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8901333
<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 insufarree in erect- untif,such time as the rcggircment for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreetrign►ior applicable law.
<br />8. Inspection. Lender or its agent, may make reasonable entries upon. and inspections of the Preperty. Lender
<br />shall give Borrower notice at the time of or pr*:or 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 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 cr not then due. with any excess paid to Borrower. In the evert of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sutras secured by this 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 notice by Lender to Etirrawer that the condetrrnor offers to
<br />make an award or settle a claim for damages, Borrower faits to respond to Lender within-30 days after the :late the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either. te- r:storation 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 I and 2 or change the srro wt Of such paymsers.
<br />.10. Borrower Not Released; Forbearance By lender Not a Waiver. Extension of the time for payment or
<br />modification of ainertizaticn of. the sums secured by. -Ois Security Instrument granted by Lender to any successor in
<br />ini�tt+ t.of Borr'awershall net. o(rsrate to release the liability of the original Borrower or Borrowers successors in interest.
<br />Lender shall not,-be required 1t+a,- eommence preccedings against any successor im interest or refuse to extend time for
<br />payment or otherwise modifY,4thortiaation of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Bormwer or Ui7rmwer's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or precliule the exercise of any right or remedy.
<br />11. Successors and Asdgns Bound; Joint and Several Liability; Co- signers, The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the
<br />provisions
<br />of paragraph 17. Ebrrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note. Gr.1- is co- signing this Security Instrument only to mortgage, grant and convey
<br />t teat Borrower's interest in the Property under the terms cf this Sectinty Instrument; (b) is not 1xrsonally obligated to pay
<br />the seJms secured by this Secue;a} Instrument; and (c) jAr_es That Lender and any other Borrower may agree to extend,
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<br />modify, forbear or make any aLwmmodations with regard to the terms of this Sa:urily Instrument or the Note without
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<br />that Borrower's consent.
<br />12, Loan Charges. If the loan secured by this Security Instni ment is subject to a law which sets maximum loan
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<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
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<br />liccessary to reduce the charge to the permitted limit; and (b) any sums already "collected from Borrower which exceeded
<br />pernitt ed limits will be refunded to Borrower. Lender may choose Nt 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 refection will be treated a:, 3
<br />pa;rn,:a! prepayment without any prepayment charge under the Note.
<br />LS. Legislation Affecting Lender's Rights, If enactment or expiration of Grrli:�s�_e 'a-as 1%B the effect of
<br />readering any provision of the Mate or this Security InEtn ument unenforceable according to trs to :ins, Leo, -6,,w its
<br />at option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invc;kz any remedies
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<br />permitted by paragraph 19, If Lender exercises, this option, Lender s`.211 take the steps specif d Eo. the second paragraph c6
<br />paragraph 17.
<br />14. Notices. Any not" ;e 6:, Borrower p: �.: c�J- ter i t this S:e : -ity Instearnent shall be given by deiieering it or by
<br />mailing it by first class mail un1rx9 applicable law re ;.jm-s use cf Wither method. The notice shall be directed to the
<br />Property Address or any other address Borrower desib:.�ws by to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any ot.ry :r address Lender designates by notice to Borrower. Any nor.:,
<br />provided for in this Security Instrument shall be deemed; ro have been given to Borrower or Lender when given as provided-
<br />in thi, paragraph.
<br />15. Governing Law; Se ver atbility. This Secun-ty histrument shall be governed by federal law ar... rl,;: law of the
<br />juri-,La.-rion in which the Property is located. In the evo.it that any provision or clause of this Security i 16t;ru_nent or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security lnstruae. t or the Notes
<br />which can be given affect without the conP=cting provision. To this end the provisions of this 5-,urity Instrument and mar_
<br />Note are declared to be several :le.
<br />EtS Borrower's Copy. Borrower shall be given. ore conformed copy of the Note and of tKi, Sec ia:7.ty Instrument.
<br />17. Transfer of the Property or a Beneficial rriu est in Borrower. If all or any part c. the i1truYerty or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred ard.13,, r,, >t a n.al ub
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate pa; meat ire f-uf' ,-,: M1 sons
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise �s- rr-•itihilo
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall gi,,e 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 Instrumenti, without further notice or demand on Borrower.
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<br />M BOrrOweer. Right to Reinstate. - -1;° 13 +11'1 owLt' nteets certain conditions, Borrower shall have the right to have
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<br />enforcorient of this Security Instrument disconuitux-+d at: any time prior to the earlier of (a) 5 days (or such other penod as
<br />applicable law may specify for reinstatement) hetr;ny --ale of the Property pursuant tit ally power of sale contained in this
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<br />Security Instrument; or (h) entry of a judgment enfor_ing 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 :di expenses incurred ur enforcing this
<br />Security instrument, including, but not limited to, reasonable attorneys' fees: and (d) take%
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<br />much actnm as Lender may
<br />reasonably require to assure that the lien of this Security Instrument, Lender's right,; in the Property and 13,mrrower %
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<br />obligation to pay t?.e sums secured by this Security Instrumett %hail •conhture unchanged Upon rerrtctaternent by
<br />fiorrower, thi% Security Instrument and the obhgahonq secured hereby shall remain fittiy e(tectne a% tf rain n�; elcraummn had
<br />or curred flowevet, this right to retnstatc shall not apply tit the case rat ucceietatton under paragraphs I t c+r 17
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