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102983
<br />i 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 />A. Inspection. Lender or its agent may make reasonable entries ur;l and inspections of the Property. Lender
<br />shall give Borrower nolite afthe timeofor;prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any 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 shalt 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 Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the ;ota1 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 faits 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 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 or
<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 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 ofany 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 be joint 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 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 Instrument or the Note without
<br />that Borrowers consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to it lio% which sets maximum 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 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 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, Lender shall trike the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall he given by delivering it or by
<br />mailing it by first class mad 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 be 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 Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall be governed by federal law and the fitw of tine
<br />jurisdiction in which the Property is located. In the event that any provision or clause of 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. To 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 conformed copy of the Note and oft his Security 1 n%trunurnl.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or am
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower a not it 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 shall not be excicised 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. The notice shall pro%ide it period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all vents secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may nooke any
<br />remedies permitted by this Security Instrument without further notice or demand tin Burrower.
<br />19. Borrower's Right to Reinstate. If Borrower meets certain conditions. Burrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of (i) 5 days (or wch other period as
<br />Lapplicable law may specify for n instatement) before sale of the Properly pursuant to any power (it sale contained in fill,
<br />Security Instrument; or (b) entry cif a judgment enforcing this Security Instrument (hose conditions ;tic that !lot rawci
<br />(a) pays Lender all stints which then would be due under thi, Security instrument and the dote had no acceler;ui n
<br />occurred; (h) cures any default of any other covenants or agreements: (c) pays all e.vt,cnse, incurred in enforcing ilus
<br />Security Instrument, including, but not limited w, reasonable attorneys' fees, and (d) hikes surh action as Lcnekr ismy
<br />reasonably require to assure that tire lien of this Security Instrurent. Iender's rights ni the Property era B ari%er',
<br />obligation to pay the sums secured ' this Sep cony Instrument shall cor.tunic unchanged rclnstalCtnc'nt 1,%
<br />Oorrowcr, this Seiiintl Instrirmcutan .heohhgationssecurcd hereby shall nisi :u lulk etfr%tM d� :1 u. ar.rlcreI;,•rt hest
<br />n, curred. l lowe%ci . this right to rciustale shalt net apply m the .asc• *,f
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