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F
<br />87--- 104228
<br />If Lender required mortgage insurance 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 />insurancc terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />3. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection.
<br />4. 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. fit 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 proceed, 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 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 he joint and several. Any Borrower who co -signs thi, 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; (b) 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 sets maximum loan
<br />charges, 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 chaise 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 prepayment without any 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 unenfiorceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of ail sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<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 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 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 />IS. Governing Law; Sevembility. 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 Securny Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affiw 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 he severable.
<br />16. Borrower's Copy. Borrower shall he 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 pan of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower as 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 sum,
<br />sc -cured by this Security Instrument. However, this option shall not he exercised M (_ender if exerca,c is prohibited b%
<br />federal law as of the date of this Security Instrument.
<br />if Lender exercises this option, Lender shall give Borrower notice of acceleration. i'he ndlticc ,,hall provide a l) rood
<br />of not Scs than 30 days from the date the notice is delivered or matted within which Borrower must pay all suns secured by
<br />this Security Instrument. If Borrower fails to pay these scams prior to the exparatron of tilts pernxi. Lender nta) invoke anv
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18. Borrower's Right ro Reinstate. If Borrower meets certain conditions, Borrower shall have the right to hate
<br />cnforccrttent of this Security Instrument discontinued at any time prier to the e.trher of tat 5 lays for ,n. h other period a,
<br />applicable (saw may spa°cafy f,,r reinstatement) Wore sale of the Property pursuant so any power of sale iontatncd ttt tires
<br />S� urny Instrurent; Of IN entry 4 a judgment enti tong this Security Instrument I how :ondttion, arc that Horr—wcr
<br />(a) MO Lender all sums which then would be duc udder than Security Instrumrott and the Ante had no xcrlruuoi,n
<br />tM:curresl, €ht dare, art% tiefault ,,f tiny other tio%ctialltt, Of agTic'rlterltS: tc.l p3 }. ail espen,c', .I.illr(e,l in into r m,,„ ;fit,
<br />weary Inslrutllfnt, lrwlutlang, but not limited to, rcaas„nablc attorneta- fCtc'. grid fcl} !,tikCs urlf .nrr,m a,
<br />reawarrWyh requirr to avtute that the. Ilan r,f 11tts ste,, treaty Instrt.rnae =r 1. I cta :fe:-, n tats ;,, th.. f'r,l,rrc_t .,u,i It,;;,,t,c ,
<br />lt.€ awns ",awn! by tons Sra-ur,ty Instrtnnrrl ,fin r,uann..e• <.. is :,. „ i {. •r „,t„t, +t: r,ir „r ,,�
<br />I rot, t a,r y e 1 ieE Iris r a, rrrrf .arid the r hl1ga?w14s,a r tut'd h lalri 'h e l na; t ;i 1 i , .,, J
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