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<br />88- 1 0299r~
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<br />If Lender required mortgage insurance as a condition of making lhe loan secured by Ihis Security Instrument,
<br />Borrower sh!lll pay the premiums required to main lain Ihe insurance in effecl until such lime as the requirement for Ihe
<br />insurance terminates in ac.:ordance wilh Borrower's and Lender's written agreement or applicable law.
<br />8, Inspection. Lender or its agel'll may make reasonable entries upon and inspections of th.: Properly. Lender
<br />shall give Borrower notice al the time of or prior 10 an inspeclion 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 condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, arc hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a totaliaking of Ihe Property, the proceeds shall be applied to the sums secured by this Securily
<br />Instrument, whether or notlhen due, with any excess paid to Borrower, In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree m wriling, Ihe sums secured by this Security Instrument shall be reduced by
<br />the amoun! of the proceeds multiphed by the following fraction: (a) lhe total amount of the sums secured immediately
<br />before Ihe taking, divided by (b) the fair markCI value of the Properly immediately before the taking. Any balance shall be
<br />paid 10 Borrower,
<br />If the Property is abandonc::d by Horrowcr, or if, after notice by Lender to Borrower thai lhe condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after lhe date the notice is
<br />given, Lender i" authorized to collcct and apply the proceeds, at its option, cilhcr to restoration or repair of the Property or
<br />10 the sums secured by this Security Instrument, whether or not then due,
<br />Unless Lender and Borrower <ltherwise agree in writing, allY application of proceeds 10 principal shall not extend or
<br />postpone the du~ date oflhe monthly payments referred 10 in paragraphs I and 2 or changc lhe amount of such payments.
<br />10. Borrower Nol Released; Forbearance By Lender ~ol a Waiver. Extension of lhe lime for payment or
<br />modificallOn of amortization of lhe sums secured by this S~'CufllY Instru:nenl granlcd by Lcnder to hllY successor in
<br />In!cr'est of Borrower shall not operale to release the liabilily of Ihe ongmal Borrower or Borrower's successors in interest.
<br />Lcnder shall not be required to commencc proceedings against any SUCCl'SS<lr in inleresl or refuse to exlend time for
<br />payment or OIherwlse modify amortizallon of the sums secured by this SecufIlY Instrument by reason of any demand made
<br />by' the ori~inal Borrower or Borrower's successors m interest. Any forbearance by Lender in exercising any right or remedy
<br />~hall nOl be a waiver of or preclude the exercise of any righl or reMcdy,
<br />H. Successors and Assigns Bound; Jolnl and Several Liability; Co-signers. The covenants and agreements of
<br />tlll~ Secunly Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subjcctlo the provisions
<br />ofpar'lgraph 17 B(lrrower\ co\'enants and agreements shall beJoinl and several. Any Borrower who co-signs Ihis Security
<br />Imlrurncnl but does nOI execUle Ihe NOle: (a) is co.signing lhis SccurilY Instrument only to mortgage, gram and con\'ey
<br />Ihat Borfllwer\ I/lten:s; in lhe Property under Ihe terms of thiS Sccurny Inslrumenl; (b) I~ not personally obligaled to pay
<br />the SlIlIIs s,'cured by this S~'Cunty Instrument: and (e) agrees that Lender and any other Borrower may agree 10 eXlend,
<br />modify, forbear or make any accommodations wllh regard 10 the lerms of this Security Inslrument 01 Ihe Note Wilhoul
<br />thaI Borrower\ consent.
