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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 />1 insurance terminates in actor eance with Borrower's and Lender s wr men agreement or applicable law.
<br />8. 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 r&isonable cause for the iasP4ct.on.
<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 secure 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 the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<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. Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to 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 to principal shall riot extend or
<br />postpone the due date of the monthly pay paragraphs 1 and 2 or change the amount of such Paymcn ;s.
<br />ments referred to in
<br />10. Borrower Nut Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />mcdrtication of amortization of the suers secured by this Security Instrument -granted by Lender to any successor in
<br />int_rest of Borro:%cr 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 extent: nine 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 successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be,' v%at%er of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several L"a'U.]ty; Co- signers. The covenants and agecrnents of
<br />this Security Ins! runient shall bind and benefit the successors and assigns of Lender and Borrower, subject tot::: Prot isions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower wile co -signs this Security
<br />instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convc••
<br />I
<br />hat Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the suns` soured by this Security Instrument; and (c) agrees that Lender and any other Borrowcr naay agree to extend,
<br />niodif ;y, forbear or make any accommodations with regard to the terms of this Security Instrument or Elie Note without
<br />thai Borrow'er's consent.
<br />12. Loan Charges. 11-11 ' c loan secured by this Security Instrument is subiect to a law which sets maximum loan
<br />charges, and that 1.3%v is finally nterpreted so that the interest or other loan charges collected or to be _ollecIed in
<br />connection with the lean exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sum:, already collected from Borrower which exceeded
<br />permitted limits -wall be refunded to Borrower. Lender may- choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. Ifa refund ntduces principal, the reduction will be ;;:aged as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has tire effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terins. Lender, at as option,
<br />may require immediate payr.tent in full of all %urns secured by this Securit% Instrument and may invoke aav remedies
<br />permitted by paragraph N. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nutlet to Borrower provided for in this Security instrument shall be liven by deh%ermg ;t or
<br />h%
<br />mailing it by first class marl unless applicable law requires use of another method. Tlae ro ;ia shall he directed Io gilt
<br />Property Address or any other address Borrower 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 no!icc to Borrower. Any notic.
<br />provided for in this Security Instrument shall be deemed to ha%r been giccta to Borrower or Le:;der when giv
<br />i e as provide)
<br />Ili this paragraph. n
<br />15. Governing Law; Severability. This Sccu;rity instrument shall be governed by federal law and he Law oaf :he
<br />jurisdiction in which the Property is located. In tilt e%cnt that any provision or clause c,f this Security Instru:,:ent or the
<br />Note conflicts with applicable law, such cowl ct shall nut affect other provisions of this Security Instrument or the Note
<br />which can be goer e(iect vcithuut the eondictiag provision. To tins end ;he procisiuns of I11 c
<br />s Seurity Irstrumer.t and the
<br />tote are declared to be severable.
<br />16. Borrower's Copy. Borrowcr sh.,1 be ;_.ever. One conformed copy of the Note and of this security In, . ;r urnent.
<br />17. Transfer of the Property or a Beneficial Interesi in Eorruwer. if all or any part of the Prope.. :y or any
<br />lnlc-res: n, it Is sold or transferred (Or if a be n,:ficial tin ores; in 13orm\%er i" %old or transfcrn :d and Borrowcr s not a 11alUr:,l
<br />person) \v ithoui Lender's prior written tong:,:, 1_cndcr m :,y..o us onlion. rcquuc trout\ late paymcut art full of all suns
<br />secured by this Security Inarutncnt. 1io\%cv. :r. this option shall nut b•_ exercised by Lcrder if c.�crc,sc IN prolubilcd by
<br />federal la:v a, of rile date of this Sc, urity ltutr.!ment.
<br />f Lender exercises this option, Lender shall give Bur rovycr notice of acceleration. 1 !te notice shali pro% ide a per 1od
<br />of :io; Icss tha n 30 days from the date the no: :,:e is delivered or mailed w it hill v%h ;ch Morrow ,�r nwhi pay all .ems sccur;d ac
<br />this Security Inst orient. If Burrower fails to pay thc:.e sums prior to the cxfira ;too of tilts; cr ;ud. 1_t ndrl may c,u.,:
<br />remedies perr.a:tt %'• by tY,is Sa:urity Insl: ument without further notice ur dcn,and on Borrower.
<br />18. 13orro,ver's Is girt to Reirtst:,t It Borrowcr meets certain conditions. Borrowcr shall ha%c the nghl to l,.,vc
<br />enforccmrr,t 01'01,, Sccurny Instrument discontinued at any tittle prior to the carher of (a) S days (or such other pent (: .a
<br />applicable lain rosy specify for reinstatement) before sale of the Property pursuant to any prn%cr of sale cu :,t.uu :d In tl•;s
<br />Security lnstrur,lcnt; or (b) entry of a ju lgmeut enforcing this Security Im;run;cni. -those conditions !rc ti1:u Horn vvct
<br />(a; pays Lender all sums \%Inch then would lie uuc under this Security Instrument and the Note 1:..: 'o acce:rra, ;nn
<br />occutp:d• (b) cures any default of any other covenants or abreentents; (c) pays all expenses u,,urrcd u1 cn:urcu;g :11s
<br />Security instrument, including, but not linoted to, reasonable attorneys' fees; a.ad (d) takes such action as Lender n,av
<br />reasonably require to auure that the lien of this Secarity Iestrurncnt, Lender's nohts to tilt Pr(•per ;y sad B:,rruwcr',
<br />obligation to pay the sums secure by this Security Instrument shall continue unchanged. Upon remsiatcnlent b}
<br />Borrower, Ibis Security Instrument and the obligations secured hereby shall remises fully effective as If no acceleration had
<br />occurred Ilowever, this right to reinstate shall riot apply in the case of acceleration under paragraphs 13.-)r 17.
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