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103125
<br />1 If Lender required mortgage insurance as a condition of making he
<br />Borrower sliali 8 loan secured by this Security Instrument,
<br />pay the premiums regtvred 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 />fit. hispection. 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. Coadeseaatlos. 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 gait 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 mender to Borrower that the condemnor oilers to
<br />make an award or settle a claim for damages, Borrower fails to respond tT 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 agreein 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 Releaw* FbrDearaace 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 sucoesswr in
<br />f 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 amortizaticni laf the suruus secut:ed: by this Security Instrument by reason of any demand made
<br />by the original: Borrower or Borrower's suoc essors in, intervsi - Any. (brbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of of preclude the exercise of any. ti: ht. or r'=' x y.
<br />Srcoessfin and Assigns Bomd-, Joint'aad Several tisbillty; Co.aigttKra. The covenants and agreements of
<br />this Security Instrument slistllbind 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 ei=te the Note: (a) is co-signing this Security Instrument only to mortsae�, a t and n;,=�
<br />aril iorrower's imerest in 'the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the stuns 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 />12. Lfaara Llarges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and tint-' law is finally interpreted so that the interest or other loan charges celle�ted or, to be collected in
<br />connection with the lean exceed the permitted limits, then: (a) any such loan charge shall be. redu(axi -:by the amount
<br />necessary to reduce the- ebarge to the permitted junk`,; and (b) any sums already collected from;'Be i*C%1 r which exceeded
<br />permitted limits will br refunded to Borrower. Lender may choose to make this refund by rewttg:'the principal owed
<br />under the Note or by making a direct payment to Borrower. if a i;dbnd reduces principal, -Fie reduction will be treated as a
<br />r' partial prepayment without any prepayment charge under the Note.
<br />13, Legislative Affecting Lender's RiOts. 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 fly- this Security Instrument and may invoke any remedies
<br />r 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 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; Severability. This Security Instrument shall be governed by federal taw; 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 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 exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercisei 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 marled within which Borrower must pay all sums secured by
<br />this Security instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may unnoke any
<br />remedies permitted by this Security instrument without further notice: or demand on Borrower.
<br />fs. Borrower's Right to Reinstate. If grower meets certain cnndittons. Borrower shall have the right to base
<br />Li enfarc:mert of this S-, uniy instrument disco-= .nucd at an} limn prior to the earlier of (a) 5 dayti (or such (ether period as
<br />applicable law may specify for reinstatement) before safe of the Prulxrty pursuant to any power of sale contained In thl.
<br />Security Instrument, or (b) entry cif a judgment enforcing this Security Irlstrunlew Thti%c camditlons are that itorrvwer
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the tithe had n„ :xt,(•IctdlI11)l
<br />occurred, (h) cures any default of any other covenants or agreenrcnt.. is I p;,t. s11 e�;wlee: m; urr, -d In ..-ntor( u,i; stn.
<br />Secunty Imtnlli►eiit. including, but not limited tar, reauniable altorneys' fee. alld Ida takes '414, It e, 1:01 1• 1 .•n(i.•r 111,1%
<br />reasrmahly require te1 assure that the Ilcn of this Security Imirument_ I railer•% right, u1 ikc {'rrq.rrt� ,Intl lierrr.•(u I
<br />obllgailim ter (•aS the• sctuted by tlll� Security ll'IMUnlellt %half t,.I1tll;ttr j% %Il;tllp' I l t:. +S1 r1'rrt�tf(1(I(nt ht
<br />Itflrrm4cr. thlt ti('c.(Irlt► Imirumcrlt and file frhlig,IrtlOW,'^IIFCd herehy shall lelllat" tufty ( etc. +1.(- .1. It lire,,, - ; r rni:•'n h.1.!
<br />(K(urred H-;4c%tr this right t„reitmateshall niit aplfty rn filet aw4if at,rtrrart,•n ;, 1,j: + a,_(r,ll•r•It.t,,, I
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