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<br />~s..- 103002
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<br />If Lender required mongage insurance lL~ a condition of making the loan secured by this Security Instrument,
<br />Borrower sIWI jiji,y;'tJIe premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance termiDareltinacCardance with Borrower's and Lender's written agreement or applicable law.
<br />8:';I~~;",Ltnder or its agent may make reasonable entries upon and inspection~ of the Propeny, Lender
<br />shall give Borrower noti~ at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9, Coadeamatlon, The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other laking of any pan of the Propeny, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />[n the event of a tolal taking of the Propeny, 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 panial taking of the Pro~ny,
<br />unlesl\ Borrower and Lender otherwise agree in writing, tbe sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the totall\lllount of the sums ~.ecured immediately
<br />before the taking, divided by (b) the fair market value of the Propeny immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />[f the Propeny is abandoned by Borrower, or if, after notice by Lend~r 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 t~" notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Propeny 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 eJltend 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 Releuecl; Forbearance By Lender Not II Wainr, Extension of th,~ time for payment or
<br />modification of amonization or the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Under shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amonization of the sums secured by this Security Instrument by rea."On 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. SIICCeIIOn ad AlIi.. BouDd; Joint ad Sel'eral Liability; Co-aipers. 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 Note: (a) is co-signing Ihis Security Instrument only to mongage, grant and convey
<br />Ihat Borrower's mlerest in the Propeny under the terms of this Security Instrument; (b) is not personaliy obligaled 10 pay
<br />Ihe sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend.
<br />modify, forbear or mw any acxommodauons wnh regard to the terms of this Security Instrument or the Note withoul
<br />that Borrower's consent.
<br />12, Lomt ClIups. If the loan secured by this Secunty Instrument is subject to l! law which sets I11ll.ximum loan
<br />charges, and that law is linJilly interpreted so thai the mlerest or olher loan charges colla."ted or to be collected in
<br />connection with the IO&II exceed Ihe pemlltted hmits. then: (a) any such loan charge shall be reduced by the amoant
<br />necessary to reduce Ihe charge to the permitted Iimu; and (b) any sums already collected from Borrower which eJlceeded
<br />permined limits will be refunded to Borrower Under may choose to make thiS refund by reducmg the principal owed
<br />under the Note or by making a direct payment to Borrower, If a refund reduce. pnnclpal. the reduction will be treated us a
<br />partial prepayment without any prepayment charge under the Note:,
<br />13, LqiIIJItioD AlfectiDI LucIer', Riptl. If en"ctment or explral10n of applicable laws has the elrect of
<br />rendering any provision ofthe Note or thiS Security Instrument unenrorceable according to liS terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured b)' thl~ Secunl)' Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender eJlercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17,
<br />1.. NotkeI. Any notice to Borrower provided for m thiS Secunty Instrument shall be given by delivering il or by
<br />mailing it by first class mail unless applicable law reqUIres use of another method, The DOllce shall be directed to the
<br />Property Address or any other address Borrower designales by noltce to lender, Any notice to Lender shall be given by
<br />first class mail to Lender's address slaled herein or any other address Lender deslgnares 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 this paragraph.
<br />15. GoYenliJla Law; Sel'erabitity. This Security Instrument shall be governed by federal law and the law of the
<br />junsdiction in wlojch the Propeny is located. In the event that any provISIon or dause of this Security Instrument or Ihe
<br />Note confticts with applicable law, such conftict shall not alfecl other pro.'islOns of this Security Instrument or the Note
<br />which can be given deet without the conftictmg provision, To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower" Copy, Borrower shall be given one ronformed copy of the NOle and or Ihis Secunty Instrument.
<br />17. TI'IIIIIfer of tile Property or a 8eMfie:iaIlDterm in Borrower, If all or any pan of the Propeny or any
<br />mlerest in it is sold or transferred (or if a beneficial interesl in Borrower is sold or transferred and Borrower 15 not a natural
<br />person) without Lender's prior written consent, lender may. at liS option, require Immediate payment m full of all sums
<br />secured by this Security Instrument. However, thiS opllon shall nOl be exerCised by Lender If exercise IS prohibiled by
<br />federal law as of the date of Ibis Security Instrument.
<br />If lender exercises this oplion, Lender shall give Borrower noltce of acceleration, The nOllce shall proVide a period
<br />of nolless than 30 days from the date the notIce IS delivered or mailed within which Borrower must pay all sums secured by
<br />thiS Securit)' Instrument. If Borrower fails to pay Ibese sums pnor to the expiration of thiS period. Lender may invoke allY
<br />remedies permitted by this Security Instrument wuhou! funher noltce or demand on Borrower
<br />II. BorrowUlllIpt 10 Rebutate. If Borrower meets certain rondiltons. Borrower shall have the right to have
<br />enforcement of thiS ~urity Instrument dificontinued at any ltme prior 10 the earher of: (a) 5 days (or such olber period a~
<br />applicllble law ma)' specify for reinstale1henl) before sale of the Propeny pursuanl to any JlO"er or sale contained in this
<br />Security In"nament; or (b) entry of a Judgmenl enforcmg Ihis Seeunly InstrUMent Those comhhollS are Ihlt Borm\ll'er
<br />(a) pays Lefo~r all sumll which then would be due under thiS Security Instrument and the Note had no acceleration
<br />occurred. (b) cures any default of any olber covenants or agreements; (c) pays all expenses IIlcurred 10 enforclDllthl'
<br />Secunty Instrument, including, but nOI limned to. reasonable atlomeys' rees: and (d) lakes such actIOn as Lender ma)'
<br />rusonably require to assure lbat the hen of thiS Secunly Insuument. Lender's nghts In the Propeny and Dorrower's
<br />obhll811on to Ply the ,um~ secured b)' th" Seeunty Insullmenl shall continue unchang.....i Upon remsratcment by
<br />Borro\llcr, thiS Secunty Instrument and .he obl'lllatlon. liCC'.ned hereb~ shall remslIl rully etfecll\'C a5 If no accelerallon had
<br />occ'Jrred However. thiS rilht 10 rems1ate shall not apply In the case of acceleratIOn under rara~ral'lh, I J or 17
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