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<br /> � !f I,ender requtred mortgage insurance as a condu�nn uf'raaking the loan secarcd by this Security lnstrument.
<br /> Bacrower sh�ll pay thc premiums required to m�int�in thc insurancc in eflect until such timc as the rcquicement fbr the
<br /> insurancc termin�tes in accordance witt�Borrower's and Lender's K•sitten agreement or�pplicable law.
<br /> e, la�pectioa. Lentkr or its agent may rnake reuanabls entrics u}son and inspcctians af thc Property. Lendor
<br /> shall gi�•e BarroKer notice at the time of or prior to ao in�pection specify ing reasonable cAUSe for the insnection.
<br /> 9, CaMle�a�tb�. The proceeds Rf any award or claim for damages,direct or consequential.in connection with
<br /> ` �ny condemnatian or c+ther takin� ofiny p�rt of the Property, or fi�r conveyance in lieu of condemnation, are hereby
<br /> ' assigned and shall be paid to Lender.
<br /> i ln the event of a total taking of the Propeny,the procecds sh�p be applicd to the sums secured by this Security
<br /> � Instrument,whethsr or not then due,with any excess paid to Borrower. ln the event of a psnial taking of'ihe Property,
<br /> ; unless Barmwer�nd Lender othetwise agree in writing,the sums secured by this Security lnstrument shall be reduced by
<br /> � the amount of the proceeds multiplied by the following fraction: (a)the total amaunt of the sums secured immediately
<br /> � before the Ukinj,divided by(b)the fair market value of the Propesty immediately before the takipg.Any balance shal!6e
<br /> � paid ta Barrawer.
<br /> , If the Propeny ic aba�doned by Borrower.or if.after notice by I.ender ta Borcawes that the condemnor offers to
<br /> � make an award or settle a claim for damages.Borcower Pails to rospand to Lender within 30 days aRer the date the natice is
<br /> , , given,Lender is authorized to collect and epply the proceeds,at its optian,either to restoration or repair of the Property or
<br /> : to the sums secured by this Sccurity Instrument,whether or nat then due.
<br /> i Unless Lender and Bottower otherwise agree in�rtiting,any applicateon of proceeds to principal shal{not extend or
<br /> � postpone the due date of the monthly payments referred ta in paragraphs 1 and 2 or change the amount of such payments.
<br /> � 10. 8on�ower Not Rekaud; Forbearance 8y I.ender Not � Waire�. £xtension of the time for payment or
<br /> � modi8cation of amonizatian of the sums secured by this Security Instrument granted by Lender ta any successor in
<br /> + lntercst of Borcower shall nat operate to release the liability of the original Bonow•er or Borrower's successors in interest.
<br /> � Lendes shall not be tequired to commence proceedings against any successor in interest ar refuse to extend time far
<br /> � payme�t or otherwise madify amorzization of the sums secured by lhis Secu�ty I�nstrument by reason of any demand made .
<br /> by the origin�l Borrower or Bonowrr's suec�ssors in interest.Any fcxrbearance by Lender in eaercising any right or remed�
<br /> � shal!not be a waiver of or preclude the cxercisc of any right or remedy.
<br /> � ll. SWCCeswr.and Asst�ns Bound;Joint and Serenl Liabiltty;Casignen. The covenants and agraments of- • �
<br /> i this Security Instrument sha1)bind and bonefit the successots and assigns of Lender and Borrower.subject t�the provisions ,
<br /> of paragrAph 17.Borrower's co��enants and agraments shall be joint and several.Any Borrawer who co-signs this Security -
<br /> � Instrument�ut does not execute the Note:(a)is ca�signing this Security lnstrument only to mortgage.grant and convey �
<br /> .-- =i -- - irrai Barrowerss interest in tne�ropeRy ua�er tltt ttrm5 of this Secunty Instrnment;(b)is not personally obligated to pay i -°::
<br /> the sums secured by this Security lnstrument;and(c)agrees that Lender and any other Borrower may agrce to extend, s���
<br /> : modify.forbear or make any accommodations with regard to the tcrms of this Security Instrument ur tho Note without '
<br /> � that�orrower's consent.
