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<br />88--:1.04082
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<br />If Lender required mortgage insurance as a condition of making the loan sccured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effecl until such lime as the requirement for the
<br />insurance terminales 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 Prcperty, Lender
<br />shaH 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 licu of condemnation, are hereby
<br />assigned and shaH be paid to Lender.
<br />In the event of a total taking of Ihe Property, the proceeds shaH be applied to the sums secured by this Seeurity
<br />Instrument, whether or not then due, with any excess paid 10 Borrower. In thc event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrumenl shaH be reduced by
<br />the amount of the proceeds muhiplied by the foHowing 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 Ihe Properly 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 coHeet and apply the proceeds, at its option, eitherto restoration or repair of the Property 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 pnncipal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver, Extension of the time for payment or
<br />modification of amortization of Ihe sums secured by this Security Instrument granted by Lender to any succes.o;or 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 against any successor in interest or refuse to extend time fur
<br />payment or otherwise modify amortization of the sums secured by thIS Security Inslrumenl 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 />shaH not be a waiver of or preclude the exercise of any right or remedy,
<br />11. Successors and Assigns Bound; Joint and Several Liabilit)'; Co-signers. The cQ\'enants and agreements of
<br />this Security Instrument shaH bind and benefil the successors and assigns of Lender and Borrower, subjeetto the provisions
<br />of paragraph 17, Borrower's covenants and agreements shall be joinl and several. Any Borrower who co-signs this Secunty
<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 Ihe Property under lhe terms of this Security Inslrumenl; (b) is not personally obligated to pay
<br />the 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 accommodations wilh regard to the terms of this Secunty Instrument or the Note without
<br />that Borrower's consent.
<br />12, Loan Charges. Iflhe loan secured by this Secunty Inslrument is subject 10 a law which sets maximum loan
<br />charges, and that law is finally interpreled so that the interest or other loan charges collected or to be collected in
<br />connection wilh the loan exceed the permitted limits, then (a) any such loan charge shall be reduced by Ihe amount
<br />necessary to reduce the charge to lhe permitted limit; and (b) any sums already callecled from Borrower which exceeded
<br />permilled limIts will be refunded 10 Borrower, Lender may choose to make thIS refund by reducing the principal owed
<br />under lhe Note or by making a direct payment to Borrower. If a refund reduces pnncipal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note,
<br />13. Legislation Affecting Lender's Rights, If enactment or expiration of applicable laws has the effect of
<br />rendenng any provision of the Note or thIS Security Instrument unenforceable accordIng 10 Its terms, Lender. at its opllon,
<br />may require iInmediate payment In full of all sums secured oy IhlS Sccunty Instrument and may Invoke any remedies
<br />permllled by paragraph 19, If Lender excrclses Ihls optIOn, Lcnder shall lake thc steps specified in the second paragraph of
<br />paragraph 17,
<br />14, Notices. Any nOl;ce to Borrower proVided for In thIS Secunty Instrument shall be given oy dehvenng It or by
<br />mailing it by first class mail unless apphcable law requires use uf another method, The notice shall be dIrected to the
<br />Property Address or any other address Borrower designates by notlcc to Lender Any notice to Lender shall oe gl\'en by
<br />first class mail to Lender's address stated herein or any other addr~"Ss Lender designates by nollce to Borrower. Any nOllce
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as proVIded
<br />in this paragraph,
<br />15. Governing Law; Snerabilit),. This Secunty Instrument shall bc governed by federalla" and the la" of lhe
<br />Jurisdiction in which the Property is located, In the event that any prm'lsion or clause of thIS Secunty Instrument or the
<br />Note conflicts with applicable law. such conflict shall not affect other pro\'lsions of this Secunty Instrument or the Note
<br />which can be gis'en effect without the conflicting provision, To IhlS end the provisions of this Secunty Instrument and the
<br />Note are declared to be sC"erable,
<br />16, Borrower's Copy. Borrower shall be glYen one conformed copy of the Note and of this Secunty Instrumen\.
<br />17. Transfer of the Propeny or a Beneficial Interest in Borrower, If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial inlerest t;1 Borrower IS sold or transferred and Borrower is not a natural
<br />person) without Lender's prior wrillen consent, Lender may, al Its option. require immediate pay'ment In full of all sums
<br />secured by this Security Instrument, However, thiS option shall nol oe exercised oy Lender If exercise IS prohibited oy
<br />federal law as of the date oflhis Security Inslrumen\.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration, The no\lce shall provide a period
<br />ofnoltess than 30days from the date tbe notice is delivered or mailed within which Borrower must pay all sums set:ured oy
<br />this SecurilY Inslrumen\. If Borrower fails to pay these sums pnor to the expIration of thIS period, Lender may Invoke any
<br />remedies permitted by this Security Instrumenl without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Horrower shall have the nghl to h,ne
<br />enforcement of this Security Instrument discontinued at any time prior to the earher of (a) 5 days (or such other p<.llld as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power llf sale cllntaIned In thIS
<br />Security Instrument; or (b) entry of a judgment enforcing thIS Secunty Instrument Those condlllons lIrt' that Ik.rrower
<br />(a) pays Lender all sums which then would be due under this Security Instrument and tbe NOle had nll acceleration
<br />'occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses Incurred In enfornn!,: tlm
<br />SecurilY Instrument, Includmg, out not hmited to. reasonable allorncys' f""" and Id) oakes ,lid, aetlpn as Lender may
<br />reasonabl, reqUIre 10 "-,,ure thaI the lien of th" Security' Instrument. Lrnder', nj!hts In Ihr Propert} and nnrTl'wcr',
<br />obligation 10 pay the sums \ecured oy IhlS Security In\trument ,hall e"ntmur undlllllj!l'd \'p,'n fl,,,,,till el1lcnt hy
<br />Borrower. Ihl\ ~cunl)' Im..trumcn1 and Ihe ohlt~ation' secured hcre-hy ...hall rem.un full) cfTcl'll\ l' .1" If 111\ ;ll'\.TIt'1 alhlfl hold
<br />flCcurrl~ Howc\'c:-r. thl' nghl to n:1n'talc ...hall not arpl~ In 1he" ca,{' llf accclC'rilllllfl under paraparh.. I ~ III 1'"
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