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<br /> " substantiaily equivnlert martguge insurance coverage is not avuilable, Borrower Shull pay ta l.ender each mon[h u sum equal to .
<br /> one-twclfth af the yc�irly rreorigage insurance premium heing{laid by Dorrower when the insurarice cnvernge lapsed or censai to
<br /> bc in effect. Lendr.r will accept, use unJ retain these paymcnts ais n Ic�ss re�crve in licu of mortgu�;e insurance. I.oss reserve
<br /> „ ,, payments may no lonscr be requirc�l, at thc option uf'Lendcr, if mort��ge insurunce covcrugc(in thc amount and for the period r:
<br /> that Lcndcr requires)providal by nn insurcr approvcd by l.cnder again Bccomcs uvailablc.ind is obtained. Borrawcr shall pay _.4,
<br /> the premiums required to mnintain m�rtguge insurance in effcct,or to provide a loss resecve,until the reyuirement far mortguge __
<br /> insurance ends in accordance wit6 nny written agreement het�veen Borrower nnd Lender or appNcable Inw. :�:
<br /> 9, Inspection. [.cnder or its ugcnt may make rcusonablc cntries upon and inspcctions of thc Property. L.endcr shall give �''�F
<br /> 8orrower notice at the time of i�r prior to an inspection specifying reasonuble cause far the inspectfon. m
<br /> " 10. Condemnt►dm�, The �mc�eds nf any awnrd nr claim for damages, dircct or conse�uential, in connecNon with any ��_--',�`
<br /> , ' condemnation or nther taking of uny part of the Property, or far conveyance in lieu of condeinnation, �re hereby assignul and -
<br /> shall bc paid to Lcndcr. =°_
<br /> In the cvent of u tot�l taking of thc Property, the proceeds shall be upplied to the sums sccurcd by tnis Security Instrument, �;�
<br /> . whcther or not then due, with any exce:;s paid to Borrower. In the event of a purtial taking of the Property in which the fair '.
<br /> market value of thc Property immcdiately befarc the taking is cqual to or grezter than thc amount of thc sums securcd by this ;°�_
<br /> Securiry Irstrument immediutely before the taking, unless Borrower and I..endcr othcrwisc agree in writing, the sums secured by __
<br /> this Security Instrument shall be reciuced by the amount of the proceeds multiplied by the follo�ving f'raction: (a) the total �- __
<br /> ' amount of thc sums secured immediately beforc the taking, dividc.d by (b) the fair market vulue of the Propeity immediately
<br /> before thc taking. Any balance shall be paid to Borrower. In the cvent af a partial taking ot' the Property in which the fuie
<br /> murket value of thc Praperty immediately befare the takins is Icss than thc amount of che sums securcd immediately before the
<br /> taking,unlcss Borrower and Lendcr otherwisc agrec in writing ar unlcss applicable Inw otherwise providcs, ►hc proceeds shall
<br /> be applicd to the sums secured by chis Security Instrument whether or not the sums are then due.
<br /> If the Property is abandoned by Banower,or if,after notice by L.ender to Borrower that the cnndemnor offers to make un
<br /> award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after thc date the notice is givsn,
<br /> � I.ender is authoriud to collect and apply the proceeds,at its option,either to restoration or rep�r of the Property or to the sams .
<br /> sccured by this Security Instrument, whether or not then due.
<br /> ,. ' Unless Lender and Borrower otherwise agree in �vriting, any application of procceds to principal shall nat extend or
<br /> postpone the due date of the monthly payments referred to in p:uagraphs 1 and 2 or change the amount of such payments. �_
<br /> 11. Borro�ver Not Released;Forbearance By Lender Not n Wafver.Extension of the ti me for payment or modification
<br /> af amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrowcr shall
<br /> not operatc to rcle;�se the liability of the original Borrower or Borrow�r's successors in interest. Lender shall not be required to
<br /> commence praceedings agttinst any successor in interest or refuse to extend time for paymeiit or otherwise modify umortization
<br /> of Yhe sums secured by this Sccurity Instrument by rcason oF any de�nand made by the original Borcower or Borra�ver's
<br /> successors in interest. Any forbearance by L.ender in exercising any right or remedy sh�ll not bP a waiver of or preclude the
<br /> , exercise of uny right or remedy. _
<br /> 12. Successors and Asst�ns Bound; Joint and Several Liubility; Co-slgners. The covcnanw and ugreements of this
<br /> Security Instrument shall bind and benefit the successors and ussigns of Lender and Borcower, subject to the provisions of
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<br /> • Instrument but does not execute the Note: (a) is co-signing this Security instrument only to mortgage,grant and convey that
<br /> Borrower's interest in the Property under the terms of this Security lnstrument;(b) is not personally obligated to pay the sums 1°'
<br /> secured by this Security Instrument; and(c)ugrecs that Lender und any othcr Borrowcr may agrec to extcnd. modify,forbcar or
<br /> make any accommodations with regard ro the terms of this Security Instrument or the Note without that Borro�ver's consent.
