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If Lender required mortgage insurance as a condition of making the loan secured by this ens,
<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 />3. 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 inspa lion.
<br />9. Condewnation. 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 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 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 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 aftr -r 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 />in of to principal shall not extend or
<br />Unless Lender and Borrower otherwise agree writing, any application proceeds
<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 interest or refuse to extend time for
<br />payment or otherwise modify amortizdtion 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, 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
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<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 lnstrument; and (c) agrees that Lender and any other Borrower may agree to extend,
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<br />modify, forbear or make any accommodations with regard to the terms of this Security instrument or the Note without
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<br />that Borrower's consent.
<br />12. Loan 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 be reduced by the amount
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<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 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 a
<br />partial prepayment without any prepayment charge under the 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 19. 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 Secunty Instrument shall be given by 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 by notice io Lender .4ny 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 to Borrower. Any notice
<br />provided for in this Security Instrument shall he deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing law; Severability. This Secunty' Instrument shall be go%erned by federal law and the law of the
<br />iurisdiction in which the Property is located. in the event that any provision or clause of !his Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting prnision. 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 green one conformed copy of the Note and of this Security instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If Al or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower to 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 set full of all sums
<br />secured by this Security instrument. However, this option shall not he exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower nonce of acceleration. The notice shall provide d period
<br />of not less than 30days from the date the notice is delivered or matted within which Borrower must pay all Burns secured by
<br />this Security instrument. If Borrower 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 />18. Borrower's Right to Reinstate. If Borrower meets certain conditions Borrower shall hasc the right to have
<br />enforcement of this Security Instrument disc ontinued at any time prior to the carder of (a) S days (or such other period as
<br />aphlit able law may specify for retnstatemert) ortore sale of the Property puasuant r, any p ,wee of .ale com wined in this
<br />Security Instrum nt. or ib) entry of a tudgment enforcing this Security Insrument 1-hose conclitions air that Borrower
<br />iii) pays Lt!nder all sums ahich then would he due wader this Security Instrureni and the Notc haet no ac 'rlerauon
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