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87-- 101788
<br />1 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lenders written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property_ 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 or claim for damagm director 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 total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<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 fraction: (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 />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 writin& 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 payureuts.
<br />10, Borrower Not Released; Forbearance By Lender _lot a Kaiser. 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 Borrowers 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 />11. Successors and Assigns Bound, Joint and Several LiabdW, Co- sirs. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the previs
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />E Instrument but does rot execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey
<br />that Borrowers interest in the Property under the terms of thL, Security Instrument_ (b) is not personally obligated re pay
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower ma) agree to extend -
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the 'wire aithats
<br />that Borrowers consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law winch sets maximum loan
<br />charges, and that law is finally interpreted se. that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitter, limits, then: (a) any such kKm charge shall be reduced by the air mm
<br />necessary to reduce the charge to the permitted limit: and tb) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender -nay choose to make this refund by reducing the principal owed
<br />under the mote or by making a direct payment to Borrower- If a refund reduces principal. the reduction wil; be treated - 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 the e$'x-t of
<br />rendering any provision of the Note or this Security Instrument_ unenforceable acc wding to its terms. Lender, at its cvion-
<br />may require immediate payment in full of all sums -secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this optic n_ Lender shall take the steps specified in the second paragraph ovf
<br />paragraph 17.
<br />14. Notices, Any notice to Borrower:-' ro, ided for in this Security Instrument shall be gis en by deli enng 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 />Property Address or any other address Borrower designates by notice to Lender_ Any notice to Leader shall be pve —. by
<br />first class m --1 to Lender's address stag he ein or a=ny other sodded, Letts#, des grates by notice to Borrower- Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as pro%ided
<br />in this paragraph
<br />15. Governing law: Severability. This Security Instrument shah be aoverried by federal taw and the law of the
<br />jurisdiction in which the Property is located. In the a =cot that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />w hich can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Secunty Instrument-
<br />- 1?. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pan of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is no, a natural
<br />person) without Lender's prior written consent, Lender may. at its option. reauire immediate navmew in full of all cstmc
<br />secured bi, this Security Instrument. However. this option shall not be exercised by Lender i£exercise is prohibited by
<br />federal law as of the date of this SL unty Instrument.
<br />If Lender exercises t his option, Lender shad give Borrower notice of acceleration. The notice shall prov ide a period
<br />of not legs than 30 days from the date the notice is delivered or matted within which Borrower must pay all runts secured by
<br />this Secunty Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior io the earlier of (a) 5 days (or such other period as
<br />L applicable law ma} specify for ronuatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrurent, or (h) entry of a judgment enforcing this Security Instrument Those conditions arc that Borrower:
<br />(a) pay, Lender all sums which then would he due under this Security Instrument and the Note had no acceleration
<br />occurred- (h) cures anv default of any other covenants or agreements: ic) pays all expense, incurred in enforcing this
<br />Security Imtrurnent. Including, but not limited to, reasonable attorney,' fee,, and (d) takes such action as Lender rnav
<br />reasonably r•yuirt to assure that the hen of this Security Instrument. Lender's right, in the Property and Borrower',
<br />nbhgaii ;,n i., pay the suit, ,e, used by this Security ln,trumeni ,hall conwiue unchanged Upon rem,iatcment M
<br />Born�w�v, ih ;, viccunty hi,irmuent ,vid the,rhingatronssccurcd herehv ,hall remain fully rtfecmc i, it no a- cleiation had
<br />«guard H.- never, iht, right to rciiwatr sh,.Il nni apply m the ca,c �1 ,w,- clrrawin uaidcr paragraph- 1 +ni 1-
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