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<br />88- 104591
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<br />If Lender required mortgag. insurance as a condilion of making Ih. loan secured by lhis Securily Inslrumenl,
<br />Borrow.r shall:pay thrPfemii!rii(rCiiiili~)~'inainlain lh. insurance in .ff.cl unlil such lim. as th. requiremenl for lh.
<br />insuranc.t.~iriates in aC;C{l~rice II"ith,Borrow.r's and Lend.r's wrilt.n agreem.nt or applicabl. law,
<br />B. ICIipectIjI"" Lender ~ il!l"'Bgent lt1$y make reasonabl. .ntries upon and Inspeclions of Ih. Property. Lend.r
<br />sball give Borrower nntic:elll'lh. time of orprlot 10 an inspeclion 'pecifying reasonable cause for Ih. inspeclion,
<br />9. Coademnadoa. The proceeds of any award or claim for damages, direct or consequ.nlial, in conneclion with
<br />any condemnation or oth.r taking of any part of lh. Property, or for conv.yance in Ii.u of cond.mnalion, ar. h.r.by
<br />assigned and shall be paid 10 Lend.r,
<br />In Ibe .venl of a lotal taking of Ih. Property, Ih. proceeds shall be applied 10 Ihe sums secured by this Securily
<br />Instrument, wh.lber or nollhen du., wilh any ..cess paid 10 Borrow.r, In tb. .v.nl of a partial laking of Ih. Property,
<br />unless Borrow.r and Lend.r oth.rwise agree in writing, lh. sums secured by thi, Securily Inslrum.nt sball be reduced by
<br />Ih. amount of th. proceeds mulliplied by th. follnwing fraction: (a) lh. lotal amounl of th. sums secured immedial.ly
<br />before th.lBking, divided by (b) Ih. fair market value ofth. Property immediat.ly befor.th. taking. Any balance ,hall be
<br />paid 10 Borrow.r.
<br />If Ih. Property is abandoned by Borrow.r, or if, afl.r nOlic. by Lend.r to Borrow.r lhallh. cond.mnor off.rs 10
<br />make an award or settl. a claim for damages, Borrow.r fails 10 respond to Lend.r wilhin 30 days after Ih. dal.lh. notice is
<br />given, Lend.r i, aUlhorizcd 10 collecl and apply Ih. proceed,. at ils option, .ith.r 10 resloralion or repair ofth. Property or
<br />10 Ih. sums secured by Ihis Securily Inslrumenl, wh.lh.r or notlh.n du..
<br />Unless Lend.r and Borrnw.r olh.rwise agree in writing, any applicalion of proceeds to principal shall not extend or
<br />poslpon.the due dale oflh. monlhly payments reF.rred 10 in paragraphs I and 2 or chang.th. amounl of such paym.nls.
<br />10. Borrower Nol Releued; FnrbearaDce By Leader Nol a Waiver. E'I.nsion of lh. limc for paym.nt or
<br />modification of amortizalion of thc sums secured by Ihis Security In,trumcnt granled by Lend.r to any ,uccessor in
<br />inlercst of Borrower shall nol operate 10 r.lease th. liability of lh. original Borrow.r or Borrow.r's sc::::=rs in inl.rest.
<br />Lend.r shall nol be required 10 commence proceedings again'l any successor in inl.rest or r.Fuse 10 ext.nd lim. for
<br />paymenl or olherwise modiFy amortizalion oflh. sums secured by this Security Instrum.nt by reason of any demand mad.
<br />by lb. original Borrower or Borrower's successors in inl.rest, Any forbearance by Lend.r in ...rci,ing any righl or r.medy
<br />shall not be a waiver of or preclud. Ih. ...rcise of any righl or remedy,
<br />11. Succeacn aDd Aalpa Botmd; JoiDt aDd Sneral Uabillty; C....signers. Th. covenants and agreem.nls of
<br />this SecurilY Inslrumenl shall bind and ben.fillh. successors and as,ign, of Lend.r and Borrow.r. subjecllo th. provision,
<br />of paragraph 17, Borrower', covenants and agreements shall be joinl and sev.ral. Any Borrower who co-signs this SecurilY
<br />Instrumenl bUI docs nol .xecul. the Note: (a) is co-signing this SecurilY In,lrum.nl only 10 mortgag., grant and conv.y
<br />Ihal Borrower's inl.rest in th. Property und.r Ih.l.nns of Ihis Securily In'trum.nt; (b) is not personally obligaled 10 pay
<br />Ih. .ums seeurcd by lhi, Security In,trumenl; and (c) agrees Ihal Lend.r and any olh.r Borrower may agree to .xtend,
<br />modify, forbear or make any accommodalion, with r.gard 10 Ih. tenns of Ihis Securily Instrum.nl or th. Not. wilhoUI
<br />lhal Borrow.r's conKtll,
<br />JZ, Lou CIIar1IeB. Ifth. loan secured by this Security lnolrument i, subject 10 a law whieh sets maximum loan
<br />charges, and lhal law is finally interpreted so lhal Ihe inl.resl or oth.r loan charges collecled or 10 be collected in
<br />conneclion wilh Ih. loan exceed th. pennilled limits, Ih.n: (a) any ,uch loan charg. shall be reduced by Ih. amount
<br />necessary 10 reduce Ih. charg. 10 Ih. pennilted limit; and (b) any ,ums already collected From Borrow.r which exceeded
<br />penniUed limits will be refunded to Borrow.r, Lender may choose 10 make this r.fund by reducing the principal owed
<br />under the Note or by making a direcl paymenllo Borrowcr, If a r.Fund reduces principal, lh. reduction will be trealed as a
<br />panial prcpaymenl withoUI any prepaymenl chargc und.r lh. NOI..
