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104042
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument.
<br />Borrower shall pay the premiums rrttquired 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 />S. twWwlen. Lender ar 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. Condeawtilon. 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 sutras 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 fur 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 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. Borrower Not Released; Fwbertrance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sutras 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 />payttlent:os otherwise modifjr amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by theae4�wtl Borrower or.Dar row-er's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall nott is a waiver o€gi'pftr:IWe the exercise of any right or remedy.
<br />Ill, Succesascs so Assigns Bound, Joint aW Several Liability; Co- signer. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigps ofLender and Borrower, subject to the provisions
<br />of paragrs&.17. Borrower's covermts and agreements shall be jointaadseveral. Any IIerrower who co- signs.tltis Security
<br />Instruarreet5 but does not execute the Note: (a) is co- signing this Security • Instrumeni:.OuN to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) ifs not personally obligated to pay
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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 Bother's consent.
<br />IZ: imss Charges. If the Than secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges.,=d that law is ansuy imerpreted so that the interest or other loan chargta collected or to be eollected in
<br />connecti& -. *ith the lean. waeed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessari..t+o reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted.' Ebmits will be refunded to Borrower. Lender may-.choose to make this refund by reducing the principal owed
<br />under the;Note or by making a divert payment to Borrower. 11a refund reduces principal, the reduction will be treated as a
<br />partial prep*yment without any prepayment charge under the Note.
<br />13. LegWistioa Affecting Lender's Rlyitla. If enactment or expiration of applicable: laws has the effect of
<br />rendering any provision of the Note or this Seat dq- Instrument unenforceable according to its terms, Lender, at its option,
<br />may requirrr Immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitGedb$.paragraph 19. If Lender exercises IMs option, Leader shall take the steps specified in the second paragraph of
<br />,paragraplil7.
<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 Lenders 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 have been given'to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. CoveraiagJAyr, Sererability. This Security Instrument sltQl be governed by federal- taw and the law of the
<br />jurisdiction in which stale 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 a(l`iect other provisions of this Security Instrumentor. the Note
<br />which cast be given effixt without the conflicting provision. To this end the provisions of this Security Imtrutrtent and the
<br />Note are declared to be:severable.
<br />16. Borrowea•'sCopy. 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 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 Al sums secured by
<br />this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period. L ender may invoke arty
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reintate. 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) S days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (h) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays lender all sums which then would be due under this Security instrument and the 'Vote had no acceleration
<br />occurred: (b) cures any default of any other covenants or agreements: (c) pays all expenses incurred to enforcing this
<br />Security instrument, including, but not limited to, reasonable attorneys* fees and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security instrument. Lender's right% to the Property and horrriwer's
<br />obligation to pay the sums secured by this Security ln,,trument shall continue unchanged Vpon reirimaicnient by
<br />iirirrower• this Se( utrtq 1:1orunieti tart d theohligatrons secured herehti shall rernarn fuliv it fit +ac.:t•lvratstill had
<br />seecurred Hriwnar. this tight torcinctateshallnit a ppl) m therairofac:c!;r . im:n urrlcr;•,er,i} rarhs 1%'-F I'
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