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86-- 102581
<br />If Lender required mortgage insurance as a condition of making the Ivan secured by this Security Instrument.
<br />Borrower shall pay the prentiunts required it) maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrowei i,.nd Lender's written agreement or applicable law.
<br />S. Inspection. Lender or its ageni mar make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior loan inspection sN ifying reasonable cause for the inspectirtr•..
<br />9. Condemnation. Che proceeds of any award or c.latnt for damages, direct or consequential, in connection midi
<br />any condemnation or other taking of any part of the Pretfrerty. or for conveyance in lieu of condemnation, are hereby
<br />assigned anti shall be paid to Lender,
<br />in the event of a total raking of the i'rnperty, the pn,y,_cds ha11 he applied to the unis secured by this Securny
<br />Instrument, whether or not then due. with any cxcess paid t, Beonower. In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise agree in writing, the ,u;ns secures by this Securny Instrument s }tali be reduced by
<br />the amount of the proceeds multiplied by file following fiseuon: (al the total amount of the runts secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediateh before the taking. Any balance shall he
<br />paid to Borrower
<br />If the Property :s 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 awhonzcKl to collect and apply the proceeds, at fir 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 data of the monthly payments referred tom paragraphs I 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 sums secured by this Security Instrument granted by Lender io any successor in
<br />interest of Borrower shall not operate to release the liability of the original } Borrower or Borrower's successors ui interest.
<br />Lender shall not he required to commence proceedings against any successor to interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured b% this Security Instrument by reason of any demand made
<br />by the original Borrower or Ifdarrower's successors in interest Any forbearance by Lender in exercising any right or remedy
<br />shall not be a waiver ofor preclude the c%ercise of any right or remedy.
<br />11. Successors and .Assigns Bound; Joint and Several Liability; Co- signers. Tire co%enanis and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Burrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower w his co -signs r
<br />ns this Secity
<br />Instrument hilt 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. fbl is not personally , hhgated to pay
<br />the %arts secured by this Secuni% instrument: and (c) arrecs that Lender and any ,ether Borrower may agree to extend.
<br />modify, forbear or make any ai'COulmodations with regard u, the terms of rhis Security instrument or file Note without
<br />that Borrower'sconscm.
<br />12. Loan Charges. If the .,an secured by this Security Instrument is subject ro a law which sets niaxunmn lo:ul
<br />charges, and that law is finally tnterpreted sea that the merest or other loam :harges collected it [o he collected in
<br />connection with the loan exceed the p ermated limits, then (a) :ar•,% such loan charge ,11.111 he rcduced ht [he arnount
<br />necessary to reduce the charge in the permitted limit: and (b) any suns already collected from Borrower which exceeded
<br />Permitted hmtls will be refunded to Borrower Lender may choose to make this refund by teducuig the principal owed
<br />tinder the Note or by making a direct payment to fj,irrower If a refund reduces principal. the reducnon will he treated as a
<br />partial prepayment without any Prepayment chargc under the Now
<br />13. Legislation .Affecting Lender's Rights. if enactment or cxpirafwn of applicable laws has the effect (if
<br />rendering any provision of the Note or this Security Instrument UuCutorceabic acc ,rding toy ifs terms. I cnder..o its option,
<br />may require immediate payment in full of all Burns secured I,% this Security histrurncnt end may invoke any remedies
<br />permitted by paragraph 19 If Lender exercises this option. Lcnder shall take the steps specified in the second paragraph of
<br />paragraph I
<br />14. Notices. Any notice to Borrowcr provided for nt this Security Instrument shall he green by delnenng It or by
<br />mailing it by first class mail unless applicable law requires use of another method The nonce shall be directed to file
<br />Property Address or any other address Br)rrotyer designates h-. notice it) Lender Any nonce to Lender shall be given by
<br />first class mail to Lender's address stated herein or a .% tither address Lender dc%ivnatcs by nonce to Borrower. Any notice
<br />provided for tit this Security Instrument shall be deemed it) have heen got en in Borrower yr Lender "hen given as provided
<br />in this paragraph.
<br />15. Governing Law. Severabitity. Chu Security lustrunieni Shall he 2101crned h% federal law and the Lm of the
<br />jurisdiction in which the Property is fixated- In the etew that any provision or clause of this Security Instrument or the
<br />Note contlicis with applicable law, such conflict shall not affect other pro%isitun of this Security In,trumcnt or the Note
<br />whtch can be given effect without file conflicting pr0%hlon To this end the pro%isions of this Securny Instrument and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy. Bortowei shall he `ii,cn one oonfi,rmed copy if :he Ni,rc and of this Secunn In%trunwni
<br />17. Transfer of the Property ur a Ileneticiai Interest in Borrower. L ,oil tit any part of the Property or an
<br />interest in it is sold or transferred for if a beneficial interest in Bcirniwei is sold or it an%fcrred and Borrower is i ,t a natural
<br />person) without Lender's prior written consent. Lender may, at it, option, require unr iedtatc payrnent in lull of all sums
<br />secured by this Security instrument. lloweyer. this ollfwn '11,111 not he cxciosed h% Lender if cticiow is pi,rhibiled hr
<br />federal law as of the date of this Security Instrument.
<br />If Lend••r exercises ihis option, Lender shall give Borrower nonce oof acceleration hhc m-itce shall IlTm tdc a period
<br />of not less than 30days from the date the n oitce is deli%errd or marled wnhin t%h0i Boa row ci must pay all Bunn secured by
<br />rho Security Instrument If Borrower fail, to pay these aims prior to the expiration off this pennd. I endet may nno,ke .:m
<br />remedii s permitted by this Security Instrument without fuiiher notice or demand on Borrower
<br />18. Borrower's Right to Reinstate. if Borrower meets certain :on,imoris, Horriwei shall had:: the nght w ha,c
<br />entor entcnt of this Security 1n in Went dnlOfitmilLd at any time prior lo the c•ar rc r ,i (u dos (o i suit h 001 11 1,mod :,,
<br />L applicahle law may s1wcify b:r r xraterncni i hef orc sale of the Property pururuu u;y power o r ,,, 11 r i t m [hr,
<br />Security Instrument, or sill rot % of a judgment enforcing; !his Sc.unty In,tra nc.a I ho". o lldmorl, ,nr ih.er !L„rrnitet
<br />!al pays Lcndcr all sums whte}t theta would jx due kinder Nu, Securw. lti,trumrni ,did the `oic had r;...nor!cian: n
<br />:stirred, (hj :tire, any alrt'ault of anry other raiaaiaut, ,,r agtmnicrits rot pis%, .ill r%px•n,e, mcutrcd i. ;Wi,r%inr thi,
<br />wt:ttrl:y Instr moil, r ludaq but vol hinOCLI 1, e au,nehie -Worni i ,s i tit o t` took., 'u' 11 1,110:1 .n I cndc e n ar
<br />reM>nabty .v t.ti.e i 4s;%i ;r,: 'halt .fhc lttr oi this *,runt% Insirurttint, 1 cr:o;cr ugh', , : ;hr P•.q,cr ±y ui,i linos, %iii
<br />pa khe ,unis ,._ utcot `•,y this Scettru% Instrunxni .)rail
<br />i,wmm na :i n+..•Cj .. ,r.. ,,. ..t:., ... ,i. i.
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