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<br />88-102268
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<br />If Lender required mortsaae 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 elf'ect until such time as the requirement for the
<br />insurance terminates in ICCOrdance witb Borrower's and Lenclcr's written agreemenl or applicable law.
<br />8. lupectloa. Lender or its agent may make reasonable entries upon and inspections of Ihe Property. Lender
<br />shall give BorrowerJlOtK:e at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9, C~"I lDadoII. The proceeds of any award or claim for damages, direcl 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 10 the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a panial taking of the Propcny,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the amounl of the proceeds multiplied by the following fraction: (a) the lolal amounl 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 olf'ers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender wilhin 30 days after Ihe date the nOlice 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 sumslCCured oy Ihis 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 Releued; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modillcation of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interelt of Borrower shall not operate 10 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 olherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the oriainal Borrower or Borrower's sUCCCllSOrs in interest. Any forbearance by Lender in exercising any righl or remedy
<br />shall nOI be a waiver of or preclude the ellercise of any right or remedy.
<br />II, s.cc-n uti ARIpa 8ouDd; Joiat ud Several Uabllity; Co-sipers, The covenants and agreements of
<br />this Security Instrument shall bind lUId benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of parqraph 17. Borrower's covenants and agreements sball be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co-signing tbis Security Instrument only to mortgage, grant and convey
<br />that Borrower's interelt in the Propcny under tbe terms of this Security Instrument; (b) is not personally obligated to pay
<br />tbe SURllleCured by this Security Instrument; and (c) agrees tbat Lender and any other Borrower may agree to extend,
<br />modify, fOltlear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />11. Lou 0IIrps. If the loan secured by tbis Security Instrument is subject to a law which sets maximum loan
<br />chUJC5. and that law is finally interpreted so that tbe interest or other loan charges collected or to be collected in
<br />connection witb the loan uceed tbe permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />nccasary to reduce the cbarae 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 tbe Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be trealed as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. . ......dolt AffectUta LeIIder's Rlaltll. If enactment or expiration of applicable laws has the elf'ect of
<br />rendering any provision of Ibe 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 tbis Security Instrument and may invoke any remedies
<br />permitted by paraarapb 19. If Lender Cllerciscs this option, Lender shall take the steps specified in the second paragraph of
<br />paragrapb 17.
<br />14. Notlces. 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 metbod. The notice shall be directed to the
<br />Property Address or Iny other address Borrower designates by notice to Lender. Any nOlice to Lender shall be given by
<br />, tint class mail to Lender's address stated berein or Iny other address Lender designltes by notice to Borrower. Any notice
<br />provided for in tbis Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paraarapb.
<br />13, GoYendq Law; Sevenllllity. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which tbe Propeny is located. In tbe event that any provision or clause of this Securily Inslrument or the
<br />Note conflicts witb applicable law, such conflicl shall not aft"ect other provisions of this Security Instrument or the Note
<br />wbich can be given clI"ect without the conllicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's 0.,-. Borrower shill be given one confonned copy of the NOle and of this Security Instrument.
<br />17. TI'UIIer of tile Property or a Beaelleialllltevest fa Borrower, If all or any part of the Property or any
<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 />penon) without Lender's prior written conscnt, Lender may, at its option, require immedilte 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 />fcderalla.....II ofthc date of this Security Instrument.
<br />If Lender ClleI'cises this option, Lender shall give Borrower nolice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within whicb Borrower 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 Iny
<br />remedies permitted by tllil Security Instrument ....ithout funher notice or demand on Borrower.
<br />I'. aan-"s RIPt 10 Rei...... If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforc:emcnt of this Security Instrument diKontinued at any time prior to the earlier of: (a) 3 days (or such other period as
<br />applicable law may lJIIlCify for reinstatement) before sale of the Property pursuant to any power of sale contlined in this
<br />Security Instrument; or (b) entry of a judgment enforcinlJ tbis Security Instrument, Those conditions arc thai Borrower:
<br />la) pays Lender aU IUms which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or qrccments; (c) pa)'!! all Cllpenscs incurred in enforcmgthls
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such .c!lon as under may
<br />reaonalJly require to _ore that the lien of this Security InSlrutnellt, under's rights in the Property and Barrowc:r's
<br />obIiption to pay the sums secured by this Security Instrument shall continue unchlnged, Upon rcm~talement by
<br />1Jorrower, this Security Instrument and the obliptionslCCured hereby shall remain fully elI'ectlve 115 If no acceleration had
<br />occurred. However, this right to rrinstate shall not apply In the case of acceleration under paragraphs 1.1 nr 17
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