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87- 104699
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premium required to maintain the insurance in effect until such time as khe requirement for the
<br />insurance terminates iniccord
<br />_ muce,with'tortower's and Lender's written agreement or applicable law.
<br />8. Inaleection. Lender or,41ts' n-may make reasonable entries upon and inspections of the Property, Lender
<br />"I give Borrower notice at the den 6for pni" 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 or 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 lnstrumrnt 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 or 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 Properly or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Leader 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 I and 2 or change the amount of such payments.
<br />141. Borrower Not Rekes* Forbearance By Leader Not a Waiver. Extension of the time for payment or
<br />modification ef 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 he 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 />"I not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and AxWW Bosind; Joint and Several Lialsilitr, 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; (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 Borrowers consent.
<br />12. Lem Clearges. 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 intcrest'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 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. Leglidelion Affectlog 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 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 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 "I be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Lair, SeveralMly. This Security Instrument shall he governed by federal law and the law of the
<br />jurisdiction in which the Properly is located. In the event that 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 this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. 's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer ofthe Property or a Beneficial Interest in Borrower. [fall or any part of the Property or any
<br />interest in let is sold or transferred (or if beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lcndcr*% prior written consent. Lender may, at its option, 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 low 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 period
<br />of not loss. than 30 days from the date the "tee is delivered or mailed within which Borrower must pay all sums, secured by
<br />this Security Ins"Umcul. It Borrower f" to pay these sums pnor to the expiration of this period, Lender may invoke any
<br />rimicifin permitted by this Sectulty Instrument without further notice or demand on Borrower.
<br />If Borrower mcciscerlaut conditions. Borrower shall have the right to have
<br />"Forcoment of this Security lawunicatt discontinued at anytime prior to the earlier of (a) 5 days (or such other pen(A as
<br />applicable low may specify for rcinstotemem) before sale of the Property pursuant to any power of %die contairiLd in this
<br />Security tastrumem, or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays LeWer all vim which then would be due under this Security Instrument And the Note had no acceleration
<br />occurred; (b) rum any dchatt of any other covenants or agrecincoM (c) pays all expcnscs incurred in enforcing this
<br />Uwrlty Instrument. inchmim& but not honed to attorneys fees.; and (d) takes such action as l.crider may
<br />tvasonably r to Assure that the hen of this Security Instrumcni. Lender'% rights in the Property And Mirroaer's
<br />obitgaiwo to pay the sums secured by this Security Instrument shall ctniiinuc unchanged. Urx)n reinstatement by
<br />Wwrow", th"Secusity Inmrummi andthe cibitgalions -docurial hctcb,, %hall remain fulls cffmiivc a, ifiwA,:ccleration had
<br />mcuvrrd, Howeter, then "ithl to rcm%wt :halt not apply in the case, of acceleration tinder paragraph, I lof 17
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