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86--4 103150
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security In-
<br />strument, Borrower shall pay the premiums required ill maintain the insurance in effect until such rime as a requirement for
<br />the 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 shall
<br />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. direct or consequential, in connection with any
<br />condemnation or other iakingot any part of the Property ,or for conveyanct In lieu ofaxnemnaron ,are hereby assigned and
<br />shall be paid ul Lender-
<br />In the event of a total skins; of the Property, (he proceeds shall be applied of the sums secured by this Securing
<br />Instrument, wherher or not then due. with any extras paid to Borrower. In theevent of a partial takulgof the Property, unless
<br />Borrower and Lenderotherwtse agree in writing, the sums secured by this Seuirity Instrument shall be reduced by the amour(
<br />of the proceeds multiplied by till- knowing, fraction: ta) the total amount of the sums secured immediately before taking,
<br />divided by (b) the fair market value tit the Property immediately before the taking. Any balance shall be paid o3 Borrower.
<br />If the Property is abandoned by Borrower, or if, afrer notice by lender to Borrower that the cotniemnor offers to make
<br />an award or settle a claim for damages Borrower fails to respond ui Lender within it) days after the date the notice Is given,
<br />Lender is authorized to collect and apply the proceeds, at its option, either co restoration or repair of the Property or ro the
<br />sums secured by this Security instramcni, whether or not then due.
<br />Unless lender and Borrower orherwise agree in writing, any application of pnxeeds to principal shall not extend or
<br />posipne the due date of the monthly payments referred u) in paragraphs I and 2 or change (he amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. lixrcnsion of the time for payment or
<br />mtnlification of amortization of the sums sutured by this Security Instrument Granted by tender to any successor in interest of
<br />Borrower shall not operate to release the liability of the original Borrows ror Borrower's successors in interest. Lcnder shall
<br />not be required to commence proceedings against any successo::::arerest or refuse to ex tend time for payment or otherwise
<br />modify amortization of the sums secured by this Sects rIty Instrument by reason of anv demand made by rhe (it igiit aI Burrower
<br />or Borrower's successors in interest. Any forbearance by Lender in exercising any right or re tried v shall net beat waiver of or
<br />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 this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph I'. Borrower's Covenants and agreements shall be joint and srvrral.:1ny Borrower w his Lo-sign. this Security
<br />instrumentbutdoes not execute tile Nore ta) is co-signing this Security Instrument only (o mortgage, grant And convey that
<br />Burrowers interest in the Property under the terms of this Security Instrument; All is not personally obligated to pay the
<br />sums secured by this Security Instrument; and t, agrees that Lender and any other Borrower may agree to extend, modify,
<br />forbear or make any accommodations with regard to the terms of rho Security Insirtrinrnt or the Note without that
<br />Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Securty Instrument is subject to a law which sees maximum loan
<br />charges, and that law is finally interpreted so (hat the interest or other loan diarges collected or to be collected in connection
<br />with the loan exceed the permitted limits, then: ia) any such loan charge shall be re:iu,cd I» the amount necessary to reduce
<br />the charge to the permitted lints; and (b) any sums already till let Ied f runt Borrower which e•xcecded permitted II itIIIs will be
<br />refunded n3 Burrower. Lender may choose n1 male this refund by reduc iclg the• pr iticIpiI o:ced under the Not y or by making a
<br />direct payment to Burrower If a refund reduces principal, the reduction will be rremed as a partial prcpayr ent without any
<br />41-1
<br />prepayment charge under the Note
<br />1
<br />13. legislation Affecting Lender's Rights. If cnattincnt of expiration of applicable laws has the effect of rendering
<br />any provision of the Note or this Security Instrurnew unenortrabic ato irding; to its terms, Lender, at its option, may require
<br />immediate payment in full of all sums secured by (his Security instrument and may invoke any remedies permitted by
<br />nM
<br />paragraph 19. If Lender exercises this option, Lender shall take the steps sprcitied in the second paragraph of paragraph 17.
