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r 89.-.103075
<br />If Lender required mortgage insurance as a condition of making the 1o.irt secured by this Security Ittsmmente
<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 />S. 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 toan inspection specifying reasonable cause for the inspection.
<br />9. Cowdemnation. The proceeds of any award or claim for damages, director cortsequentiah. 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,th!,5 Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of tint 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 frat;666_ (t) the tooml amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Pr spert} irrr=&tely before the taking. Any balance shall be
<br />paid to Borrower•
<br />If the Property is abandoned by Borrower. or if, after note by Leader to Brrrower that the condemnut- offers to
<br />make an award or settle a claim for damages, Borrower fails to re'spand to t tinder within. 30 days after the date the: notice is
<br />given, Lender is authorized to collect and apply the proceeds, units 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 writingr - any application of proceeds to principal shall not emend or
<br />postpone the due date of the monthly payments refereed to irx ptsragraphs I and 2 or change the amount of such Payments.
<br />10. Borrower Not Released; Forbearance By Legdtae Not a Waiver. Extension of the time for p�t or
<br />modification of amortization of the sums secured by this Security Instrumentp granted by Lender to any successor Ap.
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<br />interest of Borrower shalj. 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 sums secured by this Security Instrument by reason of any demand made
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<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. Suceesiorss and Assigns Bound; Joint tetrd Several Liability;. Cosigners. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the su° tmors and assigns of Lender and Borrower, subject to the provisions
<br />of parag aph 11, Borrower's covenants and agreements,Oiall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- sigtisrtg;'t15is Security Instrument only to mortgage, grant aird convey
<br />th3t'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
<br />_extend;.
<br />moony, forbear or make any accommodations with regard to the terms of this Security -Irrif ti it:nt o! the Mowwitliotif-
<br />that Borrower's consent.
<br />12. Loan Charges. If the loati secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interp'roaed so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitter -ft fits. then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitt4,l:im—fr; ;uid (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Under mayr choose to make this refund by reducing the principal owed
<br />under tho•Note or by making a direct liayment to Borrower; [fa-refund reduces principal, the reduction will be t,tqated 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 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 notice to Borrower provided for in this Security Instrument shall be gicwn by delivering it or by
<br />mailing it by first class (nail unless applicable taw requires use of another method. The notice shall be directed to the
<br />Property Address or aiig,. .tither address Borrower designates. by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lenders Addresssta.ted herein or any other. address Lender designates by notice to Borrower..Any notice
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<br />provided foiin this Security instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />1S. Governing Law; Severability. This Security Instrument shill be governed by federal law and the law of the
<br />:,.*isdiction 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 he given effect without th>: cbnflicting provision. To this end i he.provisiads`of this Security Instrument and the
<br />Mote at a declared to be severable.
<br />16. Borrower's,Cbpy. Borrower shall he given one conformed uirpy of the Vote and of this- Security Instrument.
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<br />17. Transfer of:;tbe Property or a Beneficial Interest in Borrower. If all or any pari4: irihc Property or any
<br />interest in it is sold or transferred (vi ;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 Cult d -all sums
<br />secured by this Security Instrument. However, this option shall not be cxetcised by Lender if exercise is prohibited by
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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 period
<br />of not less than 30 days from the date the notice is dehcered or marled within which Dorm,4CO. mu'.1 pay ail .urn% secul eel by
<br />this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke an)
<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 .hall ha%c 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 conteiired in this
<br />L Security Instrument; or (b) entry of a judgment enforcing this Security instrument Those conditions arc that llornrwer
<br />(a) pay; Lender all sums which then would he due under this Secunt) instrument and the 'Vote fiat] n : rrrlrrai nn
<br />occurred; (b) cures any default of'any other covenants or agreements; (c) pays all expenses ur:urrcd in ,uf;•i,mg !hn
<br />Security instrument, including, but not limited to. reasonable altorneys' fees. (d) taker arch artier, .,1 t cinirr tray
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<br />reasonably require to assure that the lien of this Security Instrument. Lender's right; in rtir hn- pi!tiy .slit i {..r:,.,,::i •
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<br />obligatwrn to pay the sum~ secured by this Security in%truinent shalt' continue unehangf.-d Upon rr,:,.t,rtrn:rn: r,ti
<br />liorrciwer,
<br />the, 5ccurit; im!rurnent and the hereby shall reruns, full) 011., 11%c a- it i • a, L r i s r: u: a, !• u!
<br />occurred Ifuwcocr, thv. right tai reinstate shall riot apply in the ::ox of air eleration unt]cr ; ar., pal hti 1 of i
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