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<br />If Lender required mortgage insurance as a condition of making the loan secured by Ihis Securily Inslrument,
<br />Borrower shall nay.thept"emiums.rl!<.l.uired. to maintain the insurance in cffect until such lime as Ihe requirement for the
<br />insurance terminpt,ts t~ 1fc""t~dta@I:~,~t(iPB.W. ~5iwh:s and Lender's writte? agreement o~ appli~able law.
<br />. 8, Inspe~tlO~ i'..,. ~ ~ ~ ~'l.~PJ~y. Ina~e reas?nable e~t~les upon and inspections o~ the P~operty. Lender
<br />shall give Borrow6r,,"~~H'e' ~t.prll>.r.!1~ 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 Properly, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a tOlaltaking of the Property, the proceeds shal! be applied 10 the sums secured by Ihis Security
<br />Instrument, whether or not then due, with any excess paid 10 Borrower. In the evenl 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 tolal amount of the sums secured immediately
<br />before the taking, divided by (b) the fair markel value of the Property immediately before Ihe laking. 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 10
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender wilhin 30 days afTer the date the notice is
<br />given. Lender is authorized to collect and apply the proceeds, at its option. either to restoralion or repair oflhe Property or
<br />to the sums secured by Ihis Security Instrument, whether or not then due.
<br />Unless Lender and Borrowcr otherwise agree in wriling, any applicalion of proceeds to principal shall nol extend or
<br />poslpone Ihe due date of the monlhly paymenls referred to in paragraphs 1 and 2 or change Ihe amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. EXlension 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 release Ihe 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 modify amortization of the sums secured by Ihis Security Instrumenl by reason of any demand made
<br />by Ihe original 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 />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers, The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to Ihe provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrumenl but does nol execule the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under Ihe terms oflhis Security Instrument; (b) is not personally obligaled to pay
<br />the sums secured by this Security Instrument; and (c) agrees Ihat Lender and any other Borrower may agree to eXlend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or Ihe Note wilhoul
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrumenl 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 collected 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
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose 10 make this refund by reducing Ihe principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal. the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note,
<br />13. Legislation Affecting l..ender'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 10 its lerms, Lcnder, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any rcmedies
<br />permitted by paragraph 19. If lender exercises this option, Lender shall take the steps specified in thc second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nolice to Borrower provided for in this Security Inslrument shall be given by delivering il or by
<br />mailing it by first class mail unless applicable law requires use of anothcr melhod. 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 lcndcr designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed 10 havc bcen givcn 10 Horrower or Lcndcr when given as providcd
<br />in this paragraph.
<br />15. Governing Law; Severability, This Security Instrumcnt shall be governed by fcdcrallaw and Ihe law of lhe
<br />jurisdiction in which the Property is located. In the event that any provision or c1ausc of this Sccurity Instrumcnt or the
<br />Note conflicts with applicable law, such conflict shall not affecl other provisions of this Security Instrumcnt or the Nolc
<br />which call be given effect without the conflicling provision. To this end the provisions of this Security Instrumcnl and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrowcr shall be gj\'en one conformed copy of thc NOlc and of this Security Instrument.
<br />17, Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Properly or any
<br />inleresl in it is sold or transferred (or if a bencficial interesl in Borrower is sold or Iransfcrrcd and Borrower is not a natural
<br />person) without Lcnder's prior written consenl, Lender may, at ils option, requirc immediale paymenl in full of all sums
<br />secured by this Security Instrument. However, Ihis oplion shall nOI be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If lender exercises Ihis option, Lcnder shall give Borrower nOlicc of accelcration, The notice shall provide a period
<br />of not less than 30 days from the date the notice is dclivcred or mailed within which Borrower must pay all sums sccured by
<br />this Security Instrument. If Borrower fails 10 pay these sums prior 10 the cxpiralion of this pcriod, Lendcr may invokc any
<br />remedies permitted by this Security Instrument without fUrlhcr nolicc or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meels certain condilions, Borrower shall have the right to have
<br />cnforcement of this Securily Instrument discontinued at any lime prior to Ihe earlier of: (a) 5 days (or such olhcr period as
<br />applicablc law may specify for reinslatemenl) before salc of the Property pursuaDI to any power of sale containcd in this
<br />Security Instrument; or (b) entry of a Judgment enforcing this Security Instrument. Those conditions are Ihat Borrower:
<br />'(a) pays Lender all sums which thcn would be due under this Security Instrument and thc Note had no acccleralion
<br />occurred: (b) cures any default of any olher covcnants or agreements; (e) pays all expense's incurred in enforcing Ihis
<br />Securily Inslrumcnl, including, but not limited to, reasonable attorneys' fees; and (d) takes such aclion as Lender may
<br />reasonably require to assure that the lien of this Security Instrument. I.ender\ rIghts In the Property and Borrower's
<br />obligation to pay the ~,ums secured by this SecurIty Instruml'nt shall l"lHllllllle undwlIged Upon reinstatement by
<br />Borrower, this Security Inslrument and the ohligulIons sel'ured herehy shall relllalll rlllly elre,'tll e as 11'110 aCl'l.lerallon had
<br />occurred. 110\1 ever, this righlto reinstate shallnol apply III t he case or ile,'der iltlon lIndl'l I'illilgl "I'hs 1.101 17
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