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<br />88- 102292
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<br />If Lender required mongage 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 IWcordance with Borrower's and Lender's written agreement or applicable law.
<br />8. lupection. Lender or its agent may make reasonable entries upon and insp.lCtions of the propeny. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemution. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any pan of the Propeny, 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 Propeny, 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. [n the event of a panial taking of the Propeny,
<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 Propeny immediately before the taking. Any balance shall be
<br />paid 10 Borrower.
<br />If the Propeny 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 within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Propeny 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; Forbeanmce By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amonization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to rell"a5e the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings ogainst any successor in interest or refuse to extend time for
<br />payment or otherwise modify amonization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successon 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. SUCl:eIIlOTS and AuillDl 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 be joint 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 mongage, grant and convey
<br />that Borrower's interest in the Propeny under the terms of this Security 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 this Security Instrumenl or Ihe Note without
<br />that Borrower's consent.
<br />12. Loan Cbaraes. 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 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 />penial prepayment without any prepayment charge under the Note.
<br />13. Lqi.lation Aft'ectinll Lender's Ripts. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable occording 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 this Security Instrumenl shall be given by delivering il or by
<br />mailing it by fint c11155 mail unless applicable law requires use of another method. The notice shall be directed 10 the
<br />Propeny Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first clll5s 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 Jnstrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governinll Law; Sel'erability, nlis Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Propeny is located. In the event that any provision or clause of this Security Instrumenl or the
<br />Note confticts with applicable law, such conftict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrumenl and the
<br />Note are declared to be severable.
<br />16. Borrower'. Copy. Borrower shall be given one conformed copy oflhe Note and of thiS SecurilY Inslrument.
<br />17. TraDlfer of tbe Property or a Beneficial hiterest in Borrower. If oil or any part of the Property or any
<br />mterest in it is sold or transferred (or if a beneficial interest in Borrower is sold or Iransferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immedlale 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 />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of accelerallon. The nOllce shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within winch Borrower musl pay oil sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior 10 the expIration of lhi~ penod, Lender may Invoke any
<br />remedies permiued by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower'. R1p~ to Reln.tate. If Borrower meets cenam condillons, Borrower shall hoye the nght 10 haye
<br />enforcement of this Security Instrument discontmued at any lime pnor to Ihe earlier of: (a) 5 doys (or such other penod a~
<br />applicable law may specify for reinstatement) h-:fore sale of the Property pUTSllont to ony power of sale con tamed 111 Ihls
<br />Security Instrument; or (bl enlry of a Judgment enforcmg this Secunty Instrumenl Those condlllon~ are thol Borrower:
<br />(a) pays Lender all sums whIch then would tle due under Ihis Securily Instrument ond the Nole had no acceleratIOn
<br />occurred; (b) cures any default of any olher covenants or agreements: (c) poys all expenses Incurred In enforcln8 thl~
<br />Seeunty Instrument. Includmg, bUI nOI limned 10. reasonable altorney" fees; and (d) lakes ~uch acllon n~ Lender may
<br />rCll50nably require to assure thol the lien of Ihls Security Inslrument, Lender', nllht~ In the I'ropeny Ilnd IJnrrnwer',
<br />obligatIOn to pay Ihe sums !lCcured by [hiS Secunty Instrumenl shall canllnue unchanged Upon rell1Slalemenl hy
<br />8onower, IhlS Security Instrument and the obhgallons secured hereby ~holl remam fully effecllye as If no eccelerallnn hud
<br />occurred, Howeyer. Ihls nghlto remMate shall nOlopply In Ihe case of accelerallon under parngraph, 1 J or 17
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