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$9- x.1047'75
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shalt 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 />S. Impectiott. 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 Contlennnation. 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,. 6x proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or net -then due, with any excess-paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower ar?.d; Fender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the amount of tine 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 />F If the Property is abandoned by Dor. over, ab.ff, after notice by Lender to Borrower that the conderrrnor r-Ters. to
<br />} . make an award cr-settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />1 : given, Lender is authorized to collect aadi ply the proceeds, at :•c; option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Inswiz -,��t, whWhYr or not theft due.
<br />Unless Lender and BarroRer otrre -lse a rceit writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the morthly Earns refvred to in paragraphs i an.1 Z or change the amount of such payments.
<br />10. Hamewer Not Released; F&Aemwe By Lender Kota. taEs4w. Extension of the time for paymen>Z..or
<br />modification of amortization of the sus secured by this Secc:'i'ty Instrument granted by Lender to any success�n-r in
<br />interest of Borw' wer shall not operate to release the liability of the original Borrower or Borrower's successors in
<br />f✓xdcr shall not be required to commence proceediip against any successor in interest or refuse to extend time :foz ..
<br />paynn ent or otherwise modify amortization of the sums. secured by this Security Instrument by reason of any demand rr -t6p• . '
<br />by the original Borrower or Borrower's suzussors in :asirest. Any i rabearance by Lender En emercising any right or rw pe
<br />shall not be a vt ai%er of or preclude theeats -rise of any right or red 44"— '
<br />11. Swtomora and Asdpts Bou34, Joint Severed Lioil Uty; Co- signers. 71-ye covenants and agremmer,: of
<br />tbisSecurity Instrument shall bind and berefit the soMICssors and assigns of Lmeer and Borrower, subject to the provisions
<br />ofpmagraph 17. Borrower's covenants and agreewcg.ts shall be joint and sevem.1: Any Borrower who cosigns this Security
<br />Insi�,v�.ent but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Jl�tw-row ec s f6r.!erest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the &Lms xir r or , by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />j ir_c?dff„; fbrbvs7 or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />tha1,,,;6;arrowces consent.
<br />It Loss 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 colleawd in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amkwnt
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected f ecm Borrower which exceeded
<br />permitted limits will be rer-w- ded to Borrower. Lendee : ay choose to make this refund by reducing . rbi .principal owed
<br />e.,zdeT the Note or by makinS a direct payment to Bo; rote- If a refund reduces principal, the reduction 4,113 be treated as a
<br />p wnM prepayment without any prepayment charge under the hart-_
<br />I& WaPidura Affecting Lender's Rights. If enacttm-A or expiration of applicable laws has the effect of
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<br />rc 4pring any V rrv;• =, of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />require im mediate payment in full of all sumvn secured by this Security Instrument and may invoke any remedies
<br />T �ted by *t graph 19. If Lender exercises this q !ion, Lender shall take the steps specified in the second paragraph of
<br />, diniraph 17.
<br />14. Notices. Any notice to Barrok-ar provided for in this Security Instrument shat! be given by delivering it or by
<br />mailing it by first class mail unless app6i;,.1 -.,e law requires use of another method. The shall be directed to the
<br />Property Address or any other address Borrower dimst hates by notice to Leader. Any rezice to Lender shall be given by
<br />first class mail to Lenders address stated herein or au- t'rither address Lender dw- a'Jpwtes j %v notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deertod to have!-.en given to Botcrrn er ur Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Ce6vi ty Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the:a:etsht that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such. conflict shat! 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 Lobe 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 *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 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 thisSecurity Instrument without further notice or Demand on Iorrower.
<br />It 8orrower's R1g6t 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 perind as
<br />I 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 conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the dote had no acceleration
<br />dccurred: (h) cures any default of any other covenants or agreements: (c) pay% all expenses incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees: and (df takes Birch action as i.ender may
<br />reasonably require to assure that the lien of this Security instrument. i.cVdct's rights in the Property and W1rro%wF*5
<br />obligation to pay the sums secured by this Security instrument chill continue unchanpud Upon re w imenicnt by
<br />Borrower, this Smurity Instrument and thcoblugations secured hereby .hall ronaun fully effective as if no acceleration had
<br />occurred. However, this, right to reinstate shall not apply iii the case of accOemtifin uiider pirrai:raphs 13 or 17'
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