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<br />88- 104205
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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 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 Property. Lender
<br />shall give Borrower notice at the lime 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 consequenlial, 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 total taking of the ProperlY, the proceeds shall be applied to Ihe sums secured by Ihis SecurilY
<br />Instrument, whether or nOI then due, with any excess paid to Borrower. In the evenl 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 />Ihe amounl of the proceeds multiplied by Ihe following fraclion: (a) the Iota I amounl of the sums secured immediately
<br />before Ihe laking. 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 Ihat Ihe condemnor offers to
<br />make an award or seule a claim for damages, Borrower fails to respond to Lender within 30 days after the dale the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at ils option, either to restoralion or repair of the Property or
<br />10 the sums secured by this Security Instrumenl, whether or not then due,
<br />Unless Lender and Borrower otherwise agree in wriling, any application of proceeds to principal shall not extend or
<br />poslpone the due dale of the monthly payments referred 10 in paragraphs I and 2 or change the amounl of such paymenls.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of Ihe lime for paymenl or
<br />modificalion of amorlization of the sums secured by Ihis Securily Instrument granted by Lender 10 any successor in
<br />mlerest of Borrower shall not operale to release Ihe liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings againsl any successor in interest or refuse to extend lime for
<br />payment or otherWise modify amortization of the sums secured by this Security Instrumenl by reason of any demand made
<br />by the original Borrower or Borrower's successors in inleresl. Any forbearance by Lender in exercising allY right or remedy
<br />shall not be a waiver of or preclude t he exercise of any right or remedy.
<br />11. Successors Ilnd Assigns Bound; Joint and Several Liability; Co.signers. The covenanls and agreements of
<br />thiS Security Inslrumenl shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions
<br />of paragraph 17, Borrower's covenanlS and agreemenls shall be joint and several. Any Borrower who co-signs Ihis Security
<br />Instrumcnl but does nOI execllle the Note: (a) is co.signing this Securily InSlrument only 10 mortgage. granl and convey
<br />Ihat Borrower\ mterest inlhe Property under the terms of this Securily Inslrument; (b) IS nol personally obligaled to pay
<br />the surn~ secured by Ihls Secunty Instrumenl; and (e) agrees Ihat Lender and any other Borrower may agree 10 eMend.
<br />modify, forbear or make any' accommodallons wilh regard In the lerms of Ihis Secunly Instrument or Ihe NOle withoul
<br />Ihat 8orrower'~ conscn!.
<br />U, Loan CbarKeI. If the 10lln secured by Ihis Secunty Inslrument is subjecllO a law which sets maximum loan
<br />charges. and Ihat law is finally Interpreled so that Ihe IIlle!"est or ,)ther loan chargL'S collected or 10 be collected in
<br />connectIOn With the loan exceed the permiued limits. Ihen: (a) any such loan charge shall be reduced by Ihe amounl
<br />neccssary 10 redUL'e the charge to the permillL-d limit; and (b) any sums already collecled from Borrower which exceeded
<br />permilled limits WIll be refunded to Borrower. Lender may choose 10 make Ihis refund by reducmg the principal owed
<br />under Ihe Nole or by making a dircel paymenllo BOrrower. If a refund reduces principal. the reduclion will be Irealed as a
<br />partial prepaymenl without any prepayment charge under Ihe NOIe.
<br />13, LeRislation AffectinK Lender's Rillhts. If enactmenl or explralion of applicable laws has Ihe effecl of
<br />rendering any proVision oflhe NOle or Ihis Secunty Instrumenl unenforceable according to Its lerms, Lender. al ilsoplion.
<br />may' require immediate payment in full of all sums secured by tillS Secunty Instrument and may invoke any remedies
<br />permitted by paragraph I'l. If Lender exerCISl'S Ihis oplion. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17
<br />14, Notices. Any nOllce tn Borrower proVIded for In IhlS Secllrlly Instrumenl shall be given by delivering II or by
<br />lIlalllllg II by first c1a.ss mail unless applicable law requires use of another melhod. The nollce shall be directed to Ihe
<br />Pruperty Addrcss or any other address Borrower deSignates by nOlice to Lender. Any notice 10 Lender shall be given by
<br />tint class mUll 10 Lender's addrcss staled herem or any other address Lender deslgnales by nOllce to Borrower. Any nOllce
<br />proVIded fi.lr m 11m SecuTlly Instrumenl shall be deemed to hal'e been given 10 Borrower or Lender when given as provided
<br />m tillS pamgraph.
