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86- 100969
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />I Borrower shall pay the premiums required io 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 loan inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection we
<br />any condemnation or other taking of any part of the Property. or for con%eyance in lieu of condemnation, are hereby
<br />assigned and shall he 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, she sums secured by this Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: tat the total amount of the stints secured immediately
<br />before the taking, divided by (h) the fair market %Blue of the Property immediately before the taking. Any balance shall he
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after nonce 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 />ut 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 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 Burns secured by this Security instrument granted by Lender io 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 oft he 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 cotenants 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 he 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 convoy
<br />that Borrower's interest tit 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 let agrees that Lender and any other Borrower may agree in extend,
<br />modify, forbear or make any accommodations with regard u) the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If tht loan secured by this Security Instrument is subject to a lain ufiich sets ntaxmtuntt loan
<br />charges, and that 1•aw is finally interpreted so that the interest or other loan charges collected or to he 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 may choose to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment io 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 In it, terms. Lender, at its option,
<br />may require immediate payment tit full of all sums secured by this Security Instrument and may ntoke any remedies
<br />permitted by paragraph 19. if !.ender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. An% nonce to Borrower pros ided for tit this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mall unless applicable tau reyuurch use of another method. The notice shall be directed to the
<br />Property Address or any tither address Borrower designates by notice to Lender. Any notice to Lender shall he given by
<br />first class mail to Lender's address stated herein or any other address lender designates by notice to Burrower. 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 Security instrument shall he r:uverned by federal lain and tilt law of the
<br />jurisdiction in which the Property is located. in the «tent 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 Securnt% instrument or the Note
<br />%tu- h can be given effect without the conflicting pro —ton. rci this end the prottstuns of this Security Instrument and the
<br />Note are declared to he se%erable.
<br />16. Borrower's Copy. Born,wer shall he given one conformed copy of the Note and of ibis Security Instrument.
<br />17, Transfer of the Property or a Beneficial Interest in Borrower. 11 all or any part of the Property or any
<br />interest in it is u?Id or transferred (or if a beneficial interest tit Borrowcr is wld or transferred and Borruucr is not a natural
<br />person) urthout Lender's prior vyntlen consent, Lender rnay, at its option, require nnntcdiale payment in full of all sums
<br />secured by this Security Instrument. Roucvrr, this option shall not he cxciciscd by Lender if enercise is pmhihiied ht
<br />federal lath asofthe date ofthis Security Instrument.
<br />if Lender exercises this option, Lender shall gnc liorroucr notice of acceierauon The notice shall In ro. tde period
<br />A not less than ?(1 dal s from she date the notice is dclnercd or mailed unhin which Borruucr nsust pay' all skirt „,ccuresi by
<br />this Security Instrument. If Borrower fails io pay Ihe.e suns pour to the cspiratiin u1 thn period, Lender anal, sn +okc any
<br />remedies permitted by this Security Instrument without further notice or demand on Borruucr.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrowcr ,hall have the ri 'Ou to have
<br />ienforcrmcru uftttis Securit% Instrument dixunUnued at sin t!rne poor u, the e•enccr o,l (s) � day s for such nthci ilk 11111J a,
<br />applicable taw niay specth for tUn,t:tcnieni t heforc sale of the Pr+ pert) pursuant to .alt ;inner + l S�slc cant ono 1 n+ 11111
<br />Sccurity Instrmttcni: or Ill critirl, 11l a juslt,monr enf n niz ti s sec tit. Instrument 1 Condo n. tic 01 ,11 B .r•u e,
<br />ai rr<n, Iendet dl sums which then u,aald he du. un ler [it, Securit} Instrument .Ind .hc \, tc it d rn ui +m
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