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<br />88-103501 \
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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 iliilurance in effect untill!uch time as thc requirement for the
<br />insurance tcrminates in accordance with Borrower's and Lender's written agreement or appP cable law,
<br />8. Inspection. Lender~rJtI-, t<may'1II8kn:el!llUDab1e entries upon and inspections ofthc Propeny, Lender
<br />shall give Borrower notice at jhe tilDe\;. -I'" i~~4t specifying reasonable cause for the inspection.
<br />9. Con~maation. Th~ ~ ,., , ~, t', P ~:: ~~t. . for damages, direct ~r ~onsequential, in c,onnection with
<br />any condemnatIon o. other taking,.,part, ,thLPr= or for conveyancc In heu of condemnatIon, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a total 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 partial taking of the Propeny,
<br />unless 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 taking, divided by (b) the fair market value of the Propeny 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 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 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 extend or
<br />postpone the duc 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 8y Lender Not a Waiver. Extension of the time for payment or
<br />modification of amonization of 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 />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 Sccurity 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:c:eaon and AuiJPII Bound; Joint and Several Liability; Co-sipen. 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 this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interesl in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrumenl; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charps. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is tinally interpreted 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 reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepaymenl charge under the Note.
<br />13. Lealslatlon Aflectiug Lender's Ripta. If enactment or cxpiration of applicable laws has the effect of
<br />rendering 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 Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shan take the steps specified in thc second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrumcnt shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any other address Lendcr designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been givcn to Borrower or Lendcr whcn given as provided
<br />in this paragraph,
<br />15. GoYeminll Law; Se.erabUlty. This Security Instrument shall be govcrned by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect othcr provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrumcnt and Ihc
<br />Note are declared to be severable.
<br />16, Borrower'. Copy. Borrower shall be given one conformed copy of the Notc and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pan of the Property or any
<br />interesl in it is sold or lransferre::l (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lcnder if ellercise is prohibited by
<br />federal law as of the date ofthis Security Instrumenl,
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The noticc shall provide a period
<br />of not less than 30 days from the dale the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument, If Borrower fails 10 pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without fun her notice or demand on Borrower.
<br />11. Borrower'l Riabt to Relllltate. If Borrower meets cerlain conditions, Borrower shall have thc right to have
<br />enforcement of this Security Instrument discontinued It any time prior to the earlier of: (1') 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of I judgment enforcing this Security Instrument. Those conditions are that Borrowcr:
<br />(a) pays Lender all sums which Ihen would be due under this Security Instrument and the Note had no accelcration
<br />occurredj (b) cures any default of any other covenants or agreements; (c) pays all cxpenses incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable auorneys' fees; and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of Ihis Security Instrument. Lender's rights in the Property and Borrower's
<br />obliption to pay the sums secured by this Security Instrument shall continue unchanged, Upon reinstatemcnt bv
<br />Borrower, this Security Instrument and the oblilations secured hcreby shall remain fully cft'cclive as If no acceleration had
<br />occurred. However. this ri.hl to reinstate shall not apply In the case of accelcratlon undcr paragraphs 13 or 17
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