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<br />8 9 '401460
<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 insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />4. Condemnation. The proceeds of any award or claim for damages. direct or 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 or not then due. with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums 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 Borrower that the condemnor olio to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lendw vnthin 30 days after the date the ntitib:.i
<br />given, Lender is authorized to collect and apply the proceeds, at its option, eitheria:restoration or repair of the Propeirry or.;:
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and B•ezrower otherwise agree in writing, any application of proceeds to principal shall not exteiid c. '
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such paymeMs.
<br />10. Borrower Not Released; FoHe karance By Lender Not a Waiver. Extension of the time for payment 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 the 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 amortizatiom of the sums secured by this Security irs°rLment by reason of any demand tirade
<br />by the original Borrower or Borrowers successors in interest. Any forbearance b-v Iend er in exercising any right or reti*y
<br />shall not be a waiver of or pr=!Ld,'e the evrzcise of any right or remedy.
<br />11. Successors and Aass;gns•lgomd; Joint and Several Liability; Co -sigp rs. The covenants and agreements of
<br />this Senaity Instrument sha:IE lb,. rd itid berarM the sucrn, ssors and assigns of Lender and Borrower, subject to the provdde -ns
<br />of pa w °aph 17. F�_-,rrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Seem ity
<br />Instrument but -dvs ;tot execute the Note: (a) is co-signing this Se- .�Aty Instrument only to mortgage, grant and convey
<br />that Borrowees sy:erest in the Property under the terms of this Sesr xy Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Under and any other Borrower may agree to extend.
<br />modify, forbear or make any accommodations with regard to the teams of this Security Instrument or the Note without
<br />that Borrower's cLn -.sent.
<br />12. Loam Cbarges. If the loan secured by this Security In-trument is subie.l rb .= law which sets maximum Iguan
<br />charges, and the Uw is finally interpreted so that the interest or other loan iarzrps 'collected or to be collinlot in
<br />connection with the loan e=W the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />nos.^;+ to reduce the char!r to -die permitted limit; and (b) any sums already collected from Borrower which cxce�deld
<br />icem :7ed limits be refunded to Borrower. Lender may choose to make this refund by reducing the principal f1wed
<br />• s:�3er the Note o7r ;y making a direct payment to Borrower. If a refund reduces principal, the "uction will betreatai ms a
<br />, partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rerda-lang any provision of the Note or this Security Instrument unenforceable according to its terms. Lender. at its option,
<br />t:tar re; wire immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by par s.0 aph 19. If Lender e} erases this option. Lendershall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any lictlic, to Borrower provided for in this Secunty fiist nameni shall be given by dehN Bring it or by
<br />maih.rig ii by first class mail. unless applicable law requires use of another ir.:,had. The notice shall tk: directed to the
<br />Property Address or any odic. address Borrower designates by tinticaro Lender. Any notice to Lender Omtl be giver by
<br />first class mail to Lender's address stated herein or any other addttns Lr,�,,der designates by notice to Borrowwer. Any not ice
<br />provided for in th6Sci;urity Instrument shall be deemed to have been giver, to Borrower or Lender when gig et;. m pro.; idexi
<br />in this paragraph.
<br />15. Governing Law; - everubility. This Security Instrument shall be governed by federal law and, tile fa .v of t he
<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 wish applicable law, such conflict shall not affmt other provisicns of this Security Instrument or the Note
<br />which can be ghee 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 conformed copy af the Note and of this Security instrument.
<br />17. Transfer of the Property or a Beneficial'Interest in Burrower. If all or any part of the Property or any
<br />interest in it is sold ortransferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />Person) without Lender's prior written consent. Lender may, at its apy :on, require immediate payment in full of all sums
<br />secured by this Security ln:;trument. However. thn- option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrurrsnt:
<br />If Lender exercises this option, Lender shall jive 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 />It Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to hate
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days for such tither period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any hotter of sale contained in this
<br />Security Instrument: or {b) entry of a judgment enforcing this Secunty Instrument. Those condltruns are that Narrower.
<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, re► pays all expense. Incurred In cntolcink this
<br />Security Instrument, Including. but not limited to, reasonable attorneys fees: and (d) rakes such action cos Lender prey
<br />reasonably require to assure that the lien of this Security Instrunrerit. Lender "s right-, In the Pri petty end 1loit «ucr'ti
<br />obligatuar to pay live sums secured by this Security Instrument shall continue un. hanged Upon renislatement ht
<br />13i,rrottcr. this Security Irlstrurnent and the obligattankwcured hereh o shall rernalu frilly cite, tltc .is ,I,, ak celef tirt h..J
<br />Oc� utred Hotteser, thmright to rem%tatesha st llnot apply in the ca o o
<br />f au elcrahtur mater paraefill,11, I t of 1"
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