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<br />89- 12246 .
<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 requirement for the
<br />insurance terminates in accor&wm with Borrower's and Lender's written agreement orapplicable law.
<br />& Inspection. Lender or iti agent may snake reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection.
<br />9 Condemnation. The proceeds of any award or claim for daumagm direct or 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. `a=unty
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial tiking of the Propegy,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shalt: bcredt fifty
<br />the 3tr count of the proceeds mid by the following fraction: (a) the total amount of the sums secum l fnitnedi tely
<br />before the taking, divided by (0tW,1h market value of the Property immediately before the taking. Any. b. g1tince shall be
<br />paid to Borrower.
<br />If the Property is abandoned by W- rriwer, or if, after notice by Lender to Borrower that the eondertmor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the iiiije the notice is
<br />givM Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of Property or
<br />to the sums secured by this Security instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any a.ppf i aation of proceeds to principal shall ftt4 emend er
<br />postpone the due date of the monthly payments referred to in paragr4hs 1 and 2 or change the amount ofsucti payts cots.
<br />10. Borrower Not Released; Forbearance By Lender NoE:aWalver. Extension of the time for payment or
<br />modification of amortization ot-the sums secured by this Security 6s�tm mom granted by Lender to aniw successor in
<br />interest of Borrower shall not operate to release the liability of the o: igin3l BOTTOWN' 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 by tbis.Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by, Lender in exercising any right or remedy
<br />shall not be a waiver ofor preclude the exercise of any right or remedy.
<br />11. Sueceston sad Assigns Bound; Joint and Several Liability; C"imeas. The covenants and agreements of
<br />this Security Instrument shall bind and beet the successors and asskep of L cnd r and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and. several. Any Bcmowcz, who co -signs this Security
<br />Instrument but does not execute the N a:r (a) is co- signing this Security Instrument only to raurtgage. grant and convey
<br />that Borrower's interest in the Pr ow under the terms of this Security Instrumi:41; (b) is noa personally obligated to pay
<br />the sums secured by this Securze. ° 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 Insiminent or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a taw which seas maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or in; be collected in
<br />convection with the loan e=md the permitted limits, then: (a) any such loam charge shall be reduce by the amount
<br />necessary to reduce the charge W the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by red-acing tl:e principal aved •
<br />under the Note or by making a &5!:ct payment to Borrower. if a refund reduces principal, tl:e reaction w : he treated as a
<br />partial prepayment without aa5r prepayment charge under the Note.
<br />13. Legislation ARectiuxll Lender's Rights. If enactment or expiration. of applicable laws Nus the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, LeY4. er, at its option,
<br />may require immediate payment in full & all sums secured by this Security instrument and may iruti1 . any remedies
<br />permitted by paraViph 19. If Lender exercises this option. Lender shall take the steps specified in the sw :: ,.rd paragraph of
<br />paragraph 17.
<br />14. Notices, Any retie_ 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 directed to the
<br />Property Address or any oth,-.r:i:d4dress Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's addrass stated herein or any other addres -s Under designates by r-Alde to Borrower. Any notice
<br />provided for in this Security rmi. r::ment shall be deemed to have beew given to Bortns tr or Lender when given as provided
<br />in this paragraph.
<br />iS. Governing Law; Semzrsbility. This Security Instrument shall be governed by fv-4,.ral law and the law of the
<br />jurisdiction in which the Property is located, In the event that any provision or clause of this Si5larity Instrument or the
<br />Note conflicts with Lpplieable law, such contflet shall not affect other provisions of this Secur ty &mlrument 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 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 Fart 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 shall provide a period
<br />of not less than 30 days from the date the notice isdelivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, bender may Invoke any
<br />remedies permitted by this Security instrument without fin'ther notice or demand on Wrrower.
<br />iS. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of. (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sate of the Property pursuant to any power of sale contained in t his
<br />Security Instrument; or (b),entry of a judgment enforcing this Security instrument. 7 hose conditions are that Borrower.
<br />(a) pays Lender all sums which then would he due under this Security instrument and the Note had no acceleratun►
<br />occurred; (b) cures. any default of any other covenants or agreements. (ct pays all expenses incurted ut enf�rcnig tilts
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees. and (d) takes such acuou as I vudcr may
<br />reasonably require t#1 assure that the lien of this Sccunty Instrument. I.eudei s fights ii► the Property and horr:;wer,
<br />ohhgation to pay. Ole stems secured by this Security Instrwuent ',hall continue unchanged Upon rVmaatenier.r by
<br />Borrower, this Security instrument and file Obligations secured hereby Shall i[malo fully eficctne as if nt air ;rli�ral� is l:ad
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