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<br />89- 100875
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such 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 or its agent may make reasonable entries upon and inspections of the Property. 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, director consequential. in connection with
<br />any condemnation or other takjnt -of any part of the Property, or for conveyance in I-,eu of condemnation, are hereby
<br />assigned and shall be paid to Lender.,
<br />In the event of "total taking of the Property, the proceeds shall be applied to'i }me sums secured by this Security
<br />'barument, whether or n6i then dm with any excess paid to Borrower. In the ev"tfit i a 0 E1W., ing of the Proj:!Er f.
<br />unless Borrower _and-jl trtd .itherw(se agree in writing, the sums secured by thid viii i+ �ri»tieti! shall,be rtYiu cf l r .; ':
<br />the amount o th;e)SM ie ts'tnrlti. by the following fractiea- (a) the total, :A ttaum� rtlte sums secured irnatyr rt Iy
<br />:before thrrtekl*g ciixiaiei: .by (b)thm- 6drmarket value of the Perepwty irntit4itelvbe0lr the taking. Any balaticeshA be
<br />paid to Boribwer. . -
<br />. If the Property-i$,baindoned by Borrower, or if, after nolfce 6y Ltmder to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower faits to respond to 'Lender within 30 days after the date the nonce is
<br />given. Lender is authorized to colleetirnd apply the proceeds. at its option, either tip Tec'z oration or repair of the Property or
<br />to the sumssecured by this Securitj►It,t<irument, whether or not then due.
<br />Unless Lender and Borrowerbderwise.agiee in writing, any applica ion of proceeds to principal shall not extend or
<br />postpone the due date, tithe monthly paymentstdierred to in paragraphs lend Z or change the amount of such payments. .; . .
<br />10. Borrower la ate Relea vwh surbxuance By Uade< 'mot a Waiver. Extension of the time for payment or
<br />modification of amtt jne "-ms secured by this Securay instrument granted by Lender to any suoD ssor in
<br />interest of Borrower shays ;tct opetan. to release the liability of O e arghial Borrower or Borrower's successors in interest.
<br />Leader shall not be regr�; eed-t6 commence proceedings againsit any successor in interest or refuse to extend time for
<br />payment or otherwise in . 4 amortization of the sums secured icy this Sec, i'-_y Instrument by reason of any demand made .
<br />by the original Borrower or Sorrow er's successors in interest. Any forbearar_,-:.e by Lender in exercising any right or remedy
<br />shall ntit br a waiver of or preclude Om exercise of any right or remedy.
<br />114 Successors and Assigns land; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind andbenefit 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 several. Any Borrower who co -signs this Security...
<br />Inurament but does not execute the Note: (a) is cosigning this Security Instrument only to mortgage, grant and convey
<br />thial iorro+r!-'s interest in the Property under the terms of this Security Instrument; (b) is not personally obligs?ed to pay
<br />the sums stw r, d by this Security Instrument; and (c) agrees that Lender and any other Borrower may agrm to extend,
<br />rr/dify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Not: 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 c`targes 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 a
<br />partial prepayment without any prepayment charge under the Note.
<br />13, Legislation Affecting Lender's Rights. If enartment or expiration of applicable laws has tyre 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 sans secured by this Security instrument and may invoke any remedies .
<br />permitted by paragraph 19. If Lender exercises thus option, Lender shaD t:a_ke 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 Lerde. *'s 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 />15. Governing Law; Severability. This Securit_. Vinstrument shall be governed by federal law and the law of the
<br />jurisdiction tit wih .,dv the Property is located. In the event that any provision or clause of this Se- ,laity lnstrurn or the
<br />Note conflicts a^th applicable law, such coniiicr. not affect other provisions of this Security Lnstrument or to ;,.cite
<br />which can be given effta without the conflictzn, p: dtis::on. To this end the provisions of this S..uhty Instrument and th
<br />Note are de.-tared !o be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security !r,:�crmrrtte:-at.
<br />17. • T=nsfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or ang
<br />interest in ii .s sold u. transferred (or if a beneficial interest in Borrower is sold or transferred and Dorroster is not a natunal
<br />person) Lcr Fir's prior written consent, Lender may, at its option. require immediate payment in full of all suer.:"
<br />secured vn tr:is Security Instrument. However, this optior shall not be exercised by Lender if exercise is praNbited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give H. +rrower notice of acceleration. The notice shall provide a period
<br />of not less than 30da- -s from the date the notice is delivered or mailed within which Borrower must pay all sums securest by
<br />this Security Instrument. if Borrower fails to pay these s:rs prior to the expiration of this period. Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />ill, Borrower's Right to Reinstate. if Borrower moms certain conditions. Borrower Shall have the right to 4avc
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of. (a) 5 days (or such tither period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would 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 tri, reasonable attorneys fees, anti (d ii take such action as lender may
<br />reasonably require to assure that the lien of thug Security Instrument. Lender', rights in the Property and borrower's
<br />nbhgatlnn Yo pay the sumo secured by thm Security" instrument small continue unchatt_rci 111-r ten1vtatenh:ut by
<br />llnrrnwer. the: Sctunty instrument and the ohligatanne secured hereby shall tenant fulls. rtrette'r as if n:- as cteratn.n had
<br />Otcureed Hr +nicer. this tight n+rein%tate shell tint apply in the t arc 4.1c •elerattr.n nruier p.ragraph+, i ; +•r i'
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