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89 ' 101469
<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 itiiurance its effect ctutil such time as the requirement for the
<br />insurance terminates in accordance with Borrower whiid:'LendWs written. agreement orapplicable law.
<br />& Inspection. Lender or its agent may.'inakc;hWsniisbl. e.erttpes*..u(Sraii'z d inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior ir:'4W..t`�ign sp cif d ng,► c .N$* cause for the inspection.
<br />4; Condemnation. The proceeds draiiy ur ca sequential, in connection with
<br />any condemnation or other taking of ally::.rt of t£ip ?> t j;;;rst iiyti'L : pie orb: is lie¢ of conderr:nation. are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property;•:Fte proceeds shall be aiiihad 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 tak_Eng ofthe 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 mqr n-4-0 ; .:the following fraction: (a) the total amount of the sums secured imme&e.1-eiy
<br />before the talE 'nom, divided b tb) the n .=ket value of the Property immediately before the taking. An • dance shall i e
<br />3 Y .. F pe Y• Y 8 y
<br />paid to.Borsawer:-
<br />.: Ii°the -l'r mrty is abaaid aid by Ii�q:•rower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />T tdti awar lorsettle a claim'ibrdarmom Borrower fails to respond to L. -.rider within 30 days after the date the notice is
<br />gi rd, Lendei is:authorized to collect azirJ suety the proceeds, at its option. either to restoration or repair of the Property or
<br />to tkeriuttts seiraftA by this See #1y instrtt, whether or not then due.
<br />Unless Lender and h3ort+awer of ec,Rrise agree in writing, any application.n,.fp.roceeds to principal shall not extend or
<br />postpone the due date of the e� zhlti tF- vA -,% nts referred to in paragraphs. 1. acrd Zqr, change the amount. o; such payment .
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<br />10. Bdhower Not kilvai s . IGAP rance By Lender boil r.4Vt isr ti- ,—ns,on of the time for payr -,�nz o;,
<br />modification of amortizatici of the suu s secured by this Secusii hivrwtenm grwncd tti Lender to any suc:cess,^.T 'i:s
<br />interest of Boaowrl shall n... zperate0 r.. ease thtw liability nft�t+? wfii{ ia*a�` vrm��':r orlSc�rrower's succes;irsin in eresi _
<br />Len, sha?l� nae be requi ad' t o commence. proceeds ieg ii Wjit -My; tji :+� r ;in. nferest or ref tz �'cnd' time' for "
<br />payTnent or o eririse modiFyi ariortizatior� of the sutiss+ iii � I7if9.Y C l fl r'' w c merit by reason of a+,*_y demand ma to
<br />by the original Borrower or Borrower's successors in interest. An-y >i eider ir, ezercisrng any right or remedy
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<br />shall not be a waiver of or preclude the exeTcise of any right or rcmtixi },
<br />11. Successors and Assigns Bound; Joint and Several Li>it6liW; Coffers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower.. subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements 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 mortgage. grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument: (h) is not p4rsonally obligated to pay
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<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Bnrrower'sconsent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<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 t;e reduced by the amount
<br />necessary to 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 choose 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 p:>rincipal, the nMuction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. if enac})ltutt or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable a:4,,�ttrding to its terms. Lender. at its option,
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<br />may require immediate payment in full of all sums secured by this Security Nstrument and may invoke 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. NoNug. Any notice to Borrower provided for in this Security Instrument shall I *.e given by delivering it or by
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<br />mailing it by first class mail unless applicable law requires use of another mediod. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Linder. Any notice to lender shall be given by
<br />first class mail to Lender's address stated herein or any other add re- :i Lender designates by notice to Borrower. Any notice
<br />provided for in thi Security Instrument sl,,,ll be deemed to have ba!u given to Borrower or Lender when given as provided
<br />in this paragraps.
<br />IS. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<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 with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which call be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />infer -w in it is sold or trans,(—,rc4 (or if a beneficial interest in Borrower is sold or rtansfrrred and Borrower is not a natural
<br />person) without Lender's f-n cx,written consent, Lender may, at its option, require immedizre payment in full of all sums
<br />secured by th!t� 6c•tUrity I-m-i c nen.. How,! per, this option shall not be exetrised by Lender if exercise is prohibited by
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<br />federal law as c-t!1e date cf t h, , Seca: Iyl Ge•�trument.
<br />If Lender exercises titc3 +_ prior., Lender shall give Borrow ci innilce of acceleration. The notice sha10 provide it period
<br />_)r nit, less than 30 days frorn > ia: date the entice is d.-Ii s Bred or mailol yvithin which Borrower must pay all sums secured by
<br />t.`.�s•.Security Instrument. Lf'&- rrower f : °,o pay tb• L sums prior to-thc expiration of'ihis period, Lender ittay in,,wkc arty
<br />~ �n edies permit led by this Security Insm:ment without further notice or demand on Borrower.
<br />t;. 18. Borrower's Rigb+ O Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enil_,, cement of this Security: L strument discontinued at any time prior to the earlier of (a) 5 days (or such either period as
<br />L 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 Hornmer:
<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 expense% incurred m enforcing IN%
<br />Security Instrument, including, but not limited to, reasonable attorticyti fees; and (d) takes %tech action as kends.- may
<br />reasonably require to assure that the hen of this Security instrument. Lender's tight,, tit the Property and Borrower's
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<br />obligation to pay the bums secured by this Security Instrument %hall cominoc unchalliml ['114 111 rcinslatenient by
<br />Borroacr,1111'. Security In %trumclit and the obligation% secured hereby SbaN rtnru►► fnlh e1Tc0tse a• if n+• .tLcelctattcm had
<br />necurred. Hinscscr. this right to reui%tate shall )ot apply In rite case 4Pf:acc-ekration uadcr r.1rai;r,11,11. 11 +•t 17
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