<br /> 13. I.oan Chai�es.If the luan secured by this Seeuriry Instrument is subject to a law wh ich sets maximum loan eharges, --
<br /> and that law is finally interpreted so that the interest or other loan rharges collecteci or to be�ollected in connection with the ---
<br /> luan exceed the permitted limits, then: (a)any such loan charge shall be reduced by thc amount necessary to reduce the charge "
<br /> � to thc permltted limit: and (b) any sums alreudy collected from Borrower which exceeded permitted limits will be refunded to __
<br /> . Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by mnking a direct �� _
<br /> payment to Bonower. If a refund reduces principal, thc rcduction will be trcuted as u partial prepayment without uny '
<br /> ' prepaymeni charge under the Note. ,�'
<br /> 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delive�ing it or by mailing ti:-
<br /> it by ftrst class mail unless upplicable law rcyuires use of another method. The notice shall be directed to the Propeny Address �:ry
<br /> or any other address Borrower designates by notice to L�:ndcr. Any noticc to Lendcr shall bc givcn by first dass mail to ,__ ,_
<br /> �� Lender's address stated hercin or any other address Lendcr dcsignates by noticc to Borrower. Any noticc provided for in this " �`,
<br /> „ Securiry Instrument shall bc deemed to have bcen given to 6orrowcr nr Lcndcr when given as provided in this paragrnph. ""�'+
<br /> � 15. Governbg Law; Severnbility. This Security Instrument shall bc govcrned by federul law and thc luw of the ` :,;_.
<br /> jurisdiction in which the Propeny is located. in the event thut any prov�sion or clause of this Securiry Instrument or the Note
<br /> conflicts with applicable law,such conflict shull nut affect otlier pro�-isic�ns of this Securiry Instrument or the Note wl�ich can be "
<br /> �" , given effect without the contlicting provision. T�� this end the provisians of this Securiry(nstrument and the Notc are declared
<br /> to bc scverablc.
<br /> � 16. Burrower's Copy. Borrowcr shall bc given onc cuntiirmcd ropy of the Notc xnd of this Scwrity[nstrument.
<br /> 17. Transfer of the Property or u Beneffcial Interest in Rorroa•er. If all or any part of thc Property or an; intcrest in it
<br /> i.Suld or transferrcd (or if a bcncticial inter�st in E3c�rrowcr i� +uIJ ur transfcrrcd aiiJ Borcciu•er is not a natural persun) without � •-
<br /> l.ender's prior written consent, Lendcr may, at its option, rcyuire imnudi:�tc payment in full uf all ,ums scrurcd by this
<br /> , Sccurity Instrument. Howevcr. this option tihall not hc excrcised by Lendcr if excrcixc is prohibited by federal luw as of thc datc
<br /> of this Sccurity instrumcnt. '
<br /> If Lender cxerciscs Ihis option, Lcnder shall gi��e Borrowcr noticc of acrcleration. The not icc shal l prnvidc a period of not `
<br /> Iess than 30 days from die date the notice is Jclivered or mailed within which Burrc�wer nm�t pay uU sums serured by this �
<br /> Sccuriry Instrument. If Borrowcr fails to pay thesc .ums prior to the cxpiration of this period,[�ndcr may invokc any remedicti
<br /> permitted by this Sccurity Instntmcnt without furthcr noticc or J;,mand an Borro�vcr. I
<br /> 18. Borrower's Rl�ht to Reinstute. If Borrower mcets cr.rtain runditions, Borcower �hall have the right to havc
<br /> cnforcemcnt of this Scruriry Instrumcnt disc��ntinucd at uny titne priar ta thr rarlicr i�f: (ul 5 J:�ys (ur �urh uthrr prriod a, �
<br /> applicablr law may spccit'y fi�r rcinstatcmcnU hctiirr tialr c�t tha Praperty pursucint tu .uiy E�c�w�r c�f�cilr cantaincJ in this �
<br /> 5ecurity Instrumenr,or(b)entry of u juJ�nunt entiircin�this Scruriry Instrumcnt. Thu.r runJitions are�hat [3urruwer. ca)pxyy
<br /> Lcnder all xumx which thcn wou1J bc duc undcr thi, Scrurity [nstrumcnt aud thc Notc ati if nci acc:dcraiion had ��ccurrcd: (h)
<br /> cures �ny default of'sny other covenants ur agrcementr: (r) pay�all expen�rs incurred in enfc�rcing thi� Serurily Imtrument.
<br /> including, but not limited to,reasonublc auorncyti' fecti: and (el) t:ikcs tiuch artion as Lendcr niay reas�mahl}• rcyuire tu assurc :
<br /> that thc licn of thi�Sccurity instrumcnt, Lcndcr'ti rights in thc Pruperty anJ Hurrowcr'ti ubli�atian tu pay thc�um�+rrurrd by
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