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<br />Instrument, Hallowell sisal pay the
<br />N Lander nw ilred rrxaigege Insurance as a cendflon of maid" the loan aso meal by the QeouMy .,�...
<br />pranWitns required to rnaintelin the Insurance In ~ untl such Win w the rsYufremwN for the Ineurows temkmt« In eaoerderae wrNln _ - --
<br />Borrower's and Lender's written SWOM nt or epplaabN Mw-
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<br />Y. inspection. Lander « Na spent may make ressonsble entries Wan and Inapeollo ns of life Property. Lender shall give Bexrovre
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<br />nolbe at the time of or prior to an Inspection specilo hg Imam" oause fa the Inspection. ""-
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<br />11. Condsmnddion. The proceeds of env award or delm for damages, died Of oonsewuenllal, In connection with my tun
<br />lion or other taking of any part of the Property, or for conveyance In get of tanderm 0m. are hereby assigned and shell be paid to
<br />Lender.
<br />In the went of a total Mking of the Property, the proceeds shelf be applied to the mums secured by this Security Instrument, whither
<br />or not then due, with any excess paid to Borrower. In the event of a partial taking of the Properly, unless Sommer and Lander otherwise
<br />agree In writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds m uNipled by the folowing
<br />fraction: (a) the total amount d sums secured immediately before the taking, divided by (b) the fait market value of the Property ImmedLtsly
<br />before the taking. Any balance shall be paid to Borrower.
<br />If the Properly Is abandoned by Borrower. or N. after ewtice by Lender to Borrower that the condemnor offers to make an award all
<br />softie a chin for damages, Borrower Isis to respond to Lander within 30 days after the date the notice Is given, Lander M authorized to
<br />coteet and apply the proceeds, at its option, elthar to redomgcn ar repair of the ProperQ► or to the sums secured by lfds SecurMY
<br />Instrument, whether or not than due.
<br />Unless Lender and Borrower otherwise agree In writing. any application of Proceeds W principal shit mot ex ind a postporne the der
<br />date of the monthly payments retorted to in paragraph 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forebearance By Lender Not a Waiver. Extension of the time for payment of modM-
<br />catlon of amortization of the sums secured by this Security Instrument granted by Lander to any successor In interest of Borrower shag
<br />not operate to release the liability of the original Borrinver or Bomme's successors interest. se rnodler shag not tlom orefie sumacommence
<br />proceedings against any successor In Interest or refuse to extend time for payment secured
<br />by this Security Instrumerl by reason of any demand made by the wig" Borrower or Borrower's successors In interest. Any forbearance
<br />by Lender In exercising any right or remedy shall not be a warier of or preclude the exercise of any right or remedy.
<br />11. Sitccassors and Assigns (Bound; Joint and Several Llstillity; Crrsigners. The covenants and agreements of
<br />this Security Instrument shall bind and Lenell the successors and assigns at Lender and Borrower, subject to the provisions of paragraph
<br />17, Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not
<br />axwMe the Note: (e) is co- signing this Security Instrument only to mortgage, grant, and convey that Borrower's Interest In the Property
<br />under the terns of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c)
<br />agrees that Lender and any other Borrower may agree to extend. modify, forbear or make any accommodations with regard to let,, re of
<br />this Security Instrument or the Note without that Borrower's consent.
<br />12. Loan Charges. if the loan secured by this Security Instrument Is subject to a law which sets maximum ban charges, and
<br />that law Is finalfy Interpreted so that the Interest or other Ian charges collected or to be collected in connection with the ban exceed the
<br />permitted limits, then; (a) any such loan charges shell be reduced by the amount necessary to reduce the charge to the permitted firnit:
<br />and (b) any sums already collected from Borrower which exceeded perrnitteed *Ms will be refunded to Borrower. Lender may choose to
<br />make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces prInelpal.
<br />the reduction will be treated as a partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. it enactment or expiation of applicable Mw hat the all of renderIn9 any
<br />provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at Its option, may requite Immediate payment
<br />In fug of all sums secures by this Security Instrument and may Invoke any remedies permitted by paragraph is. if Lander exardsse this
<br />option. Lender shall take the steps specified In the second paragraph of paragraph 17.
<br />14. Notices. Any notice to Borrower provided for In this Security Instrument shell be given by delivering it or by mailing N by fi st
<br />class mail unless applicable low requires use of another method. The notice shelf be directed to the Property Address or any other address
<br />Borrower designates by notice to Lender. Any notice to Lender shag be given by first class mail to Lender's address stated herein or any
<br />other address Lender designates by notice to Borrower. Any notice provided for In this Security Instrument shag be eleetned to have been
<br />given to Borrower or Lander when given as provided in this paragraph.
<br />15. Governing Lew; Severability. This Security Instrument shelf be governed by federal law and the taw of the Jurisdiction In
<br />which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable
<br />low, such conflict shag not affect other provisions of this Security Instrument or the Note which can be given effect without the confpoing
<br />provision. To this end the provisions of this Security Instrument and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shag be given one conformed copy of the Note and cl this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest In Borrower. it all cr any part of the Property or any interest In
<br />it is sold or transferred (or If a beneficial Interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's
<br />prior wntten consent, Lender may. at Its option, require Immediate payment In hue of all sums secured by this Security Instmment.
<br />However. this option shell not be exercised by Lender it exercise Is prohibited by federal law as of the date of this Security Instrument.
<br />II Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice si,ai! provide a period of not less than 30
<br />days from the date the notice is delivered or mailed within which the Borrower must pay all Sums secured by this Security Instrument If
<br />Borrower falls to pay these sums prior to the expiration of this period. Lender maw nvake any remedies permitted by this Security Instru•
<br />ment without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shag have the right to have enforcement
<br />of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable Mw may specify,
<br />for reinstatement) before sale of the Property pursuant to any power of safe contained In this Security Instrument; or (b) entry of a
<br />judgment enlorcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under
<br />this Security Instrument and the Note had no acceleration occurred: (b) cures any default of any other covenar' or agreements: (c) pays
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<br />all expenses incurred In enforcing this Security Instrument. Including, but not wrxtea to. reasonaoie aiiarneya' 9ae&, :r,d (:.; :....• a::..,, •..... n
<br />as Lender may reasonably, require to assure that the hen of this Security Instrument. Lender's vg:rw "s in the Property and Borrower's Oblfg-
<br />stion to pay sums secured by this Secuity Instrument shag continue unchanged. Upon reinstatement ;+y Borrower, this Security Instrument
<br />end lit obligations secured hereby shag remain fully effective as d no acceleration had occurred. "awever, this right to reinstate shall
<br />not apply In the case of aeceicrabon under paragraph 13 or 17-
<br />r1029.CT1 (11/90)
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