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<br />89-- 103614
<br />If Lender required mortgage insurance as a condition of making the loan secut''ed by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in affect 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. Condemnatlon. 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 and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shalt 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 />i 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 Lender to Borrower that the condemnor offers to
<br />make an award or settle tt,t:l;t;rxs, for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given. Lender is authohim -A to(zO rm and apply 6e Dr'raceeds, at its option, either to restoration or repnt; of the Property or
<br />to the sums secured by this yectirity Instrument, whetheror not then due.
<br />j Unless Lender and Borrower otherwise agree in writing:, &iy. application of proceeds. to principal shall not exCei.d' or
<br />y postpone the,dri,edate of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10. iS'orrowtr Not Released; Forbearaaee )fit; Lender Not a Waiver. Extension of the time for payment or :.
<br />tmWilication of amortization of the sums secured 0. this Security Instrument granted by lender to any successor in
<br />interest of & -,trower 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 tame for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of aav demon. d made
<br />by the original Borrower or Borrower's successors i.n. ivtarest. Any forbearance by Lender in exercising 4nt ,right or remedy
<br />shall not be a waiver of or preclude the exercise of ariy right or remedy.
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<br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreemc hts of
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<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the priaaisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
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<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 stma sect—ire .t b; th�� Q_—Ur it; !:� trssMC :t; and ;t; agr_— that Undcr and any :ttl:.-r °orr:.w.-r may agree no caterid,
<br />modify, forbear or snake any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />V. Laan Chin --ea. If ilia- loan sevurcd by this Security Instrument is subject to a law which, sets maximum loan
<br />charges, and that law is finally interpreted so thac.the interest or other loan charges collected or W be collected in
<br />connection with the loan exceed the permitted limits. then: (a) any such loan charge shall be reducai by the amount
<br />necessary to reduce the charge to the permitted litztrt ;'and (b) any sums already collected from Borrower which exceeded
<br />permittui hmil., veil1 be refunded to Borrirtstx. • Under may chervse to make this refund by reducing the principal o%ed
<br />under the hL,*4, r by making a direct payment cq Sim ower. if a refund reduces principal, the reduction will be treated as a
<br />pcirual prepayment without any prepayment charge: im- der 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 i.is terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any reretedies
<br />permitted by paragraph 19. If Lender exercises this option, lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
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<br />14. Notices. Any notice to Borrower pro-, tded for in this Security Instrument shall be givcn.tyy: Olivering it or by
<br />maiiing'a by first class mail unless applicable law requires use of another method. The notice shall be directed to r.he
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<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. An.p xiotice
<br />provided for in this Security Instrument shall be-dimmed to have been given to Borrower or Lender w h:en.given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. ThL,;- Security Instrument shall be governed by federal law and the Baal of the
<br />jurisdiction in which the Property is located.. In the event that any provision or clause of this S,itt:urity instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Scr.uritir instrument or the '.Vote
<br />which can be given effect without the conflating provision. To this end the provisinnc of this ,%,- ciiriry,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 ifa 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 he exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security instrument.
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<br />If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30day% from the date the notice is delivered or mailed within which Horrower must pay all rums 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 />remedies permitted by this Security Instrument without further notice or demand on Horrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Horrower shall have the right to have
<br />enforcement of this Security 11AITUrnent discontinued at any time prior err the earlier cif (a) 5 days for such rather period as
<br />applicable law may speofy for reinmatement) before s to of the Property pursuant to any pnwer of sale coritalnetl rti this
<br />Securtt) Instrument, or (b) cntr) of a )udgracni enforong this Security In arttrnent i hose conditions are that Horrower
<br />1a) pays Lender all sums which then would tic due under this Securit Instrunterit and the Note had nn ar,deratiwi
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<br />oct.urred. (lit cures any default of any other tosenant•, tit agtecrnents pays all e%pcnscs mcuircd ut entnr.ing this
<br />tieeurit) Indtruntent, including. but not limned tri. reak.mablc Ittotncy,,• tics. and r(i) takes �u, h ,r..tnm a, niai,
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