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<br />89- 142482
<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 accordance with Borrower's and Lender's written agreement or applicable law.
<br />K. Inspection. Lender or its agent may make reasonable entries upon and inspections 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. 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 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 Instrument shall be educed by
<br />the amount of the proceeds multiplied by the following. fra�on: (a) the total amount of the sur>is secured zaediately
<br />before the taking, divided by. ?a3 the fair market.vahie of Im Property immediately before the taw - ag_ Any be
<br />.. paid to Borrower.
<br />If-.the Property is abandon by BarroWer,. or it after]-notice by Lender to Boaz wer that the condemroz! c,4 rs`tc'
<br />rrlakt an award or settle a da,! -- farusages. Borrower fails era respond to Lender wit:.lir,.30 days•.after the date the notice is
<br />inert, Len. -aer is author iz: d i dect and apply the proceeds, at its option. either to restorarn:t or repair of the Property er .
<br />To the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or 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 any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers 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 original Borrowerer 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 Assigns: Bound; Joint and Several Liability; Ca- signers. The covenants and agreements of
<br />this Security Instrument shall hind and benefit 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 co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally 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 instrutment or the Note without
<br />that Borrower'scoment.
<br />12. Loan Charges. If the loan secured by this Security Instrument 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 loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permiand limit. and (b) any sums already collected from Borrower which exceede l
<br />permitted limits will be refunded to Borrower '.ender may choose to make this refund by reducing the principal owed
<br />under the mote or by.making a direct paymerc to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment c'_•^arge under the Note.
<br />13. Legislation Affecting Lender's Ri4hts. If enactment or expiration of applicai�'iw laws has the effect of
<br />rendering any provision of the Note or this Scocrity instrument unenforceable according to its %�.r -.s, Lender, at its option,
<br />may require immediate payment in full of a;i sums secured by this Security Instrument ana. :�iay invoke any remedies
<br />permitted by paragraph 19. if Lender exercises this option. Lender shall take the steps specified in the second paragraph cf
<br />paragraph 17.
<br />14. Notices. Any notice to Bnrrc. AccT provided for in this Security Instrument shalt be .Yven by delivering it or by
<br />mailing it by first class mail unless law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Bor., ,.c:r 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 he deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall he 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 the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument arid the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Burrower shall he given one conformed copy of the Note and oft his Security Inslruillenl.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property ur 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 oft; vises this option, Lot ii:7 "small gi"vt 11VrioWer I1C t ;. of acceleration. i }tt nom. .t;d'i �,r,iYlda a 7i rtt7d
<br />of no' 3em. than 30 days from the ckr°e the nom t.- is delive .-ed u,- maih!: � west fin which Borrower mull n:iy 4,; .�aiis secured by
<br />this fi::: .�rity instrument. If Borrv,,_r fails t py these s::• m- r.rcor t tree expiration of this period. Lend-r rr; t� invoke any
<br />remedies permitted by this Security Instrumic -i without further r.:,,1 _ ^ ;T demand on Borrower.
<br />18. Borrowers Ripht to Reinstate. iT Borrower meets cectwi:` rcmditiom:, Burrower %ha') l:<t•c ai:
<br />enforet -icnt of this Security instrument disc :mtinued at any alma ; ri r `o the earlier Of!.'!; � dil' ;s t or s.Wh' wet rer-(Xl as
<br />law may specify for -e:nstaiemeul) before sale of th—, Property pursuant to an% lower of sale in th;'.
<br />Sccur:t, lastrumerit: or (b) c ^r.-. J a judgment enforcing this Security instrument. Those 04:d:t ones liorroa _•r.
<br />(a) pays Lender a',i v ;lh: 7e i would He due under this Security histrurwul and tt :• %,ae had n•• avc•elerafmn
<br />occurred; fb) cure -', a . ' default of any other c >):enctnls nr agteernews_ i:) pay% all e•xpem., ir; :* r is cnforcing gels
<br />Security Instrument, including, but not late ;te_° to. reasonable altorney:; fees, and (d) takes such ao:c.n .rs Lendet Miry
<br />reastmahly requve to assure that the lieu of thi% %ccurity Instrument, lvnder*�, right% nr the Property and linrrouer'%
<br />nhhgation to ray life sums seciited by this 5ccrfnty imtruttrrrrt shall coillif,uc dnrh;ti+gvd, t'prlf, Ivin"lalvmcnt by
<br />Iloru+ucr: this ticcunly luslrt+incnt :mil tilt:.1bligauous sc, urcil herchq 011111 t,rna)rr fully 01r0iVe a% rl 1w accel'o,+hoo lual
<br />occurred llom c%er. this right to reinstate %hull 114+1.+pply ill the case of :rc- :Icr.rti rr under )�- starer, +pb� 1 t „r 17
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