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<br />88- .103836
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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 tenninates 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. 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 />assig.led and 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 e\'ent 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 />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 seule a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is aUlhorized to collecl and apply the proceeds, at its option, eilher to ri:storation or repair of the Property or
<br />10 the sums secured by this Security Instrumenl, whether or not then due,
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds 10 principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change Ihe amount ofsuch payments.
<br />10. Borrower Not Aeleued; 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 10 any successor in
<br />interest 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 Bny successor in interest or refuse to extend time for
<br />payment or otherwise modify amorllzation of the sums secured by this Security [nstrumenl by reason of any demand made
<br />by the original Borrower or Borrower's successors in inlerest, Any forbearance by Lender in exerCising any right or remedy
<br />shall not be II waiver of or preclude the exercise ofany right orremedy,
<br />11. Succeuon IlIld AIIIIlDI Bound; Joint and Several I..lablllty; Co-alpers. The covenants and agreements of
<br />this Security In!llrument shall bind and benefit the successors lInd a5.!ligns of Lender and Borrower, subjeclto the provisions
<br />of paragraph I., Borrower's CoyenanlS and agreemenl1l shall bel joint and several. Any Borrower who co-signs Ihis Security
<br />Instrument bUI does not ell~ute the Note: (a) is co-signing this SecurilY Instrumenl only 10 mongage, grant and conyey
<br />thai Borrower's mlerot in the Propeny under Ihe lerm~ of this Security Instrument; (b) is nOI pen-onally obligaled to pay
<br />the sums secured by this Security Instrument; and (c) agrees thai Lender and any other Borro"'cr may agree to eluend.
<br />modify, forbear or make any accommodations with regard 10 Ihe tenns of Ihls Secunty Inslrument or the Note withoul
<br />that Borrower's consenl.
<br />12. Lou Cbuan. [fthe loan secured by this Securil}' [nstrumenllS subjecllo a law which sels mallirr.um 1000n
<br />charges, and lhat law is finally interpreted '>0 thaI the interest or other loan charges collected or 10 be collecled in
<br />connection with the loan 6cecd the permilled limits, then: (a) any such loan charge shall be reduced by the amoullt
<br />neces.'illry to reduce the charge 10 the permilled limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted Iimils ""ill be refunded 10 Borrower, Lender may choose to make Ihls refund by reducing Ihe principal owed
<br />under the NOle or by making a direct payment 10 Borrower, If II refund reduct'll pnnclpal, Ihe reduction will be Irealed a.s a
<br />panial prepayment without IIny prepayment charge under Ihe Note,
<br />13. Leal.latia Aft'tetlna Lender'. Alabu. If enaclmerll or ellplratlOlI of applicabl... laws has Ihe effect of
<br />rendering any proviSion of Ihe Note or thiS S<<urrty Instrument unenforceable according to its lerms, Lender, at its opllon.
<br />may require Immediale payment an full of all sums secured by IhlS Secunly [nstrument and may invoke any remedies
<br />pennllled by paragraph 19, If lender ellerCISC!i lh.s opllon, Lender shall take the sleps specified in Ihe second paragraph of
<br />paragraph 17,
<br />14. Nollca. An)' notice to Borrower prOVIded for III 11m SeL-uruy Inslrument shall be given by deli\'ering it or by
<br />mailing it by I1nt clan mall unless IIpphcable law reqUlrt'!l us<: of IInother melhod, Thc nollce shall be directed to the
<br />Property AddrC!>s or an)' other llddre>s Borrower dC!>.gnatt"> b) nOllce 10 lender Anj' notice to Lender shall be given by
<br />l1"t class mall to Lender's address stated herem or any 01 her address Lender deslgnale> by notice to Borrower, Any notice
<br />pro\'ided for m this Security Instru'menl shall he deemed III hB"c heen given to Borrowcr or Lender when gl\'en as pro\'ided
<br />in th.~ paragraph,
<br />15. Go"ernillll Law; Seyerabillty. This &curil)' Instrumenl shall be gcwerned hy federal law altd the law of th...
