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<br />87- 107212
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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 wiihBortower's and Lender's wrillen agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an 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 part of the Property, or for conveyance in lieu of condemnation. are hereby
<br />assigned and shall bepaid to Lender.
<br />hi 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 sum~ 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 is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or sell Ie 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 />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such pa}'ments.
<br />10. Borrower Not Released; 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 releasc 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 modif)' amortization of the sums secured by this Security Instrument by reason orany demand made
<br />by the otiginal 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 />1), Successors and Assigns Bound; Joint and Several I.iabilit), Co.signers. The m\'enants and agR'Cments 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 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
<br />that Borrower's interest in the Property under thl.' tl.'rnlS of this Security Instrument: (b) 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 or make any accommodations with regard to the tenns of this Security Instrument or the Note without
<br />that Borrower'sconsent.
<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 l:ollected or to be collected in
<br />connection with the loan exceed the pennilled limits. then: (a) any such loan charge shall be redul-ed by the amount
<br />necessary to reduce the charge to the pennilled limit; and (b) any sums already mllected from Borrowl.'r which eXl~eedl-d
<br />pennilled limits will be refunded to Borrower. lendl.'r may choose to make this rcfund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a rcfund reduces principal. the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. l.egislation Affecting l.ender's Rights. If enactml.'nt or expiration of applicable la\\'s has the cffect of
<br />rendering any provision ofthe Note or this Security Instrument unenforceable according to ils ternls, l.ender, at its option,
<br />may require immediate pay'ment in full of all sums secured by this Security Instrument and may im'oke any remedies
<br />permitted by paragraph 19, If Lender exercises this option. lender shall take the steps specified in the second paragraph of
<br />paragr.t ph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given hy' delivering it or by
<br />mailing it by fifSt 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 tender. Any notice to Lender shall be gJ\'en by
<br />first class mail to Lender's address stated herein or any other address tender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to haw been givcn to Borrower or lender when givcn as provided
<br />in this paragraph.
<br />15. Goveming,Law; Severability. This Security Instrument shall be go\erned by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any pnwision or clause of this s..'Curity In~tn:ment or the
<br />Note conflicts with applicable law, such connict shall not affect other pnwisions of this s..'Curity Instrument or the Note
<br />which call be given effect without the conflicting provision. To this end the pro\'ision~ of thi~ Security Instrument and the
<br />Note are declared to be sevcrable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note .md of this Security InstTllml'l\I,
<br />17. Transfer of the Property or a Beneficial Intl:resl 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 tran~ferTl-d and Borrowcr is nol a mllur.lI
<br />person) without lender's prior wrillen consent, lender may, at its option. Tl'quire immediate payment in full of .,11 sums
<br />secured by this Security Instrument. lIo\\'e\'er, this option shall not be cxercisl-d by Lender if exercise is prohibill-d by
<br />,federal law as of the date of this Security Instrument.
<br />If Lender excrcises this option, Lender shall give Borrower notice of acceleration. Thc nolice shall pn)\'ide a period
<br />of not less than 30 days from the datc the notice is delivered or mailed within which Borrower must pay all sums sectlr''ll by
<br />this Security Instrument, If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke :IIlY
<br />remedies permitted by this Security Instrument without furthernoticcor demand on Borrower.
<br />18, Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrowcr ~hall havc thc right 10 have
<br />enforcement of this Security Instrument discontinued al .IIIY time prior to the earlier of: (a) 5 days (or SUdl othcr period as
<br />applicable law may slll:cify for rcinstaternel\l) before salc of the Properly pursuant to any powcr of s;llc contained in Ihi,
<br />Security Instrumenl; or (b) entry' of a judgment enforcing this Security h"lruml'nt, Thos<' c,'ndilion~ arl' that Borrower:
<br />(il) pays Lender all sums which then would be due under this Sl'Curity Instrument and the Nute had no aCl'deral"'n
<br />occurred; (b) cures an)' default of any otherco\'ellanls 01 agrcements; (c) pays all e.\l><:n\e\ inl'urred III enrorcin!! lIlls
<br />Sccurity Inslrumelll. including, but not limiled 10, reasonable allorneys' fl'Cs; and (d) takc, ~uch aCllUIl '" Lemler may
<br />reasonably require to assure that the lien of Ihis Security Instrument, Lcnder's rights in Ihc Properly and BorHlwl'r'~
<br />obligation 1<1 Pol)' lhe SUIllS secured by thi~ Securily In~lrulllent shall conlil1lu: unchallg,'d, Upon lelllslal"lllenl b)
<br />Ilorrower, this S<'l'llrll) Insuulll<,nl and thc obligations securcd hercby ~hall rClllalll fully <,1l.'''II\l' as II' no a"l'dl'lali"n had
<br />occurred, lIowc\'eT, Ihls right 10 rcin\lale shall 1101 apply IIllhl'"a,e Ill' al'cell'lallon undl'll'aragraph, 1,101 I'
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