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11
<br />86-. 103941
<br />if lender required mortgage Insurance as a condition of making the Iran secured by this Security Instruntent,
<br />Borrower shall pay the premiums required to maintain the Insurance lit effect uninl such time as the requirement for the
<br />insurance terminates in accordance with Borrower's and Lenders written agreement or apphcahle law.
<br />8. Inspection. Lender or its agent may make reasonable enirnes upon and Inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection spy cifyutg reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any sward or :!aim for damages. clirecI or consequentiaI. fn connection with
<br />any condemnation or other taking of any part of the Propel 1', •,r for con%evanct, En lieu of condemnation. are hereby
<br />assigned and shall be paid to L.endzr.
<br />In the event of a total taking of the Property. Cite pnxeeds shall fx apph d to t he wits secured by this Security
<br />Instrument, whether or not then due, with any excess paid to f3orrowcr. 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 tine following fraction. (-it) the total :amount of the sums secured immediately
<br />before the taking, divided by. (b) the fair market value of the Property irnmediateh befog_ the taking. An% balance shall be
<br />paid to Borrower
<br />If the Proper} is abandoned by Borrower, or if. after notice by Lender it, Borrower that the condemnor offers to
<br />make an award or settle a claim for damages. Borrower fail, to respond to Lender within 30 day's after the date the notice is
<br />given, Lender is authorized to collect and apply the procceds. at its onion_ either to icstoration or repair of the Property or
<br />W the sums secured by this Security lnstrurnent, whether or not then duc.
<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 lit paragraphs 1 and ? or change the :+mount of such payments_
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ,I the little for payinem or
<br />muditicauon of amortization of Elie sums secured by tilts Security instrument granted h) Lcnder to anv successor inn
<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 lit commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortIzanon of the sutras secured by this Sccurity instrument by reason of any demand made
<br />by the original Borrower or Borrower's successors m interest. Any forbcsrancc M Lender 111 escriang an_, right or remedy
<br />shall not be a waiver of or preclude t he exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability: Co-signers. I ice covenants and agrecrnents of
<br />this Security Instrument shall bird and benefit the successors and assigns of lender and Borrower, suh!ect to the provisions
<br />of paragraph I7 Borrower's co% nanis and agreements shall he butt and several Any Borrower vv ho co signs this Security
<br />Instrument but does not execute the Note (a) is co -sgnmg this Security Instrument ()illy to mortgage, cram and convey
<br />that Borrower's interest to the Property under the Term, of tits Securty Instrument (bi 11 not personally obligated to pay
<br />the suns secured by this Security Instrument_ and (c) agrecs',hat Lemon and at v other Borroucr stay agree to extend,
<br />modify, forbear or make any accum,na ations with regard to Cite terms of this Security 111srunrcm .or tile Note without
<br />that Borrowers consent
<br />12. Loan Charges. Ili the loan secured by tilt, Security fuslrurnent r suh)ect to a lacy w htch ct,, nlaxnnum loan
<br />charges. and that law' is finally Interpreted so that lite interest or „thcr !,tan .barge, ducted c'r 1,; he celkcted to
<br />connection with the loan exceed the permitted lmnn. then (;t) •sty such loan charge ,half he reduced by :he amount
<br />necessary to reduce the charge to the permuced limit: and !hl am wits ,iitrauv ,ollcited Hcttruwei which cueeded
<br />permitted limas will b refunded to Harrower Lender ma; to nt.ikc tilts rcfiuul by n'dunng the prni 1, ai owed
<br />under the Note or by making a direc: payment to Hmrower It a refund reduces principal. the reduetfo+, will he l .aced as it
<br />partial prepayment without any prepayment charge under the Note
<br />13, Legislation .Affecting Lender's Rights. If enactment or cNpiraunn of applicably law, ha, the effect it
<br />rendering any provi,ton of the Note ,I this Secui-M Instrument unenfoiceahic.,eLi,rdmg iu t, term,. I critic, I[ its opluni,
<br />may require immediate payment lit (till of all suns secured by this Sccuntt Insirt»ncni and may ant -like any remedies
<br />permitted by paragraph 11). If Lender exercises tilts option. Louder ,hull take thy' steps specified m the second paragraph of
<br />paragraph 17
<br />14. Notices. An) noucC• to Borrower prodded for In tilts Sccunty instrUIVICIII ,hall 6C grsrn by JChverntg it or
<br />it.
