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<br /> 104103
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<br /> If Lender required mortgage insurance as a condition of making the loan secured by this Security In•
<br /> strumenr, Borrower shall pay the premiums required to maintain the insurance in effect until such time as a requirement for
<br /> the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br /> R. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br /> give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br /> 9. Cond nination. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> condempation car other taking of any part of the Property, or forconveyance in lieu of condemnation, are hereby assigned and
<br /> shall be paid to, !ender.
<br /> In the cvcnr 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 paid to Borrower. In the event of a partial taking of the Property, unless
<br /> Borrower and Lender otherwise agree in writing, the sums secured by thi Security Instrument shall be reduced by the amount
<br /> of the proceeds multiplied by the following fraair.)n: (a) the total amount of the sums secured immediately before taking,.
<br /> divided by (b) the fair market valv4 of the Property immediately before the taking. Any balance shall be paid to Borrower.
<br /> If the Property is abandonec:i by Borrower,c:r if, after notice by Lender to Borrower that the condemnor offers to make
<br /> an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given.
<br /> Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the
<br /> sums serared by this Security Instrument, whether or not then due.
<br /> Unless Lender and Burro Ner otherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due date of the mofahly payments •eferred to in paragraphs 1 and Z or change the amount of such payments.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> Modification of amortization of rile sums secured by this Security Instrument granted by Lender to any successor in interest of
<br /> Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest, Linder shall
<br /> not be required to commence proceedings againsr any successor in interest or refuse to extend time for payment or otherwise
<br /> modify amortiz, tion of the sums secured by this Security Instrument by reason of any demand made by the original Burrower
<br /> or Borrower's successors in interest. A ny forbearance by lender in exercising any right of remedy shall not be a waiver of or
<br /> preclude the exercisr of any right or remedy.
<br /> 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreer-ems of this
<br /> Security Instrument shall bind and benefit the successors and assigns of Lender and Burrower, subject to the provisions of
<br /> paragraph 17. Borrower's covenants and agreement; shall be joint and several, Any Borrower who co-signs this Security
<br /> Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgige,grant and convey that
<br /> Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the
<br /> sums secured by this Security instrument; and (c) agrees that lender and any other Borrower may agree to extend, modify,
<br /> forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that
<br /> Borrower's consent.
<br /> 12. Loan Charges. If the loan secured by this Security Insn.tmenr is subject to a law which sets maximum loan
<br /> charges, and that law is finally interpreted so that the interest orother loan charges collected or to be collected in connection
<br /> with the loan exceed the permitted limirs, then; (a) any such loan charge shall be reduced by the amount accessary to reduce
<br /> the charge to the permitted limit; and (b) any sums already collected from Burrower which exceeded permitted limits will be
<br /> refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a
<br /> direct p, yment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br /> prepayment charge under rho 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 require
<br /> .mmediatc payment in full of all sums secured by this Security instrument and may invoke any remedies permitted by
<br /> paragraph 19, If Lender exercises this option. Lender shall take the steps specified in the second paragraph of 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 Property
<br /> Address or any other address Borrower designates by notice to lender. Any notice to Lender shall bcgiven by first class mail
<br /> to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in
<br /> this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br /> 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br /> jurisrlicrion in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
<br /> conflicts with applicable law, such conflict shall not affect other proviiions of this Security Instrument or the Note which earl
<br /> be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are
<br /> declared to be severable,
<br /> 16. Borrower's Copy. Borrower shall be given one conformed copy of the Mite and of this Security Instrument,
<br /> 17. Transfer of the Property or a Beneficial Interest in Borrower. If allow any part of the Property or any
<br /> interest in it is sold or t, ;rnsfcrred (or if a beneficial interest in Burrower is sold or traw-ferred and Burrower is nor :a natural
<br /> pcrSon) without Lendcr's prior written consent, Lender may, at its option, require immediate payment in lull of 111 stints
<br /> scc,:u r"? by this Security Instrument. However, this option shall not be exercised by I.ender if exercise is pnahibitr•d by federal
<br /> law as u! iitr• date of this Security Instrument.
<br /> If L.endcr exercises this option, i.ender shall Rive Burrower notice of acceleration. The notice shall provide a peritkl of
<br /> not less than ihdays from the date the notice is delivercd or mailed within which Borrower roust pay all sums secured by this
<br /> Security Instrumcnt. If Boc i--ver fails to pay these sums prior to the expiration of this period, Irndcr may invoke any
<br /> remedies permitted by this Sec,: <<v Instrument without further entice or demand on 1lrtrrower.
<br /> 18. Borrower's Right to 1lctw.i,,te. If Borrower filters certain conditions, harrower chill have the rif;hr to have
<br /> enforrement of this 5ectirity ltastrurnent dl,: ntinued at any tittle prior to the earlier of: (a) 5 days (or such other 1vtia,d as
<br /> applicable law may specify for reinstuternent) bcf,urt- Sale of the Property pursuant to any power of sale cunrained in this Se•
<br /> curity Instrument; or (b) vilify of a judgmirnt enforcuaig this Security Instrument. 'Chose conditions are that Borrower: (a)
<br /> pay- Lender all sums which then would bedue under thh'security Instrument and thv Note had no acceleration occurred; (h)
<br /> curls any default of any other convenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument,
<br /> including, but not limited to, reasonable attorneys` fees; and (d) takes such action as Lender may reasonably require u, a%.
<br /> stare that the lien of this Security Instrument, Lender's rights in the Prop(: and Bormwer's obligation to pay the sums
<br /> secured by this Security Instrument shall continue unchanged. Up om reinstatement by 1 ontuwer, this Security lnsrrurnent
<br /> and the obligations secured hereby shall remain fully effective as if no acceleration occurred. However, this right to
<br /> reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.
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