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<br />88-
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<br />104497
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<br />If Lender required mortgage insurance us 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 inspecrions of the Property. Lender
<br />shaH 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 conse~uential. 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 thc event of a total taking of thc Property, thc proceeds shall be applied to thc sums secured by Ihis Security
<br />Instrument, whethcr or nolthen due. wilh any cxcess 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 Ihe following fraction: (a) the total amounl of the sums secured immediatcly
<br />before Ihc taking, divided by (b) thc fair market valuc of thc Property immcdiatcly before the taking. Any balancc shall be
<br />paid tn Borrowcr.
<br />If the Property is abandoned by Borrower. or if, after notice by Lendcr to Bnrrower that the condemnor offers to
<br />make an award or seule 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 ils option, either to restoration or repair oflhe Propeny or
<br />to the sums secured by this Security Instrument, whelher or not then due,
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds 10 principal shall not extend or
<br />postpone the duc datc of Ihe momhly paymcnls rcferrcd to in paragraphs I and 2 or change thc amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of thc time fnr paymcnt 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 10 release Ihe 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 eXlend time for
<br />payment or otherwise modify amortization of the sums secured by this Securit~' Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by l"nder in exercising any right or remedy
<br />shall not be a waivcr of or prcclude Ihe c.ercise of any righl or rcmedy.
<br />11. Successors and Assigns Bnund; Joint and Se.crlll liability; Co-signers. The covenants and agrcements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, suhJccl to the pro\'isions
<br />of paragraph 17. Borrower's covcnants and agreements shall be joinl and several. Any Borrowcr who co-"gns Ihis Sceunty
<br />Inslrument but does not e.ecute the Notc: (a) is co-signing this Security Instrumcnt only 10 morlgage. grant and convey
<br />that Borrowcr's imerest in Ihe Property under Ihc terms of this Secunty Instrument; (b) IS not personally obligated to pay
<br />thc sums secured by this Sccurily Instrumcnl; and (c) agrees that Lender and any other Borrower may agree 10 cXlcnd.
<br />modify, forbear or make any accommodations with regard tHthe lerms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by Ihis Securtty Instrument IS subjcctlo a law whIch sets maXImum loan
<br />charges, and Ihat law is finally inlerprctcd so thaI Ihe inlcrest or other loan charges collected or 10 be collected In
<br />connection wilh the loan cxcced the permillcd limits, then: la) any such loan charge shall bc reduced by Ihc amount
<br />necessary to reduce Ihe charge to the pcrmined limit; and (b) any sums already colleelcd from Borrowcr whIch exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make thls refund by reducil.~ the principal owr:d
<br />undcr thc Note or by making a direcl paymcnlto Borrnwer. [fa refund reduces pnncipal. Ihe reductior. WIll be trealcd "-, a
<br />partial prepaymenl without any prepayment chargc undcr thc Note.
<br />13. legislation Affecting Lender's Rights. If enactmenl or expiration of applicable laws has the effecl of
<br />rendering any provision of the Note or this Security Inslrumenl unenforceable according to its lenns, Lender. at its option.
<br />may require immediatc paymcnt in full of all sums secured by this Sccunty Instrumenl and may In,oke any rcmedics
<br />pcrmined by paragraph 19. If Lcnder exercises thIS option. Lender ,hall take Ihe steps specified m Ihe second paragraph of
<br />paragraph 17.
<br />14, Notices. Any oOlice 10 Borrower pro\'lded for to this Security Instrument shall be g,1\'en hy deli\'ering it or by
<br />mailing it by first class mail unles!\. apphcable law requiro use of anolher method, The nollce shall be dlreclr:d 10 Ihe
<br />Propeny Address or any other address Borrower dL'"Slgnales by noUce 10 Lender, Any notice 10 lender !\halJ he given by
<br />first class maitlo Lender's address stated herein or an~' other addrL~' Lender doignate.\ by nollce to Borrower, Any nOllce
<br />provided for in this Security Instrument shall be dcemcd to have been gl\'en In Borrower or Lender when given as proVIded
<br />in this paragraph.
