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8s-- 100713
<br />Ia` i.erde -. refit e'l Yi nsura ce as a condition of making the loan secured by this Security instrutttent,
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<br />B�arrctw rr sl'ail pay the Dt cu.. urn's regiuired t � maintain the insurance in tff6a until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lender's written agreement or applicsble law.
<br />S. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall giyc Borrower notice at the time of c r prior to an inspection specifying reasonable cause for the inspection_
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or comseque ntial, in cameetion with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of oatdeatnatim arc 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 venting, 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 Lander 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 clays 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 hate of the monthly payments refuted to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Leader Not a Waiver. Extension of the titre for payment or
<br />modification of amortization of the sutra secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall non operate to release the liability of the original Borrower or Borrower's successors in into- .t.
<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 trade
<br />by the original Borrower or Burrower "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 />ibis Security Instrument shall bind and bent 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 Borrnwer'scDnsatt.
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<br />12. Loan {barges. 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 shat) 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 snake this refund by reducing the principal owed
<br />undcr the Note or by retaking a direct payment to Borrower- If a refund reduces principal, the reduction will be treated as a
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<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting l eader's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering anv provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in frill of all sums secured by this Security Instrument and may invoke any remedies
<br />permitted by paragraph 74_ If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />ii_ %otices, Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by fast class mail unless applicable taw 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 in" to Lenders address stated herein or any other address Linder 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 I.aw; Severability. 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 Secu. -sty instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the dote
<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 />15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument
<br />17. Trams of the Property or a Beneficial Interest in Borrower. If all or any pats of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is 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 sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the due of this Security Instrument.
<br />If Leader exercises this option, Leader 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 Borrower must pay all sums secured by
<br />this Security Instrument. If Borrowcr fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />1g. Sart►wer's Right a Reistatt If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days for such other period as
<br />applicable law may specify for reinstatement) before We of the Property pursuant to any power of sale contained in this
<br />L Security Instrument; or (b) entry of a judgment enforcing this Security Instrumem. Those conditions are that Borrower
<br />(a) pail Lender aii sums which then would be due under this Security Instrument and the Note had no acceleration
<br />occurred. (b) cures any default of any other covenants or agreements; ic) pays all expenses incurred in enforcing this
<br />Security Instrumeni, including, but not limited to, reasonable attorneys' fees: and (d) takes such action as Lender may
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<br />reasonable require to :sure that the lien of this Secunty Instrument. Lrndcr's rights to the Property and Borrower's
<br />obligation to pay the sums secured by this Secunty Instrument Shall -on!:nuc ;ncha;grd Upon rnnstatcmenn by
<br />Rorrorc:. this Security instrument and the obligations secured 'hcrcb.:h;,:':.-_ -a;n 'Lai.. rffc. . r fn, a�ce:crauon had
<br />xcurred Hc+e =err, this right to reinstate shall not apply in ;hc c :-,f .. .. . , ,,..- ,,.. ... 7
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