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<br />88- 10540B
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<br />If lender required mongogc insurance as a condition of making the loan secured by this St.-curity Instrurnent,
<br />Borrower shall PO)' Ihe premiums required to maintain the insurance in effect unlll such lime as the requirement for the
<br />insurance lermin:Jtes in accordance with Borrower~s and Lender's wrilten agreement or applicable Ic.w.
<br />8. Inspection. Lender or its ogent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower noticent the timeofor prior to 110 inspection specifying reasonable cause for Ihe inspection.
<br />9. Condemnation. The proceeds of Dny award or claim for damages, direct or consequcntiul. in connection with
<br />Dny condemnation or other taking of any part of the ProperlY. or for conveyance in lieu of condemnation, nrc hereby
<br />ossigned ond .holl b. poid 10 Lcodcr.
<br />In the: event of a totnl Hiking of the Property, the proceeds shall be: applied 10 tt~e sums secured by this Security
<br />Instrument. whether or nm then 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 totnl amount of the sums secured immediately
<br />before lhe laking, divided by (b) the fair markel value uflhe Propeny immediately before the taking, Any balance shall be
<br />paid to Borrower.
<br />Jf the Property is ab:mdoned by Borrower. or if, Llfter notice by lender to Borrower that the condemnor offers to
<br />make an dWiu'd of settle a claim fordamngC'i. Borrower fails 10 rcsll(}t1d to lct1dcr within 30 days !'tfll:r Ihe dale Ihe notice is
<br />givclI, Lender is authorized 10 collect and apply lhe proceeds, at its option. either to restorp.tion or repair of the Property or
<br />to the sums secured by this Security Instrument. whether or not then due,
<br />Unles..'i. 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 parngraphs 1 and 2 or change the amount of ~lUch payments,
<br />10. Borrower Not Releasedj Forbearance By Lender Not B ",'siver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any succ~ssor in
<br />interest of Borrower shall nOl 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 SUCCI."Ssur in interest or refuse 10 eXlend time for
<br />payment or otherwise modifv amortization ofrhe sums secnred by this Security Inslrument by reason or any demand made
<br />by the original Borrower or Horrower's successoP.i in interest. Any forbearance by l.~nder in exercising any rigll1 or remedy
<br />shall nol be a waiver of or preclude Ihe c:\ercise of any right or remedy.
<br />It. Successors and Assigns Bound; Joint and Several Liability; Co-.slgners. The cuvenants and ugr~ements of
<br />(his Securily Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17" Borrowcr'~ covcnanl~ and agrl."Cments shall be jnint and sc\'cral. Any BOirowt.:r whl) co-signs Ihis Security
<br />Inslrument but docs not C'xeculc the Note: (a) is co.signing IhlS Security lnstrument only to mortgage, grant und convey
<br />that Borrower'!. in(crOlt m Ihe Property under the lerms of thl!'! S~curily Instrument: (h) i!\ nnt pcr.-.onally obligated In pay
<br />the sum!t ~ecured by this Security Instrument; and (c) agree-. thai Lemler and any other Borrower "my agree 10 extend.
<br />modify. forbear or make any accommodations with regard 10 the Icrms of Ihis Security Instrument or the Nole withoul
<br />that Borrower"!t consen!.
<br />12. Loan Charges. If the 10Lln !IoCcured by this Secumy Inslrum<<:nt is subject to a law which !'octs ItlllximuIn IOlln
<br />charges. and thai law is finally interpreted 50 Ihal the inleresl or other loan charge, collcl'tcd or to he wllected j'l
<br />connection with lhe Inan cxct:ed the pennined limits. then7 (a) any such loan charge !-olmll he redul'cd hy the amounl
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrnwer which exceeded
<br />permillt.-d hmits will be refunded to Borrower, Lender may chclOSC' IU make this refund by reducing the principal owed
<br />under the Note or hy making a direct paymenr 10 Borrower. If a refund reduces principlll. 1111: rl'duction will he IreuteJ as a
<br />partial prepay men I Wltliout any prepaymenl charge under Ihe Note.
<br />13. Legislation AlI'rcting Lender's Rigbts. Ir enactment or expmtlltHl of lIpphl'uhlc IllW!'! has Ihe effect of
<br />rendering any provi~lOn of the NUle or this SecurilY Instrument unenforceahll' aCl't1rdlng 11111' Icrrn... I.ender, III it~ option,
<br />may require immediale payment In full of all sums secured by tht.. SeeUnl)' III'trumelll Llnd TT111Y II1vok~ any remedies
<br />pc:nnilled by paragraph I q. If lendcreJlcrcisc:s Ihis option, Lender shall luke Iltl' ,Iep' 'pcl'llicd III the !-oecond purugruph of
<br />porngrnph 17.
