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<br />89- -,102,31 6
<br />If Lender required mortgage insurance as a condition of making the loan secured by tyis 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 Lenders written agreement or applicable law. '•
<br />8. It gwdloo. Lender or its agent may make reasonable entries upon and inspections of torte Btclicrty. Lender
<br />shall give Borrower notice at the time of orprior to an inspection specifying reasonable cause for Vie inrpcetftim.
<br />9. Condemnation. The 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 seeumd by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial. taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing. the sums secured by this Security.J.- Istrument shall be reduced by
<br />the amotutt-.of the proceeds multiplied by the following fraction: (a) the total amount Of rite -sums secured immediately
<br />before tire: tang, divided by (b) the fair market value of the Property immediately before tfir 1.'tkl4. Any balance shall be
<br />paid to &rrp�wer.
<br />Af tbi. Property is abandoned by Borrower, or if, after notice by Lender to BormAver that 6e1 Wilde mrtort`ffers to
<br />makea - a4c�d or settle a claim for damages. Borrower fails to respond to Lender within 30 days after tfie ter- notice is
<br />g:Kem.Le ader is auther ed to collect and apply the proceeds. at its option. either to rawwation oc rep=air of the Property or
<br />G3 the •suats"secured by OiL, Security Instrument, whether or not then due.
<br />Unless Lendet,iii4,l�6r miv :r otherwise agree in writinp;,;any application of pre ;Ws to priadpal shall not extend or
<br />Postpone alai: tfue', ,tisf i m6ndoly payments referred to in. paragraphs I and 2 Cr eltau m. the art ount of such payments.
<br />t4. 8► ,7 - Nbt Released; Forbearance By L.eitdne. Not a Waiver. Ex w- • rt of the time for rayment or
<br />modificatirrtt 5 :WM ctx.4tion of the sums secured by this 5uc6rity Instrument grasited F ;v, E, Aer to any successor in
<br />interest of BorrOW& ikiil! trot operate to release the liability of the original, Borrower or Borrow -& 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 this Security instrument by reason of any demand made
<br />by the orig nAl Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not bea waiver of or preclude the exercise of any right cr r.•ars; *.
<br />11. Successm.and Assigns Bound; Joint: and Several, Liability; Cosigners. The covenants and agreements of
<br />Otis Security Instrument, sftall bind and benefit, the successors and assigns. cif Lender and Borrower, subject to the provisions
<br />is,s uragraph 17. Borr�wr;rr s covcrssttrs and agreements shall be joint and sw,•eral. Any Borrower who co-signs this Security
<br />1-4trtiment but does Pet e xecute tiv. Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrowees interest in the Pre.prsrty under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by tats 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 Borrower's consent.
<br />12. Loran Charges. If the loan secured by this Security Instrument is subject to a law %,Lhich sets maximum loan
<br />charges, a::d that law is finally interpreted so that the interim -st or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce tP,,& -Z?.arge to the permitted limit; and (b) any sums already collected from R rower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to rr.ake this refund by redr;l;r�g the principal owed
<br />under the Note or by ricking a dry; payment to Borrower. If a refund reduces principal"., t'. -,e n3_1:jstba will tie. r.re.3ted as a
<br />partial pnTlyment without any charge under the Note.
<br />M Legislation Affecting Y.endees Rights. If enactment or, expiration of 'applicabi !;3ws has the effect or;
<br />rendering any provision of the Note or this Security instrument unenforceable according to its terms, Lender. at its optiarL,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remediw�
<br />permitted is paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph o
<br />paragrar.t �.
<br />14. Notices. . Any notice to Borrower provided for in this Security Instrument shall be given by delner: 4. -•t oy ray
<br />mailing it by first cLr ;3 snail unless applicable• lax! requires use of anet.:er method. The notice si: -xll be directed to ti:y
<br />Property Address or aa,� other address Borro-j tar designates by notice to Lender. Any notice to Lender shall be given by'
<br />first class mail to Lender's address slated herein or any other address Lender dcsignat e9 by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall he deemed to have been given to Borrow er or Lender when given as provided
<br />in this paragraph.
<br />15. Governing I?aw; Severability. Th:s S,!,zurity Instrument �hmll tie governed by federa.l' law and the law of the
<br />jurisdiction in which cbt. Property is located. In the event that any prt:a� u)n or clause of this Sct;urlty instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other pro - visions of this Security instrument cr. the Note
<br />which can he given effect without the conflicting provision. To this end the provisions of this Security Instr6nnint and the
<br />Note are declared to be severable.
<br />16. Borrovre N.COpy. Borrower shall be given one conformed cu y of the Note and of t 11+.. ``sec. ms ir.-Aturaerrt .
<br />17. Trxnster of thL, Property or a Beneficial Interest in Borrer-wer. If all or any part +.'the Pia }•.r :.y car sal .
<br />interest in it is sold or ttwnpferred (or ifa beneficial interest in Borrower is sold or transferred and Borrower :s !;J.A .. r.sr Lira]
<br />person) w4hout Lender%`prior written consent. Lender may,.:at its option, require ir•,i :rdiate payment in fat` .4 '-1 •.,urns
<br />secured 1'his Security instrument. However, this option shall not be ceercised l; "- Under if a ,r.,:rcise is ps,- hibited by
<br />federal law as of the dat._ r f this Security In strument.
<br />If Lender exercises this option. Lender shall give Borrower notice e, oc.elerwtar.��. The ncttctt�� hall provide a period
<br />of not less than 30 days from th'e date the notice is delivered or mailed within which i}o - .rrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay the=se ~rums prior to the expiration of th)s period. Lender may invoke any
<br />remedies permitted by this Security instrument without further notice or demand on Borrower.
<br />19. Borrower's Right to Reinstate. If Borrower meets certain canditfr,m- Horrewer shalt bave the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of la) 5 days for such other period as
<br />applicable law may specify for reinstatement) before safe of the Property pursuant to any power of sale contained in this
<br />Security Instrument, or (h► entn of a judgment enforcing this Security Instrument 'f hose conditions are that flotrower.
<br />(a) pay% Lender all sutras whtch then would he due under thi% Security Instrument and the Bute iced nc, acccler:ltron
<br />occurred. (b) cures any default of any other covenants yr agreements; (c) pay, all erpenscs cncurrcd in cmf „rutig t1ii,
<br />Security Instrument. Including, but riot limited to. reast,nahle attorneys' fcc,,. and (d) tai.t% such actrt,n ac 1 ender ntciy
<br />reasvnahly reyucre to assure that the lien of this Security Instrument, 1.(et]er's twitts In the Propert% acrd K „rr„urr'�
<br />nbligannn to pay the sums secured by th,s Scattily lutitrumeni shall Luntrnuc unchanged t •pun rcm,,t.ttctrew, by
<br />Ntirrfemer this %ct"uraty NAturnent and tlieobbi ttc,.ns 4e,.ured berchy shall retn;uv; tally elte' me us cf rc,�.ueri, c.et�. n h.iel
<br />fkcurrcd. Ii, u%Cwr. thl” rlhht t <, recnatatc ahall nn, apq is :11 tfi(":fs,' "fal:U:lit.,u,Irc i,m,!:4 rar,,yript.s l t , 1 17
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