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<br />88- 104882
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<br />If Lender required monsq.e insurance as . 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 Ipplicable Ilw.
<br />I, hIpectIoa. Lender or ilS ag...t may make reasonabl. .nlries upon and Inspeclions or Ihe Propeny, Lend.r
<br />shaU giye Bormwer DOtic. .1 the lime of or prior to an inspeclion specifying reasonaLle cause ror the inspeclion.
<br />9.. Coademaatioa. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnalion or otber taking of any pan of the Propeny, or for conveyance in lieu of condemnation. are h~my
<br />assigned and shall be paid 10 Lender.
<br />In the event or. total taking or Ihe Property, thc proceeds sh.1I be applied to Ihe .um. secured by this Security
<br />Instrum...t, whether or not th... due, with any...... paid to Borrower, In Ih. event of a panial lIkiDg of the Propeny,
<br />unlesa Borrower and Lender otherwise agree in wriliDg, lhe sums secured by this Security Instrument shall be reduced by
<br />Ihe amoUDt Df the proceeds multiplied by the followiDg fraction: (a) the 10taI .mouDt of the sums secured immedi.tely
<br />befon: Ihellking. divided by (b) Ihe fair market yalue of lh. Property immedialely berorelhe taking. Any balance sh.1I be
<br />paid 10 Borrower,
<br />If the Propeny is abandoned by Borrower, or If, after notice by Lend.r to Borrow.r Ih.t the condemnor o8'.n 10
<br />make an award or settle a claim for damages, Borrower rails to respond to Lender within 30 days after the date the notice is
<br />giVeIl. Lender is authorized to collect and apply the prcw:eeds. at its option. eirher to restoration or repair oftbe 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 />POSlpOD. the due dale or lh. monthly paym..... referred to in par.graph. I and 2 or ehange lh. .mOUDt or such paymen..,
<br />10. Bomnrer Not Re1euod; ForbearcDee By Leader Nol a Waiv.r. Eaten.ion or lh. lime ror paymenl or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interesl or Borrower shall not operate 10 rei.... Ihe liability oFlhe original Borrower or Borrower's suecessors 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 orthe sums secured by this Security Instrument by reason orany demand made
<br />by the original Bono.erar BoIT'OWer'& SUccesaoJ'S in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall Dot be a waiver Df or preclude the exercise Df any righl or remedy,
<br />IL Sacceaon lIIld Aalpa Bond; Joinllllll Se.....llJabWty; Co-sigaera. The coven.n.. .nd .greemen.. or
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />Df paragraph 17, Borrower's coy........ and agreements ,hall be joint and several. Any Borrower who "",signs this Security
<br />Im;trument bUI does Dot execute Ihe Not.: (.) is co-signing this SecurilY Instrument only to mongoge. grant and convey
<br />that Bormwcr's iDlerest in the Propeny UDder lh. terms oFlhi. Security Inmumenl; (b) i. not personally obtigated 10 p.y
<br />thc .wns secured by Ibis Security Instrumenl; and (c)' agrees th.t Lender .nd any oth.r Borrow.r may .gree 10 exlend.
<br />modify, forbear or make: any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consenL
<br />U. Loa CIarpa. Irth.loan secured by Ibis Securily InSlrument i. subject to a law which.... maaimum loan
<br />charges, and lMl law is finally inle1preled 50 thaI Ihe inl.rest or other loan charges collecled or 10 be collecled in
<br />COIlDection with the loan exceed the permiued limits, then: (a) any .uch loan charge .hall be reduced by the amount
<br />necasary 10 reduce the charge 10 the permilted limit; and (b) any swns already collecled rrom Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may cboose to make Ihis refund by reducing the principal owed
<br />UDder Ibe NOle or by making a direct payment 10 Borrower, If a refUDd reduces principal, the reduclion will be treated as a
<br />partiaJ prepaymenl without any prepaym"'l c:harge uDd.r lb. Note.
<br />13. LeiIaIatI.... AIredlq Leader'. RlahIL IF enactment or expiration of applicabl. laws has the elfect or
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its tcnns. Lender. at its option.
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permillcd by paragraph 19. IrLend.r exercises this option, Lender shall take the.teps specified in the second par.graph or
<br />paragraph 17.
<br />14. Noll.... Any notice to Borrower provided ror in Ihis Security In.lrumenl shall be given by delivering it or by
<br />mailing it by first class mail unless .pplicable I.w requires use or anolher m.thod, Th. notice .h.n be directed to the
<br />Property Address or any other address Borrow.r design.,.. by DOlice to Lender, Any notice to Lender shall be given by
<br />lint elass mail to Lender's address Silted h.rein or any other address Lender desiJlll8tes by notic. 10 Borrower, Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph, '
<br />15. Go..",dll8 Law; SnenbllJly. This Security Instrument shall be governed by red.raII.w .nd lhe law or the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law. such conflict shall not affect otha provisions of this Security Instrument or the Note
<br />which can be given dl'ect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note an: declared 10 be severable.
<br />16. Bonower'. Copy. Borrower shall be given one confonned copy of the Note and Oflhis Security Instrument.
<br />17. Trua!er or the Property or a IleDefldaJ 1n......1 iD Borro.er. IF.n or any pan of the Propeny or any
<br />interest in it is. sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />penon) without Lender's prior written c:onsent, Lender may, at its option, require immediate payment in full of all sums
<br />secu.rai by this Security Instrument, However, this option shall nol be exercised by Lender if exercise is prohibited by
<br />rederal Jaw IS orthe date Drthis Security lns1rumenL
<br />If Lender exercises this option, Lender shaD give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than JOdays from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Insttument. lfBorrowerfails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without funher notice or demand on Borrower.
<br />II. 1IDmnr.....RJpt to ReiDalate. If Borrower meets cenain condilions, Borrower .h.n have the right to have
<br />mrorcaDelll Dflbis Securily Instrument diJconunucd alany time prior to th. earlier or: (a) S d.y. (or .uch other period as
<br />applicable law may specify for reinstatement) before sale of the Propeny pursuant to any power of sale contained in this
<br />Security InstrumeII1.; or (b) entry of a judgment enforcinsthis Security Instrument. Those conditions are that Borrower;
<br />(a) pays Lender all SUD1I wbich then would be due under this Security Instrument and the Note had no acceleration
<br />0<QIrrcd; (b) ....... any default or any other cov...ants or agreemenlS; (c) pay' all expenses incurred In enrorcing thIS
<br />Security Instrument, including. but not limited to, reuonable attorneys' fees; and (d) takes such action as Lender may
<br />reasonably requiR: to allure that the Hen of Ihis Security Instrument, Lender's rights in the Propeny and Borrower'!.
<br />obIiJalion to pay the IUIDI IeCUred by this Securit)' Instrument Miall continue unchanged. Upon mnst.alemem by
<br />Borrowc:r,lhir. Security Inllrument and the obliptions secured hereby shall remam fully effective ti If no accelerauon had
<br />occurred. How~er. this riatn tomnstale ,hall not apply In the case ofaccelerauon under paragraph!. IJ or 17
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