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gg� 103947
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<br />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 />8. Imp"on. 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. Condeanatfoa. The proceeds of any award or claim for damages, direct or consequenW, 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 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 clainfor damages, Borrower fails to respond to Lender. within 30 days after the date the notice is
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<br />given, Lender is atathorized 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 them 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 in paragraphs 1 and 2 or change the amount of such payments.
<br />..' . " "10. Borrower Not Releaed; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />PuAiiication of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
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<br />i6terltst of Borrmwer shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lemtdrs :shah tfr " 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 reuon. ofany demand made
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<br />by thtorigiria) 6)rrower or Borrower's successors in interest. Any forbearahic rby Lender in exercisinpvs y right or remedy
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<br />shall not be w*Nvr of or preclude the exercise of any right or remedy.
<br />11. StAttaeam and Assigns Bound; Joint and Several Llsbiiity; Co-signers. The.t a�venaii .. ents of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Bortn- wer, st3 ectto t e provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -9igns this Security
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<br />Instrument but dom not execute the Note: (a) is co- sianinft 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 this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
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<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrowers consent.
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<br />12. Loan Ckirges,, If the loan secured by this Security lustrumen is: sgbject to a law which sets maximum loan
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<br />charges, and that law. is ter„Lily interpreted so that the interest or other loan charges collected at to be collected in
<br />connection with the loan ex+ cc+d the permitted limits, then: (a). tray such loan charge shall be reduced by the amount
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<br />necessary to ftadi the charge to the permitted limit; and (b) any sums alrWy..00llected fxgn. Borrower which exceeded
<br />paz*ted firSiits'will be refunded to Borrower. Lender may choose to makr.this refund by redu' ft the principal owed
<br />Onow the Note or by making a direct payment to Boetbwer. If a refund redo* principal, the reductidn• will be treated as a
<br />partial prepayment without any prepayment charge hider the Note.
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<br />13. Leglslatlon ARecting Lender's Ruts. If enactment or expiration of applicable laws has the effect of
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<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
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<br />may require immediate payment in full of all sums, secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the,second paragraph of
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<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
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<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
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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 Borrmwer. Any notice
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<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. Coveraing Law; Sevembility. This Security Instrument shall be 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 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 Benefleial 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
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<br />federal law as of the date of this Sec=urity 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 30 days from the date the notice is delivered or mailed 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 invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrowtes Right to Reittttste. If Borrower meets certain condition., Ilorrower shall have the right to hauc
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of ta) 5 day. (or such other period as
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<br />applicable law may srrcify for reinstatement) before sale of the Property pursuant to any power of s.tle contained tit this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrument Those :ondttr(nts arc that ttorr-mer
<br />(a) pays Lender all sums which then would he due under this Security Instrument and the Note had no accclerttt.n
<br />occurred. (h) cures any default of any other coeenant% or agrcetttcnts (r) pays all expenses tnLulred tit cu6,r,tnc this
<br />Security instrument, Including. but not limited to, reas(nahie attorncys' fe(w, and (d) takes such aLnt'tt as 1 cnticr nl,t>,
<br />rcas(Inahl) require tit a,sure that the lien (,f this S:curtty Itntnlm :•nt. t enilrr', rlrhts tit the Vt,•prtt,..ut,t li..Ir wr s
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<br />(-.hltgani'l, tit list, th'_• sums s..ured by this Scsunt) In.!ruutent �,Ull _iottru un;howc; t f h,.t: ,,,t;,t,tt•,nttnt S
<br />iI{lrr(IX "CF. (hl•. 1�tllit :; hi,trurrlL'Il! drill the.44ig-ittim. si urt!d ltercht. s5.di tcrn.m. full -. :tf :'•.1,•.•.• I. It It.. -,. , i It .1'i• •'t � t:,
<br />(1,.t.utred N+Iut :.( :+. Ihts r1 hi tt t trsnsiatc sh :fil not apply rat the :.t e I .f a_ _t IcT.tt;• III :snot t i-x , t 1;:1 . l , t I-
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