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<br />88-- 101499
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<br />If Lender required mortgage insurance as a condition of making Ihe loan secured by this Security instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effecl until such time as the requirement for the
<br />insurance tenninates in accordance with Borrower's and Lender's written agreement or applicable law,
<br />II, Inspection, 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 lotal 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 Ihis 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 Lende. to Borrower that the condemnor offers 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 10 in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not 8 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 uny successor 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 the 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 AMigns 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 to mortgage, grant and convey
<br />that Borrower's interest in the Property 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 tenns of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12, Loan Ola..rges. 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
<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 pennitted limil; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by .educing the 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 Lender's Rights. If enactment or expiration of app]icable laws has Ihe effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />pennitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph J7,
<br />14, Notices. Any notice to 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
<br />Property Addres~ 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 Lender designates by notice to Borrower, Any notice
<br />provided for in this Security Instrument shall be deemed to ha\'e been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing LaW; Severability. This Security Instrument shall be governed by rederallaw and the law of the
<br />jurisdiction in which the Property is located, In the event that any provision or clause of this Security Instrument or the
<br />Note conflicls with applicable law, such conflict shall not atfeet other provisions of this Security Instrument or the Note
<br />which can be giv~n effect without the conflicting provision. To this end the provisions of this Seeurity Instrument and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one confonned copy of the Note and of this Security Instrument.
<br />17. Transfer or tbe Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial inter~t in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date ofthis Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of ac{:e!eration. The notice shall provide a period
<br />of nOlless than 30 days from the date the notice is delivered or mailed within which Borrowe. must pay all sums 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 Instrument without further notice or demand on Borrower,
<br />J8. Borrower's Ript to Reinstate, If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Securit)' Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period liS
<br />applicable ]ltW may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no accelen:tion
<br />occurred; (b) cures any default of LilY other cO\'enants or agreements; (c) pays all expenses lIlcurred In enforcing this
<br />Security Instrument, mcluding, but 1I0t limited to, .easonablc: llllomeys' fee!>; and (d) takes such aClion as Lender may
<br />realoOnably require 10 assure that Ihe lien of this Security Instrument. Lende.'s righls In the Propnty and norrower's
<br />obligallon to pay the sums secured by this Security Instrument shall continue um"hanged, Upon .cmslalemcnl hy
<br />8ormwer. this SccUnl)' In\trumenl and the obligation.. secured hereby ~haJl remam full) effective as If no lln"detallOIl hll\!
<br />occurred, Howe\'C'r, thi~ righlto reimtale \hl!J1 not apply 111 the cas<: of acceleration under puagraphs J,lllr 1"7
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