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<br />88- 104018
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<br />If lender required mortgage insurance as a condition of making lhe loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required 10 maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and lender's wrillen agreement or applicable law.
<br />8. Inspection. lender or its agent may make reasonable entries upon and inspections of the Pmperty. 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 part of the Property, or for convey:mce in lieu of condemnation, are hereby
<br />assigned and shall be paid 10 lender.
<br />In the event of a 10laltaking of the Property, Ihe proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any ellCCSS 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 fraClion: (a) Ihe tOlal amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immedialely before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property IS abandoned by Borrower, or if, afler nOllce by Lender 10 Borrower rhat lhe condemnor offers to
<br />make an award or sellle a claim for damages. Borrower fails to respond to lender within 30 days after the date the notice is
<br />given, Lender is authorized 10 collecl and apply the proceeds, al its oplion. eilher to resloralion or repair of lhe Property or
<br />to lhe sums secured by this Security Inslrument, whether or nOllhen due,
<br />Unless Lender and Borrower otherwise agree in wriling, any application of proceeds to principal shall not elltend or
<br />postpone the due date of the monthly payments referred 10 in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forburllllce By Lender Not a Waher. Extension of the time for payment or
<br />modilicalion of amortization of the sums secured by this Securily Instrument gran[cd by lender to any successor in
<br />interest of Borrower shallnol operate 10 release the liabilHy of the origmal Borrower or Borrower's successors in interest.
<br />Lender shall nol be required to commence proceedings agomst any succcssor m inlerest or refuse 10 eXlend lime for
<br />payment or otherwise modify amortization of the sums secured by IhlS Securily Instrumenl by reason of any demand made
<br />by the original Borrower or Borrower's successors in interesl, Any forbearance hy Lender m nercisinll any right or remedy
<br />shllll not be a waiver of or preclude the exercise of any right or remedy
<br />11. Sueceuonr and Asslps Bouad; Joint and Several liability; Co-s1Ilners. The covenanls and agrecments of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subjecllo Ihe provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be Joint and several. Any Borrower who co-signs this Securily
<br />Inslrumenl but does nOI ellecule lhe Note: (a) IS co-sigmng this Security Instrument only [0 mongage, granl and convey
<br />Ihat Borrower's interest in the Propeny under Ihe terms of this St'Curlly Instrument; (b) is nol personally obligaled 10 pay
<br />Ihe sums secured by this SecurilY Instrument; and (c) agrees lhal Lender and any other Borrower may agree to extend.
<br />modify, forbear or make any accommodalions wllh regard 10 the terms of IIl1s Security Inslrumentor the Nole withoul
<br />thaI Borrower's consent.
<br />12, Loan Charles. If the loan secured by Ihis Securlly Inslrument IS subJt'CllO a law which sets maximum loan
<br />charges, and thai law is finally interpreled so lhat the interesl or olher loan charges collccted or 10 be collecled in
<br />conneclion with Ihe loan eJlceed Ihe permllted limits. then, la) any such loan charge shall be reduced by the amount
<br />neces.'lary to reduce the charge 10 lhe permilled limit: and (b) any sums already collected from Borrower which exceeded
<br />permilled limils will be refunded to Borrower, lender may chOO!ie to make thiS refund by reducing Ihe principal owed
<br />under Ihe NOle or by making a direct payment to Borrower, If a refund reduces pnncipal. thc reduction will be treated as a
<br />panial prepaymenl without any prepaymenl charge under Ihe NOle,
<br />13. l.ealslatlon Aft'ectlnll Lender's Rlaltts. If enaclmenl or expiratiOn of applicable laws has Ihe effeCI of
<br />rendering any prm"slon oflhe Note or Ihis Secunly Inslrument unenforceable according to its terms, Lender. alllS option,
<br />may require immt-dlllle payment In full of all sums secured by th" Secunty Instrumenl and may Invoke any remedies
<br />permilled by parllgraph Iq If Lender eAen;ises Ihis option, Lender shall take th~ steps speCIfied In Ihe second paragraph of
<br />paragraph 17,
<br />14, Notices. Any notl.:e 10 Borrower prm'lded for IOlhls Secunty Instrumcll1 shall be given by dehvering II or by
<br />mailing il by firsl cia" mall lInlcs., applicable law requIres use uf anolher method, The notice sball be dIrected 10 the
<br />Propeny Address or any olher addrt." Borrower designales by notIce tll Leoder Any nmice to Lender shall be gIven by
<br />lirsl class mall 10 lender's addres.s stated herein or any other addre" Lender designates by notIce to Borrower, Any nOllce
<br />provided for In Ihis Security Inslrumenl shall be deemed 10 have lx'en gIven to Borrower or Lender when givcn as proVided
<br />IOlhis paragraph,
<br />15. Governlnll Law; Severability. This Secunty Instrument shall be governed by federal law and the law of the
<br />Junsdlction in which the Property is located, In the evenl that any proVision or clause of tbls Secunty Instrument or Ihe
<br />Note conflicts wilh applicable law, such conflict shall not aft'ect olher prO\'lSions of this Security Instrument or the Note
<br />which can be given effect without the conflicting proviSion, To Ihis end the provisions of this Security Instrument and Ihe
<br />NOle are declared 10 be severable.
