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<br />88- 103887
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<br />If Lender required mongage insurance as a condition of making the loan secured by this Sccurity 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, Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any pan of the Propeny, or for conveyance in lieu of condemnation, are :tereby
<br />assigned and shall be paid to Lender,
<br />In the event of a total taking of the Propeny, 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 event 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 Propeny 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 resturation or repair of the Propeny or
<br />to the sums secured by this Security Instrument, whether or not then due,
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of t he monthly payments referred 10 in pan.graphs I and 2 or change the amount of such payments.
<br />to. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for paymcnt or
<br />modilication 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 interesl.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />paymcnt 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 nol be a waiver of or preclude Ihe exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co.signers. The covenants and agreemcnts of
<br />this Security Instrumcnt shall bind and benelit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreemcnts shall bejoint and several. Any Borrowcr who co-signs Ihis S<'Curily
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the propeny under the terms of this Security Instrument; (b) is not personally obligated 10 pay
<br />the sums secured by this Security Instrument; and (c) agrces that Lender and any other Borrower may agree to extend.
<br />modify, forbear or make any accommodations with regard to the terms of this Security Inslrument ur the Nute witliout
<br />that Borrower's consent,
<br />12. Loan Charges. If the loan sccurcd by this Security Instrumcnt is subject to a law which sets maximum loan
<br />charges, and that law is linally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, thcn: (a) any sucb loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permilled limits will be refunded to Borrnwer. Lender may choose to make this refund by reducing Ihe principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be trcated as a
<br />partial prepayment without any prepayment charge under thc Note.
<br />t3. Legislation Affecting Lender's Rights. If ~nactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Inslrument unenforceable according to its terms, Lender. at its option,
<br />may require immediate payment in full of all sum. ><:cured b)' Ihi. Security lnstrument and may invoke any remedies
<br />permitted by paragrdph 19, If Lender exercIses this option, Lender shall lake the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nOlice to Borrower provided for in this Securily Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another melhod, The notice shall be directed to the
<br />Propeny Address or any other address Borrower designate. by nOlice 10 Lender, Any notice to Lender shall be given by
<br />lirst class mail to Lendcr's address stated herein or any olher address Lender designates by nOlice to Borrower, Any notice
<br />provided for in this Security Instrument shall be deemed to havc been given 10 Borrower or Lender when given as provided
<br />in this paragraph,
<br />15. Governing Law; Severability. This Securily Instrument shall be governed by federal law and the law nf the
<br />jurisdiction in which the Propeny is located, In the eventlhat any provision or clause of this Security Instrument or Ihe
<br />NOle conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision, To Ihis end Ihe provisions of this Security Inslrument and the
<br />Note are declared to be severable,
<br />t6. Borrower's Copy. Borrower shall be given one conformed copy of Ihe Note and of this Security Instrumen1-
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pan of the Property or any
<br />interest in it is sold or transferred (or if a benelicial interest in Borrower is sold or transferred and Borrowcr is not a natural
<br />person) without Lender's prior wrillen consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by tbis Security In,trumen1- However. this option shall not be cxercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises Ihis option, Lender srall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the nOlice is delivered or mailed within which Borrower must pay all sums sccured by
<br />Ibis Security Instrumenl, If Borrower fails to pay these sums prior to the expiration oflhis period, Lender may invoke an)
<br />remedies permilled by this Security Instrument withoul fun her notice or demand on Borrower.
<br />II. Borrower's Right to Reinstate. If Borrower meels cenain conditions. Borrower shall have the nghl 10 ha,'e
<br />enfon:ement of this Security Instrument discontinul-d at any time prior 10 the earlicr uf: (a) 5 da)'s (or such olher peru><.l "s
<br />applicable law ma)' specify for reinstatement) before salc of the Propeny pursuanl 10 any power of sale c,,"rained In Ih"
<br />Securily Instrument; or (b) entry of a judgmelll enforcing this Security Instrument. Those conditions arc Ihar Ilorrnwer
<br />{a) pays Lender all sums which then would be due under this Securit). Instrumenl and the Nole had no accclerarlon
<br />ocC'urr~; (b) cures any dcrault of any other covenants or agreements; (e) pays all ex~n~l~ Incurred 111 c.-nft1rclI1l! lhl'
<br />Security Instrumenl. including, but nol limited 10. reasonable allomeys' fees; and (d) lakes ,uch action a, L"llocr may
<br />reasonably requirc to lL"ure that the lien of 11m SecurllY InMmment, Lender's nghts In the Prnpert} and Hnrn'"<"',
<br />obligalion to pay the ,urns secured hy 1111, Securlly Instrument .hall continue unchang,"d l'l'nn relll'llIlemer" h,
<br />Rorrower. thu, Sccuril)' In!ttfumcnl and the: nbhgatlun, \CCured hcrehy !l.hall remam fully crfCI.:tl\l' a__ Ifntl lIl,..:e1cralloll hlhl
<br />occurred HO'Aclrcr, 1hl" nghllo rem\tnlc ,hall Iml apply In Ih(" \.:a~C' of nn:dcrallnn umlt.", rarll~raph... 1 '111 1 i
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