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<br />88- 104048
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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"accordanj:e wilhBQrrower~s llIKl Lender's wrillen agreement or applicable law.
<br />8, Inspecllon. "" Lender Otit~~tidCiitlii\at m,ake reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofoi'pnorto aninilpection specifying reasonable cause for the inspection,
<br />9. Condeml\lltfon. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or olher taking 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 lotaltaking of the Property. the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any CllCesS paid to Borrower, In the event of a partial taking of the Property,
<br />unless Borrower and Lender olherwise 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 tolal amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of Ihe Property immediately before Ihe laking, Any balance shall be
<br />paid to Borrower,
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that Ihe condemnor offers 10
<br />make an award or sente a claim for damages, Borrower fails to respond to Lender within 30 days after Ihe dale the notice is
<br />given, Lender is aUlhorized 10 collect and apply the proceeds, at its option. eitherto restoration or repair of the Property or
<br />10 the sums secured by this Security Instrument, whether or nor then due,
<br />Unless Lendcr and Borrower otherwise agree in writing, any application of proceeds 10 principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Releued; Forbearance By Lender Not a Waiver. EXlension of the time for payment or
<br />modification of amortization of the sums secured by this Security Inslrumenl granted by Lender to any successor in
<br />inlerest 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 against any successor in interest or refuse 10 extend time for
<br />paymenl or otherwise modify amortization of the sum.s secured by Ihis Security Inslrument by reason of any demand made
<br />by the original Borrow!!r or Borrower's successo..... m interesl. Any forbearance by Lender in ellcrcising any right or remedy
<br />,hall not be a waiver of or preclude the ellercise of any right or remedy,
<br />11. S_n and Aulps Bound; Joint lIDd Seyeral lliblllt)': CD-IIIIIDl!n. The covenanls and agreements of
<br />thIS Security Inslrument shall bind and benefit the succeswrs and assigns of Lender and Borrower, subj."Ctto the provisions
<br />of paragraph 17. Borrower's covenants and agreemenls shall be joint and scvero!. Any' Oorrower who co.signs Ihis Security
<br />Instrument hut dOC!! not ellecute the Note: (a) is cn-signing Ihis Securily Instrumenl only 10 mOrlgage. grant and convey
<br />thallklrrowcr's inlt:rcst in the Property under the lerm. of Ihls Securny Inslrumelll; Ib) is nor personally obligated 10 pay
<br />the sums secured by this Securily Instrumelll; and (e) agree> Ihal Lender lInd any Olhcr Borrower may" agrce 10 extend.
<br />modify. forbear or make any accommodations with regard 10 Ihe lerms of Ihis Securily Imlrumcnt or the Note Wilhoul
<br />Ihal Borrower's consent.
<br />12. Loan Cbaraa. Iflhe loan secured by IhlS Securily Inslrument is subject to a law which sels mallimum loan
<br />charges, and Ihat law is finally interpreted so that the intcrest or olher loan dlargL'S collecled or tn be collecled in
<br />connection with the loan ellceed Ihe permilled hmits, then: (a) any such loan charge shall be reduced by Ihe amounl
<br />necessary to reduce the charge to Ihe permilled limil; /lnd (h) any sums already collected from Borrower which e"ceed.-d
<br />permilled limits will be refunded to Borrower, Lender may choose 10 make IhlS rcfund by reducing the principal OWL-d
<br />under the Nole or by making a direct payment to Borrower" If a refund reduces prmclpal. the reduction will be Irealed as a
<br />partialllTCflllymcnl without any prcpaymClII charge under the Nole,
<br />13. l.qlll.llon A.ft'ectlna l_der'1 Rlpb, If enactment or ellpiration of applicable laws has Ihe effect of
<br />rendering any proviSion of the NlIle or Ihi, Security Inslrumenl unenforceable accordll1g In liS tcrms, Lendcr, al ils oplion.
