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86 -. 101834
<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 Lender'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. Comdemnatioa. 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 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 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 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 Secunty 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 i he 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 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 />by this Security Instrument by reason of any demand made
<br />payment or otherwise modify amortization of the sums secured
<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 lnstrumcnt only to mortgage, grant and convey
<br />that Borrowers 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 />modify, forbear or make any accommodations with regard to the terms of this Security instrmncnt 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 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 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, tender. 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 be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. File notice shall be directed to the
<br />Property Address or any other address Borrower &signates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender'-, 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 I..aw; Severability. This Security Instrument shall he governed by federal law and the haw of the
<br />iurisdiction 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 .:ondict 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 sex erable.
<br />16. Borrower's Copy. &xrower shall he given one conformed copy of the 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 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 unmediate payment in full Of all sums
<br />secured by this Securit y Instrument. However, this option shall not he exercised by Lender if exercise is prohibited by
<br />federal law asofthedatcofthisSecunly Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. Thr notice shall pi,nide a period
<br />of mn less than 3f)days from the date the notice is dehxered or mailtd within which Borrower must pay all sums secured by
<br />tills Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender nl:ay irlvIikc any
<br />remedies permitted by this Sec unity Instrument without further nollce or deniand n Borrower.
<br />18. Borrower'v Right to Reinstate. If Borrower anti is certain omditions Bnri-ower Shall 11 are the Tight ,, bluer
<br />G,
<br />enforcement of this Security Instrument disc ootmued at any time prior to 111c e artier of t a) s days i it ueh oll a lw!lod .r.
<br />,
<br />applicable law may spC4:)fi' for remstatemeuti hefore sale t'f the Pralpe'riv pursuant le, all) I <, wel of '.ale: olll'tlllvd ill thl,.
<br />Seruray Instrument. or 0)) entry of a judgmem enforcing this Security Instrumnni i hose ::ondrrnals err that lt,,rrl wrr
<br />ill pays t. < -ndcr ill cum, which then would he title under Ihts Security Instrument and the Note had u, a ricrdn,!l
<br />r
<br />,,:,Ufr d: (hi ,ores dov default of .anv o!her c:lvenantS or agieenlents, (ri pay; .111 xpenseS mrurrcd m enfc lent, Ow,
<br />built, Irtsirsmcw, tnclu.',ing, but not llmlted lo, reasonable altornt Gc. and 1d! tikes'iKh 1,11 rmf,r n,ul
<br />rears., ^ :tt,!s r;luvc t,, acsurc sh:vt the Ilea I,f tills $ccurit% Instrurnrni, 1_:;1cVcr. n(zhl .r. I`;4 E'•op' -Tt• ...;I final =' sin'
<br />i ltrstl,•n =et Ih" MIMI Iecurr•d by 11w. Serur e h,clrvru.•r! .hall :c Tit :r.ch.u,.:: a i „ c ,,, Inn• n,
<br />Ek r:r•arr .I," `e, won: In l ,t,tzet and ,Le •,h}Ig a!Ians irl ur.. h.rcl c 1 ai: r - ^.r . * , t I! :a•i
<br />!has n}[hl !:, !r7a Slxt Hit. ',hall unl a;,p}} to Oil, .Ise • r ,'t I<`l:u, .- ..,!: -, , -, ��' -.
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