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- 101398
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<br />1 If Lender required mortgage insurance a a condition of making the loan. secured Iiy -.his Security Instrument.
<br />Borrower shall pay the premiums required to maintain the insurance in effinn until such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and lender's wr ien 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 to an inspection specifying reasonable cause for the inspection.
<br />9. Caadeinnation. 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 Property. or for conveyance in lieu of condemnation. are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a tonal 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 Properte.
<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 f b) the fair market value of the Property immediate] 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 Secun.n Instrument, whether or not then due.
<br />Ltniess Lender and Borrower otherwise agree in writing, any application ofproceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and'_ or change the amount of such Payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment nr
<br />modification of amortization cif 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 am I demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by I.:ender 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. T-he covenants and agreements of
<br />this Security instrument shall bind and benefit the successors and assigns of Lender and Borrower, subJeci to the provisions
<br />of paragraph 17. &irrower's covenants and agreements shall be joins and several. Any Borrower who co -signs this Securiiy
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage. grant and conyet
<br />that Borrower's interest in the Property under the terms of this Security Instrument: (b) is not personally obligated to nay
<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 make any accommodations with regard h: the terms of this Security Instrunr•nt 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 Tither loan charges collected or TO be collected :n
<br />connection with the loan exceed the permitted limits, then: tai any such loan charge strail be reduced by the amount
<br />necessary to reduce the charge io 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 retund h-\ reducing the pnncipai owcd
<br />under the Note or by making a direct payment tin Borrower. If a refund reduces principal. the reduction wtil 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 apphcabie laws has the elect of
<br />renderingany provision ofihe Note or this Security Instrument unenforceahlc according to u, terms. Lender. at its opuoii.
<br />may require immediate payment in full of all sums secured by this Security Instrument and rnav Invoke any remedies
<br />permitted by paragraph l u II' Lender exercises this option. Lender ,hall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. 'Notices. Am notice ti, Borrower provided for iii thi, Security, Inslrnntetit shall he given by delivering It )Ti-,N
<br />mailing it by first class mail unless applicable law requires use of another method. The nuuce shall be directed to the
<br />Property Address or any other address Borrower designates by notice To Lender. Any nonce to Lender shall be given bi,
<br />first class mail to Lender',, address stated herein or arty other address Lender designate, by notice to Borrower. Am notice
<br />provided for in this Security Instrument shall he deemed to have been given it, Borrower or Lender when ciiert as prinided
<br />Iii !iris paragraph.
<br />15. Governing La%; Severability. This Security Instrument shall he _0`,erned h� federal law and a +;c law of the
<br />_jurisdiction in which the Prupert; is )ocaied. In the even: that any provision err clause of •his Security lnsirur cent or t=ee
<br />'rote conflicts with apphcabic law. such conflict shall not atTeci other pro,tsutris of ihn Security Instiunic•ui or the Nt-%
<br />which can be given efieei without the amflicung provision. TO tins end the pro.isums of ih:, SC:urit+ In,irumenl anu The
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall he given otir enrfi,rmed cop} 1)I ilie N,uc cute, :: I' Till, Securri•. in,ii UN! '111
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. 11 a'.' rr :iw. nart ,Yt the Pr,pc:i� or ai;,
<br />interest in it is sold or i ran,Serred i of d a howficial micro,, ;r; Burn +w er ;s ,olU 0! tour „e: n i and But racer ;, .:r a n;rt in ai
<br />persoro without Lender's prior written conscnl. Lender may. at its option, rc:uuirc uamc•d;ate pdy.neni It! full ,d ii ,uni>
<br />secured by this Security Insiruincni. H iwe +er. this !,pt itin shall Tim be r;,ci :,rd b} Lend!, ., .NCI il,l r, i 'hilhi Ted hi
<br />federal law as of !tie date .if this Securiiy Instrument.
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<br />If Lender cxernses this option. Lender shall give Borrflucr noiicc of JLLV1Vr :iIWn I he rn,nn ,ha11 Ids .r h;rn.d
<br />of nt,i less than 30 days from t he dale the nvtice to delitered �?r mailed ti, itinn w hich $or r,,w cr moot 1� -..111 ,u-iis — i,r ed h-,
<br />this. Security Instrunicnt. It Borrower iaiis to pay ihe.c :utns pnot t, i IhCC%P Irau„n ,d this ,. rn --d. 1 . er ran: !cols ::n.
<br />temndirs permitted h, ,jot Security Insi runictrt w ithout furibei ii „use cr, demand ;�n Borrtrwei
<br />i8. 1orrower's Right to Reinstate. if Borr,.Ywer rricets certain L:1 mdlIwNS H; I!—'. t 11., 11 h i the r III 1 r ii3.t
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