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<br />88- 103850
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<br />If Lender required monpae insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower Iball paytbe premiUIIII required to maintain the insurance in efl'ect until such time as the requirement for the
<br />insu~i::e,~nata in ~.wilh Borrower's and Lender's written agreement or applicable law.
<br />" .. .,,11:1". ,~,,' LeplIUdrits:agent may make reasonable entries upon and inspections of the Property. Lender
<br />shallpw-Bo......... Dobcieat ihe.or or prior to an inspection specifyinB reasonable cause for the inspection.
<br />,. ~ If -'.... The proceeds of any award or claim for damages, direct or consequential. in connection with
<br />any condemn.tion or otber taking of any pan of the Property, or for conveyance in lieu of condemnation. are hereby
<br />usigned and Ihall be paid ~o Leuder.
<br />In the event of a total takinJ of the Propeny, the proceeds sball be applied to tbe sums secured by this Security
<br />Instrument, whether or not then due. with any eKeI1 paid to Borrower. In the event of a panial takinB of tbe Property,
<br />unless Borrower and Lender otherwise qree in writins. the sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the follmnB fraction: (a) the total amount of the sums secured immediatdy
<br />before the takiJt&, divided by (b) the fair market value of the Property immediately before the takinB: Any balance shall be
<br />paid to Borrower.
<br />If the Property is abanckmed by Borrower, or if, after notice by Lender to Borrower that the condemnor ofI'en to
<br />make an award or ICttle a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is
<br />liven. Leoder is autborized to collect and apply the proceeds, at its option, either to restoration or repair of tbe Property or
<br />to the IiUIIII secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otberwise agree in writing. any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly paymCllts referred to in JIlIf8It'BPhs I and 2 or change tbe amount of such payments.
<br />10. ....j)lter Not ReIeaIetI; FortIeuaDce By Leader Not a Waiyer. Extension of the time for payment or
<br />modific:ation al amoniution of the sums secured by tbis Security Instrument granted by Lender to any successor in
<br />interest of Borrower Ihall not operate to release tbe liability of the originsl Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceaiinp &pinst any successor in interest or refuse to extClld time for
<br />payment or Olberwile modify amonization of tbe sums secured by this Security Instrument by reason of any demand made
<br />by the ori&inaJ Bot fOwer or Borrower's successors in interest, Any forbearance by Lender in exercising any right or remedy
<br />IbalI DOt be a waiver of or preclude the eercise al any right or remedy.
<br />IL ~ ,......... .... AIIipI Beud; JoUd ... Snenl Uability; Co-sipers. The covenants and agreements of
<br />this Security Instrummt IbalI bind and benefit the successon and assians of Lender and Borrower. subject to the provisions
<br />m parqnpb ] 7. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-sips this Security
<br />Inltl'UlllCllt but does not execute the Note: (a) is co-sipinl this Security Instrument only to monsase. 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 IeCUJ'a:t by this Security In5U\UDel1t; and (c) qrees that Lender and any other Borrower may agree to extend.
<br />modify, forbear or make any acc:ommocIations with reprd to the terms of this Security Instrument or the Note without
<br />that Borrower', COIIICIIt.
<br />11. I.- CII8rIa If the Joan IleCUred by this Security Instrument is subject to a law which sets muimum loaD
<br />clwpl. and that law is fiDalIy interpreted 10 that the interest or other loan charJcs collected or to be coUec:ted in
<br />~ with the Joan Qa:ed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />neceuary to reduce the charae to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refUDded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by makiq a cIirec:t paymcDlto Borrower. If a refund reduces principal, the reduction will be treated as a
<br />pa.nial prepayment without any prepayment charJe under the Note.
<br />n I W ....... AtrectiIII LeMen ........ If enactmCllt or expiration of applicable laws has the efl'ect of
<br />rmderinI any provision of tile Note or tbis Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may rcq1Iirc immediate payment in full al aD sums seeured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender exercises tbis option. Lender shall take the steps specified in the second paragraph of
<br />parqraph 17.
<br />I". Nodces. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailina 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 dcsipatcs by notice to Lender. Any notice to Lender shall be Biven by
<br />lint dais mail to Lender's address stated herein or any other address Lender designates by notice to Bof'l'OWer, Any notice
<br />provided for in this Security Instrument shall be deemed io have been given to Borrower or Lender when given as provided
<br />in this parqrapb,
<br />15. ~ Law; SnenbIIity. This Security Instrument shall be governed by federal law and the lawoftbe
<br />jurildic:tion in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />Note coaIids with applicable law, such conflict Iball not alI'ect other proviSIons of this Security Instrument or tbe Note
<br />wbicbQII be liven efl'ect without the confticting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be ~erable,
<br />16. ............c.". Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. T........ of die Pro,erty or a Beeeftdallaterest i. Bono"er. If all or any pan of the Propeny or any
<br />iatcret in it is told or transf'med (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />perIOII) without LeDder's prior wriUCII consent, Lender may, at its option. require immediate payment in full of aU surm
<br />IICICUI1ld by tbis Security Instrument. However, this option shall not be uercised by Lender if uerci!k: is prohibited by
<br />federal law. althe date of this Security Instrument.
<br />If Lender aerciIes this option. Lender shall live f~er notice of acceleration. The notice shall provide a period
<br />m1lClC _ than 30 days from tbe date the notice is delivered or mailed within which Borrower must pay all fiums secured by
<br />this Security bntnnnent, If Borrower 'ails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies pennitted by this Security Inltnunent without funher notice or demand on Borrower,
<br />IL ..~o........... to .eI......, If Borrower meets certain conditions, Bo;-rower shall have thl: right to have
<br />enforcement at this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Propeny punuant to any power of sale contained in this
<br />Security InltrumerJt; or (b) entJ)' of a judlDlent enforcinl this Security Instrument. Those conditions are that Borro.'er:
<br />(a) pa)'l Lender all SUInI which then would be due under thk Security Instrument and the Note had no acceleration
<br />occurred; (b) curet any default of any other llOVeaants or qnements; (c) pays all ellpenliel> Incurred in enforcin, this
<br />Security Instrument, includinl. but no( limited to, reasonable attorneys' fees; and (d) takes such action as Lender may
<br />f'tMOIISbIy require to allure that the hen of this Security Inltrument. Lender's n,hll In the Propert)' and Borrower's
<br />obIiption to pay the IUIIM ICCUred by this Security Instrument shall continue unchanaed Upon reinstatement by
<br />Borrower, this Security In!drument and the oblipllonlleCurcd hereby shall remain fully ell"ecu"'e as If no accelerauon had
<br />occurred, HOWC\ler. this rilJhlto reinstate shall nOl apply In the cue of acalerallon under paral!raphs 13 or 17
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