any right or remedy
<br /> shall not be a waiver of or preclude the exercise of any right or remedy. �' .
<br /> l l. Successors and Assigns Bound;Joint and Several LiAbility;Co-signers. The covenants and agreements of
<br /> this Security lnstrument shall bind and benefit the successors and assigns of Lender and Borrower.subject to the provisions
<br /> -. _ �f�.rsgrs�:: :?. °��rnsw"'s:.�r�a��ts ar,d agr��„er.s�3;ni�uc j�;i�i ar�d seve�ai.�,�,y n^oi�uvrc;w;�v cu-�igns ii,;s�:uriiy = -
<br /> Instrument but dces not execute the Note:(a)is co-signing this Security Instrument only to mongage,grant and convey � -�-
<br /> •that Borrower's interest in the Property under the terms of this Security Instrument;(b)is not personaqy obligated to pay ��:
<br /> _ the sums secured by this Security Instrument;and(c)agrees that Lender and any other Borrower may agree to extend. _1='
<br /> modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note withaut -
<br /> that Borrower's consent.
<br /> 1Z. Loan C6arges. If the loan secured by this Security Instrument is subject 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 coltected in
<br /> connection with the loan exceed the permitted limiu, 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 Borrower which exceeded `
<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 /> panial prepayment without any prepayment charge under the Note.
<br /> 13. Legislation Affecting Lender's Rights. ]f enactment or expiration of applicable laws has the effect of
<br /> � rendeang any provision of the Note or this Security Instrument unenforceable according to its tenns.Lender,at its option,
<br /> may require immediate payment in full af all sums secured by this Security Instrument and may invoke any remedies
<br /> permitted by paragraph 19.lf Lender exetcises this option, Lxnder shall take the steps specified in the second paragraph of . •
<br /> paragraph l7. =.
<br /> l4. Norices. An notice to Borrower rovided for in this Securit Instrument shall be �ven b deliverin it or b ���=
<br /> y P Y 8� Y s Y ,�.a
<br /> mailing it by first class mail unless applicable law requires use of anather method. The notice shal) be directed to the '
<br /> Propeny Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by �
<br /> first class mail to I.ender's address stated herein or any other addr�ss I.ender designates by not�ce 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 /> 15. Govesiting i,aw;Seresability. Tt�is Sccnrity Instrument sha{i be governed by federai law nnd thr law uf'thr
<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 affeci other provisions of this Security Instrument or the Note
<br /> , whieh can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br /> Note are declared to be severable.
<br /> 16. Borrower's Copy. Borrower shal)be given one conformed copy of the Note and of this Security Instrument.
<br /> , 17. Transfer of the Property or a Beneficlal Interest in Borrower. If all or any part of the Property or any
<br /> interesi 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. Howr.ver, this option shal! not be exercise�by Lendcr if�zcrcisc is prohibitcd by
<br /> federal law as of the date of this Security Instrument. ' --T
<br /> If Lender exercises this option,I,ender shall give Borrower notice o1'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�ay all sums secured by i
<br /> this Security Insirument. If$orrower fails to pay these sums prior to the expiration oi this periud,Lc:nder may inv.ike any I
<br /> remedies permitted by this Security Instrument withaut further notice or demand on Borrower. �
<br /> l8.Borrower's Right to Reinstate. If Horrower meets certain conditions,$orrower shall have the right to have
<br /> enforcement of this Security Instrument discontinued at any time prior to the earlier of:(a)5 days(or such othrr peric�d as
<br /> � applicable law may specify for reinstatement)before sale af the Property pursuant to any power of sale contained in th�s
<br /> Security instrument; or(b)eniry of a judgment enforcing this Security Imtrumcnt.Those rnnditiom are that liorrowrr. �
<br /> (a) Gays Ixnder all sums which then wouid be due under this Security Instrument and the Nute had n�� acrclrraun*i n
<br /> occurted; (b) cures any default of any other covenants ar agrcement�; (c) �+ays all expemcti incurred in cnfc�rcin�; thiti
<br />= Security Instrument. indudin�, blit not limited to, rcasonable attornryy' fces;ar�d(d) t�krti wch .�rtum .,ti < <���i�T ���:,y� , �f
<br /> reasonably reymre to as+ure that the lien of this Securu Instrument, i.ender'ti m�htti i►� thc !'r��•rr� �;�
<br /> y t� I 5 :���d H�,rmwcr's �
<br /> �bligahun to pay the Sums tiecured by this Secunty Inytnimen� shal) rtmtinuc wirhanged l"��nii retmt��tcment hy
<br /> Hnrruwer,thiti Secunty Intitrument and the obbgations secured hereby tihall rem,�ui fully efiecti�c a�if ui�accclrr:�lirn f�.ni
<br />, �x:curred H�iwevrr,thiti nght tu remstate tihall nnt ap�ly m the ca�e��f��ccrlcra�inn uniier��.�t:�F;r.���h. 1 ���r I '
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