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<br />88- 100585
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security In-
<br />strument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as a requirement for
<br />the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspeC(ions of the Property, Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable c.luse for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and
<br />shall be paid to Lender.
<br />In the event of a total taking llf 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 p,lrtial taking lif the Property, unless
<br />Borrower and Lender otherwise agree in writing, the slims secured by this Security Instrument shall be reduced by the amount
<br />of the proceeds multiplied by the following fraction: (a) the total amount of the SIIl11S secured immediately befure taking,
<br />divided by (b) the fair market value of the Property immediately hefore the taking. Any balance shall be I'Jid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after not ice hy Lendu 10 Bl'rrower that the condemnor offers to make
<br />In Jward or settle a clJim for damages, Borrower fails to respond to Lender within '>0 days after the dJle the notice is given,
<br />Lender is authorized to collect and Jpply t11l' proceeds, al its option, eithcr to rcstoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whcther or not then dut'.
<br />Unless Lender and Borrowcr otherwisc agrce IJ1 writlJ1g, ,Iny appliCllion of proceeds to pnncipal shall not extend or
<br />pustpune the due date of the monthly paymcms referred to in paragraphs I and 2 ur change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver, Extcnsion of the time for payment or
<br />modification of amortization of the sums secu red by this Secul'llY I nst rUll1cnt granted by Lender to any successor in interest of
<br />Borrower shall not operate [0 release the liability of the oflglllal Borrower or Burrower's successurs in interest. Lender shall
<br />not be required [0 commence proceedings against any successor in imcrcst or refuse to extend time for payment or otherwise
<br />modify amortizatiun uf the sums secured by this Sccurity Instrument by reason of any demand made by the original Burrower
<br />or Borrower's succeS50rs in inferesl. Any forbearance by' Lender in exercising any right or remedy shall not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />II. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements uf this
<br />Security Instrument shall bind and bencfit t he ~uccessors and assigns of Lcnder and Borrower, subject to the provisions uf
<br />paragraph 17_ Borrower's covenants and agreements shall bc joint and several. Any Borrower who co.signs this Security
<br />Instrument but does not execute the Note: (a) is co.signing :his Security Instrument only [0 mortgage. grant and convey that
<br />Borrower's interest in the Property under the terms of this Security Instrument, (b) is not personally obligated to pay the
<br />sums secured by this Security Instrument; and (c) agrces that Lender and any othcr Borrower may agree to extend, modify,
<br />forbear or make any accommodations with regard [0 thc terms of this Security Instrument or the Note without that
<br />Borrower's consent.
<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 collected or to be collected in connection
<br />with the loan exceed the permi[[ed limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce
<br />the charge to the permined limit; and (b) any sums already colleCted from Borrower which exceeded permitted limits will be
<br />refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a
<br />Jirect payment [0 Borrower. If a refund reduces principal, the redUCtion will be trcated as a partial prepayment without any
<br />prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enaCtment or expiration uf applicable laws has the effect of rendering
<br />any provision of rhe Note or this Security Instrument unenforceable according to its terms, Lendcr, at its opt ion, may require
<br />immediate payment in full of all sums secured by this Security Instrument and may invoke any rcmedies permi[[ed by
<br />paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17.
<br />14. Notices. Any notice [0 Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be direCted to the Property
<br />Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail
<br />to Lender's address stated herein or any other address Lender designates by nutice [0 Borrower. Any notice provided for in
<br />this Security Instrument shall be deemed to have been given [0 Borrower or Lender when given as provided in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument 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 InstrumeIlt or the Note
<br />confliCts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can
<br />be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are
<br />declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of thc Note and of this Security Instrument.
<br />I i. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or an)'
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) withoUt" Lender's prior wri[[en consent, Lender may, at its option. require immediatc payment in full of all sums
<br />secured by this Security Instrument. However, this optiun shall nO[ be exercised by Lender if exercise is prohibitcd by feJeral
<br />law as of the date of this Security Instrumcnl.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The nut ice shall provide a period of
<br />not less than 30 days from the date the notice is delivered or mailed within which Borrower mUSl pay all sums secured by this
<br />Security Instrumenl. If Borrower fails to pay these sums prior to the expirallon of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument withoUt" further noticc or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to havc
<br />enforcement of this Security Instrument disnllltinued at any time prior tp thc earlier uf: (al ') days (ur such other p~riOlI as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power uf sale contained in I his Sc.
<br />curity Instrument; or (b) entry of a judgment cnforcing this SeCllrity Instrulllelll Those conditions are thaI UurrowcT Ll)
<br />. pays Lender all sums which then would bc due under this SeCllrily Instrunl('llt and I he Note had no arrelnal Ion occurred. I b;
<br />cures any default of any other (onvenants or agreements; (() pays ,11ll'X Iwnsn Il1lurred in enforung I his Sn'uril) Inst rUlllC'I1l,
<br />IIlduding, but not limited 10, reasonablc attortlc'ys fees, ,md (d, take, SHIh ,I\tlllll .1., \.c'ndcr 1ll,IY rC,IS(lI1,lbly re<lllllT III ,I"
<br />S\He Ihal the lic'nof this St>C1HIlY Instrument, Lt'll\lers rlghl\ III lhe P"'I'I'I1Y ,111.1 HOITlI\\'el' obhg.llIOt1 10 pay the '11111'
<br />secureJ by this Security I nstrulllent shall UJllt 111\11' unlh,lllgC.d Ii pOll 1l'lll'1.I11'1lll'111 hI' H, l( I lIWI'1 , dlls St'lll r It I' II1Slrlllllllll
<br />,111.1 the obligallons seHlred herch)' sh,dll("m;lIll fully eftnll\'\" ,1\ It I1Il ,llld('l'.llll111 ",Id "Illlrr!'d II 1l\\1'\'\" I.. tl1l', rl!~hl rll
<br />rellls'at!: shall not .Jpply III the last' ot allelnat,ollllndcl p.ll.lgr.lphs I ~ III 1
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