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102506
<br />if Lender required mortgage insurance as a condition of making the loan secured by this Security Instrw:ner'l,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirenren= for tilt:
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Prcperty. Item e
<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, director consequential, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemn4rit n, 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 ofa pa -tial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing. the sums secured by this Sea urity f r atrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total. amc%nr of tre sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediat '� . o,efore the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if. after notic: by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fw- s to respond to Lend- »:thin 30 days after the date the notice is
<br />given. Lender is authorized to collect and apply the proceeds, at its option, either ,a >• restoration or repair of the 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 application of proceeds shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or charge r>✓% 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 Instrumerit granted by Lender to any 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 amortization of the sums secured by tEs Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any die: :e t: Lender in exercising --m v- right or remedy
<br />shat t not be a waiver of or prec'ude the exercise of any :ig,':,.t or remedy.
<br />11. Successors and - Amigns Bound; Joint art. Several Liability; Co- scw.Ers. The covenants a::d agreements of
<br />this Security Instrument shall bind and ber -,= t the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and. aZgreements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- s,,,�ing this Security Instr-:-eat only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the term of this Security Instru +:fit; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and ,.Eny 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 carsent.
<br />12. Loan urges. If the loan secured by this Security Instrument rs subject to a law which sets maximum loan
<br />charges, and that Zw is finally interpreted so that tb,a interest or other ', charges collected or to be collected in
<br />connection with the loan exceed the permitted limttc. thm: (a) any such 'Lan charge shall he reduced by the amount
<br />necessary to redaae,the charge to the permitted limit. ant (b) any sums already collected fr,m Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choo3t� to make this refund is reducing the principal owed
<br />tinder the Note or by making a direct payment to Berrcwter. If a refund reduces principal, (!:�: reduction will he treated as a
<br />partial prepayment without any prepayment charge ardor the Note.
<br />13. Legislation Afior6rg Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rcn-- ring any provision of the Note or t1oik &:curity I nstrument unenforceable according to its terms. Lender, at its option,
<br />mat -„,quire in:r•_•.ediate payment in fair )' all sums Secured by thi >, Security Instrurm ra .3rd may invoke any remedies
<br />; ,-. *!L -aph 19. If - Lender e:►e%—Nes this ar n Lender shall take the step~ spc : ;li +id in the second paragraph of
<br />paragraph 17
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<br />14. Netives. Any notice to Borrower prodfui for in this Security Imnrwnent soa;i he given by delivering it or by
<br />mailing it by Fi= +r .::as,, mail unless app'[is'-nle law rt;; uires use of another method. Tht•. at-;ice shall he directed to the
<br />Property Address •)r any other address B- - -rower designates by notice to Lender. Any 1, co trt Lender shall he given by
<br />first class mail to !sender's address stated l`ttsrcin or an) ether address Lender de -il rates 1-; n.auts to Borrower. Any notice
<br />provided for in this Security In•irrument shall he dccn,W t o have been given to or Lender when i7 ven ati provided
<br />in this paragraph.
<br />15. Governing Law; Severabii1ty.• T'iis Sec•jrity Instrumer: i %hall he p;.erned by federal ,i the law of the
<br />jurisdiction in ,i.hich the Property is lof::ated In the event that and pruvi,,ion or clause of ii-. 5:- Securtty Instrument or the
<br />Note conflicts with applicable law, such :,: ;9ict shall not affect rihcr provisicn% of this St?:t.nty Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the pros swans of ties Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall he given one conformed copy of the Note and of thi% Security Instrumcnr.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or ary part of the Property or any
<br />interest ni It 6 sold or transferred (or if u beneficial nttcre+t in Borrower 1: sold or ttausfei tell and Bor„twer i, nt ;t 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. %hall not he exercised by Lender if exercise is prohibited hp
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrower notice of accelerttion. fhe notice shall provide it peril +d
<br />of not less than 30 days from the date the notice is. delivered or mailed within which liorro vier rllust pay alI sums secured by
<br />this Sec unty Instrument. If Borrower fails to pay these,,unis prior to the expiration of this period. Le cider m.ty Invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on lion over.
<br />118. Burro- weirs Right it, Rviusiaie. if Borrower meets certain conditrom. iiorroner shatl hate rile rwilt rt+ flaw
<br />cnfui cernent of this Security instrument discontinued at any time prior to the earlier of (a) 5 dm'. (or such killer l.criod ,Is
<br />L applicable law ntay specify for reinstatement) before sale of the Pruperv. putsu in] 1 14, any poucr of sale contained nI this
<br />Sccurit} instrument, or (h) entry cif a judgment enforcing tills Security Instrument rhlicc crmdntons are that liorro%%cr
<br />(a) pays Lender all sums which then would be due tinder this Sectintg lnsttllttll'tlt and the 'ante had fill apt cleraron
<br />raccurred, (b) cures ,top default oaf any other c+vcnant% or agrecmctits. (,1 lm , all i-xiu•nst-, Incurred In ctifur.ln.'. tile•.
<br />Security instrument. including;, but not limited to, rcasculahlc attortio,-' tics. and id takc+ such'.icn•'tt .IS 1 fit:: r 11"v,
<br />tea;otiably reyutre to assure that the Itch cif this Security Gistiurnent. l etlacr's r;iaas m r's:e ! ^1 +F +city .Iii'. lit+ :+•uer't
<br />1 bit' to pay the suttiv sectitcd by th,s Sc -Ctlrm lusitefin tit Nihau .l+rltannr vnit-har.,:cd t pon rain•.; n •mlva I,'.
<br />ItUt[Uw C�. this Sol li[It r lfi,,trr11111'Ii1 :old rill' I •hliL.ttln Ili %:' ;urn!t he 1"01% 111 ell I^fll. 11111:. :. t I.11p1 tat' ,t ;; I ;t' 'a'l'Clt'r .t" •a :'.1.}
<br />«ura'd llt•uetrt. tiustlrht titre'rnst. ;tr•.tl,tilnl•tal +pit anihr _.t.r•t 1.tci:' *.i+1 ,^ an(':•t ;.1t.t.•r.ir.t1. ! t, ; 1°
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