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<br />88- 105183
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<br />If Lender required monlllll" insurance as a condition of making the loan secured by thil Security Inltrument,
<br />BorrmiCr sIiiU..y the premiums requlred to maintain the insurance in elfect unlilluch time as lhe requirement for the
<br />insunince !Ciminlt.. in accordance with Borrower's and Lender's wriUen agreement or applicable law.
<br />'B. laapeed.... Lender Dr illl agent mlY mike reasonlble entries upon and inspections of the Propeny, Lender
<br />shall givellorrowcr notice at the time of or prior to an inspection specifying reasonable cause for the inspection,
<br />II. Condemaalloa. The proceeds of any award or claim for damages, direct or con&equential, in connecli<>n with
<br />any condemnation or other laking of any ..n of the Propeny, or for conveyance in lieu of condemnation, are hereby
<br />I51iped and shall be paid to Lender,
<br />In the event of a total laking of the Propeny, the proceeds shall be applied to the sums secured by this Security
<br />Instrumcot, whether or DOl then due, with any excess paid to Borrower, In the event of a penial liking of the Properly.
<br />unJ... Borrower and Lender otherwise Igree in writing, the sums secured by this Security Instrument shall be reduced by
<br />tbe amount of the proceeds multiplied by the following fraction: (a) the total amount of tbe sums secured immediately
<br />before the taki"80 divided by (b) the fair market value oflhe Propeny immediately before the taking, Any balance shall be
<br />paid \0 Borrower,
<br />If the Property is lbandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award orseule a claim for damages, Borrower fliJs to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and Ipply the proceeds, at its option, either to restoration Dr repair of the Propeny or
<br />10 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 ..yments referred to in paragraphs I and 2 or change the amount of such payments,
<br />10. Borrower Not Releued; Forbearuce By Lender Not I Waiyor. 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 nol operate to rei.... the liability of the original Borrower or Borrower's successors in interest,
<br />Lender shall not be required 10 commence proceedings against any successor in interest or refuse to extend time for
<br />paymenl 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 interesL Any forbearance hy Lender in exercising any right Dr remedy
<br />shall not bel waives' ofor preclude the exercise ofany right or remedy,
<br />1L S_ and AaaI.... JIoWId; Joint and Snenl Uabilltr, Co-sign.... The covenants and agreements of
<br />this Security Instrument shall bind and benditthe successon and assigns of Lender and Borrower, subject to the provi,ions
<br />ofparasrapb 17. Borrower's covenants and agreements shall bejoint and several, Any Borrower who co-signs this Security
<br />Instrument but does nOl execute the Note: (a) is co-signing this Security Instrument only to mongag.. grantlnd convey
<br />that Borrower's interest in the Properly under the terms of this Security Instrument; (b) is not personally obligated 10 pay
<br />the sums secured by thil Security Instrument; and (c) Ilgr<e5 that Lender and any other Borrower may agree to extend,
<br />modify, forbeer or make any acc:ommodations with regard to the tenns of this Security Instrument Dr the Note without
<br />that Borrower's consenL
<br />12. LouI Owpa. If lhe loan secured by this Security Instrument is subject to a law which sets mllllimum loan
<br />charges, and thal law is Ilnally inlerpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the pennilled limits, then: (a) any such loan chlrge shall be reduced by the amount
<br />necessary to reduce the charge \0 the pennitted limit; and (b) any sums aJreody collected from Borrower which exceeded
<br />permitted limits will be refunded \0 Borrower, Lender may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment \0 Borrower. If a refund reduces principal. the reduction will be treated as a
<br />panial prepayment without any prepayment charge under the Note.
<br />13. LelPaJatIOII AlrectiDa Leader'. RIcbta. If enactment or expiration of appUcable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceablellCCllrding to its terms, Lender, It its option.
<br />IDlY require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragrapb 19, If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17,
<br />14. Notias. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mai1ing it by first class mail unless applicable law requires ... 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 Lender shall be given by
<br />firsl clasl mail to Lender's address stated herein or any other address Lender designates by notice 10 Borrower, Any notice
<br />provided for in this Security Instrument shall be deemed to hive been given to Borrower or Lender when given as provided
<br />in lbis paragrapb,
<br />15. GoYendq LaW; SnenbIIlty. This Security Instrument shall be governed by federal law and the law of the
<br />juriadielion in which .~.. Property is located, In the eventlhat any provision Dr cll... of this Security Instrument Dr the
<br />Note conIIic:ts with applicable law, such conllict shall not affect other provisions of lhis Security Instrument or the Note
<br />whieb can be giveD effect without the conllicting provision, To this end the provisions of this Security Instrument and the
<br />NOleare declared \0 be severable.
<br />16. 1Iornnn!r'. Copy. Borrower shall be given one conformed copy ofthe Note and of this Securi.y Instrument.
<br />17. Tnufer of the Property or I Beneficial Interest in Borrower. If all or any pan of the Property or any
<br />interet in it is sold or transferred (or ife beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />penon) without Lender's prior written consent, Lender may. at its option. require immediate payment in ful1 of all sums
<br />1eCUred by thil Security Ill5lrumenL However, this option shall not be exercised by Lender if exercise is prohibited by
<br />rederallaw as of the date of this Security lnstrumenL
<br />If Lender aercise5tbis option, Lender shaD give Borrower notice of acceleration. The notice shalJ provide a period
<br />of DOl .... than 30 da)'l from the date the notice is delivered or mailed within which Borrower must pay all sums secured hy
<br />thi. Security IDIlJ11ment, If Borrower fails to pay these sums prior to the expiration or this period, Leoder mlY invoke any
<br />remedies permined by this Security Insttument without further notice or demand on Borrower.
<br />II. JIarrcnrerIa RiP' to RemItate. If Borrower meets certain conditions. Borrower shall haye lhe right to have
<br />enforcemeut of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (0. such other period as
<br />IppIicable Ia.. may speciry for reinmllanenl) before sale or the Property pursuant '0 any power of sale contamed in thi,
<br />Security IllIlr1Iment; or (b) entry of I judgment enforcing this Security InstrUmenl, Those conditions are .hat Borrower:
<br />(I) ..yo l.eDder aU sums whicb then would be due under this Security Instrumenl and the Note had no acceleration
<br />occUl'l1!d; (b) C11RS any defauh of any other covenants or qreemenlS; (e) pays all expenses incurred in enforcing Ihls
<br />Security )nsIrumenl. including. but not limited to, reasonable attorneys' fees; and Cd) takes such action as Lender may
<br />reaonabIy require 10 lISSure thai the lien of this Security Instrument. Lender's nghlS in the Property and Borrower's
<br />obIiptiexl to pay the sums secured by this Security Instrument "ball continue unchanged. Upon mnstalement by
<br />Borrowtr. thii Security Instrument and the obliptiom secured hereby shall remaIn fully dfecl1\'e as If no acceleration had
<br />occurred. Howrver. this riP' to ranltate s.halJ nol apply In the casc of acceleration under paragraph!! 13 or 17
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