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<br />88_105113
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<br />If Lender required mortgage insurance as a condition of making the loan secured by thili Securit}' Instrument,
<br />Borrower shall pay the premiums required to muinlain the insurance in effect until such time as the requirement for the
<br />insurnncc Icnninntc:s in accordance with Borrower's Dnd Lender's written agreement or applicable law.
<br />8. Inspection. lender or its agent moy make reasonable entries upon and inspections of the Preperty. Lender
<br />shall give Borrower notice al the time: of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of Dny award or claim for damages, direct or consequential, in connection with
<br />tiny condc:mml1ion or other tnking of Dny part of the Property. or for conveyance in lieu of condemnation. are hereby
<br />assigned and shan be paid to L.ender.
<br />In the event of a tolal taking of the Propert}', the proceeds shall be npplied to the sums secured by this Security
<br />Instrument. whether or not then due, wilh any excess paid to Borrower. In the event of a partial laking of the Property,
<br />unless Borrower and L.ender otherwise ngree In writing, the sums secured by this Security lnstrument shan be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (n) lhe lotal amounl of the sums secured immediately
<br />before the taking, divided by (b) the fair market vaJue of the Property immediately before the taking, Any balance shall be
<br />paid to Borrower,
<br />[fthe Propeny is abandoned by Borrower. or if. after nolice by Lender 10 Borrower thai the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond 10 Lender within 30 days after Ihe date the notice is
<br />given. Lender is authorized to conect and apply the proceeds, at its option, either to reslorntion or: repair of the Property or
<br />to the sums secured by this Seeurit)' Instrument, whether or nol 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 B 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 />interest of Borrower shall 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 10 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 exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy,
<br />11. Successors and Assigns Bound; Joint and 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 several. Any Borrower who co-signs this Securily
<br />Instrument but does not execute the Note: (a) is co-signing this Security [nstrumenl only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrumem; (b) is not personally obligated to pay
<br />the sums secured by this Security Ins1rument; 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 [nstrumen1 or the Note without
<br />that Borrower'sconsent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to n Jaw which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges conceted or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such Joan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) 3ny sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower, Lender may choose 10 make this refund by reducing the principal owed
<br />under the Note or by making a direct payment 10 Borrower. If a refund reduces principal, the reduction wiIJ be treated as a
<br />partial prepayment without any prepaymenl charge under the Nole.
<br />13, Legislation Affecting Lender's Rights, If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the 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 />permitted by paragraph 19, If Lender exercises this option, lender shall take the steps specified in Ihe second paragraph of
<br />paragraph 17.
<br />14, Notices. Any nolice to Borrower provided for in lhis Security lnstrurnent shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requiro use of another melhod, The notice shall be directed to the
<br />Propeny Address or any other address 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 addres!oo Lender designates by notice to Borrower. Any notice
<br />provided for in this Security In~trument shall be deemed 10 have been given to Borrower or Lender when given as provided
<br />in this paragraph,
<br />15. Governing LaWj Severability. This Security Jnstrumenl shall be governed by rederallaw and the law of the
<br />jurisdiction in which the Property is Jocated, In the event thal any provision or clause of this Security Inslrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the NOle
<br />which can be given effecl without the conflicting provision. To this end the provision!> of this Security Inslrument and the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and oflhis Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />tnlerest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />pe~an) \l,'ithout Lender's prior written consent. Lender may. at its option, require immediate payment in full of all sums
<br />M:Cured by this Security Instrument. However, lhis option shall not be ~xercised by Lender if exercise is prohibited by
<br />federalla\\' as oflhedate of this Security Instrument.
<br />IfLcnder exercises this option, Lender shall give Borrower notice of acceleration. The notice shaH provide a period
<br />of nolless than 30 days from the date the notice is delivered or mailed within which Borrower must pay an ~ums secured by
<br />thi!lo Security Instrument. If Borrower fails to pay these sums prior to the expiration ofthi~ period, Lender mny invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower~s Right to Reinstate. If Borrower meets certam conditions, Borrower shall hll\'C Ihc nght 10 have
<br />enforcement ofthi~ Securit)' Instrument discontinued at any lime prior to the earlier of: (a) 5 days (or such other period ns
<br />applicable law lOa). !opecif}. for reinstatemenl) before sale of the ProperlY run.ulInl 10 any p<J\\,'er l1f ..ale ~onlalncd In thi..
<br />Securit> Instrumen1; or (b) coer)' ofajudgment enforcing Ihl!o Sc,:unIY In!tlrumt:1l1. Those conditIOns arc that Rorrnwer
<br />(3) pay!. Lender all "iums which then would be due under thl' Security In!olr-umenl and the Nole had nn UCC'c:ICrutlllTl
<br />occurred; (bl cure!. nn)' default of any other co\'cnant!t or agreement"; (el pay.. all expen..c\ mcurr('d Itl cnfon:lOj; Ihl'
<br />Securit) Inslrumenc. Including., hut not limited to, reasonahle allorney'" fee!., and ldlln....e!o ...\Il.:h aellllll U!o l.cndrr may
<br />rea~nably require to a!...urc thai the lien of thi.. Secunt)' In!otrumC'nl. I ('nder'.. np:ht... 10 Ihe Pnlperl) and Bllrro\\.'c:r'!'t
<br />obJigatlon 10 pay lhe ..urn.. ..ecurerl hy (hi, Sc{.'unty In...trumcIU ..hall \..C10tIllUt' Ul1dlall~t'J ("pLIO IC'lll...talenlent h~
<br />Borrower, Ihl.. Sn'Ufll) In\trumcnt and the (lbllglltlon!oo ..C'~ured herl'h~ ..hall rcmam full~ elf('dl\ l'll" If Ih! an:dl'l':llltll1 h:1l1
<br />occurred Uo\\C'\.er, lhl'longht to tem..latr: 'thallnot apply IIIlh(' La...c llf "cLckr,lllttTl umlL'r pilr~'l::.filrh... I \ '~I 1 ':'
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