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<br />88-102892
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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 effect until such time as the requirement for the
<br />insurance termlriil't.es: 'jIi~c~ordari~ with Borrower's and Lender's written agreemer.t or applicable law.
<br />8.Im:jl:dlo.. ' tende,r or Its igent may make reasonable entries upon and insp<<tions of the Property. Lender
<br />shall give Borrower notice lithe time of or prior to an inspection specifying reasonable cause for the inspection,
<br />9, CondemnldoD, 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 condemnstion, 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 laking of the Propeny,
<br />unl(5s Borrower and Lender otherwise agree in writing, the sums secured by this Security 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 talUng, 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 nolice by Lender to Borrower that the condemnor otrers to
<br />make an award or settle n 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 Cf repair of the Property or
<br />to th" sums secured by this Security Instrument, whether or nN then due.
<br />l:nless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shah not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Releued; Forbearaltft By Lender Not a Waiver. Extension of the time for paymc:nt or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />mterest 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 agamst 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 interest. Any forbearance by Lender in exercising any right or remedy
<br />sha~l not be a \Q;\'er of or preclude the exercise of any right or remedy.
<br />11. Suc:ceIIon and Auilllll BoucI; Joint and Se"eral Uablllty; Co-signers. The covenants and agreements of
<br />thiS Security Instrument shall bind and benefit the successors and assIgns of Lender and Borrower, subjeetto the provisions
<br />of paragraph 17. Borrower', covenants and agreements shall be Joinl and sc"eral. Any Borrower who co-signs this Security
<br />Instrument bu.t does not execute the Note: (a) is co-signmg this Security Instrument only 10 mortgage. grant and convey
<br />that Borrower's interest in the Property under the terms of IhlS Secunty Instrument; (b) is nol personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agro:e to extend,
<br />modify, forbear or make Iny accommodations With regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />11. Loaa CIIuwa. If the loan secured by thiS Security Instrument is subjeclto a law which sets maximum loan
<br />charges, and that I... is finally interpreted so that the Interest or other Io&n charges collected or to be collected in
<br />connection witb the loan ellceed the permined Iimlt~, then: (a) any such loan charge shall be reduced by the amounl
<br />necessary to reduce the charge to the permined limit; and (b) any SUlnS already collecled from Borrower which exceeded
<br />permmed limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment 10 Borrower. I f a refund reduces prinCIpal, the reduction will be treated as a
<br />partial prepayment withou. any prepayment charge under the Note.
<br />13. l..eJisIation Afrectill& Loders Ripts. If enaclment or expiration of applicable laws has the etrect of
<br />rendering any provision of the NOle 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 Secunty Instrument and may Invoke any remedies
<br />permined by paragraph 19. If Lender exercises this option, Lender shall take the steps 5pecified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Securily Instrumenl shall be given by delivering it or by
<br />mailing it by fiBt class mall unless apphcablelaw requires ~ of another method The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notic.e to Lender shall be given by
<br />first clan mail to Lender's address stated herein or any other address Lender deslgnales by nOlice to Borrower. Any notice
<br />provided for in this Secunty Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />In this paragraph.
<br />15. GoYCnli., LaW; ~erabillty. This Secunty Instrument shall be governed by federal law and the law of lhe
<br />Junsdiction in ..hich the Property is located. In the event that an)' proVISion or clause of this Security Instrumenl or the
<br />Note confticts with applicable law, such conOict shall not street other prOVISIOns of thIS Security Instrument or the Note
<br />wmch can be given effect Wlthoutthe conflicting provision. To thiS end the provIsions of thiS Seeunty Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower', Copy, Borrower shall be given one conformed copy of the Note and of IhlS Securily Inslrumen!.
<br />17. Ynasfer of t~ Property or I 8eDeflciallnterltSt In Borrower. If all or any pan of the: Properly or any
<br />mterest in It is sold or transferred (or if a beneficial interest m Borrower IS SCI1d or transferred and Borrower IS nOI a natural
<br />person) witb"ut Lender's pnor wrinen consent. Lender may, at Its opllon, require Immediate paymenl in full of all sums
<br />secured by thiS Securil)' Instrument. However, this option shall nOI be ellerclsed by Lender if exercise IS prol,jbited by
<br />fed:rallaw as of the date of thiS Security Instrument.
<br />If Lender eurcises this option, Lender shall give Borrower nollce of acceleratIOn The nOllce shall proVide a period
<br />of not less than 30 days from the date the notice is delivered or mailed wuhin whIch Borrower must pay all !iums secured by
<br />11m Setunt, Instrument. If Borrower fails to pay these sums pnor to the ellplration of this period, Lender msy IOvoke any
<br />remedies permitted by this Security Instrument without further nollce or demand on Borrower
<br />18. JIonooWer'1 Rlpt to ReiMtate. If Borrower meets "enaln conditions, Borrower ,hall have the nght 10 ha,'e
<br />enforcement of IhlS Secunty Instrument ~iM:ontinued at any lime prior 10 the earher of: (a) 5 days (or such other penod as
<br />applicable law may specify for retnstatf>'T\ent) before sale of the Propeny pursuant to any power of sale conlalned In Ih.\
<br />s.c.:unty Instrument; or (b) entry of a J J8ment enforcln!!thls Securlly Instrument Those conditions are thai Borrov.'er
<br />(II ply. Lender all sums which the,., '. ould be due under thl~ Seeunty Instrument anll the Note had no accelcrallon
<br />occurred; (b) curCIo IIny defouh of I" ,ther covenants or atlreement" (e) pays all e:\penscs Incurred 10 enforclOS Ihls
<br />Secllnty In..rument. Includmg. but r limited to. reasonable 1I1l(lrneys' f~. and (d) lakes such action as lender ma~
<br />rellsonably reqUire to a"lure Ihal the hen of thl' Secunl) Instrumen!. Lcnder's nlOthls In the Property and Bonov.'er\
<br />c.ohaalton 10 pay the sum' loCCured by lhi; Seeunty In"rumen! shall conllnue unchllnlled Upon TClI1statement hy
<br />Borrower, thl' Stturlly In\trurnrnt and the: obhpuons sccured hereby shall remlJln fully elTccllve as .f no ncceleratlOn had
<br />occurred UOllrever, thl' nllht to mnltate shall notIlPI>I)' III the ca\c of ac'ceJerallnn under parallrDl"h\ I ~ or 17
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