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<br />88- 105185
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<br />If Lender required mongage insurance as a condition of meking the loan secured by this Security Il15trumenl,
<br />Bol'rower shall pay the premiums required to maintain the insurance In effecI until such time althe requirement for the
<br />insurance tenninlltes in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. laapeet!oa. Lender or ilS agent mlY make reasonable enlries upon and in'pections or the Propeny, Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cau.. for the inlpection,
<br />9. CondellUllldon. The proceeds ofaDY award or claim for damages. direct or consequential. in connection with
<br />Bny condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned Ind 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 not then due. witb any excess paid to Borrower. In the event of B 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 lolal amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market .a1l1e of the Propeny immedialely before the laking, Any balance shall be
<br />paid 10 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 damagcs. Borrower fails to respond to Lender within 30 days afler the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds. at its option. eilher 10 restoration or repair of the Propeny 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 paregraphs I and 2 or change the amount of such paymenlS,
<br />10. Borrower Not Rei"""; 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 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 exercising any right or remedy
<br />shall not be I waiver of or preclude the OlIe",i.. or any right or remedy,
<br />11. Snceeaaora IUd AaalliD5 Bonnd; Joinl and Seve'" Liability; Co-signers. The covenanlS 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 11, Borrower's covenants and agreements shall be joint 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 mongag.. grant and convey
<br />that Borrower's interest in the Property under the tenns 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. Loau CIargea. If the loan secured by thi, Security Instrument is subject to a Ilw which selS maximum loan
<br />charges, and that law i, finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan ..coed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limilS will be refunded to Borrower, Lender may choose to make this refund by reducing the principel owed
<br />under the Note or by making a direct plyment to 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. Lqlalallon Affecting Lender's Rlpta. 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 plragraph 19, If Lender exercises this oplion. Lender shall lake the sleps 'pecilied in the second paragraph of
<br />paragraph 11,
<br />14, Notices, Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />meiling it by first class mail unless applicable law requires use of another melhod, The nOlice 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 address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given 10 Borrower or Lender when given as provided
<br />in this plragraph,
<br />15. Gonmlng La,,; S.nnblllty. This Security Instrument shall be governed by federal law end the law ofthc
<br />jurisdiction in which the Property is located, In the event that any provision or clause of this Security Instrument or the
<br />NOle conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given dfect without the conflicting provision, To this end the provisions of this Securily Instrument and the
<br />Note are declared to be severable,
<br />16. Borrower'. Copy. Borrower shall be given one conformed copy oflhe NOle and of this Securily Inslrument,
<br />17. Transfer of the Property or a Beneficlallnterest in Borrower. ]f all or any part of the Properly or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nol 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 orthe date of this Security Instrument,
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18. Bonawer'1 Ripl to RelasbIte. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enfo~cnt of this Scc;urity Instrument discontinued at any time pnor to the carlier of: (a> S days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judBmenl enforcing this Security Instrument. Those condilions arc Ihal Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrumenl and the Note had no acceJeralion
<br />occurred; (b) cures any default of any other covenants or agreemenls; (c) pays all expcnso mcurred in enforcing Ihls
<br />Security Instrument, includmg. but not limited to, reasonable attorneys' fees; and (d) lakes such action as Lender may
<br />rtaIOfIably require to assure that the lien of this Security Instniment, Lender'Oj nghts in the Propeny and Borrower'$
<br />obtiption to pay the sums sc<:ured by this Security Instrument shall continue unch8nged Upon reinstatement by
<br />Borrower. thi;\ Sr:c:UnlY Instrument and the obligations secured hereby shall remam fully cffccll\le D!llf nn accclcrallon had
<br />occurred. HowC"ier,thls ri&tn torC'instate Ih.1I nOlapply In Ihe cue of acceleration under paragrllph!l 13 or 17
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