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<br />r 90--10 14
<br />If Lender required morign insurance as a condition of an making the lo 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 "applicable law-'
<br />8.. Itaetioo. 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 ocause for thi neon with
<br />9 �, The prQCeeds of any award or claim, for damages.. seq
<br />any condemnation or other taking of any part of the Property, or for conveyance in Lieu of condemnation: are hereby
<br />_ --
<br />�— ed- sltall be paid to Lender, —
<br />- shall be applied-to the sums secured by-this .
<br />In the event of a total taking of -the: it rbgert� the pr�«ds i
<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 />- - - - - -- -- - - Wmv4he- flaking• 4t balan
<br />before theaaking, d —o y e air mar � — -- —
<br />paid toBorrower. to
<br />`
<br />U the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers
<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 against any .successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sutras 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 a waiver of or preclude the,exercise of any right or remedy.
<br />11. 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 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
<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 />the sums secured by this Security Instrument; and (c) agrees that bender 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. Loan Charges. If tite 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 />r expiration of applicable laws has the effect of
<br />13. Legislation AtY� cting Lender's Rights. If enactment o
<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 />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 nuiice io avrrower'provided for in this Security Instroment 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 Lender's address stated herein or any other address Lender 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 />15, Governing Law; Se:erability. This Security Instrumi-nt 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 Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note aredeclared 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. Transfer of the Property or 4 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 arid Borrower is not a natural
<br />person) without Lender's prior written consent. Lender may. at its option, requre immediate payinent in full of all sums,
<br />secured by this Security instrument. However, this, option shall not be exercised by (.ender if exercise is prohibited by
<br />Festerri tasa�asuf thedat� of this Security instrument.
<br />if Lender exercises this option, lender shall give Borrower notice of acceleration. i ate notice cbaii ptuvititc a �xiirrd
<br />of not less than 30 days from the date the notice is delivered err mailed within which harrower roust pay all �;utns secured by
<br />this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any
<br />reinctiic�pc, �„ itir:ythi_, S_- auriFyTnciriim@ flurstrhoutfurthurruttectnticittaity .�rii1e.r:�:+ti r.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Horrovo er shall nave Cite fight iv i,avc
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) g days (or such other period as
<br />applicable taw may specifv for reinstatement) before sale of the Property pursuant to an:y power of rile contained in rhii
<br />Security Instrument: or (ti) entry of a judgment enforcing this Sccunty Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all Burns which then would be due under this Security In.trunient and the Note had nn acceleration
<br />occurred: (h) cures, any tdefault ,,f any other covenants or agrecments. (c} pays ail expense, incurred to cnfc,nn,g -nay this.
<br />seeurity lositurrtent, including. but not llrttateci if). reasonable: attoruey� fce-_ and (d) takes Such at<hvn is Lender roues.
<br />reasonably - require ti) unsure that the hen di this eeunty ins,trurr•tii. €.endrr %a rawntti :rr !lie €'ruperty ans4 Barr�t«er s,
<br />obligtition to pay tile sums secured by this Security Instrumcut i,ull omili,ue unch.inged. Upun reinstatement by
<br />Bt,TSUwcr. t, hr. ti«urny' instrument anti the obhgatimis secured herchv',hall rcmnut 1 oliy eifeetttic ,F� t( uv .ICCC leratiutt had
<br />occurred liocse4cc., this right to reinstate shaline,t tappk iia fair c.i:e oif:sc rlcr�tlt n!uider`';�,:r:,gr:epii. 13 or 17
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