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<br />103705
<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 />S. 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 />9. Condemnation. The proceeds of any award or claim for damages. 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 be paid to Lender
<br />In the event of a total taking of the Property, the proceeds %hall 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 to 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 Property immediately before
<br />paid to Borrower. the taking. Any balance shah be
<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 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 i he 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 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 1 and 2 or change the amount of such payments.
<br />10, Borrower Not Released; Forbearance By Lender :Vol 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 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. Anv 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. Successors and Assigns Bound; 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 bejomt 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 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 Borrow'er's consent
<br />12, Loan Charges. If the loan secured by this Security Instrument 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 be collected in
<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 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 or by making a direct payment to Borrower if a refund reduce, principal. the 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 expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender. at its option.
<br />may require immediate payment in full of all sums secured by this Secunty Instrument and may invoke arty remedies
<br />permitted by paragraph 19 If Lender exercars this option, Lender shall tat e the steps spxrihrd in the second paragraph of
<br />paragraph 1'
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by deh%enng it or by
<br />mailing it by first class mail unless applicable law requires use of another method, file notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice 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 />proseded for in this Security Instrument shall be deemed to hale been given to Borrower or tender when given as provided
<br />in this paragraph
<br />15. Governing Law; Severability. This Secunry instrument shall t c• governed by federal law and the law of the
<br />jurisdiction in which the Propeny is lo,:41ed In the went that any prosiswn or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall nut affect other proviswns of this Security Instrument or the Note
<br />which can he given effect without the conflicting prusuton ho this end the prot,roiros of this Security Instrument and the
<br />Note are declared to he severable
<br />16. Borrower's Copy. Borrower shall be given one conformed .cops of the 'vote and of this Security Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower, If all or any part of the Property or any
<br />interest in a is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is riot a natural
<br />person) without Lender's prior written consent, Lender may, at us option, require immediate payment ill full of all sums
<br />secured by this Secunly Instrument f'fowever, this option shall not he exercised he Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument
<br />If Lender exercises this caption, Lender shall give Borrower notice of accrleratton The notice shall pros ide if period
<br />of riot less than 30 days from the date the notice is delivered or rnailed within which Borrower must pay all sums sec tired by
<br />this Secunty Instrument If Borrower faits to pay these sums prior to the expiration of tins fencxi. Lender may invoke any
<br />remedies permitted by this Security lnstrument without further miner or demand on Borrower
<br />18, Borrower's tight to Reinstate. If Borrower meets certain conditions. licun,wrr ,hall hase the right to hale
<br />rriforcerricnr of!hts Secunty Instrument !tseffruutucd at arcs umr prior ;v the ennccr rf tar a
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