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<br />88-
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<br />101801
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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 the insurance in etTect 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
<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 Of 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 proceed~ 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 i'roperty 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 settle a claim for damages, Borrower fails to respond to Lender withi!l 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, eit her to restoration or repair of the Property or
<br />10 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 Released; Forbearance By Lender Not a Wah'er, Extension of the time for payment or
<br />modification of amortization of the sums secured by thi~ 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 ~uccessor 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 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 <Igreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but docs 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 In~trument; and (c) agrees that lI.~nder 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 sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or otha 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 permitted limit; 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 reducing 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 applicable laws has the 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 />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 provided for in lhi!> 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 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 other address lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have 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 federal law and the law of the
<br />jurisdiction in which the I'roperty is located. In the event that any provision or clause of this Security Instrument or the
<br />Note connicts with applicable law, such contlict shall not atTect other provisions of this Security Instrumelll or the Note
<br />which can be gi\'cn effect without the conflicting provision. To this cnd the provisions of this Security Instrument and the
<br />Note are dedared In be seYerabll'.
<br />16. 80rro...er's COP)'. norrower shall be given one conformed copy of the Note and of this Security I nstrumcnt.
<br />17. Transfer or the Property or a Beneficial Interest in Borrower. If all or any part of the ProperlY or allY
<br />interest in it is sold or lran~ferred (or if a beneficial interest in Borrower is sold or transferred and Borrower IS not (I nalllral
<br />person) Wllhout Lenllcr's prior written l'onsent, Lender may, al its option, require immediate payment in full of all sums
<br />secured b)' this Sccurit)' Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercihcs this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than JO days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument, If Borrower fails to pay these sums prior to the expiration of this paiod, Lender may invoke any
<br />remedies permiued by Ihi!> Security Instrument without flirt her notice or demand on Borrower.
<br />18, Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall ha\'e the right to ha\'e
<br />enforcement of this Security Instrument discontinued at any lime prior to the earlier of: (a) 5 days (or such olher period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contamed in I hi~
<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 lhe Nole had no accelcration
<br />OCcurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in cnrorelllg tillS
<br />Security Imtrumellt, Including, but not Iimiled to, reasonable attorneys' fees; and (d) takes such action as Lcnder lI\ay
<br />rcaronably require to assure that the lien of thiS Security Instrument, Lemler's fights III the Propl'rty and Borrower's
<br />obligation to pay the sums ..ecured by this Sl'Curity Instrument shall continue unchanged. Upon reinstatcmcnt by
<br />8orro'oa.'er, this Security I Ilstrument and the obligations 'il'cured hereby !>hall remain fully eJl"Ct.II\'C as if nil accderalltll) had
<br />occurred, However, I Ills right 10 relnslatc .."aU not apply in Ihe cllse of aeeder.ltlOn under paragraph.. I_lor 17
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