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<br />88- 106442
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<br />If Lender required morlgage insurance as a condition of makin~ the loan secured hy this Security Instrument,
<br />Borrower shall pay the premiums required 10 maintain the insurance in effect until such lime as the requirement for the
<br />insurance lenninates 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 PrC'perty. Lender
<br />shall give Borrower notice at [he time afor prior 10 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 />any condemnation or other laking of any part of the Property, or for conv.:yance in lil."u of condemnation. are hereby
<br />assigned and shaJl be paid to Lender,
<br />In the event of a totnl taking of the Property. the proceeds shall be applied to the sums secured by this S~urity
<br />Instrument, whether or not then due, with any excess paid to Borrower, In the event of a partial taking of the Property.
<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 frnctior.: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance 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 />I lake an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the dare the notice is
<br />given, Lender is authorized to collecr and apply the proceeds. at ils option. either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not Ihen due,
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />posLpone the due date of the montbly payments referred 10 In paragraphs 1 and 2 or cbange the amount of such payments,
<br />10. Borrower Not Released; Forbearance By Lender Sot a Waiver. Extension of the time for payment or
<br />modification of amonization of tbe sums secured by this Security Instrument gramed by Lender to any successor in
<br />interest of Borrower shall not operate to release tbe Iiabilily of:obe original Borrower or Borrower's successors in interest.
<br />lender shall not be required 10 commence proceedings again~1 any successor in interest or refuse 10 extend time for
<br />paymenl or otherwise modify amonization of the sums secured by thts Security Instrument by reason of an}' demand mnde
<br />by tbe original Borrower or Borrower.s successors in interest. Any forbearance by lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right nr remedy,
<br />11, Successors and Assigns Bound; Joint and Several LiabiJity; Co-signers. The cO\!enants and agreements of
<br />this Security Instrument sbaH bind and benefit the successors and as.signs o[Lender and Borrower, subjecl to the provisions
<br />of paragraph 17. Borrower's covenanl!-o and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) IS co-signing rhis Security Instrument only to mortgage. grant and convey
<br />Ihat Borrower's interest in tbe Propeny under Ihe terms oftbis Security Instrument; (b) is not pef50nally obligated to pay
<br />the sums secured b} this Secunly Instrument; and (e) agrees tbat lender and any otber Borrower may agree to extend,
<br />modify. forbear or make any accommodattons "'lIh regard In the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Securil)o' In!o.trument is subject 10 a law which sets maximum loan
<br />charges, and that law is finally interpn:lcd so that the interest or other loan charges collected or to be collecled in
<br />connection with the loan exceed the permitted limits. rhen: (a) any such loan cbarge ...hall be reduced by the amounr
<br />necessary 10 reduce the charge to the permitted limit: and (b) any sums already collected from Borrower which e.,cecded
<br />permitted Iimils will be refunded 10 Borrm\o'er, Lender may choose 10 make this refund by rl-ducing Ihe principal o\l,'ed
<br />under the Note or by making a direct payment to Borrower. If a refund reduc~ principal, the reduction will be treated as a
<br />partial prepayment without any rrepayment charge under the Note,
<br />13. Legislation Affecting Lender's Rights, If enuclment or expiralion of applicahle jaws has the effecl of
<br />rendering any provision of the Note or tbis Secunty Instrument unenforceable accordmg 10 Its terms, Lender. at its option,