<br /> ' 12. I.oan Cl�arga. If the loan securod by this Security lnstrument is subject to a law which sets maaimum loan
<br /> i charges. snd that law is flnally interpretod so that the interest or ather 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 ta 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 choase 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 prepaymeat charge under the Note.
<br /> 13. I.eglslatlon At�eeting Leader"s Rights. lf enactment or expiration of applicahle laws has the etf'ect of
<br /> rendering any provision of the Note ar this Security Instrument unenforceable accQrding to its terms,Lender,at its option,
<br /> may require immediate payment in full of all sums secared by this Security Instrument and may inv�ke any remedies
<br /> permitted bS paragraph 19.If Lender exercises this option,Lender shall take the steps specified in the second paragragh of
<br /> . paragraph IT.
<br /> 14. Notices. Any noiice to Bonower provide�for in this Security Instrument shall be given by delivering it Q�b}- ��
<br /> maifing it by first class mail unless applicable law reqnires use of another method. The notice shall be directed to the ����
<br /> . PropeRy Address or any other address Borrower designates by notice to Lender. Any notice to Lender�hall be given by "
<br /> . first class mai)to Lender's address stated herein or any other addres�s Lender designates by notice to Borrow�er.Any aotice
<br /> provided for in this Security tnstrument shall be deemed to have been given to Borrower or Lender when given as pro�ided :
<br /> ; in this paragraph. •
<br /> � 15. Governing Law;Severability. This Security Instrument shall be go�erned by Pederal law and the law of the
<br /> jurisdiction in which the Pro!+�rty is located. In the event that any provision or clause of this Security Ins:rument or the
<br /> - Note conliicts with npplicabie iaw,such conflict shaii not affect other pravisions of this Security insttument or the Note
<br /> which can be given eftect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br /> Note are declared to be severable.
<br /> 16. Bor�o�ve�'s Copy. Borrower shall be given one conformed cupy of the Note and oi this 5ecurity Instrument. '
<br /> 17. Trsusfer of the Property or a Beneficial Interest in Borrower. lf 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 tra�sferred and Borrower is not a natural
<br /> person)without Lender's prior written consent,Lender may,at its option,require immediate p�yment in fu11 of all sums
<br /> secured by this Security lnstrument. Hawever, this option shall n�t be exercised by Lender if exercise is prohibited by
<br /> federal law as of the date of this Security Instrument.
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<br /> If l,Pnder exercises this aption,Lender shal)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�vithin which Borrnwcr must pay all wmti secured by
<br /> this Security�l�istrument. If Borrowtr fails to pay theye sums prior to the expiration of t�iis period.Lender ma}•�nvoke any :
<br /> remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br /> 18.Horrower•s Right to Reinstate. [f Horrower meets certain conditions, Borrow•er shall have the right to have '
<br /> enforcement of this Security Instrument discontinued at any time prior to thr earlier of:(a)5 days(or tuch other period a�
<br /> L applicable!aw may speciPy for reinstatement)befure sale of the Pro�serty pursuant to any pow•er of sele contained in this ~
<br /> Security lnstrument;or fb)entry af a judgment rnforcing this Security Instrunirnt. Tho�c cnnditions are that A�rro�ver: �
<br /> (a) pays Lender al� sums which then would be due under this Security Instrument and rhe Note had no acreleration a
<br /> occurred; (b) cures any dcfault of any other covenants or agreements: (c) p�yc ail ex�cmz� incurred in rnG,rcina thi� t�•�
<br /> Security Instrument, including, but nat limited to, reasunable attorncy�' fces; and (d) taketi tiurh ar!inn a� l.endcr may �
<br /> reasonably reyuirr to acsure that the lien of thi� Secunty Imtrument. I.ender'� nghtti m thc Pr��perty and Horrr�wcr's , ,
<br /> obligation to pay the tium� ti:cured hy thi� Security Instrument �hali c�nttnuc unch.�nged 1'�+i�n rcin�tatemcnt hy „
<br /> Horrowcr,this SccurUy�In�trumcnt and thc nhhgat�np��trured hcrchy�hall rrrnain full� cffcctnc a�if'n��acrcicratum had
<br /> c�ccurred.Ho���c�•er,thi�r�ght t�reinstate shall n�n apply in the cau��f tic�c•Ier,�ttnn under�nr��:r,�rh. 1.z nr 17
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