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<br />88- ]105829
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<br />If Lender required mongnge i"sumore.as n condition of making the loan secured by Ihis Security Instrument.
<br />Borrower shull 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 wrillen 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 allhe time of or prior to an inspection specifying rca...onllble cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of any paft of the Property, or for conveyance in lieu of condemnation, are hereby
<br />as!'igned and shall be paid 10 Lender.
<br />]n the event of 3 total taking of the Property, the proceeds shaH be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any ,excess paid to Borrower. In the event of a p:utial taking of the Propeny,
<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 proceeds multiplied by the following fraction: (a) the 10tal amount of the sums secured immediately
<br />before the taking, divided by (b) lhe fair market \alue of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Propeny is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle n claim for damnges. Borrower faBs to respond to l.ender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, al its option, either to restoration or repair of Ihe Property or
<br />to tlte sums secured b}' this Security Instrument, whelher or not then due.
<br />Unless Lender and Borrower othernise agree in writing, any application of proceeds to principal shall nOl exlend or
<br />postpone tlte due date of the 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. Er.tension of the time for payment or
<br />modification of amortization of the sums secured b}' 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 Borrower's successors in interest.
<br />Lender shall not be required to commence proceedings against any successor in interest or refuse to extend lime for
<br />payment or otherwise: modify amortization oflhe sums secured by this Securil)' Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any ri~ht or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />H. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenanb and agreements of
<br />this Security Instrument shall bind and benefilthe successors and assigns of Lender and Borrower, subject to the provisions
<br />ofparngraph 17. Borrower's covenants and agreements shall bejoint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Nole: (a) is co-signing this Security Ins1rument only to mortgage, grant and convey
<br />that Borrower's interest in the Propeny under Ihe tenns Oflhis Security Instrument; (b) is not personally obligated 10 pay
<br />the sums secured by this Security [nstrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modif}', forbear or make any accommodations with regard to the lenns of this Security Instrument or the Note without
<br />Ihal Borrower's consent.
<br />12. Loan Charges. ]f the loan secured b}' this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so thaI Ihe interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary 10 reduce the charge to the pennitled limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower, Lender may choose to make this refund by 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 an}' prepayment charge under the Nole,
<br />13. Legislation Affecting Lender's Rights. If enactmenl or expiration of applicabJe laws has the effcct of
<br />rendering any provision of the Note or thi!! Security Instrument unenforceable according to its terms, Lender. nt its option,
<br />may require immediate payment in full of all sums secured by thi~ Security Instrument and may invoke any rcmedic!.
<br />permitted by paragraph 19. If Lender exercises this option, Lender shaUtake the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. An)-' notice to Borrower provided for in thi!o SecurilY Instrument shall be gi\'en by delivering il or by
<br />mailing il by first clas!. mail unless applicable law requires use of another melhod. The notice shall be directed to the
<br />Prapen}' Address or any other address Borrower designates by nOlice to Lender. Any notice 10 Lender shall be given by
<br />first class mail to Lender'!. address staled herein or any other address Lender designates. b}' notice to Borrower. Any notice
<br />provided for in lhi!>. Security Instrument shall be deemed to have been given 10 Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severabilit)'. This Security Instrument ~hall be governed by federalluw und the Inw of the
<br />jurisdiction in which the Propeny i!llocated. In the event that any prm'lsion or clause oflhis Security hlstrument or the
<br />Nole conflicts with applicable law, such conflict shall not affect other prO\'isions of th:s Securil}' Instrumenl or the Note
<br />which cnn be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be se\'erable.
<br />16, Borrower's Copy. Borrower shall be given one confonned copy oflhe Note and oflhis Security Instrument.
<br />17. Transfer of the Proper1Jo' or a Bene6cial Interest in &arrower, If aU or any pan of the Propen)' or any
<br />interest in it is ~old or tran~ferred (or if 11 beneficial interest in Borrower is sold or transferred and Borrower i!. not 11 naluml
<br />person) without Lender's prior writtcn consenl, Lender may. at its option. require immaiiate pnyment in full of all !'Ium!.
<br />secured by this Security Inslrument. However, thi!! option shall not be exercised by Lender if e"'erci~e i.. prohibill-d by
<br />federnllnw asorthe datc oflhi5 Sccurit)' Instrument.
<br />If under cll.erciso Ihi!lo option, Lender shall gh'c Borrower notice of acce1erdlion, The nlllicc ..hull pn1\'ldt';1 pCTlIld
<br />ofnOlI~!\. Ihan 30 day!'! from the date the notice is delivered or mailed within which Borrower mU!.1 PU)' all..um:-. "cl.:un:d h~
<br />this Security Instrument. If Borrower fails to pay thc.."Sc sums prior 10 tilt: expiration nfthi!'t period. Lendt'r mllY lTl\'okt, ;lt1~
<br />remedies pennined by this Security Inslrument wilhout fun her nolice or demand nn Borrower
<br />18. Borrower's Right 10 Reinstate. If Borrower meet!. l.:crtuin condition!., Borrower !.hall haw the TI~llI III IW\l'
<br />enforcement ofthi!! Securit)' Instrument discontinued at any time prior tIllhe carlier of: (II) 5 day.. (or "Udllllhcr pCTlOlI a..
<br />applicable law may specify for rein!tlutemenll before sale or tht" IJrnperty puro.,uant to any power of !'talc (IHlI;uIU't1 III 1111"
<br />SCC'UnI)' In!Otrument~ or (bl entry of a Judgment enforcmg Ihl!. Security Im,rumcnt. Tho..c l.:lllldllIOI\:-. art' IhOlI n(llr' '\\ er
<br />(a) PI1Y~ Lender all ..urn!! which Ihen would be due under Ihl" St:("urn~ In!tlrull1cnt and tht' "'Jolt' hall rll' al'ldel'Olll,'n
<br />occurred. (b) l.:ure!t any default of any ntht'r l..n~enanh or agn:emcnl.... (t.:1 pay.. all e\'lt"n~t,.' IIH.:urTt'd lfl t'lltPlllll~ till'
<br />Sccunl~ In..trumcnt. mcludm!;, tlUl ntlt Imllled Ill, rea!oonablc altornl.'"~'" k-r-., ~lI1d ldl tal..t,'" ~ulh .ll'r"ln .I~ I (.lllkr 111.1\
<br />rc-u"llnahl} require III u,..ure- thai ,he- hen (If tht!\. Secunt~ In!<.lrumclIt, J.t'ndt'r'.. n~tll.. III Illl' I'r"I,..rl\ ,111.1 U,'rl"I'u',
<br />(lhh~:Jllilll Itl pa~ lhl:" "urn.. ..c-a:ured t'ty IIii'. SCl;unl~ Instrumenl "half l'1I1l11ll1ll' lITh h.ll1,l!t.,1 [1'''11 ','lll..r.lll'l11\'111 h,
<br />Bnrrnv.t-r. lhE-. ~ccunt~ In"lrum~tll anJ Ihe nhltJ.:lllldll'. "C'l:urcd hC'rc:h~ ..hall rl'm;lIl1 fuih dl1" I, ,,' I' 'l 'I.' ,I> ,Ie' ,I"..n II.I,j
<br />'....( ulrcd I-I"\\c\c:r, tit... ni!.hlltl rctn-.lulc ,hall 1101 appl~ mlhe ta..e lIt .hl {'I..r,ll),'!! tllhkr 1'-l1.1~'l,lrh,
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