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<br />90-- 40485 - _
<br />If Lender required mortgage insurance as a condition of making the Loan tecured by this Security Instrument,
<br />' Borrower shall the pralWumirequired to marmam the insurance in effect until such time as the requirement for'the
<br />insurance n - - _. - - " --
<br />g. lagwetioo,, Lettuce of its.tigent 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; The proceeds of any award or claim for damages, direct or consequentiai. in connection with
<br />- any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are. herehy
<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 />i 'instrument, whether or not then due, with. any excess paid to Borrower. In the event of a - partial taking of the Property,
<br />unkss Borhawer and Lender otherwise agree in writing, the stuns secured by this Security tnstrument ihall 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
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<br />paid to Borrower.
<br />t If the Property is abandoned by Borrower, or if, after notice 'by Lender to Borrower that the condemnor offers to
<br />C 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 gption, either to restoration or repair of the Property or
<br />i to the stuns secured by this Security Instruirtent, 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 1 and 2 or change the amount of such payments.
<br />10 Borrower Not Reieal;4- Forbearance By Lender Not a Walter. Extension of the time for payment or
<br />i 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 />j 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 osigiaal Barrow.. -t' or- Barroom'vsucvamn,&iwinterest.- Arty -forbearance-by Lenderimexm- isinganysigttt or remedy
<br />I shall not be a waiver ofor preclude the exercise of any right or remedy.
<br />? 11. Successors sad Assigns Bound; Joint and Seventl 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 jgint 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 />i 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 Instrument or the Note without
<br />that Borrower's consent.
<br />12. Lem 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 permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will 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. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation 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 payment in full-of all sums secured by this Security Instrument and may invoke any remedies
<br />F permitted by paragraph 19. If Lender exercises this option, 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 be given by delivering it or by
<br />mailing it by first class mail 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 notice to Lender. Any notice to Lender shall be given by
<br />first class mail to LendWs address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />i 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 />15. Governing law; Severability. This Security instrument shall be 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 and the
<br />Note are declared to be severable.
<br />lb. Borrow'er's Copy. Borrower shall be given one conformed 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 of 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, natural
<br />-person) without Lenders prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />- - secured by this Security Instrument. H ^wever, this optints shall not be exercised by 1 ender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Leitder shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or trailed within which Borrower must pay all sums secured by
<br />_this 4penrita Inornment_If Harrower fails to pay these sum�_prior to the expiration of this oerimi, Lender may invoke any
<br />remedies permitted by this Security instrument without further notice or eemand on Horrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in thi%
<br />Security instrument; or (h) entry of a judgment enforcing this Security instrument 'i hole conditions arc that Borrower: -
<br />(a) pays Lender all sums which then would tie due under this Security Instrument and the Now had no acceletatton
<br />occurred; (b) cures any default of any other covenants or agreements. (c) pays all cApettxs incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable attorney,, fees; and (d) take-. such action w, i ender inay
<br />reasonably require to assure that the Iten of this Security instrunictit, Lender% tit file Property and l3nrr<�wet4s
<br />obligation to pay the sums secured by this Security Instrument shall contume tinchatriged t'ptm retrtstattcrnent by
<br />Borrower, this Security Instrument and tlre.obhgatiuns.seCtired hetcht• shall rvinam fully rffcctnca-.)f rn. acccicniuon h.ut
<br />occurred. ilntvever, this right to reinstate shall not apply-in lire Cate of arct-rletattY m u;td• r p -inlet 1 ; , ti 17
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