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<br />If Lender required mortgage insurance as a condition of making the loan secured by Ihis Securily Inslrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for Ihe
<br />insurance terminates in accordance wilh Borrower's and Lender's written agreement or applicable law.
<br />8, Inspection, Lender or ils agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at Ihe time of or prior 10 an inspection specifying reasonable cause for Ihe 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 tOlal taking of Ihe Property, the proceeds shall be applied to the sums secured by this SecurilY
<br />Instrument, whelher or nol then due, wilh any excess paid to Borrower. In the event of a parlial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, Ihe sums secured by this Securily Inslrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the lolal amount 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 Property is abandoned by Borrower, or if, after notice by Lender to Borrower that Ihe 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 Inslrument, 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 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 amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />inleresl of Borrower shall not operale to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall nol be required to commence proceedings against any successor in interest or refuse to ex lend lime for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrumenl by reason of any demand made
<br />by Ihe 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 covenanls 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 Ihis Security
<br />Instrument but does not execule the Note: (a) is co-signing this Security Instrumenl only to mortgage, grant and convey
<br />Ihal Borrower's interest in the Property under the terms of this Security Inslrument; (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 Ihis Security Instrument is subject to a law which sels maximum loan
<br />charges, and that law is finally inlerpreted 50 thai the interest or olher loan charges collected or 10 be collected in
<br />connection with the loan exceed the permitted limits, Ihen: (a) any such loan charge shall be reduced by the amounl
<br />necessary to reduce the charge to the permitted Iimil; 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 Ihe 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 Ihe Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to ils terms. Lender, at its oplion,
<br />may require immediate paymenl in full of all sums secured by this Security 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 10 Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless appEcable law requires use of another method, The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />firsl class mail to Lender's address staled herein or any other address Lender designates by notice to Borrower, Any nOlice
<br />provided for in Ihis Security Instrumenl shall be deemed to have been given to Borrower or Lender when given as 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 />jurisdiclion in which Ihe Properly is located. In the event that any provision or clause of this Securily Instrument or the
<br />Note conflicts wilh applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Securily Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />inlerest in it is sold or Iransferred (or if a beneficia] interest in Borrower is sold or transferred and Borrower is not a 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 Ihis SecurilY Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the dale of this Security Instrument.
<br />If Lender exercises this oplion, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30dGYs from Ihe date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Securily Instrument. If Borrower fails to pay these sums prior to the 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 Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforccment of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrumeot. Those conditions an' that Borrower:
<br />(ll) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any d~fault of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may
<br />reasonably require to assure Ihat Ihe lien of this Security Instrument, Lender's rights in thc Property and Borrower's
<br />obligation to pay the sums secured by this Security fnstrument shall continue unchanged, Upon reInstatement by
<br />Borrower. this Security Instrument and the obligations secured hereby shall remaIn fully effective as if nl1l1ccclcc:llil1n had
<br />occurred, However, this right to reinstate shall not apply In the casc of acceleration under paragraphs 1,1 or 17
<br />
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