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<br />88- 102442
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<br />u' 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 eWect until such time as the requirement for the
<br />insurance temlinates in accordance with Borrower's and Lender's wrillen agreement or applicable law.
<br />8. Inspec:tion. Lender or its agent may make reasonable entries upon and inspections 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. 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 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 laking of the Property, the proceeds shall be applied to the sums secured by this Se.;,,, .,)'
<br />Instrument, whether or not then due, with any ext:ess paid to Borrower. [n the event ofa partial taking of the Propt" ,
<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 balanceshaIl be
<br />paid to 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 Propenyor
<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 1 and 2 or change the amount of such paymenlS.
<br />10. Borrower Not Releued; Forbearance By Lender Not. Waiver. Extension of the time for payment or
<br />modification of amonization of the sums secured b)' this Security Instrument granted b~' Lender to an~' 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 10 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 an~' demand made
<br />by the original Borrower or Borrower's successors in interest, Any forbearance by Lender In exercismg any rit:.ht or remedy
<br />shall not be a wlllver of or preclude the exercise of any right or remedy.
<br />11. SUCc:ellOl'S and AlIi.... Bound; Joint and Several Liability; Co-signers. Tne co\'enants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and BorrolA'er. subject to the pro\lsions
<br />of paragraph 17, Borrower's covenants and agreements shall be joint and several. Any Borrower who ro-signs this Securit~,
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to monga(!.t., grant and con,'~'
<br />that Borrower's interest in the Propeny under the terms of this Security Instrument; (b) is not personall~' obligated topa~'
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and an~' other BorrolA'er may agree to c:uend.
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the NOle \\;thout
<br />that Borrower's consent.
<br />1::. Lou CIuIrJa. If the loan secured by this Securit~' Instrument is subject 10 a law whIch sets maximum 10llIl
<br />charges. and thllt 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) lIny such loon charge shall be reduced by the aJD(!IUnI
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permilled limits will be refunded to Borrower, Lender may choose to make this refund b~' reducing the principal OlA'ed
<br />under the Note or by making a direct payment to Borrower. If II refund reduces principal. the reduction will be noted as;II
<br />partial prepa)'ment without any prepayment charge under the Note,
<br />13. l.egillatlon Aft'ecting Lender's Rights. If enactment or expir:uion of applicable laws has the effect of
<br />rendering any pro\'ision of the Note or this Security Inslrument unenforceable according to Its terms. Lender. at its oplion.
<br />may require immediate payment in full of all sums secured by Ihis Secunty Instrument and may m\oke any remedies
<br />permilled b)' paragraph 19. If Lender exercises this option. Lender shall take the steps specIfied in the second para(!.raplt of
<br />paragraph 17,
<br />14. Notices. Any notice to Borrower provided for in Ihls SI.'Curlty Instrument shall he 81\'1..'11 by dcll\'ering it aT b~'
<br />mailing it by firS! class mail unless apphcable law requires use of anOlher method, The nOllce shall be directed to tbe
<br />Property Address or any other address Borrower designates by nOllce to Lender Any nOllce 10 Lender shall be gi.'c:o by
<br />first class mail to i.ender's address staled herein or any other address Lender designates by nollce to Borrower. Any' notice
<br />provided for in this Security I nstrument shall be deemed to have been given 10 Borrower or Lender when gl\'en as pro.-ida!
<br />in this paragraph.
<br />IS. Go,emlng Law: Sevel'llhllity. This Security Instrument shall be go\'emed by federal law and the law of the
<br />Jurisdiction in which the Property is located, In Ihe event thai any proVISion or c1at'se of Ihis Securit~. Instrument or the
<br />Note conflicts wilh applicable law, such conflict shall not affect other proviSions of Ihis Security Instrumenl or the NOle
<br />which can be given eWect without the conflicting provision, To this end the provisions of this Security Instrument and the
<br />Note are declared to be sc:verable,
<br />]6. Borrower's Copy. Borrower shall be given one conformed copy of the NOle and of thIS Secunty Instrument.
<br />17. Tl'lUlSfer of tbe Property or a Benefidal Interest in Borrower. If all or any pan of the Propen~ or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower IS nOl a natural
<br />person) without Lender's prior wrillen consent, Lender may, at its oplion. reqUIre immedlale payment In full of all sums
<br />secured by this Security Instrument. However. this option shall not be exerCised hy Lender If exerCIse IS prohihlted h~
<br />federal Low as of the: date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower nolice of acceleratIOn. Thc nOlleI.' shall pnn-Ide a penod
<br />of not less than 30 days from the date the notice is delivered or mailed withlll which Borrower must pay all sums SI."Curcd h~
<br />this Securily Instrument. If Borrower falls 10 pa~' thL'Se sums prior to the expiration of thiS period, Lender may l11\'olo;e an~'
<br />remedies permitted by thIS Security Instrumenl wllhout funher notice or demand on Borrower.
<br />18. Borrower's RllI:ht to Reinstate. If Borrower meets cenain C".T1dUlOnS, Borrower shall havc the rI!!ht 1<' havc
<br />enforcemem oflhls Security InSlrument discontinued at any lime prior to the earher of (0) ~ clays (or such other penod as
<br />applicable law may specify for relllstatemenl) before sale of the Property pursuarll 10 any POWCI' of sai<- conlalnt-d In II1Is
<br />Security Instrumelll, or (h) cnlry ofuJudgmcnt enforcmg IhlS Securll)' Instrument Thosc condull'ns arc Ihal Rnrrower
<br />(a) pays Lender all sums which lhen would he due under this Secuflty Instrumenl and Ihc Nnlc hlld no acCcleTlIl1<ln
<br />occurre:d; (b) cures any deflluh of any othe:r covenants or agreemcnts; Ie) pays all c~penscs Incurred III ('nf"I'<'Ill!! Itlls
<br />Securlly Inslrume:nl, mcJUdllll!, bUI not hmlled 10, reusonablc allomeys' fces, IInd (dllalo;es sllch IIcIIO" as I t'"dcr ma~
<br />reasonably reqUire: 10 assure thllt the hen of lius Security Instrumen\, Lcnder', r1!!hts In lht' I'rnpen~ and IInnnwt'I"
<br />dbh/Ulllon to pay Ihe "urns sccure~ hy IhlS Security Instrument shall continue lI"Chlll1gcd t'pnn n"n,la1<'l11t'nl ,,,
<br />lk.rrowcr, III" Se:t'UrllY Instrument and the ohhgatlons secured hcrch~ ,halll'e:mlllll rully elTel' I 11 (' as Ii nOllt'<'(.lel :If..", had
<br />nccllrr~d Ho....ever, IhlS right tn re:IllSlale shllll nOlap!,ly 111 the <.:a'r (If il<'t:d<."" I I"', IllHkr pa''''''''l'h, J ; '" I ~
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