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86- 102583
<br />If t..cnotcr required) mortgage insurance as a condition of making the loan secured by this Scrnrlt }' Instrument,
<br />Borrower shalt pay the Premiums required to maintain the insurance In effect until such tune as the requirement for the
<br />Insurance terminates ui a;:eordancc with Borrower's and Lendei s written agreement or applicable law.
<br />11. IM'eetim, Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower nottee at the time of or prior to an'inspe,-tion Specifying reasonable cause for the inspection.
<br />9. Condennuttion. The proceeds of any award or c:'rim 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 -,:hall 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 Property,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this. Security lnstrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: 00 the total amount of the sums secured ilnmcdiately
<br />before the taking, divided by (h) 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 u, Borrower that the condemnor offers to
<br />make an award or Settle a claim for damages. Borrower fails to respond to Lender wit tun 30 days after the date the notice is
<br />given. Lender is authorizi:d to collect and apply the proceeds. at its option, either to restor::tion or repair of the Property or
<br />to the sums %ecured by this Security lnstrument. whether or not then due.
<br />Unless Lender arid 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 of
<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 any demand made
<br />by the original Borrower or Borrow'er's successors in interest. Any forbearance by lender in exercising any right or remedy
<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 render and &orrovver, subject to the provisions
<br />of paragraph 17. &grower's covenants and agreements shall he joint and several. Any Borrower %% ho co -signs this Security
<br />instrumem but does not execute the Note. (a) is co- signing this Security Instrument only to mortgage. grant and comvey
<br />that Borrower's interest I the Property under the terms of this Set -urn) Instrument: (b) is not personally obligated to pay
<br />the sums secured by this Sei-mity Instrument, and (c) agici:% that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Sccurrty Instrument or the Note wiihout
<br />a
<br />that Borrower'% consent_
<br />12. Loan Charges. If the loan secured by this Security 111% 11 It its subject 10 a law which sets n1aXl III u111 loan
<br />charges• and that law is finally interpreted so that the interest of other loan _harfes collected nr to he collected In
<br />connection with the horn exceed the permitted limits, them (a) any such loan charge shall he reduced by the amount
<br />neccswry to reduce the charge to the permitted limit: and (bi any sums already collected front 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 redu::es principal, the reduction will Iu treated as a
<br />partial prepayment without any prepay nient charge under the Note.
<br />13. Legislation Affecting Lender's Rights, if enactment or csp[r Lion of applicable laws has the effect of
<br />rendering any provision of the dote or this Security instrument unenforceahlc according to Its tcrrns. Lender• at its optnn.
<br />may require immediate pay "ment tit fall of all sums .ecured by this Security Instrument and may Invoke any remedies
<br />permitted by paragraph 14 If Lender exercises this opt ton. Lender shall take the steps specified In the second paragraph of
<br />paragraph 17.
<br />14. 'Notices. Arty notice to Bornnxer provided for In this Secant} Instrument shah he gleeri by delrvcrutg it or by
<br />mailing it by first class matt unless applicable law regimes use of another method. i he notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender Any nonce to Lender shall be given by
<br />first class mad 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 have been given to 11,mower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law: Severability. This Security Insirtunem small he governed by Iederal law and the law tit the
<br />jurisdiction ur which the Property Is loc,atcd. in the event that any prot[swn or clause l,t 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 be given effect without the conflicting provision. ro this end the nrov "isuau of this Security Ins[nunciii and the
<br />Notc are declared to he severuhlc•.
<br />16. Borrower's Copy. Bmroucr shall be given One conf firmed ropy of the Note ..nd of this Security Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if all or ass part of the• Property or arty
<br />interest lit it is Sold or transferred for Jo- txneficial interest in Borrower Is sold or transferred and Borrower Is not a I miurrl
<br />person) without Lender's prior writ ten consent. Lender may. at its option, require Immediate payment tit full of .dl sums
<br />secured by this Security Instrument However, this option shall not he cxcieacd ht Lender if exercise Is piohlhited by
<br />federal law as of the date =}f this Security Instrument.
<br />If Lender exercises this option. Lender shall give llorroacr nnticc of acceleration 7 he nonce shall pro\ Idc ,t period
<br />of not loss than 30days from the date the notice a delivered or mauled w "thin which Ilormw cr mist pay all sums .cctired hs
<br />this Security Instrument If B(urowcr fails to pay these sums piwr to the cxplrarwri of this pri iod• I ender mas Im oke ar '
<br />rcrrwdid=s permitted by this Sn:unty Instrument without further notice or demand on Borrowcl
<br />111. Borrower's Right to Rtinstate. if lkurower meets certain con(bhons, Hotrowcr shall have the right u1 havc
<br />enforcement of this Svturny lnstrument &,,conr.ntrcd at any time poor to the earlier of to 1 s days (1•r'11 1 .11her ;cored .1s
<br />applicable law nta% speafy for remstatcmcnrt Ix:fcre sale .,f the 1'toperis putsuturt u, Ally ,n. el 01 sale• LI•nt.OiWli Ill :h,s
<br />Security ItIvIrtiment: Or it )) Clary +?f ajutjpnlent cnforalg itl! \....; !i'r in' ?turncnt fhose Condition, 11-, that Horrot%t
<br />ta) pays L`ndcr ill slims %%ic'h the;; w'r +till tis [ht li.dl'r 111-1 and fhl Note hid tl.' t tlt'ali tl
<br />Ciccutt.d, tht iture,,:mv defaU11 t,f any �I'ith f 3i 'I1 lnt1 i�r rl f,F rIa111!\ (i) p:f1� .dl \Ik'n K'� Ili lifrl "1 n <! +[ 114 I11),
<br />irt1¢y fn'rSt Filtt7erll. ii Lkld,.11L 11141 iwt hmited :- , P{a"'fiJt'.e arlorn,aI, i1, and 10) fist Isis �.� ;1 ,.ail n'a`" I split 11111\
<br />r
<br />n'e¢re:�vrrahlY' regltirl. l't'o's"te Itlat the 1;,n9 f ,1„•1'rccL'. "12\ Instrument. I -cndvr s nH ;ills n 'hi
<br />sh�rt,,Yn tc s;1, .he 'ilm, - CLuts°d tn, this 5esu -it} lrrttr,,.ucn, ,hall „•':I,nue :'„s'i.ingc,l I [.,.
<br />B01rt,Avj Oil, `to--.rtrtry Pu;wtr,•;t told Ow 441getl "11 =ttllrcil ^°R1d:11
<br />a .7d 1110 tl. w '+c.," the. •t8jil i, rI il!:O 00; 1101 t.t,t: ;n :It, 1 ., ...1 ; t .t...
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