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103+20
<br />If Lender required mortgage insurance as a condition of nuking the loan secured by this Security Instrument,
<br />Borrower shill" pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminates to accordance wilt Borroweer's and Leader's written agreement or applicable law.
<br />8. faslodion. 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 inspaticat specifying reasonable cause for the inspection.
<br />9. Casidei "lloa. The proceeds of any award or claimtfi r 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 />assigned and shall be paid to Lender.
<br />to the event of a total taking of the Property. the proceeds shall be 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 he reduced by
<br />the amount of the proceeds multiplied by the following fraction: (a) the total 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 sack a claim for damages. Borrower fads to respond to Lender within .10 day-, after the date the notice is
<br />given. Leader is authorized tocolteci and apply the proceeds, at its option, either to restoration or repaorof 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 t and 2 or change the amount of such payments.
<br />10. Borrower Not Reeased; Forl eararsce By Cruder 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 of 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 atnonizatWo 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 of any right or remedy.
<br />11. Soccesssrs toad Assipi B000d; Joint and Several Liability; Co-sitpiers 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 bie)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 stems secured by this Security lrutruineut; and (c) agrees that Lender and any other Burrower 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. Leiser Clu rges. If the Ian secured by this Security lnstrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to he collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such awn charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limn; and (b) any sums already collected from Borrower which exceeded
<br />permitted limns 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 it
<br />partial prepayment without any prepaymem 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 at this Security Instrument unenforceable according tons terms. Lender, at Its option,
<br />may require immediate pwymcnt in full of all sums secured by the., Security Instrument and may invoke any rcmcdtcs
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified it the second paragraph of
<br />paragraph 17
<br />14. Notice*. Any notice to Borrower provided (or in this Security Instrument shall he given by delivering it or by
<br />nailing it by first class maul unless applicable law requires use of another methocl The nonce 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 maul to Lender's address stated herein or any other address Lendee dcsignain by notice to Borrower Any notice
<br />provided for in this Security Instrument shall use deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph
<br />IS. Governing Law; Severability. This Security Instrument shall he governed by federal law and the law of the
<br />jurisdiction in which the Property is located in the event that ally provision err clause of this Security Instiunicnt it the
<br />Note conflicts wtth applicable hew, such conflict shall not affect other provistow of this Security Instrument or tar 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 />If, Borrower's Copy. Borrower shall he )oven one conformed copy of the Note and of this Security Instiunicnt
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property our any
<br />interest in it is sold or transferred (or of a beneficial interest in Borrower is sold or ttansferred and Borrower is licit a nal w A
<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 shalt not use exercised by Lender if exercise is prohibited by
<br />federal law as of the date of Ihis Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrower nonce of acceleration The notice shall provide a pcnod
<br />of not less than X) days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrumait. If Borrower fails to pay these sums prix to the expiration of this period. Lender may mvokc any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower
<br />Iii. Do a ror's Right to Raisistate. If borrower meets certain condifinos, Borrower +hall have the right to ha.e
<br />enforcement of this Seeun,y Instrurnrnt dosccdumuat at any time prior to the rather of (a) S days for such other period s -.
<br />applto:rble bow may specify for remsalement) before sale of the Property pursuant lit any txiwcr of sale +:vntruted tit this
<br />Security Instrument, or Ib) miry of a judgment enforcing this Securiy Instrument 1 hose comhnons are tour loot rower
<br />ts) frays tender all sums which then would he due under this Security Instrument and the Note had m. accrkiuuim
<br />^curred. (b) cures any default of any other covenants or afpernients. (c) pays all cxprnses in, urre,l to rrnl, +r, mg rtes
<br />MICUrtly InSMAMCnl, incfucdrng, but not hinted lo, reaswmahle artonxys, ter,. and Id) takr+ sit, h action AN I nrdrr, may
<br />reasmwbiy rogtore to Insure that the hen of this Security Instrument, Lender's rights in the Property and Il.nr.,v,rt s
<br />oltfittatum to pay the sums secured by this `tecurity lnstrument ,hail ,00linuc umhang"I Piwin rru,.tarr,r•.r:u t•.
<br />New omver, the, Sri utu. lrw urnrnt snail Ibr nhhjtatrctri+ sec seed hereby shall rrrts.un 11.11% rtle' tt.r . ,r
<br />•. .,r n,i (1. — sr+ - h., rtkhi iu rrt:r.t,tlr sh: I n,si nvriy :n 0-,. a+r,d .N, rI, rav,•a , ,.1rr o , i,: , P.
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