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<br />86-- 102588
<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 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 pnor to an inspection spccifymg reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or clattn for damages, director 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 />assizned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceed, shall be applied w 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 Gender 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) t:,.e rotal 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 />M. tpone the due date of the monthly payments referred to in paragraphs t 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 or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shah 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 Burns 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 remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements o;
<br />this Security Instrument shali 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 be)oint 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 pay
<br />the sums secured by this Secunty 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 Instrument or the Note without
<br />that Borrower's consent
<br />12. Loan Charges, if the loan secured by this Security Instrument is subject to a law which sets maximcrn loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to be 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 reduce, principal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the tiote
<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 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 remedies
<br />permitted by paragraph 19 If Lender exercises this option. fender shall take the steps specified in the second paragraph of
<br />paragraph t7
<br />14. Notices. Any notice to Borrower provided for m ihis Security lustrumeni shall 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 be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender Any notice to Lender shall he given by
<br />first class mail 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 Borrower or I ender when given as provided
<br />in this paragraph.
<br />15. Gnvnrn ;ng Law; Severability. This Secunt: Instrument shall be governed b) federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Secunt) Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect ocher provisions of this Security Instrument or the Note
<br />which can be given effect without the :onflicting provision I'o this end the provisions of this Security instrument and the
<br />Note are declared to be severable
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the 's,.te and of tfit% Security Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If ,11 or any part of the Property or any
<br />interest in it is sold or transferred tar ifa beneficial interest iii Borrower is soid or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option ,hall not he exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument
<br />If Lender exercises, this option. Lender shall give Borrower notice of acceleration J he notice shall provicie a period
<br />of not Iess than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums Prior to the expiration of this period. Lender may mvoke anq
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower
<br />III. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time pnor to the earlier of tat 5 days for such other perind as
<br />applicable law may specify for rrmn tmemcnn het =ire sa)c of the Pn;ipr:ty pursu;nii to any power of sale :ontatnrii in this
<br />Secunt, instrument, or (h) entry of a,ludgmeitt entcircing tl h Su tiny Instrumuni i'ho c runcfitiOn', air t)rtt Borrower
<br />fill pay; t Crider ail sums which then would tv due under ,iii, Seitinry instr un rot .nisi he time had nr ,:celeraimn
<br />cx air ed_ t?) ufc, :any 4efauit of an, ,thcr rcnenants ru l� i hays 111 rtipemss n.uired .n eihxcing this
<br />?ic i!us ln.tran,ent. + iduding.'±ut not bmtted to, reasonable :ni t.,r r!._s tar,. and +di take ..,.ii ac.r*n a• I ender ,0,
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