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<br />89-- 100101
<br />If Lender required mortgage insurance as a condition of making the lean secured by this Security Instrument,
<br />! Borrower shall pay the premiums required to maintain the insurance in effect untilisuch time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement; or applicable law.
<br />8. Inspection. Lender o.6ts agent may make reasonable entries upon ant inspections of the Property. Lender
<br />shall give Borrower notice at the timme of or prior to an inspection specifying reasonably, cause for the inspection.
<br />9. Cwdemandon. The proceeds of any award or claim for damages, direct. or consequential, in connection with
<br />any condemnation or other taking, of any pact of the Property, or for conveyance in lieu of 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 suns secured by this Security
<br />Instrument. whether or not then dwi. wit h mrty excess paid to Borrower. In the event of a ptrd tl taking of the Property,
<br />unless Borrower and Lender otherwise a pa in writing„ the sums secured by this Security Instrument: shill be reduced by
<br />file tmnunt of the proceeds mmaltn Asp• the following fraction: (a) the total antount of the mnis: strand immediately
<br />�iae wz rbe taking, divided by (b) the fair marleet value of the Property immediatelli,before the taking. Any balance shall be
<br />*d tie Borrower.
<br />'If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim fordamages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 ands or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Welver, Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Bonrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any succewwr in interest or refuse to extend time for
<br />payment or otherwise modify amr.4lization 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 precludd the exercise of any right or remedy.
<br />II. Successors and Assips Bound; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and seven'. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the PYoperty under the terms of this Security Instrument; (b) is not personally obligated to pay
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<br />modify, forbear or make any accommodations with regard to the terms of tWs Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. 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 collected in
<br />connection with 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 limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to malk 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 />partial prepayment without any prepayment charge under the Note.
<br />I& Legislation Affect:idg Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its. terms, Lender, at its option,
<br />may require immediate payment in full. of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall talie the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Bormwei provided for in this Security-Instrument shall be given by delivering it ar. by
<br />mailing it by first class mail unless applicable law requires use of anothbr method. The notice shall be directed to the
<br />Property Address or any other .address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lenders address stated herein or any other address Lender designates by notice 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 />1S. Governing Law; Severability. This Security Instrument shrill be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any pravision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or the Note
<br />which 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 severabld,
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Bornuwer. If all or any part of the Property or any
<br />interest 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, However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Leader, shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date tree notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If ltrr ovkr fav1s to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Secsrit j,','! [st:rument without further notice or demand on Borro%-er.
<br />18. Borrower's Right to RelzstaM If Borrower meets certain conditions, Borrower shall have the right to• have
<br />enforcement of this Security Instrutent discontinued at anytime prior to the earlier of: Ca) $ days (or such other period as
<br />applicable law may specify- for reinstatement) before: dale of•the Property pursuant to any pcaer of sale contained in this
<br />Security Instrument; or (b) entry of .a iudgmeat enforcing this Security Instrument. Those rrinditions are that Borrower:
<br />(a) pays Lender all sums which theca vtnuld be due under this Security instrument and .the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but- not limited to, reasonable: attomeys' fees; and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument. Lender's rights io the Properly and Borrower's
<br />obligation to pay the bums secured •by this Security instrument shall continue unchanged. Upon reinstatement by
<br />Borrower, this Security Instrument and the obligations secured hereby, shall remain fully effective as if no acceleration had
<br />occurred Iloaever. this right to reinstate shall not apply r Iwo under paragraphs 1 Am 17
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