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<br />B8- 104028
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<br />If Lender required mortgage insurance as 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 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 Ihe 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 part of the Property, 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, the proceeds shall be applied 10 Ihe sums secured by this Security
<br />Instrument, whether or not then due. with any ellcess paid to Borrower. In the evenl of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in wnting, the sums secured by Ihis Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by Ihe following fraclion: (a) Ihe tOlal amount of the sums secured immedialely
<br />before the taking, divided by (b) the fair market value of the Property immedialely before Ihe laking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if. after nOlice by Lender 10 Borrower that the condemnor offers to
<br />make an award or seule a claim for damages, Borrower fails 10 respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized 10 collect and apply Ihe proceeds. at its option, either 10 restoralion or repair of the Property or
<br />10 the sums secured by Ihis Securily Inslrument. whelher or nOI then due,
<br />Unless Lender and Borrower olherwise agree in writing, any application of proceeds to principal shall not elltend or
<br />postpone the due dale of the monthly payments referred 10 in paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearanee By Lender Not a Waiver. Extension of Ihe time for payment or
<br />modification of amonization of the sums secured by this Security Inslrument granled by Lender to any successor in
<br />interesl of Borrower shall nOI operate 10 release I he liabili I y of I he original Borrower or Borrower's successors in interest.
<br />Lender shall not be required 10 commence proceedings against any successor in interest or refuse to elltend time for
<br />payment or olherwise modify amortization of the sums secured by Ihis Securlly Instrument by reason of any demand made
<br />by the original BorroWer or Borrower's successors in inlerest. Any forbearance by Lender in exercising any right or remedy
<br />shall nol be a waiver of or preclude the ellercise of any right or remedy,
<br />11. Successors and Assl/llls Bound; Joint and Seyeral I.labilit)'; Co-si/lllers. The covenants and agreemenls of
<br />this Security Inslrument shall bind and benefitlhe successors and aSSIgns of Lender and Borrnwer, subjecl to Ihe provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joinl and several Any Borrnwer who co-signs this Security
<br />Instrumenl but does nOI execule the NOle: (a) is co-signing Ihis Security Imtrumenl only 10 mortgage, grant and convey
<br />that Borrower's interest in Ihe Property under lhe terms of this SecurllY Instrument; (h~" not personally obligated to pay
<br />the sums secured by Ihis Security Instrument; and (cl agrees Ihal I.ender and lIny olher Borrower may agree 10 elltend,
<br />modify, forbear or make any aceommodalions with regard 10 the terms of 11m SeL'unty InMrument or the Note wilhout
<br />t hat Borrower's consen!.
<br />12. Loan Charges. If the loan !lCcured by Ihis Secunty Instrumenl IS subJect 10 a law which sels mallimum loan
<br />charges, and that law is finally inlerpreled so that the interL.,,1 or other loan charges collected or 10 be collected in
<br />connecllon wilh Ihe loan ellceed Ihe permitted limits, then: (a) any such loan charge shall be reduced by Ihe amounl
<br />necessary 10 reduce Ihe charge to Ihe permitted limit; and (b) any sums already collected from Borrower which ellceeded
<br />permilled limllS will be refunded to Borrower. Lender may choose 10 make Ihis refund h)' n:ducmg the principal owed
<br />under the Note or hy milking II direct paymenlto Borrower, If a refund reduces principal. the reduclion will be Ireated as a
<br />partial prepayment without any prepayment charge under Ihe Note,
<br />13. l.elllslatlon Alfedlnll Lender's RiRhts. If enaClment or ellpiralion of applicable laws has the elfeCI of
<br />rendenng any proVISion of the Nole or lhis Securi1y Inslrument unenforceable according to Its terms. Lender, at ils option,
<br />may require immediate paymenl in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permllted by paragrnph 19, If Lender ellercises Ihis option, Lender shall take the sleps specifk-d inlhe second paragraph of
<br />parngraph 17,
<br />14. Notices. Any nOliee to Borrower provided for in this Security Inslrumenl shall be given by delivering it or by
<br />mailing it by firM class mail unless applicable law requires USe of another melhod. The nOlice shall be direcled to the
<br />Property Address or any olher address Borrower designatcs by nOllce to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address Slated herein or any OIher address Lender designates by notice 10 Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed 10 have been gi\'en to Borrower or Lender when given as provided
<br />in Ihis paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the eventlhat any proVIsion or clause of this Security Instrument or the
<br />NOle conflicts with applicable law, such conflict shall not affect other provisions of Ihis Security Inslrume"t or the Note
<br />which can be given effect wilhout the conflicting provision. To Ih1S end Ihe provisions of Ihis Security Instrument and the
<br />Note arc declared to be severable.
<br />16. Borrower's Copy. Borrower shall be gii/en one conformed copy of the Note and of lhis Security Instrumel1l,
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interesl in il is sold or transferred (or if a beneficial interesl in Borrower is sold or transferred and Borrower is nol a nalural
<br />person) without Lender's prior written consent, Lender may, at its oplion, require tmmediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be ellercised by Lender if ellercise is prohibiled by
<br />federal law as ofthe date of this Security Instrument.
<br />If Lender ellercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from Ihe dale Ihe notice is delivered or mailed within which Borrower must pay 1111 SUIllS secured by
<br />this Security Instrument. If Borrower fails to pay these sums pnor to lhe ellpirallon of this period, Lender may invoke any
<br />remedies permiued by this Security Instrument without further nolice or demand on Borrower,
<br />18. Borrower's RIRht to Relnslate, If Borrower meets certain conditions, Borrower shall havc Ihe right 10 have
<br />enforcement of this Securily Instrument discontinued at any time prior 10 the earher of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstalement) before sale of the Propeny pursuanllo any power of 'Ilk- cnntllll1ed 111 th"
<br />Security Instrumenl; or (b) entry of ajudgmenl enforcing this Securily Instrumel1l, Those condition, lire Ihal Borrower
<br />{a) pays Lender all sums which then would be due u:1der this SeCUr1ly Instrument and the Nule hlld nu IIc,'deralion
<br />occurred; (b) cures any default of any olher covenants or agreemenls; (c) pays all cxpcnsC\ II1curred in cnforcing thts
<br />Securily Instrument, including, but not limited 10, reasonable altorneys' fees; and (d) lakes such aclillll as Lender may
<br />reasonably require 10 assure Ihal the lien of th;,~ Securily Inslrument, Lender" rlghls In Ihe Properl) and nurruwer',
<br />oblillGlion 10 pay the sums secured by this Security Inslrument shall conllllue undlllnged, Upun rClIIslalemenl 11)
<br />Borrower. this Sccunly Instrumenl and the obligations secured hereby shull relllalll fully elfecl.\'C as If nil aL'cderal1lln hod
<br />occurred However, this nghllo reinslale shall not apply in Ihe case of acceleratIon under paragraph, 11 III 17
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