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L <br />86-- 103$77 <br />if tender 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 />S. Inspection. Leader 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 />9. Condemnation. The proceeds of any award or claim for damage,, 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 shall he paid to Lender <br />In the event of a total taking of the Property, the pt.,cekls shall he applied to the sums secured by this Security <br />Instrument, whether or riot then due, with any excess paid t;• Borrower in the event of a pdrtiak taking of the Proper}'. <br />unless narrower and Lender otherwise agree in writing, the sums secured h} this Securer} Instrument shall be reduced by <br />the amount of the proceeds nlulliplied hy the following fraction (a) the t:otsl 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 />pain to Borrower <br />If the Property rc abandoned by Borrower. or if, after nonce by Lender fro Horrowar that the condemnor offers to <br />make art award or settle a claim fordamages, Borrower fails to rLspond tai Lender within 30 day, after the date the notice is <br />given, Lender is suthon7ed to collect and apply the proceeds, at its opiron, either to restoration or repair of the Property or <br />to thesurnssecured b} this Security Instrument, whether or riot then due <br />Unless Lender and Borrower otherwise agree fit writing., an} application of proceeds to principal shall not extend or <br />postpone the due date of the monthly payments referred to to paragraphs I and Z 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 n as <br />riot operate to release the liability oft he original Borrower tit Borrower.s successors fit interest. <br />Lender shall not be required to commence proceedings against any successor rot interest or refuse to extend time for <br />payment or otherwise modify amortization of the sums secured he this Security instrument by reason of any dernand made <br />by the original Borrower or Borrower's successors in interest. Any forbearance h} Lender in exercising any right or remedy <br />shall riot he a waiver of or preclude the exercise of any right or retnedy. <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 successor, and assigns oft ender and Horrower. subject ter the provisions <br />of paragraph I' Borrower's covenants and agreements shall he joint and several Any Borrower who co -signs this Security <br />Instrument but does not execute the !vote (a) is co- signing this Smunty Instrument only to rorigage, grant and convey <br />that Borrower's interest in the Property under tine terms of this Security frrNirument, (hl is riot personally obligated ro pay <br />the sums secured by this Severity instrument, and 1c} agree. that Lcrrdci and airy other Borrower nury ,greys to extend, <br />modify, forbear or make any accommodate on% with regard to the terms of this Securip Iustrmilent it the tints urthout <br />that Borrower's consent. <br />12. Loan Charges. if the loan,ecured hp this Sccurify lustr'urnc•nr is,tIl,lect I „., law wMch Net, makin,rnn Iran <br />charges, and that law is firialk interpreted u, that the interest or other ieian charges collected rot ti he collected ut <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 limn; and (ht nny sum•. already rnlleC tcd from Borrower which exceeded <br />permitted limits will be refunded tit Borrower Lender may choose I„ inakc flit, refund by redncrIn: the• principal owed <br />under the Mote or by making a direct paytncnf its Borrower if a refund reduces principal, [hie reduction will he treated as a <br />partial prepayment without any prepayment charge under tile Not, <br />13. Legislation Affecting tender's Rights. If enactrnent or cAplrminn of applicdhjC knvN has the effect .of <br />rendering any provision of the Notenra his Sccurty insittimrnt uncnti,r,cahL ,iuoniul It, its tern,, I end,;, at its option, <br />may require immediate. payrncrti Ili full of all Nutt:s secured by hits Security Insitumcni and roar mtoke any renwdtes <br />permitted by paragraph ly if Lender exercises this „fitmn, I endcr ,hall take the steps sfxSilicd u, !ire second pa!agtaph of <br />paragraph 17. <br />14. Notices. Arn nonce io Borrower provided for in fill, Securit. hisirunu•nt ,hall tic f;iven by clelitering it „r by <br />mailing it by first class flat[ unless applicable law requires use• of another method h he notice %lull he directed I,, fhc <br />Property Address or any olhcf addri:” Hoirower deagtntles h, notice to Fouler .Any noU.e tit. [.ender shall be glvcn by <br />first class snail to Lender's address stated herein of am -,Beef address I endcr desgHM(:% by noise In I,loninvcr Anv notice <br />provided for fit this Secunt} instrument shall he ifcemed to lave been gncn to Horn,wer to i cneler when gt.en as pimided <br />in this paragraph. <br />15. Governing Law; Severability. This SLyurity Instrunictii ,hall he gotcrr!cd by federal sacs and the taw A file <br />jurisdiction to which tilt Propert is located in the went thai an} l,ro.IMon •oi .Ian.. 'If ihf, SCettrl } IIIStrlrtrie•III or the <br />Note eonl1w s with apphcahlc low• Ndch conlltet shall nit Melt other pn vtsrons rot Ihfs Sc•:ur•t. Instrument or the iNioic <br />which can tic: Fried rlfctt without the rontlicting provi,00a Tit tilts end !tic• pr,,.I,n,nN of II1IN Security Instrument anti the <br />Note ate declared to he scterahlr <br />ib. Borrower's Cnpy. borr-wAcr ,hall he gitcii roc ,,nG,rwed : ;,. t the \'.a, end ,N fill, Cerunt: 1n,trnncrl <br />17, 'Transfer of the Property or a beneficial Interest tit llorril%er. if ul ,•i im p.,r1 ,d iii, Pr,,perty •u ant <br />Interest in It Is sold of irantsfer;ed lit if a hc•rciicial rntcrcNi u; H:•v rr „ „•i.i • v rr.n„Ir; t,.d .end k,ur„w, r „ nod If naiur.d <br />person) without Lender's prior written insert, Lender may. et II%,gllwn. rrquirc ,milledi•llk. pa)fnenl rot fall ,d all ,urn, <br />secured by this Security Itiorwrreul lkoweter. Ili!, "push ,h,rli not lie i'XCfeI,Cd ht I ender II ,xcrrlse n po„Intnled 1st <br />federal law as of the dale „f !ht, Geiui tt. Instrutnent <br />if Lendvi, exercises thi, : optton, Lends snail gr.e H,rr „wrr 'otter, rot e,. elcr.itt, !; I !:c n•'tae ,11.ill plit,de I <br />ofnfil less than today +from Ihr. dais the notice is dehtcied „r ni,ui,d tvltti;n w bosh Ht,n„uc; n,,,,I I'— .Iii <br />this Securely instrument H burrower fails to pay lheNr Nurn, prior ;,, thr c vpif.v,—, .,i stn, ;K, ,& i cr, S, I rnat ,•,,,,.c .u,•. <br />remedies lierinniedby flit,Securtty ltrsrruntent wtthiut furihc: nvo,e,,I dcrnarici 'tit li.•rrn,wcr <br />1N, R ,rrowrr'% Right Ito Reinstflte. If flouowet fords c'cu:on „•n.iu:, i;, Buy „ucI 'h.ali h.nc Ii,,..• :hI I, lode <br />enforcement of Off, at an} mitt ; -1... , • •t, •,I ,er ° [t rot,• ;i -, <br />appiicahle law Ina. Nfi,ltrlr r.. ,Ifistaten�.,-n[, t *Thor• d t , Pr r t, „;• ., .:. ,.,I .'.i,n,d ,. !,i\ <br />Sr.unlyIn,lrunlcni rr h; .•. tIdgrt,cnicoil; �, fie. I. �n,. 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