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86^ 100732
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<br />If Lender required mortgage insurance as a condition of malting 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 />S. 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, director consequential• in connection with
<br />anv 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 Secunty Instrument shall he reduced by
<br />the amount of the proceeds multiplied by the following fraction: Ia) 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 Lender to Borrower that the condemner offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lendcr within 30 days after the date the nonce is
<br />given, Lender is authorized to collect and apply the proceeds, at its option- either to resioratton 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 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 interesi 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 mace
<br />by the original Borrower or &)rrow•er 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 arty 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, suhject to the prov isions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several Any Borrower who co -signs this Securtiy
<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: (h) is not personally obligated to pay
<br />the sums secured by this Secunty and (c) agrees that Lender and am other Borrower may agree iC extend.
<br />Instrument;
<br />modify. forbear or make any accommodations with regard to the terms of this Secunty Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Securtiy Instrument is suhlect To a law vyhich sets maxitrum loci:
<br />charges. and that law is finally interpreted so that the interest or other loan charges collected or to he c_ciiuted rt
<br />'tic
<br />connection with he loan exceed the permitted limits, then: (a) am such loan charge shall he reduced the am:uir,t
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already colleeied from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the p rincipai : wctii
<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 Lender's Rights. If enactment or expiraifon of applicable iaws has the effect ••.
<br />rendering anv provision of the Note or this Secunty Instrument to Ils +erns• Lender, at ,ts op:;on.
<br />may require immediate payment in full cif all sums secured he this Secar..c lip,jiumeTil and may t evoke im remedies
<br />permitted by paragraph 1`v. If Lender exercises this option. Lender shall take the sten.s specified to the second paragraph of
<br />paragraph 17.
<br />14. Notices. An% notice to Borrower provided for in -' s Securnv Ire,tnimcni shall he gt,cr. h.% Jeinernng a r.r ray
<br />mailing it by first class mail unless applicable law requires a_se of another method. The notice shall be dnected to !h,:
<br />Property Address or any other address Borrower designates by nonce to Lender Anv notice to Lender shall he given h}
<br />first class mail to Lenders address stated herein or any other address Lender designates by notice to Borrower. Am none
<br />provided form this Secunty instrument shall he deemed io have been given to Borrower or Lender when even as rr + ideci
<br />in this paragraph.
<br />15, Governing Law; Severability. This Securty Instrument shall he governed by lcdc•ral law and the 'a,.% .•f the
<br />junsdiction in which the Property is located. in the event that arty prrnision or clause cif this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other prosisions of this Securtiy Instrument or the Note
<br />which can be given effect without the conflicting pro%tsion. To this end the proviswns of this Secunty lnstrumeni and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy o f t he Note and of Ihis Security instrument
<br />17. Transfer of the Property or a Beneficial interest in Borrower. if all ,r any pan of the Properiy 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 optuin shall not be exercised by Lender if exercise is pn,hihited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of cceleralIon The notice shall provide s period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all swims secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender mac invoke any
<br />remedies permitted by this Security instrument without further notice or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meet certain conditions. Borrower shall hayc the right to hate
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) C days for such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to an,v power of sale contained in This
<br />hose, that Borrower
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<br />i Secunty instrument, or (bt en: -c of a judgment enforcing this Secunty Instrument 1 ctmdinons are
<br />be due under this Secur Instrument and the time had no ac,:cic-r non
<br />L ta) pays Lender all sums which then would ty
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<br />occurred: (h) cures am default of any other covenants or agreements. {e) pays all expenses ,ncurred In enl n.nig ih!s
<br />Secunty Itnt umem. iacludinp, but not limited tit, reasonahle attornevs' fees. grid id1 takes such tenon as Le rdv, rnav
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<br />reasonably require to assure that the lien of this Secunty Instrument. Lender's rights in the Prnper.y and Bt r %cr"
<br />obligation to pay the sums sersrcd h% this Sceurn+ instrument shall i,,ntinue unchanged I h:vi rrurta; <mer.r he
<br />ior row er is fir.. :rat o .strururnI tine! the ahIILauons sccur d hrrt+ sum`; rcrn;uui titlly rlf ^.I .i :. i . I, , in,•n ha,:
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