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<br />88-103940
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<br />If Lender required mort:;age insurance as a condition of making the loan secured by this Security Instrumenl,
<br />Borrower shall pay the premiums required 10 main lain the insurance in effect until such time as Ihe requirement for the
<br />insurance terminates in accordance wilh Borrower's and Lender's written agreement or applicable law,
<br />8, Inspeclion. Lender or its agenl may make rea~onable entries upon and inspections of the Property, Lender
<br />shall give Borrower notice althe time of or prior 10 an inspeclion specifying reasonable cause for Ihe inspection,
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequenlial, in connection wilh
<br />any condemnalion or other taking of any part of the Properly, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid 10 Lender,
<br />In the event of a total laking of the Property, lhe proceeds shall be applied to Ihe sums secured by Ihis Security
<br />Inslrumenl, whether or nol then due, with any excess paid to Borrower, In Ihe event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Securily Instrument shall be reduced by
<br />the amounl of the proceeds multiplied by Ihe following fraction: (a) the tOlal amount of the sums secured immedialely
<br />before the laking, divided by (b) Ihe fair market value of the Property immedialely before Ihe taking. Any balance shall be
<br />paid 10 Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender 10 Borrower that Ihe condemnor offers 10
<br />make an award or sellle a claim for damages, Borrower fails to respond 10 Lender within 30 days after the date the notice is
<br />given, Lender is authorized 10 collecl and apply the proceeds. at its option, ell her to restoration or repair of lhe Property or
<br />to the sums secured by this Security Instrument. whelher or nol then due,
<br />Unless Lender and Borrower otherwise agree III writing, any applicalion of proceeds 10 principal shall nOI extend or
<br />poslpone Ihe due date oflhe monthly payments referred 10 III paragraphs I and 2 or change Ihe amount ofsucll payments,
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver, ExtenSIon of the time for payment or
<br />modification of amorli7.alion of the sums secured by Ihts 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 interest.
<br />Lender shall not be required to commence proceedings agalllst any successor III interest or refuse to extend time for
<br />payment or olherwise modify amortization of the sums secured by Ih" Sl"CUnty Instrument by reason of any demand made
<br />by the original Borrower or Borro..'er's successors in inlerest Any forbearance by lender III exercising any righl or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy
<br />JJ. Sucresson and AUlllJls Bound; Joint and Several Liability; Co.sillJlers, The covenants and agreements of
<br />thIS Security Instrument shall bind and benefit Ihe successors and assigns of Lender and Borrower. subject to the provisions
<br />of paragraph 17, Borrower's covenallLs and agreements shall be joilll and seveml. Any Borrower who co-signs Ihis Security
<br />Instrument bUI does not execute Ihe Note: (a) is co-signing Ihis Secunty Instrumenl only to mongage, grant and convey
<br />Ihal Borrower's inleresl in the Pro~rty under the lerms of Ihls Security Instrumenl; (h) i~ ll<ll personally obligated to pay
<br />Ihe sums secured by Ihis Security Instrument: and (c) agrees that lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodallons wllh regard 10 the terms of this Secunty InSlrumelll or the Note withoul
<br />Ihat Dorrower's consenl,
<br />12. Loan Charlle5. If the loan secured by this Secunty Inslrumenl is subjeel 10 a law which sels maximum loan
<br />charges. and that law is finally inlerpreled so thaI the illlerest or olher 10lln charges collecled or 10 be collected in
<br />connection with the loan exceed the permiued limits. then: la) any such loan charge shall be reduced by the amount
<br />oecessary to reduce the charge to the pennitted limit; and (b) any sums already collecled from Borrower which exceeded
<br />pcrmilled limits will be refunded to Borrower. lender may choose 10 make It", refund by reducmg Ihe principal owed
<br />under Ihe NOle or by maklllg a direcl paymelll to Borrower. If a refund reduces pnnclplll, the reducllon will be treated as a
