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<br />103936
<br />If Lender required mortgage insurance as a condition of making the loan 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 terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />& Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofor 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 amount of the sums secured immediawly
<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 s.Msod-nicd by Borrower, or if, after notice by Lender to Borrower that the condemnor offlon to
<br />make an award or settle a claern. &r damages, Borrower Ws to respond to lamer inathin 30 days after the date.t(he notiomis
<br />given, Lender is authorized to via kvt and. apply the proceeds. at its op lelµ. - 00,,er to restoration or repair of the Frophly i0i
<br />to the sums secured by this Security Instrument, whether or not them due'.
<br />Unless Lender and Borrower otherwise agree in writing, any 4Wkation of proceeds to principal shalt curt exten -4 or
<br />postpone the due date of the mthly payments referred'to in paragraphs 1 and 2 or change the amount of st rclh,payments.
<br />10. Borrower Not Released; Forbearance By > emler 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 regime 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
<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 ofor preclude the exercise of any right or remedy.
<br />11. Soccessots sad Assigns Both; 46 nt and Several Liability; Co- signers. The covenants and agreements of
<br />this Security instrument shall bind and bime&rhe 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 execute the Note: (a)is co- signigg this Security Instrurirent only to mortgage, grant: and convey
<br />that Borrower's interest in the Property under the iern s--of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Inctri±ti g= and (c) agrees that lender and any other Wrrnwer mow eaaree to emend,
<br />modify, forbear or make any accommodations with regard to the terns of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Lou Chartres. If the loan secured by this. Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other ioan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit: and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principoowed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction wiU. be tr:ated as a
<br />partial prepayment without any prepayment charge under the Note. •
<br />13. Legislation Affecting Leader's Rights. If enactment or expiration of applicable laws his 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 dal ' I sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. if Lender exercise 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 Bortroaea 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 br any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first cuss mxt- ra der 5 address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />grovihFot ir, I r alley Security ) instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in thrs paragraph
<br />15. Govemiag Law; Severability. This Security Instrument shall he governed by federal law 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 Sei:urity Instrument and the
<br />Note are declared to be severable.
<br />116. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Traimler 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 Lenders 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 exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 10 days from the date the notice is delivered or mailed within which Borrower must pay all, ums 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 Wrrow•er
<br />ta. Borrower's Right to Reinstate. if Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security instrument discontinued at anytime prior to the earlier of: fa)!; days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant ir, anv twiner of %air contained in this
<br />Security Instrument, or (b) entry of a judgment enforcing this Security instrument Thew conditions are that Borrower
<br />(a) i+ay% lender all sums which then wonld he due under this Security Instrument and the 'Vote had no acceleration
<br />oLcurred. (b) curry any default of any other co, enants or agreements (c) pay% all etpetiw% incurred in enfrrciri)! this
<br />Security instruniew. including, but not limited to, reasonable attnrnuss' fuel and (d) Tale-•~ L-mh aow!t ,is lender inav
<br />reasonably require to assure that the heel of Ihis SPCOrtl% Inarim -rent tc- nder *♦ right. rn ,he Pn—rerr: 31it}
<br />+fiirgatrfin tit pas the sums secured by ihis 5e,urtt� Instrument shall t brit rc)nst.itrniCnt hs
<br />Nrit, +Het, ihr lwoirita Instrtintent and t fie + +}+hE.+n,lr; swi urcd hi:r•.•h. shiOl roman 1:3111 afl , n�+ .i, it ir•:.., rli r,itn,n had
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