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<br />88_105561
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<br />If Lender required mortgage Insurance as a condition of making the loan secured by Ihis Security Instrument,
<br />Borrower shall pay the, premiums required to maintain the insurance in effect until 5uch time B5 the requirement for the
<br />insurance tenniJ!lltcs in acconlaDee with Borrower's and Lender', written agreemenl or applicable law,
<br />8. IlII!'tCtlCI:L Lender or itl agent may make reasonable enlries upon and inspeclion, of Ihe Property. Lender
<br />shall give Borrowe:' notice at the.lime of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. CoadeJautIon. The proceeds of any award or claim for damages. direct or consequential, in connection with
<br />any condemnation or other taking of Bny pari of the Property, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid 10 Lender,
<br />In the event of a lotallakiog of the Property, the proceeds shall be applied to Ihe ,urns secured by Ihi, Securily
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Propeny,
<br />unless Borrower and Lender otherwise agree in WJjting. the sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds mulliplied by the following fraClioo: (allhe toul amount of the sums secured immedialely
<br />before the taking, divided by (b) the fair market value ofthe Property immediately before lhe laking, Any balance ,han be
<br />paid 10 Borrower,
<br />rr 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 damages. Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the procc:cds, at its option, either (0 restoration or repair of the Property or
<br />to tbe 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 paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Releued; Forbearance By Lender Not. 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 shaD not operate 10 release Ihe liabili~y of the original Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings Ilgainsl any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by thi'i Security Instrument by reason of any demand made
<br />by tbe original Borrower or Borrower's successors in interest. Any forbearance by lender in exercising any rigbt or remedy
<br />shall not be a waiver Cifor preclude the exercise orany right or remedy.
<br />11, Saeeeaaora md AuI.... BoUDd; Joint and Se.eral Uablllly; Co-signers. The covcoants and agreemcots of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />orpangraph 17. Borrower's covenants and agreements shall be joint and scveral. Any Borrower who co-signs this Security
<br />Instrument but docs not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interesl in the Property under the tenns of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by tbis 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 tenns of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Lou Qaaraes. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and tbat law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connecliO!l wilh the loan exceed Ihe permitted limits, then: (a) aoy ,uch loan charge ,hall be redueed by Ihe amount
<br />necessary 10 reduce the charge 10 Ihe permitted limit; and (b) any .ums already collecled from Borrower which e.ceeded
<br />permitted limits will be refunded 10 Borrower, Leoder may choose 10 make this refund by reducing the priocipal owed
<br />under the Note or by making a direcl paymenllo Borrower, If orefund reduces principal, the reduclion will be trealed as a
<br />partiaJ prepaymenl withoulany prepaymeol charge under the NOle,
<br />13. Leaitlatioa Affecting Lender'. Rfpb. If enactment or expiration of applicable laws nlii :!;~ effect of
<br />rendering any provision of the Note or Ihis Security Instrument unenforcuble 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 paragraph 19, If Lender e.ercises this oplion, Lender .hall take the Slcps specified in Ihe second paragraph of
<br />paragrapb 17,
<br />14. Notic:ea. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires usc of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designales by notice to Lender, Any notice 10 Lender ,hall be given by
<br />first cia!! mail to Lender's address stated herein or any otber address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragrapb,
<br />15, GonmlaK LaW; Se.erabUity. This Security Instrument s~all be governed by federal Jaw aDd the Jaw of the
<br />jurisdiction in which the Property is located, In the evenl thaI any provision or clause of this Securily Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect olher provisions of this Security Instrument or tbe Note
<br />which can be given etrect without the conflicting provision. To Ihis end the provisions of this Security Instrument and the
<br />NOlearcdcclared to be severable.
<br />16, Borrower's Copy. Burrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17, Tranafer of the Property or a BeoeficIal Iolerest in Borrow.r, If all or any part of Ihe Property 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 />~n) wilhoot Leftder's prior written consent. under may, at its option. requirr: 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 />feclcnJlav. as oI'the 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 tbe notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this ~rity Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by thi! Security Instrument without further notice or demand on Borrower.
<br />II. Borrower's Rlahl to ReiJlltate. If Borrower meets certain conditions. Borrower shall have the right 10 have
<br />enforcement oflhis Security Instrument discontinued al any time prior to the earlier of: (a) S days (or such other period as
<br />aj'lpJic:able 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 judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pay' Lender all sums which Ihen would be due under this Security Instrument and the Note had no acceleration
<br />occurred; (b) cures any default of any other covenants or agreemenls; (c) pays all expenses Incurred in enforcing this
<br />Security Instrument. incJudin" but not limned to, reasonable attorneys' fees; and (d) takes such action a~ Lender may
<br />R':MOllIbIy require to &ssure that the hen of thi5 Security instrument, Lender's nghts In the ProperlY and Borrower's
<br />obliphon to pa) the suml secured Dy this Seeunt)' Instrument shall conllnue unchllnlled Upon relDstatemenl by
<br />Bor'I'ower. thli Secunty Instrumen. and the ablls_uons ICCUred hereby shan remam (ully eft'eclllo'e as Ifno IIccelerlluon had
<br />occurTCd. HowC'1Icr.thn "Iht to reinsllle "hall nOlapply In theca~ ofaccelerauon under (l.ragraph~ 1 J or 1'7
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