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87® 101807
<br />' I 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 Lender's 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 damages. 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 anv excess paid to Borrower. In the event of a partial taking of the Property,
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<br />s 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 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 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 ofany demand trade
<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 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 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 terms of this Security Instrument: (b) is not personally obligated to pay
<br />the wins secured by this Security Instrument: and (c) agrees that Leader 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
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<br />that Borrower's consent
<br />12. Loan 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 cudlected 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 sutras already collected from Borrower which exceeded
<br />limits will be refunded to Borrower_ Lender may cheese to make this refund by reducing the principal awed
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<br />permitted
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note_
<br />13. Legislation Affecting Leader's Rights. If enactment or expiration of applicable laws has the efletc-t of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender. at its option,
<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 option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 1'-
<br />14. Notices. Any notice to Borrower proysded for in this Security Instrument shall be given by delivering it or by
<br />mailing it b% 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 Lender shall be give by
<br />first class mail to Lender's address stated herein or any other address Lender designates br notice to Borrower. Art} name
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of 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 affect other provisions of this Security Instrument or the '.vote
<br />which can be en en 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 if the Note and of this Security Instrument_
<br />1?. Transfer of the Property or a Beneficial Interest in Borrower, if all or any part 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 not a natural
<br />-- thou[- r .,ndei's Lender immediate p rrtrnt in furl of all cum,
<br />�aaT ^,:zn=ss: s..c, :uc� a viii =r n�t'itt�. ^: �z ^`x. ^ =t- .._.u..f >� =='my, at its ��.�, r��r� t�.�r�r._,_ �T� -� _� __
<br />secured by this Security Instrument. However, this option shall 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 shall provide a penod
<br />of not less than' 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 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 to the earlier of. (a) 5 days (or such other period as
<br />applicable law may speedy for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security instrument: or (b) entry of a judgment enforcing this Security Instrument- Those conditions are that Borrower
<br />(a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred, Ib) rurcs any default of any other covenants or agreements, (ci pays all expenses Incurred in enforcing this
<br />security instrument, Including, but not hnuted to. reasonable aitr,rneys' fees. and (d) takes such action as Lender may
<br />reauwidhly require t,' assure that the lien of this Security Instrument. I cnder's rights m the Properly :rid Itoiiower's
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<br />!, pa. !hr sum, sr,ureii h, t)u, Seiurnr L,s.rur,:Lru ,hall :,u, :uc un,havEeo t h,,u reWSi:itcn.rn! i -s
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<br />It� rr�w;�t phi, 1runin 1o,ti; :meat m,.i Itic ,hhkdm,ns secured herehs .hall restaam lu)k etl'e,tl,e _is i! row acceleraiwn had
<br />-w, tir!e'�i )(= WL•;'(. 1)i1�t�ihl l� irlt!,I.IIt',Itaili_1;i111�is intht : 'rie'r.
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