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<br />88- 105597
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<br />If Lender required monsase insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required 10 maintain the insurance in effect until such time as the requirement for the
<br />insurance tenninates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />I. hlpecdon. Lender or it. agent may malte reasonable entries upon and inspeclions of the Propeny, Lender
<br />shall give Borrowernotlce at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. CoDdeumatlon. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any 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 10 Lender,
<br />In the event of a total laking of the Propeny. the proceeds shall be applied to the sums secured by lhi, Security
<br />Insln1ment. whcther or not then due, with any e.cess paid to Borrower, In the event of a panialtaking of the Propeny,
<br />unless Bonower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />lhe ammmt of the proceeds mulliplied by lhe following fraclion: (a) lhe lotal amount of the sums secured immr:dialely
<br />before the taking, divided by (b) the fair market value oflhe Propeny immediately before the taking, Any balance shall be
<br />paid to Borrower,
<br />If the Propeny is abandoned by Borrower. or if, .rler notice by Lender 10 Borrower that the condemnor offers tu
<br />malte an aWBld or settle a claim for damages. Borrower fails to respond to Lender within 30 days after lhe date the notice is
<br />giytn. Lender is authorized to collect and apply the proceeds. at its option. either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower OIherwise agree in writing, any application of proceeds to principal shall not extend or
<br />poslpone tho due dale of lhe monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments,
<br />10, Bonower Not Releued; Forbearance By Leud.r Not a Waiy.r. 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 Borrowerts 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 successon in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall nol be a waiver of or preclude the exercise of any right or remedy,
<br />11. Sacceaon..... .....11lDI Bouad; JoliltlDd Snenll Liability; Co-slllDers. The covenants and agreements of
<br />tbis Securily Instrument shall bind and benefil the SUCC<5S0rs and assigns of Lender and Borrower, subject to the provisinns
<br />of paragrapb 17. Borrower's covenants and agreements shall be jOlnt and several. Any Borrower wbo co-signs this Security
<br />Instrument but does nol execute the Note: (8) is co--signing this Security Instrument only to mongagc, grant and convey
<br />lhat Borrower's interesl in the Property under lhe lenns of this SecurilY Inslrumenl; (b) is nol 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 />thaI Borrower's consent.
<br />12. Loaa Charaes. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges. and that law is finally inlerpmcd so lhal the inlerest or olher loan charges collecled or to be collecled in
<br />connection wilh the loan exceed lhe permitted limits. then: (a) any such loan charge shall be reduced by the amount
<br />necessuy to reduce the charge to the permilled limit; and (b) any sums already collected from Borrower which e.ceeded
<br />permilled limits will be refunded to Borrower, Lender may choose 10 malte this refund by reducing the principal owed
<br />under the NOle or by malting a direct paymenllo Borrower. If a refund reduces principal, the reduction will be trealed as a
<br />paniaI prepayment without any prepayment charge under the Note,
<br />13. Lealalatlon AlrectiD& Leuder', R1llbta, If enaclment or expiralion 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 fuJl of all sums secured by this Security Instrument and may invoke sny remedies
<br />permitted by paragraph 19, IfLeuder e.ercises this option. Lender shalllalte the steps specified in the second paragraph of
<br />paragraph 17,
<br />14. NotilCeS. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing il by first class mail unless applicable law requires use of another melhod, The nolice shall be directed to the
<br />Property Address or any other address Borrower designa... by notice to Lender, Any notice 10 Lender shall be given by
<br />fint class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in Ihis Security Instrument shall be deemed to have been given to Bnrrower or Lender when given as provided
<br />in this paragraph,
<br />15. Goyerniq LaW; SeTerablllty, This Security Instrumenl shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given efl'ect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />NOle are declared 10 be severable.
<br />16. Borrower's Copy. &rrower shaU be given one confonned copy of the Note and of this Security Instrument.
<br />17, Traufer of lb. Property or a lleDeJleial Inl......11n Borrower. If all or any parl 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 not a natural
<br />penon) without Lender's prior written consen~ 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 CJ(ercise is prohibited by
<br />fcdcrallaw U oflhedate afthls 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 paly these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without funhcr notice or demand on Borrower.
<br />II. Bornnrer--. Riehl: to Reiatale. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security In5tJUment discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />spplicable law may specify for reinstatement) before sale of tbe Propeny pursuant to any power of sale contained in this
<br />Security Instrument; or (b) CIItry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under this Security Instrumen1 and the Notr had no acceleration
<br />occurred; (b) cures any default of any olher COVenants or agreements; (c) pays .n expenses Incurred ID enforCing thu.
<br />Security Irmrument. including, but not limited to, fClSOftlble attorneys' f~ and (d) takes such aCllon n Lender mal'
<br />rr:uonably rcqUiK to IlUUn: that the lien of this Security Instrument, Lender's nghu In the' Propcr1y and Borrower'li
<br />obIiption to pay the suml secured by thiS Security Instrument shall conllnue unchanged. Upon u:mslatemenl by
<br />BorrO"Wer, thIS Security Instrurnent and the obJiphons. ICCUred hereby shan remam futly clf'ec11~C a!t If no IccelerallOn had
<br />occum:d. However. ttln nlh1 to rems.Ule shall not apply m the cut' of a.cceleratlon under paragraph!. J 3 or 17
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