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Sig
<br />89-101472
<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, Ittttpeetion. 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 pnor 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 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 it after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, other tea restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not thm due.
<br />Unless Lender and Borrower otherwise agree in writing; any 'application of prods to principal shall not extend or
<br />postpone the due date of the monthly pa►ments refm-ad to in paragraphs 1 and 2 or chatrtre the amount of such payments.
<br />10. Borrower Not Releaser Elm. Ely Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of thesunii secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not capwa�g {please the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required ua cc3'ra jna rsre proceedings against any successor in inte ict or refuse to extend time for
<br />payment or otherwise modiiyajng.jj:Wiim of the sums second by this Security Instrume t by reason of any demand made
<br />by the original Borrower or lirri7,,4 �0s.successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or pra liud)e riia&.ercise of any right or remedy.
<br />11. Successors and Assigti , Rind; Joint and Several LUbility; Co- signers. tte covenants and agreements of
<br />this Security Instrument shall bind abdbr -tefit the successors zr,.d twsigns of Lender and ,Fr,•rrower, s�,e -j rl to the provisions
<br />of paragraph 17. Borrower's covenants and agreemim.ts shall belp''p- i and several. Any Borrower whe,aa-�signs this Security
<br />Instrument but does not execute the Note: (a) is c,�ssgning this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this !iecurity Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Ensir wrent; and (c) agrees dial:. Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accomnint"tions with regard to thie Lerms of this Securitt Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security to subject. tv a law which sets maximum loan
<br />charges, and that law is finally intuprated so that the interest �r w,rhex layan char ?;W, collected or to be collected in
<br />connection vdah the loan exceed the Iiitrrt.itted limits, then: (ul ;aaty� sw:h loan charge. Oiall be reduced by the amount
<br />necessary to reduce the charge to the`pe mitted limit; and (b) arty:,sums already collected . from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may chaese to make this refund by reducing the principal owed
<br />tinder the Note or by making a direct payment to l3i.wrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting LEir&Ys Rights. If enaritment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security lnstrumen6inenforceable accordirig: io its terms, Lender, at its option,
<br />may require immediate payment in iii T, of all sums secured by this Secu�t;- Instrum(ti t and may invoke any remedies
<br />permitted by paragraph 19. if Lend i!rexercises this option, Lender shall take. tho steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Si mower provided for to this Security in�.Irument: shall be given by delivering it or by
<br />mailing it by first class mail unless aicplicable law requires use of anotha- itic-thod. 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 class mail to Lender's address staled herein or any other address Ltna6 designates by notice to Borrower. Any notice
<br />provided for in this Security Instrumenr shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severabiiit:y. 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 can be given 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 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 />interest in it is sold or transferred (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 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 Instrument.
<br />If Lender exercises this tiryaau. Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the d?.te the notice is delivered or mailed within which Borrower must pay all sums Secured by
<br />this Security Instrument. if Bortakar fails to pay thaseaums prior to time expiration of this. period, Lender may invoke any
<br />remedies permitted by this Security lutrument without funher notice or demand on Borrower.
<br />1$. Borrower's Right to Reitt>:dtte. If Borrower meets certain conditions, llorro%cr shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) 5 day,. (or ,-etch other period as
<br />L applicable law may specify for reinstatement) before sale of the Property pursuant to any power of safe contained in this
<br />Security it ittument: or (h) entry of a judgment enforcing ibis Security Intitrument Those conditions are that Borrower
<br />(a) pay% Lender all sums, which then would he clue under this Security Instrument and the Note had nn acceleration
<br />occurred, th) cures any default of any other covenants or agreements: (c) rays all expenses incurred in enforcing ttus
<br />Sccuntl, Instrument, including, but nct limited to. reAanable attorneys fee-,: and (d.1 take% such action as i ender may
<br />reasonably require to assure that the lien of this Security instrument. Lender's ripnts in the Pnipc•rty and lorrower's
<br />+)bh);attfm tv pay the sums secured bs, this Security Instrument shall cf-•nfintie o"Alanged Upon reuist,itenunr by
<br />lirvre, suer. flu, Sec;urin, instrument and the (ibligatuirissccured hereb; shill) rem:,tn fulls clTC, IM-as if had
<br />+, _urrcd Ifwxv:er. th}s nj!ht trpreinstaieshaII tint apply is the caw if; ircOer;irti-in i,,v(fc•r raragr,,hh% I I Zip .
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