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<br />88- 104303
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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 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 Property, 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 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 Ihe 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 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) 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 seU]e 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] 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. Successors and Assigns Bound; Joint and Several Liability; Co.signers. 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] 7. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrumenl 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 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 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 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 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 prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or explrallon of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Inslrument unenforceable according to ils terms, Lender, al its option.
<br />may require immediate payment in full of all sums secured by this Secunty Instrument and may invoke any remedies
<br />permitted by paragraph 19, If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17,
<br />14. Notices. Any notice to Borrower provided for III thIS Securily 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 B"rrower designates by nolice 10 Lender. Any nOlice to Lender shall be given by
<br />first class mail to Lender's address slated herein or any other addrl'Ss Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed 10 have heen given hI Borrower or Lender when given as provided
<br />in this paragraph,
<br />IS, Governing Law; Severability. This Security Instrumenl shall he governed by federal law and the law of the
<br />jurisdiction in which the Propt 'ty is located, In the event Ihat any provisl<lI1 or dause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall nOl affecl other pr""Slons of this Security Instrumenl or the Note
<br />which can be given effect without the conflicting provision, To Ihls end the proVISIons of thIS Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the NOle .lIld of thIS Security Instrument.
<br />17. Transfer of the Property or B Beneflciallnterest in Borrower. If 1111 or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower IS sold or I mnsrerred IIIllJ Borrower IS nol a natural
<br />person) without Lender's prior written consenl, Lender may, at ils 01'11<111, re<julfe Immedmle payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not he e.erc"ed hy Lender If nercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower nollce of accelerullon. The nollce shall provide a period
<br />of not less than 30 days from the date the nOlice is delivered or mUlled WIt hln whIch Bnrrower must pay all 'urns secured by
<br />this SecurilY Instrument. If Borrower fails to pay these sums pnor to the e'plfalllln of t hIS penod, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meeb certain conditions, Borrower shall have the nght to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earher of: (a) 5 days (or such olher penod as
<br />applicable law may specify for reinstatement) before sale of Ihe Property pursuanl 10 any power of sale conlained in this
<br />Security Instrument; or (b) entry of a judgmenl enforcing this Security Instrument Thns, cnodition, arc thaI Borrower:
<br />(a) pays Lender all sums which then would be due under this Security In,'rumenl and Ihe "sIote had no ac~eleralion
<br />occurred; (b) cures any default of any other covenants or agreements: (c) pays all e.pc:nses IIlcurred In enforCing IhlS
<br />Security Instrument, including. but nOl limned to, reasonable altorneys' fees: and (d) takes such aclIon liS Lender may
<br />reasonably require to assure that the lien of Ihis Security Instrument, Lender', nghts In Ihe Property and Borrower's
<br />obh~al1on to pay the sums secured by ,hiS Security Instrument "hall l"lmtmuC' unchanged t'ron rCtrl'lalcmc:nl h~
<br />Borrower. thl!>. St"curity In"rrument and the nhlig.3tions ...ecured herehy ...hall n:maln rull~ l..'ffC\.'tlH" a... If IHl 4h,.'cdcratlntl had
<br />nccurrL~ However. thl~ nghl to rctnloiofalt" ",hall nol appl) In the: l'3"C Ilral'l..'elcrillltITl under rara~faph... I ~ (11' II'
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