<br />Jurisdiction III which the Properly is located, In the e"cntthatllny pnWISlon or clause of I IllS Sccunty Instrument or the
<br />NOle conlliets wuh applicable law, ~uch conllict shall not affecl other proVISIons of thiS Sel:urily Inslrument or Ihe NOle
<br />which can be gi\'en df'ecl without Ihe conllicling provision, To thiS end Ihc proVisions of th" SeL'urit)' Instrument and the
<br />Note are declared 10 be severable,
<br />16. Borrower', Copy. Borrower shall be given one conformed copy oflhe Nole and oflhls SecUnly Inslrument
<br />17. Yraaafer of the Property or 8 Benefielal Interest In Borrower. If all nr an)' rart of Ihe "rorerty or any
<br />interestln it i~ sold or transferred (or if a beneticlal inlcresl in IInrrower is sold or Iransferrcd and Borrm,cr IS nm a nalUral
<br />person) withoul Under's prior wrinen consenl, Lendcr may. at its opllon, reqlllrc Imllledmt... pll}'melll III full of all sums
<br />'leCured b)' Ihis Security Instrument. Howe\'cr. Ihis option shall not be cllerciscd by Lender If c,cn:lsc IS prohibited by
<br />federallBw as of the date of this Securit)' Instrument.
<br />If Lender exercilles Ihis option, Lender shall give Borrowcr nollce of lIccelCrallCllI, The nnllce shall prcl\'ide a period
<br />UfllOf less than JOdays from the date the nolice is deli\'ered or lIIa;!ed within which Borrower lIlust I'U)' IllllLlllt1S secured by
<br />rhis Security [nurumerJl, I( Borrower fails 10 pay these sums pnor 10 I he ellplration of rim period, Lender IIlll)' in\'oke an)'
<br />remcdic:1l permjlled by this Securit)' Instrumenl withoul further nOllce (If dClIland Olt Ilorrower,
<br />II. Borrow,,', Alldlt to Ae[nl..tf. If Borrower mrets cert:lin cOlldltlOIlS, Bnrl'IlWcr shull have Ihe I'll!hl In have
<br />ellforcemenl of Ihis Securit)' Instrumenl di~ontinutd lit any IlmC:" prior to the eurller nf Ill) 5 dolY' Inr such ,lIher peno\! as
<br />aPr"clble law ml)' specify fnr reinstatement) before sale of the I'ropen)' pUf'luonl III an)' power of sllle L'onllllned In Ilus
<br />Securuy Illslrument; or (b) entry flf II judgmenl enforcing this Securil)' Inslrumenl Thn'e condlllons Dr" Ihnl B<1rfnWl"f
<br />(.) JIfIY' L~JKkr oil sum~ whleh Ihen would he due under lhi~ Se,'urll)' In~lr\lfllen' and Ihe Note hud no u.'n'fernlloll
<br />oIccurrw; (b) curcI any ekfaull of -!lny other covenllnl~ nr Rgrc:emc:nl\, (e) P[I)'S all expensc\ Incurred 111 "111'''1'''11111 1111'
<br />SecuNly Inllnllnent. ,"dudlnll, bUI nol ""\lIed In, reascmohl... IUlotney\' f,'"," , al1d lei) luke, 'udl IIL'11l1l1 rl' I.L'uder 11111)
<br />rC:.">n.hly r('{,ulre In Ituurc Ih.t Ihr hen nf thl' ScL'unt)' In\lrUlllenl. Lender', nghts In Ihe I'mpet" "lid 1I0n"""I"
<br />ubhllJlIH'11 'n I'IY lhe 'u"', ,,,,'urcd h)' Ih" SCt::llfHy' 1rl\1rumenl ,hllll ,,"rIlII1U" undlllllj!cd \'r','n "'''''1,11<''"''111 hI
<br />Horr.......r, 1111\ ....curlly In'lrlIlIIl"lIlllnd th... ,,"111(811011\ ',el'ured hereh)' \hllll rCUlllll1 full) "tr",'III(" II' It 11<1 :\"'TIc-':lI"'11 hlld
<br />'..Tlltr...d IIn....,..." tll1\ rllIlu In It'll"'.!" .111111 Unl Ilpl'ly tlllhc- cr.,,' nf "t'crlN"""" IIndt" ralllj!r:\!,'" I \ '" I ~
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