<br />may require immediate payment in full of all sums secured by Ihis Security Instrument and may invoke any n:medies
<br />permitted by paragraph 19, If Lender cxercisL"S this oplioo, Lender shall take Ihe step!! specified in lhe second paragraph of
<br />paragraph 17,
<br />14. Notices, Any notice to Borro.....er provided for In tlll:-' Secunty Instrument shall be given by delivering it or hy
<br />mailing it by first class mail unless applicable law reqUires u:-.e of anoLher method, The notice shall be duected 10 (be
<br />Property Address or any olher address Borrower designates hy noliL'e 10 Lender, Any notice to lender :-.hall he given by
<br />firsl class mail to Lender':-. address stated herein or any other addrcs!'i Lender designate., b~,. notice to Borrower, Any notice
<br />provided for In this Secunty Instrumenl shall he deemed to hu\'e hL"Cn glVClllO Bnrrower or lender wben gi\'en as pro\'idc..-d
<br />10 this paragraph,
<br />IS, Governing Law; Scverabilit'i. This Security In~lrumenl shall he gm'erned hy federal law and the law of the
<br />jurisdiction in which tbe Property i...locllted, In Ibe !:vent that lIn)' proVISIOn or c1au~e of thl~ Security Inslrument or tbe
<br />Nale conflicts with applicable Jaw, ~uch conniCI shall not affect olher provl~ion~ orthis SCL'urit)' II1~lrUment or lhe Note
<br />which can be given effect without the conflicting provision, To Ihis end the provisiom of Ih" Securily Instrument llnd the
<br />Nale are declared to be severable,
<br />16, Borrower's Copy. Borrower shall be given one conformed copy of the Nole and oftlll~ Security Inslrument
<br />17, Transfer or the Property or a Beneficial Interest in Borrower. If all or an)o. pari of the Prnperty or an)o'
<br />interest in it is ~old or transferred (or ifn beneficial interesL In Burrower is !lold or trunsfcrrcd and Borrower IS not a natural
<br />person) without lender's prior written COllsent. Lender may, at its opllon, require immediate payment in full of all \ums
<br />secured by thi~ Securi()' In!-otrumem, However. this option ~hall nOI be exerCised by Lender If exercise i~ proluhncd h)'
<br />federnllaw as of the date oflhi!-o Security Instrument.
<br />If Lender eXerci~cs this oPlion, Lender sball give Borrower notice of accelerulion, The notice shall provide a period
<br />ufnolless tbun JOdays from (he dute the nollce i!-o delivered or mailed within which Borrower must pay all sum!-o secured hy
<br />Ihis Security Instrument. If Borrower fails In pay these sums prior to the expiration of this period, Lemler mu) llI\.uke .my
<br />remedies permitted by chis Security Instrument withoUL further notice or demund on Borrower,
<br />18. Borrower's Right to Reinstate, If Borrower meets certam wndittons, Borrower shall have thc" ngh: to have
<br />enforcement oflhls Security Instrument dlsconlinued al any lime prior Iu the earlier of: (a) 5 day.. (or such uther penutl as
<br />applicable law may 'ipecify for reinstatement) hefon: sale of the Propeny pur!-ouanl to !lilY power of ...ale nllltilllled ITI this
<br />Security InMrumcnt; or (b) entry of II Judgmenl enforcing IhlS Security Instrument Thmc cnndtllllll'" ure thut Borrl1\\'l'r
<br />(n) pay~ Lender all sums whicb tben would be due under Ihis Securily In..trumCIlI and the NUle hud no llL'I.'dentllllO
<br />occurred; (b) cures any default of uny other covenants or agreemenh. (1:) pay... alll'xpense~ lllt'urred III enforL'lIlg Ihl'"
<br />Securily Imlrument, including, hUI nnl limited In, reasonable ullorney.... fee..., ilnd (l!llllkes ~udl llCllon us h.nder IIIU)
<br />reasonahly require to as!lourc: that Ihe hen of IhlS Security Instrument. Letlder'~ rtghl!-o UI Ihe l)ropcrT) and Ullrrn"l"r'~
<br />obligation to pay lhe "'um, ...el'ured oy thiS SecUrTlY 1000lrumenl ..hull l'llnllrlUt' UlIL"hall1!l'd t~I'(ln rt'III~lall"II1t'1I1 h\
<br />Borruwer. thl" Sel'ufllY In..lrunil:nl ilnd the ohllgatlon... -;ecuroo hcreo~' ...hllll rt'fTlalll fllll~ dfn'llH' <1\ If III 1 .1\ l't'll-I.tlltlll had
<br />o,,:cuffcd Hl.l\\l-"C'r,lhl" fight 1n reln\llIl\,.' ...hall nfll apply 111 I Ill' l'a..t' oflll:t'eh,.r.lllnn urlllt'r flara~rarh\ 11"1 1 ~
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