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7. protectian ot Lender's Ric�hts ir� U�e� �roperty. ir sorrow��r fa�k co pc,�torm tne co�renants and agreements
<br /> contained in this Security Instru�snt, o:!t.ere is a IegaY prc�ceed'ng that may si�ini('�canty attect Lenders riphts ir: the F'ropert!/ (such as
<br /> s ¢roceeding !n bankn,ptcy, p;obate, for condertmatkm ur torfoiture r�r to enfora3 Caws or re�lulettoris), th6n Lender may do e�nd pay tor
<br /> �whgtever is necessary to p.etect the va�uci ot the PinaFrty and Lenc'�s rights in the Proptxty, l�der's actbns map includa peryhp
<br /> any sums securod by a i�en which has prfon2y over thfs Securky Insh�ument, apoearing in wourt, peyhg reasonable 8ttdmay'S teE35,and •
<br /> a�tering on the Property Yo m�ke repaFs. e�hha�ugh Li��may te6ce�.tan under th� paragrapt; 7, Lertder does not lie� •u do so. ,T
<br /> My amounts disbursed by t.es�rier under ihi ;aragraph 7�shaA becomo edd'dtonai debt cf Borrower secured t��hFs SecurRy `
<br /> lnstrument. Untess Borrower and Lender agree .� other terms of �Oeyment, ihese amounts aha6 bear hterest firom t�he dats of
<br /> disbursernent at the Note rate and shab be payabta,wdh hterest, upon notiae kom Lender to Barov�er requesthg paymer�t '
<br /> 8. Mortgage Insurance. ir �end�x requrad mortgege hsurar,�e as a r.ond'Ran of ma�chq the Ioan secured b�, this Securd'y
<br /> Ins�ument, Bonower shall pay tha preme�rn:t requfrecl !o maintnfn the mortpage Inburance in effiact. If, tor any reason, 1hs mortflepiv
<br /> insuiance coverage requlred by Lender iepses or esas��s to be In effect, Borrower shaq pey the qremlums rsquired to obtnin cuverege
<br /> substantiaily equivatent to the mortgaga insuranae previousy in effect, al e cc�st substanilaAy equlvalsnt to ihe�cost to Bo�rower oi the
<br /> mortgage insurance prevausly in effect, from an akem;ate n�orfgags insi.�rsr apprared by La�der. If substantiaRy equtvfdei.t mortye9e
<br /> insuranca cow�rage is nat availabie, 80R4W3i shail pe:y 4o i_ender each mo��th n sum equat tca one-tweM4h o( the yasrM mortpage
<br /> insur�nce prsmi�m beng paid by Bortower when the insurance covernge Ve�psod or ceased to be e� effect. �endsr wiA acCept, use and
<br />' retein ti�esa payments es a foss reserve in �.�� of mortgage insurar�ce. Loss re:�erve payments mey no lnnger ba reqr�Ye�d, ai the
<br /> ��ptbn oS Lender, N mortgage insurance coverage (fn lhe amount and tor the porbd that Lend3r requi�es) provided by a�i insurer �
<br /> 6oprovr�d by Len�r aga� �ecomo�s availgbl� and is obtefnad: E�ortower shatl pay the promN�ms requirad to maintaYi mortgaQe
<br /> in;urenc� in ettect, or to provide a loss ressh�e, until ihe requirem�ant tor mortgaba insurance 9r�ds h aCCOrdanC6 w�h ttny written ��
<br /> egar,tvne�t`.�etween Borrower and Lertder or.appi;cable faw. �
<br /> 9. In��e�tion. Lender or its agent may make reasoneble en4�fes upon snit fnspectbns nf the Property. Lender shatl ghre �
<br /> �3crrawer neta.e st the time of cr prior to an inspt,cCan specirying reasonable cause +a tho hspecti�n. �
<br /> 10. Candemnation. The proceeds ot i�ny a�N�ird or claim fior damages, ciirect or consaquent"ai, in connection N�ith ��ny �
<br /> conder��nation cr other taking of any part of the Pr,operty, or tor cortveyanca in i'�u of condemnstbn, are �ereby assigned and shall b9 �
<br /> paid to l.ender. �
<br /> In the svent of a totai taking o! the Propert„ the p�•oceeds shall be applied to ihe sums sec�.ired by th�: Securky instrumont,
<br /> whether or noi thon due, wRh any excess paid !o Elorcow��r. In the event of a Rsrtiai t,�king af the I'ropoity in whiCh tho fair m8tkc�t
<br /> value of the Property irr;inediately be�are the +.e,king is equal to or groater man the emount of the sums secured by thfs Sec�rky
<br /> instrument immediatey beiore the taki�g, �nk�ss Bort��wer and Lender o�herwhe a�tree fn writing, the sums secured by this SeCUrity
<br /> lnstrument shaH be reduced by the amount of the arocaeds muniplisd by the toilowing hactan: (a) the totai amount of the sums
<br /> secvred imrrsediatety before tha taking, divided by (b) U1e fa'r maricet value of the Prop.srty immediatey l�efore the teking. My bai�nce
<br /> sheA be paid to Borcower. In fhe event ot a partiel tahfng ��f tha Propec:� fn which the fal• meticet vakie of tt�e Property immedietefy
<br /> before the taking is less thart the amount of the sums secured Immediately before tha tFilcF�,�, unless Bcrrower and Lender otherwise
<br /> egree in writing or unf�ss applicabie taw other�vise provic'�s, the proces�+s shaA b8 appiieti to the sur�ts secured by this Security
<br /> lnsWment whether or not the sums are then due�.
