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8s-- 100879
<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 txnder's written agreement or applicable law.
<br />8. 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. Condnpnation. 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 rota] taking of the Property, the proceeds shall be applied io 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 total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immcc'iately before the taking. Any balance shall he
<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 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 amortization of the sums secured by this Security Instrument by reason n1'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. 'Tile 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
<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 />mortify, forbear or make any accommodations with regard to the terms of this Security instrument or the Note without
<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 b, 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 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 lit 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 Security Instrument shall Ito 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 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 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 Law; 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 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 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 he given one conformed copy o f f he Note and of this Security Instrument.
<br />17. 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 be interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender' prior written consent, Lender may. at its option. require immediate p:q nett in full of all sums
<br />s
<br />secured by this Security Instrument. However, this option shall not tie 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 notice of acceleration. The notice shall provide, period
<br />of not less than 30 days front the date the notice is delivered or mailed within which Borrower must pay all sums 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 have the right to have
<br />enforcement of this Security instrument discontinued at any time prior pa the earlier of (a) 5 clays for such other period as
<br />applicable law may specify for reinstatement! hetitre sale of the Property pursuant to :any power of sale contained un this
<br />Security Instrument: nr (b1 entry of it judgment enforcing this Security Instrument. 'I hose conditions .tire that Bnrrowcr.
<br />(a) pays Lender all sums which that would he due under tilt, Security Instrument and the Note had no acceler;tuon
<br />><clurred; (t'1 cures stay default of any other covenants or agreement; (c) pays all expenses incurred ill enG maul It'll
<br />Seemly 111%,rulllenL including, but not limited to, teasianable atnnneys' fees; and id) take, such arur,n a, 1 -ruder stay
<br />reaaoilably require hr assuse: that the Itch -,I tilt, Security ITNIllinclll, Lender", flgllls a the pr ,pert} :evil Botrrwcr s
<br />Oil Igalik:,II t.l p; +s e P" pro rcnrot_ncnirnt hs
<br />the slmas srcoare¢1 tat slits Secunty Ltstrurnettt 'hall a!1 ..+r.tnnir uu� ran I t
<br />fie- rf_nwer, ttu tieLurt s Ira,arnrncnl acrd alit ,,bhgatu+ns wcurcd herehs shill ,r n un Lilt' ctb. Luc i it n,, .n r'sr atn,n li:id
<br />h: once] l lrwrtic' all. , nt,hl r., retna oc shall not apply to rile case,, a . _ .a,r c. awdt-i t o t •oath I t 1
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