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<br />if Lender required mortgage insurance ac a condition of tnak►ng the loan secured by this Security instrument,
<br />(� Borrower shall ray the premiums required to maintain the insurance in etTivt until such tinge as the requirement for Cate
<br />1
<br />insurance tetruinates to accordance with Borrower's and Lenders written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Freperty. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in
<br />connection wish
<br />any condemnation or other taking of any part 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 sums secured by this Security
<br />Instrument, whether or not then due, with any excess to Borrower. In
<br />paid the event of a partial taking of the Property.
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the arznount of the proceeds multiplied by the following fraction: (a)
<br />the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall 0; -
<br />paid td 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 for damages, Borrower fails to Lender
<br />respond. to within ?P days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds; at its. option, eith.Grrra,;eSto aticm c?r repair of the Property era
<br />to the sums secured by this Security Instrument, whether or qot then due.
<br />Unless Lender and Borrower otherwise agree iii cyriting,. any applicatiarit O proceeds tv principal shall not extend ti UT
<br />postpone the due date of the monthly payments referred to in Pamal,,rt(ks 1 aMd.2 or change clze amount of such paymem:ts.
<br />10. Borrower Not Released, Fbibemitce By Lender. Nat: a Waiver. , Extension of the time for payment or
<br />modification of amortizatio.-. e the sw!'1a.secured Dy 'ribis Security Instrument ;granted by Lender to atTy successor, in
<br />intereat of Borrower shall not operate to release die IiiabOity of the original Borr. nvrier or Borrower's successors in interest.
<br />Lender shall not be required to commetace 1+>i VVWRs4s against any. succesccir, cn interest
<br />or refuse to extend time f.ibir
<br />payment or otherMse modify amortization. 6f~ ,he sumsrecured by thN!Securit� Ift'strument by reason of any demand mare
<br />by the original Borrower or B rower's successors itt fixtcrest. Any�farbe*ratcce lay: Lender
<br />in exercising any. right or remedy
<br />shall be a waiver ofor preclude the exer+ciise ofafiy� tig)it or remedy.'.
<br />11. Successors and As ' s Bound; uud; Joint ttitd- Several Liability; Co•sigtsem The covenants salt agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of lender Borrower,
<br />and subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint several. Any Borrower who co -signs this Security
<br />;�.
<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 Property under the terms this Security
<br />of Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify; forbear or make any accommodations with regard to the term% of this % -Urity Instnemerst or the A.+atc witlioi;t
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<br />teat ftorrower's consent.
<br />12. Lout 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 make 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
<br />a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting 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 take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall 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. Any notice to Lender shall be given by
<br />first class mail to Lenders address stated herein or any Lender
<br />other address 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 />13, 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
<br />event that any provision 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 severable.
<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 Borrower. If all or any part of the Property or any
<br />interest
<br />in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nbt 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 b- enkercised by Lender if exercise is prohibited by
<br />federal taw as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 ¢lays from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />T
<br />this Security Instr6arent. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any
<br />rertxesl6e5permitfed.iiythis SeCtarity Instrument without ('urrher notice or demand on Borrower. '
<br />Ill: Borrower's Right to Reinstate. if Borrower meets certain conditions: Borrower shall have the right to have
<br />j. Lento. cement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such of her
<br />- as
<br />period
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any poser of sale contained in this
<br />Security mahsttI or (b) entry of a judgment
<br />V
<br />enforcing this Security instrument. Those conditions are that Borrower:
<br />Lend
<br />(a�,pays Lender all sums wlaseh then would be due under this Security Instrument and the Note had no acceleration
<br />`cc4mred;
<br />(b) cures any defauir of any other covenants err agreements; (c) pays all expenses incurred in enforcing thr%
<br />S• curity instrument. including, but not limited to, reasorable attorney%' fee %: and (d) takes such action as Lender may
<br />reasonably
<br />r+
<br />require to assure that the lien of this Security instrument, 1_cnder's rights in the Property anti Borrower',,
<br />obligation to pay the %urns secured by this Security Instrument %11,111 continue eutchartged. Upon reinstatctucnt by
<br />Borrower, this Security in%trument and the obligat:one %ccured hereby shall remain fulls effective a% if no acceier;rtron h,ul
<br />incurred If(,Aever, tht% right to retn%tate shall it of apply to the caw of
<br />acc•eleratlot) aniftr pa 1.11, raph'. 1 z or 17
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