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<br />-Irniia~t'r~iiired '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 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 />Inslrumenl. 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 proceeds multiplied by the following fraction: (a) the Iota] amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the laking. Any balance shall be
<br />paid to Borrower, ,
<br />If the Property is abandoned b:/ Borrower, or if, afler notice by Lender to Borrower that the condemnor olfers 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 10 restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or notlhen 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 a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender 10 any successor in
<br />interest of Borrower shall nOI 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 nOI be a waiver of or preclude the exercise of any right or remedy,
<br />11. Successors and AssillllS Bound; Joint and Several Liability; Co-signers, The covenants and agreements of
<br />this Security Instrument shall bind and benefit the sUC4;essors 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 Ihis Security
<br />Instrument but does not execute the Note: (a) is co-signing Ihis Security Instrument only to mortgage, grant and convey
<br />thai Borrower's interest in the Property under the terms of this SecurilY 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 terms of Ihis Security Instrument or the Nole without
<br />thai 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 other loan chargl:~ collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loun charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collL'Cted from Borrower which exceeded
<br />permitted limits will be refunded [0 Borrower, Lender may choose to make Ihis refund by rcducing the principal owed
<br />under the Note or by making 3 direct payment to Borrower. If a refund reduces principal, th,~ reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note,
<br />13. Legislation Affecting Lender's Rigbts, If enactment or expiralion of applicablc laws has the elfect of
<br />rendering any provision ofthc Note or lhis Security Instrumenl unenforceable according to It~ terms. Lender, at its option,
<br />may require immediate paymcnl in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permined 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 nOllce 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 rcquires use of anolher method. The notice shall be directed to Ihe
<br />Property Address or any othcr address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender'f, address stated hcrcin or any other address Lender designates by nOlice to Borrower. Any notice
<br />provided for in Ihis Security Instrument shall be deemed to have been given to Borrowcr or Lender when given as provided
<br />in this paragraph.
<br />15. Governing La...; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which thc Property is located. In thc event 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 elfecl without the conflicting provision. To Ihis end the provisions of Ihis Security Instrument and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one conformoo copy of the Note and of this Security Instrument.
<br />17. Transfer of the 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 interesl in Borrower is sold or transferrcd and Borrower is not a natural
<br />person) without Lender's prior wrinen consent, Lender may, at its oplion, requirc immcdlate payment in full of ull 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 Securily Instrument.
<br />If Lender exercises Ihis option. Lender shall give Borrower notice of acceleration, The notice shall provide a period
<br />ofnOlless than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Imtrumenl. If Borrower fails to pay these sums pnor to the expiration of Ihis penod, Lender may invoke nny
<br />remedies permined by this Security Instrument without further notice or demand on Borrower,
<br />18, Borrower's Right 10 Reinstate. If Borrower meets certain conditions, Borrowcr shall have the right 10 have
<br />enforcement ofthi5 Security Inslrument discontinued al any time prior 10 the earhcr of: (a) 5 days (or such olher pcriod as
<br />applicable law may spL'Cify for reinstalement) before sale of the Property pursuanl 10 any power of sale contained 111 rlns
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower'
<br />(II) pays Lender all sums which then would be due under this Security InSlrumenl and the Nole had no accelerallon
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses Incurred in cnforclng thiS
<br />Security Instrument, including, bUI not limited 10, reasonable attorneys' fees; und (d) takes such action as Lender may
<br />r~nably require to ll!osure that the lien of lhls Security Instrumenl, Lender', nghls In the Property and Borrower's
<br />ooliptiol'l to pay the ~um~ !!<<ured by Ihis &cunly Instrumenl shall conlmue unchanged, \.!pnn relll~tatcmclll hI
<br />8o"ower. Ihls St.-cunty InMrumenl and the obliLUltions secured hereby shall remalR fully effective II' If n<l acceleration had
<br />occurred However. thIS right 10 relnstale shall not appl)' In the ca.'e of acceleratIOn under p'''''!lrnph' 1 ~ or 1 '
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