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<br />88-105755
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<br />If Lender required mortgage 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 terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the lime of or 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 />nnJ.' 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 toraltaking of the Property. the proceeds shall be applied to Ihe sums secured by this Security
<br />Instf'.lment, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unJess 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 total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately hefon: the taking, Any balance shall be
<br />paid to Borrower.
<br />[f Ihe Propeny 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 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 to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or chllnge the amount of such payments,
<br />10. Borrower Not Released; Forbearance By Lender Not B Waiver. Extcllsion of the time for payment or
<br />modification of amonization of the sums secured hy this Sccurity Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the origir.al Borrower or Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any succes.....or in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by Ihis Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interesl. 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 Bound; Joint and Several Liability; Co-signers, The covenants and agreemenls of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is CD-signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's intere:it in the Property under the tenns of this Security Instrument; (b) is nol personally obligated to pay
<br />the sums secured by this Security Instrument; and (cl agrees that Lender and any other Borrower may ugree to eXlend,
<br />modify, forbear or make any accommodations with regard to the term': of this Security Instrument or the Nole without
<br />that Borrower's consenl.
<br />12. Loan Charges. Jf the 10lln M:cured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally intcrpreled so that the interest or other loan chargcs collected or to be collected in
<br />connection with the loan eAceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted Umit: and (b) any sums alrcady collected from Borrower which exceeded
<br />permitted limits will be rerunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the NOle or by making a direct payment to Borrower, Ira refund reduces principal, the reduclion will be treated as n
<br />panial prepayment wit haUl any prepayment chllrge under the Note,
<br />13. Legislation Affecting Lender's Rights. If enaclment or cApiration of applicable laws has the effect of
<br />rendering any provision of the Note or thi!> Security Instrument unenforceable according to it!i terms. Lender. at its option,
<br />may require immedia'iC payment in full of all sums secured by this Security Instrument and may invoke Bny remedies
<br />permitted by parllgraph I Q. If Lender exercises this option, Lender shall take the steps specified in the second parugruph of
<br />paragraph 17,
<br />14. Notices. Any notice 10 Borrower provided for in thi!. SecurilY Instrument shall be given by delivering il or by
<br />mailing it by firs1 class mail unles!> applicable law requires us~ of Ilnother method, The notice shall be directed to the
<br />Propeny Address or any other address Borrower designates by notice to Lender, Any notice to Lender shall be given by
<br />first class mail to Lender's addres.., stated herein or any olher address Lender designates by nolice to Borrower. Any notice
<br />provided for in lhis Security Instrument shall be deemed to have been given to Borrower or lender when given as provided
<br />in Ihis paragraph.
<br />IS. Governing Law; Severability. This Securit)' Instrumenl shall be gO\lerned 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 Inslrumenl or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument 01 the Nole
<br />which can be given effect without the conflicting proVision, To this end the provisions of this SecurilY Instrumcnl and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shaH be given one conformro copy of the Nole 3nd of this SecuTlly Instrument.
<br />17, Transfer of the Property or a Beneficial Interest in Borrower. If all or any purt of thc Property or uny
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is ~uld or transferred and Borrower is not a namra!
<br />penton) withoul lender's prior written consent, Lender may. al its option, require immediate payment in full of all ~ums
<br />secured by [his Security Instrument. However. this option shall not be exercised by lender if excrci~e i!'. prohibited by
<br />federal law as oflhe date of this Security Instrument,
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. Thc notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower TnU<;1 pay all !turns secured b~
<br />thiS Security Instrument. [fBorrower fails to pay these sums prior to the e.llpiratlon oflhl!> perlud. Lender may Invoke an~
<br />remedies permiued by Ihis Security Instrument without further notice or demand on Borrower.
<br />18, Borrower's Righllo Reinstate. If Borrower meets certain condilions, Borrower !>hall have lhe nght to have
<br />enforcement oflhis Security Instrument discontinued at any time prior (0 Ihe earlier of: (1.1) 5 ua}'!t (m ..ut:h olher petlod u!>
<br />applicable law may specify for reinstatement) before sale of the Property pursuanl 10 an)' power of !talc ....11II1i.UneOlll 11m
<br />Sc:curity Instrumenl; or Cb) entry of a judgmenl enforcing Ihis Securily lnst rumen I , Tho..e CIUllilIIOIl!'t arc thai Burrower
<br />(D) pay!\. Lender all sums which then would be due under this Security In",rument and the Nolc had I1Il ,u:ccleTalinn
<br />occurred; (h) curo Iln~ default of any other covenants or agreements: (el paY!t all cxpenSl."!t Incurred 111 enfnfl'U1~ 1111'
<br />Securny Instrument, Includmg. but not limiled to, reasonable auorneys' fee!'; and ld) lakc.."!t 'u....h <.lr..'tU)IJ ii!t l.ender ma)
<br />reasonably require to as.sure that the lien of this Security Instrumenl. lender'!,> rlghl!> 111 Ihe Prupt'rly ano I1nrruwcr'..
<br />obhgauon 10 pa)' the !!turns !l.ecurcd by lhi!l Security Instrument shull ....ontlnue unl.."hanlted Upnn n'IIl!tlalclllelll h~
<br />Uorrn,..c:r. Ihl.. Sa:unly In~trument and lhe obligations secured hereby ..haU remam full) c:iTecll\e a.. 11' II\I;Jccdt'llIIUIIl hm.l
<br />(k:-(.'urrcd .tllwc....er.llu'Jt nghlto relOstate shall not apply In theca~ uflt....cdcrallllTl under par.al!r.aph.. 11.11 1"
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