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<br />88-101838
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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 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
<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 consequenlial, 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 e\'ent 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 otTers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 da)'s after the date the notice is
<br />given, Lend~r 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 By Lender Not a Waher, 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 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 ~ a waiver of or preclude the exercise of any right or remedy.
<br />11. SIltteS5OI"5 and Assigns Bound; Joint and Several Liabilit)"; 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 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 ofthis Security Instrument; (b) is not personall)' 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 Instrumem or the Note without
<br />that Borrower's consent,
<br />12. Lou <..laarKes. Uthe loan secured b}' 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 permined limits, then: (a) any such Joan 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 ma}' choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. lfa refund reduces principal. the reduction will be treated as n
<br />panial prepayment without any prepayment charge under the Note.
<br />13. Lqislatioll Afrft'ting Leader's Ripts. If enaclment or expiration of applicable laws has the etTect of
<br />rendering any prO\ision of the Note or this Security Instrument unenforceable aCCOrding to its tenns, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedics
<br />permitted by paragraph 19. If Lender exerdses this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notires. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or hy
<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 Lenderdesignatcs by notice to Borrower. Any notke
<br />prO\'ided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when gi\'en as provided
<br />in this paragraph.
<br />15. Goyemial LaW; SeYerabilit),. This Security Instrument shall be go\'erned by Jederallaw and the Jaw of the
<br />jurisdiction in which the Propeny is located. In the e\'enl that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting prO\'ision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be scverable.
<br />16. Borrower'. CopY. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Trusfer of tlse Property or a Beneficial Interest in Borrower. If all or any part of the Property or an)'
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) ~ithout Lender's prior written consent, Lender may, at its option, require immediatc payment in full of all Sllms
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited b)'
<br />federal law as of the date ofthis Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration, The notice shall provide a pcriod
<br />of not IC!s than 3Oda)'s from the date the notice is deli\'ered or mailed within which Borrower muM pay all sums seclIn.-d hy
<br />this Security Instrument. If Borrov.'er fails to pay these sums prior to the expiration of this period, Lender rrlllY invoke any
<br />remedics permitted by this Security Instrument without further notice or demand on Borrower.
<br />'1. Borrower'. Ript to Rtiastalt. If Borrower meets certain conditions, Borrower shall have the right to ha\'e
<br />enforcement ofthi!i Security Instrument discontinued at an)' time prior to the earlicr of: (a) 5 days (or such other pcriod as
<br />applicabldaw may specify for reinstatrment) before sale of the Property pursuant to any power of!.ale rontainl'tl in I his
<br />Security Instrument; or (b) entry of a judgment enfon;ing this Srcurity Instrument. Those conditions are that Borrower:
<br />. (a) pays Lender all sums which then would be due under this SecurilY InMrument andihe Note had no acceleration
<br />,occuned; (b) curcs any default of an)' other cO\'cnants or agreements; (c) pa)'s all expenses incurred in enforcing this
<br />Security Instrument, including. but not limiled to, rca<,Qnable attorneys' fees; and (d) lakes such action as Lender Illay
<br />reasonably rtquire to assure that the liell of this SC\"urity Instrument, Lender's rights in the Property and Borrower's
<br />obligation 10 pIly the sums4itturro by thl\ SC1.:urity Instrument shall continue unchanged. Uptm reinMlIlcrnenl by
<br />Borrower. this Securit)' In..trument and I he: oh!lgalinns ,"ccured hereby ..hall remain fully effective "!>If no acceleratioll had
<br />occurred. Hov.'c\.cr, Ihis right to rem..tatr ,hall nOlllppl)' III the ca\c of IScceler;tllon under paragr.lrh~ 13 or 17
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