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<br />88- 102494
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shaUpay 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. '1~~,j:.:I;en4er or its agent may make reasonable entries upon and inspections of the Properly. Lender
<br />shallllv~. Borrower nOllce at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9, CoadellUUldon. 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, arc bereby
<br />assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied te the sum.c o;ccured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In :h. ~..-nl of a partial taking of the Propcny.
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by I'",; ~.;;c:;rity 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 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 tbe condemnor offers 10
<br />make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the ~ the 'lotice is
<br />given, Lender is authori'l:ed 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 otherwise agree in writing, any application of proceeds to principal shall not enc:nd or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such paymen~
<br />10, Bonower Not Releued; Forbearaace By Leader Not. Waiver. 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 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 intercst. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a wai,er of or preclude the exercise orany right or remedy.
<br />11, SIICCeI.1OrI uti AalIIPII BoIIIId; Joint ad Senral UabWty; Co-sipers. The covenants and a,grccments of
<br />this Security Instrument shall bind and bencfitthe successors and &$Signs of Lender and Borrower. SUbjeci to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall bejoint and several. Any Borrower who co-signs this Security
<br />Instrument but docs not execute the Note: (a) is co-signing this Security Instrument only to monpgc. grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personalIyoblipted 10 pay
<br />the sums !eCured by this Security Inslrument; and (c) agrees that Lender and any other Borrower may qree to extend.
<br />modify, forbear or make any accommodations with regard to the lerms of this Security Inslrument or the Note without
<br />that Borrower's consent.
<br />12. Lou CIaarpa. If the loan secured by this Securily Instrument is subject to a Jaw which SCI5 muimum loan
<br />charics, and that Jaw is linally interpreted so that the inlerest or other loan chUJcs collected or to be co1lected 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 10 Borrower. Lender may choose to make this refund by rcducill8 the principal .owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be U'CIlcd as..
<br />panial prepayment without any prepayment charse under the Note.
<br />13, Leaialadoa Afrectilll Leader'. Rip.., If enactment or expiration of applicable laws has the dect of
<br />renderin. any provision of the Note or this Security Instrument unenforceable acwrding to ils terms, Lender. at its option.
<br />may require immediate payment in full of all sums secured by this Security Instrument and may in\'oke any remedies
<br />permitted by paragraph 19. If Lender exercises this oplion, Lender shall take Ihe sleps specified in Ihe second paragraph of
<br />paragraph 17.
<br />14. Notlea. Any nOlice 10 Borrower provided for in this Securily Instrument shall be gi\'en by delivering it or by
<br />mailing it by fint class mail unless applicable law requires use of another method. The nOlice shall be directed to the
<br />Property Address or any other address Borrower designatcs by notice to Lender. Any notice to Lender shall be given by
<br />flnt class 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 Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in thi~ paragraph.
<br />15. GOl'tndlll....W; Sel't...blllty. This Security Instrument shall be governed by federal law and the law ofthe
<br />jurisdiction in which the Property is located. In the evenl that any provision or clause of this Securily Instrument or the
<br />Note connicts with applicable law, such confticl shall not affect other provisions of this Securily Instrument or the Note
<br />which clln be given effect withoul the confticting provision. To this end the provisions oflhis Security Instrument and the
<br />Note Ire declared to be severable.
<br />16. Borrower'a Copy, Borrower shall be given one conformed copy oflhe NOle and ofthis Security Instrumenl.
<br />17. Tl'IIIIIfer of the PrOJlC'rIy or . Beneficial Interest in Borrower. If all or any pan of the Propeny or any
<br />interesl in it is sold or transferred (or if a benellcial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior wriUen consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this oplion shall not be exercised by Lender if exercise is prohibited by
<br />federal law as ofthe date of this SecurilY Instrument.
<br />If Lender exercises this option. Lender shall give Borrower notice of acceleration, The notice shall provide a period
<br />of nolleu than 30 days from the date the notice is delivered or mailed within which Borrower must pay all liums secured by
<br />thiB Security Instrument, If Borrower fails to pay these sums prior to Ihe expiration of this period, Lender may invoke any
<br />rerrledies permitted by this Security Instrument withoul further nOlice or demand on Borrower.
<br />II. Borrower'. Rlpt to Relnltate. If Borrower meets certain conditions, Borrower shall have the righl 10 have
<br />enforcement of this Security Inst:~menl discontinued at any time prior to the earlier of: (a) S days (or such other period as
<br />applicable law may specify for reinstatemenl) before sale of the Properly pursuant to any power of sale conlained in this
<br />Security Instrument; or (b) entfY of a judgment enforcing Ihis Security Inslrument. Those conditions are ili.; Borrower:
<br />(a) pays Lender .11 sums which then would be due under this Security Instrument and the Nole had no acceleration
<br />occurred; (b) cures any default of any other covenantn 01' agreemenls; (c) pays all expenses incurred in enforcing Ihls
<br />Security Instrument, including. but nOt limited to, reasonable allorneys' fees; and (d) takes such aClion as under may
<br />reasonably require to assure Ihat Ihe lien of this Securily Instrument, Lender's righls in the Property and Dorro,,'er's
<br />obliption to plIy thl: sums secured by this Security Instrumenl shall continue unchanged, Upon rein st. lemen I by
<br />Borrower, this Security instrumenl and Ihe obligalions secu.red hereby shall remain fully elfecllve as if no acceleration had
<br />occurred. However, this right to reinslale shall not apply In the case of acceleration under paragraphs I J or 17
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