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<br /> � If Lender reqaired mortgage insurunce us a conditian of maki�� the loan secured b�� thi� Scrurity lnstrumcnt.
<br /> Borrower sl�all pay the premiums required ta maintain the iusuranre in efi'ect until such time as tl�e requirement for the
<br /> insurance terre�inatcs in uceorclance with Bonawer s und Lender'sµ�rittcn agreement ar applicable law.
<br /> 8. lnspectioe. Lender or its agent may make reasonable entries upan and in�pcti:tions of the Prcperty. Lender
<br /> shall gi�e Horro�uer notice at thr time af or prior to an inspection specifyiag r�asonAblr cause for the inspec�ion.
<br /> 4�. Condemnation. The proceeds oi'any award ar claim for damages,direct or consequential,in cannection with
<br /> any candemnation or other taking of any part of the Property, or for conveyance in lieu af candemnation, are hereby
<br /> assigned and shaq 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 /> Instruinent,whether or nut then due.with any excess paid to Borrower, ln the event of a partiAl taking of the Property,
<br /> . unless�orrower and Lender atherwise agree in writing,the sums secured by this Securit�•lnst�ument shall be reduced by
<br /> the amount of the proceedc multiplied by the followiag fraction: (a) the total amount of the sums secured immediately
<br /> ' before thG taking,divided!a�(b)the fair market value of the Property immediately before the takin�.Any balance shall be
<br /> paid to Borrawer.
<br /> If the Property is a�andoned by Bonower,or if,after nqtice by Lender to BorroN�er that the condemnor ofFers to .
<br /> make an av►��or sextle a claim fos damages,Borroa�er fails tr respond to Lender within 30days after the dute the notice is
<br /> given,Lend�r is suthorized to collect And apply the proceeds,at its option,either to restc�ration or repair of the PropeRy or
<br /> to the sums secured by this Security Instrument,w•hether or not then due.
<br /> . Unless Lender and Borrower otherwise agree in writing,any application of praceeds to prinei�l shall not extend or
<br /> ' postpone the due date oP the monthly payments re�'�:rred ta in paragraphs 1 and 2 or change the amount of such payments. �
<br /> 10. Bonower Not Released; Forbearnnce 8y I.ender Not a Waiver. Extension of the time for payment or
<br /> modiflcation of amortization of the sums secured by this Sesurity Instrument granted by Lender to any successor in
<br /> � interest of Borrawer shall not operate to release the liability of'the original Borrower or Borrawer's successors in interest.
<br /> Lender shall not be required to commence proceedings against any successar in interest or refuse to extend time for
<br /> payment orotherwise modifj+amortizatian of the sums secured by this Security Instrument by reason of any demand made
<br /> by the origin��Borrower or Borrower's successors in interest.Any forbearance by Lender in exercising any right or remedy
<br /> shall noi l�e a�+�iver af or preclude the eaercise of any right e�r��medy. .
<br /> i l. S�reessors and Assigr�s Hound;Joint and Secera�LiAbiltty;Co•si�ers. �'Lie covenants and agreements of �
<br /> this Security I nstrument shall bind and benefit the s�..�cessors and assigns of Lender and Borrower,subject to the provisions '
<br /> af paragraph 17.Barrower's covenants and agreements shall be joint and several.Any Bonower wkm casigns th9s Security
<br /> Instrument but dces not execute the Note:(a)is co-signing this Security Instrument only to mortgage,grant and convey
<br />_ . that Bonower's interest in the Pmpeny�nder the 2°rcns af this S;.curisy Iastrument;(h)is nat personslly obligated to ps� �-_ -_
<br /> the sums secured by this Security Instrument; and (c)agrees that Lender and any other Borrower may agree to extend,
<br /> mnclil�v fnr�ar Qr ma4@ n*!��rM^l:::�l:L`:SV`«'::t:t�bSl�:3!:i •�«•," C•�iiS�:�iS;.'s3 �tiSiiilii:�;,z a1T iilG i'�Oit witiivi�i
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<br /> that Borrower's consent ° -
<br /> 12. LoAn Charges. If the loan secured by this Security lnstrument is subject ta a law which sets maximum loan ��
<br /> charges, and that law is finally intetpreted so that the interest or other loan charges collected or to be collected in =
<br /> connection w�ith 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 iirrit;and(b)any sums already collected from Bonower which exceeded ;
<br /> perrnitted limits will be refunded ta Honower. Le^der may choose to make this refund by reduceng the principal owed
<br /> under the Note or by maknng a direct payment to Borrower.If a refund reduces principal, the redtcction will be treated as a �
<br /> partial prepayment without any prepa}ment charge under the Note.
<br /> 13. Legislation Aft'eeting �.eader's Rights. If enactment or expiration of applicable laws has the effect of ;
<br /> rendering any provision o€the Note or this Security lnstrument unenforceable according to its terms,Lender,at its option.
