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<br />88- 104426
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<br />If Lender required mortgage insurance as a condition of making tbe loan secured by Ibis Security Instrument,
<br />Borrower sball pay tbe premiums required to maintain Ibe insurance in ell'ect until sucb time as tbe requirement for the
<br />insurance tenninates in accordance with Borrtiwer's and Lender's written agreement or applicable law.
<br />g, lDIpectIon. Lender or its agent may make relISOJ\&ble entries upon and inspections of Ibe Property. Lender
<br />sball give Borrower notice attbe time of or prior to an inspection speciJYing reasonable cause for the inspection.
<br />9. Coadenmatloa, The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or otber taking of any pari of tbe Property, or for conveyance in lieu of condemnation, are bereby
<br />assigned and shall be paid to Lender.
<br />In the event of a Iotal taking of tbe Property, tbe proceeds shall be applied to the sums secured by this Security
<br />Instrument, whetber or not then due, with any excess paid to Borrower. In tbe event of a partial taking of tbe Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by tbis Security Instrument sball be reduced by
<br />Ibe 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 oftbe Property immediately before tbe taking. Any balance !--'18I1 be
<br />paid to Borrower.
<br />If tbe Property is abandoned by Borrower, <>r if. after notire by Lender '0 Borrower tbattbe condemnor oll'en; 10
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after tbe date the notice is
<br />given, Lender is autborized to collect and apply tbe proceeds, at its ol'lion, eitber to restoration or repair of Ibe Property or
<br />to tbe sums secured by too Security Instrument, wbether or not then due.
<br />Unless Lender and Borrower otberwise agree in writing, any application of proceeds 10 principal shall not extend or
<br />postpone the due date of tbe monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10, Borrower Not Rdeued; ForhearaDc:e By Leader Not a Wa!yer. Extension of tbe time for payment or
<br />modification of amortization of tbe sums secured by this Security Instrumenl granted by Lender to any successor in
<br />mterest of Borrower shall not operate to release tbe 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 10 extend time for
<br />payment or otberwise modify amortization of tbe sums secured by tbis Security Instrument by reason of any demand made
<br />by the oriKinai Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any rigbl or remedy
<br />sball not be a waiver of or preclude the exercise of any right or remedy.
<br />11. S- ADd Aalll\1l1l1otad; Joint ADd SeYeraJ UalIIllty; Co-sipen. The covenants and agreements of
<br />this Security Instrument shall bind and benefittbe successors and assigns of Lender and Sorrower, subject to tbe provisitlns
<br />of paragrapb 17. Borrower's covenants and agreements shall be joint and several. Any Borrower wbo co-5igns tbis Security
<br />Instrument but does not execute the Note: Ca) is co-signing tbis Security Instrument only 10 mortgage. gran, and convey
<br />that Borrower's interest in the Property under tbe terms of this Security Instrument; (b) is nol pcrsonaIIy obligated to pay
<br />the IUIDI secured by this Security Instrument; and Ce) agrees that Lender and any otber Borrower IIlbY agree 10 extend.
<br />modify, forbear or maIte any accommodations with regard 10 the lerms of this Security Instrument or the Note wilhout
<br />that Borrower'1 CotIICIIL
<br />12. Lau CIwpL If the loan !lOCUred by this Security Instrument is subjeclto a law whicb sets maximum loan
<br />charges, and that Jaw is finally interpreted SO that the interest or other loan charges collected or to be collected in
<br />COIIDCICtion with the loan ex.-l the per:nilled limits, tben: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the e~ to the permitted limit: and (b) any sums already col1a:ted from Borrower which aca:ded
<br />permilled limits will be refunded 10 Borrower. Lender may chOO!.e 10 make Ibis refund by reducing Ibe principal owed
<br />under the Note or by making a direct payment 10 Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepaymenl without any prepayment charge under the Note.
<br />n LqlsJatloa Alfecllna Lettder'. Rlaltls. If enactmenl or expiration of applicable laws bas the ell'ect of
<br />rendering any provision of the Note or Ibis Security Instrument unenforceable according to its terms, Lender. al its option,
<br />may require immedbte payment in full of all sums secured by tbis Securily Instrument and may invoke any remedies
<br />permilted by paragrapb 19. If Lender exercises this option, Lender shall take the sleps specified in the second paragnph of
<br />paragrapb 17.
<br />14. Noti-. Any notice 10 Borrower provided for in this Security Instrument shall be given by delivering il or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice sball be directed 10 Ibe
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice 10 Lender shall be given by
<br />first class mail 10 Lender's address stated berein or any other address Lender designates by notice 10 Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender wben given as provided
<br />in this parqraph,
<br />15. GmenIItta LaW; SeYentblllty. This Securily Instrument sball be governed by federal law and the law of tbe
<br />jurisdiction in wbich the Property is located. In tbe evenl that any provision or clause of Ibis Securily Instrument or the
<br />Note conftiClS with applicable Jaw, such conllict shall not aJl'ect otber provisions of tbis Security Instrumenl or the Noteiwhicb can be given ell'ect without the conlIicting provision. To tbis end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16, Botrow..'. Copy, Borrower shall be given one confonned copy of Ibe NOle and of this Securily InstrumenL
<br />17, Trattafer of the Property or a Beaelleial IDterut In Borrow... If all or any pan of tbe Property or any
<br />interest in it is sold or lransferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nol a natural
<br />pernon) without Lender's prior wrilten consenl, Lender may, al its option, require immediale payment in full of all sums
<br />secured by this Security InstrumenL However, tbis option shall nol be exercised by Lender if exercise is prohibiled by
<br />federal Jaw as oflbe date of this Security Instrument.
<br />If Lender exercises tbis option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed witbin whicb Borrower must pay all sums secured by
<br />this Security InstrumenL If Borrower fails to pay Ibese sums prior to Ihe expiration of this period, Lender may invoke any
<br />remedif$ permilled by this Security Instrument witbout further nOlice or demand on Borrower.
<br />11. Botrower'. Ript to Relumte. If Borrower meets certain conditions, Borrower sball have tbe right 10 bave
<br />enforcement ofthis Security Inslrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable Jaw may specify for reinststement) before sale of the Property pursuanlto ROy power of sale contained in this
<br />Security Instrument; or (b) miry of a judgmenl enforcing tbis Security Instrumenl. Those conditions are that Borrower:
<br />Ca) pays Lender all sums wbicb then would be due under this s.curity Instrument and the Note had no acceleralion
<br />OCcurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing Ihis
<br />Security Instrument, including, but nOl limiled 10, reasonable altomeys' fees; and Cd) takes such action as Lender may
<br />reuonably require to assure tbat lbe lien of tbis Security Inslrumenl, Lender's rigbts in the Propeny and Borrower's
<br />obligation 10 pay the sums secured by lhis Se;:urity Instrument sball ""nlinue uncbanged. Upon reinstatemenl by
<br />BolTO'ller, this s.curity Instrument and tbe obligations secured hereby shall remain fully effec'ive as If no acceleration had
<br />occurred. However, tbis right 10 reinstate shall nOI apply in Ihe case of acceleralion under paragraphs J] or J 7,
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