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<br /> �9"` 1 Q6742
<br /> �"' IP Lender requircd mortgage insurAnce as a condition of making thc loan secured by this Security dnstrument,
<br /> 1 Borrower shall pa}the pramiums requireci ta maintain the insurance in cfFect until such time as the requirement for the
<br /> insurance terminates in accordance with Aorrawer's and Leader's written agreement or applicable luw.
<br /> 8, inspection. Lender ar its agent may mAke reasonable entries upon and inspections af the Praperty. Lender
<br /> shaU give Borrowe�notice at the time of or prior to an inspectian speci�ying reas�nable cause for the inspection.
<br /> 9. Condemnatton. The proceeds af any award or claim for damages,direct or consequential,in connection with
<br /> any condemnatiun ar other taking of any pan oi'the Property. or for conveyance in lieu of candemnation,are hereby
<br /> assigned and shal)be paid to Lender.
<br /> ' In the event of a total taking of the Praperty,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�he event of a partia)taking of the Property,
<br /> unless Borrower and Lender otherwise agree in writing, the sums secured by this Security lnstrument shall be rdduced by
<br /> the amount of the pra;eeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br /> . before thc taking,divided by(b)the Pair market value o�'the Property immediately before the taking.Any balance shall be
<br /> ' paid to Borrower.
<br /> lf the Property is abandoned by Borrower.or iE after notice b��Lender to Borrower that the condemnar oSers to
<br /> make an award or settle a claim far dumages,Bonower 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 Yroperty or
<br /> to the�ums 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 shaU noi extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs l and 2 or change the amount of such payments.
<br /> 10. Honower 1Vot Released; Forbearance Hy Lender Not a Waiver. Extension of the time for pacment or
<br /> modification of amonization of the sums secured by this �ecurity Instrument granted by Lender to am successor in
<br /> interest of Borrower shall not operate to release the liability of the original Borrower or Barrower's successors in interest.
<br /> Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time fo�•
<br /> payment or otherwise modifjr amortization of the sums secured by this Security Instrument by reason of any demand made
<br /> by the ariginal Borrower or Borrawer's successors in interest.Any forbearance by Lender in exercising any right or remcdy
<br /> shall nat be a waiver of or preclude the exercise of any right or remedy. ;
<br /> 11. Successors su�d Assigos Bound;Joint and Several Liability;Casigners. 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.Honower's covenants and agreements shall be joint and several.Any Barrawer who co-signs this Security .
<br /> ' Instrument but does not execute the Note:(a)is co-signing this Security Instrument only to mortgage,grant and convey f �
<br /> . I�I�it�:ti�!'S sRi�:�!in th�ns.7�,:.,:y ai�dCi i�i�ic,;,�s of iiis�e�:uiiiy insirumeni:ioj i�not personaijy oojigated to pay ;_.�_
<br /> the sums secured by this Security lnstrument;and (c)agrees that Lender and any other liorrower may agree to eatend.
<br /> modifj+,forbear or make any accommodations with regard to the terms of this Security instrument ar the Note without �
<br /> that Borrower's consent. ' -
<br /> l2. Loan ChArges. If the loan secured by this Security Instrument is subject to a law which sets maximnm loan
<br /> charges, and that law is f�nally interpreted so that the interest or other loan charges callected 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 S�
<br /> necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Borrox•er which exceeded :
<br /> permitted limits will be refe�nded to Bonower. I.ender 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 trcated as a �
<br /> partial prepayment without any prepayment charge under the Note.
<br /> 13. Legislstion Affeeting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br /> � rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender,at its option,
<br /> � may reqaire immediate�aayment in full of all sums secured by thix Security ]nstrument and may invoke any remedies a
<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 /> l4. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by ;'•�`
<br /> mailing it by &rst 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 ia this Security Instrument shall be deemed to hace been given to Borrower or Lender when given as provided ' .
<br /> in this paragraph.
<br /> • 15. Governing Iaw;Severabllity. This Security lnstrument Shall be 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 wjth app};cable law,such cflnflict shall not affeci other provisions of this Sec�rity ins�rument ur �hr Note
<br /> which can be given effect without the conflicting provision.To this end the provisions of this Security Instrument and the
<br /> • Note are declared to be severable.
<br /> �6. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of'this Security Instrr�menr.
<br /> 17. Transfer of the Property or a Beneficial Interest in Borrower. lf all or any part of thc Yroperty or any
<br /> interest in it is sold or transferred(or if a beneficial interest in Borrower is sold or transfetred and Borrower is not a natural
<br /> person)without Lender s prior written consent,Lender may,at its option,require immediate payment in fu11 of all sums
<br /> secured by this Security Instrument. However. this option shall not be exercised by Lender if excrcise is prohibited by
<br />. federal law as of thc date of this Security Instrument. ------_---
<br /> , If Lender exercis�this option,Lender shall give Borrower notice of acceleration.The notice shall provide a period •
<br /> of not less than 30 days Gom the date the notice is delivered or mailed within which Borrow�r mutit pay ap surrti�secured bv
<br /> this Security lnstrument. 1P Borrower fails to pay these sums pnor io the rxpiration�f'this period. Lender may mvoke any �
<br /> remedies permitted by ihis Security Instrument without further notice or demand on&�rrowcr. � �
<br /> 18.Bc�rrower's Right to Reinstate. If 8orrower meets certain cond�tinns, Eiorrower shall havr the nght to have
<br /> enfotcement of lhis Security lnstrument discontinued at any time pr�or tn the earl�er of:(a)5 dayti(or tiurh othcr perutd ati
<br /> applicable law may specify for reinstatement)before sale of'the Pruper�y pur,uant te�any p�wer e�f�ale ccmtamed in th�ti I
<br /> Secunty lnstrumcnt; or(b)entry of a judgment enPoremg this Secunry In�trument 7'hour conditions are Ih�t H<�rmw•er:
<br /> (a) pays l,ender all sum� which then would be due under th�s Secur�ty Instrument and the N�,te had ni� accrler�tiun
<br /> e�ccurred; (b)eures any defauh ��P any other cocenants or agteement5. (c) pays all cxpen�c� mcurred in enForcing thiti �`"
<br /> -. Serunty instrument, includ�ng, but not l�mrted to, reasuu�6le attvrncyti feeti,and fd1 takes tiuch aruon a� Lrnder may y��
<br /> re:�tonahly rcyu�re t�� ,i�sure Ihat Ihc lien of thtti Scrunty Imtrument, l.cnder'� nghtti in the Pr��perty t�nd Hnrrnu�er'�
<br /> e�bltg�n�m ti� p��y thr �urm tiecured hy thiti Secunty lmtrument .hall �emtmue unch:in�;ed L'p+m irintitdtrnient h} �- •�
<br /> _ 13��rrnwrr,th�ti Se�unty Ir�titruttienl and Ihr��bhgalitmti tiecured her�My tihaU rema�n fully rfi-ecti�c a+if n��a�rrlrr.�unn Fieil
<br />° ��c curred Hnwe�rr.thi�ny,ht tu reimtate�h�il)nut arply in the�a�e��f,�cceleralmn w�drr�,.n.�F�r:��,h� I ;c�� I�
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