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<br />88- 102445
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borro.~er ~hall.pay the premiums required to maintain the insurance in effect until such time as the requirement for ~he
<br />insi,Jrance.tenninates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />;.'. lnipeetion~" Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shllUgive BOiro!e,r .noticeat the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />... '" 9; CODclemnation. The proceeds of auy award or claim for damages, direct or cllnsequential, in connection vith
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnatior.. "., :.(;,~y
<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 event of a partial taking of ilie Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument sba1J 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 sba1J be
<br />paid to Borrower.
<br />If the Property 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 Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower othl':rwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the dlle date of the monthly payments referred to in paragraphs] and 2 or change the amount of such payments.
<br />10. Borro"er Not Releued; Forbearance By Leader Not. Waiter. 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 successor.; 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 amonization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successol'li in interest. Any forbearance by Lender in Cllercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. SaccaIon IIIId AssiIDl Bouad; Joiat ad SeftftJ Liability; Co-sillllerL The COVenants and agreements of
<br />this Security Instrument shall bind and benefit the successor.; 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 c:o-signs this Security
<br />Instrument but does not execute the Note: (a) is c:o-signing this Security Instrumeill only to mortgage. grant and convC')'
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pa}'
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may qn:e to extend.
<br />modify, forbear or make any accommodations with regard to the tenus of this Security Instrument or the Note ..ithout
<br />that Borrower's consent.
<br />11. Lou CIaarteI. 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 tbe amount
<br />necessary to reduce the charse to the permitted limit; and (b) any sums already collected from Borrower which <<c:ceded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reduCIng the principal ~'ed
<br />UDder the Note or by makinsa direct payment to Borrower. If a refund reduces principal. the reduction .'iII be trealed as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13, LepslatioD AJrectiq Leader'. Riabll. If enactment or Cllpiration of applicable laws has the dfCCl of
<br />rendering any provision oflhe 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 this Security Instrument and may iR\'oJr.e an}. remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take tho: steps specified in tbe second puagnph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security [nstrument shall be gi\'en by dcli\'ering it or by
<br />mailing it by first class mail unless applicable law requires use of another method, The notice shall be directed to the
<br />Propeny Address or any other address Borrower designates by notice to Lender, Any notice to Lender shall be given b}'
<br />fir.;t class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. An}' nOllce
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as pro\ojded
<br />in this paragraph.
<br />15. GoYernIaa laW; SeYerablllty. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located, In the event that any provision or clause of this Secunly Instrument or tbe
<br />Note conflicts with applicable law, such conflict shall not aft'eet other provisions of this Security Instrument or the Note
<br />which can be given eft'ect without the conflicting provision, To this end the provisions of this Securit}' Instrument and tbe
<br />NOle are declared to be severable,
<br />16. Bomnrer'. Copy, Borrower shall be given one conformed copy of the NOle and of this Security Instrument.
<br />17. Tl'UlIfer of the Property or a Beneficial Interest In Borrower. If all or any part of the Property or any
<br />inlerest 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) without Lender's prior written consent. Lender may, at its option. require immediate payment in full of all sums
<br />secured by this Security [nstrumenl. However, this option shall nOI 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 acceleration, The notice shall provide a period
<br />of not less thlll 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. [fBorrower fails to pay these sums prior t":' the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower,
<br />III. Borrower's RIp. to Reln.tate. If Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement or this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />appliC&ble law mlY specify for reinstatement) before sale of the Propeny pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security [nstrumenl. Those conditions are that Borrower:
<br />(I) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenanls or agreements; (c) pays all expenses IDcurrcd ID enforclDg Ihls
<br />Security Instrument. includin,. but not limited 10, reasonable allomeys. fccs; and (d) lakes such aCllon as Lender may
<br />reasonably require to assure that the lien of Ihis Security Instrument, Lender's nlhls ID the I'ropeny Bnd 8orrower\
<br />obligation to pay the sums !IoCCured by thiS Security Instrumenl shalI ("ontmu. unchanlled Upon relllslalement hy
<br />Borrower. this Security InMrument and the obligallons secured hereby sh,,:i rem~1n fully elfccl1\'c.. If no Bcceleral10n had
<br />occurred, However. this rillht to reinstate shall not apply 10 the case of acceleral10n under pBrBllraph. ) ~ or 17
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