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<br />89- 102803
<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 insuraice in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and !.sender's written agreement or applicable low.
<br />8. Ittagecction. 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 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 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; For6etiiraaee By Leader 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 Borrower's successors in interest,
<br />Lender shall not be required to commence progeedings 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 Borrower or Wrovwer'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. Saccesmes std Assilprs Bound; .Iutnt and Several Llabil1q; Co-signers. The covenants and agreements of
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<br />this Security Instrumedpshall bind and benefit. the successors and assigns of Lender and Borrower. subject to the provisions
<br />of paragraph 17. Borrower's caLcnants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />instrument but does not execute tha Note: (a) is co- sighing this Security Instrument only to mortgage. grant and convey
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<br />that Borrower's interest in the Property under the terms of tliis Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; add ('cA agrees that Lender and any other Borrower may agTer to extend,
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<br />modify. forbear or make any accommodations with- regard to the terms of this Security instrument or the .Vote without
<br />that Borrower's consent.
<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
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<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 ptermimcid 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 rot8a7ng 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 Lender's Rights. If enactment or expiration of applicable laws hay the effect of
<br />rendering any provision of the Note or this See.urity Instrument unenformble according to its terms. Lender, at its option,
<br />may requite immediate payment in full of aH sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragmyh, fi?.
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<br />166 Notices. Any note v to Borrower provided fitir in this Security Instrument shall be given by delivering it or by
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<br />mailing it by first class, snail unless applieab!4 law requires use of another rneLftod. 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 Lender's address stated herein or any other address Lender desig,iatcs by notice to Borrower. Any notice
<br />provided -for in this Security Instrument shall be deerned tea have been given to Bor cwwer or Lender when given as provided
<br />in this, paragraph.
<br />t5. 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. Let the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such cor.$ict 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 Instrrbmant 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 Securthr Instrument. -
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or antsy
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natu.r 21
<br />person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all scones.
<br />secured by this Security Instrument However• this option shall riot he exeicised by !.ender if exercise is prohibited:• fns"
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<br />federal law as of the date of this Security Instrument.
<br />if Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a pericni•
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security instrument. If Borrower fads to pay these sums prior to the expiration of this period. Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand nn Borrower
<br />14. Borrower's Right to Reinstate. if Horr(iwer meets certain tatnditu)ns. Ht•rrctwer shall h_rvc ihi• riglit io have
<br />enf ucement of this Security Instrument discontinued at any time prior ttr the earlier of (a) 5 dais (or such other period as
<br />law for
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<br />applicable may spcof) reinstatement) before sale of the Property pursuant to any power of sale contained fit this
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<br />Security instrument, or (h) entry (if a judgment cnforcmg this Security Instrument 7 hose condi miss are that Borrower
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<br />(a) p ys 1 envier all sums which then would he due under this Setunty Instrument ;tit() till- Now had ml- jc,cicratnr11
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<br />,rtcurred. (b) cures any dcfaulr of an} littler covenants or agrectncnls. lc t pars .ill rsprnsrs incurred lit cot „rem): stns
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<br />`ccurtt} lust, umciit. incluilmy.. but 11111 hrntled to• reammahle utuirnc•ss fees .,rill t,i i t.ri.cs slit h .t, hon .ts 1 crrth•r uran
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<br />veil- wrinhls rritutrc. t•• assure Ihai the iien 4 this Security instrument. 1 cmit -ir. ',,;l:t. in tLr Propene •uni ti. ,rr•,.t<r ".
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