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<br />88- 102629
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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 preiniuql~required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminatesjn accordlulce:withBorrower's and Lender's wrillen agreement or applicable law.
<br />8, Inspection. Lenderor)tsagent,may make reasonable entries upon and inspections of the Property. 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 cond~mnation or other taking of any part of the Property, 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 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 the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />the I'mount of the proceeds multiplied by the following fractioll: (a) the total amounf of the sums, secured immedi"tely
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking, Any balance shall be
<br />paid 10 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 restoralion 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 extend or
<br />postpone the due date ofthe monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10, Borrower Not Released; I'orbearanee By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrumenl granted by Lender 10 any successor in
<br />interesl of Borrower shall not operate to release the liability of Ihe 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 Ihis Securily 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 not be a waiver 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 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 Nole: (a) is co-signing Ihis Security Inslrument onl)' to mortgage. grant and convey
<br />that Borrower's interest in the Property 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 10 the terms of this Securify Instrument or the Note ",.jthout
<br />Ihat Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreled so thaI the interest or other Joan charges collected or 10 be collected in
<br />connection with the loan exceed the permitted limits. then: (a) any such Joan 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 10 make this refund by reducing the principal owed
<br />under the Note or by making a direct paymenllo Borrower, If a refund reduces principal. the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect 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 Instrument and ma~' invoke any remedies
<br />permitted by paragraph 19, If Lender exercises this option, Lender shall take the steps specified in I he second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by dell\'ering it or by
<br />mailing it by firsl class mail unless applicable law requires use of another method, The notice shall be directed 10 the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be gi\'en by
<br />first class mail to Lender's address staled 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 />m Ihis paragraph.
<br />IS. Governing Law; Severability. This Secunty Instrument shall be gO\emed by federal law and lhe law of the
<br />jurisdiction in which the Property is located, In the event that any provision or clause of lhis Security Instrument or the
<br />Note conflicts with applicable law, such conflict shaH not affect other provisions of this Security Instrument or the Note
<br />which can be given effect wilhout the conflicting prO\'lslon, To this end the provisions of this Security Instrumenl and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be g1\'en one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the ProperlY or any
<br />mterest in il is sold 01 Iransferred (or if a beneficial interest m Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior wrinen consent, Lender may, at ils optIOn, require immediate payment in full of all sums
<br />secured b)' Ihis Securlly Instrument. However, this option shall nol be CAel cised hy Lender if cverc"e " pnlhlhited hy
<br />federal law as of the date ofthisSecuritv Instrument.
<br />If Lender exercises Ihis option. Lender shall give Borrower notice of accelerallon. The nOllce shall pro\'ide a period
<br />of no I less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums sl....'ured by
<br />Ihis Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may 1I1voke any
<br />remedies permitted by this Security Instrument ",;thoul further notice or demand on Borrower,
<br />18. Borrower's Righi to Reinstate. If Borrower meets certain condillons, Borrower shall have Ihe right 1<' have
<br />enforcement of thIs Security Instrument discontinued at any time prior to the earher of: (a) 5 days (or su~h IHher period as
<br />applicable law may specify' for reinslatement) before sale of the Property pursuant to any power of ..ale l'nlltamed in tillS
<br />Security Instrument; or (b) entry of a judgment enforcmg thIS Sl"CUliIY ImtrUn1l'nl Those "Ulldmnns arc th,,1 Horrnwer
<br />fa) pays Lender all sums which then would be due under thIS Security Instmment .lI1d the '-Jn1c had no :ll'ceJeratHlII
<br />occurred; (b) cures any default of any other cosenants or agreements, (c) pays all evpe,,,e, lIlcurred In el'rl1rl'mg lh"
<br />Sc:cunty Instrument. lllcludllllt. but nOl limllcd to. reasonable al1omeys' fees, and (,II la~<" sudl actHlTI 'IS 1 ende, may
<br />reasonably reqUIre In assure that the hen of Ih" Security Inslrumen1. Lende,', r1~ht, III Ihl' Phlperl) and n"""",,,',
<br />nbhgatwn to pil~ tht ~um~ ~e,,'urcd by lhl'!l. Sccunly In~trumcnt ,hall L'tJf1IHHIt" 111ll h~ll1g{~d l p\lll Tt"IIl...\all'lllcnl b~
<br />Borrov.cr. lht, s....cunt~ In""trunlcnl and 1he ohhgatlon... ~c....urcd hefeh~ ...ha1l ['CIIl:lltl fill" dlc~ 11\ 1.." .t, II III \ .h._.. del ,111111\ hai.1
<br />Ilo:.'urrcd Hp,,-(""\(,'f. !hl'" nght to rCIn\tatc '!t.hall nc" arrl~ In lhe Ull.,t" nf ~h.:c~kra1l1111 lInder p,lr;lff;lph.. ! i ,q I ~
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