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<br />88- 102785
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<br />If Len::ler required mortgage insurance as a condilion of making lhe loan secured by lhis Security Instrument,
<br />Borrower shall pay the premiums required 10 maintain the insurance in effect until such time as the requiremenl for the
<br />insurance terminales in accordance wilh Borrower's and Lender's written agreement or applicable law.
<br />S, Inspection, Lender or its agent may make reasonable enlries upon and inspections of lhe Propeny. Lender
<br />shall give Borrower notice allhe time of or prior to an inspection specifying reasonable cause for the inspeclion.
<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 Properly, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a tolal taking of the Properly. the proceeds shall be applied to lhe sums secured by this Security
<br />Instrumenl, whether or not then due. wilh any excess paid to Borrower. In the event of a partial laking of the Property,
<br />unless Borrower and Lender olherwise agree in writing. the sums secured by lhis Security Instrument shall be reduced by
<br />the amounl of the proceeds multiplied by lhe following fraction: (a) the lotal amount of the sums secured immediately
<br />before the taking, divided by (b) lhe fair market value of the Properly 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 offer; to
<br />make an award or settle a claim for damages, Borrower fails 10 respond to Lender within 30 days after the date the notice is
<br />given, Lender is authoriz~d to collect and apply the proceeds, al its option, either to restoration or repair of the Property or
<br />to lhe sums secured by this Security Inslrument. whelher or nOl then due.
<br />U nle:>s 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 paymenls referred 10 in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released: Forbearance By Lender Not a Waiver. Extension {If the time for payment or
<br />modification of amortization of the sums secured by this Securily Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operale 10 release lhe Iiabilily 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 Ihe 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 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 />lhis Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subjecl to the provisions
<br />of paragraph 17, Borrower's covenants and agreemenls shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does nol execute the Nole: (a) is co-signing this Security Instrument only to mortgage, grant and wnve}'
<br />that Borrower's inlerest in the Property under Ihe 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 othcr Borrower may agree to extend,
<br />modify, forbear or make any aceommodalions with regard to the terms of this Security Instrument or the Note without
<br />thai Borrower's consent.
<br />12. Loan Charges, If lhe loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally inlerpreted so lhat the inlerest or other loan charges collected or to be collected in
<br />conneclion with the loan exceed Ihe permitted limits. then: (a) any such loan charge shall be reduced by the amount
<br />necessary 10 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. Lendcr may choose to make this refund by reducing thc principal owed
<br />under the Note or by making a direcl payment to Borrower, If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepaymenl charge under the Note.
<br />13. Legislation Alfecling Lender's Rights, If enactment or expiration of applicable laws has Ihe effect of
<br />rendering any provision of the Note or lhis Security Instrumcnt unenforceable according to ils terms, Lender, at itsoptioll!,
<br />may require immediale payment in full of all sums secured by this SL'CurilY Instrument and may in\'Oke any remedies
<br />permiued by paragraph 19. If Lcnder exercises this option, Lendcr shall take the steps specified in the second parngraph of
<br />paragraph 17.
<br />14, Notices, Any notice to Borrower provided for in this Securily Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of anothcr melhod. The notice shall be directed to the
<br />Property Address or any other address Borrower designales by notice to Lender. Any notice to Lender shall be gi\'en by
<br />first class mail to Lender's address stated herein or uny other addrL'Ss Lender dcsignatc.s by notice to Borrower. Any nOlice
<br />provided for in this Security Instrument shall be deemcd to have been given 10 Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shull be governed by federal law and the law of the
<br />jurisdiclion in which the Property is located, In Ihe even I lhat any provision or clause of this Security Inslrument or the
<br />Note conflicts wilh applicable law, such conflicl shall not affect olher provisions of lhis Security Instrument or Ihe Note
<br />which can be given effect without lhe conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note arc declared 10 be severablc.
<br />16, Borrower's Copy, Borrower shall be given one conformed copy of the Nole and of this Security Instrumenl.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower, If all or any parl of lhe Properly or any
<br />inlerest in it is sold or transferrcd (or if a beneficial interest in Borrower is sold or lransferred and Borrower is not ,I natural
<br />person) withoul Lender's prior written conscnt, Lender may, at its option, require immediate payment in full of all sums
<br />secured by lhis Security lnslrumenl. However. lhis option shall not be eAercised by Lender if exercise is prohibit<-d by
<br />fedcrallaw as of the date of this Sccurity Instrument,
<br />If Lender excrcises this option, Lender shall give Borrower notice of acceleration. The l1<lllce shall providc a perllld
<br />"fnollcss than 30 days from Ihe date the notice is delivered or mailed within which Borrower must pay all SUIIlS sl,<'ured by
<br />this Security Instrument. If Borrowcr fails 10 pay thesc sums prior 10 the eApiration of this period, Lender may invokc an)
<br />remedies permitted by lhis SceurilY Instrument without furl her nolice or demand Oil Borrower,
<br />18. Borrower's Right to Reinstate, If Borrower meels certain condilions, Borrower shall have Ihe right 10 halT
<br />enforcement ofthi.; Security lnslrumenl disconlinued at any time prior 10 the earlier of: (a) 5 days (or such Olher pcrllld as
<br />applicable law may specify for reinstatement) before sale of Ihe Property purstwnt 10 any pOI\<'r "I' s,,1e ~ont"'ncd III Ih"
<br />Security lnstrumcnt; or (b) enlry of a judl!llIcnt enforcing this Security Instrumcnl. Those C,",dIIIOns lilT Iha\ nOIT"\\l'1
<br />(a) pays Lender all sums which then would be due under this Se<'urity Instrument IInd th,' Notc had 1111 a,'cckraI1l1n
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expens~s !lKulTed 111 l'l\rOr"'II~ Ihl'
<br />Security Imtrumenl. indUlhng. but not limited In, reasonable altol'lley' rees; lInd (dl tah', 'lIdl a~llIll' 'IS ll'lIlkl n1l1l
<br />rea"JI1ubly require to assure Ihat Ihc lien of tillS Security Instrument. I.l'nder', rights In the "WP"rll a"d 11.,,,,,,,,,, ,
<br />obhgul1on to pay the ,urn' secured hy thIS Security Instrument ,hull l't'ntlnue \!lI,hlln~"" t'p"" '''"1"a'l'l1'''"' 11\
<br />Borrower, ,1m Security Instrument lInd IIF' "bhgutions ,cl'IHed herehy ,hllll n'''llllnl"lI~ dk,'I,\<' ," ,\ '''' ,h, ,'1"10"'0" had
<br />occurred I 10\\ ","cr. this righl to rC1I1slate shull not apply Inlhe ,'a'" or 1I,Cl'lclllllill' undn I'a' a~'lIph, 11", I'
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