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<br />87- 107382
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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 />8. Iaspection. 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. CondenmatioD.. 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 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 ex~ 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) tbe fair market walue of the Property immediately before the taking. Any balance sball be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor olTers to
<br />make an award or settle a claim fOl'damages, Borrower fails to respond to Lender v.itbin JO da)'S after the date the notice is
<br />given, Lender is autborized 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 otherv.ise agree in writing. any applkation of proceeds to principal shall not extend or
<br />postpone the due date of the monthly pa)-ments rdem:d to in pmIIJ3phs I and 2 or change the amount of such pa)lm:nts..
<br />10. Borrowec Not Rdeased; FodIearuce By I.emdeI' Not. Wai1U. Extension of the lime for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any SU<<es50r in
<br />interest of Boflf01\'CC sball not opcnte to release the liability oftbe origin.aJ Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence procccdings ag;ainst any SUoCCC5SOf" in interest or refu.sc to extend time for
<br />payment or otherwise modify amortization of the sums secured by tbis Security Instrum.ent b)' re'd.SOll of an)' demand made
<br />by the original Borro",'er or Borro...'U's suooessors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not bea waiver of or pmclude tbeaerciscofany right orram:dy.
<br />II. Sucason'" AsDps Boud; Jom uti Seftnl Li.aJlilit}; Co-sipers. The connants and agreements of
<br />this Security Instrument shall bind and benefit the ~ and assigns of Lender and Borrow<<. subject to the pro~isions
<br />ofparagraph 17. Borro....er.s .:tn'COUlts and agreements shall bejoint and :sa-eml. Any Borro\\'U who ro-signs tbis Securit)'
<br />Instrument but does not aecute the Nole: (3) is ~ this Security Imtrument ooly to 1llOItg;sge,. gr.mt and con""!:y
<br />that Borro....u.s interest in the Property UiMkr the terms of this &curity Imlrummt; (b) is not persooally obligated to par
<br />the sums secured by this Security Instrument; and (c) apres that Lender and my cth<< Borrollli'er nuy ::JgRe to e:dend,
<br />modify, forbear or make any aocommodations with rq;ard to tbe terms of this Security Imlrumcnt or the Note v.ithout
<br />that Borrower"s conscnL
<br />11. I.au CIlarps. If the loan secured by this Security Imtrummt is subjoct to a bw which sds nu.ximum 10m
<br />charges" and that law is finlI1Iy interpreted so that the interest or CJthu loon clwges roIkcted or to be collected in
<br />connection with the loan excud the paIDitted limits" tbm: (3) my mcb 10m charge sh:all be mfU<<d by the amount
<br />nClOC!&ry to redllOe the clwge to the permitted limit; ;lOO (b) my wms already rolIected from Borrower which exett\kd
<br />pennitted limits v.iD be rd'UDded to 80rr0\\u. I.mdcr m.:ay cboose to make this rd'WId b)' red""ing the principal o~
<br />under the Note or by making a direct payment to 80rr0\\u. If 3. refund reduas principal, the reduction will be treated :n a
<br />partial prepayment without any pIqll3)"IDCIlt charge under the NoIe.
<br />n. Lt'gislatioa Affediaa l.mder"s RiPts. If m.xtment or apintion of awlDrcabk bws Ius tbe eITa... of
<br />rmderini an)' provision of the Note or this Security Instrummt Wllenfortt'.s.b!c :.tt'OOIding to its term'S" Lemkr. at its option,
<br />may r~ immediate payment in full 01 all sums SClCUred by tbis Security hntrument and may in"oke my remedi<s
<br />permitted by Jll3ragraph 19. If Lender a~ this oplion. I.mdoer malltue tbe steps ~fkd in the s.e.:cnd ptngmph of
<br />paragnph 17.
<br />14. Notica. An)' notice to Borrolil'U pnnida:l for in this Securit). Instrument $ball be p"m by ckli"wng it or by
<br />mailing it by lfirst cw.~ mail unless appticable law requires use or another method. The notice shall be directed to tbe
<br />Propm)' Addu:ss or any other address Borm1ier designates by notice to Lender. An)' notice to Lmckr shall be P\'W by
<br />first class mail to Lmda's address stated heftin or any other 3IIcIress Lenckr designates b)' notitt to Borrower. Any notk'e
<br />pTO"idcd for in this Security Imtrumeot shaU be deemed to ha\l: hem P\.en to Borro'liu or Lmckr 'liMn gi\'en :n pn)\id<d
<br />in this paragraph,
<br />15. Goftmiltg LaW; Seftf'lNlitJ. This Stturily Imtrummt $ball be go~ernoed b)' fcckr..1 bwand the Ilw of the
<br />jurisdiction in which the Property is located. In the e'\U1t that any pro\'~Yon or cbu'loe of this S<<urit}' In'50trument or the
<br />Note confticts with applicable law, such conffict WlI not affect OIlier pro\iYons of this 5<<uril)' In'50trumcnt or the Note
<br />whicb can be gh'en effect ~;tbout the conftictin8 pro~i:1ion. To this end the pro..nwm; ofthi!i S<<urit)' II\\trument and the
<br />Note are declared to be SC\'enble.
<br />16. Borrower's Copy. Borro1\'Cr WlI be gi"m one conformed COP)' of the NOIe and of this S<<urit)' h"trument,
<br />17. Trusfec of tIN' Property or . BeaeficlallDlum ill Bono_fl'. If all or aD)' part of the Prop:rty or an)'
<br />interest in it is sold or tran~erred (or if a bendicial interest in Borro~"!:r is sold or tran~erred and Borrower is not a natur.tl
<br />person) without Lender's prior written consent, Lemkr may, at its option, ro:quire immediate p.;l)ment in full of all sums
<br />secured by this Security Instrument. Howeyer, this option shall not be oe.xerd~ b)' Lender if exercise is prohibited b)'
<br />fedenllaw as of the date of this Security Instrument,
<br />If Lendf'.r exercises this option, Lendcr shall gh'e Borro\\'Cr notice of acttleration, The notice shall pro~ide a period
<br />of not less than 30 da)"'S from the date the notice isddivered or mailed ~ithin which Borrower must pa)' all sums secured b)'
<br />this Security Inslrument. If Borrower fails to pay these sums prior to the expiration ofthis period. Lender ma)' in"oke any
<br />remedies permitted by tbis Security In'50trument without further notice or demand on Borrower,
<br />18. Borrower's Ripl to Reinstate. If Borrowcr meets certain conditions. Borrower shall ha\'e the right to ha\'e
<br />enforcement oflhis Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to an)' power of sale contained in this
<br />Security InMrumenl; or (b) entry of a judgment enforcing this Security Instrument. Those condilions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had 110 acceleration
<br />,occurred; (b) cures any default of any other co\'enants or agreements; (c) p.;l)'S all expenses incurred in enforcing this
<br />Security Instrument. including. but not limited to. reasonable aUome)'s' fccs: and (d) takes such action as I.ender may
<br />reasonably require to assure that the lien of this Security In'50trumenl, lender's nghts in the Property and Ilorco\\'er's
<br />obligation to pay thc sums s<<urcd by Ihls Sccuril)' Instrumcnt shall continue unchanged, Upon reimtatcmenl by
<br />Borrower, thiS Secunty Instrumenl and thc obligations securcd hereby shall remam fully clTcdl\'<: as If no acceleration had
<br />occurrcd. lIo\\"e\'er. this nght to reinstate shall not apply an the ca~ of accelerallnll under paragraphs 13 (I! 17
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