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<br />If Lender required' mortgage insurance as a condition of mailing the loan secured by this Security Instrument,
<br />,Borrower shall pay the premiums required to maintain the insurance in effect until such time
<br />as the requirement for the
<br />t insurance terminates in accordance with Borrower's and Lender's written agreement orappiicable law.
<br />hupeetioa. - Lender or its agent may make reasonable entries upon and inspections of the Property. Leader
<br />shall give Borrower notice at the time o(or prior to an inspection specifying reasonable cause for.the inspection
<br />9 Cendetttaunttoa. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condetnntttion or other taking of any put or 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 riot then due, with any excess vaid to BorpDwa. in the ofapartial.taic
<br />-event ng oFthe
<br />- irTg— a sums recur y tfiis e�curity 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
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<br />—� - -
<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?orrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />F make an award or settle a claim fir damages, Borrower fails to respond to1ender within 30 days the date
<br />after 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 sutras secured by this Security Instrument, whetheror 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 l and 2 or
<br />paragraphs change the amount of such payments.
<br />10. 1orrower Not Released; Forbearnni a 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
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<br />payment orbtherwise modify amortization of the sums sectfred 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 />It. Successors and Astlgna 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
<br />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 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 />1Z. Loan C4arges. 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
<br />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
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<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 Lender'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
<br />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
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<br />permitted by paragraph 19. if Leader exercises this option, Lender shall take the steps specified in the second paragraph of
<br />i paragraph 17.
<br />114. Notfees. 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 Lender's address stated herein or any other address Lender designates
<br />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; 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 />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 a Beneficial Interest in borrower. If all or any part of the Property
<br />orally
<br />interest in it is sold or transferred (or if a beneficial interest in Horrower 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 exercised 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 of not less than 30 days from the date the notice is delivered or mailed within which Borrower
<br />'
<br />must pay all sums secured by
<br />this Security Instrument If Borrower fails to pay these sums prior to tlae expiration of this period, Leader may invoke any
<br />remedies permitted by thisSccuriiy lawvurneni without further notice or demand on iorrower,
<br />. Ili. 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 .einstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrument, 'those conditions are that Borrower:
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<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but not limited to. reasonable attorneys' -fees; and (d) takes suchcfiiu► as Lender racy
<br />reasonably require to assure that the lien of this Security Instrument, Lender's right,, to the Prop"
<br />roperty and 1larreucr's
<br />m
<br />tit
<br />. g pay y
<br />obligation to a the stuns secured by thin Security Instrument shall continue unchanged. Upon reuastatentea,t I •
<br />Borrower, -this Security Instrument-and-the obligatiorw secured hereby shiilf remain fully effective as d Ito :acceici atlon had
<br />:
<br />'
<br />occurred. However. this right to reinstate shall not apply in the case of acceleration under paragraph,, 13 ear 17.
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