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<br />89--m 10402ti
<br />If ="q uired tttortgage insurance as a condition of making the loan secured by thls Security Instrument.
<br />Borrower y the prattiutaa squired to maintain the insurance in et{ect until such time as the requirement for the
<br />insurance terminate& in accordance with Borrower's and lender's written agreement or applicable law.
<br />A. Importiott, 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 specifj ing reasonable cause for the inspection.
<br />9. Cbed s astim. 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 />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 spans 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, Leader is authorized 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 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 in paragraphs 1 and 2 or change the amount of such payments.
<br />10. Berrower Not Releaae$ Forbearance By Lender Not a Waiter. 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 the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's succ essors.in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors &tad Assigns Btu Joint o d Several Liability; Co- signers. The covenants and agreements of
<br />this Security Instrument sh*U bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrowe!e°s covenants and agreements shall be joint and several. Any Borrower who. ce -signs this Security
<br />Instrument but does not execute the Note: (a) is Colugrams this Security Instrument only to mortgagr;.grant and convey
<br />tnair Bonuwees interest in the Property under the tetras of this Security instrument; (s) 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,
<br />modify, forbear or make any accommodations with regard to the terms of this Security; Innstrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument issublect to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan. cb=ges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan. chazge shall be reduced by the amount
<br />necessary to-Vol ee 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 tke principal owed
<br />ttoder the Note or by npatii`ing a direct payment to Borrower. If a refund reduices principal, the reduction vttill be treated as a
<br />partial ptepayr>3ent without any prepayment charge cinder the Note.
<br />U. twtslatdon Affecting; Ltt atler's Rights. If enactment or expiration of"•applicable laws has the'effect of
<br />rendering any provision gf.the Note or this Security b rat. uument: unenforceable accordiitg,to its terms, Lender, at its option,
<br />inlay require immediate payment in full of all snares. secured by this Security instrument and may. in- Y,6ke: Oity remedies
<br />prrmittod by paragraph 19.' If Lender exercises thiscsptuon, Lender shall take thestcpsspocified in the secoitd paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower 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 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 Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to hayo been given to Borrower or. Lender when -given as provided
<br />in "paragraph.
<br />15. Goveraft Law; Seterabr'iity:', Jhis Security Instrument shall be govermedby federallaw and the law of the
<br />jurisdiction in which the Property is located. In she 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. Trander 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 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
<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 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. 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 any time prior to the earlier of (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before We of the Property pursuant to any power of sale contained in this
<br />Security Instrument, or (b) entry of a judgment enforcing this Security Instrument. 'those condition~ are that Borrower.
<br />(a) pays Linder all sums which then would be due under this Security Instrument and the Note had net acceleration
<br />occurred, (h) cures any default of any ether covenants or agreements, (c) pays at! expense~ incurred to enl.ircrng this
<br />Smurity instrument, including, but not limited to, reasonable attorneys' fees. and (d) lakes such acorn as l cider may
<br />reaumihly require tv assure that the lien of this Sccunty instrument, Lender's rights to the 11rolicrt) and Hoer oucr's
<br />ubhg.rtrnn to pay the %urns wCured by this Seturrt) Instrument shall continue unchanged Upon rrrn,t•ttcinrnt by
<br />Dorruuer. that ti. array imtrutnent and the r,httgatums .eluted hereby sh;.tll remain fully ctfectrne a% if rio ak Lcicrau•nr had
<br />m4mrrcd flt.ueccr, this right to reinstate shall nut apply in the Lace t•f uLLeler.itnm under V.uahr.,rhs ! t w t
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