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<br />88-103855
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<br />If lender required morlgage insurance as a condition of making the loan secured by Ihis Securily Instrumenl,
<br />Borrower shall pay Ihe premiums required 10 main lain the insurance in effect until such lime as Ihe requiremenl for the
<br />insurance lerminates in accordance with Borrower's and Lender's written agreemenl or applicable law,
<br />8. InspllCtlon. Lender or its agenl may make reasomlble entries upon and inspections of the ProperlY, Lender
<br />shall give Borrower notice at Ihe lime of or prior to an inspection specifying reasonable cause for Ihe 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 Ihe Property, or for conveyance in lieu of condemnation. are hereby
<br />assigned and shall he paid to Lender,
<br />In the event of a total laking of Ihe Property, the proceeds shall be applied 10 the sums secured by this Security
<br />Instrument, whelher or not then due, with any e;ll;cess paid to Borrower. In the event of a partial laking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by Ihis Security Instrument shaH 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 Ihe Properly is abandoned by Borrower, or If, after notice by Lender to Borrower Ihat the condemnor offers 10
<br />make an award or scule a claim for damages, Borrower fails to respond to Lender within 30 days afler the date the notice is
<br />given, Lender is authorized 10 collect and apply Ihe proceeds, at its option, either to resloration or repair oflhe Property or
<br />to the sums secured by Ihis Security Instrumenl, whether or not Ihen due,
<br />Unless lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nOI extend or
<br />postpone the due date of Ihe monthly payments referred to in paragraphs I and 2 or change the amounl of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a WaiYer. E;lI;tension of Ihe 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 to release the liability of Ihe original Borrower or Borrower's successors in interest.
<br />Lender shaH not be required to commence proceulings agamst any successor in interest or refuse 10 e;ll;tend time for
<br />payment or olherwlse modify amortization of Ihe sums secured by IhlS Security Instrument by reason of any demand made
<br />by Ihe 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 eurcise of any righl or remedy,
<br />II, SUc:ceAOn IIIId Assigns Bound; Joint and SeYeral Liability; Co-slllners. The covenanls and agreements of
<br />thIS Securit., Instrument shall bind and benefit the successors and assigns of L.ender and Borrower, subject to the provisions
<br />of paragraph 17, Borrower's covenanls and agreements shall be joinl and several. Any Borrower who co-signs this ~urity
<br />Instrument bUI does not eJlecute Ihe Note: (a) is co-signing this Security Instrument only to morlgage. gran I and convey
<br />that Borrower's interest m the Property under the terms of this Security Instrumenl; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that lender and any olher Dorrower may agree to extend,
<br />modify, forbear or make any accommodallons wllh regard 10 lhe terms of this SecUrity Inslrument or the Nole without
<br />that Borrower's consent.
<br />12. Loan CItarIes. If Ihe loan secured by this Securily Instrument is subJecl 10 a law which sets mallimum loan
<br />charges, and thai law i! finally interpreted so that the interesl or other loan charges collected or to be collecled in
<br />connection with Ihe loan ellceed Ihe permilled limils, Ihen: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to Ihe permitted limit; and Cb) any sums already collecled from Borrower which e;ll;ceeded
<br />permiued Ii mils will be refunded to Borrower lender may chOO'>e to make thiS refund by reducing the principal owed
<br />under the Nole or by making a direct payment to Borrllwer, If a refund reduc6 principal. the reduction will be treated as a
<br />partial prepayment wnhoul any prepayment l:harge under Ihe NOle,
<br />13. LeablatiOD Aft'ectilll Leader's Rlpb. If enlll:!menl or e~plf'.ll1on of applicable laws has the effect of
