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<br />88-103827
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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 terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnat;on. 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 total taking of the Property. the proceeds shall be applied to lhe sums secured by this Security
<br />Instrument. whether or not then due, with any excess paid to Borrower. In the evenl 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 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 Property immediately before the taking. Any balance shall be
<br />paid to Borrower,
<br />[f 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 Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower OIherwise agree in writing, any application of proceeds to principal shall not extend 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 Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization 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 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 an)' right or remedy,
<br />11. Succeuon and AuIIlDl Bound; Joint and Several Uabillty; Co-signers, The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and a.~signs of Lender and Borrower, subject 10 the provisions
<br />of paragraph 17, Borrower's covenants and agreemenls 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, grallt and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated 10 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 to the terms of this S~'Curity Inslrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan !oCCured by Ihis Securit)' Instrumenl is subject to a law ...,hich .elS maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collceled 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 permined limit; and (b) any sums already collecled from Borrower which ellcc:c:ded
<br />permilled limits will be refunded to Borrower, Lender may choose 10 make this refund by reducing Ihe pnnclpal owed
<br />under the Note: or by making a direct payment 10 Borrower, If a refund reducc:1i principal, Ihe reduction will he Ireated a~ a
<br />partial prepaymenl without any prepayment charge under the Note.
<br />13. Legislation "<<minK Lender's Rights. If enactment or expiralion of applicable laws has the effect of
<br />rendering any provision oflhe Note or Ihis Security [nslrument unenforceable according to Its terms. Lender, allls opllon,
<br />may require immediate payment in full of all sums secured by this Securit)' Instrument and may mvoke any remedies
<br />penniued by paragraph 19, If Lender ellerciscs this option. Lender shall take the ~teps specilk'li 111 the second paragraph of
<br />paragraph 17,
<br />14. NGtices. An)' nollce to Borrower provided for m this Secunt)' Instrument shall be given hy dehvering it or by
<br />mailing it by first class mail unless applicable law requires use of another method, The nOllce shall be: dIrected 10 the
<br />Property Address or any olher address Borrower designates by notice 10 Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein Of any other address Lender dcsignalC!o by notice to Borrower. Any nOllce
<br />provided for in Ihis Security Instrument shall be deemed to have been given to Borrower or Lender when gi\'ell as provided
<br />in this paragraph,
<br />IS. Gonrnlna Law; Se,erabillty. This Secunt)' Instrument shall be governed by federal law dnd the la...' of Ihe
<br />jurisdiclion in which the Propert)' is located. In the event that any provision or clause of Ihis Security Instrument or the
<br />Note conflicls wilh applicable law, such conflict shall not affecl other pros'isions of this Security Instrument or Ihe Note
<br />which can be given effect wilhout the conflicting provision, To this end the pn1\'isions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's CGpy. Borrower shall be: given one wnformed copy of the Note and of Ihis Secunty Inslrument
<br />17. Tranaftl' of tbe Property or a Beneficial Interest in Borrower. If all nr an)' part of Ihe Property nr any'
<br />interest in il is sold or Iransferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a nalUral
<br />perMlnl wilhout Lender's prior wnllen consent, Lender may, 31 lis option, require .mmediate pa)'ment in full of all sums
<br />secured by Ihis Securily Inslrument. Howe\'er, this option shall nor be: exerdsed hy Lender If exerci.e is prnhlhlled hy
<br />federal law as of the dale of this Security Instrument.
<br />If Lender 'exerci~ this option, Lender shall give Borrower notIce of acc'elemllon The notICe shall prm ide a pennd
<br />of notlc:suhan lOdays from Ihe dale the notice is delivered or mailed wllhm ... hich Bormwcr must pay all SUIllS sec'ur<'li hy
<br />Ihis Security Inslrument. If Borrower fails 10 pay these: sums pnor to the expiralion of tillS period, Lc'nder may lII\oke any
<br />remedies permilled by this Securily Instrument without further nOllce or demand on Borrower,
<br />18. Borrower', Rlpt to RelllState. If Borrower meets certain conditions, Borrower shall ha\'e the nghl In ha\'e
<br />enforcement oflhis Securit) Instrument discontinued at any time prior lllthe earlier of: (II) 5 day\ (or \uch lither !,<'ri"d a,
<br />applicable law mllY specify for reinMalcment) before sale of the Properly rursuant 10 nn)' rower of \ale <:l.ll1lalllcLl 111 Ih"
<br />Security Inslrumenl; or (b) cnlry of a judgment enforCing Ihl\ Security Instrument Those .:ondition, nre thaI Born'",.,
<br />(a) pays Lender all sums which then would be: due under thiS Security Instrument and Ihe Note had nil a':l'ci<-ral'''n
<br />occurred, (b) eUfC\ an) defaul1 of IIn)' other covenants 01 agreemenls, (c) pay' all expense, incurred In enl;\rl'lI1~ th"
<br />Securil) In'trnmenl, Includinl!. but nOI limited to, rcusonoble <llIorneys' fees, and (d) la~cs such n.:llnn as L,'n,kr I1MY
<br />reaMm_bl)' require to a"ure thai the lien of thIS Security' In\trument, L''Ilder's "!lhl' rn Ihc I'rnp.:rly a'1\1 II", rp" ,.,',
<br />ohhgallon 'Ora) the SUIIIS '>C<:lIred b)' this Se<:Un1y Instrument ,hall l'lIntllluC Ul1dllI111','d l'pll" l<'II,,'a"'I11\"" h,
<br />lI",r"...er, Ihl' 'kc'Urll) lnstrumenl and the ohhgallons 'c:<.:UI cd herehy shall 1<'111.11" fully clTe,'II'" a' ,1,1<' ,',' .-I," ,""'" ',,"I
<br />'~,urr..d IIm.n,'r, 1101\ "Ihllo relR\lllle ,hall not apply ,n Ihe UI'oC flf Illcelna',"" ,,,"k, l'ara!'I;II'''' 1'", I'
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