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<br /> . , � . 'If I.�adu rsquired r�tgage�nsura�as a cc��ii�on of�seaking the loan se�ued by this sec�uity Instraimta� � _.
<br /> ; Borrowar shall pay the premiumi rcquired to maintaia the in3�rance in effect unW such time as the requirement for the ,
<br /> ? insurance terminates in accordame arith 8onawer's and Lender's written agrameut or npplicabte la�. . � � ` `.
<br /> � ; � 8. I�eetfou. Lender or its agent may m�ake ressonable entries upon and inspections of the Frcperty. Lender . ". �
<br /> . shall give Borrower noace at the time of or prior to au inspection specifying reasona6fe cause for tke inspectian. � �
<br /> � , 9. Co�dpu�tiod. The procads of any award or claim far damages,direct or conseguential.in connectian with �
<br /> ( zny r.andannation or other talcing of any part of tlic Praperty,or for conveyance in lieu of condemnatiou,are hEreby , •
<br /> j _ . assigned and shaIl be paid to i.teder. . . � � ` .
<br /> ! fn ihe event of a tatal ta�ing of the Pmperty,ihe praceeds shal)be applied to the sums seeured by this Securiry� .' `
<br /> ; � i�mtnt,'wHether c�r not t�cn due,witti any excas paid to Bonower_In the event of a partial taking of the Property,
<br /> uitlas Borrower and I.enaer othe�vvi,se agret in writing,the sums secured by this Socurity Instrument shaU be reduced by �
<br /> � � � the amouat of the proceeds multip�ied by the foUowing fraction:(a)the total amaunt Qf the sums secured immediauly
<br /> . � �efore the taking,divided by{b)the fair mazket value of the Property immediateig before the tatcing.Any balance shaU be'
<br /> � ` paid to Horiawer: � . �
<br /> � I�the Propercy is abandancd byF Barrowcr,or if,afcer natice by.Lender to Borrower that the condamnor offers ta •
<br /> � � � mdce an a�vard or settk a claim for damages,Borrower fails to respond to Lender a+ithin 30 days after tkedate the notice is � � _
<br /> , givea,Leader isauthorized to collect andapyty the procoeds,at its opripn,either to'restoration or repair of the Property os . ,
<br /> � to the sums�ed by this Security Insta�tment;whether or not then due. ' `
<br /> � ' , _ � Unless�;a►der aad Honower othetovise agrce in writing;any app}icatioa of proceeds to principal shall not e�`.�ad or
<br /> � � pc�stpone ihe dve date of the monthly payments r�ernd to in paragraphs 1 a�2 or change tha amouat of such pa�-�rats. � �
<br /> I � 10 Bormwer Not Reka�ed; Forbearance By Lender Not a Wairec F.acteasion of the ti�e for payzcc�nt or
<br /> , � modifeation of amortization of the sums secured by this Security Instrument granted by Lender to any succrssor in
<br /> , � f inurest otBarrower ahall not operate to reIease the liability of the original gorrower or Borrower's successors in interes� • .
<br /> _ ; Lender shalj not be requireci to comraence proc�dings agaiast any successor in interest or refuse�o extend time for , � .
<br /> � pat�irsent or otiur�vise modify amortization of the s�secured by this Sesurity Instrument by reason aFany demand rnade
<br /> ( tiq�5e original Borrower or Borrower's successors ia anterest.Any forbearance by I.ender in exercising any right or remedy
<br /> � shall nat be a.waiver of or preclude the exercise of any right or remedy. ,
<br /> ; ii. S�cetfors u�d Assigus Bound;Joiat�aad Sereral Liabifity;Cu-signers. 'E'�:covenants and agreeace�u of
<br /> ; this Security Instcument sha11 bind aad benefit the successoss and assigas,af Ixnder and Borrower,svbject to the pra�;sions '-,
<br /> � of paragraph 17.Borrower s covenants and agreements shall be joint and sevet�l.Any Borrower who co-signs this Security . .
<br /> , Instrument but does not execute the Note:(a}is eo-signing this Security Instrument only to mortgage,grant and canvey . . ,
<br /> � that Borrower•s intertst in ihe Propert�cander the terms of tbis Secvrity Instrument;(b)is not personally abligatect t�pay � . ; "
<br /> ; the sums secured by this 5ecurity Instau�sent;and(c)agtees Yhat Lender and any other Borrower may agree tcs extend,
<br /> � modify,forbe�r or make any ar.�ommodatioris«rith regard to the terms of this 58curity Instrur�ent os the Note without ' - -
<br /> : th3t Borrower's cansen� , -
<br /> � , 12, I,o�Chuges, If th�toan secured h��tli:s Security Instrument is subject to�law which sets maximum 1aan __
<br /> � . char�es,and that taw is finally inurpreted so that t�e interest or other loan chargeg collected or to be collected in
<br /> connecrion with the loan eaceed the psinitted limits. then: (a):any such loan charge s�all be reduced by the amount � •
<br /> � necessary to reduce the charge to the permiited limit;and(b)an�sums already cultected from Barrower which eaceeded , ���
<br />. , � permitted Iimits wiD!be refunded to Horrower. Ler:�er may choose to make�his refund by reducing the principal owed
<br /> under the Note ot by anaki�fg a direct payment to Borrower.If a refund reducas principal,the reduction will be treated as a
<br /> � panial prepayment without any prepayment charge under the Na te
<br /> : � 13. Le�lstatlos ARecting I,en�tr's Righta If enactntent or expiration af applicubte laws�has the�"�t of
<br /> . . rendrring any provlsion of the Note or this Security Instrument unenfotceabte according ta;ts terms,Lender,at its o�tion,
<br /> i . may�require immediase payment in Pull of all sums secured by this SecuritY Instrument and r►'�ay invake any remedies
<br /> � . �ra h 17paragraph 19.IP Lender exercises this optian,Lender shaU take ir�e steps specified in the seeond paragraph of . �• ...,'��
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<br /> � , 14. Notiees. Any noticeto Borrawer provided for in this Security Instniment sha'sl be given by delivering�t er by :� �
<br /> . mailing it�by first class mail unless a�plicabte law requires use of another method. The notice shall be directeci to ahe � .
