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87-- 102736
<br />If bender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />1 ' Borrower shall pay the Premiums required to maintain the insurance in effect until such time as the a requirement insurance terminates in accordance with Borrower's and Lender's written AS or applicable law, eq ement for the
<br />i, IageetNat, iencier its agent ma make reasonable entries u
<br />"give Borrower notice at the tinge ofor prior to an in l and inspection of the Pr
<br />!, inspection specifying reasonable cause for the in arty' Lender
<br />The Proceeds of any award or claim for damages• direct or consequential, , with
<br />any condemnation or other taking f an
<br />OW shall be paid to bender. Y Imrt of the Property, or for conveyance in lieu of condemnation, are hereby
<br />In the event Of a total taking of the Properly, the proceeds shall be applied to the sums secured
<br />Instrument. whether or net then due, with any excess paid to Borrower. In the cunt of a by this Security
<br />Borrower and bender otherwise agree in writing, the sums cured by this Security Instrument tshallbe reduced Property,
<br />the amount of the Proceeds multiplied by the following fraction: (a) the total arnaunt oef the sums secures immediately
<br />before the taking, divided by (b) the fair market value of the Property immediately tota before the taking. Any balance shit! be
<br />paid 14 Borrower.
<br />If the Properly is abandoned
<br />by Borrower, or if, after notice by Lender to Borrower that Ibe 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 lion, either to restoration or repair of the Pr
<br />to the sums secured by this Security instrument, whether or not then due. or
<br />Una 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
<br />lo. Borrawtr Not Relaxed; IRorbearafte BY Lender Not a Waiver. Extension of the time far Payments.
<br />Mod rdeat'On of amortization of the sums secured by this Security instrument granted by Lender to an successor
<br />interest of Borrower shall not cc or
<br />Operate to release the liability of the original Borrower or Borrower's in interest,
<br />st
<br />Pay successor-
<br />Lender shall not be required to commence Prt>ceedings against any successor in interest or refuse to extend time for
<br />inYR►cnt 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. S lad Assigns Bouai; Joint and Severs' Liability; Co�
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />Y silptertt. The covenants and agreements of
<br />Instrument but 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
<br />that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not
<br />Bn g Security Instrument only to mortgage, grant and convey
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and env other Borrower may agree
<br />modify, forbear o
<br />of make any accommodations with regard to the terms of this Sir urity Instrument or the Note without
<br />P" that Horrower'acotrsent.
<br />12. I,own merges. 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 Iran charges collected or to be collected i
<br />connection with the loan c exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the n
<br />n Permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />Permitted limits will be refunded to Borrower. Lender may chase to make this refund by reducing the principal owed
<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 PTePatYntettt without any Prepayment charge under the Note.
<br />13. I Affecting Leader's R a.
<br />rendering any provision of the Note or this Security instrument unrntirceabic' according to terlm%, I- ender, ate its p,
<br />may require immediate payment in full ciail sums secured by this Sccurny Instrument and may invoke any remedies
<br />Permitted by paragraph 19. If Lender exercises this option. Lender shalt take the steps s option,
<br />paragraph 17. ps pecified in the second Paragraph of
<br />14- NOtkV& Any ritetice to Borrower provided for in This Security Instrument shall he given by delivering it or by
<br />mailing it by (first class snail unless applicable law, requires use of another method. The notice shall be directed a, the
<br />Property Address or any other address Borrower designates by notice to
<br />first class snail to Lender's address stated herein or any other address )sender ides. ales by notice Ice Borrower, A given e
<br />Provided for in this Security instrument shat) tx darmed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />13. Corerairrtt IA_
<br />, StTerability. Ties Security Instrument shall he 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 />None 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 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 cis
<br />17. Tratgfet of the Property of a _ copy oft he Note and of this Security Instrument.
<br />interest in it is sold or transferred (or if a beneficial interest Borrro Borrower. ,err If t rail or
<br />rran and tl )f the r'is not a natural
<br />Person) without y part of the r roperty of say
<br />Lender's prior written consent, Lender may, at its option, require imrediate payment in full of all sums
<br />secured by this Security instrument. However, this option shall not . exercised by lender if exercise is prohibited by
<br />federal law as ottee date of this Security Instrument.
<br />if Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a
<br />Of not less than 30da from the date the notice is delivered or mailed within which Borrower must
<br />ibis ScY unity Instrument. if &rrwer fails to P pericxi cur ► tee Permitted by this Security Instrument Puy these further prior to notice h expirndonof this Borrower, (seen all suns nvolocd by
<br />IS. period, Lender may invoke any
<br />enforcement ms's Riot t® Reinstate• If Borrower meets certain condition, Borrower shall have the right to have
<br />Of Ibis Security lnstrunwnt discontinued ntinued at any time prior to slier sashes eel': (a) S
<br />applicable
<br />law May specify for reinstatement) hafnra sale of the pr, days (or such other
<br />unity Inst umm ;; tr (b) antsy oei a judgment enforcing this Sas uritytlnstrumcm trl h ne conclitinns are that file noses`
<br />3 all), power of stir contained in this
<br />(sl �Ys Lender all sums which then would ha due under this See'urlty Instrument and the Note heel no accelrraunn
<br />Occurred' fib) cures any default Of any other covenants or agreements. r` 1
<br />liscurtly treats nt. including, but r" limited tai, raawrnahle attit►ntys• fras; and ids taker snc action a% l,01,in nix)
<br />pa. >'ti all rspcnsc�e incurred in CtltoPlirtlt flit\
<br />r y require to assure that the lien of this Security lntrurrrent, 'fee 'r's rights in the 1'neParty and lkurowcwr %
<br />r l w toz teY
<br />'he sutras secured by this 5ec:urtty Instrument shall rider's r tits III
<br />(!pun retIILIH mane by
<br />twee, stile, unity Instrument ate. the r *hllatioris wturcol hrrehy %hall rriiiain fully cRrc'atvc as if nn ai,crlcratt •n laa,l
<br /><ac.ur lir,wevcr. this right to rainytatc obeli not a
<br />pply,n the case uP as'crleratt :m nndrI l,atagraphs It get 1?
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