<br /> may require immediate�ray-ment in full of all sums secured by this Security Instrument and mas• cnvoke any remedies
<br /> permitted by paragraph 19.If Lender e�ercises this option,Lender shall take the steps specified in t�e szcond paragraph of
<br /> patagraph 17.
<br /> 14. Notices. Any notice ta Betrower provided for in this Security Instrument sF:all 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. Anp 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 Botrower. Any notice
<br /> provided forin t:�is Security Instrurrient shall be deemed to have been given ta Borrower er Lender when given as provided
<br /> in this paragraph.
<br /> 15. GQVeming I.sw;SeverAbility. This Security Instrument shall be governed by federal iaw•and the law�of the
<br /> jurisdietion in which the Property is located. In the e��ent that any provision or clause of'this Secarit} lnstrument or the
<br /> Note confliets with applicable law,such eonAict shall not affect other provisions of this Security Instrument Qr the Note
<br /> whieh can be given effect without the eonflicting provision. To this end the provisions of this Securit}�Instrurrrent and the
<br /> Note are declared to be severable.
<br /> 16. B�rrower's Copy. Aerrcwer shall be gi��en one conformed copy of the Note and af this Security Instrument.
<br /> 17. Transfer of the Property or a He�+eficial Interest in Borrower. lf all or any part of the Property or any
<br /> interest in it is sold�r transferred(or if a benef,cial intcrest in Borrower is sold or transferred and Borrouer is not a natural
<br /> person)without Lender's prior written consent, Lender may,at its option,reqwre immediate payment�n full of all sums
<br /> secured by this Security Instrument. However, thtis option shal! not be exerci�ed by Lender if exercise �s prohibited by
<br /> federal law as of the dace af this Security Instrument. %`--'-=_
<br /> If Lender exereises this option, Lender shall give Borro��•er not�re of acceleration. The notice�hall�+r�vide a periad �
<br /> of not less than 30 days from the date the notice i4 delivered or mailed within which $orro�+.•cr mu�t pay all�um�sec�red by
<br /> this 5ecurity Instrument.If Borroa�er fails to pay these sumc priot to the expiration of th�ti period, l.endcr may invoke any
<br /> remedie�permitted by- �his Security Instrumen�without iurther nohrc or demand�n Hnrrrn.er.
<br /> 18. Borrower's RiRht to Reinstate. If Borroa•er meetc rerta�n cond�u�m. Bormuer �hall h��e thc right to ha��e
<br /> enPorcement�f thi�Security Instrument di,continued at any ume pi�or tc�the earher nf�(<�)5 days(�r��rh nther pen�d a. �1
<br /> � apphcabie la�c may ,�ecify for rcinctatement)hef��re.ale��f the Prupert} rur�u�nt t��:�n: puuer�+f�ale ccmtain�d in th��
<br /> Secunty InMrumenr, or(hl emry of a judgment enforcing thi.Se.unt� In�trument I hc��r cnndnumti are that Rc�rr����er ��
<br /> (a) pay� [.ender atl sums which then uc,uld be due under thi� Secur►t� ln�trument an�1 the ti„tc had nn acrelerati�m n
<br /> ucrurred, (h) cure� an�•def�ult �f an�• �ther m�cnant� i�r aFreement�: (c) �a}� all ex�cn.r• �ncurrrd in rnti�run� t}n. ��
<br /> Scc�enty In�lr�imcnt. �nclu�ting. but nc,t limited ti,. rc��uriahlr at���rnc«' frc�. .in.1 (d) t::}.r� tiurh arh„n a� 1 cniier m.��
<br /> rcatic,nnhl} rcc.�u�rr t�, atitiurc that thc hcn c�f thiti Srrurit� lntitrumcnt. ( rniirr'� neht� �r� �hc I'i„�•c•ri� ;ui�f {i�,rr��wrr'�
<br /> adrl�t:.�iu,n to �ay the �um� tic�utrd 'hy tfu� �c�ur�ty In.ir�imrnt .h.+Il .��ntn�ur ��n�t�.u��;r�1 t'�.�n r.in.t�,t�nirnt h� ,.
<br /> H��rrnwrr. tln. tic�ur�t� In�trurtirrit.�n�1 thr��hii�.it���n..c�tirccl hcrrnti �h.�ll rcni.ur, lu;l� � ft�,t�tr,i.�f r���.�,,� I� • �ti�,r 1�.�,1
<br /> ni�uncc! Hi���t'��'t. it��tinL•hl i��rr�n,t.itc�h.�l!n:,t.i��l�l� �i� �li: ..�,� , I .,. .,I���.�+i�.�, , ����•� ��tr���� ���I�� ! i„� ..
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