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8fi- 100444
<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 />& 1niipeetien. ,Lender or its agent-may make reasonable entries upon and inspections of the Property. Lender
<br />shaft iveStn umier notieeat tthetime of orprior to en inspection specifying - reasonable cause- forshe inspection:
<br />9. Cotpidenittaflon. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnatiort.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 actotal taking of the Property,
<br />he 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 immediateiy
<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 />matte as award or settle a claimfor damages, Borrowerfails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized io 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 1 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, suliject 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 Borrower sconsent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject io it 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 be refunded to Borrower. Lender may choose to Iaake 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 the Note.
<br />13. Legislation Affecting tender'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 fit the second paragraph of
<br />paragraph 17
<br />114. Notices. Any notice to Borrower provided for tit this Security Instrument shall be given by (fehvering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The nonce shall he directed u) 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 w 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 />13. Governing Law. Severabilitr'. This Security Instrument shall he goserned 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 (tie
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this St Lunty Instrument or the Note
<br />which can be given effect without the conflicting provision. To tlii% end the provisions of this Security instrument and the
<br />Note are declared to be severable.
<br />16. Borruwer's Copy. Borrower shall be given one conformed copy of the Note turd of this Sccurtty lnstnnucnt.
<br />17. Trauder of the Property or a Beneficial Interest in Borrower. if all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower i% sold or transferred and Ilorrowcr is not if natural
<br />per. mi without Lender's prior written consent. Lender may, at us option, rcy(un: unmcdrate payment in full nl all sums
<br />secured by this Security instrument. However, this optiou shall not be exeicixd by Lender if exercise i% pnihiMted he
<br />federal law as ofrhe date of this Security Instrument.
<br />If Lender exercises tilts option. Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Burrower must pay alt sums secured by
<br />this Security Instrument. If Borrower fails to pay these %urns poor to the expiration of this period. Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand nit Borrower
<br />IS. Borrower's Right to Reinstate. If Burrower mLets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discominued at any time prior to the cal her of (,1) 5 days (or such iiiher period as
<br />applicable law may specify for rculstatetnent) helote Sale of the Property pursu,ut to arty power of salt crnrtanrcd n1 fills
<br />Security instrument. or 00 entry of a judgincnt eitfor•cirig this security instrument hin,sc conduums :ire that Horrinves
<br />(a) pays i.eiider all runts %11101 then would be due antler this security lnstrumcnt curd the Note had ni uccicr;uunt
<br />occurred: (.b) cures any default of any nthef covenants of agreements (ci pays till espenses incurred III onimcntp thn
<br />Sreurity lnstrumcnt, itn:1!udnrg, but not !united to. leasnnahle attorli s' lees. and td) lakes such icur,ri as I Crider nun
<br />reasonably rcy(nre try a sure that the hen of 1113" Security Instrument. I.,rndry's rights m Ihr PrI perry :Intl Binu i.rI
<br />uhltgati.Nr IIa pis the sutras sccurrd by this Security Instruniviii shill o"i-1ur unchanrrcl 1 ,m cm.talrnirn; h�
<br />Bittra,svr r. till 5 : +11y- 111"Ir4rnle n, and the A01gall"llis curie h -rct.} hall +ern nn �ul!� ttri 111 it n n..: k I.itwl, h,d
<br />_asr 1S )1*He�rr Ihrx right r:, r,irstatrahall n +n ilpp . III 01C 1 a•,t 3"f -i•.. A, l 1
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