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7. Protection of Lender's Rights In the Property. a Borrowar faile to perform the oovwante ant aglsarelarnts
<br />contained- In this Security Instrument, or than Is a legal proceeding that may sbriftenty affect Lenders rights In the Property (such as
<br />a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for
<br />whatever Is necessary to protect the value of the Property and Lander's rights In the Property. Lender's actions may Inolude paying
<br />any sums secured by a Ilan which has priority over this Security Instrument, appearing In court, paying reasonable attorney's fees and
<br />entering on the Property to make repairs. Although Lender may take action under this paragraph 7, lender does not have to do so.
<br />Any amounts diebureed by Lender under this paragraph 7 shag become additional debt of Borrower secured by this Security
<br />Instrment. Unless Borrower and Lender agree to other terms of payment, these amounts shad bear interest from the dale of
<br />diabursem nit at the Note rate and Shall be payable, with Interact, upon notice from Lender to Borrower mquostIng payment.
<br />8. MOrtMe Insurance. If Lander required mortgage insurance as a condition of making the loan secured by this Security
<br />Instrument. Borrower shall pay the premiums required to maintain the mortgage Insurance In effect. if, for any reason, fine mortgage
<br />Insurance coverage required by Lender lapse* or ceases to be in effect. Borrower shad pay the premiums required to obtain coverage
<br />substantially equivalent to the mortgage insurance previously in effact, at a cost substantially equivalent to the cost to Borrower of the
<br />mortgage lnsursnce prsviousty, In eftect, from an alternate mortgage Insurer approved by Lender. If substantially equivalent mortgage
<br />Insurance coverage Is not avallable. Borrower shall pay to Lander each month a sum equal to one - twelfth of the yearly mortgage
<br />Insurance premium being paid by Borrower when the Insurance coverage lapsed or ceased to be In effect. tender will accept, use and
<br />retain these payments as a loss reserve In Neu of mortgage insurance. Lose reserve payments may no longer be required, at the
<br />option of Lender, g mortgage Insurance coverage (In the amount and for the period that Lander requires) provided by an Insurer
<br />approved by Lender again baeomee available and Is obtained. Borrower shall pay the premkims required to maintain mortgage
<br />Insurance In affect, or to provltte a loss reserve, until the requirement for mortgage Insurance ends in accordance with any written
<br />agrearnent between Borrower and Lander or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and Inspections of the Property. Lender shall give
<br />Borrower notice at the time of or prior to an Inspeellon specifying reasonable cause for the Inspection.
<br />10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, In connection with any
<br />condemrAtlon or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby atPloned and shag be
<br />pas io Lender.
<br />In the went of a total taking of the Property, the proceeds shalt be applied to the sums secured by this Security Instrument,
<br />whether or not than due, with any excess paid to Borrower. In the event of a partial taking of the Property In which the fair market
<br />value of the Property immediately before the taking Is equal to or greater than the amount of the sums secured by this Security
<br />Instrument innmsrlistey before the taking, unless Borrower and Lender otherwise agree In writing, the sums secured by this Security
<br />Instrument shag be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums
<br />secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking_ Any balance
<br />shalt be paid to Borrower. in the event of a partial taking of the Property In which the fair market value of the Property Inrmsdiatoly
<br />before the taking Is leas than the amount of the sums secured Immediately before the taking, unless Borrower and Lender otherwise
<br />agree in v fRing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Securky
<br />Inetrurmant wholih r or not the sumt are than duo.
<br />If the Property Is abandoned by Borrower, or s, after notice by Lender to Borrower that the condemnor offers to make an award or
<br />settle a ofaim for damages. Borrower falls to respond to Lender within 30 days after the date the notice Is given, Lander Is authorhad
<br />to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security
<br />Instrument, whether or not then due.
<br />Unless Lander and Borrower otherwise agree in writing, any application of proceeds to principal shall not o4ond or postpone the
<br />due date of the monthly payments referred to In paragraphs 1 and 2 or change the amount of such payments.
<br />.11. Borrower Not Released: Forbearance By Lender Not a Waiver. EIrtenslon or the time for payment or
<br />modlNoallon of amortisation of the sums secured by this Security Instrument granted by Lender to any successor In Interest of Borrower
<br />shall not operate to release the liability of the original Borrower or Borrowers successors In interest. Lander shall not be required to
<br />commence proceedings against any successor in interest or refuse to exterid time for payment or otherwise modiry amortbatlon of the
<br />sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrow0ee suC0ee00re h
<br />Interest. Any forbearance by Lander In exercising any right or remedy shall not be a waiver of or preclude the exorcise of any right gr
<br />remedy,
<br />12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and
<br />agreaniants of this Security Instrument shag bind and benefit the 110003sors and assigns of Lender and Borrower, subject to the
<br />provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-sign. this Security
<br />instrument but does not tirtoculs the Note, (a) Is co- signkv this Security Instrument only to mottBage, grant and Convey that
<br />Borrower's intareal in the Property under the terms of this Security Instrument; (b) Is not personally obligated to pay the sums Secured
<br />by this Security Instrument; and (c) agrees that Lander and any other Borrower may agree to extend, modify, forbear or make any
<br />accommodations with regard to terms of this Security Instrument or the Note without that Borrowers consent.
<br />13. Loan Charges. if the loan secured by this Security Instrument Is subject to a law which sets maximum loan charges.
<br />and that law Is finally Interpreted so that the interest or other km charges collected or to be collected In connection with the ban
<br />eoaceed the permitted emits, then; (a) any such loan charges shall be reduced by the amount necessary to reduce the charge to the
<br />permitted gmit; and (b) any sums already collected from Borrower which exceeded permitted limits will be rolundad to Borrower. Lander
<br />may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. It a
<br />refund reduces principal, the reduction will be troated as a partial prepayment without any prepayment charge under the Note.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by maling it by
<br />first class mail unless awkable law mWires use of another method. The notice shall be directed to the Property Address or any
<br />other address Borrower dasignates by notice to Lender. Any notice to Lender shall be given by first class man to Lender's address
<br />stated heroin or any other address Lander designates by notice to Borrower. Any notice provided for to this Security Instrument shall
<br />be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br />15. 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. In the event that any provlelon or clause of this Security Instrument or the Note conflicts
<br />with applicable law, such conflict shag not slfect other provisions of this Security Instrument or the Note which can be given effect
<br />without the conflicting provision. To this and the provisions of this Security Instrument and the Note are declared to be severable.
<br />16. Borrower'a Copy. Borrower shall be ginner one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest In Borrower. If all or any part of the Property or any
<br />interest In k Is sold or transferred (or tf a beneficial Interest in Borrower Is sold or tranoferrud and Borrower Is not a nature) person)
<br />without lenders prior written consent, Lender may, at its option, require Immedlale payment in full of all sums secured by this Security
<br />Inatrument. However, this option shalt not be owcleed by Lender K exercise is prohibited by federal law as of the date of this Security
<br />Instrument.
<br />If Landes euarclaes this option. Lander shag giro Borrower no6oe of acceleration. The notice shah provide a period of not Ws
<br />then 30 days from the date tie notice Is delivered or marled within which the Borrower must pay all sums secured by this Security
<br />Instrument. it Borrower fags to pay these sums prior to the expiration or this period, Lender may Invoke any rentedbs permitted by this
<br />Security Instrument without further notice or demand on Borrower. Form 3020 goo
<br />F 62S.LMG (fora)
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