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<br />90� 105655
<br />If Lender required mortgage insurance as a condition of making the limn secured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance tern)inates 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 he 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 Lender 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, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sumssecured by this Security 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 />postpone the due date of the monthly payments referred to to paragraphs 1 and 2 or change the amount of such payments.
<br />i 10. Borrower Not Released; Forbearance By [.ender %nt 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 %ucces%ors to interest.
<br />4 Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise mafify amortiratton of the gums secured by this Security Instrument h% reason of any demand made
<br />by the original Borrower or Borrowers succe%sor% to interest. Any forbearance by I ender in exercising any right or remedy
<br />shall not ilea waiver of or preclude the exercise of any right or remedy
<br />It. Successors and Assign Bound; Joint and Several liability; C'o•slgners. The covenants and agreements of
<br />this Security Instrument shall hind and benefit the succc %%ior%and a%sign%of Lender and liorrower, subject Ili the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall he joint anu w%eral Any Ilorrower w ho c, -signs this Secunty
<br />Instrument but does not execute the Note- (a) is co- signing this Security Instrument only to mortgage, grant and convey
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<br />that Borrower's interest in the Property under the terms of tit% Sts urn) Imtntment. (h) r% not per%utially obligated to pay
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<br />the sums secured by this Secunty Instrument; and (c) agrees that I ender and any other Ilorrower may agree to extend.
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<br />modify, forbear or make any accommodations with regard it) the terms of this Secunty Insirunnent or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If tht loan secured by this Security Instrument i% subject tit A law which sets maximun hen
<br />charges, and that paw is finally interpreted %ti that the Interest ar other loan chargelit collected or to he collected in
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<br />j connection with the loan exceed the permitted limits, then- (a) any %uch loan charge shall he reduced by the amount
<br />necessary to reduce the charge to the permitted limit: and (h) any sum+ already collected from Borrower w inch exceeded
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<br />permitted limits will he refunded to Borrower. Lender may chtio%c to make flits refund M reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If it refund reduces principal, fie rtduciton will he i reated a%a
<br />partial prepayment without any prepayment charge under the Nate.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws ha% the effect of
<br />rendering any provision of the Note or this Securityln%lrumeni unenftirceableaccor ding fit rt %term., I ender. at Itsopnr.n,
<br />may require immediate payment ui full of-all Turns secured by this Secunty Instrument and may rm%oke any remedies
<br />permitted by paragraph 19. If Lendet titercise% this option. Lender %hall take the steps stwedird in the second paragraph cif
<br />paragraph 17.
<br />+ 14. Notices. .1►ny notice to Wirrower provided for in this Securrq hmrunient %hall he given by dcli%cnng it or by
<br />mailing it by first class mad unless applicable law requires use rrf another method I he notice .hull tx dire. tied it, the
<br />Property Address or any other address Borrower designates by tioti.c to lender An► nonce to Lender shall he gt%en by
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<br />first class marl to Lender's address staled herein or an) tither adtiroo I ceder designates hy- notice to Mortimer Any notice
<br />provided for in this Security Instrument %hall he deemed to ha%e been given to Harrower or I ender when grvt:n,t% provided
<br />i in this paragraph.
<br />IS. Governing Law; Severabilit). l his Security Instrument %hull ter gmerned h% fitleral loo and the lau, of the
<br />1 jurisdiction to which the Property is, located In the went that any provision rat .pause of tilt-, Security In%trurnew .rr the
<br />Note conflicts with applicable law, such conflict shat) not affect tither pros imams, tit lilts Seeurity Instrument or the ~tide
<br />which can he grsen effect without the conflicting provision 1 o Ile% end the pros imovit. 01' this, `iecuray In %trunieort and the
<br />Note are declared to be severable.
<br />16. Borrower'sCopy. Borrower %hall he go en tine conf(irturd :tors r( the %tile and of this Security to %U•uarnnl.
<br />17. Traatder of the Property or a Beneficial Interest in Borrower. If all or .tit% pmt of the I'roperly tit' tiny
<br />interest in it is mild or tran%ferred for if a beneficial interest in thnniucr n% stilt! or tran%ferred and llorrow cr is n- it it natur :d
<br />person) without Lender'% pnor written consent. Lender may, at its option, require nnntediate pc»ntent tit full of all %ems
<br />secured b) this Security Instrument. However. this option %hall not he etierci%ed by I ender it everci%e is prohrhitc -d h)
<br />federal law as of the date of this Secunty Instrument
<br />if Lender exercise% the% option, Lender %halt gi%e Borrower nonce of a::cicr,ttton 1 he it, it %hall lift 1%de a pent oil
<br />of not less than 10 day % from the date the notice is deli Bred rip mailed w nthin w hich Hort,+u er must pa% all .urns %c•c ur ed by
<br />this Secunty Instrument If Harrower fails to pay t he%e win% pnor ter the evpiratrtat o1 the% [writ d. 1 ender may it%like any
<br />remedies permitted by flits Security Instrument without further noticcor dernand on Dom mci
<br />18. Borrower's Riot to Reinstate. If Kit rawer meets cerfain condition%, litmrowcr shall hale the right at have
<br />enforcement of flit% Smunty Instrument diw•ounnued at an) tree prior to the tarsier of la t s doss for %tic It other Fill id is
<br />applicable lava niay %pevih for reandatentent) liefOre sale of the frtrperl% purmiant to any 14•ucr of %ale .omtained in tilt%
<br />Stunt) Instrument. fir ib) entry of a Iudgnicut enforimig flit% Sr.•unty Instrument 1 hr + %..tnitfihtnrs ,are that Ht+tn+%ier
<br />(a) p,ry% I Crider Al %um% which then would tk due under flit% Se.unts In %tiument and ill%• Note li.id n.• i, %t,lct Ation
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<br />m:vurred, (h) cure% Any dirlault of any other %oienant% or s$recinciak it i pas% .ill r%It.n%t••, rtI,.urted Ili e11t,+n ni); 1111%
<br />Secunty Instrument, tii; luting, but not limited It'. tea%onahle .►ttorney % fee% and lift f,t ►e% %,,, h .a ti, n ,,% I rntlr r nr,, %
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<br />rtastnuhf) require to .t%%ure Thal the fern of flit% Secants lnstruitunt. 1 alder'% r,JZht% in tilt I'+oI%t•rf% .111,1 11,1VOwrr %
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<br />ObIlitrtiort to pay the %utn% W%:urcd h) fht% 4•.unty In%trunicat %hall %oritit,ur ,si,hangctl 1 i• •u rear %t.tlt flit ill 1.%
<br />Ilorrower, flu% titcurrty Instrument and ftic obligatrom% wi-tard harth% %h.tll rt•ni.urr tut[% t tTtth %c .t %,r 1,.• ., , , I. r.it,• it I,•..t
<br />t %:Lurrctl ilowevcr. the%nght tit iein%Iate%hilln.tt apitli ill tilt ..% %t .+t.1,,%lit.ur., , ur+.let r•.tra &Z r.1 l•1,.: 1 •1 1'
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