<br /> � Property�ddress or any�otliet addcess Borrower designates by notice to Lender. Any notice ta I.ender shall be given by ;
<br /> ' first class mail td Lender's address stated herein or any ather address Lcnder designates by nntice to BQnower.Any notice �
<br /> ' ' yravided for in this Security Instrument shall be deemed to have been given to Borrower or Lendcr when given as provided '
<br /> . � . . inthisparagraph. _ . . _ _...._ ._..__ . .. ._ _. .-----------...._. .....-�--�-� -�.. .. .. .... ........ ....-�------.._._...._. .
<br /> � 1S. Governing Iax;Serer�b�Tity. This Security Instrument shall be governed by federallaw and the law of the .
<br /> � jorisdiciion in wbich the Property is located. ln the event that any provision or clause of this 5ecurity lnstrument or the
<br /> Nctt conflicts with applicable law�such conAict shall not affect other provisions ot this Security Instrument or the Note
<br />' which can be given effect without the conflicting provitiion.To this end the provisions of this Security lnstrument and the .
<br /> � � Note are declarcd to be severable. � � ' .
<br /> , 16. �rowK'�COpy. Borrower shall be given one conformed copy of'the Ai4te and of this Secnrity lnstrument. .
<br /> 1�.�Trsnsiu of tlse Praperty or a Beneficiat Inlerest in Bonower. if all nr any psrt of the Property or �r�y
<br /> interest in it is sold or transferred(or if a beneficial interest in$orrower is sold ar transferred And Borrowtr is nnt r�natural
<br /> petson)without Y.ender s prior written consent,Lercder may,at its oplian,rcquire immediate payment iri full of all sums
<br /> secured by this Security Insirument. However,this option shall not be eaercised by Lender if exercise is prohibited by�
<br /> federat law as of th�date of this 5ecurity lnstrument. � . - _--"'"-"
<br /> ' ' lf Lender exetcises this dpiion,Lender sh�ll give Borrower notice of acceleration.The notice shall provide a period , ,
<br /> _ _ . . , af nnt Tess thaq30 daps fram the date the rtniice ic deiive�eei nt mailed within wtrir.h R�rrower m�est�+ay a!!�ctm�sectnec!�y _ .
<br /> � this Secutity Instrument. If Borrower fails to pay these sums prior to the expir�tion of this period.Lender may invake any �
<br /> � remedies permitted by this Security instrument without further notice ar dernand on Horrower. '
<br /> 18.Borrov►e�'s Right to Retestate. If Borrower meets certain conditions.$orrotver shall have ihe right to have
<br /> � enfomement of this Se¢urity Instrument discontinued at any time pridr to the earlier of(a)5 days(or such ather period ac �
<br /> appficable law may specify far reinstatement)befnre sale nf the Property pursuanE to�ny�nwer of sale contained in this
<br /> �,_, Sec'urity lnstrument;or(b)entry of a judgment enforcing this Security Instrutttent.Thuse ronditinns�re that,�orrower: •
<br /> (a)pays Lertder all'sums which then wputd 6e due under this 5ecurity Insttument and the N�te h3d n��scceler�lion `t
<br /> _ aceuned; (b)cure.c any defautt of a»y.other cavenanls or agreements: (c)pays al!expense.4�ncurred in Ynfe�rcing this ��p
<br /> Secutity Instrument,�nciudirig.but not limited tv, reasbnable attorneys fees:and(d)takes such action as Lender snay ' �
<br /> reasonably tequire to assure that th�'lien�f ihis 5ecurity lnstrument. I.ender's nghts in the Propertp artd �orro�xer s � _
<br /> � � oblig8tion to pay� ttie sums secuted by ths*+ 5ecurity� lnstsument shaN-cc�ntinue tutchanged. Upon�reins�tJtement i�y � `�
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<br /> Borrawer,tbis 5ecurity instrument and the obligatipns secured hercby shall rem�in full}�ffectice as if no acceteration had �
<br /> . �ccutred.Nawever,this tight to teinstate shall aoi apply iii the c�.se e�f acccler:�l�un under paragraph�:13 or 17.
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