<br /> Ii the f'raperty is abandoned by Borrower, or �, aRer notic3 by Lend�sr to Bortower that the�.ondem�or �Hers to make an award ar
<br /> sattle a claim ior damages, Borrower fails to respond to Lsnde�' wRhin 30 days after !he date the not!ce is �iven, Lender is authnrized
<br /> to coldect and appiy the procea�s, at its option, eRher to restoratun er repak of the Praperty or to the sums secured by this Securky
<br /> InsirumPnt, whether or not ihen due. k
<br /> Unless Lender and Bcrtower otherwise agree in writin��, any applicatbn of proce�ids to prfncipal shr:il not e�xtend or pos!Qone the
<br /> due date of the monthy payments reterred to in paragraphs : and 2 or change the emount of such payments.
<br /> 11. Baerawer Not Released: Forbearance By l.e��der Not a 1f�aiver. Extensbn or tno ;me for payment or
<br /> moditicati�n af amoRizatiun ol ths sums sacured by th1� SecurRy Insdrument grantod by Lender to any successor h interest of Bortower
<br /> shall not operate to release the tability of tho original 9crrowor or ,BoROwer's succ�ssors fn fnlerest. Lander shall r.ot be requirod to
<br /> commence proceedings against �ny successor h interest or refuse tu extend time for payment or otherwise mod�y am.�rti�tbn of the
<br />� sums secured by this Security InsWment by reason of any demand mado by the original BoROwer or BoROwer's successors in
<br /> I �terest. Any forbe+�rance by Lande� in exercising any ripht or remedy sha!I not be e waiver ot or preclude the e�c�'Cise ot eny ripht ar ,
<br /> remedy.
<br /> 12. Successors and Assigns Bound; Joint and Several Liability; Co-slgners. 7t,s covenancs and
<br /> apreemants ai this Secs,rity Instrument shatl bind and bertefit the successors and assgns oi Lender end BorrowEr, subject 2o ths
<br />� prcvfsions of paragraph 17. 8orrower's ceven8nts and agreements shall be Jaint and severai. My Borrower who ca-sfgns thk� Securfty
<br />�
<br /> Instrument but does rot execute ths Note: {a) is co-si�n�g thGs Security �nstrumer.t ony to martgage, grant, and convey thst
<br /> Borrower's interest in thQ Property un�er the tenns of this Security Instrument; (b) is not personaily ablgated to pay the Sur�s secured :
<br /> � by tiiis Securky Instrvment; and (c) agrees that Lender and any other Borc�wer may apree to extend, modity, torbear or make any :
<br /> accommodaL�Ons wkh regard to tertn� of th[s Security Instrument or the Note wqhouf that Borrowsr's consent.
<br /> 13. Loan Gharges. ir cne �oar, secured by this Secu�ity Instrument is subject co a �ew wn�cn st�ts maximum ban charpe�, :
<br /> and that law is i'natly hterpret�d so that the interest or other ban charges col6ected or to be cotlected h connect�on wRh the ban -- _
<br /> exceed the permitted limits, then; {a) any such ben charges shail be reduced by ttie amount nacessary to reduce the charge to the ,
<br /> permkted I'mR; and (b) any sums akeady collected from Borrower whfch exceeded pertnitted iimks will be refunded to Borrower. lender
<br /> may cho�se to make this re(und by reducing the principai owed under the Note or by makhg a d'rect payment to Botrower. If e
<br /> refund reduces principal, the reductbn w�1 be treated as a partial prepeyment wkhout any prepayment Charge under the Nota
<br /> 14. t�otices. Any notice to Borrower providad for in thfs Security Insintment shall be ghirin by delivgring k or by mailhg ft by
<br /> t�st class maft unfess appiicable faw requhes use of another methad. The notice shell be directed to the Property Address or eny
<br /> other address Borrower designates by v�otice to Lender. My noC�ce to Lender shall be given by frst cless maii to Lender's address
<br /> stated herein or any other eddress Lender designates by notice to BoROwer. My notice provided (or in thfs Security instrumecit shatl
<br /> be deemed to have been given to Elorrower or Lender whe� given as provided in this paregraph.
<br /> 15. Governing Law; Severability. This Security Inswment shall be govemed by federel law end the law of the
<br /> jurisdicticn h which the °roperty fs bcated. In the event that any provision or cleuse of this Secu►ity Instrument or the Note conflicts
<br /> wkh applicat+te law, such conflict shall not alfect o',ther provfslons of this Security Instrument or the Note whbh can b6 ghren efteCt
<br /> wfthout the confibting prov�lon. To thES end the pro�isbns of this Security Instrument and the Note are decleted to be severable.
<br /> 16. BOf�Owe,r'� COpy. Borrower stEatl be given one conEOrtnad copy of the Note and oi thls Security InsWment.
<br /> 17. Transier of the Property or a Beneflciat Interest in Borrower. u att or any part or the Property or any
<br /> crterest in it is sold or transfesred (or H a 4ensficlal }nterest h Borrower is soid or translened and Borrower Is not a natural person)
<br /> � wkhout Lenders prior written consent, Lender may, at Rs option, require immediato peyment in full oi all sums sec�rsd by this Securky
<br /> Instrument. However, this optb� shaa not ba er.ercised by Lender if exeroise is prohbked by federal lew as ot the date of thls Security
<br /> Instrume�t.
<br /> It le�der exercfses this optan, Lender shall pivs Borrowar notice of acceleratbn. The notice shall provlde a perbd of not Iesa
<br /> than 30 days from the date the notice is delivered or mailed withh wh�h the Borrower must pay all sums secured by thia SeCUrky
<br /> Instrvmant. If Borrower fails fo pey these sums prbr to the expiratbn of this petbd, Lender me/ invoke any remedles permltted by thb
<br /> Securky Instrument wkhout further not�e or demand on Borrowar. Form xse 9/eo
<br /> FtOT9.lM0(t0/97) Pap�9 0!S
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