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86 - 100096
<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 />insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />B. Inspectim. 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. Coademutiotn. 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 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 Propertv 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'$orrower 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 Z or change the amount of such payments.
<br />10, Borrower Not Relessed; Forbearance By Lender Not it 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 mac.
<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 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 Borrowers 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. Lose 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 he 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 he 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 he treated as a
<br />partial prepayment without any prepayment charge under thL 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 14. 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 be 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 hN notice it, Lender. Any notice to Lender shall he given by
<br />first class mail to Lender's address stared herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall he deemed io 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 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 Securmc Instrument or the Note
<br />which can he 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. 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 part of the Propertc or any
<br />interest mill is sold or transferred (or if a beneficial interest in Borrower is sold nr transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may. at its option, regwre immediate payment ur full of all sums
<br />secured by this Security Instrument. However, this option shall not he exercised by Lender if exercise rs prohihited 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. I he nonce shall provIdt' a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which BOfrliwer roust pa, Al sums srctired hi,
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender mac invoke am
<br />remedies permitted by this Security Instrument without further nonce or demand on Borrower
<br />18. Ha mwer's Right to Reinstate. If Borrower meets certain cundiuons, Borrower shall have the right it, hat•
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of fa) 5 bays tier such other period ;is
<br />applicable law may specify for reinstaiementI before sale of the Property pursuant iu any power of s;dr eonuuncd m this
<br />Security Instrument, or (h) entry eof a judgment enforoiiy this Securuy lnstrurneri( Thos; conchttons arc that Borrower
<br />far pays I_.ender all sums, which then would he due under this Sec�rrtty Instrument .ind the \oil' had m+ arre•IetanOn
<br />occurred, (h) cures any default of ativ other covenants of agreernvrWs (.) toa%, all ecpemcs mi lit red ui entin,rti)i Ian ilf
<br />Smunty lmirurnent, Iniludmg. hilt not lintiteih to. reasonably aiiorn ys' fees. and Ddt lako, ,u.h aciu'n n, Lends m,n q�pl
<br />rraso,rrahiy r ^ginrr, n• dssutr that (he hen Of this Securv% Instrument. t ,D&.1 , nght� ITT the !'ngmrlti .inii lt,ni owo+'•. ti)
<br />"bligutioll to pity the surria se,uird hti this Sedum} Insmitw-w ,hall ;.nnilnur m0ialircd I poll
<br />l4oruotu.'et tai, kei chit; )natrumri+t and (tit- al•-d lwwh, .'Drill rrniam full: -Ile. nod a, it 1W A, . 1"ru01„o; hat,
<br />o�ca.rrrrd }i� =wets. ±hv, rrkht 1•+7rnnstaie s11a11 nrn alit+te n; ihr •;r.r c i r, ^L•;. =,i; �inrl i ,;Droc, . •. t .
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