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89-1 105196
<br />+ ' if Laufer requited trtart m inow ame as a wriditiera of ntalartg the taut secured by thin Saar ty iriatti meat,
<br />- -- Borrower shall pay the premiums required to tmaintain the insurance in effect until such time as thr, mquitt incer, tot the
<br />i tuwrance termtaa�a to acoocdarice wnih ore sw�e�s and Len3er's w�titreA agneeeKt►t rrr a prilcabbit4w. - - - -- — --
<br />` IL Inspeetim Lender• or its t may main rcesooable entries u and is onus cl the Larder
<br />� y pro >�d Ft'ed>ettil!,:
<br />:call give Borrower notice at the time ofor prim toaninspectionspxifyingressonablecausefortheias a,
<br />9. Co.ieti Kk& The proceeds ofany award or claim for damages, duvet or consequential in connection with
<br />any condeirtnadon or other taking of any part of the Property, or for conveyance in lieu ofcoademnatunn„ seta 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 eiis Security
<br />Itimument, whether or not then due, with any excess paid to Borrower- In: the event of partial taking of the Irrttperty,
<br />unless Borrower and Lender otherwise agree in writing. the sums secured by this Security I:ist umenr. shall. bo teduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secumd- immediately
<br />before the taking. divided by (b) the fair market value of the Property immediately before the taking. Any baltince shall be
<br />? paid to Bormwe:r.
<br />If tb ; hvjp erty is abandoned b5, . f)orrower, or if. after notice by Lender to Borrower t?tat tSte condemnor offers to
<br />make an adra} i c settle m dui m foit iiges, Borrower fails to respond to Lender within 30 day,, of er tha date the notice is
<br />given. Len `4 iithi*f Wlta sleet* appf **..greeds, at its option, cidlt x to restoration cr n:pair ofthe Property or
<br />to the stittttt lured by this Security �T6stnunent;'�l er or w then due. , •' ;
<br />[Jr Lender and Borrowrs'otherwise ag"Z`sn wridix .airy applicaiisan of pr<wxe& to pr Aripitl ±shall not extend or
<br />postpone." . due date of the monthly payments ; ed to iii'paragraphs I aind 2 or change this am!aupL'cf such payments.
<br />`A." Borrower Not Released; O&AiewsiseftiAy Leader Not a Waiver. Extenssen• of tlic .t the for' payment or
<br />s!iiv;Muat�+n of amortization of the sums secLtak:',by this Security Instrument granted. by Lender to any_tuccessor in
<br />s' i�rpst * 'orrower shall not operate to release Vie liability of the original Borrower or Borrower's successors in fiaterest.
<br />Y:t4 wi` steal not be required to commence proceedings against any successor in intart st; of r,•:fase to extend tune for
<br />p ' ymeitt or otherwise modify amortization of thesutns secured by this Security Instrument bii i ►resott•of any demand mad e
<br />fry theoriginal Borrower or Borrower's successomixi interest. Any forbearance by Lender in ezarcicirrg any right or remedy
<br />shall not be a waiver of er preclude the exercise ofany right or remedy.
<br />11. , Sommors and Asd ps Bwn* Joist and Several Liability; Co- signers. The covenants and agreements of
<br />this Secucittyl astrument shall bind and benefit thesuceesson p2d assigns of Lender andlkw -ower, subject to thrpa.'5visions
<br />of parses 17. Borrower's covenants and agreements sha.trat: pffit and several. Any $3rrrawer who co -signs this 5rcurity
<br />instrument but does not execute the Note: (a) is,63- •signing this Security Instrument cvit in mortgsgr., grant and convey
<br />that Borrower's interest in the Property under tfxt t= hs of this Security Instrument: (b1 is not personally obligated to pay
<br />the suns cured by this Security Instrument; Zvi . c) agrees that Lender and any otba $orrower may agree to extend
<br />modify, 6 0* car or make any accomwaitatioa$•..,;tth regard to the terms of this Securi :.q instrument or the Note without
<br />that Bomw+ei's consent.
