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86- 103830
<br />If Lender required micirtgage insurance as a condition of making the Ion neared by this Sawrity Instrainent,
<br />Borrower "I M the premium required to maintain the insurance m effect until such time as the requirciment for the
<br />insurance terminaus in accordance with Borrower's and Leader's written agreement or applicable law.
<br />L lappecdon. Leader or its agent may make reasonable entries upon and inspection; of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying restionable cam for tbewsp- mcdon.
<br />9. CAsideamadon. The proceeds of any award or claim for Asm-ses direct or coaaequwtial, in connectkm with
<br />any condemnation or other taking of any pan of the Property, or for conveyanm in Him of condemnadon, we buft
<br />assigned and shall be paid to Leader.
<br />In the event of a total taking iif the Property, the proceeds shall be applied to the sum atxtirad by this Security
<br />Instrument, whether or not then due, with my excess paid to Borrower. In the event of a partial taking of the Property,
<br />untess Borrower and Lender otherwise agree in waiting, 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 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 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 or the Property or
<br />to the sums secured by this Security Instrument, whether or not then clue.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal "I am extend or
<br />postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbeartusee 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 bender to any successor in
<br />interest or Borrower shall not operate to release the liability of the original Borrower or Borrower's picoessors in interim
<br />Lander shall M be required to commence proceedings against any suoDessor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Insaungat by reason of any demand made
<br />by the original Borrower or Borrower's successm in interest. Any forbearance: by Leader in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any right or remedy.
<br />IL Saccesom md Assips Bond; Joiat said Several Liability; Cosigners. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the success= and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co-signing this Security Insumment only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the term of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Linder and any other Bortrowef 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 Borrowers consent
<br />M Low 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 Joan 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 oollected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Leader may choose to make this refund by reducing the principal owed
<br />wader the Note orby--ki- a direct payment to Borrower. If refund reduces principal. the reduction will be treated as*
<br />partial ple yment without any Prepayment chap under the Note.
<br />13. LaOsladiss Affeeftc Lasiders Moses. If enactincrit or expiration of applicable laws has the effect of
<br />reaclering 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 Security Instrument and may invoke any remedies
<br />permitted by pangmpb 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nonce to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first elm mail unless applicable Jew requires use of another method. The notice "I be directed to the
<br />Property Address Or any other address Borrower deingrialles by notice to Lender. Any notice to Leader shall be given by
<br />Am class mail to 1-4134101's address stated he= Or any other address Lender designates by notice to Borrower. Any nonce
<br />PrOvxW for in this Security Instrument shall be deemed to have bum given to Borrower or Leader when given as provided
<br />in this paragraph.
<br />1S. G-rerisift Law. SevwaMlhy. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property Is located- In the event that any provision or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security instrument or the Note
<br />which as be given effect without the conflicting provision. To this end the provisions or this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Cop). Borrower shall be given one conformed cop) of the Note and of this Security Instrument
<br />117. Transfer of the Properri• or a Beneficial interest in Borrower. If all or am part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<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 Secunt) Instrument. JJowcvcr, this option shall not be exercised b) Lender 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 nonce of acceleration. The notice shall provide a period
<br />of rot less than 30 days from the date the notice is dehvercd or mailed within which Borrower must pay all sums secured h,,
<br />this Security Instrument, If Borrower fails to pay thew sums prior to the expiration of this period, Lender may invoke an' )
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower
<br />1111- D01110"11111 $RigbttO RWN@tuc If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />&PPI=blt Isw MA) specify for reinstatement) before sale of the Property pursuant to any power of Lade contained in this
<br />Security Instrument. Or (D) entry of a judgment enforcing this Security Instrument Those conditions an that Borrower
<br />Pays Lender 4; sum). -hic)-, then would be due under, this Security Instrument and the Note had no acceleration
<br />occurred, (b) cures any default of any other C0111MAL11ts or agreements; (c) pays all expenses incurred in enforcing this
<br />Secuntv Instrument, Including, but not limited to, reasonable attorneys' fees, and (d i takes such action as Lender inn)
<br />reasonably request to assure that the her, or this Security Instrument', Lender's rights in the Property and HorTower's
<br />OWW'On to PAY the sums, secured by this Security Instrument shall continue unchanged Upon reinstatement bN
<br />Borrower. this Se�curs:} Instrument and the obligations secured hereb% %hal: re'llain fulIN rfTtC1!%e a, 1i nc ha,?
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