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<br />88~ 101155
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<br />If Lender required mortgage insurance as a condition of making the loan secured by ihis 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. Inspt!ction. 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 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 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 sums 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 payments.
<br />10. Borrower Not Released; Forbearance B)' Lender ~ot 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 release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any succ~or in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by tile 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 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 io mortgage, grant and convey
<br />that Borrower's interest in the PlOperty under the terms 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 terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sds maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan chargl'S collectl'<l or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) an)' 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 exceedl'<l
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal OWl'<l
<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 an)' prepayment charge under the Note.
<br />13. Legislation Affecting Lender'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 to ils terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured b)' this Security Instrument and may invoke any remedil'S
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices, Any notice to Borrower pro\'ided for in Ihis Security Instrument ~hall be gi\'en hy delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another melhod. The notice shall be directed to the
<br />Property Address or any other addrC'!.s Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's addr~ stated herein or any other address Lender dC'!.ignatl"S by notice to Borrower. Any notice
<br />provided for in this SecurilY Instrument shall be deemed to ha\'c been gi\'cn to Borrower or Lcnder when gi\'en as provided
<br />in this paragraph.
<br />15. Governing Law; Severabilit).. This Security Instrument ~hall be gO\eflll-d by fl-derallaw and the law of the
<br />jurisdiction in which the Property is located. In the e\entthat any provision or dau~e of Ihis Security InstH:menl or thl'
<br />Note conl1icts with applicable law. such conflict shall not affe.:t other pro\'isions of this Sl'CUrity Instrument or the Note
<br />which can be given elreet without the conflicting provision. To this end the provisions of thb Sl'Curit) Instrl!lnent and thl'
<br />Note are declared to be severable.
<br />16, Borrower's Copy, Borrower shall be gi\'en one conformed copy of the :--;ote and of I hi.. Sl'CUfily I m.trUllll'nt.
<br />17, Transfer of the Propert). or a Beneficial Interest in Borrower. If all or an) part Ill' the !'roperty or any
<br />inlerest in it is sold or transfern:d (or if a beneficial interest in Borrower i.. sold or Ir;lI\,tcrretl allll Btlfnl\\"l'r i, nOI a 'Ialural
<br />person) wilhout Lender's prior wrillen ConSl'nt, Lender may, at its option, reqlllrl' IllllIIl'(hall' P,IY nwnt III fulltlf ;111 '"IllS
<br />secured by this Security Instrument. However, this option shallllllt be l':\clcl\l'(1 hy l.l'ndl'l If ('\CIO'I' 1\ p"llnhiled by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this oplion, Lender shall give Borrower nollce of aCccll'r;lIl1ln. Thc 11I11ICl' ,h;.1I plm Ilk a period
<br />of not less than 30 days from the date the notice is delivered or mailed \\ltlnn \\ IHch BllflO\\l'r 111'''1 pay .111 'Inll' secured h)
<br />Ihis Security Instrument. If Borrower fails to pay these sums prior to the e:\piration oflhi, pClIod, 1.1'IIllcllllay 1ll\llkl' any
<br />remedies permilled by Ihis Security Instrument without further notice or dellland on Borrowl'r.
<br />18, Borrower's Right to Reinstate. If Borrower mects certain conditioll', Borrower ,hall ha\l' Ihl' right 10 have
<br />enforcement of this Security Instrument discontinued at any time prior to thl' l'arlier of: (a) 5 day' (or sllch othl'r pl'liod as
<br />applicable law Illay specify for rcinMalement) before sale of the Propl'r1y pllr~uant to any POWl'I Ilf saIl' containl'd in Ihl'
<br />Security Instrument; or (It) ('nlry of a judgment enforcing this Securil) InSlrllml'nl Tho,l' condItions an: that BorrO\\'l'r:
<br />(11) pays Lendcr all SUIIIS which thell would be due under this Sccurity Instrumcnt and the ~otl' had no aCCdl'fatHlIl
<br />occurrl'd; (It) cures all>' defaul1 of any other covcnallts or agreements: \c) pays all expcnses incUfIl'd III l'nforclllg this
<br />Security Inslrulllent, lIIc1udillg, hut nol Iillliled 10, reasonaltle attorneys' fees; and (d) lakes such action as 1.,'llller may
<br />reasonahly requlfl' 10 assurl' Ihal Ihe hen of this Security Instrumenl, I.l'nder', fights III thl' I'ropl'rlY and BOflO\\l'r\
<br />ohligallll!l 10 pay thl' '11111' Sl'curl'd by tillS Security Instrulllent ..hall conllliUl' unchanged l'pon reln,lah:11I1'nl hy
<br />Borrower, IhlS Sl'l'lIl1l) In\IrUlllcnt and the ohligation, secured hereby shall n:l1Ialll fully dTl',tl\l' a, If no ac',dnallon had
<br />I"-TUfll'd IIm\l.\..r, Ihl' right to relll,tatl' shalllwt apply IIllhe case of ;ll'c-ckra!lon under paragraph, I' "f 1 ~
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