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<br />�- 89-401-1980
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Securt9. L .W.Ument,
<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 lane.
<br />t3, Irgeetisa. Lender or its agent may make reasonable entries upon and inspections of the Ptupert is Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspeethan.: .
<br />9 Cendee■ iiatimw. The proceeds of any award or claim for damages, direct or consequentiaLin.casutection 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 securedcby this Security
<br />instrument, whether or not then due, with any excess paid to Borrower. In the event-of a partial takiup�of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Inanuntent,shall be reduced by
<br />the amount of the proceeds multiplied by the following. fraction: (a) the total amount of the sums Ocured immediately
<br />before the taking, divided by (b) the fair market value• 04he Property immediately before the takings Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, cis it after notice by Lender to Borrower thi)ti3he condemnor offers to
<br />make an award or settle a claim for damages. Borrowe' ♦ails to respond to Lender within 30, day;uaf ter the date the notice is
<br />given, Lender is authorized to collect and apply the prraseeds, at its option. either to restoratittiY or repair- of the Property or
<br />to the sutras secured by this Security Instrument. whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of praceeda.tix principal s=tall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or cbange ti=e amount of such payments.
<br />10. Borrower Not Releatted; Forbearance By Leader Not a Waiver. Exttmsion of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrawan or Borrower'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 sums secured 6y this Security kwarument by reason of any demand mide
<br />by the original Borrower or Borrowers successors in interest. Any fisrhearance b . -Lender in exercising anyright or remedy
<br />shall not be a waiver of or pn=tude the exercise of any t, -T4 : ar rfaisedy-
<br />11. Successors sail Aseigss Bound; Joint sodderail Liability;-Co- signers. The covenants =5 agreements of
<br />this Security Instrument shall bind and benefit the successors and migrssmf Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreement '�Isall be joint and several. Any Borrower who co- sigrui this Security
<br />Instrument but does not eltwite the Note: (a) is co- §♦,stung this; Security Instrument only to mortgage, grant and convey
<br />thait Borrower's interest in the Property under the terms of thi% Security Instrument-, (b) is not personally obligated to par
<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 Borrowee-scrnsent.
<br />12. Loan Cftarges, If the loan secured by this Se:,urity4fistrument is subject to a law which sets maximuL min
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to fvv collected in
<br />connection with the loan exceed. the permitted limits, thessr(a) any such loan charge shall be reduced i5y the amount
<br />necessary to reduce the charge to the permitted limit. and (G) any sums already collected from Borrower which exceeded
<br />permitted limits`G+ii1 be refunded to Bormwer. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct paymint,fo 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 applicable laws has the effect of
<br />rendering any provision of the Note or this Security Iitnrument unenforceable according to its terms. Lender, at its option.
<br />may require irnr,- adiate payment in full of all sums :secured by this Security Instrument and may invoke any remactties
<br />permitted by paragraph 19. If Lender exercises this, antion. Lender shall take the steps specified in the second paragrai L- of
<br />paragraph 17.
<br />14. Notices. Any tiolice to Borrower provided for in this Security insimment shall be given by delivering it or by
<br />nt ,mg it by first class mail unless applicable law requires use of another method. The notice shall he directed ter 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 stated herein at any other address Lender des -41 aces by swtice to Borrower. Any notice
<br />pm7ided for in this Security Instrument shall be deemed to have been given to 13 =- 6wer or Lender when given as provided
<br />in this paragraph.
<br />15. 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 cthcr provisions of this Security Instrument or the Note
<br />which can he 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 Nate and of this Security Instrument.
<br />17. Tsranfer of the Property are Beneficial laterest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or tranOCTrO'd t'arif 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 pr.;ltibitcd by
<br />federal law as ofthedateofthitSecurity Instrument.
<br />If Lender exercises thiroption, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from ;hedate the notice is delivered or mailed within which Borrower roust pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of thiti period, Lender may invoke any
<br />remedies prrinsitted by £Iris Seturiity Instrument without further notice Or dernan i on Borrower.
<br />18. Borrower's Right to Reinstate. if gorrovicr meets certain conditions. iorrower shall have the right to have
<br />L enforcement of this Security Instrument discontinued at any time prior to the earlter of (a) 5 days for such other pen 'd as
<br />applicable law may specify for reinstatement) before safe of the Property pursuant to any rower of sale amtained tit tills
<br />Security Instrument. or (b) entry of a judgment enforcing this Securit) Instrument -Those conditions arc that itorrom cr.
<br />(a) pay; Lender all sums which then would be due under this Security instrument and the Note had no acceferat ;nn
<br />occurred: (b) cure, any default of any other covenants or agreements. (c) pay-, all 'enrciiws incurred tit cnfiucnig tills
<br />Security instrument, includ.ng, but not limited to, reasonable attorneys fee.. and (dt take% such .tenon :is i.cnder stay
<br />muse tably require to assure that the belt (I this se�,:urttt Instrument. lender's r;ghts in the Property and flinfowers
<br />obligation tr) p;ty the sums sc.:ured b) this Security Instrument shall cim(hnue unchanpcd t't'trti rc :tist.itctnent h}
<br />&trrttwcr, tlii %Sc;:uritg 111%1rumcnt and the obhgauwvn c-urcd herchy shall reraato fully cffc :Iv.c,i, it n -t a,, etc•ratiuti had
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