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<br />88..... 101487
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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 th~ 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. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property, Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. CondemnaOon. ;'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
<br />and shall be paid to Lender.
<br />In the event Qb.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 secnred by this Security In5lrument shall be reduced by the
<br />amount of the proceeds multiplied by the followinS fraction: (a) the total amount of the sums secured immediately before the
<br />taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to
<br />Borrower,
<br />If the Property is adandoned by Borrower, or if, after notice by lender to Borrower that the condemnor offer~ to
<br />make an award or settle 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 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Reltased; Forbtal'l.nn By Lender Not II Waiver. Extension of the time for payment or modification
<br />of amortization of the sums secured by this Security Instrument granted by lender to any successor in interest of Borrower
<br />shall not operate to release the Iiabilit), of the original Borrower or Borrower's successors in interest. Lender shall not be
<br />required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
<br />Bonower's successors in int,erest. 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. Suc:~n aDd AssItIl5 Bound: JOIDt and Several L1llblllly; Co-signers. The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of lender and Borrower. subject to the provisions of
<br />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 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) agrees that Lender and an)' other Borrower ma}' agree to extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that
<br />Borrower's consent.
<br />11. Lo.. CII.fln. 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 permitted limits. then: (2) any such loan charge shall be reduced by Ihe amount necessary to reduce
<br />the charge to the permilled 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 Notc or by making
<br />a direct payment to borrower. If a refund reduces principal, the reduction \lo.m be treated as a partial prepayment wihout any
<br />prepayment charge under the Note.
<br />13. LeaWaIloJl Affldl_. Lead<<'s Rlahls, If enactment or expiration of applicable laws has the effect of rendering any
<br />provision of Ihe Note or Ihis Securit}' Instrument unenforceable according 10 its terms, lender, at its option, may require
<br />immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by
<br />paragraph 19. If under exercises this option, Lender shalltakr the steps specified in the second paragraph of paragraph 17.
<br />14. Nolket, Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailinll 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 address Borrower designates by notice to Lender, Any notice to Lender shall be given by first
<br />c:1ass mail to lender's address stated herein or any other address lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to ha\'e been gi\'en to Borro....er or Lender ....hen given as provided in
<br />this parqraph.
<br />15. GcI.tnlq Law; SeverabUily. This Security Instrument shall be governed by federal law antt the law of the
<br />jurisdiction in which the Property is located. In the event that any provisions or clause of this Security Instrument or the
<br />Note conflicts wilh appliCli.bl~ law, s!.lch conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be liven effect without the conflicting provision. To this end the prO\'isions of this Security Instrument and the
<br />Note are dedared to be severable,
<br />16. IIene_H'. Copy. Borrower shall be siven one conformed Copy of the Note and of this Security Instrument.
<br />17. T.....'tr 0' l~ Property or a lIe.fIdaIllttretl l. BonoWH, If all Or any part of the Property or any interest in it
<br />is sold or transferred (or if II beneficial interest in Borrowtt' is sold or transferred and Borrower is not a natural person)
<br />without Lender's prior written consent, Lender may,. at its option. require immediate payment in full of all sums secured by
<br />this Security Instrument. However, this option shall nOI be exercised by Lender if exercise is prohibited by federal law as of
<br />the date of this Security Instrument.
<br />If Lender exndscs this option, lender shall give Borrower noti~ of acceleration. The notice shall prOvide a period of
<br />not less than JO (\ays from the date the notice is delivered or mailed within which the Borrower must pay all sum~ secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, lender may invoke any
<br />remedies permitted by this Security Instrumenl without further notice Or demand on Borrower,
<br />II. .......:_... '. .... t. .......M. If Borrower meets ~rtain conditions. Borrower shall have the riaht to have
<br />enforc:cment of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or su"h other period as
<br />appnc.blclaw may iP'ICify for reinstatement) before sale of the Property pursuant 10 any power of sale contained in this
<br />Security lru.trumeDl; or (b) entry of a jUdpnmt enforcina this Security Instrument. Those conditions are that Borrower: (a)
<br />pays Lcnder"alI sums which then would be due under this Security Instrument and the Note had no accderation occurred; (b)
<br />cures Any dd'.wt of MY other covenants or qreements; (c) pays all e..penses incurred in enforcina this Securil)' Instrument,
<br />mcludiaa, bul not limited to, reasonable attomq's fees; and (d) takes such action as Lender may reasonably requirc to assure
<br />that the lien. of this Security Instrument, lender's riahts in the Propnty and Borrower's obliption to pay the sums secured
<br />by ~ Security In"-rurnent shall continue unchanled. Upon rein~tatemcnt by Borrower, this Security Instrument and the
<br />~ Malred hfteby shall remain lull)' effective as if no .ettleratilln had occurred. However, this rillht to reinstate shall
<br />DOt ~y In tbe cae of acceleration undet parqraph, 13 or 17,
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