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<br />90- 107039
<br />If Lender required mortgage insurance as a condition of making the loan mchr d by this Security Instrument,
<br />Borrower shall 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 of applicable law.
<br />8. Inspailoa, Lender or its agent may matte reasonable entries upon and inspections of the Property. Lender
<br />"[give Borrower notice at the time of or prior to on inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any pan 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 />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 sutras 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 sutras secured immediately
<br />before the taking. divided by (b) the fair market value of the F7oWrty immediatcly before the taking. Any balance shall he
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or ii; after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the swtice 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 i and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Leader Not a Waiver. Extension of the time for payment or
<br />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 or 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 Borroweror Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint sad Several Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who cc -signs this Sectsvity
<br />Instrument but does not execute the Note: (a) is cosigning this Security instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument. 01, 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 ,air make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's c(msent.
<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 />ren(lering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option.
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, !.ender 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 he given by delivering it or by
<br />mailing it by first class mail unless applicable law 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 W given 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 Security Instrument shall be deemed to have been given to Borraiwer or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall he go. erned by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be green effect without the crttflicting provision. To this end the provisions of this Secu•my Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy.. Borrower shall be given one conformed copy of the Note and of obis Security Instrument.
<br />17. Transfer of the Property or a Beneficial interest in Borrower. If d:'. or any part of the Property or any
<br />interest in it issold or transferred (or if a beneficial intews;: in Borrower is sold or transferred and Borrower is not a natural
<br />permton) without Lender's prior written consent. Lender may, at its option. require immediate 1rayment in full of all sums
<br />secured bl. ails Security Instrument. However, this option shall nor be exercised by Lender if exercise is prohibited by
<br />fedderal !raw as of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give [tit.:: rawer notice of acceizraiior, The notice shall previde a period
<br />,.,f not less than 30 days from the date the notice is debvered or mailed within w hw;h &)rrnwer must pay all sums secured by
<br />!hi& C.a•„ri.v InctrnmPni If tinrrower falls to tkav these sarms prior to the expiration w this period. Lender may invoke any
<br />remedies permitted by this Security Instrumeet without further notice or demand on Burrower.
<br />18. Borrower's RWI to Reistate. If Borrower meets cerrain conditions, Idorrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the carker )f: (a) 5 days (or such ,ether peri(id as
<br />applicable law may Specify for reinstatement) before sale of the Property pursuai,r 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 uny default of any other covenants or agreements; (c) pays all expemcw incurred in enforcing this
<br />Security instrument, including, but not limited to, reasonable attorney~ feces: and Id) tales such action as Lender may
<br />reasonably require to assure that the hen 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. Up(in reinstatement by
<br />Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
<br />occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17
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