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<br />S9- 102111
<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 requbvinew 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 Crake reasonable entries upon and htspections 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. Th_ 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 ei 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 immed� tely
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shbe
<br />paid to Borrower. _
<br />If the Property is abandoned by Borrower, a if, after notice by Lender to Borrower that the condemnor offer> to
<br />make an award or settle a claim for damaged, Borrower fails to respond to Lender within 30 days after the date' he notice. is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />io ;!ie sutras secured by this Security Instrument whether or not then due.
<br />Unteai Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall riot extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 ar 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 sums secured by this Security Instrument granted by Lender to arty successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower 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 amonization of the sums secured by this Security instrument by reason of any demand made
<br />by the ori.-inal 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 preclude the exercise of any right or remedy.
<br />11. Successors and Msigns Bra ;.d; Join, and Several Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument steal! bind at:__ "'-- iota the successors 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 r--signs this Security
<br />Instrument but does not exect:ae the Note: (a) is co- signing this Security Instrument oaly to mortgage. grant and convey
<br />that Borrower's i ;serest in the Property under the terms of this Security Instrument; (b) is no', perxonally 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 or make any accommodations with regard to the terms of this Security instruraent or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrumert is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the ican exceed the permitted limits, then: (a) any such loan char,,-,c shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already coilected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by snaking a direct paym :nt to Bc °uwer. ?f a refund reduces princ;nal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the ,dote.
<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 Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by parcersrh.! 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be dirwcd 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 stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Lary; Severati!ity. 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 [tic Note
<br />which can be given effect without the conflicting provision. To this end he provisions of this Security instrument and the
<br />Note are declared to be severab ;e.
<br />16. Borrower's Copy. Borrower shall be given one conformed cony of the Note and of this Security Instrument.
<br />17. Transfer of the Property ui 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 option, Lender shall give Borrower notice of acceleration. The notice Eliall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pate these sums prior to the expiration of this period, Lender may invoke, any
<br />remedies permitted by this Security Instrument ",%ithout further notice or demand on Borrower. I \
<br />18. Bur rower's Right to Reinstate. if Borrower meets certain conditions, Borrower shall have the right to ha�vc
<br />enforcement of this Security Instrument discontinued a. any time prior to the earlier of: (a) 5 days (or such: other period as
<br />applicable law may specify for reinstatement) before sole of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry u. q judgment enforcing this Security Instrument. Those conditions are that Borrower;
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) ;gays all expenses incurred in enforcing this
<br />Security instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such , -ction as Lender may
<br />reasonably require to assure that the lien of this Security instrt,,ment, Lender's rights in the Property and Borrower's
<br />obligation to pay the sttms secured by this Security Instrument shall continue unchanged. Upon reinstatement by
<br />Borrower, this Security i ::strument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred. However, this right to reinstate shall not apply in the case of acceleraticn under paragraphs 13 or 17.
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