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'7 89-- 101541
<br />If Lender required mortgage insurance as a condition of making the loan seckired 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 />9. Condemnation. The proceeds of any award or claim for damages, director consequential, in connect:a . with
<br />any condemnation or o_her taking of any part of.the Property, or for conveyance in iieu of condemnation, asp hereby
<br />assigned and shs %.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; aiitlu any exczss paid to Borrower. In the event of:a partial taking of the Property.
<br />unless Borrower and Lender otherwise.agree in uTiting, the sums secured by this Secuii Instrument shall be reduced 13y
<br />the amount of the proceeds multiplied by the follo-Mrig fraction: '(a) the total amount. of the sums secured immediately
<br />Wore the ralang, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If theProperty is abandoned by Borrower, or if, aftezaTotice by Lender to Borrower that the condemnor offers to
<br />ntai►e an award or settle a claim for damages, Borrower fails t+_ n!.;p. and to Lender within 30 days after the date the notice is
<br />given, Lender is authinued to collect and apply the proceeds %,a_its aption,.either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument. wVh her or rids then due.
<br />Unless Lender and Borrower otherwise agree iti writing,.any- application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released, Forbearance By Lender Not a waiver: Extension of the time for payment or
<br />modification of amortization of the surrey secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the viability of the original Borrower or Borrower's successors in interest_
<br />Lender sh-ail not be required to cer;imence procactaings against any successor in interest or refuse to extend time for
<br />payment or o henvise modify amortization of the s-=s securo; o� : m
<br />his Security Instnsei.t by reason bf ary, damGnd made
<br />by the original Borrower or Borrower's successors in .nieii:,t. Any forbearance by Lender in exercising any right or remedy
<br />sha :l not be a waiver of or preclude the exercise o`a:w nght or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit thesuccessom 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 inter" in the Property under the terms of this. Se:.urity Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (cf agrec% that i.ender and any other Borrower ma% agree to extend,
<br />modify, forbear or make any accommodations with regard to flue terms of this Security Instrument or the Note without
<br />that Borrowers consent
<br />12. Loan Charges. If the loan secured by this Sc.umy Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the 1ntenr,t• or ether loan charges collected or to he collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (h) any sums already collected from Borrower which exceeded
<br />permitted limits will he 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 Bnri-mycr. 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 Lender's Rlghtt,. if enactment or expiration of applicable laws has the effect of
<br />rendering any provision of i he Note or this Security in%trument unenforceable accordtng to its terins. Lender, at it% option.
<br />may require immediate payment in full of all sums sixure l by this Security In%irurttent and may invoke any
<br />permitted b-. paragraph 19. If Lendcr exercises this option. Lender shall take the steps specified in the second P3%J Zrap r ir'
<br />paragraph
<br />14. Notices. Any not ice to Borrower provided for ill this Security Instruments a; n;, gi,,,n by delivering 11 or by
<br />mailing it by first class trail unless applicable law requires use of anotf:.:•- - %ethod- I tie i.c,i%x shall he directed to the
<br />Property Address or ac;. other address Borrower dcsignatc% by notice to Any i :once to Lender shall he given by
<br />first class mail to Lender's address stated herem or any other address Lends- designates h) notice to Borrower. Any nonce
<br />provided for in this Security Instrument shall he deemed to have been gis cr. to Borntwcr or Lender when gii cn as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall he 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 provision% 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 he severable.
<br />16. Borrower's Copy. Borrower shall he given one conformed copy of the NOW ant; of this Security Instrtntlellt.
<br />17, Transfer of the Property or a Beneficial Interest in Borrower, if all or any part of the Property or any
<br />- interest lit it is sold or transferred (or if a beneficial interest in Borrower is sold or tram_- `crrcd and Hornmer is not it natural
<br />person) without Lender's prior wniten consent. Lender inay, at its option. rcyuirc ; ^ciliate payntcnt iii full (,fall %unr%
<br />secured by this Security lnstrummt. However, this option shall nit he exciosed t;,- i,ender i" -.- Nercisc is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borr. •wr- r..:._ accetera:.'- I he nt.t. +_ shall provid -- it pct tud
<br />of not less than 30 days from: the date the notice is delivered or - :3: :trd w ithin aht+ i R..: -..%cr trust pay all ircd by
<br />this Secun-f -, Instrument. If Borrower fails to pay these sums prior to the exxpirttion r' ! lits period, lender rn :a; :.ti eke
<br />remedie ti s ! s coil h j. the Security instrument without further notice or demand on Borrower.
<br />18. H::ro-x-i?r•s [light to Reinstate. if Borrower nicct%certain condition%, Borr4mer %ha!: have the right to hear
<br />enforcemccr.-'.. "'–So -urtty Instrument diwontinucdat any tinicpnur tothccancci of (it) 5 day%(m such ollici l•cn( ,.i.i,
<br />L applicable r -ia% specify for reut,tatemenl) before sale of the Property ptjr%mti,l to any poucr of %,too c ontained it. thi,
<br />Sceurtty Ir %.t: t tni, or (h) catty of a)udgment cnfok-nir this Security lnstrumcio 1 how condition- arc that korro.sct
<br />(al pays lender all sums % hidi then would he due udder this Sectitm I.-•iti•utncnt 31,11 t1i: N111, h.n! lit' .iriCler,ttnnt
<br />occurred, (b) cure% any default of any either covenants or agrccmcnt%. (�.) pa, ,- all cxpcn,cs ii,cuir(d it, cWoi, rule tun,
<br />Security Instrument, including. but not hunted to. reasonable att+micy%' lees_ .11.d tit) i,tkr% sorb . +rt+. •, .is I t titlo lit v,
<br />rt-a%emahly requm- it, as,ure that the licit of till, Security Instnintent, I C11110t . ri Lt•, nt the 1',• l+ ci. an-d It. •tr,••t;i 4
<br />nFtl►gatnnt f+, pm the cunt% %ctlacd he 1111% ScLuttly Insttuh+• iii 01,1111 t on- 111 .r X'.0 i.fF; "v1t 1 `; t r n, .rat nitric
<br />Not ri,Nt•t. thl% tic, ut tly (tt %t fill neilt acid the ohhgatutus W011"Ctf licn•hy ,hail t %i. : :ua: ht;. , : HL•t i,, • . . it it, .i,, t 1,11
<br />+,h lit ted 'his tight to teiti%latc shall tiot apply lit fhc —i.i , t.1, idill:'r ,c i.. ,i. i :.It ,•r.,l' 1
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