<br />14. Notices. Any notice to Burrower provided for in this security Instrument shall be given by delivering it or by
<br />mailing it by first class marl unless applicable law requires usc•of another me•thoti. 1 he noi:ce shall bedirreted to the Property
<br />Address or any other address Borrower designates by nntite tic Lender. Any not w lender shall be given by first class mail
<br />to Lender's address stated herein or any onccr address Lender designates by notice its Borrower Any notice pruaided for ui
<br />this Security Instrument shall hetieenled to have hec•n given to Borrower or lender when give:1 as provided in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument chill be governed by fede•ra1 law and the law of the
<br />jurisdiction in which the Property is located In the event that any provision or clauseoi this Security Instrument or rhr Note
<br />conflicts with applicable Law. suth conflict Shall not affect other provisions of ihisSccurity instrument or the Now which cau
<br />be given effect without the contlicting provision To this end rile provisions tit this Srturity Instrument and the time are
<br />declared lei he severable.
<br />16. Borrower's Copy. Burrower shall be given One (ahkirmed till)) tit the Note and of this Security Instrument.
<br />17. Transfer of the Property or a Beneficial interest in Borrower. It all tit any part (If the PrOperty or any
<br />interest in it is sold or transferred I or if a beneficial interest in Burrower is sold or transtcrred and Burrower is not a natural
<br />person) without Lenders prior wnttelh consent, Lender may, at its option, require Immediate payment in full of all Burns
<br />Secured by this Security Instrument However, thisoptnm shall not by exert iced by Lcnder it rxertile is prohibited by federal
<br />law as of the date of this Serurity lnstruinvot
<br />If Lender exercises this option, lender shall gnu Burrower nonce tit ac(eleration. 7-lie notite shall provide a period of
<br />not less than 30days from thedare the notice is delivered or marled within which &rrowc•r must ;)ay all sums scctrrd by chi,
<br />Security instrument, If Borrower fails it) pay these sums prior ro tilt• rxpration of this period. Lender nay invoke :any
<br />remedies permitted by this Secufny lnstrilmum without further nuticr or demand on Bo,rrowrt
<br />18. Borrower's Right to Reinstate. if Borrower meets curtain conditions, Borrower shall have the I fight o± have
<br />enforcement of Ibis Secuticy Instrument di,tonntnlyd 41 any eune pr'tot to rho' ear hel of ; a ti d.et', cot S tch other ptrieid is
<br />applicable Law may spoilt) fur reinstaccnhrnl : before sale of tilt Property pursuant toe any pout I of sale ualtaln "d In this Se.
<br />eighty In-,(I unicill. of ih) ell III oaf a tudgn it tit vi Ito(c II l", thlS Set tit sly In ,t r UnletlI Those fond onoi), air in At Sot 1 owt•I (a
<br />pay, Lctx9et all sums which itren would bcdne urltier thrssccurrly lnsuulmenl and the `lore hart tit, ao trlrr.0 con. r w it,d A,,
<br />€(Ire%an) default oiaoy of het tonvcrii 110501 a.glcliriCnt,; Ito pay, al! t.ix-o,es 9nl t,rrel11 r1 rno,ri irig r 1115 Sc, lie r eh !list l imic Ill,
<br />'uate
<br />irldod,ng, blur not ttntncd ill, fe.4%01lab11e J(I0Vl i', (et',, and Id's (hake, 01 actioln .I, Lrti,it-r 11111 ' t't':I, +Itt,lbpv 't-qurt• t„ a,.
<br />sterc IitaI the Ioe:o of tftI, s�cxnlrnp Imiraimirm, f.elArr s right, III rhr Prop, t r r And lie.r,,,ur, s „kal::;.i, gun r,: p i tar ,u,...
<br />,edited 6 ail,, wa w,ty If"tc -Beal ,hall ton it Irmohanged 1' -xi rcvi,tsicnlr -' i,i io<,rr,_:w rt. r1",�;. u:.,t (.. sou n,
<br />Y rKp tfte' aCf3 ?, teal N.itrS ,tV. ire C'.1 != t':.•hp ,ei,dl ieti)_,, % iluth' efctK'ti,e ,I, tt ll< ,,,.t le'I _,I,,, ,y,t .a _i:f, t'.) f li ,'., ,'�i'• ,.a;',t i,.
<br />71 "1!tNt kit; ihAi n-T ,tppis I". ;lie ,ass ,4r
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