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81-wo 102892
<br />Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required la
<br />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
<br />or applicable law.
<br />S. Ins /eetion. Lender or its agent may make reasonable entries upon and inspections of the Property, Lender
<br />Shall give Borrower notice at the time of
<br />or prior to an inspection specifying reasonable cause for the inspection.
<br />9- CONdOmmatim. The proceeds of any award or claim for damages,
<br />any director consequential, in connection with
<br />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
<br />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 following
<br />the fraction: (a) the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property
<br />paid to Borrower. immediately before the taking. Any balance shall be
<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
<br />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,
<br />whether or not then due.
<br />Unless Lender and Borrower otherwise in
<br />agree 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
<br />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
<br />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
<br />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
<br />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 Assign 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
<br />and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be Borrower
<br />Instrument but does not execute the Note: (a) is signs this
<br />`
<br />co-signing this Security Instrumeny [n mortgage, convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument, (b) is not personally obligated
<br />the sums secured by this Security instrument;
<br />to pay
<br />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 sets maximum loan
<br />charges. and that law is finally interpreted so that the interest or other loan charges collected or to be
<br />connection with the loan
<br />collected in
<br />exceed the permitted limits, then: (a) any such loan charge shall be reduced be the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums
<br />already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose tai make this refund by reducing the principal owed
<br />under the Note or by making a direct
<br />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. Legiislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the None or this Secunty instrument unenforceable
<br />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
<br />take the steps s
<br />paragraph 17. p pecified in the second paragraph of
<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 another method. The notice shall be directed
<br />Property Address or any other
<br />,
<br />ie.
<br />to the
<br />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
<br />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 provided
<br />in this paragraph.
<br />15' Governing Law; Severability. This 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
<br />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
<br />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 Security Instrument.
<br />17. Trier of the property Ora Beneficial Interest in Borrower,
<br />if all or an Part
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrowerr is nnotta natural or y
<br />person) without Lender's Prior written consent, Lender may, at its option,
<br />require immediate payment in full of all sums
<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 pence{
<br />of not less than 30 days from the date the notice is delivered or mailed
<br />this Security Instrument. within which Borrower must pay all sums secured by
<br />it d y t If Borrower fails a pay these sums prior to the expiration of this period, Lender may invoke anv
<br />remedies Permitted by this Security Instrument without further notice
<br />or demand on Borrower.
<br />IS. Borrower's Rat to Reltstate. if Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued
<br />at any time prior so the earlier of (a) S days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained
<br />Security Instrument; or (b) entry
<br />in this
<br />of ajudgment enforcing this Security Instrument. Thine conditions are that Borrower
<br />(a) {says Lender all sums which then would be due under this Security Instrument
<br />occurred;
<br />and the Note had no acceleration
<br />(b) cures any default of any other covenants or agreements; (c) pays all expenses mcurrcd in enforcing this
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees;
<br />and (d) takes such action as Lender may
<br />reasonably require to assure that the lien of this Security Instrument, Lender's rights an the Property and ih,rrower's
<br />obligation to pay the sums cured by
<br />this Security instrument shall continue unchanged - Upon reinstatement by
<br />Borrower, this Security Instrument and the obligations cured hereby shall remain Hilly clTrctive as it no acceleration had
<br />occurred, However, this right to reinstate shall not apply in the
<br />w
<br />case ofacceleratlon udcr paragraphs I I or I
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