<br />13. Leg\a1aIIOD AJrectln1 Leader'. Rip". If cnactment or ..piration of applicablc laws has Ih. .ffecl of
<br />rend.ring any provision ofth. Notc or this Securily Inslrum.nl un.nForceabl. according to iI' I.nn" Lend.r, al its option.
<br />may require immediate paym.nt in full of all ,urns secured by this Security In'trum.nl and may IDvoke any remedies
<br />permilled by paragraph 19. If Lend.r ...rcises Ihi, oplion. Lend.r ,halltak.th. 'ICps 'pecified in Ih. second paragraph of
<br />paragraph 17,
<br />14. Nodcea. Any notic. to Borrow.r provided For in lhi, Security In'lrum.nl shall be giv.n by d.liv.ring it or by
<br />mailing il by firsl class meil unless appllcabl. law requires use of anolh.r m.lhod. Th. nOlice ,hall be direcled 10 lhc
<br />Property Address or any Olh.r address Borrow.r designates by nOlic. 10 Lend.r, Any nOlice to Lend.r shall be giv.n by
<br />first class mail 10 Lender's address slaled h.rein or any olh.r address Lender designates by nolic.lo Borrow.r, Any notic.
<br />provided For in this Security Inslrumentshall be deemed 10 have been giv.n to Borro....r or Lender when giv.n as provided
<br />in Ihis paraaraph,
<br />15. Goftf'lliD& Law; Senrabl1lty. This Security Inslrum.nl ,hall be gov.rned by fed.rallaw and the law of the
<br />jurisdiction in which Ih. Property i, located. In Ih. event Ihal any proVIsion or clause of Ihis Secunty In'trument or the
<br />Note confticlS with applicabl.law. such conOicl ,hall not affecl olh.r provi,ions of Ihi, Security In'lrum.nt or thc Not.
<br />which can be given efl'ecl wilhoUl thc confticling provi,ion, To Ihis end Ih. provi,ions oflhis Securily Inslrum.nl and Ih.
<br />Note are declared 10 be severabl.,
<br />16. Bomnrcr'I Copy, Borrower ,hall be 8'ven one conFonned copy of Ih. Notc and of Ihis Securily Instrum.nt.
<br />17. Truster of tbe Property or a Beoeficlal Interesl in Borro..er. If all or any part of Ihe Property or any
<br />interest in it is IOld or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not 8 natural
<br />person) withoul Lender's prior wrinen consenl, Lend.r may. al ii' option. require immediate payrn.nl in full of all sums
<br />secured by this Securily Instrum.nl, How.v.r, Ihis oplion shall nol be ...rcised by Lendcr if ...rcise i, prohibited by
<br />fcdera1law U ofth. dal. ofthi, SecurilY Inslrum.nt,
<br />IF Lender exercises Ihi. oplion, Lend.r shall give Borrow.r nollCC of acceleralion. Th. notice ,hall provide a period
<br />of not less than 30 days from Ih.dal.lh. notice is d.liv.red or mailed within which Borrow.r rnusl pay all.urns secured by
<br />Ihi, Security Insuumenl. If Borrower fails 10 pay Ihcse sums prior 10 th. .'plrallon oFthis period. Lend.r may invoke any
<br />remedies permined by Ihis SecurilY Instrument wilhoul furth.r notic. or d.mand on Borrow.r.
<br />11. Borrower'a Rleltt to Rei_te. If Borrow.r meel' certain condilions. Borrow.r ,hall have th. right 10 have
<br />enforcernenl of Ihi. Security In,lrurn.nl disconlinued at any lime prior 10 Ihc earll.r of: Ca) S day' (or ,uch oth.r penod as
<br />applicable law may specify for r.mslal.....ent) before sale of the Property pursuant to any power of sal. con lamed in lhlS
<br />Security Instrument; or (b) mtry of a judJDlcnt enforcing this Secunl)' Instrument. Those conditions arc that Borrower:
<br />(a) pays Lend.r all sums whIch th.n would be due und.r thi, Security In'lrumenl and Ihe Nole had no acc.l.rallon
<br />occurn:d; (b) cureI any default of Iny other co\'enants or agreements; (c) pays all expenses incurred an enforCIng thl!!
<br />Security IMlruman. Includln.. but nol hmned to, reasonable attorneys' fees; and (d) takes !luch aenon u Lender may
<br />reasonably require to assure that the hen of thiS Sccu~;ty Instrument, Lender's nghts iii the proJXny and Borrower's
<br />oblipllon to pay the sum' lioCCured by .hl' Security Instrument ..h.U continue unchanged. Upon remstatement by
<br />Borrower. thn Secuntylnluument and the obh,llIOR\ secured hereby "hall remam fully effecuve as If no accelerallc)O had
<br />occurred. Howeve!, thl\ ",hila rem.lalc ,han nolappl)' In ,h~ eaK of IcceleratlOn under panlRraph' 13 ur 17
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