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<br />89- 4,02382
<br />If bender required mongage insurance as a condition of making the loan secured by this Security Instrument,
<br />Bnrrower'shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance tertrinates in accordanavk-itb Borrower's and Lender's written agreement or applicable law.
<br />& Inspection. - Lender or its agent may make reasorraMe entries upon and inspections of the Property. Lender
<br />shalt give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, 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 Security
<br />Instrument, whether or not then dwA with any excess paid to Borrower-"In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agtttrin 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 immediately
<br />before then taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Barrawer.
<br />If the Property is abandoned by Borrower:, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Bow. er fails to respond to Lender within 30 days after the cult: )he notice is
<br />given, Lens is authorized to collect and apply the procted�., at its option. either to restoration or rep .tfroff i,g.P` riherty or
<br />to the sums secured by this Security Instrument, whether or raot. Aen due.
<br />Unless Lender and Borrower otherwise ag: � in writing, any application of proceeds to principal shall not extend or
<br />pastpone the due date ofthe monthly payments refierred to in paragraphs I and 2 or change the arncttt, t. of such payments,
<br />10. Borrower NU Released, Forbearance By Lender Net a Walvik. Extension of the time for payment br.
<br />Tnad fication of amortization of the sums secured by this Lr is;ient granted by Lender to any successor in
<br />Mi t' Ct z . Borrower shall not operaft x6 release the liability ef'i -Li original Borrower or Borrowers successors in interest.
<br />Lender s :-.all not be required to cou=mmce proceedings agaiat any successor in interest or refuse to extend time for
<br />payment or otherwise modify amort�, -,ion of the sums secured by this Security Instrument by reason es any demand made
<br />.by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising a.cy right or remedy
<br />shall not be a waiver of or preclude ttr exercise of any right orT.rm. edy.
<br />14- . Stuccessors and Assigns l63und; Joint and Severn,, Ushility; Cosigners. The covenants and s,.t�3aients of
<br />this Sec GIs - Emstrument shall bind eta benefit the successors a 1,. assigns of Lender and Borrower, subject tr:6 r rovisions
<br />of paragraph 17. Borrow —o. s covenants and agreements shall be joint and several. Any Borrower who co -'is Security
<br />lrtstrument but does r o �rcute the Note: (a) is co- signing this Se,.,�•ciiys rm,m�* -ment only to mortgagf°., grant and convey
<br />to at Borrower's interest':: Che Property under the terms of this tivj rra;.� F4mt,) .gner:�f: (bins not persons'lly obligated to pay
<br />:he sums secured by this Security tnatr:ment; and (c) agrees I:h -,f .ender and any a:•1 qtr. Borrower may agree to extend,
<br />modify, forbear or make any accocam:k ations with regard ta' i�t?e terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured, 1is. t%is Security Instrument is subject to a law wlita b. sas maximum loan
<br />;.liarges, and, that law is finally interpreted so r?:ai the interest or other loan charges collected '6r to be collected in
<br />connection with the loan exceed the permitted limits, the^ ' t' a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b, ,,any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may 1iTir4Se to r -akq this refund by reduci.:i; the principal owed
<br />+;ruder the Note or by making a direct payment to Borrower. If arc -i.' atj reff:Xes principal, the reduc ti,t , -will be treated as a
<br />partial prepayment witho -1 any prepayment charges !,rider the
<br />13. Legislation Affecting L rife 's Rights. If eni::iment or expiration of applicable taw's i as t're drect of
<br />rendering &Ax provision of the Note e :1YIfu!: S=urty Instrument unenforceable according to its terms, i�- a: 1,%!i option,
<br />may require : 'il imediate payment in :i ll of 0 �i mr, secured by this Security Instrument and may :r..:; ske any remedies
<br />peermitted ii; paragraph 19. If Lender exercises rlv�'option, Lender shall take the steps specified in t.ie �.;rf and paragraph of
<br />gii-,agraph i" .
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<br />K. _Vii lees. Any notice to lsarrower provided for in :.i•t i:s Security Instrument shall be given by delivering it or by
<br />mailing it bi'tirst class mail unless applicable law requires at,; +:('another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by not.cc to Lender. Any notice to Leader shall be given by
<br />first class mail to Lender's address stated herein or any other address Le ^,a,.w designates by notice to Eorrower. Any notice
<br />provided for in this Security Instrument shall he deemed to have been g-..a t,; Borrower or Vender,;. cn given as provided
<br />in this paragraph.
<br />15. governing Law; Severabill y. This Security ins.truruer:t shall he governor„ l,.y federal law and the law of the
<br />jurisdiction in which the Property is ft.-icated. In the event gnat ant) provision or clause •: f this Securi:y Instrument or the
<br />Note conflicts with applicable law, such conflict shall not af%ct other provisions of this Security In.ytrument 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 c-rif -brmed 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 cf 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 />cif not less than 30 days from the date the notice is delivered or matted within which Borrower must pay all sums wcurcd by
<br />this Security Instrument. If Borrower fails to pay these sums prat to the c.xrrratton of thi% period, Lender may 111E oke any
<br />remedies permitted by this Security Instrument without further notice ur demand on Borrower.
<br />1ff. Borrower's Right to Reinstate. If Borrower meet!, certain conduu,ns. Borrower sh,+ll have the right to -tuve
<br />enforcement of this Security Instrument discontinued at any time prior to the carlier of. (a) 5 da-1,s (or such other period as
<br />applicable law gray ;he.ify for rein.taterrerri )1.•fnte .ale of the Propene pursuant to am• poorer of sale contained to this
<br />Security Instrument. or ((+► entry of a)udgmcnt enforcing this 5ecurtty I114.1nunent. "those cowditiows art that H„rrowcr•
<br />(a) pays Lender all sums which then would be due under this Security Imtr !Bent ;11111 the Bore had rte, aecrtcranrrn
<br />or<e,urted, (h) cures any default of any other ci,%enants or agrecinen; '.. (t: i pay% all vxpewses ulcutivil to enfoniwe 1111'.
<br />Security instrument, including, but not hwuted ro, tea '.,-enable attotneyti fret.. crud (d) take, �u.h action as I vildci ►n:♦y
<br />reasonably require hti assure that the ltcu „f this 514: ' . in41 i tint. !..ender t. rrtchts n► the Pr+y+e•tt, ,rid flortom cr%
<br />«t,ligattow to pay tltt Sums srrurcei tit rhr'. Sr,titay Inoruwrcnr %ball wrchutwt—il 1 p:v1 r,:nl%latrn,r•trr bti
<br />itrrtti +ucr, tiu;5_�urtty tnt.Tr ±inn rrt a2rJ ehc .,f,li . alb -rsry %write•d feetvh :.hall remain fully Cffe•. trot,ik it till 't- It t.,tt : :r !,,re;
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