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86-- 103864
<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 Len or If .tgent. may make reasonable entries upon and inspections of the. Property. bender
<br />shall give Borrower,not[ce ai t tjme ofo prior to an tuspecition specifying
<br />reasonable cause fort he inspection.
<br />9.- Condemnation, Tlfie proceeds o ,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 he applied to the sums secured by this Se uri y
<br />Instrument, 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 Property immediately before the taking. Any balance shall he
<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 of [he 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 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 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. Any 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 Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the provisions
<br />of paragraph 17. Borrower's covenants a.nd 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 Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms (if this Security Instrument:. (b) is not personally obligated to pay
<br />the sums secured by this Security Instrurnent, 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 Security instrument is subject 11) a law "tire), %cis maximum loan
<br />charges. and that law is finally interpreted so that the interest or other loan charges collected or to he collected III
<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 stems 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 reduces principal. the reduction will be treated as a
<br />partial prepayment without any prepaynncat 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 dote 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 paragraph 19. If Lender exercises this option, Lender shall take the steps specified ur the second paragraph of
<br />paragraph 17.
<br />14, Notices. Any notice to Borrower provided for in this Security Instrument shall he given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. I "he notice shall he 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 mail 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 to deemed to have been given to Borrower or Louder when given as provided
<br />in this paragraph.
<br />15. Governing Law, Severability. This Security Instrument shall he governed h_v federal Lasv and rile l:nv of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Securnsy instrunnent or the
<br />Note conflicts with applicable taw. such conflict shall not affect other provisions of this Security instrument or the Note
<br />which call one given effect without the conflicting provision. Tor this end [lie provisions of this Security Instrument and the
<br />Note are declared lobe severable.
<br />16. Borrower's Copy. Borrower shall he given one confiirmed copy of the Notc and of Iles Securih 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 to it is stood or transferred for if a beuclicial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person") without [.miler's prior written consent. Lender may, at its option, reyuirr unrnediate paylrncni III full of Al still,
<br />secured by this Security Insirumcrit. However. tills option shall not ire excicix d by I.cnticr if eacrcise is prohrhneil tit
<br />federal law as of the date of this Security ItiUfUrnent.
<br />If l- odder exercises this option, Lender shall give Borrower notice of acceierauvn. 7 he oouce shall pro,,idc a period
<br />of not less than 30 flays from tile date the notice is delivered or mauled within which Borrower must pay all sums Secured by
<br />thisSccurity Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender niay unoke am
<br />remedies permitted by this 5cc:urrty Instrument without further noticeor demand on Borrower'.
<br />18. Bwrower'A Right to Reinstate. If Borrower nneets Certain conditions, Horro"cr shall have the right to hasc
<br />tuf ircernent of this SCL:urity Instrument discontinued at any time prior to the eancvr of. (1) , days Or such o,ll,cr perwd a,
<br />a1 )pIecJhIC taw may sIVL'Ify f0f ;.n,v. .cement) t)t :bite sale of the Property pUtsualti iii any pi,aci o[ sod =: coliaio:d in tins
<br />Se unity Iristrumcm, nr (hl ciorti ,I a judgment enfj,tclrng rill, Seriiriry Iu,triuocnl Ihosc omdilions ale Thal Borrower
<br />(.a1 pays t cndei' all sums mI%l fi them would he due under thu 4cunh Ins!rumem ;uui the \,,te had r", ae,rici'mon
<br />o. erne& (h) cures airy default A, ianv olhel eosenantN or i },rc.rnrnts. s.) pays rill expctnu+ 111,11 1.,C0 ui nti,rj:m the,
<br />turity Ln%.tnnnient, - n�:ludmgt, )?tit tills Invited (t,. ri.asotlabfe attnnrr.vs' tees. and ILI) 1,1.c, ,rich "i't1w! — 1 c!ldci In,iy
<br />ra.a + „na ),lp tevpulra a, assur; tha-t ON lieu of ;hi, `_ieouniy l.r,trusptrai. L,n.la % rtht, a olio rna 13i,r1„tiri
<br />obtgati:?n 10 p,Az rho ,kkrw, I,y the: Sccwity lasirunu•t ;; .it .a >i,l,nr,: rut, ha] i .. =cu J s•_, ;,cn!
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