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<br />88,-- t07093
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<br />If Lender requir.,..r !,"f);rtgllgc insui.:!lnce as a condidon of making the loan secured by this Security Instrument,
<br />Borrower shall pay the ,"''''1,i~,its require<! to maintain the Insurance in effect until such time as the requircment for the
<br />Insurance terminates in ac..vidance with Borrower'sand Lender's wrillen agreement or epplicablelew.
<br />8, IntpeCtlon, Lender or its agent mey make reasonable entries upon and Inspections of Ihe Propeny. Lender
<br />shall give Borrower notice at the time of or prior to an inspection spec'.fying reasonable cause for the inspection,
<br />9, Coodemlllldon. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnellon or olher taking of any pan of Ihe Propeny, or for conveyance in Iicu of condemnation, arc herehy
<br />assigne<! and shell be paid to Lender.
<br />In the event of a total laking of the Propeny, Ihe proceeds she ~I be applie<!to the sums secured by this SecurilY
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a panialtaking of the Property,
<br />unless Borrower and Lender olherwise agree in writing, the sums secured by this Security Instrument shell be re<!uced by
<br />tbe amount of the proceeds multiplie<! by the following fraction: (a) the total amount of the sums secured immedialely
<br />before tbe taking, divided by (b) the fair market velue of the Propeny immediately before Ihetaking. Any balance shell be
<br />paid to Borrower,
<br />If the Propeny is abandone<! by Borrower, or if, after notice by L.ender to Borrower Ihal Ihe condemnor offers to
<br />make an award or seule a claim for damages, Borrower fails to respond 10 Lender within 30 deys after the dale the notice is
<br />given, Lender is authorized 10 collect and apply the proceeds, at its option, either 10 restoration or repair of Ihe Propeny or
<br />10 the sums secure<! by Ihis Security Instrumenl, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in wriling, any application of proceeds to principel shell not extend or
<br />postpone the due date of the monthly payments referred 10 in paragraphs I and 2 or changelhe amount of such payments,
<br />10, Borrower Not Releued; Forbearance By Lender Not a Waiver, Extension of the time for payment or
<br />modification of amonization of the sums secured by Ihis Security Instrument grante<! by Lender to any successor in
<br />interest of Borrower shall not operate to release the liebility of the original Borrower or Borrower's successors in interest.
<br />Lender shalJ not be require<! to commence proceedings against any successor in interesl or refuse to extend time for
<br />payment or otherwise modify amonillllion of the sums secure<! by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors in inlerest. Any forbearance by Lender in exercising any righl or reme<!y
<br />shall not be a waiver of or prccludethe exercise of any right or reme<!y.
<br />11, Succcsaon md Aseigtlll Bound; Joint md Several Liability; Co-signers, The covenants and agreements of
<br />this Security Instrument shell bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shell 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 mongage, grant and convey
<br />that Borrower's interest in the Properly under the terms of this Security Instrument; (b) is not personelly obligate<! to pay
<br />the sums secure<! 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 terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />U, Loan Cbarges. If the loan secure<! 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 collecte<! or to be collecte<! in
<br />connection with the loan exceed the permiue<! limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permilled limit; and (b) any sums already collecled 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 paymenl to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partiaJ prepayment without any prepayment charge under the Note.
<br />13. LetIlslation Alfeeting Lender's Righls. If enactment or expiralion of applicable laws has the elfect of
<br />rendering any provision oflhe Note or this Security Instrument unenforceable according to its terms, Lender, at its oplion,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies
<br />pennitted by paragrapb 19. If Lender exercises this oplion, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Properly Address or any other eddress Bonilwer designates by nolice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's eddress stated herein or any other eddress Lender designates by notice to Borrower. Any nOlicc
<br />provided for in this Security Instrument shell be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />IS. GovemiDg Law; Severability. This Security Instrument shall be governed by federal law and thc law of the
<br />jurisdiction in which the Property is located. In the evenlthat any provision or clause of this Securily fnstrument or thc
<br />Note conllicts with applicable law, such conflicl shall nol affect other provisions of this Securily Instrument or the Note
<br />which can be given elfect without the conflicting provision. To Ibis end the provisions of this Securily Instrument and Ihe
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shell be given one conformed copy of the Note and of this Securily Inslrument.
<br />17. Trmsfer of the Property or a Bene6ciallnterest in Borrower. If all or any pan of the Propeny or any
<br />interest in it is sold ortransferred (or ifa beneficiel interest in Borrower is sold or lransferred and Borrower is nole natural
<br />person) without Lender's prior written consent, Lender may. at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option sball not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration, The notice shell provide a period
<br />afnot less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails 10 pay these sums prior to the expiration of Ihis period, Lender may invokc any
<br />remedies permiued by this Security Instrument without funher notice or demand on Borrower,
<br />II. Borrower's RJaltt to R_te. If Borrower meets certain conditions. Borrower shall have Ihe right 10 have
<br />enforcement ofthis Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as
<br />epplicable law may specify for reinstalement) before sale of the Propeny pursuanl 10 any power of sale contained in Ihis
<br />Security Instrument; or (b) entry of a judgment cnforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender ell sums which then would be due under this Security Instrument and thc Note had no ecceleration
<br />occurred; (b) cures any default of any other covenants or egreements; (c) pays all expenses oncurred in enforcing this
<br />Security Instrument. including. but not limited 10, reasonable auorneys' fees; and (dl takes such aclion as Lender may
<br />rasonebly requIre 10 assure thaI the lien of this SecurilY Instrumenl, Lender's nghts In the Propeny and Borrower's
<br />obtiplJon 10 pay the ~um5 RCufP.d by Ihis Security Instrument shan conllnu~ unchanged. Upon remstatcmalt by
<br />Borrower, this Secunty Instrumen' and the obligations secured hereby shall remaon fully elfectlve as If no acceleration had
<br />occurn:d. However. thiS ngbt 10 rein~'.lc shall not apply an the case ofaccelcratlon under paragraph!l 1:\ or 17.
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