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<br />87- -10181 .�
<br />87- 101708
<br />If Lender required.- WAirtgagw i.asurance as a condition of making the loan secured by this Security In-
<br />srrumem, sWIIl 4h" re�riiums i1equired to maintain the insurance in effect until such time as a requirement for
<br />Lender's iaw.
<br />[he insuran t ac�r ct►4tliurrower's and written agreement or applicable
<br />8. I make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior w an inspection specifying reasonable cause for the inspection.
<br />9- Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnation, are hereby assigned and
<br />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 u; Borrower- In the event of a partial taking of the Property, unless
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by iheatnu m:
<br />of the proceeds multiplied by the following fraction: tat the coral amount of the sums secured immediately before taking,
<br />divided by .bl the fair market value of the Property immediately before the caking. Any balance shall be paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after nuticeby lender to Burrower that the condemnor offers to make
<br />an award or settle a claim for damages, Burrower fails to respond it) Lee -,-Jer within ;41 days after the date the notice is gjven,
<br />Lender is authorized to collect and apply the proceeds, at its option- either ul restoration or repair of the Property or to the
<br />sums secured by this Securiry 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 Instnunent grained by Lender to any successor in interest of
<br />Burrower shall not operate to release the liability of the original Bor oweror Borrower's successors in interest- Lendershall
<br />not be required to ulmmence proceedings against any successor in interest or refuse coextend time for payment uro cherw ise
<br />modify amortization of the sums secured by this Security Instrument by- reason of art demand made by theuriginal Burrower
<br />or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waicerotor
<br />preclude the exercise of any right or remedy,
<br />I I_ Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this
<br />Security instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pro%iston<uf
<br />paragraph 17. Borrower's covenants and agreements shall be joint and several- Any Burrower who co -signs this Sec virtu
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<br />Instrument but does not execute the Note: to I is co- signing this Security Instrument only to mortgage_g `,rant and convey -bar
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<br />Borrowei s interest in the Property under the terms of this St"o le, Instrument; : bi is not personally obligated to pay the
<br />sums secured by this Security Instrument; and i c) agrees that Lender and any tther Borrower may agree to extend, modify
<br />forbear or make any accommodations with regard to the terms of this Security Instrument or the Note withour €hat
<br />Burrower s consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum ioan
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<br />charges, and that law is finally interpreted so that the interest or other Juan chargescollecred or to be collected in ccrmiection
<br />witIuthe loo — exceed the permitted limits, then: (a i any such loan charge shall be reduced by the amount necessary to rtoucc
<br />the charge to the permitted limit, and t, Ill any sums already cutircted from Borrower which exceeded permitted limits soil be
<br />refunded to Burrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making .1
<br />direct payment to Borrower. If a refund reduces principal, the reduction will be treated as at partial prepayment withou=t am, _
<br />prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enaolment or expiration of applicable laws has the effect of rendering
<br />any provision of the Nutt, or this Security Instrument unentarceable according to its terms, lender, at its uption. may require
<br />immediate payment in full of all sums secured by this Security- Insrrumenr and may invoke any remedies permitted En-
<br />paragraph 11). If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 1,
<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 -mother method. Thr notice shall be directed to the Property
<br />Address or arty other address Borrower designate- by notice to Lender. Any notice to Lender shall be given by first class mail
<br />to Lenders address stated 'herein or any other address Lender designates lay notice ro Borrower- Any notice provided form
<br />this Security instrument shall be deemed to have been given to Borrnweror Lender when given as provided 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 SeLuriry Instrument or the Note
<br />conflicts with applicable law, such conflict shall not affect ether provisions of this Security Instrument or the Note which can
<br />be given effect without the conflicting provision- To this end the provisions of this Security Instrument and the Nore are
<br />declared to be severable.
<br />16. Borrower's Copy. Burrower shall be given one conformed copy of the Note and of this Security Instrument -
<br />17. 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 for if a beneficial interest in Burrower is sold or transferred and Borrower is not a natural
<br />--- - - person: Rol hr}ili endcr S prior written consent, Lender may 37 its i pni)II, require immrtitate payment to ttlli of .lit SitS
<br />secured by this Securitv Instrument. However, this option shall not beexercised by Lender if txercise is prohibited by tederai
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<br />law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shallgive Burrower notice ut acceleration. The notice shalt provide a periisf ill
<br />not less than 30days from the date the notice is deliveredor mailed within which Nxrrower must pay all sutras secured by this
<br />Security lnstrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may tirroke am
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower
<br />18. Borrowers Right to Reinstate. If Burrower meets certain conditions, Borrower shall have the right to have
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<br />enforcement of this Security instrument discontinued at any time prior to the earlier of. (a r 5 days or .uch other period is
<br />to
<br />applicable law may specify for reinstatement, beforesaleof the Property pursuant tuany power of silt.nnitamed m this Se-
<br />curtly Instrument, or (b) entry of a judgment enforcing this Security instrument- Thou condlnans are that ltiirnlwer, : ai
<br />pays Lender all sums which then would be due undet this Securicv Instrument and the Note had nu atcclerain +n incurred.. h
<br />cures an} 110atlll at .ray otlrr ton.cnannot agreements: In pays Alexpctises incurred lo, enforturg th :,>etilrlty lnstrumrnt,
<br />I tlehtdmg, ha not lonifed ill, rt.i,onable att,lrot,N, tees, and tdl take, ,h alrii In a, Lendt'T nl.il rea,tln,hll ivgimv fir a,-
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<br />sure that the {hen v,I chi!, tiettuay In,trulotill- f.colltr s righls In tilt ltr.)IX'rls cold B+TTiitti-I E •rl,lhg.it . >1i ?-- 1',t\ till "Uitl,
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<br />Hettlrt -d foy -fill, Suttirlty Insirooltol , liall.itntsilue un.hanged 111111 re'IRSl Jit'mt'm hi KlTh"tI till, 'sec :.!.It ili�ld :l nlc',5t
<br />'I'd the .lbhgafiiiilM1 ,..,iced 11C'rt't" .ji,11 tt'illJol fulls t "ltt'.tt \t' it 11 f ", Lilt -4 - 1311!, h,t,` it�,, \ti- '_i111 rlgfu 1�:
<br />reul,talc ,I :th nit [,I'll ill ill, i., .,I .Ili.- 1,'j"it. 01011 j1'o,ll;t,I il, I -d - -
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