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<br />89- 101788
<br />If Leader required mortgage insurance as a condition of making the loan secured-by this Security Instrument.
<br />Borrower shall pay the premiums require-0 tq maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with BQ rrnwees and Lender's written agreement orapplicable law.
<br />& Inspection. Lender or its agent may mako riasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an in,pcotion specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any aw$rd.ar,clOrn:fordamages, director consequential, in connection with
<br />any condemnation or other taking of any part of the Pt'apert ar. ar 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 shtsllibe applied to the sums secured by this Security
<br />Instrument, whether or not thin due. with any exms, paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower and Lender ©Marwise agree in writing, tha sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds rttiJipiiizd by the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (D & irmarket value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abartdwtd by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a clZIM for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given. Lender is authorized to•C}iect and apply the proceeds, at its c)t :ran, either to restoration or repair of tb•Froperty or
<br />to the sums secured by this Security Instrument, whether or not then sine.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall -blip ear' :sir
<br />postpone the due date of the Mnthly payments referred to in paragraphs 1 and 2 or change the amount of -74:11. •vents.
<br />10. Borrower Not Rd*ased; Forbearance By.-Lender Not sa Waiver. Extension of the time'ir�•l ayment or
<br />modification of amortization rf the sums secured by .q Security Instrument granted by Lender ta, ,y successor in
<br />interest of Borrower shall not operate to release the liaMal_v of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedialp against any successor in interest or refuse to extend time for
<br />parc�em m
<br />or otherwise modify amortization of the sums sees:.red by this Security Instrument by reason ofany demand made
<br />by Clue original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or pre %~ -ade the exercise of any right or remedy .
<br />11. Successors aid. MOB" Bound; Joint and Several Lf�JI1y; Co- signers. The ` o`nenants and agreements of
<br />this Security Instrument sl•«'l bind and benefit the successors and as sif.: � of Lender and Borncmai r, subject to the proviswiz
<br />of paragraph 17. Borrower's: ovienants and agreements shall be jof at: nl several : Any H= -wer who co -signs this Security
<br />Instra rnent but does not ex6-zute the Note: (a) is co- signing this SwiHty ro mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms.pf (b) is Turn -personally obligated to gay
<br />the sums secured by this Security Instrument; and (c) agrees that li: nr er and any other )Ti's xriawer may agree to extesnf,
<br />modify, forbear or make any accommodations with regard to the terns of this Security lrlserament or the Note withavt
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security instrument is sub s :t to a'.aw which Sra:s maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges cr:l! =e ,er3.,Cir to be collected in
<br />connection with the i<avj:n exceed the permitted limits, then: (a) ani such loan charge shall ise reduced by the amount
<br />necessary to reduce d -,a 4targe to the permitted limit; and (b) any s1-^s already collected from Borrower which exceeded
<br />permitted limits will- se.nr4unded to Borrower. Lender may choose :a rake tha refund by reducing the principal owed
<br />under the Note or by maKiug a.direct payment to Borrower. 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 Rights. If enactment or expiration of appb.2ib ;e laws the effect of
<br />tendering any provision of the Note or this Security Instrument unenforceable according to is &r.trris, Le-. er, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may , &' & any remedies
<br />peal t•ted by paragraph 19. fif' wmcler exercises this opt:+la....Lcnder shall take the steps spec,110i •r: rise sr- cu-sd' :paragraph of
<br />paragraph 17.
<br />14. Ndtm. Any r.o`ce to Borrower provided for in this Security Instrument shall by delivering it crsby
<br />mailing it by frr.` Oass ma :.st7less applicable law requires use of another method. The rv,� i_e shall be directed to 0 -e
<br />Property Address r any olher address Borrower designates by notice to Lender. Any notice to Lender shall be given ;,y
<br />first class mail to Lender's addicss stated herein or any other address Lender designates by notice to Borrow er. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as prcti:.-ed
<br />in this paragraph. '
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and -, he t; fl 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 provision% 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 exerci�r.41. by Lender if exercise is prohibited by
<br />federal taw as of the date of this Security Ir_mrument.
<br />If Lender tin s option. L i- der shall give Borrower notice of acce.* cam^ n. The %notice shall provide a period
<br />of not less than 30 great Ole date slut notice is delivered or mailed within whist Rorr:iuer must pay all sums secured by
<br />this Security Instruriteta. If 131?rrouer fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted 1,y .hi :!sea t ;r•ity instran-ent without further notice nr demand on Borrowcs.
<br />IS. Borrai vole's Right to Refnstatie- - if Borrower meets certain conditions, Borrowe shall have the naht to It,a-e .
<br />enforcement of ihii! liecurity instrument discontinued at any time p,~ .:: to the earlier of: (a) 5 days tot such other period, aN
<br />applicable law may specify for reinstatement) before sale of the Pniper±y pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instr•umicnzf. Thine conditions .ere that Borrower:
<br />(a) pays Lender all sums which then would he due under this Security In%1rumment and the Note had no acceleration
<br />6ccurred: (b) cures any default of any other covenants or agreements: (e) pays all expenses incurred in enfrcing this
<br />Security Intitrument. including, but nod limited to, reasonable attorneys' fees; and (d) take,, Stich action as Lender may
<br />reasonably require to a %%ure that the lien of thi,,. Security Intitrument. Lender'~ rights in the Property and Borrower's
<br />obligation to pay the sums Secured by thin Smiinty Instrument Shall contmuc unchanged Upoti reinst,itcment by
<br />tic;rri-swer. f6-Security instrument and the obligations secured hereby %hall lemon Gill}• cffe: hvc a%ii`n., aceelr ration ttati
<br />occurred. However, thi%rtght to reinstate shall not ripply in Chet arc,dac xicranon under- paragrapi . i i <it 1 T
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