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(' 87® 103711
<br />If Lender required mortgage insurance as ;t condition of making the loan secured by this Security In-
<br />sirument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as a requirement for
<br />the insurance terminates in accordance with Borrower's and lender's written agreemenr or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the property. Lender shall
<br />give Burrower notice at the time of or prior u) an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The pr cceds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnatior, or other taking of any parr 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 he applied to the sums secured by this Security
<br />Instrument, whether ur not then due, with any excess paid to Burrower. In the event of a partial takingof the Property, unless
<br />Burrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount
<br />of tame proceeds multiplied by the following fraction: (a) the total anuront of the sums secured immediately before caking,
<br />divided by (b) the fair market value of the Property immediately before the raking. Any balance shall be paid to Burrower.
<br />If rile Property is abandoned by Borruwer,ur if, after notice by Lender to Burrower that theconefemnoruffers to make
<br />an award or settle a (.film for damages, Burrower fails to respond u) Lender within in days after the date the notice is given,
<br />Lender is authorized to collect and apply the prrxeeds, at its option, either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Burrower otherwise agree in writing, any application of proceeds u) principal shall not extend or
<br />postpone the due date of the monthly payments referred tom paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Lxcension of the time for payment or
<br />modification of itmrtizition of the sums secured by this Security Instrument granted by lender to any successor in interest of
<br />Burrower shall not operate to release the liability tit thr original Burrower or Borrower's successurs in interest. lender shall
<br />not be required cocommence proceedings against any successor in interest or refuse tuextend time for payment or otherwise
<br />modify amortizationof the sums secured by thisSeturny Instrument by reason of anydemand made by theoriginal Burrower
<br />or Borrower's successurs in interest Any furtearante tw Lender in exercising any right or remedy shall not lea waiver of ur
<br />preclude the exercise of any right or remedy.
<br />IL Successors and Assigns Bound; Joint and Several Liability; Co- signers. The• covenants and agreements of this
<br />Security Instrument shall bind and benefit chi.• sutlessnrs and assign of Lender and Burrower, subject cu the provisions of
<br />paragraph 17 Borrower's covenants and agreements shall be tan a and several Ant Borrower Who CU -signs this Security
<br />lnstrumentbu tduesnutexecutetheNute (it isa )- signingthisSecurityInstrument nnl ytomortgige•,grantandconveythat
<br />Borrower's interest in the Property under the terns of this Set tit,ry Instrument, . hi is nut personally obligated n) pay the
<br />fi sums secured by ants Security I list tit menr, and (c ) agrees that I-rnde•r anti arts other Borrower may agree to extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Security Instrument or the Nutt without that
<br />Borrower's consent.
<br />12. Loan Charges. if the loan secured bm. this Security Instrument is subiett 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 n) be u)Ilected in connection
<br />with the loan exceed the permitted limits, then (a) any such loan charge shall to reduced by the anluunt necessary cu reduce
<br />thechargeeo time permitted limit; and (b) any sums already tollected from Burrower whithexcreded permitted limits will be
<br />refunded to Borrower. Lender may choose to make this rchmd by reducing the principal owed under rile Note or by making a
<br />direct payment na Burrower If a refund reduces pnnfapal the reduction wall tx• treated is a partial prepayment without any
<br />prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. It enactment or expiranun ,if ipplicable laws has the effect of rendering
<br />any provisiunuf the Note ur this Securily Instrument unenfurteablr ace, rdulg eo its terms, lender, at its option, may require
<br />immediate payment in full of all sums secured by this Setunty Instrument and may invoke any remedies permitted by
<br />paragraph 19. If Lender exercises this option, Lender shall take the stepssptrtdird um the second paragraph of paragraph 17.
<br />14. Notices. Any notice to Borrower pruvldtA for an this 'security Instrument shall to given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall bedirecred n) the Property
<br />Addressor any other address Burrower designates by not ice o, Lender. Any nurce• to Lender shall be given by first class mail
<br />to Lender's address stated herein or ally other address Lender designates by Haute to Burrower. Any notice provided for in
<br />this Security Instrument shall bedeemed to have been given ro Borrower ar Lender wlmrngiven is provided in this paragraph.
<br />LS. Governing Law; Severability. This Sect -ity Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property Is located . In the event chat any provision or clause of this Se'turity Instrument or the Note
<br />conflicts with applicable law, such conflict shall not affect other provisions of this Setunty Instrument or the Nate which can
<br />be given effect without the conflicting provision. To ttus end the provisions of this Security Instrument and the:• Note are
<br />declared to be severable.
<br />16. Borrower's Copy. Burrower shall be given one conformed a)py of the.• Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Burrower. If all or any part of the Property or any
<br />interest in i' is sold or transferred (or if a beneficial interest in Burrower is sold ter transferred and Burrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of ill sums
<br />secured by this Security Instrument. However, tilts option shall not be exercised by Lender if exercise is prohibited by federal
<br />law as of the date of this Security Instrument.
<br />If lenderexercises thisoptiun. Lender shall give Borrower notice of acceleration. The notice shall provide a period of
<br />rut less than 30days from thedate the notice is deliverector mailed within which Borrower must pay all sums secured by rills
<br />,security Instrument. If Borrower fails al pay these sums prior to the expiration of this period. Lender may invoke any
<br />L 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 rhis tiecuruy Instrument discontinued at any time prior to tee earlier of (i) 5 days (or such other period as
<br />applKA)Ic law 'nay specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Sr-
<br />curity Instrument: or tbi entry of a judgment enforcing this Security Instrument Those auditions .lie that Borrower iii
<br />pay's Lender all sums which then would le due under this Security Instrument and the• Note had no as c kr.0 um Ott urrt d: c b
<br />wrr%any default cif any other tunvenants or agrccttxnts, it ) pays all cxpx'nsce incurred m cnforting Ilan Fe(urrfy tut t anh'nt,
<br />inthxling, but title Inauted tit, reasonable attorrwy%' feest and id) takes such action is 1 ender ntay Iras+nu.ahly rcyuarc to as
<br />sure that rte lien of this Scturtg' lnstnunent, Len ter % rights m tile Property .and Botrriwrr s nhhgatuu to pay rho 'on,
<br />gst.uttA by eht% livtorlty In,ttruntent shall (antattue Umchatlged. Up„)n rrinsrucencna by Burn,wcr, alias 5rvirrtr Insttutntne
<br />atop Our )rbligauort+ wturrd heftby %hall renaain fully effreuye is if no atorla•rai1 )n had ,) ,,u v.l t{ „uric +, rill. nKhl t..
<br /><eoastaer sfaapl suit ..apply it. fix tax• of atcelef.timn under pirogfil,hs i i ,rr
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