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<br />88- ~10652.1
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<br />If Lender required mortgage insurance as a condition uf making the loan secured by Ihis Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurnnce terminates in accordance with Borrower's and Lender's written agreement or applicable Jaw.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Propeny. lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award Of claim for damages. direct or consequential, in connection with
<br />any 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 to Lender.
<br />In the event of a tOlol taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instrument. whether or not then due. wilh any excess paid to Borrower. In the event of a partial laking of the Property.
<br />unless Borrower and Lender otherwise agree in wriling, the sums secured by this Security Inslrument shalJ be reduced by
<br />the amounl of the proceeds multiplied by the following fraClion: (3) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the ProperiY immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Propcrty 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 [0 Lender within 30 days after the date the notice is
<br />give.!, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Propeny 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 I and 2 or change the amount of such payments..
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by 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 interesL
<br />Lender shall not be required to commence proceedings againsl any successor in interest or refuse 10 extend time for
<br />payment or otherwise modify amonization of the sums secured by lhlS Security Instrumenl by reason of any demand made
<br />by the 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 or remedy.
<br />11. Successors ud Assigns Bound; 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, subject to the prmrisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borro\1;er who co-signs this Security
<br />Instrument bur does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Propeny under the terms of this Security Instrumenl; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees thai Lender and any other Borrower may agree 10 extend,
<br />modify, forbear or make any accommodations with regard to the teons of this Security ]nstrumenl or the Note withoUl
<br />that Borrower's consenL
<br />12. Loan Charges, If the loan secured by this Security Instrument is subject 10 a law which sets m:uimum loan
<br />charges, and that law is finally interpreted so that the interesl or other Joan charges collected or to be collccled m
<br />connection with the loan exceed the permitted HmilS, then: (a) any such loan charge shall be reduced by Ihe amounl
<br />necessary to reduce the charge to the penniued limit; and (b) any sums already collected from Borrower which acceded
<br />pennitted limits will be refunded to Borrower. Lender may choose to make Ihis refund by reducing (he principal ma.-o:t
<br />under the Note or by making a direct paymenl to Borrower. If a refund reduces principal, the reduction win be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable la\1lo"S has the effect of
<br />rendering any provision of the Note or this Security ]nstrument unenforceable according 10 its tenns. Lender, at its oplion.
<br />may require immediate payment in full of an sums secured by this Security Instrument and may invoke 311)' remedi~
<br />permitted by paragraph 19. If Lender exercises this oplion, Lender shall take the steps specified in the second p3rngraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security In~trument shall be: given by ddivenng it or by
<br />mailing it by first clas5 mail unless applicable law requires use of another melhod. The notice shall be directed (0 Ihe
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given b)'
<br />first class mail to Lender's address staled herein or any other address Lender designato by notice to Borrower. Any notice
<br />provided for in this Securily ]nstrument shalJ be deemed to have been given to Borrower or Lender whe'fl given a!o prOVided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and Ihe law of the
<br />jurisdiction in which the ProperlY is located. ]n the event that any provision or clause of Ihis Security Instrument or the
<br />Notc conflicls with applicable law, such conDiet shall not affecl other proviSIons of this Security Instrument or the Note
<br />which can be given effecl without the conflicling prOVision, To this end the provision!. of this Securit)' Instrumenl and the
<br />Note are declared to be severable.
<br />16. Borrower., Copy, Borrower shall be gi".en one confonned copy of the Note and of tlus Security In!>trumen1.
<br />11. Transfer of tbe Property or I Beneficial Interest In Borrower, If all or any part of the Property ur any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower i!<t nnl a natural
<br />person) without Lender's prior writlen consent, Lender mny. at its option, require immc..'1hllte payment in full of nil !turn!!.
<br />secured by thas Security Instrument. However, Ihis option shall not be cJlc=rcised by Lendcr if cJlc=rcise i!<t prohlbued by
<br />federal law as of the date of this Security Instrument.
<br />If Lender eJIercises this option, Lender shall Give Borrower noUce of lIcceJcration. The: notice shal~ prOVide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower muM pay lIll !'um!l. secured by
<br />this Securily Instrument. If Borrower foils to pay these sums prior to Ihe expinuion of Ihi!t period, Lender may lD\loke any
<br />remedies penniued by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate, If Borrower meet!. certain condillOn!t, Borrower !>hall have the nght to ha\{c
<br />enforcement of this Security Instrument di!>continued al any time prior 10 the earlier of: (a) 5 da)'!t (or such other penod il!t
<br />applicable: law may spct;ify for rcin5tutcmcnll before: sale: of Ihe Propert)' pUf>,unnt 10 an)' power nf ~Ic conlamro in Ihl'
<br />Security Ins.trumenl; or (bl entry of njudgment enforcing this Secunty In!l.trumc:nl. Thu!.e condltinm. are thut Borrower.
<br />(a) pays Lender all sums which then would be due under lhis Securily InMrumenl and 1111: Nole had no ul:c..'Clerallon
<br />occurred; (b) cures any defaull of any other co\{enanlS or agreement,,; (c) pay!. all cxpcn..e.. lII..:urrcd III cnforcmg thl~
<br />Seeunty Inslrument, induding. but nol limited 10, reasonable 1II1orncy!<t' fee,,; and (dl take... ...udl u..:11l1ll it.. Lemkr ma}
<br />rem.onably reqUire to assure that the lien of thiS Security In"trumenl, Lender.... right!. Ifl thl" Prtlpcrt~ allJ Bllrrm..t"r....
<br />obhgallon to pay the sums secured b). lhl" Securily Im.trumc=nt ...hull ":llntlnUC undlUlIged t'pllll ICIII...I:llrmenl h~
<br />Borrower. till!. Sccunl)' Imtrument Bnd Ihe obhgation!!. !>ccured h 'rc=h} ..hall n:mulII fully clTe..:ll\ t. iI'" II flll.h l.rknlllllll hilll
<br />nc..:urrw. Howe\,'er. thl!!. nght to remMate !l.hnll not apply 10 the cu-.c llf Ill':l,.-deralltltl umkr paf'llll-f'llph, 11, 'I 1 ~
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