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89-141 1731
<br />1 If Lender required mortgage insurance as a condition of making the loan necumd 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 LendiWs written agreement orapplicable law.
<br />& Inspection. Lender or its agent may make reasonable entries upon and inspections of tilt Property. Lender
<br />shall give Borrower notice at the time of or prior loan inspection specifying reasonablecause for•the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct onconseggential, in connection with
<br />any,.cendtixination or other taking of any part of the Property. or for conveyance in-lieu-of condemnation, are hereby
<br />m-goed mild shall be paid to Lender.
<br />' . the ercent of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Inst1 at ; G •u Y t r or not then due, with any excess paid to Borrower. In the ivent,of•a pgrtial taking.of the Property,
<br />untess & ,wt`e— d Lender otherwise agree in writing, the sums secured by this Security Instrument shall ,be reduced by
<br />the amo,!nY- of tfit-proceeds m;ltiplied by the following fraction: (a) the total amount: of the sums secured immediately
<br />before ther4tinti 4vided by (b) the fair ma ket value of the Property immediately before the taking. Any balance shall be
<br />paid to Bor{3 1A;er7.
<br />'If the i?is_�rty is abandoned by Borrower, or if. after notice by Lender to Borrower that. the condemnor offers to
<br />maE:$.award or. settle a claim for damages, Borrower fails to respond to Lender within; 30 days after the:urte the notice is
<br />giver ., a ender is authorized to col lest and ap�3, the prods, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security lnstruanam whether. or not then due.
<br />Unless Lender and Borrower otherw°M agree iz_ writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referre i ao in paragraphs 1 and ?.6r. change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver_ . Extengom of the time for payment or
<br />modification of amortization of the sums secured by dais Security Instrumei'z granted b k,Lendeir to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or. Bor7ww•er 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 amortization of the sumsscxured by this Security Instrument kyn:%ison of any demand made
<br />by the original Borrower or Borrower's successors in, siitrest. Any forbearance by Ue ndrir in exercising a..y right or remedy
<br />shat. sot be a waiver of or preclude the exercise of atiy nJwt or remedy.
<br />11. Successors and Assigns Bound; Joint Geri Several Liability; Co- signers. • The covenants and agreements of
<br />tw s security Instrument shall bind and ben;! z the successors and assigns of Lender and, Borrower, subject to the provisions
<br />cf paragraph 17, Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />I .sariament but does not execute the Note: (a) is co- signing this Security instrument only to mortgage, grant and convey
<br />that Borrowers interest in the Property under the terms of this Security Instrument., (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear er make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's e,-uv ent.
<br />12. Loan Charges. If the loan secured by this Security instrument is subject u) a law which sets maximum loan
<br />charra and that law is finzia• interpreted so that the interest or other loan charges collected or to be collected in
<br />cc* -:�Aa ):on with the loan exceW iitc, permitted limits, then: (a) any such loan. charge shall be reduced hmi the amount
<br />aox-v_;ary to reduce the charge to a pcnt5:itted limit: ard (b) any alread% frcxr. Borrower which exceeded
<br />perminted limits• will be refundd to Barr<l,Wix.. Lender ritzy ch,.eye o make t''. is rt�Sjnd 16 reducing the principal owed
<br />ur ier the Noteor by making r w %ect pay :;e f to Bprr+, :car: tf,.. refund reduces xr:�ncipul, tho reduction war` tie treated as a
<br />parti4l prepayment without any Itepayment charge ,:.
<br />I& Legislation Affiuda ig Lender'a nights. ) enactr tit or expiration, of'applicable laws has the effect of
<br />rendering any provision of the Note or this ��%1.,rity Instrument ur of srceable according to its terms. Lender, at its opibolt.
<br />may require imrr:diate payment in full of ail sums secured by On- Security Instrument and may invoke any ren -7.4 ira•:.
<br />permitted by paragraph 19. If Lender exercises this option, lender shall take the steps specified in the second paragral -16I)
<br />paragraph 17.
<br />14, Notices. Any notice to Borrower provi&d for in this Security Instrument shall be given by delivenng i t gar [.iy
<br />mailing it by first class mail unlessapplicable law requires use of another method. The notice shall be directed try ille
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to bender shall be given by
<br />first class mail to Lender's address stated herein or any other address Lender decignules by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to &)*rrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument -,hsi! f±e governed by federal law and the law of the.,
<br />jurisdiction in which the Property is located. In the event that any or clause of this Security Instrument orthe
<br />Note conflicts with applicable law, such conflict shall not affect other prc.i,.ons 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 th':
<br />Note are declared to be severable.
<br />.16. Borrower's Copy. Borrower shall be given one conformed copy of the Nate and of this Security Instturnum _
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. frail ur 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 &trrower is not a natural
<br />person) without Lender's prior written consent. Lender may, at its option. - require immediate payment in full of .,O Sufis
<br />secured by this Security instrument, However. this option.shall not he exercised by Lender if exercise is pruhi.h.,Ld•hy
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall prw id! a i X.Mod
<br />of not less than 30 days from the date the notice is delivered or marled within which Borrower must pay all sum•: setae nzl by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this pert. rd, I ender ma, arwslie any
<br />remedies permitted by this Security Instrument without further notice or dcmund on Ilorrouer
<br />1L. P,a.:r►:.gc's Righ¢ to Reinstsie. If Borrower meets certain condthow. Burrower shall have th_ ha,.c
<br />enforcement of this Security Instrument discontinued at any time prior to theearlrer of: (a) 5 days for such tv"Inm pericid .as
<br />t applicable law may specify for remstatemeno hefore sale of the Property Pursuant to any power of sale ire slut
<br />L Securit) Instrument, or (h) entry of a judgment enforcing this Security la,,-rarnent. Thnse conditions are thivilort(mer.
<br />(a) pays Lender ail Burns which then would he due under this Secunay Ittsc•rutnent .,rid rtac Note h trl m:, ,acs c1cralaort
<br />"ILCuiredI (h) cures an) default of any other covenants or agreements. iei ploys .all e%Vrwes wcurred u. vwor og this
<br />Security lnstrument, mc)uding, but not limited to, reasonable att.Irn(yo foes: and lcfa takrs �ucti a�tr. r :.h:. I eater rn,$)
<br />reasonably require to assure that the lien of this 5eturtl Instrument, 1 -ttlit r ". right: m chi F'gor;_rt♦ ar:c tic=rrouer•%
<br />nhbgutaorr tr_+ ply the Sums "secured by tills Secu►►ty inr.ttunimt shail''-r+titanara' uur flanma t t s Tell, -i .:tco tit In
<br />fturro Aer, than 5ecuta) Instrument and the obligations s,ec:ureei herehy shall ictraurai rusts OTC'- IV ('01 It "N' .,ILk c•r, ;,,n, ern ll; 1
<br />incurred Iftiwesrr, thi%right to reinstate shall not apply in th cast• (if uceeiF't.itnm wolct par.u•t i(,ir. t : r• I
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