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<br />88- -;105702
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<br />If lender required mortgage lnsurllnce as Il condition of making the lonn secured by this Sccunty Instrument,
<br />Borrower !'ahall pay Ilu: premiums required 10 maintain the insurance in elTect until such time as the requirement for the
<br />insurance lerminnles in uCl"ordance with Borrower's nnd Lender's wriuen agreement or applicable law,
<br />8. Inspection. Lender or its ogent may make reasonable entries upon nnd inspections of the Property. Lender
<br />shall give Borrower nolice at the lime afar prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />Bny condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />BS!'igned Bud shall be pllid to L~nder.
<br />In the event of a lotaItaking of the Property, the procLocds shall be applied to the sums secured by this Security
<br />Instrument, whether or nOI then due. with any excess paid to Borrower, In the event of a partial taking of the ProperlY,
<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 proct:eds multiplied by the following fraction: (a) the total amount of the sum!i secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before tht' taking. Any halance 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 settle a claim for damages, Borrower fails 10 respond to Lender within 30 days after the date the notice is
<br />given, Lender i~ 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 otherwise agree in writing, any application of proceeds 10 principal shull not extend or
<br />postpone the due dale of Ihe 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 Waiver. Extension of the lime for payment or
<br />modificalton of amortizalion of the !iums secured by this Security Ins1rument granted by Lender to any successor in
<br />interest of Borrower ~hall nol operate to release the liabilily of the original Borrower or Borrower's successors in interest.
<br />lender shall nol be required to commence proceedings against any successor in interest or refuse to extend time for
<br />pa)'menl or olherwise modify umortization of the sums secured by [his Security Instrument by reason of any dt:mllnd made
<br />by the original Borrower or Borrower's successors in inlerest. 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 Boundj Joint and Several Liability; Co-signers, The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of lender and Borrower, subjeclto the provisions
<br />of paragraph 17. Borrower'!i covenants and agreements shall be joint and several. Any Borrower who co-signs Ihis Security
<br />Inslrumenl but does not execute the Note: (a) is co-signing this Securily 1nstrument only lo mortgage, grant and convey
<br />1hal Borrower's mterest in the Property under the terms of this Security Instrument: (b) is not personally obligated to pay
<br />the sums ~ecured by thilt Security Instrument; and (c) aglces that Lender and any other Borrower may agree 10 extend,
<br />modify. forbear or make any accommodations with regard to the terms of thilt Security Instrument or the Note without
<br />that Borrower'!. consent.
<br />12. Loan Charges. If the loan ~ecured by this Securily Instrument lS subjecl to a law which sets maximum loan
<br />charges, and thai law is finally interpreled so that the interest or other loan charges collected or to be collected in
<br />connection with the loan ex.ceed the permitted limits. then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to Ihe permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lendcr may choose to make thili refund hy reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note
<br />13. Le~islBtiun Affecting Lender's Rh~,hts. If enactment or ex.plration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security lnstrument unenforct:'..1hlc a~~ording 10 lis terms, Lender. at its option,
<br />may require: immediate payment in full of all !'>um!. !.ccured hy thl.. SCl'unty II1!.trument and may invoke any remedies
<br />permitted by paragraph 19. If Lcnder exercises thls option, l.ender !.hall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Bornlwer prOVided for IlIlhl~ SecuTlt) In~lrument !.hall be given by delivering it or by
<br />mailing it by fiI3t class mail unles!. apphcable law reqUIre!. u~e of another method. Thc notice !.hall be directed I(l the
<br />Property Addre~s or any other address Borrower deslgnatc~ hy nolla:e to lenuer. An)' notice to lender shall be given by
<br />first class muil to lender's addres~ !lotated herein or any ot her uddre!.!'> Lender deliignate~ by nollce to Borrower. Any notice
<br />provided for in this SecurllY Inslrument shall be deemed tn havl! heen gl\'enlU Borrower or Lender when givcn as provided
<br />in thi!i paragraph,
<br />15. Gu~erning Law; Severability. Thi~ SecuTlty InMrument shall be governed hy fcderullaw and the law of [he
<br />jurisdiction in which the Property is located. In Ihe event thaI any proVision or clause of thi~ Security Instrument or the
<br />Nole conflicts with applicable law. such conflict shall nol affect other provisions of Ihis Security Instrument or lhe Note
<br />which can be given effect without the conOictmg pruvislon. To thiS end the provisions of this Security Instrument and thc
<br />Note arc: declared to be severable.
<br />16. Borrower's Copy, Borrower ..hall he: given (lIIe confornwi copy of the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Ueneficial Interest in Borrower. If all or any part of the Property or allY
<br />mterot in it is sold or transferred (m If a beneflcl/II mtc:rC'i11Tl Borrower is ~old or transferred and Borrower is not a naruml
<br />pe~on) without lender's prior wnUen consent, Lender may, al J[S option, require Immediate payment in full uf all sums
<br />secured by this Security Instrument. However, thl!'> uptUlII !.hall not be c)\'cl'cised by lender if exercise is prohibited by
<br />federal law as oflhe datcofthis Secunt) In~trument
<br />If lender exercises this option, Lender !'ihall give Burrower notice of acceleration. The notice shull provide a period
<br />of no I less than 30 days from the date the notice I!. delivered ur mailed within which Bnrrower must pay all sums ~eeured by
<br />thl!) Security instrument. if Borrower fails to pay these !.um!. pTlnr In Ihe expiration ofthl!. periud, Lender ml.lY U1\'nke ,my
<br />remedies pennitted by this Sccumy Instrumenf wtthout funher nutlceo!" demand on Bmmwer.
<br />18. Borrower's Rip1 to Reinstate. If Borrower meels certain conditlllll~, Borrower !.hull ha'-'t: the nght tll ha..e
<br />enforcement of this Security Instrument discuntUlucd at any time pnur In the carlier of: (Ii) 5 days (01" sm:h other period a~
<br />apphcable law may ~pecify for reinstatement) before !tale of the Property pur,uanl (0 any power of ..ale l:ontulIlcd 111 11m
<br />Security In~trument: or (b) entry of a Judgmenl cnforcing Ihi!t Security Instrument Those comhtllll\s arc that UOTfnwcr
<br />(a) pay!t. Lender all !loum, which then would be due under this Security Instrument and the Note had 110 rlcl:dcratillll
<br />occurred, fh) cur~ an)' defnul1 of any other cuvenunls or agreement!.: (c) pa)'~ all ei\pel1!.e" lflcurn:d in enfnrl'llI~ thl"
<br />Securlly In!lotrumcnt, mcludmg, but not ilmltei..llo, rea.'oOnublc l.1uornc)'s' fct.os; and (d) take.. "UdllKlltHl a~ Lentier om)
<br />rea~n3bh' requare In llS.!loure thaI the hen of tll1!lo Sccunty Instrument, Lcndcr'.. ngh1!'> JTl Ihe t'rllpl.'r1) ..'flU linn""!;"I'..
<br />ohhgallon 10 pay l1u: ..U1m, ..ecurcd b)' tIll!. Securll)' In!tlrumenl shall L"unlmuc UnChilt1~eU l'polI rCIII..talcnll.'lIl 11\
<br />Rorruw.c::r. thl" 5ecufll)' In..lrument and rhe ubhgllllOn~ !'cl;ured hercb)' ,hall n:mam full} elfl.."1:II\I.' a.. If lHI.\.. r'k,alhlll had
<br />nn'urred Hll\lic::"c::r, thl!\ nghttn n:m"tale ..hall 1101 (J,pply m thc:: CU!)C of al.'CclCflIllI)fl unuer par"~'aph, I \ "1 \-
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