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2� 1 ��8415 in�eres�from the date nf disbursement at the Nate rate and sha11 be payab�e,�v�th�nteres�,upon no�ice from Lender to Borrower reques�ing paymen�. Nlortgage Insuran�e. �f Lender requ�red mor�gage �nsurance as a condit�an af mal�ing the Ioan �ecured by this Security Instrumen�,B�rrfl�ver shall pay the prem�ums requ�red�o ma�n�a�n�he mor�gag��nsurance in effect. �f,far any reasan, the mor�gage insurance coverage required by Lender �ap�es or ceases to be in effec�, Borrnwer shall pay �he pr�mzums r�qu�red to obta�n coverage subs�antia�ly equ�valen� to �he mort�age insurance previously in effec�, at a cos� subs�an�ial�y equivalen� �o the cos� to BorraWer of the m�rtgage insuranc� pr�viously zn effect, from an a��ern.a�e mar�gage znsurer approved by Lender. �f substantially equivalen�mortgage insurance c�verage xs not a�ai�ab�e, Sorro�ver sha�� pay to Lender ea�h month a sum equal to one-�welfth of �he year�y mortgage insurance premium being paid by Borrotiver,when the �nsurance co�erage lapsed or ceased�o be �n effect. Lender w�� accept, use and retain these payments as a loss reserve in lieu of mortgage �nsurance. Loss reserve paymen�s may n� longer be required, a� the opt�on af Lender, xf mox�gage insurance c�verage (in the amaunt and for the periad�hat Lender requzres}prov�ded by an insurer appraved by Lender again becomes avai�able and is abtained. Bflrrow�r shal�pay the prem�ums required �a maintain martgage insurance in effec�, or�o pra�ide a �oss reserve, until �he requiremen� for mar�gage znsurance ends in acc�rdance �vith any wri�ten agreement bet�veen Borr�wer and Lender or Appl�cabTe Lavv. Inspe�t�on. Lender �r its agent may make reas�nab�e entr�es upon and inspections of the Pr�per�y. Lender shall give Borrower no��ce a��he�zme of or pr�or t�an inspect�on specify�ng reasonable cause for the�nspec��an. �'ondemma�ion.The proceeds of any au�ard or c�a�m for damages, direct flr consequential, in connection with any condemnation or other�ak�ng of any par�of the Proper�y, ar for conveyance in ��eu af condemnat�on, are hereby assigned and shall be paid to Lender. �n the event of a to�a� tak�ng of the Proper�y, �he proceeds sha�� be app��ed ta the sums secured �y th�s Secur�ty �nstrumen�, whether or no� then due, with any excess pa�d �o Borr�wer. In the event of a par��a� taking of�he Proper#y zn which the fair market value of the Proper�y immediately before the taking �s e�ual �o ar grea�er than �he amoun� of�he sums secured by this Secur�ry �ns�rument immediately before the tak�ng, un�ess Barrower and Lender otherw�se agree�n writing, �he sums secured by th�s Securi�y Ins�rument shall be reduced�y the amoun�of the proceeds multiplied by the fallow�ng frac�ion: �a) the total amoun��f�he sums secured immediate�y before�he talc�ng, divided by (b} �he fair market value nf�he Property immedia�ely before the �aking. Any balance shall be pa�d �o Borrovver. �n the even� of a par�ial taking of the Proper�y xn �vhich the fa�r marke� value of the Pr�per�y immediately before the �aking is �ess than the amoun� nf the sums secured immediately before �he ta�ing, unless Borro�wer and Lender otherwise agree in�vr��ng or un�ess Applicable Law o�herw�se pr�vides, �he proc�eds sha�l be applied to the sums s�cured by this Secur�ty�ns�rument whe�her ar not the sums are then due. �f the Property is abandoned