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<br />88- 102533
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<br />If Lender required mortgage 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 elfecl until such time as the requirement for the
<br />insurance lerminales in accordance wilh Borrower's and Lender's written agreement or applicable law,
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of Ihe Properly, Lender
<br />shall give Borrower notice atthe time of or prior to an inspeclion specifying reasonable cause for the inspection,
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequenlial. in connection with
<br />any condemnation or olher taking of any pari of the Properly, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender,
<br />In the event of a lotaltaking of the Property, the proceeds shall be applied 10 the sums secured by this Securily
<br />Inslrument, whether or notlhen due, with any excess paid to Borrower, In Ihe event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrumenl shall be reduced by
<br />the amount of lhe proceeds mulliplied by the following fraclion: (a) the total amount of the slims 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, arrer notice by Lender to Borrower that the condemnor offers to
<br />make an award or sellle a claim for damages, Borrower fails 10 respond 10 Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply lhe proceeds, at ilS oplion, eilher to resloration or repair oflhe Propeny or
<br />to the sums secured by this Securily Instrumenl, whether or not then due,
<br />Unless Lender and Borrower otherwise agree in writing, any applicalion of proceeds to principal shall not extend or
<br />postpone the due date of the monthly paymenls referred to in paragraphs I and 2 or change the amount of such payments,
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument gran led by Lender to any successor in
<br />inlerest of Borrower shall not operate to release the liabilily of the original Borrower or Borrower's successors in interesL
<br />lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />paymenl 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 interest. Any forbearance by lender in exercising any right ,or remedy
<br />shall nOI be a wai\'er of or preclude the exercise of any right or remedy,
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this Security Inslrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pro\'isioDS
<br />of paragraph 17, Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Securily
<br />Inslrument but does not execule the Note: (a) is co-signing this Securil)' (nslrument only to mortgage. grant and conve)'
<br />Ihat Borrower's interest in the Property under the lerms of this Security Instrument; (b) is not personally obligated to pay
<br />Ihe sums secured by this Security Instrument; and (c) agrees that lender and any other Borrower may agree (0 extend.
<br />modify. forbear or make any accommodalions with regard 10 the terms of this Security Inslrument or the NOle ~'ithout
<br />thai Borrower's consent,
<br />lZ. Loan Charaes. 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 thai the interL'St or other loan charges wlleeled or 10 be collected in
<br />connection with the loan exceed the permiued limils, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge 10 the permiued limit; and (b) any sums already collected from Borrower which exceeded
<br />permilled limits will be refunded 10 Borrower, Lender may choose 10 make this refund by reducing lhe principal owed
<br />under the Note or by making a direct payment 10 Borrower, If a refund reduces principal. the reduction will be trealed as 8
<br />parlial prepayment without any prepayment charge under the NOle,
<br />13. Legislation Affecting Lender's Rights. If enactment or expiralion of applicable laws has the elrect of
<br />rendering any provision of the 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 Inslrument and may invoke any remedies
<br />permiued by paragraph 19, If Lender exercises lhis option, lender shall take Ihe steps specified in Ihe second pamgraph of
<br />paragraph 17,
<br />14. Notices. Any nOUce to Borrower proVided for In thiS Securily Instrument shall be given by delivering at or b~'
<br />mailing il by firsl class mail unless applicable law requires use of another melhod, The notice shall be directed 10 the
<br />ProperlY Address or any other address Borrower designates by notice 10 lender. Any notice to Lender shall be gi.'en b)'
<br />first class mail 10 lender's address stated herein or any other address lender designales by notice to Borrower, Any nollee
<br />provided for in Ihis Security Instrument shall be deemed to have been gl.'enlO Borrower or Lender when gi.'en as prm'ided
<br />in lhis paragraph,
<br />J5. Governing La"" Severability. ThiS Securuy Instrument shall be governed by federal law and the law of the
<br />Junsdlcllon in which the Propeny is located, In Ihe event Ihat any pro\'islOn or clause of this Secunly Instrument or the
<br />NOle conllicts with applicable law, such conflict shall not alfecl other provisions of this Secunly Instrument or Ihe Note
<br />whIch can be given elfecl without Ihe conflicting provision, To lhis end lhe provisions oflhis Security Instrumenl and Ihe
<br />NOle are declared 10 be severable,
<br />J6. Borrower's Copy. Borrower shall be glv'en one .:onfonncd t'OP} of the Note and Oflhls Sccunly loslrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or nny pari of the Properly or any
<br />IntereSl In It is sold or Iransferred (or if a beneficial interesl in Borrower is sold or transferred and Borrower is nol a natural
<br />person) without Lender's prior wrillett consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured b)' Ihis Security Instrument, However, Ihis option shall not be exerCIsed by Lender if exercIse is prohibited by
<br />federal law as of lhe date of this Security Instrument.
<br />I f lender exercises this option, Lender shall gIve Borrower nollce of accelerauon The notice shall provide a penod
<br />of nOlless than 30 days from lhe dale the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />lhis Security Instrumenl. If Borrower fails to pay these sums prior to the expiration of Ihis period, lender may invoke any
<br />remedIes pc:rmilled by Ihis Security Instrument wilhout further notice or dcmand on Borrower
<br />J8. Borrower's Right to Reinstate. If Borrower meets certain condni'1l1s. Borrower ~hall have the right to have
<br />enforcemenl oftlllS Security Instrument discontinued at any time prior 10 Ihe earher of: (8) 5 days (or such other l'eTllld as
<br />apphcable la," may speCify for reinstatement) hefore sale of the I'roperly pursuant ((1 :111)' 1'''"C1 of sale Cl'IH.1IDcd m lhlS
<br />Seeurll) Instrument: or (b) enlry of a Judgment enforCing thiS Security Inslrumt'nt Th"se Lundlll"llS are that nl'rn'"TI
<br />(n) pays Lender all sums whil'h then would he dtle tlndel tIllS Sceullty In'tHlrtlenl lIlIll the Nutr Illld n,' ''''l'rlcrat,,,,,
<br />occurred, (b) rures any default of any other cmcnlUllS or nglcemcnts, IC) pays nil t'~r"nst'S lIll'tlned III cnfl'rl'lIl~ Ih"
<br />Serumy Instrumenl, mcluding, but nnt Iimlled In, fensnnable al1orneys' recs, lInd (d I takes Stich lIel"'" AS L('nd('r Illay
<br />f'C1Jt..OIH1hl, ri'~\Jl"{, tn l1~"lIrr thai Ihr lien llr ttllo;, "'{"runl~ I nlootrUfllCnt , lender', rq.'!hl'" 11\ th(. "T\lPt"Tt\ and Bf'llf'll\q:',',
<br />ohll~allfln 10 p;i~ thr ~\Hn'" "-("lured h, II\!\ ~l'lU'"~ IU"ittuTut'nl ~hnll CC'Ulf,nut: u'h.:h;III~I'd \ '1'1lf1 1l"1Il\tnlrl1u'nl ~\
<br />BOfrcn,I.t"r Iltl' Sc~curlt) II1"ltUltH."llll\nd ,11f~ I1hllf,)lIIOfl'" ",ecuH"d hcrrb~ "hall trrnam f\ll" dh"l Int':\'o II HI' al..lC'lrrntll\1l h:.d
<br />')tcurled Ilo"f'el, 11m nghllo 1(,1lI\lale \~IlII1I1"1 al'l'l~ III Ihe lase of atTclr'lllll'll uude! I'nragflll'lrs 1'< '" I"
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