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66--. 100744
<br />I If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Btttrower shall pay the premiums required to maintain the insurance in effect until such time its 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 t* Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />P 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 />z assigned and shall he paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall he 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 he reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the ton<i 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 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 1 and 2 or change the amount of suc Pp} payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of file 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 hind 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. Anv 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: (h) is not personally obligated to pav
<br />the sums secured by this Security Instrument-. and (c) agrees that Lender and any other Borrower tray agree to extend.
<br />modifv, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrowers consent.
<br />this Security Instrument is subject to a law which sets maximum loan
<br />12. Loan Charges. If the loan secured by
<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 ntav 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 be treated as it
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. if enactment or expiration of appliathle laws has the effect of
<br />rendering any provision of the Nine or this Security Instrument unenforceable according !o its terms. Lender• at its ()pilot].
<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 in tilt: second paragraph 0f
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for ill this Security instrument ,hall be given by detivcring it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The nonce shall he directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be gtv'en by
<br />first class mail to Lender's address stated herein or anv other address Lcndcr designates by nonce 10 Borrower. any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or [ender when given as provided
<br />in this paragraph.
<br />1 15. Governing Law; Severability. This Security Instrument shall he governed by federal law, and life law of the
<br />jurisdiction in which the Property is located. In the event that any provision t clause tit this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Securty Instrunten! 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 declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed cop: of the Note and of !his Sccttruy in,t.!'umcnt.
<br />t' t7. Transfer 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 tit Burrower is sold or transferred and Borrower is 1101 a natural
<br />person) without Lender's prior written consent. Lender may, at its option, require unnledialc payment lit full of all sums
<br />secured by this Security Instrument. However, this option shall not be cxeicised by lender if exercise is Pn+luhiled he
<br />fcderal law as of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrower nonce of acceleration.'I he V101ICC shall prof ide a period
<br />of not less than 30 days front the date flit. notice is dehitered or mailed within which Borrower mist pay all ,mils secured M
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender ntay mt,tke any
<br />remedies permitted by this Security instrument without further notice or demand on Borrower.
<br />18. Borrower's Right to Reinstate. if Borrower meets certain conditions. Borrower ,hall hai.e the rig-hl to hate
<br />enforcement of this Security Instrument discontinued at any time Pnor to the earlier of Iai 5 claps (or wdt ,the, pcnod a,
<br />applicable law may specify for ronstatemenn before sale of the Property pursuant to anv power of ,!Ic cunt one f :it tilt,
<br />L 5ecurtty instruneru; or ib) entry of a iudgirtent enforcing this Security Instrument I ho,e ronchtions tic th tl B a titter
<br />(a) pays Lender all stints which then would he due under flit, Securty Inslruntenl end file Note had no ac, c1cr:uum
<br />ecttrred: (li) cures any default of anv ()Hier covenanu tit agoeemctir,: (et pays Al expCitsr, tncuirrd eft rot ti u!': Ihn
<br />Security Itt,trainCnl, indudutg• bill not hunted to, rea,cntahlc attorneys' Ice,, and lift rake, such .tenon Ili odor ❑rfv
<br />reasonably require to aswre That the hen of the Sceutny Iti,trunrut, Lcndcr', tight, m the 1't +tort ,tud BCl""vehv
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