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<br />88- 105083
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<br />If Lender required mortgage insurance as D condition of making the loan secured by Ihis Security Jnstrument,
<br />Borrower ~hall 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 applicable law.
<br />8. Inspeclion. Lender or its agent may make reasonable entries upon and inspections of the Property. 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 pan of the Property, or for conveyance in lieu of condemnation, ure hereby
<br />assigned and shall be paid to Lender,
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument. whether or nollhen 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 lakin-g, 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 cJaim for damages, Borrower fans to respond to Lender within 30 days after the date the notice is
<br />given. Lender is authorized to conect 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 nol then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds 10 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 a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of th.. 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 oflhe sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in mterest. Any forbearance by Lender in exercising any right 0'- remedy
<br />shall not bea waiver of or preclude the exercise of any right or remedy,
<br />11. Successors and Assigns Bound; Joint Bnd Several 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 covenants and agreements shall be joint and !\evernl. Any Borrower who co-signs.-this Security
<br />Instrument but does nl't execute the Note: Ca) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security InsleumeRt: (b) is not personally obligated to pay
<br />the sums secured by this Securit}' Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make an)' accommodations with regard to the lem1S of this Security Instrument or the Note without
<br />that Borrower's consent,
<br />12. Loan Charges. [fthe loan secured. by this Security Inslrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the inlerest or other loan charges collected or to be collected in
<br />connection with the Joan exceed the permitted limits, then: (a) any such Joan charge shaU be reduced by the amount
<br />necessary to reduce 1he charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose IC1 make thiS refund by reducing the principal owed
<br />under the Norc or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated us, a
<br />panial prepayment without any prepaymen1 charge undcr thc Note.
<br />13. Legislation Affecting Lenderts Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceablt: according to its lerms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security )nstrument and may invoke any remedies
<br />permined by paragraph 19. If Lender exercises this option, Lender shaH take the steps specified in the second paragraph of
<br />paragraph l7.
<br />14" Notices. Any notice 10 Borrower provided for in lhis Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unlcss applicable law requires use of another method. The notice shall be directed to the
<br />Propen,y Address or any other addrcss Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any other 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 />IS. Governing Law; Seyerability. This Security (nstrument !Ioball be governed b)' fedentlluw and lht: law (If lhe
<br />juriwiction in "".hich (he Property is local ed, In the event lhat any provision or clause of this Security In!:.trumenl or the
<br />Not~ conflicts with applicable law. such conflict shall not affect other provisions (If this SecuriLy Instrument or the Notc
<br />whIch can be given effect withoul the conflicting provision, To this end Ihe provisions ofthi!> Security In!:.trumenl and Lhe
<br />Nole are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be gi'l,'en one L:onformed copy of tht: Note and of I his Security I nstrumenl.
<br />17. Transfer of the Propert)' or a Beneficlallnterest in Borrower. )f all ur any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower i!'r sold or lran!tfcrred and Borrower is not a natural
<br />person) ~'ithout Lender's prior written consent, Lender ma,)', at it!:. option, require immediatt: payment in full of all !turns
<br />secured by this Security Instrument, However, this option shall nm be c:\cn:iscd by Lender if c.I(crci!.e is prohibiled by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exCf(.;ses this option, Lender shall give Borrower nolice of acceleration. The notice shall provide a period
<br />of.notless than 30 days from the date the noBce is delivered or mailed within which Borrower must puy all !o.um!t !teL:un."ti by
<br />thiS Security InstrumenL lfBorrowcr fails to pay these sums prior to Ihe expiration oflhi!'o period, Lender may ill\'oke an)
<br />remedies permitted by Ihis Security Instrumenl without funher notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower mecls certaJn conditinm., HorrO\wr shall han: lhc ngin In havc
<br />cnrorcenu:nt ofthi!> Security Instrument discontinued al any time prior to the earlier of: (a) 5 day~ (or !tuch olher pcnm.lll"
<br />applicable Jaw ma)' ~pccif)' for reinstatement) before sale ofthc Propen)' pU~llanl to an): pll\\er of!'oah: t.:OlllilllH.'J 1TI1tm
<br />Security Instrument; or (b) en1t)" of a judgment enforcing this Securit}, In~lruml-nl. Those condillon!t lire thai Borrl1wc:r
<br />(a) pa),.s Lender an sums which rhen would be due under thi" Secunly Instrument and Ihe NOIe hml Ill! .h:l.dl'r.lIIll11
<br />occurred; (b) curo. any default of any other covenants or agreement!:.; (c) pay!:. all C'ApCJ1!.C!t mcurrcd III l...nfllll.'lII~ 11m
<br />Seeuril) In!lolrUment. mduding, but not hmited 10. rea!>Onuble attorne)',," fee,,; and Cd) rakc!'r "uch al."llnll a.. l.l'lIlh'r 1lI11)
<br />rca!oonabl) require to M!.ure that the hen of thiS Securitl Instrument. Lender"!'r nght!o. 10 tht: PrupCtl~ .UHJ Iiml\lo,H'r',
<br />obhgallon to pay the sums. !M..'Curcd b)' this Sa::urit). Imrtrumcnl !'thaI} continue: undmnged l'p\lll H'1I1'lall'l1l1"ll /to,
<br />Borru...tr, Ihl'" Sel."Unl)' In!t.trumcnl und the (lbhptlOn'" ..C'cured hcreb) ..hall remam full~ dlei:ll\l'..... lllh' ,II. Li'kr .\110111 lI.hl
<br />.....I.und! .fo'lAoC'\cr" thl" nfthl 1t1 rem!oluh: ,hall filiI up pi} In the L:ll"C ,If 1l1.l.:dcrat1\lII umkl tMr;lt::f,lph.. 11 ,'I t ~
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