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F 86, 102386
<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 tine
<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. Condemnation. The proceeds orally 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 app'tied 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 he 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 I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Fotbearance 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 anc 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 any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearatwe by Lender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise orally 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 bejoint and several. Any Borrower vvho 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 under the terms of this Security instrument: (b) is not personally obligated to pay
<br />the suns 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 FINMIMcu or the Note: without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject io a law which set:, rnaximurn loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or no he 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. Ifa refund reduces principal, the reduction will 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 applicable laws has the etl'ect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to 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 rernedics
<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 hall be given by delivering 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 notice to lender shall be given by
<br />first class mail to Lender's address stated herein orally 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 Law; Severability. This Security Instrument shall he go%crned by federal law and the 1:!w of the
<br />jurisdiction in which the Property is located. [n the event that any provision or clause of this Security Insirurnent or the
<br />'Vote conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or the Note
<br />which can be given effect without the conflicting provision. ro this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrtn%er shall he given one conformed copy of the Note.i rid o f t his Security Instr a lent.
<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 it natural
<br />person) without Lender's prior written consent, Lender ma), at its option, require immediate payment in full of ,ill sums
<br />secured by this Security Instrument. Ilowc%er. this option shall not be excicised by Lender if exercise is pn,hrbiied by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of accclerauon. '1 lie notice shall provide a penod
<br />of not less than 30 days front the date the notice is delivered or mailed %%ithin which Borrower must pay all ,urns secured by
<br />this Security Instrument. If Borrower fails to pay these suns prior to the cxpiraunn of this period. Lender slay iu%okc ;!ny
<br />remedies permitted by this Security Instrument without further notice or demand tin Borrovrcr.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Horrower shall have the right b, ha%c
<br />enforcement of this Security Instrument discontinued at anti time prior to the carnet of. la) ` (1,1\. , f or such other period a,
<br />L applicable iaw inay specify fur reimtatemcnt I before sale of the Property pursuant to any power r,atanmd u, Ili,
<br />Security I tilt rurnenL: ur (b) entry of a tudgntent enforcing this ScctmI.\ histntrnenl Thtile cononio n, arc Iliac IirnnowcI
<br />(a) pay, i_endcr all stints which then would he due tinder this Set-mov In,trtnnent and the Note liad nn ❑v�rlo eau :,r n.
<br />occurred: ib) cure, luny default of ant other covenant of agreement,, (,, )pay, ;ill cvpcmes incurred n! (nfvcni)e Ili,
<br />Sccunty In,tlllmt'llt, inrludiog, bill not hlltliCd to, reasonable attorney,' foe,. and id) takes such ac non a, I -ti&T ui,rt
<br />rcasone. Iv re: utre t atone Thal the ;ten , I till, Securty ln,trunwo :. Lrndcr\ .t h;, ru the Pro
<br />h 1 , r g hen% .ui.i li „ii,•t,, ;,
<br />„blig ;Una, t„ tat. the ,gin. ,,:cure,! h% the, Srcunt% In,trinncnr ,hall ” "winuc till, and t 1„ai
<br />lir�n,w :�,,t1.i,h :caniy In,trura:•n, :rid the :N.ht ;tcm„c;:utcti Itrr :•tr_%.n.ii!—mmli lull•, rtl,_, ,..,. , n,,i.,, ,.i.
<br />liflhl ! u„Ltt: ,I.,tlt, "1 1ppi,, nt 01'.t „t , ll, i nn,l: i I'.0 i.i ^L, ! ,a
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