<br />rendering any proVIsion of the Nole or thIS Secunly Instrumenl unenforceable according 10 lis lerms. lender, al its option,
<br />may require Immediate payment m full of all sums secured by Ihls Secunt)' Inslrument and may invoke any remedies
<br />permiued by paragraph 19, If lender exercises Ihls oplion, Lender shall lake Ihe stcp!i speCIfied in Ihe second paragraph of
<br />paragraph 17,
<br />14, Noticn. Any notice: 10 Borrower prmlded for 10 Ih.s Sc:.:unly InMrument shall be given by delivering it or by
<br />mailing il by first class mad unless applicable law requires use: of anolher method, The nolice shall be directed to Ihe
<br />Property Address or any other address Borrower designates 1:1) nOllcc: 10 Lender Any nOlice 10 Lender shall be given by
<br />firsl class mail to Lender's address stated herem or any other address Lender deslgnales by nOlice to Borrower. Any notice
<br />provided for in this Security Instrumenl shall be deemed 10 have been gIven 10 Borrower or Lender when !riven as provided
<br />in this paragraph,
<br />15. GoYenUna Law; Severability. This Security Instrumenl shall be governed by federal law and the law of Ihe
<br />jurisdiction in which the Property is located, In the event thai any proviSIOn or dause of thIS Security Instrument or Ihe
<br />Note conflicts with apphcable lalO', such conflict shall not affecl other prOVIsions of this Security Inslrumenl or the NOle
<br />which can be given elrcet without the conllicting provision, To thIS end Ihe proVIsions of this Security Instrument and Ihe
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Inslrument,
<br />17. Transfer of lhe Property or a Benefic:l.llnlerest in Borrower, If all or an) part of Ihe Property or any
<br />IOlerest in il is sold or IransfeIT~ (or if a beneficial inlerest in Borrower IS sold or 1 ransferred and Borrower is nOI a natural
<br />person) "dthout lender's prior .,.,ritlen consent, lender may, al ils oplion, reqUIre immediale paymenl 10 full of all sums
<br />secured by IhlS Security Instrument. However, Ihis opliun shall nOI be e~erclsed by Lender If exercise is prohibited by
<br />feckrallaw as oflhe date oflhis Security Inslrument.
<br />If lender ellercises this oplion, lender shall give Borrower notice of accelerallon, The nollce shall provide a period
<br />of not less lhan 30 days from the dale the nOlice is delivered Ilr maIled within which Borrower must pa~ all sums secured by
<br />thIS Security Instrument, If Ik.rrower fails to pay these sums pnor 10 the e~piration of this penod, Lender may invoke an)'
<br />remedies permined by Ihis Security Inslrumenl wilhoUI further notice or demand on Borrower
<br />II. Borro.er.. Ript to Relublte, If &rrower meets certain conditions, Dorrower shall hav'~ the flghl 10 ha\'e
<br />enforcermnt of this Securily Inslrumenl discontinued at any lime prior to the earlier of: (a) 5 days tor such other period as
<br />applicable I.".. may specify for relllMatemellt) before sale of Ihe Property pursuanl 10 any power of sale ,'onlamed In 11m
<br />Security InMrument; or (b) entry of a judgment enforcing Ihls Securily Instrumenl Those condillon\ are Ihlu norrnwcr
<br />Ca) pays lender all sums which then would be due under thi, Sec1lrity Instrumenl and the Nolc had nil ac,'clerallon
<br />occurred; Cb) cures any default of any olher covenants or agreemenls: (c) pays all e~pense' Im'urrel,l Hl cnforcinlt Ihl'
<br />Security (nstrumcnI, \Deluding, lJm not hmned 10. n:a~nDble IllIorneys' feo; lI"d Cd I lakes \Ud1 awol1 liS Lender lOa)'
<br />reAwlflably reqUIre tn assure Ihat Ihe hen (If this Security Inslrumenl, Lender', rl!lht< III "ll" 1'f'l'I-.err~ lint! norro..'er',
<br />oblipllOTI 10 pay the sums \CC;u(cd by tillS Security Inslrument shall ""nlllllle uIKhulIlll'd 1'1',\11 r(,III\lnICIIICIII hI
<br />Rorrawer, Ih,\ Sn:urtt)' Inslrument alld Ihe oblrg8111l1U _<<:cured hereby _hull remll," fulll rtT,".-rl\c II' If II" nn,..lcrnllon tllld
<br />occurred Un......'"I' ' Ih.. fIlthllll r","'lalc shall no' liPpi, In lhe caw of acn~h'rall"n ul1,!t:-r r"'n~ml'h\ 1\ '" I"
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