<br />partial prepayment withoul any prepayment charge under the Note,
<br />13, Lealslalion Atrectlnll Lender's Rillhls. If enaclment or eSplratll1l1 of apphcable laws has Ihe effect of
<br />rendering any provision oflhe Note or thIS Securily Instrument unenforcellhle llcconJlIlg hI I" terms, Lender, at its option,
<br />may' requite immediate payment in full of all sums secured by Ih" Seearlly Inslrumenl ,,,,d m"y invoke any remedies
<br />permitted by p"'''graph I Q, If lender exercises this oplion, Lender slllllltake the steps speCified IIllhe second paragraph of
<br />paragmph 17,
<br />14. Nolieell. Any nOlice 10 Borrower prmlded for in thIS Secunty Instrumenl shall he gIven by delivering it or by
<br />mailing II by firsl class mail unless applicable la,.. rcqulres Use of anllther melhod, The IlIlllee shall be directed 10 Ihe
<br />Property Address or any olher address Borrower designales by nollce h' Lender Any nOllee to lender shall be given by
<br />first class mail to Lender's address stuted herelll or any other address I.cnder deSlgnales by nollce to Borrower, Any notice
<br />provided for in Ihis Security Instrumelll shall be deemed In have been g"en to Borrower or I.ender when glYen as provided
<br />IIllhis paragraph,
<br />15. Governing La..; Severability, Th" Securrty Instrument shall he gmerned hy federal law and the law of the
<br />Jurisdiction in which Ihe Property is located, In the event Ihat any proVlSlIlI\ or dause Ill' tl", Sel'urrty Instrument or the
<br />NOle conflicts wilh applicable law. such conflicl shall not affect other PfDvlsions Ill' thIS Secunty Inslrum~nt or the Note
<br />which can be given effecl without the conflIcting prOVISIon To thIS end the pnWls/llns of I Ills SeeUnl} Instrumenlllmllhe
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be gIVen one conformed copy of the Nole and orlhlS Sel'unty Ins/rumel1l
<br />17. TraMfer of the Properly or a Beneficial Interest In Borrower, If all Ilr an} part Ill' the "roperly or any
<br />inlercsl in it is sold or transferred (or if a beneficial interest III Borrower IS sold or lrunsferred and Borrower IS not a natural
<br />pe..on) without Lender's prior wrillen consent, lender may, at ils oplion, requIre Immedlllte payment 11\ full of all SUIIIS
<br />secured by Ihis Security Instrument. However, this opnon shall not be exerCISed oy lender If exercISe IS pn,hlolled hy
<br />federal law as of Ihe date of this Security Inslrumenl.
<br />If Lender exercises this option, lender shall gi,'e Borrower nOlice of acceleralion, The notice shall pnwlde a perrod
<br />ofnotlcss than 30 days from the date Ihe no lice is delivered or majled wilhin which Borrower must pay all sums secured by
<br />IhlS Security Instrument. If Borrower fai" to pay these sums prior to the expIratIOn of Ihls per",d, Lender ma} In"oke any
<br />remedies permilled by this Security Instrument withoul further nollce or demand on Borrower
<br />18. Borrower's Rlllht to Relostllle. If Borrower meets certam condItIOns, Borro..er shall ha'e the nght to ha".
<br />enforcement oflhis Securily Instrument dlScontlnut-d at any time pnor to the emIler Ill' (al 5 days (or slICIt other penod as
<br />applicable law may specify for reimtatcmentJ before sale of the Property pursuant to any power or sale ullltarned IIllh"
<br />Security Instrumen!; or (b) enlry of a judgment enforcing IhlS Securlly Instrument Those conditlollS lire thlll Bormwer
<br />(a) pays Lender all SUlllS wlllch then would be due under this Secunty Instrumenl and Ihe NOle had nil IIc,'deral...",
<br />occ,urred; (b) cures any dcfault of an)' other l.:o..enanh or ngrcc:men1S: (e, pays all c"'ref1'~,,-'" Incurred III cnfilrL'HI~ (hl\
<br />Stc:unty tnstrument~ mcluding. bUI nOl limIted 10, rcar.onable attorney" f("~, and rei) l.skc.. "Udl :ll'tltlTl OJ' l.ender rtla~.
<br />reasonably require to a.\,limrr that rh~ lien of Chili SCl."urity Instrument. Lender', ngh", lrl [he Pnlrnf~ lIud Ht)('J11U.CI"
<br />obligatIOn to pay the ",urns ~~:ured hy 1hls 5<cunl}' rn,trumcnI dlllll Cllnlu1Ut.: unchan~I.."d ('ptlU n.'fT1'lalt'llIcnt h\
<br />Borrower. thi,. Security Instrument mnd the ohltgauun:\ ~ecured hen'h) ..hili I re-mulO rull~ Ctfl'l.'!1\(' "' If nil ;lnTlcr,lllllfl Iud
<br />rrecurred Hn....ncr. thl!' n8h1 In rc1n'\lnlc ,hall noe appl}' In the:' ('ll'C of at'cC'!('JallcHl under parnllraph, I ~ \If I ~
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