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89`w -. 104107
<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 tirna as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applirablir law.
<br />S. Inspection. Lender or its agent may make reasonable entries upon and inspectionsi till the Property. Lettdcr
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause fur the inspection.
<br />9. Condannation. 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 />i 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 afters 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; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />I 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 ar 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 successors in interest. Any forbearance by-Lender in exercising any right or remedy
<br />shall not bear *azver of or preclude the exercise of any right. or remedy.
<br />III Sblteemors and Assigns Bottttd; Joitrt and Several Liability; Cc- signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit thestii; s rs and assigns of Lender and Borrower, subject to the provisions
<br />ofparagtrtiiph 1-7. Borrower's covenants and agrements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument btit does not execute the Note. (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrowers interest in the Propeiti render the terms of this Securify 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 widiregard 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 exceed 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; 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 the principal owed
<br />' under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender'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 Iaayment in full of all shots secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph I!, If Lender exercises this option, Leader shall take the steps specified in the second 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 lave, 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 hereiri or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument sh.aU be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. ThisSecurity Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the. Property is located. In tiil,:event that any prevision or clause of this Security Instrument or the
<br />Note conflicts with applicable taw, such conflict shall not affect other pravisions 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 dee'rared 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 Beneffdal Interest in Borrower. If all or any pan 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 Lenders 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 />19. 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 day s (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 (b) entry of a judgment enforcing this Security Instrument. Thow conditions are that Borrower
<br />(a) pays Lender all sums which then would be dui under this Security instruntent and the Note had no acceleration
<br />occurred. (b) cures any default of any other covenant% or agreements. (c► pays all cxpcnses incurred In crifmcing this
<br />Security Instrument. including. but not limited to, reasonable attorneys' fees. and (ill takes such action as Lender ntav
<br />reasonably require to assure that the hen of At, Security Instrument. i.ender', tight, n1 the I'rolTcri%• and li(irrr:uc,'s
<br />ohligittimi it, rd` the Sums wcured hs this Secnrily 1wtrument sltall contit tit' till, hal)),cd I I .,•11 tr1110.U1 Int.111 tut
<br />htirnr,s,:r. iliv.le ,. urits Iwartinivni and ihr• I+hlilmIitiw. %ccfired herd %hall re111.1IT, Muir odic. I..; .I, II I I, , . Ice IIf, •I1 h.ul
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