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<br />88-103022
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<br />If Lender required mortgage insurance as a condilion 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 lerminates in accordance with Borrower's and Lender's written agreement or applicable law,
<br />8. Inspection, Linder nr, its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower no,~ic~8t)hetime of or prior to an inspection specifying reasonable cause for the inspection.
<br />!J. 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. are hereby
<br />assigned and shall be paid to Lender,
<br />In the event of a tOlaltaking of the Property. the proceeds shall be applied to the sums secured by this Security
<br />Instrumem, whether or not then due, with any e;>;cess paid to Borrower, [n the event of a partial taking of the Propeny,
<br />unless Borrower arid 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 ~ecured immediately
<br />before the taking, divided by (b) the fair market value of the Propeny immediately before the laking, Any balance shall be
<br />paid to Borrower,
<br />If the Property 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]O days after the date tile notice is
<br />given, Lender is aUlhorized to collect and apply lhe proceeds. at its option, either to restoration or repair of the Propeny or
<br />to the sums secured by this Securily Instrument, whether or not then due,
<br />Unless Lender and Borrower otherwise agree In wriling, any application of proceeds 10 principal shall not e;>;tend or
<br />postpone 1he due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments,
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for pa)ment or
<br />modification of amortization of Ihe sums secured by this Securily [nstrumenl granted by Lender to any successor in
<br />inlerest of Borrower shall not operate 10 release Ihe liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor 11\ intercst or refuse 10 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 righl or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy,
<br />II. Successors snd Assigns BDund; Joint IIDd Se\'eraJ Liability; Co-signers. The covenants and agreemenls of
<br />this Security Inslrumen, shall bind and benefit the successors and assigns of Lender and Borrower, subject 10 the provisions
<br />of paragraph 17, Borrower"s covenants and agreements shall bejoint and se\'eral. Any Borrower who co.signs this Security
<br />Instrument bul does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in Ihe Propeny under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by Ihis Security Instrument; and (c) agrees thai Lender and any other Borrower may agree to extend,
<br />modify, forbear or make an)' accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent,
<br />12. Loan Charges. If the loan secured by thiS Security Instrument is subjecllo a law which sets maximum loan
<br />charges. and lhat law is finally interpreted so thaI the interest or other loan charges colleclt.'d or to be collected in
<br />connection with the loan exceed the permitted limils. then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge 10 the permitted limit; and (b) any sums already collecled from Borrower which exceeded
<br />permilled Iimils will be refunded 10 Borrower Lender may choose 10 make thiS refund by reducing lhe principal owed
<br />under the Note or by making Ii direct payment 10 Borrower, If a refund reduces principaL the reduction will be treated as a
<br />partial prepaymenl withoul any prepayment charge under Ihe NOle.
<br />13. Legislation Affecting Lender's Rights, [f enactment or expiration of applicable laws has the effect of
<br />rendering any proviSIOn of the NOIe or this Security Instrument unenforceable according 10 its terms, Lender, at its option,
<br />may require immediate payment m full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender exercises Ihis opllon, Lender shall take the steps speCified 111 the second paragraph of
<br />paragraph 17,
<br />14. Notices. Any nOllce to Borrower provided for mthis Secunty Instrumenl ...hall he given hy dell\'ering 11 0: by
<br />mailing il by firsl class mail unless applicable law reqUires use of another method, The notIce shall be directed to the
<br />Properly Address or any olher address Borrower designalcs by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address Slated herem or any other address Lender deSignates hy notice 10 Borrower. Any nOlicc
<br />provided for in this Security Inslrumenl shall be deemed to have been given 10 Borrower or Lender when given as provided
<br />lIIlhis paragraph.
<br />IS. Governing Law; Severability. This Sccunty Instrument shall he governed hy federal law and the lav. of the
<br />JUr. diction in which the Property is located, In the eventlhal any provision or clause of tlm Secunty Instrumcnl or the
<br />Note conllicts with applicable law. such conflict shall not affect other provisions of [his Security InSTrument or the Note
<br />which can be given effect withoUl the cunllicting proviSIOn, To this end the provisions of this Securily Instrumenl and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one l:onformed copy oflhe Note and "fthis Security Instrument.
<br />17. Transfer of the Property or a Beneficial Jnteresl in Borrower. If all or any part of the Property llr any
<br />mterest in it is sold or transferred (or if a beneficial interest III Borrower is sold or transferred and Borrower is nnl a natural
<br />person) without Lender's prior wrillen consent. Lender may, al its option. require immediate payment in full of all 'urns
<br />secured h)' lhis Security Instrument. However, this optIOn shall not he e~elclSed hy Lt'nder If exercise IS proluhiled hy
<br />federal law as of the date of this Security Instrumcnt,
<br />If Lender exercises this option, Lender shall give Borrower noriec of acceleration, The notice shall pn1\')dc J pcr1l1d
<br />of nOlless than]O days from the date the nOlice is delivered or mat led within which llorrower must pay all sums sCl'ured hy
<br />lhl; Security Instrument. If Borrower fails to pay these sums pnor to lhe expiration oflhi; period. Lender may Invoke Jny
<br />remedies permitted by this Security Instrument without further nQtice or demand on Borrower
<br />18. Borrower's Right to Reinstate, If Borrower meets cenain condllions, Borrower shall have the nght to ha\'e
<br />enforceme,nl of this Security Instrument discontmued at any time prior to the earlier of (a) 5 days (or such olher period as
<br />applicable law may specify for reinsullement) before sale of the Property pursuant 1\.1 any power of 'oak l'olHaincd inlhl'
<br />Secunty Instrument; or (b) entry of a judgmenl enforcinll- this Set'unt\ Instrument Those conditions art Ihat Born)wer
<br />(a) pays Lender all sums which then would be due under thIS SecurllY Instrument and the Notl' had Ill' al"e!eTaI101l
<br />occurred, (b) cures any dcfault of' any other co\'enan1s 01 agreemcnts; Ie) pay; all exrenses 1Ilculf"d 111 enfor"II1!! Ihl'
<br />"eCUnl) In'lrument, lIIcluding. but lW\ limited 10, reasonable aHomeys' fees; and (d) ta\..", such acllon a' Lendel' l11a~
<br />reasOllahly reqUIre [(1 assure that the lien of IhlS SCi:uril)' Instrumen1, Lender's ngh" III tht' Pnlpert~ and 1I,\lf',,\\cr\
<br />"hhglll'l'n 1" pa~ the 'tlms 'et'tlred by this Securily Instrument ,hall cnnlll1uc unchang,'d I 'P"11 'l'I11'lal"11ll'nl h~
<br />n"r'''" "I' Ih" S"l:unl~ In'lrument and Ihc obligations secured hereby ,hall remain full) <'IfCll" L' ,I' ,f n.. a,','dcra!It'1l had
<br />"t. urrell Il""t'\l'f, I IllS nght IPl'elll'tale shall nOI apply In lhe ,a,<' of al'celeratltlll undl" p:lla!:raph, l' '" I"
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