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86-- 103540
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<br />If Lender required mortgage Insurance as a condition of making the loan so cured 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 />1. 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 prior to an inspection specifying reasonable cause for the inspection
<br />!. Condesanistfoo. The proceeds of any award or claimfor damages, director consequential, in connection with
<br />any condemnation or other trfking of any pan of the Property, or for conveyance to lieu of condemnation, arc hereby
<br />assigned and shall be paid to Lender.
<br />10 the event of a total taking of the Property, the proceeds shell be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess pout 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 ise reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total amount of the suns 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 Ikrrrowci that the condemnor offers to
<br />make an award or settle a claim for damages. Borrower fails to respond to Lender within 10 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 Secunly Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree to writing, any application of proceeds to principal .shall not extend or
<br />postpone the due date of the monthly paynicrus referred to In paragraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not is 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 Ek)rrower's successors tit interest.
<br />Leader 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 on8inel 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 eaercrse of any right or remedy.
<br />11. Successors and AssiIJPil' Bernd, .joint and Several Liability; Co- signers. The covenants and agreements of
<br />this Secunty 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 whoco-signs this -Security
<br />Instrument but does not execute the Note: (a) Is co-signing this Security 1, :.nent only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the terms of thts Sccunty Ins, -ununt, (b) as not personally ohhgaied to pay
<br />the sums secured by this Security lnsimmient, and (c) agrees that Lender at d any other Burrower may agree it) extend,
<br />modify, forbear or make any accommodations with regard to the terms of i n 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 inaxonum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to he culimted tit
<br />connection with the loan exceed the permitted hmots. 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 o- by making *direct payrnent to Borrower ifs refund reduces proicipal. the reduction will be treated ass
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Leader's Rights. 11' enactment oi' expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable a, cording to its tcrnis. Lender, at its option.
<br />may require immediate payment tit full of all sums secured by this Smui!iy Insiruriicni and niay invoke any reuicdict,
<br />permitted by paragraph 19, if Lender exercises this option. Lender shall take the stele specified ui the second paragraph of
<br />paragraph 17
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument %hall he given by dehvcrinh it ,rr by
<br />nu ling it by first class mart unless apphcable law requires use of another mcib,id 1 tic n,ui. c %hall he .her, Ie,l to the
<br />Property Address or any other address Borrower designates by notice It) Lender Any noin c to Ixnder shall be given by
<br />first class mail to Lender's address staled herein or any other address Lender designates by notice to Borrower Auv nout<
<br />provided for in this Security Instrument shall he deemed to have been given to Bon rower or L ender when given as provided
<br />to this paragraph.
<br />IS. Guverning Law; SevPrability. This Security Instrument shall he governed by federal law and file law of file
<br />jurisdiction in which the Property is fixated pit the event that any provision ur clalisC ill thus SCLurity fn%numcnl ar ttic
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or [tic Notc
<br />which can be given effect without the conflicting provision To this end the provisions of This SLLunty Instrument and file
<br />Note are declared to be severable
<br />16. Borrower's Copy. Borrower shall be. given one ,onformed copy of the Note and of this Security instrument
<br />17. Treader of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />Interest in it is sold or transferred for if a beneficial interest in Borrower is sold or i ramsfei t ed dnd Borrower I% not a nut ur al
<br />person) without Lender's pnor written consent, Lender may, at its option, require inimediaie payment to pull of all sums
<br />secured by this Security Insrumeni However, this option shall not be exercised by Lender if exercise n prohihurd by
<br />federal law as of the date of this Security Instrument
<br />If Lender exercises this option. Lendei shall give Borrower notice of acceleration The notice shall provide a j,ertod
<br />of not less than 30 days from the date the notice is delivered or mailed within which Burrower must joy All sums scturc•il by
<br />this Security Instrument if Borrower fail% to pay these sums pour to the expiration of this period, Lender may awake env
<br />remedies permitted by tl is Security Instrument without further notice or dratand on Burrower
<br />18, Borrower's Right to Reinstate. If Borrower meets certain conditions, floiruwer shall have the right to have
<br />enforcement of rho Security Instrument discontinued al any tittle prior u, the e4irhrr of (a) S days (of %uth other Iwt1 -1 a%
<br />L applicable law may specify for reinstatement) Wore %air of the Property pursuant it, anv lxiwer (11 wk ua,ldined Lit rills
<br />Security Instrument, or Ih) entry of a Judgment enforcing gilts let unty Instrument 1 hose conditions are that Bev rr :wrr
<br />(a) pays Lender all %urns which then would be due under This lnurity Imtru irm and the Noir had no .1,,rlrral -11
<br />jiccuired. (bi cures any default of any other Lavntanis ur agrren,c•nic (, I rays all rslrenses in, aunt in rnl,v, rug, 111is
<br />Security instrument, m.Juahng. but not hunted lo. teasonahlr All"roevs tres. mud Id) i.ilrs ♦tr, r, att.on a. I tn,icr , „ „v
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<br />reasonably require to assure that the hen of this Srcuitly Inslnnnrni. I maser's nght% tit the I'rurrrll, an,1 ft „u icon t
<br />ohlixatarn 14) pay the Bunts wcurel by Ilya sei.uriiy In%tiumcot .hall ,ontinuc
<br />liosrowtr. this Xturiry Instrument and the ,- hhgalierns wturril hctcby .h.sll rrn,.nn t,.0, , rt., .,. n :1 , a, -1r • ,
<br />,n,,,rn,t H, w,ar 011, ;'I'hl hr r,Il,,t.ilc'h.rll ,,,i nt lily in lhr, -r. l n air +sI , r,.: . r, , ,
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