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86- 101828
<br />If Lender required mortgage insurance as a condition of making the lean 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 />S. latsWtion. 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 Tecifying reasonable cause for the inspection.
<br />for damages, director consequential, to connection with
<br />9. Condemnation. The proceeds of any award or claim
<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 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 4 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: tai the toed 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 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 reasoln of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender to 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 Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property the terms of this Security Instrument: (b) is not personally obligated to pay
<br />under
<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- 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 winch sets in axiinuln 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 (h) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may chtxlse to make this refund by reducing the principal owed
<br />under the !vote or by making a direct payment to Borrower. If a refund reduces principal, the reduction will he treated as it
<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 effecl of
<br />rendering any provision of the Note or this Security Instrument unenforceable according u1 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 f7.
<br />14. Notices. Any notice to Borrower provided for in this Sec unty instrument shall he given by deliveri ng 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 designate, 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 he gtlyerned by federal law and the law of the
<br />jurisdiction in which the Property is located. In the went 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 />To the of this Security Instrunlent and the
<br />which call be given effect without the conflwting provision. this end provisions
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of Ibis Security instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. It all or any Part of the Property or ;toy
<br />interest in it is sold or transferred (or if a beneficial interest tit 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 iinmrdiate payment ul full of all sums
<br />secured by this Security Instrument. However, this option shall not he exercised by Lender it exercise is pr,llubited by
<br />federal Law as of the date cif this Sctiurity Instrument.
<br />If Ixnder exerctses this option, Lender shall g,-,e Burrower notice of acceleration. I he notice shall provide a period
<br />of not less than 30da)s froth the date the notice is delivered or marled within which Borrower must pay all su111. sectored by
<br />this Security Instrument. If Borrower fails to pay these sums prior tit the expiration of this pertl,d. Lender !nay invoke any
<br />remedies permitted by this Sccunty instrument without further notice or demand on Borrower.
<br />I@. Borrower's Riot to Reinstate. If Borrower inecis certain conditions, Burrower shall have the right to have
<br />enfomernent of this Security Instrument dtscontmtied at any time prior to the earlier of. (:1) 5 d tys for such other period as
<br />Lapplicable law may sprclfy for retnstatrmeftt i bkforc sale of the Property pursu ant to any p wer ;0 sate contained in this
<br />Security lnstrutnerlr, of (bl entry of a judgment enforcing this Security hrslrtfment Those o m!;tiwi, aft that Borrower
<br />(a) pays Lender all suns which there would be due under till Security Instrunlent .1rd :he Note had no acodelallon
<br />t*-
<br />occurred, (bi art's Tony default of any tither l'ovolaflts or 11.,f t'C.Jrl Clltti tl.) plays Al %\1h1i K's 1t14lil red Ill glob 1 -Ing this
<br />sccutety I"tru7rrcnt, .7,Judrng, btit nit limited it, reasonable itiorntt♦ fete+, and (01 fat c' 1U:) 30101; ,1' 1 l.l.:l <S 11111%
<br />r'c,fsentatrlk rr4utrc I- fissure that the hen of this soccufo.t InStrumertt, L.endei's rights Ui iht' V-t-l% .11 i III -TOV,0
<br />ttrgat,�a: : • pa? ;hc .'ulna sec:urcJ bt th +x Srtur;ts Im!Tutnent saa_t —Io e u� he
<br />li or r, +wet. it: > : >rta 6 :!.rtun�ent „told the i,( +it at ca .cc :e at heron* gall ten,.,v, till" '1!;-., '1- i rr.tu,, :1 lo_aol
<br />.. _� , ,Il )t `.�.' <`r. i1 ., [1k }, ... _11i1'I.�i� `1831 ni,� 4j i.. _t .S ♦1' i i', z. _, !1� iii.. oleo ., f,l ..
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