<br />16. Borrawer's Copy. Borrower shall be given onc conformed copy of Ihe Note and of this Security Instrumenl
<br />17. Tl'lInsfer of the Property or a Beneficial 'Interest in Borrower. If all or any pan of Ihe Property or any
<br />Illterest in it is sold or transferred (or if a benefiCIal Illlerestlll Borrower is sold or Iransferred and Borrower 1\ not a natural
<br />person) wilhout Lender's prior 'ninen consent. Lender may, at Its oprion. requIre immediale payment in full of all sums
<br />secured by' this Security Instrument. However, Ihls option shall nol be exercised by Lender If eACrClse 1\ prohiblled by
<br />federal law as of the date of this Security Inslrumenl
<br />If Lender exercises this oplion. Lender shall gl \'e Borrower notIce of accderatlOn, The nollce shall provide a period
<br />of not less tholn JOdays from Ihe dale Ihe nOlice IS delivered or mailed wi[lun which Borrower must pay all sums secured by
<br />IhlS Security Instrument, If Borrower fails \0 pay these sums prior to the expirallon ofrlll5 pellod, lender may Illvoke any
<br />remedies permilled by this Security Instrument without further notice or demaud on Borrower
<br />II. Borrower', Rlahl to Reinstate. If Borrower meels cenain conditions, Borrower ,hall have the nght \0 11l1\'e
<br />enrorcemmt of Ih~ Security Inslrumenl discontinued al any lime prior 10 Ihe earlier of (a) 5 days (or such olher penod as
<br />applicable law-may specify for reinstatement) before sale of lhe Properly pursuant 10 any power of sale l"lmlallled In IhlS
<br />Seeurily Instrument; or ib) entry of a judgmenl enforcing thIS Security Instrument. Thuse condlllons arc Ihat Borrower
<br />(a) pays Lender all sums which then would be due under this SecurilY Instrumenl and the Note had nu a.:cderatlon
<br />occurred; (b) curer; any default of any other co\,enants or agreements; (c) pa)'s all .<penses IIlcurrcd III en for.,,"!; th"
<br />Security Instrumenl. Ineluding, bUI not IImlled to. reasonable altorney' fees, and ld) lakes such action lIS lender OIa)
<br />reasonahly require In a"ure that the lien of Ihis Security lnslrumenl. lender', rights Ir. Ihe I'mpert\ and Ilnm.we",
<br />oblll!Dllon 10 pay lhe sums secured by thiS Sel:uril) Instrumenl shall conllllue unchallged ('1'011 "'111 ""I"l11ell 1 h\
<br />Borrnwer, tl"s 'iecUIII) h."rumenl and Ihe ohllgatlons set'ured herehy shall remalll full) elTer11\ C 'IS ,fll" ",n'lcrillh'" had
<br />....:currt"d Ho"",e"\'("r. rht, nghc to reJn!\la1~ '\hall not apply In rhe \':a'\(' (Ir acn~lcratll\n tllldcr paraJ!rarh... 1 t I~r 1 i
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