<br />12. Loan Charges. If the 1&rt securv$4 this Security Instrumerst•is subject to a law whid*wts maximum loan
<br />charges, and that law is finally interpreted vo ttiat the interest or othck li= charges collected rear to be collected in
<br />connection with the loan exceed the. r mitted limits, then: (a) any stufT (Klan 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; e- mended
<br />permitted emits will be refunded to Borrower. Lender may choose to make this refund by reducing the phr,+::ipoal owed
<br />under the N. ate or by making a direct payment to Borrower. If a refund red's ces principal, the reduction will bet eated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />lg, Legislation Affecting Leader's Riots. If enactment or expiration of applicable lays has -the effect of
<br />renderipg: way provision of the Note i : +r this Security instrurrx n � ynenforceable accord):): tci its terms, Levu . ,;:' iii option,
<br />may require immediate payment icr tiull, of all sums securer I ly this Security instrumust and may invo ace; , mrnedies
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in P.hc pragraph of
<br />paragraph 17.
<br />1d.. Notices. Any notice to Borrower provided for in chi. Security Instrument shall be given by deli string it or by
<br />mailing it: Is); first class mail unless applicable law requires use of another method. The notice shall be dire zed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall nMgiven by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Swirith Instrument shall be deemed to have been gii on, ro Borrower or Lender vs hen given as provided
<br />in this paragraph.
<br />15. Governing Law,, Swwf Aility. This Security Instrument sha;? be govemai by federal l ►+ and the law of the
<br />jurisdiction in which the Property ix located. In the event th�kt any provision or ctawxe of this Sresr ty Instrument or the
<br />Note conflicts with applicable taw„ such conflict shall not WFA%t- r.;t3er 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 Swu: 4N. Instrument and the
<br />Note are declared to be severable.
<br />16. llterrowees Copy. Borrower shall be given one conformed w•py of the Note and of this Security Instrument.
<br />17, Trsnsfer of the Property or a Beaefleitl Ietetwit In Borrower. If all ter any part of the Property or any
<br />interestirt :,il: is sold or transferred (or if a beneficial interest vas: Ikarower is sold or transferred.and Borrower is not a natural
<br />person).iviiUout Lcndcr :s pr ior written consent, Lender m;�-, at its opt:o ;.require immediate paymen in full of all sums
<br />secured by this Security I'astrument. However, this option; shall not fie. enra cised by Lender if exercise is prohibited by
<br />.: /' eeeral law as of the date of this Security Instrument.
<br />• ?Mfender exercises this option, Lender shall give Botrcawer notice of acceleraram; The notice shall provide a pentsil
<br />of nct' ir.: ' .'tan 30 days from the date the notice is delivered or matted within which irc,r.ower must pay all sums secured by
<br />thts fat 11y Instrument. if Borrower fails to pay these sums prior to thc&piration of this period. Lender may invoke any
<br />iemediei permitted by this Security Instrument without further notice or dmttand on Borrower.
<br />111. Borrower's Right to Reiostele. if Borrower meets certain conditions. Borrower shall have the right to have
<br />enforceMent of thisSecurity Instrument dixcontinucd at any time prior to the earlier of. (a) 5 days for such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of %ale contatried in i i.
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Insirwnent. "Those fund eons are that [kit rower
<br />(a) psys Lender all sums which then would be due under this Security Instrument and the 'dote had nit acceleration
<br />occurred; (A) cures any default of any other covenants or agreements; (c) pays all etpenws mcurrcd in cnf Otcnig this
<br />Security instrument, including, but not limited to, reasonably attorucys fees, and (d) take~ 1,uch action a% I ender may
<br />reasonably require to assure that the lien of this Security. Instrument. Leader''. right,. m the Property and (iorrti,.e►•s
<br />obligation to pay the cats secured by this Security lnstrument shall continur muhanged. L ptm rcui,,t,ncntenr by
<br />Borrower. thisSecurrty icstrurrient and the obbgations secured hereby shall retnatn fully ctt'ecin.r ,As if _m) at celct atn,n.had
<br />occurred ito% cter. thvi right to reinstate shall not apply in the case ofacceleratn ,ttui Act pit egvsplhti tI(ir I-
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