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89-- 142888
<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 insurance in effect until such time as the requirement for the
<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 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 dany 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 arty excess paid to Borrower. In the event of a partial "king of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security instruamn& 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 balan,:e 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 1 and 2 or change the 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 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 proceedings agaatist any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured ry this Security Instrument by reason of any demand made
<br />by the original Borrower 'or Borrower's successors in interest. Any forbewance by Lender in exercising any right or remedy
<br />shall not be a waiver ;.,sor preclude the exercise of any right or iremedy:.. •,
<br />ll. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors anti 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
<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
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<br />the sums secured by chic c,rt„niv Ina.. .n1, and (c) --grew that Lender and any ot::c: M-4-tower to exieitu,
<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. 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 otter loan charges collected car to be collected in
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<br />connection with the loan exceed the permitted limits. theca: (a) any such loan charge shall be reduced by the amount
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<br />necessary to reduce the charge to the permitted limit: and (r)i any sums already collveted from Borrower which exceeded
<br />permittedi limits will be refunded to Borrower. Lender rnaj %Abose to make this refund by reducing the principal owed
<br />under the dote or by making a direct payment to Borrower. If a refund reduces principal, the redw4tion will be treated as a
<br />partial prepayment without any prepayment charge under the. Note.
<br />13: Legislation Affecting Lentil'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 accord: ng to its terms, Lender, at its option,
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<br />may require immediate payment in full -of all sums secure by this Security Instrument and may invoke any remedies
<br />permitted b paragraph 19. if Lender exercises this option, Lender shafit take the steps specified in the second paragraph of
<br />14. Notices. Any notice to Borrower provided for rat this Security Instrument shall be given by delivering it or by
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<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. Arty notice to Lender shall be given by
<br />fir4 class mail to Lender's address stated herein or any other address Lender designates by notice ebcBorrower. Any notice
<br />provided for in this Security Instrument shall bideemed to have been given to Borrower or Lender4hen given as provided
<br />in''this.paragraph.
<br />M., Governing Law; Seveirability. This Security- Instrument shall be gov errred. by federal law and rite law of the
<br />jurisdicdcq'in which the Property is located. In the event thhat any provision or cUixm- of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict s♦hai:I nec affect other Security Instrument or the Note
<br />which can be givercet%ct without the conflicting p ayis�pn. To this end t to cravbs'wns of this Secu ! *y Instrument and the
<br />-Note are declared tit be severable.
<br />M. Borrower's Copy. Borrower shall be given one conformed copy of the Mote and of this Security Insirum.oent.
<br />17: Transfer of the Property or a Beneficial Interest in Borrower. If ali 6r 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 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 exeiciscd by Lender if exercise is prohibited by
<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 period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums %ecured by
<br />this Security Instrument. if Borrower fails 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 on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall hasc the right to have
<br />enforcement of this Security Instrurnerit discontinued at anytime prior io the earlier of (a) 5 days for such other period as
<br />applicable law inn) specify for reltixtarcment) before
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<br />sale of the Pri,prrty pursuant to any poster of sale t.t,titau,ed to tilts
<br />Security Instrument: or (h) entry of it judgment enforcing this Security lnstrunu•nt These
<br />coutim(ms arc that fornmer
<br />(a) pays Lender all %um4 tr,hich then would be due under this Security Instrurnctit and the- Note (tad nn a erltrahon
<br />h.
<br />rlccurred, (h) cures an) ilefault of an) other ,:t,venantc or agteernents. tc► pays ,ill ctrenscs nicurrrd ni cntt,rting on..
<br />Security litorurnent. nicluthng. t,ut n„ t limited to, reasf,nahle attorneys" fee♦. anti tilt tak" ♦u: 1 .1k 1111111 .1♦ 1 t- ntlt•1 tilts
<br />reawtu -N., require t•, a ♦4UIC that the her, „t this 5t:umy ltltitllln,ettt, I.L'r1a:t rq-111. :1; rt::' l�r.,lKit1 :fn,i li.•It••ta'r ♦
<br />ohl►ftat:.ai If, the
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<br />pm, Nunn" secured h,, till. Security instturnent shall .,mta:r. ❑n, h.n1�a,1 1 I,.,, 1, n,,t.lrt n,.1it �•.
<br />Hr,rrnaer tht, set ur is iii tnitnent and till•.. hligattons sct Lord herchs Shall r,1t, „1, i,,ll; rtlr. t, %t I'll 1t•:,,- 1, + ti •.t• 1. f.(
<br />1K urrt tt (l ,ur+t't. ttus light t,, trnr.!aft s6ail nut apply 171 the • ,1,;• ..f 1, .ch .tor 1 ,1r1 J - 1+.1,•r t1.,1, 1
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