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<br />R~.RECOI'lOED
<br />88- 106856
<br />
<br />88- } 105829
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<br />If Lender required mortgage hls~~once os n condition of milking the lonn secured by this Security Instrument.
<br />Borrower shull pay the premiums required to maintoln the insurnnce in effect until such time as the requirement for the
<br />insurunct' terminates in accordance with Borrower's nnd Lender's written agreement or Ilpplicnblc low.
<br />S. InspectJon. Lender or its agent mny make reasonable entries upon and Inspections of the Property. Lender
<br />sholl give Borrower notice at the time of or prior to nn inspection specifying rensOIlIlblc cause for the inspection.
<br />9. Condemnation. The proceeds of any awnrd or claim for dnmngcs, direct or consequential. in connection with
<br />an)' cond..:mnntion or olher tnking of any part of the Property, or for conveyance in lieu of t:ondcmnntion, arc hereby
<br />assigned and shall be paid to Lender,
<br />In the event of a total taking of the Property, the proceeds shall be applied 10 the sums secured by this Security
<br />Instrument, whether or not then due. with any exces.s paid to Borrower, In the event or u 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 or the proceeds multiplied by the following fraction: (a) the total amount or thc sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately beforc 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 o(fers 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 I and 2 or change the amount of such payments.
<br />to. 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 shaH 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 time for
<br />payment or otherwise modify amortization of the sums secured by this Security 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 right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy,
<br />tt. Successors ood Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this Security Instrument shaH 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 co.signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the tenns of this Security Instrument; (b) is not personally obligated to pay
<br />th..:: sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without
<br />that Borrower's consent,
<br />12. Loon Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the 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 to reduce the charge to the permitted 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 n direct payment to Borrower, If a refund reduces principal, the reduction will be treated us a
<br />partial prepayment without any prepayment charge under the Note,
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has. Ihe cffCCI of
<br />rendering Dny provision of the Note or this Security Instrument unenforceable according to its terms, Lender, lit il!>. oplinll.
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invuke nny remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph nf
<br />paragraph 17,
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given h}' dclivcril1!!: il nr hy
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shull be directed tll the
<br />Property Address or any otller address Borrower designates by notice to Lender. Any notice 10 Lender shull he gl\'cn b)'
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. An}' nollee
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given a~ prtwidLod
<br />in this paragraph,
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federnllaw and the law nf the
<br />jurisdiction in which the Property is located, In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law. such conflict shall not a(fect other provisions of this Security Instrument or Ihe Nole
<br />which can be given e(fect without the conflicting provision To this end the provisions of this Security Instrumenl and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy orthe Nole and of this Security Instrumenl.
<br />17. Transfer of the Property or II Beneficial interest in Borrower. If all or any part of lht' Property or :my
<br />interest in it is sold or transferred (or if a bcnclicial interest in Borrower is sold or transfcrrcd llnd Borrower IS nut a nalural
<br />person) without Lender's prior written consent, lender mny, at its option, require immediate payment in full orall sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as ofthednte of this Security Instrument.
<br />If Lender exercises this oplion, Lender shall give Borrower notice of acceleralion. The notice shall provide 1I period
<br />of not Jess than 30 days from the dale the notice is delivered or mailed wilhin which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration oflhis period, lender mlly'invuke any
<br />remedies permilted by lhis Security Instrument \\'ithoul further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meet!ol certain conditions, Rnrrower shall have the righl to IUI\'l'
<br />enforcement ofthi!>> Security Instrument dh.conlinued ut any time prior 10 Ihe earlier of: (al 5 dllY~ (or sUI,,'1l olher period ;l!.
<br />applicable law may speCIfy for reim.tutement) before sale oflhe Properly pllr!.Ul1nltn :IIlY power ohalc t:nnl:lllled intlll~
<br />Security In!oltrumcnl; or (b) entry nrlljudgmcnl enforcing lhi!. Security Jno;lrumcnl, Those cOlllhllllll!. arL,that Bnrrnwcr
<br />(0) pay!"' Lender all '-Unt!", which lhen would be due under Ihis Security Il1'1lrUl11CIlI and lhe Noll' had Iltl an'clcralltlll
<br />occurred, (hl cure~ :my dcfault uf uny other C(1\'cnanls or agrccmcl1l~: leI pay.. alll'\pclhc" lIll"urrl'd In L'nforl.:lll!! Ihl..
<br />Securily 10001IumcIII, mcludll1!;. hul nul Iimilcd 10, reu'-t11ll1hlc altorney,-' fce..; :lnd (dllake.. "lll:h al'llIlIl a.. l_l'lhkl 111;1'
<br />ren,ulluhll re4ulre III a....urc th:lt Ihe- lien nf this SCCUflly In~lrulJlcllt, I.ender', f'lphh III lhl' Pn\pcr1~ and HII/,n\\l'l'..
<br />llhll~alltHl III rllY Ihe "UIl1" "cl:urcd h)' Ihi.. Sccuntl Instrument ..hilll l'1.1II11f1Ul' Ul1dl;lI1~l'd I 'p,'1I '\'111'01.111"'111'111 h~
<br />Unrrn\\CI, Ihl" SCl"lJrlt) In,trull1CIII untllhc tlhhgmicllt'- 'ccllred hcrch) ..hall rCIll;llll fllll~ dl~'l'll\l' .h II n. \ .1, ,,'kl.11 h'll h,1l1
<br />llu,,:urrcd 1I11\\l"I.cl. IIII'. f1~hlltl relJl..llllc ..hall Jllllllpply IlIlhl"Ca..c lIfal'l"def'allllll \llltlt" l'aral-!,al'li'o I ' "I 1 ~
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