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<br />88-106217
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<br />If Lender required mongage insurance as a condition of making the loan secured by tbis Security Instrument,
<br />Borrower ~, y tbe '. ;!l;\IU~,to mainlBin tbe insurance in elTect until such time as tbe requirement for the
<br />insurance ~_~lj{80rrower's and Lender's written agreement or appUcable law.
<br />8. ( ~D't:,Iti;.i~t may make reasonable entries upon and inspections of tbe Propeny. Lender
<br />shall give IlQ e liDie' ofo'r prior to an inspection specifying reasonable cause for the inspection.
<br />9, Coademll8t1oo. The proceeds of any award or claim for damages, direct or consequential, in connection witb
<br />any condemnation or otber taking of any part of tbe Property, or for conveyance in lieu of condemnation, are bereby
<br />assigned and shall be paid to Lender.
<br />In the event of a tolallaking of tbe Propeny, tbe proceeds sbaIl be applied to tbe sums secured by tbis Security
<br />Instrument, wbether or not tben due, with any excess paid to Borrower. In tbe event of a partial hiking of the Property,
<br />unless Borrower and Lender otherwise agree in .writing, tbe sums secured by tbis Security Instrument shall be reduced by
<br />the amount of tbe proceeds multipUed by the following fraction: (a) tbe total amount of tbe sums secured immediately
<br />before !be taking, divided by (b) the fair market value nftbe Propeny immediately before the laking. Any balance shall be
<br />paid to Borrower.
<br />Iftb. Propeny is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor olTers to
<br />make an aWlll'll or settle a claim for damages, Borrower fails to respond to Lender witbin 30 days after tbe date the notice is
<br />given, Lender is authorized to collect and apply tbe proceeds, at its option. eitber to restoration or repair ortbe Propeny or
<br />to toe sums secured by tbis Security Instrument, wbetber or nottben due.
<br />Unless Lender and Borrower otberwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of tbe mnntbly payments referred to in paragrapbs I and 2 or cbange tbe amount of sucb payments.
<br />10. Borrower Not Releued; Forbearance By Leader Not a Waiver. Extension of the time for payment or
<br />modification of amortization of tbe sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not ope1'2te to release the liability oftbe original Borrower or Borrower's successo'" in interest.
<br />Lender sball nnt be required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amonization ortbe sums secured by tbis Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successo", in interest. An)- 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 />II. S_ aDd AulIPD BowId; Jolat IDd Senral Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit tbe successors and assigns of Lender and Borrower, subject to tbe provisions
<br />of p8I'lI8fIopb 17. Borrower's covenants and agreements shall bejoint and several. Any Borrower wbo co-signs tbis Security
<br />Instrument but does not execute tbe Note: (a) is co-signing tbis Security Instrument only to mongage, grant and convey
<br />that Borrower's interest in tbe Propeny under tbe tenDS oftbis Security Instrument, (b) is not personally obUgated to pay
<br />the sums secured by this Security Instrument; and (Ii) agrees tbat Lender and any otber Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to tbe terms of tbis Security Instrument or tbe Note witbout
<br />that Borrower's consent.
<br />12. Lou Qarsa, Iftbe loan secured by this Security Instrument is subject to a Jaw which sets nwtimum loan
<br />cbarges, and that Jaw is ftnally interpreted so tbat tbe interest or other loan charges collected or to be collected in
<br />connection with the loan exceed tbe permitted Umits, tben: (a) any sucb loan charge sball be redueed by tbe amount
<br />necessary to reduce the charge to tbe permitted limit; and (b) any sums already collected from Borrower wbicb exceeded
<br />permitted limits will be refunded to Borrower. Lender may cboose to make tbis refund by reducing tbe principal owed
<br />under tbe Note or by making a direct payment to Borrower. If a refund reduces principal, tbe reduction will be treated as a
<br />paniaI prepayment witbout any prepayment charge under tbe Note.
<br />13. Le;laJatiOIl Alrect1aa Lender'a RIghts. If erw:tment or expiration of applicable laws bas the effect of
<br />rendering any provision oftbe Note or this Security Instrument unenforceable 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 p8I'lI8fIopb 19. If Lender exercises tbis option, Lender sball take tbe steps specifted in tbe second paragrapb of
<br />paragrapb 17.
<br />14. Notl.... Any notice to Borrower provided for in this Security Instrument sball be given by delivering it or by
<br />mailing it by llrst class mail unless applicable law requires use of another metbod. The notice sball be directed to the
<br />Property Address or any otber address Borrower designates by notice to Lender. Any notice to Lender sball be given by
<br />ftrst class mail 10 Lender's address stated berein 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 wben given as provided
<br />in this paragraph.
<br />15. GowraIaa laW; SnerabWty. This Security Instrument shall be governed by federal law and the law oftbe
<br />jurisdiction in wbicb the Property is located. In tbe event that any provision or clause of this Security Instrument or the
<br />Note coo1Iicts with applicable Jaw, sucb conllict sball not a1fect otber provisions of this Security Instrument or tbe Note
<br />wbicb can be given elIect witbout the confticting provision. To this end tbe provisions of this Security Instrument and the
<br />Notearedec1ared to be severable.
<br />16. Bomnrer'a Copy. Borrowersball be given one conformed copy of the Note and ofthis Security Instrument.
<br />17. TrIDafer of the Property or a BeaeftdaI Interest In Borrower. If all or any pan of Ihe Propeny or any
<br />interest in it is sold or transferred (or ifa beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />persoo)witbout Lender's prior written consent, Lender maY, at its oplion, require immediate payment in rull of all sums
<br />secured by this Security Instrument. However, tbis option sbaII not be exercised by Lender if exercise Is probibited by
<br />federal Jaw as of the date of this Security Instrument.
<br />IrLender exercises this option. Lender shall give Borrower notice of acceIeration. The notice shall provide a period
<br />of not less than 30 days from tbe date tbe notice is delivered or mailed witbin wbicb Borrower must pay all.ums secured by
<br />tbis Security Instrument. If Borrower fails to pay tbese sums prior to tbe expiration of this period, Lender may invoke any
<br />remedies permitted by tbis Security Instrument witbout further notice or demand on Borrower_
<br />IL 1IclrrtnNr's RlPt to ReIaDte. If Borrower meets certain conditions, Borrower shall bave the right to have
<br />enfon:ement oftbis Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or sucb other period as
<br />applicable Jaw may specify for reinstatement) before sale of tbe Propeny pu",uant to any power of sale conlBined in this
<br />Security Instrument, or (b) entry of a judlllDent enforcing tbis Security Instrumenl. Those conditions are that Borrower:
<br />(a) pa18 Lender all sums whicb then would be due under this Security Ins.rumen. and the Note had no acc:eIeration
<br />. occurred; (b) cures any default of any otber covenants or qreements; (r.) pays all e.paIses incurred in enforcing this
<br />Security Instrument, includintl, but not limited to, reasonable attorneys' fees, and (d) takes such action as Lender may
<br />reaoubIy require to Ulure that the lien of tbis Security Instrument, Lender's rights in the Propeny and Borrower's
<br />ob1iption to pay tbe sums secured by tbis Security Instrument shan continue unchansed. Upon reinstatement by
<br />Borrower, tbis Security Instrument and the obllptions secured bereby .ban remain fully elfective,s ifoo acce1eration had
<br />oceurred. However, this riptto reinstate shall not apply In the case of acceleration under parasraphs 13 or 17.
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