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<br />90- 105555
<br />rif Lender required mortgage insurance as a condition of making the loan secured by this Security instrument,
<br />i 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 />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. Condemnation. 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 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 amoiijv 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 tender to Borrower that the condemnor offers to
<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, Leader is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />toihe sums secured by thisSecurity 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 />pa:stpone the due date of the monthly payments referred to in paragraphs i and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Il. ndtr 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 th-c sums secured by this Sec- rity Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in inter.w - Any fortwwarce h) Lender in exercising any right or remedy,
<br />i shall not fie a waiver of or preclude the exerciie of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; C"lltners. The covenants and agreements of
<br />this Security Instrument shall bind and benefit rite successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be point anal s-o eral. 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 conve),
<br />that Borrower's interest in the Property under the terms of this Security Instrument: (h) is not personally obligated to pay
<br />the sums secured by this Secunty 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. Loan Charges. If the limn secured by this Security Instrument is suhlect to a law which sets maximum loan
<br />charges, and that law is finally. interpreted in that the interest or other loan charges collected or to he collected in
<br />connection with the loan exceed the permitted limits. their la) any such loan charge shall he reduced by the amount
<br />necessary to reduce the charge to the permitted limit, and (b) any sums already collected from Borrower which exceedect
<br />permitted limits willi 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 />IJ. 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 Secu-nty Instrument unenforce:thle according to its terms, Lender, at Its option.
<br />may require immediate payment in full of at; •ours secured by this Security Instrument and may insole 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 fu.r in this Security Instrument shall he gisen by delivering it (Ir by
<br />mailing it by first class mail unless applicable law requires use of arimlhcr method. 1 he notice shall he directed to the
<br />Property Address or any other address Borrrwrr dcsignatex h% nauee to Lender An) notice to Lender shall he Riven Mp
<br />first class muil tr Lender's addrem stated hereto or any other addt4m,* Leader designates by notice at &►rruwer An) notwt:
<br />provided fir in this Security Instrument shall be deemed a,. tin %c hecn given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law. Severahiliw, . This Security In%tru nient shall tk goserned h) federal law and the law of the
<br />tunsdiction in which the Property is located. lit, the event that any provision or clause of this ~county 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 pruvimom of this Security Instrument and the
<br />Note are declared to he se%crahle.
<br />16. Borrower's Copy. Borrower shall he given one contitrn ed copy of the Note and of this Security Instrument
<br />Ii 'rMmswtmr� nr rte er a gr_eNti -tl !n!emr t. Herretter i.• all .. .i,.. I�....�.,.,
<br />interest in it is sold or transferred (or if beneficial interest In lorrower is sold or transferred and Horrower is not a natural
<br />person) without Lender's prior written consent. I ender nay. at Its option. require intintx late payment tit full of ill ruin,
<br />secured by this Security Instrument. Nowcser. this option shall not he exercised by Lender tf exercise i% prohihited h)
<br />federal law astir the date of thisSectimy Instrument.
<br />If Lender exercises this option. Lender shall gtxe Borrower nonct• of a«eleraeiuit 'I he t oiwe shall pros idea pen.ri
<br />of not less than 10duys from the date the notae i.deh.ercd er mailed within whi. h W .rater rtrsr pa) all sums secured i-%
<br />this Security Instrument. If Borrower fads topAg thew suHtos prior to the exptrau,•r ,•f -.his penal. I ender nice. rout Ike an.
<br />remedwt, permitted by thisSccurnty Instrument Aithout tturcher nuticeI r demand. 41 11~•rn.wet
<br />12. Borrower's Rigbt to Re uis ate. If fttorrower mect..ertaiv �ondnioii%. Horrower shall ha.e the r.ghl iv hasp
<br />enforcement ofthis'Securn) Instrument dnc+witinued at aa} Iltra $ -iwt a,• the earlier of (a) S d..s ror such ether pernKl..
<br />applKahle I,aw slay %pear) for rritmatemenilhefore sale of the• Pn.perr) pursuant it, any ptowcr d-.Ae t-ni.00cd In ih�%
<br />Secant) Instrument; or (h) entry of a yidgincnt enfor tng this Sc.urity liwi timent 1 how comla; _--er rr it Horrower
<br />co puss Lender all sums which then would he duc in.1er this Securtts Insttunicnt and the Norc 11.1,1 1;— .i..Cler;tuon
<br />exo.urred; (h) cures any defuult of any other ,v- %eiiams or agreements. Icy p..)% all extx•rt%cs In.urred it, oifiliciog tilts
<br />%ecurit) Imtrutnent, including, but not hmaird to, reast•iiahle attorneys' ore.. and lilt talc% su.li a.tton .1% 1 ender tons
<br />reawmahly require to assure that the hen of this %ecunty Instrument. l endet'% rights .n the I'tolwrts and Horrower'%
<br />obIlganon to pay the sums secured by this Sei urity lmttumoit .hall t o itme undianged l'lunl tellMatenicrtt hs
<br />Bomtwer, thlskkunty Imtrument and the obliganomseturcd 11ctch. %11,111 remain lulls 01e,im. it%11 lit, at kclet.iLIII had
<br />mcutred. iioweser, this right io teinstatc %hall 11411 appl% m oor.• ;I%v of a..elrtation . order la tag r.y'll% I I -,r I'
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