<br />15. Governing Law; Severabilit)., This Secunly In!\.lrumenl \hall be go\'erned hy federaJ law and the: Jaw of (he
<br />jurisdiction in which the Property is localed, In Ihe e\'cm thar any provl!I.Ion or clause of Ihi!\. Security Instrumenl or (he
<br />Note conflicts with applicable Jaw, such conflict shall not affect other prU\.I!\ions of Ihis Security Jnslrument or the Note
<br />which can be given effecl without the conflicting prOVision, To thiS end I he provi!\.um!'! of thi!'! Securily Instrument and I he
<br />Note arc declared 10 be scverable.
<br />16. Borrower's Copy. Borrowcr shall be g1\en one conformed copy of the Note and of Ih" Seeunly. In,trumenl
<br />17. Transfer of the Property or a Benefici21 Interest in Borrower, If all or any part of Ihe Property or an~
<br />interest in it is sold or transferred (or if a benefiCial interesl in Borrower 151 !'!old nr tnm!\.ferrcd and Bnrrower 1\ nol a nalural
<br />person) without Lender's prior written consent, Lender may. al ib option. reqUire ImmedIate payment In full of aJ! !\um!\
<br />secured by Ihis Security Instrument. However, this OplUlO !thall not he eAercl!\ed hy Lcnder If eAerCI,e IS prohlhlled h)
<br />federal law as oflhe datc of this Sccurity (nstrumcnt.
<br />If Lender exercises this option, Lender shaJl give Borrower nOlice of 3LccleralJOn_ The notH.:e ..hall pro\'lde a pC:rH,d
<br />of not less than 30 days from the date the notice is delivered or malled within whICh Borro",c:r mU'1 pay 311..U01.. !\.ecured hy
<br />Ihis SecurilY Instrumenl, If Borrower fails to pay these sums prior to the cApiratlon nf Ihl.. period, Lender may Ul\'oke an)
<br />remedies permitted by this SecurilY InSlrument \\'ithout further notice or demand 1m B{}rrower
<br />18. Borrower's Right 10 Reinstate. If Borrower meets certam conditlon!\. Horm\\'c:r ...hall have Ihe right tll hUH'
<br />enforcement of this Security Instrument discontinued al any lime prior to the c:urher of: lal5 day.. (or ..uch olher period u..
<br />applicable law may specify for reinstalement) he fore ~ale of thc: Propeny pursuant In any power lIf ..ale nmlillned III I hi"
<br />Security Instrument; or (b) entry of a judgment enforclllg Ihi!\ Security In!llrument_ 1 ho..c: condltltln.. llrl' thilt Borrower
<br />(a) pays Lender nil sum!ir wluch then would he due under Ihi!; Security In..trumCIlI and the ~llll' had ilL) al.:L'c:IcrillhHl
<br />occurred (b) cures any default of any other cm:cnanto,: or agrecmcnls; (c) pay.. all l':\pcnw.. IIlL'urred 111 l'nrl\r(,ll1~ thl'"
<br />Secunty ls1rumenl, including. but not hmited 10, reasonable attorneys' fee!'!; and (J) lalo..c:... "'ul"h lll"llllTI a... I"t'nuer muy
<br />reason ,I require 10 as!lurc that the lien of thi!! Security In..trumenl, Lender.... np:hl'o III lht' PrllptTI~ anll Btlrrlly.c:r'~
<br />obligal, to pay the !Ium!\. ..ecurcd hy thl'" Security In!!trumenl ..hall L'lllllllllll' lllldlall~t'd l"I'PII It'lll'olalt'fTIl'nl h~
<br />Borroy. lhl!! Secun1y In..trumt:nt and the tlhhgalltlll" ..ecured hcrl'h~ ..hall rl'TTlU11l lull~ 1'lft'L t I \C ,I' II 1111.1\"\ I'll-I alII Hl il;1l1
<br />n":l:urr~d However, Ihl' nght tn reln..lall' ...lmllntlT aprl~ 1111 he ,:a'... (If lJL"ll'leral'lHI Ulldl'T I',!l,l,cl.lph, J 1 lor 1-;
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