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<br /> It lender re uir mortgage inaurarice as a.crnxfitivrt°at ntakirtp ttxe fq t saCttti i t this! Sfutit Ana tmrartt,
<br /> 13cirrower shall pay.the premionva rewired to maintain the hisvrethm in effie uritits.dch tdi "as the reclukement for Ow"
<br /> insurarire terminates in accordt4nm with Borrower's and LeriaePts wrltien agreernBtirC.or Jjj,: iti~b law. "
<br /> tie. sm 4mmIk i9. Lender or Its agent may make reasonable entries:OPQn and tnsP tJWJS of the Property. Lender
<br /> shall give Borrower. notice at the time *f or prior to an inspection speclfying rea60riable, ceW)e fdr the irupection.
<br /> 9. ' ICondoptmftfr The proceeds of any award or claim for damages, direct or consequential, in connection with
<br /> any condemnation or other talking of any part of the Property• or for conveyance in lieu ref Condemnation, are hereby
<br /> assigned aad shall be paid to Lender.
<br /> In the event of a totel taking of the Property, the proceeds Shalt bme applied to the sums secured by this Security
<br /> Instrument. whether or clot then due. with any excess .paid to Borrower, to they event of',a partial taking of the Prop".
<br /> unless Burrower and tender otherwise agree in writing, the sums secured bythis Security Instrument shall be reduced by
<br /> the amount of the proceeds multiplied by the following fraction- (a) 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 be
<br /> paid to Borrower.
<br /> If the Property is abandoned by Borrower, or if, after natlce by Lender to Borrower that the condemnor offers to
<br /> make an award or settle a claim for damages, Borrower fails to:'espond to Lender within 30 days after the date the tiotice is
<br /> given, tender 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 and 2 or change the amount of such payments.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waterer. Extension of the time for paymant 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 tf;e liability of the original Borrower or Borrower's successors in interest.
<br /> Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br /> payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand
<br /> made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or
<br /> remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 11. Sucessors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this
<br /> 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 several. Any Borrower who co-signs this
<br /> Security instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and
<br /> convey that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personalty obligated
<br /> to pay the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower may agree to
<br /> extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note
<br /> without 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 final!y interpreted so that the interest or other loan charges collected or to be collected in
<br /> connection with the loan exceed the premitted 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 afready 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. It a refund reduces principal, the reduction will be treated as a
<br /> partial prepayment without any prepayment charq_e under the Note.
<br /> 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering
<br /> any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may
<br /> require immediate payment in full of all sums secured by this Security Instrument and may invoice any remedies permitted
<br /> 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 m,?il to lender'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 paraaraph.
<br /> 15. 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 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 confcrmed copy of the Note and of this Security Instrument.
<br /> 17. Transfer of the Property or a Beneficial Interest in Borrower. It all or any part of the Property or any interest in
<br /> it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)
<br /> without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums secured by
<br /> this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of
<br /> the date of 'his 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 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br /> this Security Instrument If Borrower fails to pay these sums 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 /> 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br /> enforcement of this Security instrument discontinued at any time prior to the earlier oP (a) 5 days (or such other 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: (1)
<br /> pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred:
<br /> (b) cures any default of any other covenants or agreements: (c) pays all expenses incurred in enforcing this Security
<br /> instrument, including, but not limited to, reasonable attorneys' tees: and (d) takes such action as Lender may reasonably
<br /> require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay
<br /> the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security
<br /> Instrument and the obligations secured hereby shall remain fully effective as it no ac-eleration had occurred. However,
<br /> this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.
<br /> Pan T M NBA,; 13s91
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