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S�- 102278
<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 mamta the insurance in effect until such time as the requirement for the
<br />m
<br />in accordance with Borrower' sand Lender's written agreement or applicable law.
<br />insurance terminates
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />8. inspection.
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />for damages, director consequential, in connection with
<br />9. Condemnation. The proceeds of any award or claim
<br />for conveyance in lieu of condemnation, are hereby
<br />any condemnation or other taking of any part of the Property, or
<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 />by this Security Instrument shall be reduced by
<br />unless Borrower and Lender otherwise agree in writing, the sums secures
<br />of the sums secured immediately
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount
<br />Property immediately before the taking. Any balance shall be
<br />before the taking, divided by (b) the fair market value of the
<br />paid to Borrower.
<br />is by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />If the Property abandoned
<br />an award or settle a claim for damages. Borrower fails to respond to Lender within 30 day's after the date the notice is
<br />make
<br />given. Lender is authorized tit 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 />in writing, any application of proceeds to principal shall not extend or
<br />Unless Lender and Borrower otherwise agree
<br />to in I and 2 or change the amount of such payments.
<br />postpone the due date of the monthly payments referred paragraphs
<br />Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />10.
<br />of the sums secured by this Security Instrument granted by Lender to an successor in
<br />modification of amortization
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower', successors in interest.
<br />to interest or refuse to extend time for
<br />Lender shall not be required to commence proceedings against any successor
<br />Security Instrument by reason of any demand made
<br />or otherwise modify amortization of the sums secured by this
<br />payment
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />,hail nett he a waiver of or preclude the exercise of any right or remedy.
<br />Bound; Joint and Several Liability; Co- signers. "Clio crnenants and agreements of
<br />11- Successors and Assigns
<br />this Security Instrument shall hind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />17 Borrower's covenants and agreements shall be joint and setcral. Any Borrower who co -signs this Security
<br />of paragraph
<br />instrument hilt doe, not execute the Note tat Is co- signing, this Security Instrument only to mortgage, grant and convey
<br />Borrower's unere,t in the Property under the terms of this Security lnstruinent ib) as not personally obligated to pay
<br />that
<br />secured by this Sectnny ]listrument: and (c) agrees thal Lender and any tether Borrower may agree to extend.
<br />the sums
<br />modify. forbear or make any acci)ri,nit- :,ations with regard To the terms tit this Security Instrument or the Note without
<br />that Borrower's t onscnt.
<br />12. Loan Charges. I1 the iilan secured by tills Srcuriry Instrument's ,uhlcct to a law which sets maximum loan
<br />charges. and that law a finally Interpreted so that the Interest or other loan charges collected or to he collected to
<br />connection with the loan exceed the pcirnmCd hnnh• then: (a) any such loan charge shall he reduced by the amount
<br />fn+m Borrower which exceeded
<br />nece,sary to reduce the charge ri the permitted limit, anti (h, any sums ahead\ _)bested
<br />limits yysll be refunded to Horruwer Lender ;n I\ .hoosc to rinks this refund h} rcducn'g the principal cowed
<br />permitted
<br />under the Note or by making a direct payment to Bitrrowrr lf:i refund rcdvices pnncll"al. the rrdui Unn will br treated as a
<br />partial prepayment without any prcpaytneni charge under the Nor.
<br />If r ex( Irvunl ; 1 appin.ihlc laws has the effect of
<br />13. Legislation Affecting Lender's Rights. cne--tirlent
<br />rendering any pmvis,on of the Nolte or this Securer\ Instrument unenf rce:Ihft ..etirdl to !r• Its tcrins, Lender, at its option,
<br />remedies
<br />may require immediate payment in full ill' all ,um, secured by tills Secuntt ln,lrurnenl ;ind may Iiltoke any
<br />raph of
<br />by 1 y. 11 l_encier exercises this option. I ender shall take the steps ,pccrfiecl In the second parr
<br />permitted paragraph
<br />paragraph 17-
<br />14. Notices. Airy notice to Borrower prticided till ui tilts Sccura} Instnnncnt ,hall he gltcn ht drhvermg It or he
<br />mailing it by first class marl unless applicable law requires use of another method The notice ,hall he directed to the
<br />to Lender ,hall he green by
<br />Property Address or any other address Borrower designate. by notice to Lender Any nonce
<br />first class mail to Lender's address stated herein or any oilier address Lcndcr design ;ties by notice to Borrower. Any nonce
<br />hen as
<br />for Security Instrument shall he deemed to have heel' gltcn to Borrower or 1 ender w given provided
<br />provided tit this
<br />ill this paragraph.
<br />15. Governing Law; Severability. Thu Secuniy Instranicnt hall ')c gotcrned by led- 3i law :ind the law of the
<br />in which the Property rs located. In the event that any protisiun or clause tit this Security Instrument or the
<br />junsdiction
<br />Note conFltets with applicable law, such conflict ,hall nor affect other protrvuns of tills SeculM 1- 11"Inent or tyre Not
<br />which can be gtten effect without the conflicting provision- To this end the provlsrori, of flip Security Instrument and the
<br />Note are declared to hc,etcrablc.
<br />16. Borrower's Copy. Borrower shall he green one conlilrrned ce +p} ottee late :uul elf tills S.cunty lnsirumeni
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pats it the Pmpc,ly or it"%
<br />In It 1, xtid or tran,fcrrcd (or it a beneficial interest in Borrower is sold or tran,fcrred and Borrower is not a natur:d
<br />Interest
<br />,rersonU wilfUtilt Lender's pn;,r written consent. Lertder Ina\, at Its upuon, rcyu'n unnlydlatc payment in full of all wn1,
<br />by Lender it excrclse t, pru)uhlted by
<br />secured hg tilt, ` %tLunty lnstrurnent. Ilowevef, this option shall nut hr cxelclsed
<br />lederal law as:11 the dale of this 5ccuril,, Instrument.
<br />If 1 thr, option, Lender shall gne Borrower notice of a,ccicration 1 he nnoce shieli pnn'Lie .i period
<br />ender cxcrciscs
<br />of rent I." than 30 days front the date the notice Is dehr cred or milled \viltin! which Bnrro\tei tnust pat ail ,kirns,ecurl -d ht
<br />!his Security }rrslrunleni 11 Borrower fails ro pay these still), prior lit IL•c cxpat:Innn t,1 1111'. pcn,+d, I rndcl Ili:n nnlde .tin
<br />runctlics pct nitted ily !his S<culM lmtrument wuhout further noticl ,r demand on Iiii, 1 t\\ t
<br />u,. BI in \tu sh ill licit tilt. lu,ht I" ills
<br />18 Borrowers Right to Reinstate. if B lrrowcr nreers ctrl tin Condit!,
<br />du h l ht I l"d
<br />b
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