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L
<br />Ale 1
<br />- Ateeo I I eW
<br />86- 103974
<br />$6-- 103711
<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 fig the
<br />insurance terminates in accordance with Borrower's and Lenders written agreement or applicable law_
<br />8. 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 r easonable 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 he paid to Lender.
<br />In the event of a total taking of the Property the proceeds vial] be applied to the sums secured by this Security
<br />Instrument. whether or not then due, with any excess paid to Borrc,.ver. in the cv°ent of a partial taking of the Property.
<br />unless Borrower and Lender otherwise agree in writing, the sums secured he this Security Instrument shall be reduced by
<br />the amount of the proceeds multiplied by the following fraction. (ai the total amount of the sums secured immediately
<br />before the taking, divided by (b) the fair market value of the Property immediate!y 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 bender wit hin its 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 the Property or
<br />to thesums secured by this Security Instrument. whether or tips 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 I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the lime 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 su:cessors 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 nght 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 hind and benefit the successors and assigns of Lender and Borrower. subject to the provision,
<br />of paragraph 17. &grower's covenants and agreements shall be joint and sex era1..Any Borrower Aho co -signs this Security
<br />Instrument but does not execute the Note: fai 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: (bl is not personally obli -gated to pay
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower riay agree to extend.
<br />modify, forbear or make any accommodations with regard r, the terms of this Security instrument or the Note .%iihout
<br />that Borrower's consent -
<br />12. Loan Charges. If the loan secured by this Sccurn% Instrument is subiccl 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 i_- 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 (h) arty :urns aireadv collected from Rorrouer witch exceeded
<br />permitted limits will be refunded to Borrower. Lender may choosy to make this refund Ir. reducing the principal otyed
<br />under the Note or by making a direct payment to Borrower If it refund reduces principal. the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Noic.
<br />13. Legislation Affecting, Lender's Rights. If rnactinem or izxpiranon of applicable 1aA, has ilic ::Sheet ,,f
<br />rendering any provision of the Note or this Security Instrument unenforceable acciudutg tc, u, term,. Lender, at it, option.
<br />may require immediate payment in full of all sums ,ccu cd by this Security Instrument and ±nay "It,ke an% re-ncdwe
<br />permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps spccified in the second parigrtpi: of
<br />paragraph 17.
<br />14. Notices. Act% noucc €o Borrower provided for in tin, Security, histruirent shall he given h% delivering it or by
<br />mailing it by first class mail unless applicable law requires use of arolher method_ Eic notice shall he directed io the
<br />Property Address or any other address Borrower designates by notice In Lender Ain notice tr Lender shall be goer, by
<br />first class mail to Leizder's addnss,tated herein or any other acidre„ Lender designates by notice to Borrower A :y nonce
<br />provided stir in this Security Instrument shall to deemed to ll::vc heel, grrcn to Borrower or Lender when green :i, pr,i,ided
<br />in this paragraph.
<br />15. Governing Law; Se.erability. phi, Sreun;% Instrurrcn: ,hall iv o,1 :Tned by federal law ;:nd Inc laA of the
<br />jurisdiction in which the Prolcrt; ;s itxatcd In thec%ent that any nn�ca:oti or Claus a;` thl, SczuIii,. In,r -umcnt or thc•
<br />Notc conflicts wiih applicable taw, such conflict shall net affect =Ahrr procl,ion, (if dni S curvy 1n,t-tsrnent or the A<itc°
<br />which an he given cftr. t wuL'. >ut the conlltetn:g provvxrn To tins !id !tic pro' tsilvls:rf ;his Secure!: !r!,tr:iment a..,-
<br />Note are declared to he ,cierahlc
<br />lb. Borrower's Copy. Borrower shall lm git n onc; onformed a,ry r,l the N,zzc olii . i In:, Sc:ur,tN 1n,irtlrixni
<br />17. Transfer of the Property or a Beneficial interest in Borrower. If a}! r.r any par! f tllc
<br />interest it- it is old or imit,fcrrtt) ,6 If a hCnCt?ctal !ilterest •n Bo:!,,tk r'r !, ,t, }d nr liai:,'c'!'CO _In i zi
<br />pers,,n) Ailhout Lender., pr,r A'rilierl COtt,crt t. I; li i'r n!ay. al it, opt!nrl. r:Jt..': j, I� :c W in {1. ! 14all ''nni,
<br />scctned by tits SCCllrite in,t, ens Hr- wcccc.:nil etn,iI ,l1al' .. . hi: , ver,:,c:' tic i _,e :,c :, i n+tnted hr
<br />federal law a, of the date Athis Cccunt Inst rumeru
<br />If Lender exrrci,, tits < -pion, Lender she! 1 ei -e liorrc.avr,- n!cc n .. ._kri(o,n 1 k „ "ic- ilia„ en,i l „e: ; rn,aes
<br />c, t,'+t tell than gpdays front the (laic the ncd!ee is ch%e..oti Or n .::d wuiim iy11:,h •n..,: I'! ,I; n+ ,,,,.:d I
<br />this Securoy Gtstrunarrilt If Borrow er ?aii. a pay tLc,. __ In , i .r s. the .,e, ,, a.•%
<br />rCntedlc, lxrnrtted by this Security Instrument. un h; tul farther ut t;r, dcra red -.11 111' l,—r
<br />18. Borrower's Right to Reinstate. If Borowv, : cct, .trial Idai. -1,. li..r., c<. .;"wl zi,l,
<br />ell 7ri.. neat , securn. lntrun
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