<br />may require immediate payment III full of all sums secured by Ihis Securil) Instrumelll and may invoke any remedio
<br />permilled by pafllgraph 19. If Lender ellerCISCS thts option, Lender shall lake Ihe sleps specified in thc second parograph of
<br />paragraph 17"
<br />14. Notices. Any notIce 10 Borrower proVIded for In this Secunly Instrument shall be given by delivering it or by
<br />mailing it by finot class mall unless appiicable law requlfl:S use of anolher melhod. The notice shall be direcled 10 Ihe
<br />Property Address Many olher address Borrower designalcs by nOlice to Lender. Any nOllce 10 Lender shall be given by
<br />first class mail to Lender's address stated herem or any other address Lendcr designal"" by notIce 10 Borrower. Any nOlice
<br />provided for in Ihis Securily Instrument ,hall be deemed to have been given 10 Borrower or Lender when given as provided
<br />in I his paragraph,
<br />15. GoyemiDII Law; Severabillt)'. TIlls Sccunly Inslrument shall be gmerncd by federal law and the la.. lIf Ihe
<br />jurisdiction in which the Property is located. In Ihe event Ihat any provision or clause of thIS S."Curity InSlmment or the
<br />NOle conllicts with applicable la..'. ~uch conllict shall not affecl other provbions of this Security Inslrumenl or lhe Notc
<br />which call be given effecl withoulthe conllicting provision. To this end the prm"isions Oflhis Security Instrumenl and Ihe
<br />Note are declared to be sevcrable.
<br />16. Borrower'. Copy. Borrower shall be given one conformed copy of the Note and of this Securily Inslrument.
<br />17. Transfer of the Propert)' or a Benefieiallnlecest in Borrower. If all or any parI of the Property or any
<br />inlere.t in it is sold or transferred (or if a bencficial interesl in Borrower is sold or transferrcd and Borrower is nOI a natural
<br />person) wilhoul Lender's prior wrillen consent, Lender may, at ils option, requIre Immediate paymenl in full of all sums
<br />secnred by this Security' Instrumenl. 1I0wever, this option shall not be exell'lsed by Lender if eAcrel!oC is prohIbited by
<br />federal law as of t he dale of this Securily Inst rumen!.
<br />If Lender cllcrcises this option, Lender shall give Borrower notice of acceleration, The nOllce shall provide a penod
<br />of nolless than 30 d.!ys from the datc the notice is dcJhcred or mailed within which Oorrower must pay all sumssccured by"
<br />this Securily Instrumenl. If Borrower fails to pay these sums prior to the expiralion of I his period. Lender may im'oke any
<br />remedillS permitted by Ihis Security' Instrument wilhout further notice or demand 011 Borrower"
<br />11. Borrower'. Rlpt to Relnatate. If Borrower meet, certain condlliolls, Borrower shall havc Ihe ri!lht 10 haw
<br />enfore<mtent of this Security Inslrument discontinued al any lime prior III the earlicr of: (n) 5 days (or such other period a'
<br />applicable law may specify' for relnstatcment) before salc of the Property pursual1l to any powcr of 5.11e contained in 1111'
<br />Security Inslrumenl; or (b) entry' of a judgment cnforcmg this Securily IlIstrument Tho\< condllio", arc Ih,,1 Ilorrowcr
<br />(A) pays Lender all sums whIch Jhen would be due undel' this Sccunt) Instrument and lh,' '<Ole had no a.'cderallon
<br />oC:currcd; (b) cures any" d~faull of 3IIY' other covellanls or agreements; (c) pays all eApens,,, 1Il,'urred In Cllfol<'II1!l th"
<br />Security InstrUml:J\l. l/Iduding, bUI not limited to, reasonable aUorlleys' fees, and (d) lakes ,udl aClion liS Lcndl'r may
<br />reasonably require to assure Ihat the lien of Ihis Securlly lnslrument, Lender', righi' III 'Ill" Property and Borrower',
<br />obliptlOlI 10 pay Ihe sums secured by Ihis Security IlIstrument 'lu.1I cnnllllllc uncllllllg,-d l'pon rCln'talemelll hy
<br />Borrower, thl~ SccurilY Instrument and Ihe obhgalions !oCCured herehy ,hall remain full) dfc.'ll\e a, ,fll(1 a.','derat"", had
<br />"'oCcurred IIm.e"el,lh" nlEhlto rein.tate \hall nor apply- In thc ell..... of .....eekr:lllt1n und,'r I'..ra~r"rl" 110, I'
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