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<br />88- 105033
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<br />If Lender required mongage insurance as a condition of making the loan secured by Ihis Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in elfect until such time as Ihe requiremenl for the
<br />insurance tenninates in accordance with Borrower's and Lender's written agreement Of applicable law.
<br />8. luPecti..., Lender or its agent may malee reasonable entries upon and inspections of the P,operty, Lender
<br />shall give Borrower notice althe lime of or prior 10 an inspection specirying reasonable cause for Ihe inspection,
<br />9. CoDd.lIIIIlllion. The proceeds of any award or claim far damages. direct or consequential, in connection with
<br />any condemnation or other taking of any pari of the Property. or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event or a total taking of the Propeny, Ihe proceeds shall be applied to Ihe sums secured by this Security
<br />Instrument, whether or not then due. wilh any excess paid to Borrower, In Ihe eyent or a partial laking 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 amounl of Ihe proceeds multiplied by the following fraction: (a) the total amount of lhe sums secured immediately
<br />before the taking, divided by (b) the fair markel value oflhe Property immediately before the taking, Any balance shall be
<br />paid to Borrower.
<br />Irthe Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to
<br />malee an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />ginn, Lender is authorized to collect and apply the proceeds, at its option, either 10 restoration or repair of the Property or
<br />to the sums secured by Ihis Security Inslrument, whether or not then due,
<br />Unless Lende, and Borrower otherwise agree in writing, any application of proceeds to principal shall nol extend or
<br />postpone the due date of the monlhly payments referred 10 in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrow.r Not R.leased; Forbeannce By Lender Not a Waiver. E'lension or Ihe time for payment or
<br />modification of amortization of the sums secured by this Security I"'o;.trument granted by Lender to any successor in
<br />interest of Borrower sha1l not operate to release the 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 extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercis;ng any right or remedy
<br />shall not be B waiver of or preclude the exercise of any right or remedy.
<br />11. S.......... and AsalIlDI Bound; JoiDlud S.nraI LlabIUty; Co-slgaers. The coyenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns or Lender and Borrower, subjecllo the provisions
<br />of paragraph 17. Borrowe,'. covenants and agreemenls shall be joint and seyeral. Any Borrower who co-signs Ihis Security
<br />Instrument but does not e.ecule the Note: (a) is co-signing this Security Instrument only to mongage, grant and convey
<br />that Borrower's interest in the Property under theteons of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees 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 the Note without
<br />that Borrower's consent.
<br />12. Loan CIw'8a. If the loan secured by this Security Instrumenl is subject 10 a law which sets maximum loan
<br />charges, and thaI law is finally interpreted so thaI the interest or other loan charges collected or to be callecled in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge 10 the peonilled limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower, Lender may choose to make this rerund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower, If arerund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. LellsIaU.. AlrecliDl Lender'. R1llblli. If enaclment or e.piration or applicable laws has the elfecl of
<br />rendering any provision oflhe Note or this Security Instrument unenforceable according to its terms, 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 />pennitted by paragraph 19. !fLender e.ercises Ihis option, Lender shall take lhe steps specified in the second paragraph of
<br />paragraph 17,
<br />14. Notiees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by fint class mail unless applicable law requires use of another method, The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender, Any notice to Lende, shall be giyen by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrow~r. 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. GonmlllJl Law; S.nrabilll)'. This SecurilY Instrument shall be goyerned by federal law and the law of Ihe
<br />jurisdiction in which the Propeny is located. In the event that any provision or claultC of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given efl'ect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable,
<br />16. Borrower'. Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument,
<br />17. TrlDlfer of the Property or I Benefleial Interest In Borrowe,. If all or any pan of the Property or any
<br />interest in it is sold or tnDiferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this SecurilY Instrumenl,
<br />If Lender excrcises this option. Lender shall give Borrower notice of acceleration. The notice shaH provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay al15ums secured by
<br />this Security Instrument, IrBorrower rails to pay thl5e sums prior to the expiration of this period, lender may invoke any
<br />remedies penniUed by this Security Instrument without further notice or demand on Borrower.
<br />II. Borrower'. Rlabt 10 Reillltate. If 8orrower meets ccnain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior (0 the earlier of: (a) S days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Propeny pursuant to any power of sale contained in Ihis
<br />Security InilTUJncnt; or (b) entl)' of a judsment enforcing this Security Instrument. Those conditions are Ihal Borrower:
<br />(a) pays Lender all sums whicb then would be due under this Security Instrument and the Note had no acce~eration
<br />occurred; (b) cures any derault of any other covenants or agreements; ec) pays all expenses Incurred in enforCing thiS
<br />Security Instrument, including. but notlimitcd to, reasonable attorneys' fees; and (d) takes !touch action as Lender may
<br />reasonably requite to assure that the lien of this SecurilY Instrument, Lender's rights in the Propeny and Borrower's,
<br />obligation 10 pay the sums sc<:urcd by this Security Instrumenl shall continue unchanged. Upon relnstalement by
<br />Borrower. thIS SeeU"t)' Instrument and the obli.ations secured hereby shall remaID fully crfectlve as If no acceleration had
<br />occurred. However. this ri&ht to reinstate sball nol apply in the case of acco:lerBl1un under paT38raph~ J 3 or 17
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