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<br />88_ 104170
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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 ~he premiums required to maintain Ihe insurance in effect until such time as the requirement for the
<br />insurance terminates in accordllncewith Borrower's and Lender's wrillen agreement or applicable Jaw.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of Ihe Preperty. Lender
<br />shall give Borrower nolice at the time of or prior to an inspection specifying reasonable cause for lhe inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages. direcl 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 to Lender.
<br />In the event of a total taking of the Property, Ihe proc'eeds shall be applied t" the sums secured by this Security
<br />Instrument. whether or nOI then due. with any excess paid to Borrower. In the event of a partiat taking of the Properly,
<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 laking. divided by (b) the fair market value of the Property Immediately before the 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 the condemnor offers 10
<br />make pn award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the dale Ihe notice is
<br />given. Lender is authorized to collect and apply the proceeds, at liS option, either to reSlclratlon or repair of the Properly or
<br />to the sums secured by this Securlly Instrument, whether or not Ihcn due.
<br />Unless Lender and Borrower otherwlsc agree m wnting. .IIlY application ofprocceds to principal 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 amortizalion of the sums secured by this SCCUrIty Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate 10 rei case thc Iiabillly of the onginal Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence pTllceedlngs agamsl any successor in interest or refuse to extend time for
<br />paymcnt or otherwise modify amOTllzallon of the sums secured by tillS Security Instrument by reason of any demand made
<br />by the origmal Borrower or Borrower's successors III II1ter.,.,,1 An~ f<1rbearance by lender in exercising any right or remedy
<br />shallnol be a waiver of or preclude the exerClse Ilf ilny nghl or remedy
<br />11. Successors and Assigns Bound; Joint and Se,eral Lillbilit}.; Co-signers. The covenants and agreements of
<br />this Securit~' Instrument shall bind and benefit the successors and assigns <1f Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenanls and agreements shall be JOlllt and several. Any Borrower who co-signs this Securit)'
<br />Instrumenl but does not execute the Note: (a) is co-slgnll1B tillS Secunty Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms nf Ihls Secuflty Instrumenl; (b) IS not personally obligated to pay
<br />the sums secured by this Security Inslrument; and (c) agrees that lender and any III her Borrower may agree to extend.
<br />modify. forbear or make any accommodatIOns With regard 1<1 the tern" of Ihls Secunty Instrumenl or the Note without
<br />thai Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Securlly Instrument IS subject 10 a law which sets maximum loan
<br />charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connectIOn with the loan exceed the pernl1ucd limils. then (a) any such 10iln charge shall be reduced by the amount
<br />necessary to reduce Ihe charge to the pemliued limll; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this fl.-fund by reducing the prinCipal owed
<br />under the Note or by making a direct paymenltO Borrower. If II refund reduces pnnclpal, Ihe reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Aft'ec:ting Lender's Rights. If enactment or explralJon of applicable laws has the effect of
<br />rendering any provision of the Note or Ihis Security Instrumenl unenforceable according 10 ils lerms. Lender. al its option,
<br />may require immediate payment In full of all sums secured by tillS Securlly Instrument and lIIay II1voke any remedies
<br />permiued by paragraph l'l. If Lender exercISes thiS option. Lender shall take the steps speCIfied in Ihe second paragraph of
<br />paragraph 1 7.
<br />14. Notiees. Any nolice l<1 Borrower prcl\'ldcd for 111 this Securlly Instrulllent shall be given by dehvenng 11 or by
<br />mailing it by first dass mail unless applicable law rcqulrL'S use of another meth<1d. The notice shall be direcled to the
<br />Property Address or any other address Borrower dL"Slllnates by notice t<1 Lender. Any notice 10 Lender shall be given by
<br />first class mail to Lcnder's address slated herell1 or any other address Lender deslgnalcs b} nOlice to Borrower. Any notice
<br />provided for In this Security Instrument shall be deemed to have been given to Bormwer nr Lender when given as pro\'ided
<br />III thiS paragraph.
