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<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 />8. Iaapmetion. 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 t he inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages. director 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 />ass*ned 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 atmount 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 b� Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond' uo LeodeT within 30 days after the date the notice is
<br />given, Lender is authorized toi,;4'ect and apply the proceeds, at its optiow, either restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lent -�r and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due adaie of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender 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 />Undia SWIl twin be iequired 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 theoriginal EkwTower or Borrower's successors in interest. Any foTtkarance by Lender in exercising any right or remed 1.
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the 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 Securi t y
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and con% -C)*
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally oblrgaued to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree it, extend.
<br />modify, forbear or make any accommodations with regac a to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. 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 loan charges collected or to be collected in
<br />connection with the loan exc -uvd 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. aurd (b) any sums already %P lccted from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender ►nay choose to make this refund b) reducing the principal owed
<br />under the Note or 'by making a direct payment to Big: rower. if a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge ura.',ler the Note.
<br />13. • Legislation Affecting Leader'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 its terms, lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument atfi :: may invoke any remrdi.es
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps spe itk-4 in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any novice to Borrower provided for in this Security Instrument %hall he given by drlicering it or by
<br />mailing -it by first class mail unless applicable law requires use of another method. The notice %hall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first clots mail to Lender's address stated herein or any other address Lender designates by notice to Horrower. Any notice
<br />provided for to t;hts Swurity Instrument shall be deemed to have been given to Borrower or Lender when goen as provided
<br />in this pitragraph.
<br />15. Governing Law; Seveability. This Securir• 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 wntb applicable law, such,-,smoAict shall not affect waxer provisions of this 5eruray Instrument or the Note
<br />which can be gives effect wuhttut the com& -.tang prm;um To this end the provisions of this Security Instrument and the
<br />16. 111011 olwtes 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 an) part of the Propert) or any
<br />interest in it is staid or transferred (or rfa beneficial interest an Borrower as sold or transferred and Borrower as not a natural
<br />person) without Lender's prior written consent. Lender may, at its option, re4utre Immediate payment in full of all bums
<br />secured by this Security Instrument. However. this option shall not he exeaca%ed h) Lender of exerave t% prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower not ace of wceleratton the notice %hall pru%ide a Mi%xl
<br />of not less than 30 days from the date the notice is delivered or mailed within which Horruw cr must pay all sum.. %es ured h)
<br />this Security Instrument. If Borrower fails to pay the-%e sums prior to the expiration of this period. I ender may smoke any
<br />remedies permitted by this Security Instrument without further notice or dcmand on [hitfower
<br />18. Borrower's Right to Reiratate. If Borrower meets certain condition%. Mirn►wer shall have the right to have
<br />enforcement of this Security Instrument discontinued at anytime prior to the carlict of la) s day. tor such other tw•ru1t1 as
<br />applicable law may specify for reinstatement) before vale of the Property pursuant to any power A sole .onI m d tit this
<br />Security Instrument, or (b) entry of a)udgment enforcing this Sevunt) Instrumcnt I hose .ondrtl.al. arc than horrower
<br />(a) pays Lender all sums which then would he due under this tiCturat% (n.tnrmena and 'ht. \,etc twa 110 a.kctrtanor►
<br />occurred. Ib) cures any default of any other covenants tit agreements, 4L) pays all rvlk•r1., n.nrnd u1 enlol,ing 1111%
<br />Smuraly Instrument, Including, tut not limited it,. reasonable auorne)%' fee%. and wi takes moi a, non a% I 1 n.t.r 111.1%
<br />reasonably reyture tit amure that the lien ref this %ecuret) Instrumcnt. Lender's nKhi% 111 the a'n ixiis Mid K- 11 -11Aer %
<br />obligation to pry the sums soured b) lhn% lecunty Instrument .hail o-itnitut u11shankc,l 1 p..a1 rrmsl.o.m.nt 1.%
<br />Bt►rr.ower, this ScLuIII) Instrumcnt aril the rlbhgatiom %e%urnt hereh% shall r, imam tolls rttr, t 1 %. a. 11 11. • .,... ,. f ,11 1� I a
<br />occurred However, thee% right toren%late+hallnotapply mthet,awofauricrauonur11te, (•arrgtaphs 11.-r i
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