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$6.,_, 103632
<br />86-1028.31
<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 prior to an mspecnon specify mg reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim 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 />assigned and shall be paid to Lender.
<br />In 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 be 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 Properly immediately before the taking. Any balance shall be
<br />paid to Borrower
<br />If the Property is abandoned by Borrower, or if, after notice b% Lender to Borrower that the condemnor offers to
<br />make.-in 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 m writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 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 onginal 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 fohearance by Lender in exercising any right or remedy
<br />shall not he 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 of
<br />this Security instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph IT Borrower's covenants and agreements shall beloint 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 convev
<br />that Borrower's interest in the Property under the temis of this Security instrument, (b) a 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 Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Sc.unty Instrument is subject to a law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other Iran charges collected or to be collected in
<br />connection with the loan exceed the permitted limns, then (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitted limjt: and fb) any surns already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower Lender may choose ro 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, rho reduction will be treated as a
<br />partial prepayment without any prepayment charge under the :Note
<br />13. Legislation Affecting Lender's Rights. if enactment or capitation of applicable laws has the effei.t of
<br />rendering any provision of the Note or this Security Instrument uncriforccahic according to its terms. Lender, at its option.
<br />may require immediate payment in full of all %urns secured Its tills Seeunty instrument and may invoke any remedies
<br />pernuited by paragraph 19 If Lender cxercr.es this option, Lender shall take the steps spccnhccl in ncc second paragraph of
<br />paragraph 17
<br />14. Notices. Any nvnrc to Borrower provided for rn this Secarny Instnrrnenl shall be given by delivering it or by
<br />marling if by first class marl unless applicable law requires use of another tncthod The notice shall be directed to the
<br />Property Address or any other address Borrower designates by nonce to Lender Any notice to Lender shall be given by
<br />first class marl 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 hase been given to Borrower or Lender when given as provided
<br />in this paragraph
<br />15. Governing Law; Severability. This Security Instrument shall Fm- govcrned by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any proaision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall 1101 affect other pn,yislons of this Security Instrument or the Note
<br />which can he given effect wnhouC the conHic1ing prt,%ision 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 be given one , -1tinrned ,rpy of the Note and of rho% Securty Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if all of any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or tr im1crrcd and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender rnay• at its option, require immediate payment rn full of all sums
<br />secured by this Security Instrument However, this opium shall not be cxcrclsed by I ender 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 1 he notice shall provide a period
<br />of not less than 30days from the date the notice is delivered or mailed within which Borrower must pay all swiss secured by
<br />this Security I• strument If Borrower fails to pay these sums prior l,- ncc expiration ,f this l,cruxd, lender stay invoke• any
<br />remedies permitted by -his Security instrument without further n „tics •ir demand „n Borrower
<br />18. Borrower's Right to Reinstate. if Borrower mrcis certain crnditn,n, Botlower ,hall have the right to I!avr
<br />enh3rcemcnt of this Smunty lnstrument discontinued it any tune prior l:: tht ear!1cr ,,,t f,i 1 s d;iN %(on suvh other period as
<br />app ilcahle law may specify for teinstatement 1 before sale ” the Pn :per;% t•ur .ui; +., any 1 , wci of sale .:mtal led ;n this
<br />`,ecurily Insirurnent or tb) entry of a dud merit eniorung :'r, , k, ur.ty (n,,r „rn,•t; h• at i,l rrrwcr
<br />g - 1 tic .uidlh.,n, au li i,
<br />,a1 pas, !Crete: ill sums which then would he title uncle' (ilia Setr.,ll1 1� :, ?r,ir.,c�i; .f 'he \,)rc had no .i„rie•rall,,n
<br />c ut!C,a 1111 ,tcs 311Y !clef Jntll ,i any I1C! r. fr. i'r;, t aM lot ( 01 a , i tt.•..; �,11"t'Int !hi•
<br />Nz �ni L, >.rumr•nt. 'neludv.g tout fl: -f i IH1,-d era +nnaE Ic r1 t, �t sic -.� rr., a 1,11 ,io, ,era s�. -1rn . -I, 1 ender ro,,nt
<br />rd a r,a •c'tii.. r.r �., f,xure ,hat hr lscn .:E �h1. keunla f;- :.,•...111 i .•�;... ••�i�1 .c ., r1, end li,- n.,wr1 .
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