<br />15. Governing Law; Severability. ThiS Securlly Instrument shall ne gnverned by federal law and the law of Ie
<br />jurisdiction in which the Property is located. In the evenl that any prnVlSlllll or clausc of tillS Sccunty Instrumcnl or Ihe
<br />Note conflicts with applicable law, such conflict shall not affect nther prOVISionS of this Security Inslrulllent or the NOle
<br />which can be given effect withoUllhe conflicting provision. To tillS end the prcwlSions of Ihls Secunty Instrument and Ihe
<br />Note are declared 10 be severable.
<br />16. Borrower's Copy. Borrower ,hall be gIVen one conf<1rmed copy of the N<1te and of this Security Instrument.
<br />17, Transfer of the Property or a Benefielal Interest in Borrower, If all or any part of the Property or any
<br />interest in il is sold or transferred (or if a bcneficliIl inleresl in Borrower IS s<1ld or lransferred and Borrower IS not anatuml
<br />person) without Lender's prior wriuen consent, lender may, at its Opllllll, requIre Immediate payment In full of all ,ums
<br />o;ecured by this Security Inslrumenl. However, this optIOn shall nol be exerCised by Lcndcr if excrclse is prnlublled n\
<br />federal law as ,.flhe date of this Security Instrumcnl.
<br />If Lender exercises lhls option. Lender shall gi~'e Borrower notice of aCl'eleratl<lIl. The notice shall prnvlde a penod
<br />of notle~s than 30 days from the date the notice is delivered or mailed within Whldl Borrower must pay all sums sec'ured by
<br />tIllS Security Inslrument.lfBorrower fails 10 pay thL"Se ,urns pnor 10 the expirallon of this peruKi, Lender may 1I1\'okc any
<br />r~medies permiued by this Security Instrument wilhout further notice or demlmd on Hnrrowcr
<br />18. Borrower's Right to Reinstate. If Horrower meels certain conditions, Borrower ,hall hu\'e tlie n~ht to haH'
<br />enforcement ofthi5 Securily Instrumenl discontinued ul any lime prior lolhe curlier of In) 5 duys lor such .,Ih,', pC'rlod "s
<br />applicable law may specify for reinstalemenl) hcfore sale of Ihe Properly pursuant touny power of sule n\nl<lllwd In lh"
<br />Security Instrument; or (b) enlry of II judgmenl enforcing thIS Security Inslrumenl Those condlllCHls '"l' Ih"l 110","',"
<br />fa) pays Lender ull sums which then would l1e due under II1Is Security Inslrumenl and Ihe Noh' had "" lit. "I", III..",
<br />occurred; (h) cures any defaull of any other l'ovenants or agreemenrs; (c') pays all e.\l'en\,'s In,'urn't1 I" ",,1"'1 '''~~ 1111'
<br />SecurilY Imlrument, IIlcluding, but not limited 10, rcasonable UllOmey,' recs. and (d) lukl', ,ud, u. II.'" II' 1,.",1... "''''
<br />reasnnllhly rellurrc lous,ure Ihat the lien of thIS Security Inslrument, lender', rI~hh In I!'" 1""1"'11' "".I II"""",., ,
<br />IlhhgllllCHl In i,ay the sum, secured hy thiS Security Inslrumenl ,hnll ,'o"IUlue lI"chal1~nt I 1'.." "."""",."".", 1\
<br />Borrower, thl\ St"l'llrll) In\lrurnrnl and Ihe Ilhltgutlon... ,ecurC"l! llC.'rd,~ ..hllll rer11.1I1l full~ ('flel' 1\" "... II Ill' ,II \ I'll I ,II!I 'II h.,d
<br />ol'(;urn'd Hll""l....er, 1hl\ nght 10 n:lfl\tatl" ,hall no' nppl) It! ,hl' t. 0-1'(' II( 1Il'lI'kl ill H 111 IIlHkl r',II.I~:r ;ll'h', 1 I I" I"
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