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89"" 102551
<br />if Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower %hall 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'% writ ten agreement inapplicable lase.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall gig a Borrower notice at the time of or prior to an inspection specifying reasonable cause far 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 pan of the Property. or for conveyatrwY in heu of condemnation. are hereby
<br />assigned and shall be paid to Lender.
<br />In the event (if a total taking of the Property, the proceeds shall be applied to the suns secured by this Security
<br />Instrurnenr., whether or not then d=, with any excess, paid to Borrower. In the (vent of a partial taking ey the Property,
<br />unless. Sorrower and Lender Thzm, agree in writ6kg, Irra suing %ccured by thifrs 'nv uri ty Instrument s�auua lye reduced by
<br />the am.qunt; (if th, proceeds multiplied lily cite f %fk'A- gg.flrt{<;upn..: (,3.)> tie Wtwq ;alrsr4yant of fAc sums se><uwsi immediately
<br />before the. tali irot4 (;nvided b) (*Ni tx m. fhir mxt'ket. i,aIr� -.eO ah:: FnILXtrt'y 4M-.M- dl at:4 I+et,ose Itlht~'flaking: Any;.baIance shnth be
<br />paid. to Bom w,,r,
<br />If the PrY "pert) w. alb, vll 7edi ].IF &Nrqwer. rid tiff• al cur nett ;cc f*y; iCM2� T rNI, MnTrsv.er * ur. t:l' .q ai,ai&,zmnor rafEers t
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<br />1R iu a an award vir si-m e s cl ntrt, (°4 ►s dzimV .,134.,% ' Welt hfaL s to, }'4S,flli']! wilFiil7 ;0 Ij ilj."' irl l
<br />91,v :. L.erdcr, itirS`IVLI�`.'rized- Iect tatrtil :t; .'Y Ae proceeds. at either to remora Ii +117 sir i f; ;t ip 4s1j the rn:;Ority c ?r
<br />tla,tb,: sutns-,el: -ul.,d by this Security Instrummt. whether or nut their due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not exterid 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 l'or 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 Borrower's successors in interest.
<br />Lender shall not he required to commence proceedings against ..ny 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 Borrower or Borrower's succemovry 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. Sueeemors and Asltllm Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument shall bind 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
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<br />Instrument but does not execute t he Note: (a) is co•signi.ng 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
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<br />the sums secured by this Security Instrument; aitd (c) agrees that Lender and any other Borrower may agree to extend,
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<br />motdifv. forbear or make any a"mvimcidatinn% with regard t., the terms of !hi- G"•L'r:l,- instrument or the Notes wit-houe.
<br />s;
<br />that Borrower's consent
<br />12. L=n 0hdq.-m if the loan wured by tht% S=un:; Imtr untlent is subject to a law vrhich sets maximum loan.
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<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: Fab anj such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) arty ! ins already collected frt�err. Borrower which exceeded
<br />permitted limits will be refunded to &irrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Wrrouer. If a refund reduces principal, the reduction will he treated as a
<br />partial prepayment without any prepayment charge under the Note. .
<br />13. IAWslatio n Affecting Leader's'Rights. if enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may require immediate pa5vwnt in full of all bums secured by this Security lnstrument and may invoke any remedies
<br />permitted by paragraph 19.. If Lender exercises this optitin. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall he given by delivering it or by
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<br />mailing it by first class marl unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by noucc Sc Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or anv other address Linder designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or lender when given as provided
<br />in this paragraph.
<br />1S. Governing Law; Seversbility. 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 mote
<br />which can be given effect without the conflicting provision To this end the provisions of this Secunty 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. Traasfkr of the Property or a Beneficial Interest in Borrower. if all or arty part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest try Borrouver is sold or transfcrred 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 datr of this Security Instrument.
<br />If Lender exercises this option. Lcnder shall give Borrower notice of acceleration. The notice shy,1- provide a period
<br />of trot less than 30days from the datr the notice is deb cred or mailed within which Borroue:r must pay al?'sutns secured by
<br />this Security Instrument. if Borrower fasts to pay these sums prior to the expiration of this �tlod, Leader may invoke any
<br />temcdies permto¢ted by Ibis Security Inmiraaintnt w ithout further nh-sIiCC or demand on horrawrr
<br />18. Borrower's Right to Reinstate. if Borrower meets certain conditions. Bo�•rroterr shall have the right it) haw
<br />enforcement of this Securati Instrurnerit, discontinuesial any tittle pnor ill the earlier rlf- (ai 4 days (or svi:h other period as
<br />apgo'dci at e l aw may V e c & V f o r reinstatement) huff,10 sale of the Properl} puru:ant to ail} rawer of sale �ontairted ill this
<br />Sei'utme r1s runwrlt, of (W trair) oI s'tudg',Incla cilf -'rong thli Security in,rraineitt t rr..nrr crmcittions arc that Hormt%er
<br />to-) pars 1.m.-Serail Sums which theft 'N•v9wKt.,c duc under this S "nirity Itt onitnoit ,t-t(i the Note had no acc lkMi.ftieon
<br />et corred. iht sflm -% any- default of an` - riif cr ui%,rnants or agr+.'emenis• (c) pay+, all exl,x•r ;.^ incittred in cnfvfL tnp d nits
<br />Se,u►tly limturnrnt. induding. but r.t•,t tunurd lo. reasonable mtorne }s' fcc%. and rdi takes stu.h action ;is I ender rnM
<br />reas,inably tcaulrr to J%%U►e itiat the hm r,) Iblu 5c•tunty Instrument. lender% tlg %irt Ill the 11I4•1 -tm :Ind Hl +ill +ti l'f ••
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