<br />mailing it by first class mad unless applicable law requires list of another method the nonce shall he dtrccted it, the
<br />Property Address of any other address Borrower designates h% notice lit Lender .An) nt,nce act Lender shall be given h%
<br />first class mail to Lender's address stated herein or ally other address Lender designate, by notice act Borrowcr. Any notice
<br />provided for in tilts Security Instrumrnl shall he deemed to have been g.IV Cn art Borrower tar Lender w hcn gnu cu as plot ided
<br />I.-) this paragraph.
<br />15. Governing Law; Seyerability. *1 tit, Security instrument shall he uo1\crned h) t'-dcral tat, and the iaw ,tf the
<br />jursdtitton III which the Propen-v is located. In the event that any prott,u,n It r louse of thi, Security Instniment lit the
<br />Note conflicts with applicable law. such conflict shall not affect otter provisions of the 5eiurty Insil unicrit or the '.Bute•
<br />which can be given etrect wthuut Cite c0118ieung pruyislun. lo till, cnJ Cite pr,wstous of tfus Sc.arity Instruntent and the
<br />Nt tc are declared to he severable
<br />16. Borrow'er's Copy. Borrower shall be riven uric eunlormed cop+ ''t the Ntoc and rl tins Seiunt-, In,eruntcni
<br />17. Transfer of the Property or a Beneficial Interest in Burrower. If all :,r :toy part oI the Prtpeily ,u any
<br />interest inns sold or transferred (or Ifa beneficial Interest in Llotrowyr t, sold or c1,111,1encd and Hol TwACT :S1101 a natural
<br />person) without Lender', pnor written consent, Lender niay, act t', ctpina11, rtrqune unnic.hatt• p,lymcnt in full ,0 all sutn,
<br />secured by this Security Instrument However, this 01111011 Shall n.ot he evei.i,CJ by Lender Iteaeretsy t, puththlted ht
<br />federal law as ur she date of this Sciuruy Instrument.
<br />If Leader excreses 11111 option, lender shall gi%c Horiower notice ct(;escicc :,ion tile nonce ,hail pi„ddc.i period
<br />f n<tt cols than 30 drys Irom Ehe date the nonce is drlivcrcJ ;,t na.uled wi thin w hu It Boi t "%%cr nui,a I,ay
<br />this Security Instrument. If Ba,rrnwet tails to pay then soon, prior t,, the e'sl'trairrm l•! ifri, pe lod. I voila [tt,+v n;c,tkc.1111\
<br />rcmcdtcs pefimlICd by IhlsSecunty lnstrurnent without further r1, tee It dein.in 1 Ill hirr;t•wcr
<br />18. Borrower's Right to Reinstate. If Boirowei ruin ecrtant c i Cfui: t Ili trcowcr ,hail ha": ill• 11011 1„ h:ni
<br />enfc rcctuem of this Sceuttty In>.namenl itsiantintied at :Illy tune pitact t the :"niu of I.,t ul. 1i ihei ptlwd a,
<br />apt hcah,c bus jjjj% ,putty fl.,r rctn,r:llCII -IC j hehxc ,ilc of ttic 1 lop rT1\ fur „t.un h utv ! 1\v ., , I iii nn 1 in th
<br />ScCu Ny I1sttuin ni, r It )L ct fry of ii JIIdL!I:,,nt C1110 TI n . chi Su t.nrt It u.1 ^. � t 1 iWIC d,t , it u( I a b i „ncc
<br />la) ;),t), I ceder all sitill, which then would IV du, lind,I tt s SC :unit' 1pst,1 1 c:u ow tf., \„ !1t,!
<br />�t3
<br />occ amyl, (b) curt', <m% it :!,tint I an: other s,,v ur<nt, ,a is =i. nxi I u t,a., dl -I— cd in
<br />Sc•� :Ur +i1\ In,truincni. nick:ding, but not lirnrtcd tc., rca,� :r..'! l: it :,rt e1\, tics, . :•ail ,1\1 i . k— .,a a, a,.,, ., ;.O,l ;: -N '�•'3
<br />ieas>r,ahic tea {u•r; I,l sure chit 01” lien of tit, 5 writ. im;;ur,t.nt. I r 'c1 . :eht, - F,c�l'i ,,i'.: ,n
<br />F,l )n i, i = „1\ ;h:, ItIM” ,, ir.r? by .Iii, S ?_0i,ty !it 1 111t.7ii .hal tw- in,',._i i
<br />R „rrl1\rcr .hr,4.;ntitai ruii u�ctfitr,!,tigatia,i.,
<br />{r; ra', I1 ,v !l ,�, . , , . �.,.. ;itst}l itiu ii t -I1\ ,• l . _
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