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86- 108716
<br />If Londe, as a condition of making the loan secured by this Security Instrument.
<br />Borrower " pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />ourm P terminates in accordance with Borrcwcr*s and Lender's written agreement or applicable law,
<br />8. IffieWdoo. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />V. CA%kftnuw$oo. The proceeds of any award or claim for damages, direct or consequential. in connection with any
<br />condemnation or other taking of any par, of the Property, or for conveyance in lieu of condemnation, are hereby assigned
<br />and siliall be paid to Lender.
<br />In the event of a total taking of the Property, The proceeds shall he applied to the sums secured by this Security
<br />Instrument, whether or not then due. with any ex.-em paid to Borrcir, in the event of a partial taking of the Property,
<br />imless Borrower and Lender otherwise agree in writing, the surriii secured by N5 Security instrument shall be reduced by the
<br />amotmt of the proceeds multiplied by the following fraction: 1a) the total arriount of the sums secured immediately before the
<br />(akiteli, divided by (b) the fair market value of the Property immediaiciy before the taking. Any balance shall be paid to
<br />Borrower.
<br />If the Property is adandoned 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 I ender s3thnt 10 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either if) 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 pmccel:15 to principal shall not extend or
<br />postpone the due date of the monthly payments referred to to paragraphs I and Z of change The amount of such payments..
<br />10. Borrower Not Released: Forbearance W Lender Not a Waiver. Extension of the time for pas-nartit or modification
<br />or amortization of The sums secured by this Security Instrument granted by Lender io any successor in interest of Borrower
<br />shall nix operate to release the liability of the original Borrower or Borrower's successors in interest. bender shall not be
<br />required to commence proceedings against any successor in 'interest or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
<br />Borrower's successors in interest. Any forbearance by Lender in exercising any right Or remedy shall not bC 4 Waiver Of Or
<br />preclude the exercise of any right or remedy,
<br />11. Successors and Assigas Botmid; Jolul and Set" I-Isiblilly: Co-Alliaters. The covenants and agreements of this
<br />Security Instrument shall hind and henefit the successors and assigns of Lender and Borrower. subject To the provisions of
<br />paragraph 17. Borrower's covenants and agreements shall be - ionit and several, Any Borrower who co -signs this Secunly
<br />Instrument but does not execute the Note: fa) is co- signing this Security InstTurlicni oni) to mortgage, grant and convey that
<br />Borrower's interest in the Property under the term,, of this 'secuti:-. lnWumerr: (is) is not r-criionally obligated to pay the
<br />sums secured by this Security Instrument: and fc) agrees that I endicir anti any other Borrower ma) v agree to extend, muditv.
<br />forbear of make any accommodations with icgaFd to the terms of this Sccurti) lustritmeni or The `Sore without that
<br />Befro-tir's consent.
<br />12. Loan Clearein. if the loan secured by this -Securliv Instrument i, ublect To a law which sets ma-umum loan
<br />charges, and that taw is finally interpreted so Thai the inictcst or other loan charge, collected of i- to collected in Connection
<br />with the loan exceed the permitted limits. ;Mtri ia) iury such loan charge shall he reduced by the amount Pcc%sdr% to rcdu•.c
<br />the charge to the permitted limit; and 4bt any sums already collected from Borrower which cxceLded permitted limits will he
<br />refunded to Borrower. Lender may choose to make this refund by reducing the Principal awed tinder The Note or by making
<br />a direct paylineni to borrower. If a refund -rduces pirricippal, the reduction will be Treated as a partial prepayment willout sins,
<br />prepayment charge under the Note
<br />13. I.Ritiallet"a Affecting Leader's Rightit, If enactment or expiration of aptificabir laws has the effect of rendering any
<br />provision of the Note or this Sectiriv. iristromew urienforccAtle w ording, -i, rs terms, I ender. at its entron, may require
<br />immediate payment in full of all sums secured by this Security Instrument and ma) invoke any itimedi" permitted h)
<br />paragraph 19. If Lender carroses; ft, opitort, Lender shall take The step% sriccified in the second paragraph of paragraph I'
<br />14. Notices. Any notice !o Borrower provided for in this Sccurity instrument shall bt given by delivering if or by
<br />mailing it by first class mail unless ripDfiorthle law reclutrei, use of another method The notice shall be directed to the
<br />Property Address or any other address Borrower designates by irotice to I ender. Any notice to Lender shall be given by first
<br />class mail to Lender's address rated herein of any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall he deemed To have been viscri to kortowrr or Lender when given as provided in
<br />this parailtriespill,
<br />15. Governing Law; Seversellillity. This Security Instrument shall be governed by federal law and The law of the
<br />jurisdiction in which Elie Property is located In the event That an) provisions or clause of this Security Instrument or the
<br />Note 00011kil With applicable [a-, such Conflict shall not affect other proNtsions Of this Security Instrument or the ,,role
<br />which can be given effect without the c-onflicting provision To this end the provisions of this I;t-.urttv Instrurntmi and the
<br />Note are declared to he severable
<br />It. borrower's Copy. Borrower shall he given one conformed Copy of the Note and of this Security Instrument.
<br />17. Treeserfer of the Properel, or a Relatfiertall Interne to Borrower. if all or any part of the Properly or any interest in it
<br />is sold or transferred (of if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)
<br />without Leader's prior written consent, Lender may, at its option, acquire immediate payment in full of all suffix; secured by
<br />this Security Instrument- However, this option shall not he exercised by I ender if exercise is prohibited by federal law as ol
<br />the date of chic Security Instrument.
<br />If Lender exercises this option, I ender shall give Borrower notice of acceleration The notice shall provide a period of
<br />not I• than 30 days from the date The notice is delivered or mailed within which the Borrower Must Pay all sums secured by
<br />this Security lftstrurnvnt. If Borrower fails to pay these sums prior in the expiration of This period, Lender may invoke an-,
<br />tesisedicif permitted by this Security Instrument without further notice or demand on Borrower
<br />IL Barone 'a PJaM to Reimme. if Borrower reflects certain conditions, Borrower shall have the right to have
<br />senfatcessent of thin Security laiarlemerd discontinued at any time prior to the earlier or. (a) ! days for such other period as
<br />applielablie law may -.pwfv for reinstatement) hel'ote s&It or the Property pursuant to any power of sale contained in than
<br />Sectirky Imaniment,. ch Chi m'" of a ?udgirtarell enforcing this Security Instrument rh("r -ondition% are that Borrower- (a)
<br />Me, L4*kr &M seemes whicif Own would be due under this Security Instrument and the Note had tio acceleration kkvurted: (b)
<br />cear" any dtfoiall of am other covenants or agreireeiients; fc) pays all expenses incurred in enforcing this Security Instrument,
<br />"Wading. but fee" fimiteei lo. firlawaahiiii snorney's it"; and (d) takes such action as I ender may reasonably require to assure
<br />tlinit 11se ho of this Security Instrument, Leirisity'% rights in the Property and 8orrowcr*,, obligation to N% The surnii NCCUTM'
<br />by " Security firmtrument shall continue unchanged Upon reinstatement by Borrower. This secitraN Instrvment and the
<br />Obligations 'Wicuried Ivei 'hall titmaiin fully efffttise ai, if no acceleration had occurred Flo-c,ei. this right to reinstate 010
<br />not ispoisf in the case if asctitratiUrts -ariLlef "riiefraphit 1 1 AT I-
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