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86_ 102390
<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 tier 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. Condemnation. The proceeds of any award or claim for damages, director consequential, in connection w till
<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 he 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 Properly.
<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 imnlediateh
<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 thesumssecured 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_ 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 sum%'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 any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or rernedy
<br />shall not be a waiver ofor 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 I -ender and Borrower. subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall bejoint 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 under the terms of this Security Instrument: (b) is not personally obligated to pa)
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and arty other Borrower may agree to extend,
<br />modifv, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower'sconsent.
<br />12. Loan Charges. If the loan secureu 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 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 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 effect of
<br />rendering any provision of the Note or this Security Instrument uncnforceahle according to it, terns, 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 shal! take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in 1111S Security Instrument shall he given by deli,cring it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice ,hall he directed to the
<br />Property Address or any other address Borrower designates h) notice to Lender. Any notice to Lender Shall be given by
<br />first class mail to Lender's address slated 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 ul Borrower or lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. ('his Secunty Instrument ,hall he governed by federal hm and the law of the
<br />jurisdiction in which the Property is located. In the event that any pr(niswn or clausC of tilts Security Instrument or the
<br />Note conflicts with applicable law, such conflict ,half not affecl other provisions of Ibis Security Instrument or the Note
<br />which curl 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. Borrower shall he given one :otiforrned copy of the Note and of this Securuv instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. 11 all or an) part of the Propert) or an)
<br />interest in it is sold or transferred (or ifa beneficial interest ul Boi r(nyer 1, sold or transfei red atld Borio %%er is not a Ilatural
<br />person) without Lender's prior written consent, Lender Ilia), at its option, require inunedialc payment in full of ail sums
<br />secured by this Security instrument. However, this option , hill not be exercisCd h) I.ClldCr if CxerClse 1s pn,luhiled by
<br />federal law as of the date of this Security instrument.
<br />If Lender exercises, his option, Lender shall give Borrower not of acceleration. ThC nutire,hall provide a period
<br />ofnul less than 30 days front the date the notice is delivered or mauled within which Borrower must pay all sums Secured hl
<br />!his Security Instrument. if Borrower fails to pay these won prim to the expiration ul lhu period, 1 CndCr may mvoke any
<br />remedies permitted by this Security Ilist rument without ftriller not ill' Or den land (lit Borrim el.
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower ,hall h:nC the right to hinc
<br />enforcement of this Security hlstnu lent discontinued at any ante pn for to the earlier of (;t) - ;lay, (ur such otlici pctiod :I,
<br />law
<br />applicable may specify tier reinstaicnn 1,t) before sale of the Property pursuant to tin) power of ,i& cnnl,uned in till,
<br />Secunty instrument, or (h) entry of a lodgment enforcing Iles Secant) In,tru Inc nl 1 host u+ndItual, .1,c IIt aI Born suer
<br />(a) pays Lender all sum, witch then would he due under till, Secunty Instrumwnt and the Note had n., a cleyotwn
<br />sx•cuned. Ill) cures any tiefaull of alt_, other covenants it agreen+eur (e) pays all capon , in, Lit e•d In cnf r rllg III!,
<br />h,
<br />Sccurily Irt,lrllinew. 111chldlnt;. but not Booted ill. rrasutuahlC.ntorne%, 'c,,, and (d) 1;tkc, ue?t 1,. 11,111 :is I (.1nict tray
<br />te;n,+tahl) tequte in assurC !hat the hen of IhiS SCUlnty 111NMInient. Lcnd,:r', nghl, of Ill, 1'IOperly 11,11 lit'? 11
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