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<br />88-104177
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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 termipates 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 Prc.perty. 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. 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 lhe 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 the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in w,riting, 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) the fair market value of the Property immediately before the taking. 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 to
<br />make an award or settle a claim for damages, Borrower fails to respond 10 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 nol 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; Forbearanee 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 inlerest or refuse to extend time for
<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 />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />II. Su<<essors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefitlhe 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 does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and c(lnvey
<br />lhat Borrower's interest in the Property under the terms of this Security Instrumenl; (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 this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which selS maximum toan
<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 permitted limits. then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal. the reduction will be treated as a
<br />partial prepaymenl without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of appticable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender. al ils option,
<br />may require immediate payment in full of all sums secured hy this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall lake the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice 10 Borrower pnlVlded f(lr 111 thiS Security Inslrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower deslgnat.es hy notice to Lender. Any notice to Lender shall he given by
<br />first class mail 10 Lender's address stated herein or any olher address Lender designalcs by nollce to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed 10 have heen given 10 Borrower or Lender when given as provided
<br />in this paragraph.
<br />IS. Governing Law; Severability. This Security Inslrumenl shall he governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the eventlhal any provision or clause of Ihis Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall nOI affecl other provisions of lhis Security Instrument or the Note
<br />which can be given elfecl without the conflicling provision. To this end the provisions of this SecurilY Instrument and the
<br />NOle are declared to be severable.
<br />]6. Borrower's Copy. Borrower shall be given one conformed copy of the Nole and of this Security Instrumen1.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of lhe Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nOI a nalUral
<br />person) wilhout Lender's prior wrillen consenl, Lender may, at liS option, require immediate paymentm full of all sums
<br />secured by this Security Inslrument. However, this option shall not he exercised by Lender if exercise is prohihited ,,~
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises lhis option, Lender shall give Borrower nollce of accelemtion. The nOlice shall pmvide a pem'd
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured hy
<br />thIS Security Instrument. If Borrower fails to pay these sums prior to the explfallon of tillS period, I.ender may Invoke any
<br />remedies permilled by this Security Inslrumenl without further notice or demand on Borrower,
<br />18. Borrower's Right to Reinstate. If Borrower meets certam conditions, Borrower shall have the nghl 10 have
<br />enforcement of this Security InMrument discontinued at any time pnor 10 the earher of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) hefore sale of the I'wperty rursuant tClllny power of sale cnntamro III tl",
<br />Security Instrument; or (b) efUry of a judgment enforcing Ihis Security Instrument Those cClndll1<1I1S are thaI Borrower
<br />(a) pays Lender 1111 sums which then would be due under tillS Security Inslrument amI thc NOle had no lIl'\'clerutnlll
<br />occurred, (b) cures any deflluH of any other cm'enants or agrecments. (c) ray's all <'\I'cnscs IIKurrl'd III l'nflll'l'lIll! Ihl'
<br />Security Instrument, including, but not hnlllcd tll, rellsonable attllrncy" fecs. rlllll Id) IIl"-'"' '"l'h 'Kill'" '" tl"ndn "H'Y
<br />rcaSlmably rcqUlre 111 assure thai the lien of tillS SecurilY Ins1rurnenl. l.el1lkr', "phts In Ihc I'n'l','rl\ Ilnd B'lnn",""
<br />obligation to I'uy the sums 'cl'ured hy Ih1' Securtty InstrumcIII shall l'C1I1I1I1U,' Ulll h'lIl/lcd 1'1',,11 l<'II"lal,'I11<'1\1 h,
<br />DClrro....er.lhl., ,",C':Ul1ly III\trulllcnllll1d Ihc nhligatlo'" 'ccured Ill'reh) ,hall ""1111111111111\ l'll,', 11\" ii' II"l' iI"Tk,alh'" had
<br />I'<.:curr~d Hn" r\t'r, Ihl\ n~h1 t(l rrul,lulr \hall nnl rlpph IflllH' l u...e of at'~ (0 It', 11111111 IIlltkr palll~' :ll'h.. I 1 IIf 1'"
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