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90-105900
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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
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<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inquoction. 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. 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 immediately
<br />before the takitlg, 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
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<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 diay%after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to resusra., iota or repair of the Property or
<br />to the sums secured by this Security Instrument. whether or not then due.
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<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 I 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 />Lender shall not be required to commence preveedings against any cuccesior 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 Borrower or Borrower's successors 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.
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<br />11. Successors and Assigns Bound; Joint and Several Liability, Co-signers. The covenants and agreements of
<br />this Security lust rument 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 Security
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<br />Instrument but does not execute the Note: (a) is co- signing 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,
<br />modify. forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />11 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 interne or other loan charges collected or to be collected in
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<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
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<br />necessary to ce;Zuce the charge to the permitted limit. and (b) any sum-, already collected from Borrower which exceeded
<br />ven nitted litaits will be i cFusded to Borrower. ire 4er may choose to make this refund by reducing the principal owed
<br />ter the Note or by making.a direct payment to Mrrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without siny prepayment charge under the Note.
<br />13. Le&Iatiat Adating Loradites Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision cif aUe Note or this Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may require immediate palmoilent in full of all sums secured by this Security Instrument and may invoice any remedies
<br />permitted by paragraph 19. If Lender exercises t his option. Lender shall take the steps specified in the swgw d paragraph of
<br />paragraph 17.
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<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall he given by delnerin& u .x by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall he directed to chi!
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be givett by
<br />first class nail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any n(,xi.;vc
<br />provided foe in this Security Instrument shall be deemed to have been given to Bnrro%er or Lender when given as proaided
<br />in this paragraph .
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<br />I& Gorenting Law•, Sererablity. This Security Instrument shall he governed b) federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provvwm or clause of this Security Instrument or the
<br />Note conflicts with applicable law. such conflict shall not affect other prowwiris of rhos Security Imtrament or the Note
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<br />which can be given effect without the conflicting provision. To this end the prt►vrswns +>f rhi,; Security Invrumeni and the
<br />Note are declared to be severable.
<br />116. Borrower's Copy. Borrower shall be given one aonftlrmed cop) of the Note and of this Secunty Insrrumetit
<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 Burrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent. Lender ma), at its Option. reyture immediate payment in full of all sums
<br />secured by this Security Instrument. However. this option shall not be exercised by Lender If cscrcire is prohibited by
<br />federal law as oft he date ofthis Security Instrument.
<br />If Lender exercises this option, Lender shall give Burrower notice of acceleration. 'I he notice -.hall provide a period
<br />of not less than 30 days from the date the notice I% delivered or marled w ithin which Borrower muse pay all sum% secured h%
<br />this se Security inst rument. If Borrower fails to pay the sum% prior to the espiranan of this Period. I ender may smoke any
<br />remedies permitted by this Security Instrument without further notice ur demand on Nitr(mer
<br />1Y. Baro.rer's Rift to Reiti>atate. If Borrower meet• certain condition, Borrower .hall have the right to have
<br />enforcement of thiv Security Instrument discontinued at any time prior to the earlier -1f. (a) "t day. (or such oihet period as
<br />applicable law may specify for reinstatement) Before sale of the Property pursuant nt an l+.tvvcr .11 sale cUiltaincd in Ills.
<br />5ecuriiy Instrument;
<br />or Ib) entry of a yudgmem rnforcnlg this �a•.urrt� hi.trunu•nt 1 b,,K �. +ndiwm. air that Il.�rr••wri
<br />(a) pays Lender all sums which then would he due wider thr- mount) Instrument and tht. N- oic had n.• .1..;loatit'll
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<br />occurred; (b) cure+ am default of any other vt►venants or agnenit•nts, tcl Pay. all est1.•mc• nl.urrrd ul rntol% flit- till.
<br />Security Instrunent. including. but not limited Ill. reasonable:ittorne)s trr...tnd ith rakes .u.11 a --n,u1 .1. 1 t•ndrt n1.1v
<br />reasonably require to assure that the hen of this Smunt) Instrument, 1 ender'% right. n1 ihr i'r.,lwlfr and ttoll."Act .
<br />obligantin 141 Pay the sums secured by this %securer) III1lrume01 .11411 Wiltinu(' uf+, 11,111g "i t t,-u flit III hs
<br />11mirlmer. thi.tietiutit) Instrument and tie• ohllgrnons %~tired leetrh..h411 rem till tuns t-ticorsa• .1. it nn a., rlrrah•v1 h.1.1
<br />mcurred Hov► ever, this right to reinuate %hall twit -ipPl) m the..... •.t .1... t, ran. ++ un,t. r par.,►•taph% l t ..r 1 "
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