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<br />88-103390
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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 tennig~t~:iri:lil:cordance with Borrower's and Lender's written agreement or applicable law,
<br />8;" :.llIIpeetlOllP 'l.ender or its agent may make reasonable entries upon and inspections of the Property, Lender
<br />shall glve'B'orroweiiiou&tlit the time of or prior to an inspection specifying reasonable cause for the: inspection.
<br />9. Condemnadon, 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 an~. 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 taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be u:luced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, 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 notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond 10 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 or repair of the Property 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 extend or
<br />postpone the due date of the monthl~' payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not. Walver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrumenl 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 />Lender shall not be required to commence proceedings against 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 />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11, Suc:ceaon and Aallllll BoIUId; Joint and Sel'erallJablUty; Co-sillllers, 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 Harrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the 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 other Borrower may agree to extend.
<br />modify, forbear or make any accommodations with regard 10 the terms of this Security Instrument or the Note withoul
<br />that Borrower's consent.
<br />12. Loan CIIarJa, If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally inlerpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to 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. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower, If a refund redLlces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under Ihe Note.
<br />13. Leaialatloa AlJectlna Leader'. Rip... If enactment or expiration of applicable laws has the efl'ect of
<br />renderina any provision of the Note 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 Securily Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender exercises this option, Lender shall take Ihe steps specified in the second paragraph of
<br />paragraph 17,
<br />1.. Notices. Any nOlice 10 Borrower provided for in this Security Inslrument shall be given by delivering it or by
<br />mailing il by first class mail unless applicable law requires use of anolher method. The nOlice shall be directed to Ihe
<br />Property Address or any other address Borrower designates by notice 10 Lender, Any notice to Lender shall be given by
<br />firsl class mail to Lender's address stated herein or any other address Lender designates by nolice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given 10 Borrower or Lender when given as provided
<br />in this paragraph,
<br />15. Go"eraIng"'W; Se..erablllty. This Security Instrumenl shall be governed by federal Jaw and the law of the
<br />jurisdiction in which the Property is localed, In the evenl thai any provision or clause of this Securily Instrument or the
<br />Note conllicts with applicable law, such conllicl shall nOI affect olher provisions of Ihis Securily Instrument or Ihe NOle
<br />which can be given efl'ect without the conllicting provision. To this end Ihe provisions of Ihis Security Instrument and Ihe
<br />NOle are declared to be severable,
<br />16. Borrower'a Copy. Borrower shall be given one conformed copy oflhe Note and ofthis SecurilY Instrument.
<br />17. T"""'er or the Property or a Benellclal Interest in Borrower. If all or any part of Ihe Property or any
<br />interest in it is sold or transferred (or if a beneficial interesl in Borrower is sold or transferred and Borrower is nOl a nalural
<br />person) without Lender's prior writlen consent, Lender may. at its option. require immediale payment in full of all sums
<br />secured by this Security Inslrument. However, Ihis oplion shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Inslrument.
<br />If Lender exercises Ihis oplion, Lendershallgive Borrower nOlice of acceleration, The notice shall provide a period
<br />of not less than JO days from Ihe dale the nOlice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Securily Instrument. (J' Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any
<br />remedies permitted by this Securily Instrument withoul further nOlice or demand on Borrower,
<br />II. Borrower'. Rlpt to Relaatate. If Borrower meets certain conditions. Borrower shall have the right 10 have
<br />enforcement of this Security Instrument discontinued at any lime prior to Ihe earlier of: (a) S days (or such other period as
<br />applicable Jaw may lpecify for reinstatement) before sale of the Property pursuanl 10 any power of sale conlained in Ihis
<br />Security Instrument; or (b) entry of a Judgmenl enforcing Ihis Securily Inslrument, Those condilions are that Borrower:
<br />(a) pays Lender all luml which Ihen would be due under Ihis Security Inslrumenl and the Nole had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing Ihis
<br />Security Instrumenl. including. bUI nOI limiled 10, reasonable altorneys' fees; and (d) takes such aclion as lender may
<br />reasonably require 10 assure thai the lien of this Security Instrumenl, Lender's rights in Ihe Property and Borrower's
<br />obIiptiOfI 10 pay Ihe sums secured by this Security Instrument shall continue unchanged. Upon reinstatemenl by
<br />Borrower, this Security Inslrument and the obligalions secured hereby shall rcmam fully effective as if no acceleration had
<br />occurred. However. Ihis ri,llIlo reinstate shall nOl apply In Ihe case of acceleration under paragraphs 13 or 17.
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