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<br />884.05264
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower ~hDII pay the premiums required 10 muinlain the insurance in effect until such time as the requirement for the
<br />insurance tenninotes in accordance with Borrower's Bnd Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agenl may make reasonable entries upon and inspections of the Propeny. Lender
<br />shall gh'e Borrower nOlice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of.aoyl'award or.claim for damages, direct or consequential, in connection with
<br />an)' condemnation or other taking of any part of Hie Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned Bud shall be paid to Lender,
<br />In the event of a lotallaking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess p&id to Borrower, In the event of a panial taking of the Property,
<br />unle:os Borrower and Lender otherwise agree in writing. the sums secured by this Security Instrument shall be reduced by
<br />the amounl of the proceeds multiplied by the following fraction; (a) the 10tal amounl of Ihe sums secured immediately
<br />before lhe laking, divided by (b) lhe fair market value of the Property immediately before the taking, 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 seule a claim for damages. Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to coHeet and apply the proceeds. al its option, either to restoration or repair of the Propeny or
<br />to the sums secured by this Security Instrument, whether or not lhen due, '
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nol extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a \\'aiver. 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 a waiver of or preclude the exercise of any right or remedy,
<br />11. Successors and Assigns Bound; Joint and Se,eral LiabilitYi 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 ",ho co-signs lhis Securiiy
<br />Instrument but does not execute the Note: (a) 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 Securily Instrument: (b) is nOI 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 Of make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower.s consent.
<br />12. Loan Charges. If the loan secured by this Security Jnstrument is subject to a law which sets maximum loan
<br />charge.. and that law is finally interpreled so that the in!erest or olher loan charges coJlected or to be collected in
<br />connection with the loan exceed the permit1ed limits, then: (a) any such Joan charge shall be reduced by the amount
<br />necessary to reduce the charge to lhe permitted limn: and (b) any sums already collected from Borrower which exceeded
<br />pennitted limits will be refunded to Borrower, Lender may choose to make Ihis refund by reducing the principal owed
<br />under the Nott: or by making a direct paymcntlo Borrower, If a refund reduces principal. the reductlon will be treated as a
<br />partial prepayment without any prepayment charge under the Note,
<br />13. Legislation Affecting Lender's Rights. If enactmenl or expiration of applicable laws has the effect of
<br />rendering Bny provision of the Note or this Security Im,trument unenforceable according 10 its lerms, Lender. al its option.
<br />may require immediate payment 10 full of all sum!! secured by Ihi!. Securily Instrument and may invoke any remedies
<br />permitted by paragraph J 9, If Lender exercises thi!l option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17,
<br />14. Notices. Any notice 10 Borrower proVided for in thi!! Securily Instrumenl shall be given by delivering it or by
<br />mailing it by first class mail unless applicable Juw reqUires u!!e {If another method. The notice shall be directed 10 the
<br />Propc:rt:y Address or any other address Borrower dcsignate!o. by notice to Lender, Any nOlice 10 Lender shall be given by
<br />first class mail 10 Lender's address stated herein or any olher address Lender designate!. by notice to Borrower, Any notice
<br />provided for in this Security Instrumenl shall be deemed to have heen given to Borrower or Lender when given us provided
<br />in thi!! paragraph,
<br />IS. Governing Law; Severability. This Secunly Inslrument shall be governed hy federal law and the law of the
<br />Jurisdiction in which the Property is located, In the event that any proviSion or duu!o.c of lhi!. Sel'urily Jnstrument or the
<br />Note conflicls ",ilh applicable law. such conflicl shall not affect other provisions (If this Security Jmarument or the Nole
<br />which can be given effect without the conflicting provision, To this end the provision!. llfthi~ Security Instrumenlllnd the
<br />Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be given one conformed ((lPY oflhe Note and ofthi!o. Security lnstrumenl,
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property Llr an~'
<br />mterest in it is sold or transferred (or if a beneficial interesl in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender.s prior written consent. Lender may. at it!. option. reqUire immediate payment in full of all 5um!oo
<br />secured by this Security Instrument. However. thiS option shall not be exercised by Lender If exercise is prohibiled by
<br />fcderallaw as of the date of this Securit)' Instrument.
<br />)fLender exercises [hiS option. Lender shall give Borrower nollce of uccelcralion, The notice shall provide.a peri()d
<br />of not less than 30 days from the date the notice i~ delivered or mUlled wllhm which Borrower rnu!oot pa): all..um!o. !o.ecured by
<br />thl!<t Secunty Instrument. If BorroYo'C:i fails to pay these sums pnor to the explrallon oflhi!o. period. Lender may im'oke any
<br />remedies pennined b)' this Security Instrument without funher notice or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meel~ certain condition!>. Borrower ~hall have Ihe nght 10 hu\'e
<br />en[orcemenl of this Security Instrument discontinued ot any time prior 10 Ihe C'drhcr of: fa) 5 day!> (or ...uch olher penod lI!o.
<br />apphcable la'll.' ma:!o' specify for remstalemen1) hefore sale of the Property pur..uunl 10 any power of ...ale efllltulOed 10 Ihi~
<br />Scc:un1) In!>lTUmc:nt; or (b) entry of a Judgmcnl enforcing thl!. Secunly In!olrumenl Tho-.e condllHln!'o arc that Rorrnwcr
<br />(a) pay!!. Lender all sum\ which then would be due under thl!! Secunl~ Imtrument and lhe ~Ole had nil <I.:~'ekrutlnn
<br />occurred; (b) curC"o an~' default of any other cOH'nanls or agreement-.. IU pay.. all e'pen!1t"'o lflcurred In enfI1rr.:l1Il! th"
<br />Secunl)' In\.trumenl. mduding. hut nol hmlled 10. reasonable altorne)..' fct..... :.md Idlluh.t"o ..ul.h ill'lll1n i'" I.ender ma~
<br />rea!J.onabl) requut tll a'i!oure Ihal Ihe hen of thl!. SecurllY Instrumt'nl. I cTII,kr', n~ht, III lhl' 11rtlp,=,ny Ilml Borr\'\4er'..
<br />ubhl:!l1llon 10 pa) lhe ..urn.. ..ecured hy thl" Set:unl) In..lrumenl ..hull l-nnlltluc IIlh_ hllll~["d t'r"lll rl'II\"I.llt"l1ll"T\1 h~
<br />Borrn....er. Ihl.. Sel:unl~ In..aument and the nhhgawlTI" ..el'ured hereh\- ..hall It'1I1altl lulh etTl-lll\ t" ,I' tt Ht' ih \ t'le:'llh'l\ It.ld
<br />l....~'urrcd Iln\o\t'\t'I. thl~ nJ!hlln rt'm"latc ..tlllll 0"1 apph mlhe la..r ,.! ih l I"It"' ,.1" 'II urukl P,II ,I~~I ;lph.. 1\ 'I 1-
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