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86-- 101056
<br />If Lender required mortgage insurance as a condition cif making the loan secured by this Se =•urity Instrument,
<br />Borrower shah pay the pryer--_-w% required to maintain the insurance in effect until such time as the requirement fix the
<br />insurance terminates in a�:cordancx with Borrowers and Lender's written agreement or applicable law.
<br />8. Imeection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at. the time of x prior to an inspection specifying reaxonable cause for the inspection.
<br />'. Condeni atiea. The proceeds of any award or claim for damages, director consequential, in connection with
<br />any condemnation or other taking of any part of the Propeny, 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 shat! 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 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 immediately 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 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Leader 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 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 Boned; 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. Borrowers covenants and agreements shall be joint and several. Any Borrower who co -signs i his 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 io pay
<br />the sums secured by this Security Instrument-. and (c) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or snake 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 secur,A 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
<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 he 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 Security Instrument shall he 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 Securny Instrument shall he goxerned b% federal law and the law of the
<br />jurisdiction in which the Property is looted. 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. Burrower shall be given one conformed copy of the Note and of this Security instrument.
<br />17. Tr'ander 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 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 option shall not he exercised b% Lender if exercise is pndlihned by
<br />federal law as of thedateof this ScLurity Instrument.
<br />If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall pro\ I& a period
<br />of ntx less than 30 days from the date the notice is dclitered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails set pay these sums prior to the expiration of till,, period, tender may myokc any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />is. Borrower's Right to Reinstate. If Borrower meets certain conditions, forrower shall have the right fo hate
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) hrforc wle of the Property pursuant to anN power of sale .ont nned in this
<br />Security Instrument: or (b) , mry of a )udgment enforcing this Sct urity lnarumero Those ondMons art that ) otn,wer.
<br />(a) pays L.cndcr all sums which then would ?x' due under this Secunt) Instrument and the Note had m .ic clrranoll
<br />occuitr , (h) cures any default of any tither .oirrtants or agrccmenl,,; (c) pays all extvnsos tnctured in enfr +rim, this
<br />4ccuruy Instrumeru, mduding;, but not lututed to. tea+orwhie attirtueys' fees. and (d) takes such action as Icndo mats
<br />rrasowibiy rciluorr err aasurc +hat the hen cif tills securct% Instrument, I :redo', rights sex the Propert� and Il,,rrower s
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<br />1 :1 wrcd lf;a. ihis .'ti; t <;rstat tihaii �O,t al p '11., 1 alc • ! .i.. .: e . 1
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