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<br />If Lender required mortgage insurance as a condition of making the loan secured 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 or applicable law.
<br />a. Inswilon. Lender or its agent may snake reasonable entries upon and inspections of the Property. Lender
<br />shallgi:ve Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9 Cawkwastlois. The proceeds of any award or claim for damages, direct or consequential, in connection witb
<br />any cocsdaoa athoo. or other taking of any part of the Property, or for conveyance in lieu of condemnation, art hereby
<br />askped and srAali 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 sums 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 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 />if the Property b abandoned by Borrower. or if, 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 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 otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />pottlpona the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />lo. Borrower Not Rekuodl Forbearance By Lender 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 Borrower or 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. 5aecesson and Assigns Bottled; Joint and Several Liability; Co-slgners. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Fender and Borrower, subject to the provisions
<br />of paragraph 171. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument taut does not execute the Note: (a) is co- signing this Sa:urity Ittsiruswnt .T•1.1- IM raartpge, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument: (bl is not personally obligated to pay
<br />the sums secured by ibis Security Instrument; and (c) agrees that Lender and any amber Borrower may agree to extend.
<br />modify, forbear or make any accommodations with regard to the terms of ibis Security 1 nsirument or the Note without
<br />that Borrower's consent.
<br />12. Low 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: (al any such loan charge shall he 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 owe4
<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 Leader's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the :Vote 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, Lender 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 be 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 be 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 Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Cgperning Law; Severability. This Security instrument shall he governed 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 begiven effect without the conflicting provision. To this end the provisions of this Security 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 this Security Instrument.
<br />17. Transfer of the Property ore 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 Lender's 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 />-:n.d i,u,6:e Q�kinty Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower %hall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to t he earlier of la) S days (or such other peno d 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 he 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' fen; and (d) takes such action as fender may
<br />reasonably require to mutt that 1ht lien Of this Security Instrument. Lender's nghts 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 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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