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<br />If Lender required mortgage in,urnnee a' a eondition of making the loon 'ecu~~~hi~2~~~s~umenl'
<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 whh Borrower's and Lender's written agreement or applicable law.
<br />8. Inspecrlan. Lender or its agent may make reasonable entries upon and inspections of the ProperlY. Lender
<br />shall 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 consequential, in connection with
<br />any condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnation. arc hereby
<br />assigned and shan he paid 10 Lender,
<br />In the event of a tOlol taking of the Property, the proceeds shan be applied to the sums secured by this Security
<br />Instrument, whelher or nol then due, with any excess paid to Borrower. In the event of a partial takhig 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 the following fraction: (0) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the prt>perty immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrowllr 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 r~pair of the 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 />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 p Wainr. Extension of the time far payment or
<br />modification of amortization of the sums secured by this Security Instrument gronted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the anginal Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for
<br />paymenl or otherwise modify amortization oflhe sums secured by this Security Instrument by reason afany demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising Bny right or remedy
<br />shall not be a waiver of or preclude the exercise afany right or remedy,
<br />II. Successors and Assips Bound; Jolnt BDd Several LIability; Co.~lgners. The covenants nnd agreements of
<br />this SecurilY Instrument shall bind and benefttthe 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 this Security
<br />Instrument but docs nol execute the Note: (a) is co-signing this Security Instrumenl only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrumenl; and (e) agrc.:es 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 Ihe Note withoul
<br />Ihat Borrower's consent.
<br />12. Loan Cb8!'Kes. If the loan secured by this Security Inslrumenl is subject to n law which sets maximum loan
<br />charges, and thai law is finally interpreted so that the interest or other loan charges collt:cted or to be collected in
<br />connection with the lonn exceed the permined limits. then: (a) any such Imm charge shall be reduced by the amount
<br />necessary to reduce the charge to the permined limit; and (b) any sums already conected from Borrower which exceeded
<br />permined limits will be refunded to Borrower. Lender may choose to make thi!'. rerund by rcd~cing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reducl.."S principal. the reduction will be (rented a'i II
<br />parlial prepayment without any prepayment charge under Ihe Note,
<br />13, Legislation Affecting Lender's Rlpts. If enactment or e~piration of applicable laws has the effect of
<br />rendering any provision qfthe Note or this Security Inslrument unenforccnhlc according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured hy this Security Instrument und may invoke any remedies
<br />pc:mliued by paragraph 19. If Lender exercises this option, Lender shull take the steps specified in Ihe secund paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in Ihis 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 shall be directed to the
<br />Property Address or any alher address Borrower designates by notice to Lender. Any nOlice to Lender shall be given by
<br />first class road to Lender's address stated herein or any olher address lender designates by notice to 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. GonmIng Law; Severability. This Security Instrument shall be governed by federnllaw nnd the law of (he
<br />j~risdiclion in which the Propcrty is located. In the event that any provision or clause of this Security Instrument or Ihe
<br />Note COi:~iCIS with applicable law, such conflict shall nol affect other provisions of Ihis Security Instrumenl or the Note
<br />which can be 81"'''-': fOffeet without the conflicting provision. To Ihis end Ihe provisions oflhis Security Instrumenl and the
<br />Nme are declared to be sever ci~!=
<br />16, Borrower's Copy. Borrower shaii ix: 5;....:;: ~!lr conformed copy of Ihe Note and of this Security Inslrument.
<br />17. Transfer of the Property or a Beneficial Interest In !lorrower. If all or any part of the I)roperty or Dny
<br />interest in it is sold or transferred (or if a beneficial interesl in Borrower i: ~old or lransferred and Borrower is not u natural
<br />person) without Lender's prior written consent, Lender may, at its option, f::,quire immedmte payment in full of all sums
<br />secured by this Security Instrumenl. However, Ihis option shall not be e"-ercl!'t~ b~ Lender if e"-ercise is prohibited by
<br />federal law as orthe date orthis Security Instrument.
<br />If Lender exercises this option. Lender shaH give Borrower notice or accelerulioll, The notice shall provide It period
<br />of nOlless than .30 days from the date the notice: is delivered or mailed within which Bormwcl rnu,,-,t pay aU sums secured by
<br />Ihis Securily Instrument. Ir Borrower fails to pay these sum, prior to the upirntion of this perio~, lender may invoke any
<br />remedies permitted by this Security Instrumenl withoul fUflher nOlice or demand on Borrower.
<br />18. Borrowu's Right to Reinstate. If Borrower meels certain condilions. Borrower !thall have III..: ri~htlO have
<br />enforcement of this Security Instrument discontinued ut any time prior to the earlier of: (n) 5 days (or such olher pt..:':'li as
<br />applicable Jaw may specify for reinMateme:nl) before: \nle: of Ihe Property pursuant 10 :my po\\'er d sale conlulned in lhis
<br />Security Instrument; or (b) entry of a judgmenl enforCing Ihi~ Securily Instrument. Tho~ condition,. arc thai Borrower:
<br />(3) paYi Lender all sums which then would be due under Ihl\ Sl"Curit)' In!\lrUmenl and lhe Nole had nn uccc:1erutlnll
<br />Occurred; (b) cures an)' default of any other covcmml' ur agrccmenl..; lc) pmys ull C'Apense. incurred to enforCIng 11m
<br />Sccunly Instrument, including, but nOI IImlled In, rell\unable 1II1omey'" f~. and Cd) lakc!'t ..Ilch ucflon II' Lender ",U\'
<br />renon.hl)' require to aSliI,Jre thai the lien or thl\ Seeunl) In"lrumene Lender'or, nghl~ In lh,,' Pmpt.'rl) <lod BlIrruwL'r:..
<br />obligation 10 pay the sums ~ured by Ihl\ SecUnI) hl..uumenl \hull cnnllnue unchanged Urxm rCII1..IUlcUtI.'nl h~
<br />Borrower. Ihl!. Sccun1y In!olrumen111nd Ihe uhhgl'lllJlI\ \ccufed herd,), ..hall remall1 fully dTel.:llVI.' U\ If 1111 an:c1eralllllllwd
<br />occurred lIo\\e\icr. thiS nghl 10 rnmlalc "hall 11111 aflpl) In the Ill\,,"fnn:c1cfJltllll1l1fHh-r r.n;l~rllrh.. 111lf 17
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