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<br />88- 105547
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<br />If Lender required mongage insurance as a condition of making the loan secured by Ihis Security Instrument,
<br />Borrower shall pay the premiums required 10 maintain the insurance in effect until such lime as the requirement for the
<br />insurance terminales in accordance with Borrower's and Lender's wrilten ngreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable cntries upon and inspections of the Property. Lender
<br />shall give Borrower 001 ice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of Bny award or claim for damages. direct or consequential. in connection with
<br />nn)' condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender,
<br />In the event of a 10lal taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Inslrument, whether or not then due, with an)' ex.cess paid 10 Borrower. In the event ofa partial taking oflhe Property,
<br />unless Borrower and Lender otherwise agree 10 writing, the sums secured by lhis Security Instrument shall be reduced by
<br />lhe amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking, Any balance shall be
<br />paid to Borrower.
<br />If the Propert)' is abandoned by Borrower, or if. after notice by lender to Borrower that the condemnor offers 10
<br />make an award or settle a claim for damages, Borrower fails to respond (Q Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option. either to restoration or repair of the Properly or
<br />to the sums secured by Ihis Security Instrument, whether or not Ihen due,
<br />Unless lender and Borro"'~r otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />poslpone 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 8 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 />inferest of Borrower shallnol 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 exlcnd time for
<br />payment or otherwise modify amortization of the sums secured by Ihb Security Instrumenr by rea."ion of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearum:e hy Lender in exercising any right or remedy
<br />shall nol hen waiverofor preclude the exercise orany right or remedy,
<br />11. Successors snd Assigns Bound; Joint Bnd Sc,eral Liability; Co--signers. The covenants and agreements of
<br />this Securily Instrument shall bind and benefit the SUccessors and assigns of lender and Borrower. subjecllo the provisions
<br />of paragraph J 7. Borrower's covenants and agreemenls shall be join I and severaL Any Borrower who co-signs Ihis SecurilY
<br />Instrument hut does not execute the Note: (n) is co-signing this Security Inslrument only to mortgage, grant and convey
<br />that Borrower's inten.."st in the Property under the terms oflhis Security lnslrument: (b) is nol personally obligated to pay
<br />the sum!l secured by this Security Instrument; and (c) agrees thai Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Inslrumcnt or the Note without
<br />Ihul Borrower's consent.
<br />12. LoBn Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, nnd that law is finalJy interpreted so that the inlerest or other loan charges collected or to be collected in
<br />connection with the loan exceed Ihe permitted Iimils, then: (a) any such loan charge shall be reduced by the amounl
<br />necessary 10 reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower, Lender may choose to make Ihls refund by reducing the principal owed
<br />under Ihe NOle or by making a direct payment 10 Borrower. If a refund reduce... principal, the reduction .....iII he treated as a
<br />parllal prepayment without any prepayment charge under the Nole
<br />13. LeKlslBtion Affecting Lender's Rights, If enactment or ex.piration of upplicllble laws has the effecl 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 aU sums secured by this Security Instrument and may invoke any remedies
<br />pcrmitll..-d by paragraph 19. If lender exercises this option, Lender shall lake Ihe steps speCified in the second paragraph of
<br />puru~ruph 17.
<br />14. Notices. Any nOlice 10 Borrower provided for ill this Securit) In!Jtrumenl !'!hall be given by delivering it or by
<br />mailing II by finil class mail unless applicable law requires use of anolher melhod. The notice shull be direcled to lhe
<br />IImperl)' Address or any other addres~ Borrower designales by nOlice to lender. Any notice to lender shall be given by
<br />fl",t da!!!'! mail to Lender's address staled herein or any olher uddn.-ss lender designates by natke to Borrower, Any nolice
<br />proVided for in this Security I nstrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />III I IllS plJ.ragraph.
<br />IS, Governing LBWj Severability. This Security Instrumenl shall be governed by fedemllaw and the law of the
<br />Juri~diction in which the Properly is located, In Ihe event thai any provision or clause of this Security Instrumenl or Ihe
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrumenl or Ihe Note
<br />which can be given effect wilhour the conflicting provision. To this elld rhe provisions ofthi!. Security Instrumenl and the
<br />Note are declared 10 be severable.
<br />16. Borrower.s Copy. Borrower shall be given one conformed copy of the Narc and of this Securily Insrrument.
<br />17. Transrer or the Property or B Beneficial Interest in Borrower. If all or uny part of the Properly or any
<br />mlerest in it is sold or transferred (or if a beneficial interest in Borrower is sold or Iramferrcd and Borrower is nol a natural
<br />person) withoul Lender.s prior written consent. Lender may, at its option, require immt.'C1iatc puyment in full oC all sums
<br />secured by this Security lnstrumenl, However, Ihis oplion shall not be excl dscd by Lender if cxef(:i,c i!'! prohibiled by
<br />federnllaw as of the date of this Security Instrument.
<br />If lender exercises this oPlion, Lender shall give Borrower nollce of acceleration. Tllc I1lll icc ~hall pnn idc a p~rilllj
<br />of nOlless than 30 days from the dale the notice is delivered or mailed within which Borrower mU!'!1 pay all ~um.. !lccured by
<br />this Security Instrument. If Borrower fails 10 pay these sums prior to the expiralion oCthi.. period, Lender mllY in\okc :111)
<br />remedies permilted by this 5<:curity Instrument without further notice or demand 011 Bornlwer,
<br />18. Borrower's Right to Reinstate. If Borrower ml.."Cls certain L:ondilion.'t, Uorrower '}HllI han~ Ihe nght In hme
<br />enforcement ofthi!l Security Inslrumenl discontinued at any time prior tu the carlier of: (a) 5 day.. (or ...uch nther perioll a..
<br />applicable Jaw may ~pccif)' for f1:in~tatement) before sllle oCthe Property pur!'ouanllo any powl'r llr~alc (OlllalllCd III I Ill..
<br />SecurilY Instrumellt, or (b) entry of a judgment enforcing Ihis Securily Ill!ltrulT1l'nl Thll!'!e clmllilHlI1!'! arc Ihul Illlrfl'"l''r
<br />(a, pays lender all !lum.,. which Ihen would be due under this St'Curny In!ltrUfTlCnl and the Note had 1111 i1L:l:dnatlllll
<br />occurred; (b) cure!! an)' default of any other eO\'cuanl.. or agreements, (c) pay, all e"rcn..e.. 1I11:urred III \.'nrllrl,:lIIg 11m
<br />Sccuril)' Im~lrumenl, Including, hut nlll limited to, reasonable altorney..' fee..; and (d) laJ..t.... "Udl UL:Illlll iI.. I t.'nder IWl}
<br />rea!lonabl)" rcqulre tn u~"urc thai the hen of thi.. Securir)' Instrumenr, Lender'" nitht.. ltl IIIL' Prnp\'rl~ ,lIld BlIrrll\h'r...
<br />nbhgalloTl In pa) the "urn!!. ..c:curcu h} Ihl'S Securily In..trumenl ..hall L:.lnllOue utlchungt.'d L'I'I1IJ fl.lIl..tall'lIIl'lll h"
<br />llonn""C'r, Ihl'! Senlflt) In'llrumenl und Ihe ohhgallon, \ccurcd herdl) ..hall remalll fully dTl'I.."tl\\';!'- II nil .IU \'1\'1";11 h l/l h.ld
<br />''ll urred Hm..c\cr, rhl\ nghlln rCllhtatc \hlll1 nut :Jppl) In thc caloe llf ;Il.:l.'c1cratllll1 Ul1dl'f r.tr.1~1 ;tph.. 11'11 1 ~
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