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86-- 102253
<br />1 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 Borrowers 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. Condemnation. 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 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 l 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 reason of am demand made
<br />by the original Borrower or Borrowers 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 Instrument only to mortgage, grant and comcy
<br />that Borrower's 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 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 which sets maximum loan
<br />charges. and that law 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 he 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 it
<br />partial prepayment without ant, 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 term., Lender, at its option,
<br />may require immediate payment in full of all suns secured lit, this Security Instrument and may invoke any remedies
<br />permitted by paragraph IQ. If Lender exercises this option, tender shall take the steps.pecitied in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for ui this Security Instrument shall be given by delivcnng it or by
<br />mailing it by first class mail unless applicable law requires use of another method The notice shall he directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any nonce 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 Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to hasc been given to Borrower or Lcnder when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. Thu Security Instrument shall he goserned by federal law and the law If the
<br />junsdiction 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 conflict shall not affect other provisions of this Security instrument or the Note
<br />which can he given effect without the conflicting provision. 10 this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one confornled copy 01'111C Note :aid of this Securny Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. ]f 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 />persont without Lender's prior written consent. Lender may, at its option. require immediate payment in full of Al sums
<br />secured by this Security Instrument. However, this option shall not be exetcscd by Lender If Cxcrclae is prohlblled by
<br />federal law as of thedateof this Securny Instrument.
<br />If Lcnder exercises this option, Lender shall gtye Borrower notice of acceleration. I lie notice shall pro\ Ide it period
<br />of not less than 30 days from the date the notice is delivered or mailed within vv hlch Bornlw cr niusl pay all sinus secured by
<br />this Securny Instrument. If Borrower fails u.) pay these sums prior to the cxptration ,ti tins period, I ender niay nivukr any
<br />remedies pernimcd by this Security Instrument without further nonce or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Boer suer shall h vc the ncait to hair
<br />enforcement of this Security histrunwilt discontinued al. any little prior to the c Irltcr .a 1.11 s via\ s i su, h otiu•t prino e1 =a1
<br />applicable law may specify for reutstalemcni i before sale of the Property purse uu I,' ar y lower oI -tit nri rt 1 111 till, 1
<br />Security itntnimem, or tb1 cure oia Itigmeni cnh rang This Security lnsuurn nt I c -111,111hln, Ire tai it B,'riow.l
<br />lal pays 1.cildcr all sums which thee: wuul I he disc under this `rant., hi,iTivncrit and ill,- \ le 11,1,1 no ,—A rs.,
<br />o,:cuar -,f. (ill itlreS arts lef:uill .I oty ; thee 11"Clianls to agicenic•nrs I, 1 Ill .,i ;) . r, i I ift cil 1,11 i flit, 3
<br />S -aunty lnart;tae :it ar.ladlll,4, but not 1111111 -1 Ili, irasonahic .at „rocs.' fees mid 11 I.,K.s —,h .1• ;wr I, 1 , ,,c! niav
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