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<br />89- 1a14�0 8
<br />If Lender required mortgage. insurance as a condition of making the loan secured by this Security Instrument,:
<br />Borrower shall pay the.p €emiuma-required to maintain the insurance in effect until such time as the requitement far tba
<br />insurance terminates in accordance with Borrower's and Lendees written agreement or applicable law.
<br />S. laspectioa. Lender .ouits agent may make reasonable entries upon and inspections of the Property. Landtn: -
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9 COidainatim, . The,proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or,othbr taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shalt be paid to Lender. .
<br />In the event of tart taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />T t, whether or not *= due, with any excess paid to Borrower. In the event of a partial taking of the Propsxt°1a.:;
<br />unless Bormwvr and Lefteptherwise agree in writing, the slims secured by this Security Instrument shall be rediieai:byc,
<br />the amount. -of the proceeds, ':�pl ed by the following faction: (a) the-total amount of the sums secured immcdiaielu-:
<br />before the taking, "do& bn (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />to Borrower.
<br />If the Propertris abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor afferr, to.'
<br />hake an award or settle a.clAim for dataages, Borrower fails to respond to Lender within 30 days after the date the notice ifr<
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair ofthe Proverri ass
<br />wn the sums secured bythis Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to prig bpd shall not eawnd �r
<br />�',pone. the _due date of the monthly :payments referred to in paragraphs 1 and Z or chat cote amatimt of such paym a"M
<br />1r, 4*wwwer, Note Relea 1%Arearaace By Leaden Not a Wafter. Extea cf the time for paymitat or
<br />modificatm of amortization of :ha .ss secured by this S+e=nty Instrument granted by t ender to any suece.Mr in
<br />interest of Borrower shall mat operate to release the liability off the original Borrower or Borrowees`snccesscrs iii iutimut. .
<br />Fader shall not be required to, commence proceedings against any successor in interest or mire to extend .times far
<br />m meat or otherwise mots y amortization of the stuns secured by this Security Instrument by reason of any demand grade
<br />by the original Borrower or Borrowers successors in interest Any forbearance by Lendesi m exercising any right or remady
<br />shall not be a waiver of or preclude tbetzercise of any right or remedy.
<br />IL Soccessers and Anus fts4 Joint aid Several Idabflity; Co- alpueas. The covens m and agnmmants of
<br />this Security Instrument shall bind and benefit thr9woessors and assigns of 3<.r.tder and Borrower, suhletmta the psm idons
<br />of paragraph 17. Borrower's cover=ts and agreements shall be joint and several. Any Borrower who a signs thin Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Inswment only to mortgage, grant and crAvey
<br />that Borrower's interest in the Prope:ty under the terms of this Security Instrument; (b) is not personally cbliguuxi to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agm>re to • extend,
<br />modify. forbear or make any accommodations with regard to the terms or this Security Instrument or tIte Note without
<br />that Borrower's consent
<br />12. Loran CltargcL . If she Isar: secured by this Security Instrument is subjea to a law which sets manimum loan
<br />charges. and -that,law is finally intwliveted'so that the interest or other loan chatTes collected or to be .collected in
<br />connection with the Ion exceed the permitted limits, then: (a) any such loan charge shall be reduced by%the amount
<br />rAcessary to reduce the charge to the permitted RmE� t; and (b) any sumps already collected from Borrower which exceeded
<br />remitted limits will be refunded to &mower. Leader may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct M- meet to Borrower. U& refund reduces principal, the reduction will Abe treated as a
<br />partial prgsyment without any prepayment charge under the Mote.
<br />13. Legislation Aliectiag Ltidees RISW If enactment or expiration of applicable laws has the. c:Qixx 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 sums secured by this Security Instrument and may invake any remedies
<br />permitted 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 />trailing 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 chase mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for ire: this Security Instrurt=t shall be deemed to hire been given to Borrower or Lender when given as provided
<br />in this paraJa.
<br />113. Governing Laze; Sevecalu U ty. This Seaahty instrument shall be governed by federal law and the law of the
<br />luxisdiction in which the Pmpr rry is located. In tha amt that any provision or clan w of this Security Instrument or the
<br />Note confiiats with applicable law, smc h conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without &,e conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16 BorroweeS Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Tinder of this Property or a Beneficial Interest in Borrower,. If all'or any part of the Property or an
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not d natural
<br />person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Inswment.
<br />If Lender exercises this option. Lender shall give Borrower notice of•aceeleration. The notice shall provide a period
<br />of not less than 30days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. IPBorrower 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 />IS. Borrower's Right to Relwate. 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 of. (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:
<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 to, reasonable attorneys' fees: and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument, Lender c nghts in the Property and Borrower's
<br />obligation to pay the sums secured by this Security Instrument shall continue unchanged. upon reiritaternent h9.
<br />Borrower. this Sccunty W- trument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred However. tOv. nght to reimiate shall not apply rib the c sN of � ceterati.�n audit paraCr :rFh. ' r i "
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