<br />15. Governing Law: Severability. This SecurllY Instrument shall he governed hy federal law and the law of the
<br />junMilcllon 111 winch Ihe Property is localed. In Ihe event that any proVision or clause of thiS Secunty InslrUmenl or the
<br />Note conflICts with applicable law, such conflicl shall not affect other proVISions of 11m Security Inslrumenl or the Note
<br />which can be given effect wilhoutlhe conflicting proviSion. To this end the proVisions of Ihls Securily Inslrumenl and Ihe
<br />Nole are declared 10 be !iCverable.
<br />16. Borrower's Copy'. Borrower shall be given one conformed copy of the Note and oflhlS Security Inslrumenl
<br />17, Transfer of the Property or a Benefidallnterest in Borrower. If all or allY parI of Ihe I'roperty or any
<br />interest in illS sold or transferred (or if a benclkial interest in Borrower IS ~old or tran~ferred and Borrower IS not a naluml
<br />person) without Lender's prior wrillen consent. Lender may, al ils option. reqUire Immedlale payment in full of all sums
<br />secured by this Security Inslrument. Ho....ever, this option shallnol be exerCIsed by Lender If exercise IS prohibilL-d by
<br />federal law as of lhe date of this SecurilY Inslrument.
<br />If Lender exercises lhis option. Lender shall give Borrower notice of accelCrIlIll"'. The 11111 Ice shall prm ,de a penoo
<br />of not less Ihan 30 days from thc date the notice is delivered or mailed wllhin which Borrowe, musl ray "II sums secured b)"
<br />Ihi~ Securily Instrument. If Borrower fails 10 pay these sums prior 10 Ihe expirullon of tillS pertod. I ender may Illvoke an)"
<br />remedies permiUed by this Security Inslrument without furlher nolice or demand nn Borrower
<br />18. Borrower's Rlpt to Reinstate. If Borrower meets certam condllllllls. Borrower ,hllll haH" Ihe nght In have
<br />enforccment of this Securily Instrument discontinued at any time pnor tll Ihe ,'arlier of (al ~ day' (0' such olher perwd..,
<br />applicable law may specify' for reinslalernenl) before sale of the PTllperty pursuulll IOUllY pow,'r "I' ",ie ..."'Iillll,'d III .h"
<br />Seeunty Instrument; or (b) entry (If a judgmenl enforcing this Sel'urllY Instrumenl TlII"c "Olllhllllll' 1\[" Ihal lIorl"llwcr
<br />(a) pays Lender all sums which then would be due under this Security InstrulIIenl a 11<1 Ihe ",,'1,. IlIlll 1111 ",n'I<'r;Il"'"
<br />occurred; (h) curc-s any delilUll of any other covenan" or ugreements. (cl pays ull,"p,'n,," IllllHled III ,'"flll"IIlA II1IS
<br />Security Inslrumen1, mcluding, but not limited 10, rcasonable allorney" fees. IIl1d 'd) lake, ""h actloll ", I""d,', may
<br />reasonably reqUire 10 assure .hal the lien of this Security Inslrument. Lender', rlllllI' III ,hr J'Il'I'l"l"t\ ulld il." '""cr',
<br />obhgallllll 10 pay the sums 'iCcured by this Sct;urity Instrument shllll .ontllllle II IKhUlllll"ll I p"" "'111 ',lal"lII"l1t ",
<br />1J<,rrower, IhlS Securlly Instrument and the obligations !lCcured hereby ,hall remalll (1111\' dTcll I \<' a' ,I "" a,',TI,', ,.11"" had
<br />{",,'urred Itll"'ever. Ihl' nghtlo reinslale shallnol apply In Ihe .a", o( ae.c1em."", ulldc'l'nralll liP'" 11 '" I'
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