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RERECORDED 8 .�. 106800
<br />90- 106516
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />the insurance in effect until such time as the requirement for the
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<br />Borrower shall pay the premiums required to maintain
<br />er's and Lender's written agreeent or applicable law.
<br />insurance terminates In accordance with Borrow m
<br />8, laspectian. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
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<br />shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection.
<br />The award or claim for damages, direct or consequential, in connection with
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<br />9. Coadentnulon. proceeds of any
<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 Properly, the proceeds shall be applied to the sums secured by this Security
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<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property.
<br />by this Security Instrument shall be reduced by
<br />unless Borrower and Lender otherwise agree in writing, the sums secured
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immcdjatcly
<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 Cnr damages. Borrower fails to respond to Lender withil.T 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 othesvtiiseabree in writing, any application of pria�ds to principal shall not extend or
<br />postpone the due date of the m nthly payments referred to in paragraphs 1 and 2 or , bange the amount of such payments.
<br />10. Borrower Not Released; Forbewance By Lender Not a Waiver. 1~ t trttsion of the time for payment or
<br />untodification of amortization of the sums secured by this Security Instrument grwtwd by Lender to any successor in
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<br />interest of Borrower shall not operate to release the liability of the original Borrower or Sorrower's successors in 3i.V.rest.
<br />Lender shall not be required to commemoe proceedings against any successor in interest or rafiisre to extend time for
<br />payment or or otherwise modify amortization of the sums secured by this Security Instrument by rm. sum ofany demand made
<br />by the original Borrower or Rotrowces successors in interest. Any forbearance by I:endr ,T riot ener.- sing any right err remedy
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<br />shall not be a waiver of or preetwie the exercise of any right or remedy.
<br />11, Saccessmrs mW Asstvs Bound, Joint and Several Liability; Co- signers. '" he covenants and agreements of
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<br />this Security Instrument sbatt bind and benefit the successors and assigns of Lender and Borrower, suktect to the provisions
<br />of paragraph 17. Borrower's,.> a anants and agreements shall be joint and several. Any Borrower who xi-signs this Security
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<br />Instrument but does not excs:ute the Note: (a) is co-signing this Security Instrument <taty to mortgage, grant and convey
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<br />that Borrower's interest in the Rn..*r arty under the terms of this Security Instrument. ;4b4- is not personally obligated to pay
<br />the sums secured by this Secgn.1-y UWTument; and (c) agrees that Lender and any oir er Borrower may agree to extend,
<br />modify, forbear or make any acwirmadati©,ns with regard to the terms of this Security Instrument or the Note without
<br />that Borrowers consent.
<br />12. Loan Charges, If the [oars ss:uwd by this Security instrument is subject to a law which. sets maximum loan
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<br />clr=ges, and that law is finally. i.knerpreted so that the interest or other loan charges collectixi: or to be collected in
<br />connection with the loan exrziai rile permitted limits, then: (a) any such lua;, c. argc- shat: be —L due d by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from, Raccower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by rcauzyag the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund ieiaces principal, the rc iazzion 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. (�C applicable laws has the effect of
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<br />rendering any provision of the Note or this Security Instrwru.nt unenforceable accurdi,kp to its terms. Lender, at its option,
<br />may require immediate payment in full of all sums sa:ure.i by this Security Insit- urnect acrd muly invoke any re- medies
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<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps speeW fir tfze sie c+ond +Oaza.graph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be gi..v by deliveri a it or by
<br />mailing it by first class mail unless applicable law requires use of another method- Lfite notice shall be direcval to the
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<br />Property Address or any otter address Borrower designates by notice to Lender. Ajzg notice to Lender shall be given by
<br />first class mail to Lenders address stated herein or any other address Lender design ns by notice to Borrower. Any notice
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<br />provided for in this Security Instrument shall be deemed to have been. ;-i +.,mar: €a• Bc; r, ower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Lawn &verability. This Securgt) f_fn,ctrumeat shall be get•+ -omed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the eve; t rbat any provision or diwse of this Security Instrument or the
<br />Note conflicts with applicat7re Law, such conflict shall not affect other provisions cf This Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this en.d. the provisions of this Security instrument and the
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<br />Note are decta red to be severable.
<br />16. B;trrrower's Cony. Borrower shall be given one conformei x1py of the Note and of this Security Instrument.
<br />17. Transfer of 6e Property or a Beneficial Tinterest in Bempner. If: a!L or. any part of the Property or any
<br />interest in it is wld or tra ust:ermd (or if a beneficial interest r:ii Borrower is sold qr ixim- 4irred and Borrower is not a natural
<br />person) without. L andes s.piior written consent. Lender inny,, at its �?r ijon req,wr%z unmediate payment in full of all sums
<br />secured by thas. Security Listrument. However, this optibn shall n:,;c nn eriereised' by. Lender if exercise is pra$irtrad by
<br />federal taw as ofthe date of this Security instrument.
<br />If Lender exercises this option, Lender shall give Bornmertt,on.Lv of acceleration. The notice shall pro id r i, period
<br />of not less than 30 days from the date the notice is delicerof or mailed within which Borrower must pay all sums-ii is red by
<br />this Security Instrument. If Borrower fails to pay these surns, prior to the expiration of this penud, Lender may invoke any
<br />remedies permitted by this Secuiyty 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 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. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in 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 rights in the Property and Borrower's
<br />obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by
<br />Borrower. this Security Instrument and the obligations secured hereby shall remain fully elfectn a as if no acceleration had
<br />occurred. lio%ever, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.
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