<br />14. Notices. Any nOlice to Borrower provided for In till' Sl'!:UTlI} III'trUOll"lIt ,hilll hc gl\-l"lI h)' delivering it or by
<br />mailing it by finot class mail unless applicable law requires U!lC of enothcr melhod I hc 11l1l1!:C ,Imll he directed 10 Ihe
<br />Property Addrc:s!t or any o1her address Borrower designalcs 11) Dollcl' tn l.I.'IllJef An)' lloth.:e In Lender !-ohall be giv~1l by
<br />first class mail to lender's address slated herl.~n or any tither llIJdrc,!-. Lender dC'llglllllc, hy lltllU.:e ItJ Borrower. Any notice
<br />pro,,'ided for in this Security Inlilrumenl !lhall be deem~d 10 have been gl\cn 10 flllrJ'O",cr or I.cnder when given as provided
<br />in thiS paragraph,
<br />1.5. Governing Lawi Severability. This Secunty Instrument o,hull hl' /-!lI\Cflll'd h~ fcderullaw and the law of the
<br />jurisdiclion in which the Properly is localed, In the e...entthat any pro...i!-oiuJ1 nr dllll'C Ill' Ihl' Security Instrument or the
<br />Note c~nfticts with applicable law, such conflict s.hall nol alfecl oth~r prm:l!-olom of Ih" Secllrily In!-olrunh:nt tJr the Note
<br />which can be: given effect without the conflicting provision. To thl!~ end lhe pf(l\'i~lol1'" of 11m Securily Instrument and the
<br />Note are declared to be se\'crable.
<br />16. Berro"er's Copy. Borrower shall be given one conformed copy nf Ihe NOlc and of Ihis Securil}' In!'olrllOlent,
<br />17. Transfer DC the Property or a Beneficial Interest in Borrower. If all or any purt of the Property or alt)'
<br />inr~r~1 in it is sold or transferred (or if a beneficial interesl in Borrower i!-o !-oold or Iran..fcrrcu and Borrower i.. fllll a natural
<br />penon) \\'ilhout Lender's prior wriUen consent, Lender ma)'. at ils optiun, n:quHl" irnmediulc pilymclIl in full of i111 !-oum~
<br />secured by this SecUrlt)' Instrument. However, this opliun shall nnt be eJliC:1 cl!'oc:d by Lender If e'Lcrci!\e i:-. prohihitt:d by
<br />rcdc:ral1aw as ofthc: dote of this Security Instrument.
<br />IfLcndcr elLcrel~ this option, Lender shall give Borrower notice ofacccleralltm" The notice !-ohall provide a perJllll
<br />of nOlless than 30 day~ from the dale Ihe notice is deli\'ered or mailed within which norrower muo,l pay all "'UIn!-o sl."Cun:d hy
<br />thn, Security lru.lrument. If Borrower fails to pa)' these sums prior to the e~piration ofthi!'o penod. Lender may l1I\'oke uny
<br />remedio permitted by this Security Jnslrument without funher notice or demand on Darrower.
<br />lB. Borrower', Rlpt to Reinstate. If Borrower mecls certain condition" Uorrnwcr ..hull hu...c the right III hLl\iC
<br />mfon:cmenl of Ihis Securit)' l05trumen1 discon1inued at ony time prior to lhe curlier of: (a I 5 day' (or ,ueh nther p~riod ....
<br />applicable law ma) !l.pccir)' for reinstatemenl} befure sale of the Property rur!-oullnt lO UII}' power of ,ale L.:Ontillfll'd 1TI thl'
<br />Security Instrument; 0;- (h) entry ofajudgment enron:ing rhls Security In..truml'nl" Tho'll.' COOthtlllfl!<o ilre that UnrrOWl'r
<br />h.) P3)'" Lender all 5um~ which then would be due under Ihi!> Set;unry In..lrument ilnd the NtHe had nil ill'I.:c1cCiHllHl
<br />occurred; (b) curcs Dny default of un}.. other co\'ellanl\ 1lI agreement!>; (e.:) PU)'" aU c~pen'l" lIIcurfed III l.'lIftlrCIIl~ Ihl'
<br />Sc:curit), Im.trllmc:nt, Including. but nnt hmtlcd 10. rC"'..t!\onahle oltornc)"" rl.'1...... and Ill) Illh... ,ue.:h .IL.tltm 01'1 I t:lllln IIl.1)
<br />rQ\llnllbly require tnll!l.!.ure that the hen of lhl!! ScxUT1I) fno,trumenl. I.ender', rlghh 11\ lhc I'rnpcrl) and Bnrrll\\l""
<br />nhhgallon to pa) rhe !ium!!. ..ecurcd h)' this SCC;Unl) In'lolrUmenl ,hall ~nnllllUc ulldllln~t"d l"I'''1l rt'III'I.lll"rTIl'rll h,
<br />IkUrU'4C'f. Iltl!. SC1,"urll) In..trument ilnd Ihe ubhgullull'l 'o..:ura1 herch~ ..hall rCnlOlIll full) dTI"L ll\l' ,1' lllltl ,h \ dl'r ,1110111 h.1I1
<br />IJ(CU"a:f U0'40~r. Ihi\ nghlln rcm..lale ..hall n(llarrly In the (/I'-C of al"l'ch,'rululll undn p,lr.tt!'''plh II. or ! ~
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