<br />12. (.oan Chargl:!s. If lhe loan slOcured by thiS Secumy Inslrumelllls subject to a law which sets maximum loan
<br />charges. and thaI law IS tinally IIIterpreled so thai the ,"tcn:sl or olher loan charges collected or to be collected in
<br />connCCllon Wilh Ihe loan e~c~....d Ihe permitted IImlls. then: (a) any such loan charge shall be reduced by the amount
<br />nec<.<ssary to reduce Ihe charge to the permllled hmll; and (b) any sums already collected from Borrower which exceeded
<br />pcrmllled IImlls \VIII be refunded to Borrower Lender may choose to make thiS refund by reducing Ihe principal owed
<br />under lhe Note or by making a dire_I paymcnt to Borrower If.J refund reduc~'S principal, lhe redUClion will be treated as a
<br />partial prepaymenl withoul any prepaymenl charge under the Notc,
<br />)3. Legislation Affecting tender's Righls. If enactmcnl or expiration of applicable laws has the effect of
<br />rendenng any proVision of the NOle or this Sccunty Inslrumenl unenforceahle accordlllg to IIs terms, Lender. at its option,
<br />may require imm~-drale paymenl 111 full of all 'I1ms secured by rhls Secunty Instrument and may invoke any remedies
<br />permllh:d by paragraph IQ If Lender l:icCrels<.'S thIS "pIlon. Lender shall take the steps spectfied in the second paragraph of
<br />paragraph 17,
<br />14. Notices. Any nOllee to Borrower prO\'lded for III I IllS Seeun!} Instrument ~hall be given by delivering it or hy
<br />maIling II by first class mall unk-ss applicable law reqUires use of anolher method, The nOllce shall be directed to lhe
<br />Property Address or any other aJdress Borrower deslgnales by nOllce 10 lender, Any notice to Lender shall be given by
<br />first c1a...s mail 10 Lender's address Slated herem or any other address Lender deSignates by nOIlCc to Borrower. Any nOlice
<br />provided for in thiS SecuTlly InSlrumelll shall be deemed 10 hav'e been given to Borrower or lender when given as provided
<br />rn Ihls paragraph,
<br />IS. Governing La..; Severability. ThiS Secumy Inslrurnent shall be governed by federal law and lhe law of lhe
<br />]UnSdlClJOn In which Ihe Property IS located, III the even I thaI allY proVISion or clause of Ilus Security Inslfllmenr or the
<br />Note confticls with apphcable law, such conflict shall not affecl other proVisions of this Security Instrument or the NOlc
<br />whIch can be given effect wnhoutlhe wnftlcllng prOVISion. To this end lhe proVISions of this Securily In~trumenr and Ihc
<br />Note are declared 10 be severable.
<br />16. Borrower's Copy. Borrower shall be gIven ,me conformed copy of the Nole and of I hl~ Secunry Inslfllmcnl
<br />17. Transfer of Ihe Property or B Beneficial (nteresl in Harrower. If all or any part of the Property or any
<br />mlcresl In It is sold or transferred (or If a bcncficlalmteresl rn Borro....er IS sold or Iransferred and Borrower IS n01 a natural
<br />person) wlthoul lender.s pnor written consent, Lender may. al lis optllln. require immediate paymelll III full of all sums
<br />secured by this Secunly Instrument. However, Ihls opllon shallnol be e~clClsed by Lendcr If c~crclse IS prohibil~.,j hy
<br />fcderallaw as oflhe dale of this Security Instrumelll,
<br />lfLender e~ercls<.'S thIS option. lender shall gIve Borro....er nOllce of accelerallon, The nOllce shall provl(lc a perIOd
<br />of no I less lhan 30 days from the date the 1Il1llce IS dehvered or mailed wllhm which Borrower mUSI pay all sums sceured by
<br />thiS Sccurily Inslrumen!, If Borrower fails to pay these sums pnor to the cXplratlon of lhlS penod, lendcr m:1Y IIIVO"-... an)'
<br />remedies permmed by Ihis Securily Instrumelll wnhoul further nOllce or demand on Borrower.
<br />)8, Borrower's Right to Reinstale. If Borrower meclS certain cnndlllClns. Borrower shall ha\'t: Ihe nghl to have
<br />enfon:emenr of thiS s..'Curity Instrument dis.conllnued at any lime pnor to the earlier of: (a) 5 days (or Sill'll olher pennd a~
<br />applicable la.... may sJl<.'Cify for reinslalemen!) before sale of lhc Propeny pur~uanllo any power of sale cOlllalllcd III dlls
<br />Secllnty In~trument; or (bl entry of a judgmenl enforclllg thl~ Security lnstrumenl, Those condlllOlls arc Ihat Borrowt'r
<br />(a) pays Lender all sums which Ihen would be du~ under thIS Secunly Instrumenr and Ihe I"olc had 110 accderalHlIl
<br />occurred. (b) cures any' defaulr of an)' other covenants or agreemenrs, Ic) pays all c.\penses lII.:urrl'd III cnti.rnllg lh"
<br />SecUTlt)' Instrument. IIldudlllg. but not Iimued 10. rea'>Onable alloTl\ey~' fces, and Id) lakes ~u~h actlOI1 as l.,'lhll'r 1I111)
<br />reaMlnabl~ reqUIre to a~sure Ihat the hen of thIS Secunty Insirumenl. lender', rlghls III the I'rnpert) and n..rrower\
<br />ohhgallOIl 10 p"y the sum, secured by IhlS Securtly InMrurnenl ~hall conll/lue ullchanj1.ed Lp"n relllstatelllcnl hy
<br />U"rro"'er. till', s.:cunty IIl'trLlrnCJ1l and the obhgallolls secured lu::reb)' ,hall t<::milln fully dr.,.; 11\ " a~ If no .~,','c1erallon had
<br />',,-ulrrcd !l''''e\'<,r, thIS nghtto reln'tale ,hall 1101 apply III the l'ase of accekralloll under p:tr;I~r;lpl" I \ or I"
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