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<br />88-
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<br />103862
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<br />If Lender requiJg,~rts.g.;!iIs\l"PtCe.!I5'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 tenninales in accordance with Borrower's and Lender's wrillen agreement or applicable law.
<br />8, Inspection. Lender or ils 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. CondemnatloR. The proceeds of any award or claim for damages, direct or consequential, in conneclion with
<br />any condemnation or other laking 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 lotal taking of the Property, the proceeds shall be applied 10 the sums secured by this Security
<br />Instrument, whelher or nollhen due, with any excess paid to Borrower, In the evenl of a partial laking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums !oCCured by this SecurilY Inslrumenl shall be reduced by
<br />the amoUnl of Ihe proceeds mulliplied by the following fraction: (a) the total amount of Ihe sums secured immediately
<br />before the taking, divided by (b) lhe fair market value of the Property immediately before the laking, Any balance shall be
<br />paid to Borrower.
<br />If Ihe Property is abandoned by Borrower. or if, after nOlice by Lender to Borrower that Ihe condemnor offers to
<br />make an award or sellle a claim for damages, Borrower fails 10 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 resloration or repair of the Property or
<br />to the sums secured by thiS ~urity Instrument, whether or nOI then due.
<br />Unless Lender and Borrower otherwise agree in writing, any applicalion of proceeds 10 pnncipal shall nOI extend or
<br />postpone Ihe due dale of the monlhly payments referred to in paragraphs 1 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 Ihe liabililY of the original Borrower or Borrower's successors in interest.
<br />Lender shall nOl be required 10 commence proceedings against any succcssor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of Ihe sums secured by this Security I nsl rument 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 bea waiver of or preclude the exercise of any nght or remedy.
<br />11. Suceenon and Aultpll Bound; Joint and Senral Liability; Co-sillllel'$. The covenants and agreements of
<br />this SecurilY Instrument shall bind and benefit the successors and assigns of lender and Borrower, subjeclto the provisions
<br />of paragraph 17. Borrower's covenanls and agreements shall be join I and several. Any Borrower who co.signs this Security
<br />Inslrument but dO<."S nOI execule the Note: (a) is co.signing Ihis Security Instrument only 10 mortgage, granl and convey
<br />that Borrower's inlerest in the Propeny under thc lerms "fthis Security Instrument; (b) is nol personally obligaled to pay
<br />the sums secured by Ihis Security Inslrument; and Ie) agrees thai Lender and any other Borrower may agree 10 e~tend.
<br />modify, forbear or make an)' accommodations with regard to the terms of this SCC'urity Instrument or the Note without
<br />Ihat Borrower's consent.
<br />12. Loan Charilea. If the loan secured by thIS Security Instrumenl is subject to a law which sels ma~imum loan
<br />charges, and that law is finally interpreted s" thai the inlereSI or olher loan charges cnllcclCfl or to bc collecled in
<br />connL-ctlon with the 10011 exceed the permllted IIm'h. Ihen' (a) any such Joan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permilled limit; and (b) any sums already collected from Borrower which e~cL'Cded
<br />permined limits will be refunded to Borrower Lender may choose to make tlm refund by reducmg Ihe principal owed
<br />underthe Note or by making a direct payment to BOrrower. If a refund reduces principal, the reduction will be treated asa
<br />partial prepayment without any prepayment charge under Ihe Note,
<br />13. legislation Affecllnll l.ender's Rlllhh. If em,Clment or explratoon of applicable laws has the effecl of
<br />rendering any provision orthe Note or rhis Secunty Instrument unenforceable accordmg 10 Its terms, Lcnder. at ,Is option,
<br />may reqUIre immediate payment in full of all sums sceured by [h,', Secunly Insrrument and may invoke any remedies
<br />permiucd by paragraph 19. If Lender e~ercises this option, Lender shall take the steps specified m the second paragraph of
<br />paragraph] 7,
<br />14. Notices. Any notice 10 Borrower prOVIded for in rhlS Security Instrument shall be given by dellvenng It or by
<br />mailing it by first class mail unless applicable law requires use of another method, The notIce shall be direcled to the
<br />Property Address or any other addres.s Borrower designates by notice to Lender. AllY notice 10 Lender shall be g,ven by
<br />first class mail to Lender's address staled herein or any olher address Lender designates by notice to Borrower. Any nntice
<br />provided for in IhlS Securily Instrument shall be deemed to have been gh'en 10 Borrower or lender when gIven as provided
<br />in thIS paragraph,
<br />15. Go.erning Law; Se.enbililY. ThIS Security Instrument shaJJ be governed by federal law and rhe law of the
<br />jurisdiction in which the Property is located. In the event Ihal any prOVision or c1ausc of Ihis SecurilY Inslrument or Ihe
<br />Note confticts with applicable law, such confticl shall not affect olher proVISions of this Security InSlrument or Ihe NOIe
<br />which can be given effect without the confticling provision, To this end the provisions of this Security Instrument and the
<br />Note are declared 10 be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the NOle and of this Security Inslrument.
<br />17. Tl'1ID5rer 01 the Property or a Benefielallnterest in Borrower. If all or any part of thc Property or any
<br />inlerest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natura]
<br />person) without Lender's prior wrinen consent, Lender may, allts option. reqUIre Immedlale paymenl in full of all sums
<br />secured by Ihis Security Instrumenl. However, thIS option shall not be exel cised by Lendcr if exercise IS prohibiled by
<br />federal law as of the date of Ihis ~urily InslrumenL
<br />If Lender exercisell this option, Lender shall give Borrower notice of acceleration, The nolice shall provide a period
<br />of no I less than 30 days from the date Ihe 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 Ihe expiralion of thIS period, Lender may invoke any
<br />remedies permilled by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reillltate. If Borrower meelS certain condiuons, Borrower shall have the nght 10 ha,e
<br />enforcement of Ihis Security Instrument discontinued al allY time prior 10 the earher of: (a) 5 da)'s (or such other f>criod 11.,
<br />applicable law may specify for reinstatemenl) before sale of the Property pursuanl 10 any power of sale cOlllamed m IIIIS
<br />~urity Instrument; or (hi entry of a judgment enforcing this Security Insl rumenl. Those conditions are I hal Borrnwer
<br />(II) pays Lender all sums which then would be due under this Securily Inslrument and the Note had no acceleralion
<br />occurred; (b) curn any defaull of any other covenants or agreements; (c) pays all e'pens", incurred III enforcms tl",
<br />Security Instrument, including, but not limited 10, r,""",nable allorney, fccs; and (d) takes ".ch actIon as L.ender may
<br />rusonably require 10 _ure lhat the lien of Ih.. Secunty Instrument. Lender's nght' m Ihe Pfllperly Ilnd Horro",cr',
<br />obligation to pay lhe sums secured by this Secunty Inslrumenl shall continue unchanged. Upon relll'lalcmenl b)
<br />Borrower, thiS Securily Inslrument and the obhll"ltons secured hereby .hall remain rully effcct,,'e as Ir no ac.:c1erall"n had
<br />occurred However.lhis riptto rcinstateshall nol apply In the case ofaccelcratlon under paragmphs I' '" P
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