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I
<br />102644
<br />If Lender required mortgage insurance 87--. 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, direct or 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 writing, any application of proceeds to principal shall not extend or
<br />Postpone the due date of the monthly payments referred to in Paragraphs 1 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 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 />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: (h) is not personally obligated to pay
<br />the 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 terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sits maximum loan
<br />connect, 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 tits refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower If refund reduces principal, the reduction will be treated as a
<br />partial prepayment without arty Prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security instrument unenforceable according to Its terns, Lender, at its option•
<br />may require mttnediatc payment in full of all sums secured by this Security Instrument and may invoke arty remedies
<br />Permitted by paragraph 19. If Linder exercise.. this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />tit Notices. Any notice to Borrower provided for m tors Sec arty It shall he given by delivering it or by
<br />mailing a by first class mall 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 given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by nonce to Borrower. Any notice
<br />provided for to this Security Instrument shall he deemed to hair been glyen to Borrower or Lender when given as provided
<br />Ili this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall Ire governed by federal law and the law of the
<br />jurisdiction m which the Property is located. In the event toil 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 />which can be given effect without the conflicting provision. To tills end the provisions of this Security Instrument and the
<br />Note are declared to be severable -
<br />16, Borrower's Copy, Borrower shall he given one conformed copy of the Note and of this Secunty Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the Property or ally
<br />interest m it is sold or transferred (or if a beneficial interest in Borrower Is sold or transferred and Borrower is not a 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 Secunty Instrument. However, this option shall not be exercised by Lender if exercise is prohibm by
<br />federal law as of the date of than Secunty Instrument.
<br />If Lender exercises this option. Lender shall gi +,c Borrower notice of acceleration. for nutic'e shall provide a trend
<br />of not less than 30days from the date the Hoare rs delivered or marled within which Borrower nirt +t pay all turns secured by
<br />this Secunty Instrument If [Itrrnrwer Calls sir pay these sums prior to the e.xpirauon of this pr; „ad. Lender Heal 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 ,hall imvr the tight to have
<br />enforcement of this Sec urrty Instrument discontinued at any acne prior to the earlier ref. (a) 5 days
<br />Applicable law may speedy for reinstatement) before sale of the Pro rit pursuant to
<br />Security instrumrrlt: air (or such other proud as
<br />lb) entry of a Judgment enforcing this Secuny InNtntment 7 h „seer ndition, ale
<br />ary Illat B” rr,,wc�rs
<br />(a) pays Lender All sum, which then would ter due under this Secunty Instrument and the Mute had nu airrirrauun
<br />occurred. (h) :oire% any default arf any other ccrvrnants ar agre'<menis, tc) says all rx
<br />Sr unh 8mtrurnrart, mchaclmg. hilt not limned to, reasonable attorney,' fee+,
<br />1 tame+ ntcurrcd in cnturcirtp, thi,
<br />eras< sable require h, assure that the ben of this Secalnll Instrument, I.cndrr�saria•d) take +,arch action as
<br />;ail �aia¢n n >.,y t}ir I c•ndc r Play
<br />d 'uni, secured by tilts Srcunty ght% In the 1'n,i,crty anal Bulr„wcr's
<br />iK rr we'. r} a ti K- lraarurraent anal tl r ohhgatiom secured hereby shall �rrmion f1rl,�y rfTe, ipl
<br />�:r ar pa,n aa'nntttrr,trnt hr
<br />cd 11 w. , c,. !hi. ns ht to relnst�tr shall n,at ;apply an Ifte c.y•r: ref a f allml lies!
<br />�accr lcralu>rn under r:tt a }.(,,rein, I i ,,;
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