by BorroWer, or if, after natic�by L�nder to Borrovver�ha��he condemnor�ffers to ma�e an a�ward or set�le a c�aim f�r damages, Borraw�r fa�1s�o respand�o Lender wi�h�n the m�n�mum numb�r of days established by App��cable Law af#er�he da�e the no�ice is gzv�n,Lender is au�hflr��ed�a collect and apply�he proceeds, at i�s op��on, either to restorat�on or repair af�he Proper�y or to the sums se�ured by this Secur��y �ns�rument,whe�her or no��hen due. Y]nX�ss Lender and Borro�ver o�herwise agree in�vriting, any appl�catinn af praceeds�o principal shall n�t extend or pos�pone the due da�e of�he payments referred �fl in the sect�on ti�led Paymen� of Principal and In��res�; �repayme�.t and La�e�harges or change�he amount�f such paymen�s. �orrower No� Re�eased; Forbearance �3y Lender Nat a �Vaiver. Ex�ension af �he �zme for payment or madifica��on af amnr�i�ation of�he sums secured by �his Security �nstrumen� gran�ed by Lender to Borrawer or any successor in in�erest of Borrawer sha�� no� operate to re�ease the liab�lity af the ariginal Bflrrav�er or Borrower's successors in interest. Lender sha�l no�be required t� com.mence prnceedings against any successor in in�erest or refu�e to ex�end t�me f�r payment�r o�herwise mod�fy amortization flf the sums secured by th�s Security �ns�rument by reason of any demand made by �he original Borrower or Borr�wer's suc�essflrs in interest. Any forbearance by Lender�n exercis�ng any r�gh�or remedy sha11 no�be a wa��er af or preclude the exercise of any right or remedy. Su�cessors �nd �ssign� �3ound; Jainti and Several Liab��ty; Accammoda��on S�gner5. Th� �ovenants and agreemen�s af�his Securi�y�ns�rument shal�b�nd and benef�t�he successors and ass�gns�f Lender and Borrower, subject to the pr��zs�ons flf section tit�ed Transfer af the Praper�y or a I3ene�cial Interes� �n I3orrower. Borrow�r's covenants and agreements sha��be joint and several. Any pers�n who co-signs�his Securi�y Instrumen� but does nflt e�ecute �he No�e �"Accommodatian S�gner"}: �a} zs co-signing thzs Se�uri�y Instrument only to mor�gage, grant and Con�ey that Accommodation Sxgner's interest �n�he Properry under the �erms of the Security �ns�rument; �b} �s no�persona��y obligated�o pay�he sums secured by th�s Security�ns�rument; and�c} agrees that Lend�r and any o�her Borra�ver may agree to extend,madzfy, forbear ar m.ake any accommodations�v��h regard to the terms�f�his Security�nstrumen��r the Note�vi�haut that Accommodatian S�gner's con�ent. Loan �harges. Zf the loan s�cured by th�s Security ��astrumen� is sub�ect to a law whi�h sets max�m.um loan charges, and that law is f na��y in�erpreted �o�hat the in�erest or other�oan charges co��ec�ed flr ta be col�ec�ed in c�nn�c�ian w�th �he I�an exceed the permitted Xzm�ts, then: �a} any such loan charge sha�� l�e reduced by #he amount necessary�o re�Iuc� th� charge �� the permitted ��m�ts and �b} any sums already col�ec�ed frflm B�rro�ver v�hich exceeded perm�t�ed lim�ts vv�ll be refund�d ta Borrower. Lender may choose ta make th�s refund by reducing �he principa� awed under �he Not� or by making a direct paymen� �o Borrow�r. �f a refund reduces princ�pa�,�he reduct�on�ill be treated as a partial prepaymen�without any prepayment charge under�he No�e. C��2�04-?015 Cain�liar�ce Systertas,Inc.518A-�O 1 E-20 t 7.3?.3.1,1 l 1� Consurne�-Rea.l Estate-Se�ua'ity Instrun�.�t DL?D3G Pa�c 3 of 5 unvw.�oinpiian�esystems.com