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<br />88~ 101622
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<br />If Lender required mortgage insurance as a conditIOn of making the loan securcd by this Security Instrument,
<br />Borrowcr shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance tcrminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8, Inspection, Lender or its agent may make reasonable clIlncs UpOIl and inspections of thc Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspect ion spccifymg reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages. direct or consequelltial, in connection with
<br />any condemnation or other laking of any part of Ihe Propcrty. or for conveyance III heu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a lotaltaking of the Property. Ihe pwceeds shall he applied 10 the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid 10 Borrower. In I he even I of a parlial 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 ofthc ProperlY immediately before the taking, Any balanre shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if. after noticc hy Lender to Borrower that the condemnor offers to
<br />make an award or sellle a chlim for damages, Borrowcr fails to respond to Lcnder within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply Ihe proceeds, at lis option, either to restoration or repair of the Property or
<br />to the sums secured oy 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 duc date of the monthly payments referrcd to in paragraphs I and 2 or change the amount of such payments.
<br />10, Borrower Not Released; Forbearance By Lender Not 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 opcrate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lcnder shall not be requircd to commence proceedings against any successor in inlerest or refuse to eXlend lime for
<br />payment or otherwisc modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by Ihe original Borrower or Borrower's successors in intcrest. 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 rcmedy.
<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 bejoint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execule the Note: (a) is co-signing this Security Instrumenl only to mortgage, grant and convey
<br />that Borrower's inleresl in the Property under the terms of this Security Inslrument; (b) is nm personally obligated to pay
<br />thc sums secured by lhis Security Instrument; and (c) agrees that Lendcr .md any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard 10 Ihe lerms of this Securily Instrumenl or the Note wi:hout
<br />that Borrower's consent.
<br />12, Loan Charges, If the loan secured by this Security Inslrument is subject to a law which sets maximum loan
<br />charges, and that law is finally inlerpreted so that the interest or other loan charges colle(~led or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by thc amount
<br />necessary 10 reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permilled limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrowcr If a refund reduces principal, the reduction will be treated as a
<br />panial prepayment without any prepayment charge under the NOlI.'.
<br />13. Legislation Affecting Lender's Rights. If enactmcnt or cxpiration of applicable laws has the effect of
<br />rendering an)' provision of the Note or this Security InSlftlnlent unenforceahle according 10 ilS terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Securlly Inslrumenl and may invoke any remedi~'i
<br />permilled by paragraph 19. If Lender exercises this option, Lender shalltakc the steps spectfied in the second paragraph of
<br />paragraph 17.
<br />14. Nutices. Any nollee to Borrowcr proVided for mtlllS Secunly Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law require~ use of another method. The notIce shall be direcled 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 olher address Lender designatcs by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed 10 haH heen gIven te; Borrower or Lender when given as provided
<br />in this paragraph.
<br />IS. Gonrning Law; Severability. This Secunly Instrument shall be governed by federal law and Ihe law of the
<br />jurisdiction in which Ihe Property is located. In the event Ihal any prO\'lsion Ot dause of thIS Security Instrumcnl or Ihe
<br />NOll' conflicts with applicable I a...... such conflict shall nO! aftect other provisions of IhlS Security InslfUment or Ihe NOle
<br />which c::an b::: given effect without the conflicting provision. To this end the provisions of lhis Security Instrument and the
<br />Note arc declared to be severable.
<br />16. 8orrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a 8eneficial Interest in 8orrower, If all or any parI of the Property or any
<br />interest in it is sold or t ratlsferred (or If a beneficial interest in Borrower is sold or transferred and Borrower is not a nat ural
<br />person) without Lender's prior wnnen (:~nselll, Lender may. at its option, require Jnlll1ediate payment m full of all slims
<br />secured by this Security Instrument. Howey'cr. tillS option shall not be exercised by Lender If exercIse is prohibited hy
<br />federal law as of the date of this Secunty Instrument.
<br />If Lcnder exercises this option, Lender shall gIve Borrower notIce of acceleratIOn. The nntlce shall provide a peTlod
<br />of not less than 30 days from the date the nOllce is delivered or mailed withm wlllch Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower filtls 10 pay these sums pnor 10 the eXptralHllI of 11115 penod. Lemler may IIIvllke any
<br />rcmedies permit led by this Secunty Instrument Without further nollce or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meets certam conditIOns, Borrower shall have Ihe nght 10 h;lve
<br />enforcement of Ihis Security Instrument dlsCOnltnued at any time prior to the earher of (11) -" day' (or ,uch III her penod a~
<br />applicable law ma}' specify for reinstlllemel1t) before sale of the ProperlY pursuallt f<} any power of sale conlallleo tn thIS
<br />Security Instrument; or (b) entry of a judgment enforcing this Secunty Inqf\llllCnl Those l"lllldlllons arc tlwl Borrower
<br />(a) pays Lender all sums whIch then would be due under thiS Secunly Instrument alld lhc Noll' had 110 lll'celcratl(ln
<br />occurred; (b) cures any default of any olher \"ovcnants or agreements; ((:) pays all e'lwlISes lIIeurreO III cllforClllg 111IS
<br />Secunty Instrument, IIlcluding. but not InTIlled to, f{';l'(,llIable atlorneys' fees, and (0) lake' such ,KllIIIl as l.l'llder may
<br />reas,mahly requlTl: 10 assure thaI Ihe hen of II1Is SCCUTlly Instrumenl, I cnder's rlj!hls III lhe Properly alld B(lrfl'Wer's
<br />obligallOn to pay the sums secured by Ihl~ Security Instrumenl shall continue ull\,hall/!ed l'poll rl'lIlslatefll"lIt hy
<br />Borrower, tIllS Senlnty Instrument and Ihe obhgulHl1IS \C(:ured herehy shall r..lIloUII fuli\ ..!fl'el"c as" l)(l ih:n'kr.llhlll had
<br />o,Turrcd Ho,,'cver. Ihls rlghl to relllstale sballnot apply In Ihe Ca'l' of ;1"lclc:r.lI"''' und... para!!ra!,'" 11.., I ~
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