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86. 104005
<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. Lender or its agent may snake reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of 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 be applied to the sums secured by this Security
<br />Instrument, whether 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 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 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 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 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 he 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 and agreements shall bejoint 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 of this Security Instrument: (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument: 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 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 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 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 prepayment charge under the dote.
<br />13. Legislation Affecting Lender's Rights. if enactment or expiration of applicable laws has the effect of
<br />rendering 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 paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for it, this Security instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be 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 Instrumeni shali be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Lair Severability. This Security Instrument %hall he governed by federal law and the law o f t he
<br />jurisdiction in which the Property is fixated. In the event that any provision or clause of this Security Instrument or the
<br />?dote conflicts with applicable law, such conflict shall not affect other provisions of this Securitil, Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy olthe Note and of thr, Secunte Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or an',
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Horrcraer a not .1 natural
<br />person) without Lender's prior written consent, Lender may, at its option. require inunediatc payrnent in full r.f all sums
<br />secured by this Security Instrument flowever. this option shall not be eu ^,rued by Lender if everc1se is prohibited h%
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option. Lender shall give Borrower notice of acceleration -1 lie notice shall provide a perod
<br />of riot less than lO days from the dine the notice Isdehi cred or mailed within which Borni"cr muyt pat all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of ibis period, Lender mart in:ohe ;;ns
<br />remedies permitted by this Security instrument without further nonce or demand on H „riossci
<br />18. Borrower's Right to Reinstate. If Borrower meets certain condilinns. HorroHer shall base the nc,itt I hale
<br />enforcentcni of this Security Instrument discontinued at any time prior to the ca r-hei of (;o I days i.,r
<br />applicable taw may speedy for ren,staterrtcn1) before sale of the Property pursuant tn.im po,ucr of sale cont.uned n. rills
<br />Security instrument. nr (b) entry of aju,:lr;tarnt vnforcutg this Seeurity Instrunitr.r Ihow u,lldlllona arc that
<br />la) pay, Laidcr all mans whtch then would he due under this Security [nst rurrtent and I'll. N,,ic had n,: ., .clrrain,:.
<br />�x.currcd, (b3 Lures ;w, default of ;bay ,other covenants or agreeiucixs. (i 1 l,a�;s all crpemc• m1 erred n; emL..u>• ih.s
<br />Sec_irrtp instrument. including. !ttn n.,i it
<br />rnOed tit, reasonable atn,fneys fees and ldt t.rkcs -Ll,h 1,1�011 J1 1 c „1rr r:.ts
<br />reasi nahly fe,iarrr to assure :hat the lien i,i this Sci,y:rrty I„s;nirment_ 1 .rndcr. is):hr..n
<br />ohl:gali.rn i pa ihr •ms ,urrd 6 th..” Sc vivy Instr;rrivi't ,hall — vi!uuc .nr .`- ,nni,ia I 1� „r err.•.
<br />f3 xt. - t th+s Nc, vasty In f!livirnt and Ilhe iiwtgatio . <. arc-d heieh� ,h. iii r, -mast '.. '. ,�`l,•. ;•�; .i; 1 i.., ..
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