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<br />88- 104084
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrumenl,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as Ihe 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 the Prcperly, 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 I)r 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 to Lender,
<br />[n the event of a total laking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not 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 Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) Ihe fair markel value of the ProperlY immediately before the taking. Any balance shall be
<br />paid 10 Borrower,
<br />If the Property 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 collect and apply the proceeds. at its option, either to 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 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 Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this 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 against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument 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 />shall not be a waiver of or preclude the exercise of any right or remedy,
<br />11. SU<<eSlOR and Assigns Bound; Joint and Several Liability; Co-slgnen. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but docs not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's inlerest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of Ihis Security Instrument or the Note without
<br />that Borrower's consent,
<br />12, Loan Charges. If the loan secured by this Security Instrumenl is subject 10 a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or olher loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the pennitted limit; and (b) any sums already collt:eled from Borrower which exceeded
<br />permitted limits will be refunded to Borrower, Lender may choose to make Ihis refund by reducing Ihe principal owed
<br />under the Note or by making a direct paymenl to Borrower, If a refund reduces principal, the reduclion will be treated as a
<br />partial prepayment without any prepayment charge under the NOle,
<br />13. Legislation Affecting Lender's Ripts. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Nole or Ihis Security Instrument unenforceable according to ils lerms, Lender. at ils option,
<br />may require immediate payment in full of all sums secured by Ihis Security Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender exercises this option, Lender shall take Ihe steps specified in Ihe second paragraph of
<br />paragraph 17,
<br />14. Notices. Any notice to Borrower provided for in Ihls Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method, The nOlice shall be direcled 10 the
<br />Property Address or any other address Borrower designates by notice to Lender, Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice 10 Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given 10 Borrower or Lender when given liS provided
<br />in this 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 localed, [n the evenlthat any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law. such contlict shall not affect other provisions of Ihis Security Instrument or the NOle
<br />which can be given effect without the conllicting provision, To this end the provisions of this Security Instrumenland the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of Ihe Note and of this Securily Instrumenl,
<br />17. Transrer or the Property or a 8eneficiallnterest in Borrower. If all or any part of the Properly or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nota natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Securily Instrument. However. this option shall nOI be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument,
<br />If Lender exercises this option, Lender shall give Borrower notice ofacceleralion, The notice shall provide a period
<br />of no I less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to Ihe expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notIce or demand on Borrower.
<br />18. Borrower's Rlpt to Relnstale. If Borrower meets certain conditions, Borrower shall have the righl to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such olher penod as
<br />applicable law may specify for reinstatemenl) before sale of the Property pursuanl 10 any power of sale contained in thiS
<br />Security Instrument; or (b) entry of a judgmenl enforcing this Securily Inslrument. Those conditions arc Ihal Borrower
<br />(a) pays Lender all sums which then would be due under Ihis Secunly Instrument and the Nole had no acceleratHm
<br />, occurred; (b) cures any defaull of any other covenanlS or agreements; (cJ pays all expenSl." IIIcarred III enforclIIg 11m
<br />Security Instrument, including, but not limited to, reasonable allorneys' fees, and (d) tnk", 'I"h acllon us Lender may
<br />reasona:bly require 10 assure that Ihe lien of this Security Instrument, Lender's nghts III the Propeny and Borwwer's
<br />obligation to pay the sums secured by thiS Security Inslrumenl shall conllllue unchanged l'pon rcinstatement by
<br />Borrower, Ihis Securily Instrument and rhe obligatIOns secured hereby shall remain fully effecll\e as ,f'H' accrlcrath'n hud
<br />occurred, However, IhlS nghtlO reinstale shall not apply in rhc casc of acceleratIon undcr i'umgmphs 110r 17
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