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<br />88- 105008
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall ~y the premiums required (0 maintain the insurance in clfeet 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 inspections of the Property. Lender
<br />shall give Borrower notice at the time afor 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 ProperlY. or for conveyance in lieu of condemnation. are hereby
<br />assigned and shan he paid 10 Lender,
<br />In the event of a total taking of the Property, the proceed.1i shall be applied to the sums secured by this Security
<br />Instrument. whether or not then due, with any excess 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 the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property 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, Borrower fails to respond to Lender within 30 days after the date the nOlice is
<br />gi\'en, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or_ repair 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 I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by l.ender to any successor in
<br />intcrest of Borrower shall nol operate to release the liability of the original Borrower or Borrower's successors in interest.
<br />Lender shall nOl be required to commence proceedings aWlinst any successor in interest or refuse to extend time for
<br />paymenl or otherwise: modify amortization of the sums secured by this Sec\Ulty Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Succeaon and AuilPU Bound; Joint and Se,eral Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's COVCflants and agreements shall bejoint and several, Any Borrower who co.signs this Security
<br />Instrument but does not execute the Note: (a) is co.signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the lenns of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Securily Instrument; and ec) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or makc any accommodations with regard to the terms of this Security Inslrument or the Note withoUl
<br />that Borrower's consent.
<br />12. LoaD Charges. If the loan secured by this Security Instrument is subject to a law which sets ma:r;imum loan
<br />charges, and that law is finally interpreted so that the interest or alher loan charges collected or to be collecled in
<br />connection with the loan exceed the permined limits. then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to Ihe permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits wiJl be refunded 10 Borrower. Lender may choose (0 malee thi!> refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces pnncipal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the NOle,
<br />13. Legislation AffrdiaK LeDder'1 Rights. If enactment or expiration of applicable laws has the effecl of
<br />rendering any provision of the Note or this Securit)' Instrument unenforceable according to its terms, Lender, at its option.
<br />may require immediate payment in full of all sums secured by thiS Secunty Instrument and may invoke any remedies
<br />pcrn1ined by paragraph 19, lfl..ender exercl~ this option. lender shalJ take the steps specified In the second paragraph of
<br />paragraph 17,
<br />14. Notices. Any notice to Borrower pro\'1ded for in this. Security Instrument shall be given by delivering il or by
<br />mailing it by firsl cl3SS mail unless applicable law requlrC'S use of another mc:lhod. The notice shall be directed 10 the
<br />Property Address or an}' other address Borrower des1gnates by nollce to Lender. Any notice to Lender shall be given by
<br />fint dass mail to Lender's address stated herein or an)' other addres!o Lender designatC'S by nOlice to Borrower. Any notice
<br />provided for in Ihis Security Instrument shall be deemed to have bt:en g)\-'cn to Borrower or Lender when given as provided
<br />in Ihis paragraph.
<br />15. Co.,.eraing Law; Set'erability. TIus Securi1y Instrumt:1l1 shall he governed by fedt"raJ law and the law of the
<br />Jurisdiction in which the Property is located. In the event that any pro\'l~lon or clause of thl!' Secunty Instrumenl or the
<br />Nole conflicts with applicable law. such conflicl sball nOl affecl other proVisions or Ihl~ SCCUn1Y Inslrumentur the Note
<br />which can be gi\'en effecl 'I:ilhout the conDicliog provision. To this end the provi!olom orthl!! Security Jnstrument and the
<br />Note are declared to be SC\Ierable.
<br />16. BotTO.er'l Copy, Borrower shall be given one conformed copy of the NOlc and t)f (hi!'> SecunlY Inslrument.
<br />17. Traasrer or the Property or I Beneficial Interest in Borrower. rf all or an) pan of the Pro~r1Y or uny
<br />anterest in 11 l~ ~Id or tn.nsfC"fTCd (or if II beneficial inICTc:5t in Borrower is )oJd or tr.msfern:d and Uorrowc;r 1:-0 nol a natural
<br />pentOn) .-ilhoul Lender'5 prior Uo.rillcn coment. Lender may, at its option, requITe Immedlale payment In full of all sums
<br />\CCured by thiS Security Jnstrument. However, Ihis option shan nol be exerCised by Lender If exerci!oe i!o. prohihiled by
<br />fedCBll.llw as ofthe date of this Securit)' Instrummt.
<br />If Lender t':r;ercises tJlis option, Lender shall gi...e Borrower nollce of accelerallon. The notice shall pro\'lde a penod
<br />of not I~ than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sum" secured by
<br />thIS Seeunt)" Jnstrument. If Borrauo'er fails to pa}' these sums prior to the expiration of thl!. penod, Lender may Invoke any
<br />remedIeS pemllUc:d by this Security Instrument without funher nOUce or demand on Borrower.
<br />111. Borrowu's RiPllo Rtinstale. If Borrower meets ccnain condllltm!l. Borrn~"cT \luJIJ have Ihe nghttn h3VC
<br />enforcement of thIS Securily Instrument dlKonlinucd at any time prior to the earlier of: fa) 5 drJy"lnr ",uch other penod a...
<br />IIpphc:able law ml)' specafy for rcin!otZltement) before sale of the Propcn)' pur.,uanllo any power of~le con lamed In 111I~
<br />Secunl)' Ins.trument. or (b) entry of D Judgmenl enforcing lhi~ 5<<umy Instrument Thll'oC condltlnmo are thai Unrrn""c:r
<br />(a) pa)"~ Lender all 'ioums !oIrt'hlch then ",'ould be due under rhl!o Secunty In!olrumc:nt and the Nnte had no aCl.:derutulIl
<br />occurred. (b) curo any default of any olher COlienants or agreemenl~. (e, pay.. all eApen",e-. tnl.:urrt'd In enfon.:IIl~ tlm
<br />Sa:unl) Initrumen(. mcludlOg. bUI r,ot hmlled to, reawOJlblc allomey" f':e"o. and fdIIOl1.e.. ..uch Ul.:llllO u, l.t'nJer ml.l~
<br />rawnabl)' requITe 10 a!t.\urc thllt the hen of thl~ Sttunt)' Instrument. Lc:nder... nghh In Ihe Propcrt) anJ Iltlrruy,cr ,
<br />obligatIOn 10 PJI) the !Ium!t \(Cured by thl~ munl)' In!otrumenl ..hall l'lInllnue unchungaJ l 'plln Tl"In..I.t1t'"rT1Cllt h~
<br />&rro-"'et". thu. Seeunl) (n"lrumenl and Ihe nhhgullon.. <oecured herth) ...h:tll remalll full) elfecu\-(' a.. If nl' au,elt'"I;llhlfl had
<br />(1C",~'rTt;.d UOVte"n. thllt nl!:hllo mn!llatetohall not aJ1pl~ 10 Ihr-cftloC llf lU;l.:c1crall,m u!ldef J1liraJ?:f.lph.. It .'1 [~
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