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If Lender required mortgage insurance as a condition of making the loan secured by this SecOuritty nslr ment,
<br />Borrower shall pay the premiums required to 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 or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior 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 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 the event of a partial taking of the Property,
<br />unless Borrower and Leader 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 />Wm 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 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 />10. Borrower Not Relemed, • 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 cxcrcise of any right or remedy.
<br />11, Swceum t • 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. Borrowers 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 Borrower's consent,
<br />11 [acts Charges. If the loan scoured 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 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 reducers 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 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 119. 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 he 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 />15. Governing Law; SeverabiGty. 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 thas 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 dared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security instrument.
<br />37. Transfer of the Property or a Beneficial Interest is Borrower. If all or any part of the Property or arty
<br />interest in it is sald or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not anal u ral
<br />person) without Leader's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />cured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is piolubited by
<br />federal law as of the dateo f this Security Instrument.
<br />If Leader cxercises this option, Lender shall give Borrower notice of acceleration. The nol ice shall provide a peri(XI
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If grower fails to pay these sums prior to the expiration of this period, Lender may ni%oke any
<br />permitted by this Secunty Instrument without further notice or demand eta Borrower.
<br />I8. 's Rat to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have
<br />C11150MCM4114 of this Security Instrunteitt discantinuei at any time prior to the earlier of. (a) 5 days (or such other 1*rriod as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of .ale contained in tilt,
<br />506-'Ufdy Insiruntenl; or (b) entry of a judgment enforcing ihis Sceurily instrument. Those amditinns arc that Hc,rrower.
<br />(a) pays Lender all sums which then would he due under this Security Instrument and the Note had no acceleration
<br />o"airred; IN cares any default of any other covenants of a9rcemcnls; lc) pays all ex[vri w incurred an enforcing this
<br />Sft-" Inmrumirnt. uitduding, but not limited to, reasonable attorneys' fees: and 4d9 takes such action as Lender rnav
<br />y r ere to assure that the hell of this Security litstrunieni, Lcrrdcr's tights in the Noperiv and 13rnlo%4cr'.
<br />ObhPIMM to pay the autns Wctlfed by this Security Instrument .hall crontinuc unchang:-d t'pcm ieimtawment by
<br />1'kert, ,acts ihi%Smurity insirumem and the otAigati €xis secured hereby shall remain fully ctfcctrrc as it r1a a.eckratu,n had
<br />,sc wrmt.11 <,ac%cr.tiltstightit, rems eat e% halln€! tably mtiroCAseofaCCcleratw nunderpaiaanitlt,1l ,it I1
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