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gs. 204009
<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 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 reasonable cause for the inspection.
<br />9. Condenuiation. 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 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 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 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 io 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 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 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 in this Security Instrument shall be green 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. Anv nonce
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />to this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall he governed h_v '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 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 of the Nate and of this Secunrx instrument
<br />17. Transfer of the Property 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 iii fuli of all sums
<br />secured by this Security Instrument. However, this option shall not txr exercised by Linder if exercise a prolnhued by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this opt Lender shall give Borrower notice of accele rat ion The notice •hall pro%ide. a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured h%
<br />this Security Instrument. If Borrower fails 10 pay these sums prior to the expiration of th;% pc•r,xi. Lender n,a. ui%okc anx
<br />remedies permitted by this Security Instrument without further notice or demand on Barris;. er
<br />18. Borrower's Right to Reinstate. If Borrower meets certain conditions. Barr„aer .tai! taavc the right n+ ha,r
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier c,! tat ` days for such ,rttier perl,Ki .i,
<br />applicable law may speed) far. remstatcmant) brhxe sale of the Property pursuant t, ::n, rN�arr +,f salc r+nrramcd ut this
<br />Sccurity Instrument, or (h) entry of A (udgmen! enforcing this security Instrument Thou c,,ndnuan arc th:tr K,!n,cscr
<br />(a) pays Lender all sums which then, would he due under this ,, ' insirurnent an,i ti,c ,ti,;tc had •,,, n,.c °lcntr,vt
<br />""urrcct. ihi curt'? ai » default of a- other covenants or agrcenients: ic) pays all rxperrsc� nt�usrcd m _ra;,,,n,c flu•
<br />Security Instrument_ uriudutg, but mot limited to. rca onahle attorneys' tins, and tO I ink, :, ��, n .a,!Ion .i, I '-d' I Iris,
<br />rea+xniah s regmrc i,3 ;issurc that the lien of taus S+-, -urtt Instrument' lender `. •i:;!,:, m r „ !' >t, :i !i, ^r•r,ur,
<br />a•. the ^.amts r.:urrd hi this Security Instrument .hall ,_,nr,:rc:c• •r_k,a••c• i s r+,. „i,;,;r,tcy,i t,
<br />l',ar Rc;us tiecunsy 1- �iriumrnt and tht ntiht{atior,s secured hereby sh^rli r,m:av
<br />,>c.c:urrr,c; 11�.�ercr, Fins aghr 'I:i rcnnstatr .hail nc,Lapp!p ui the �asc cif ac. c., �r:a a,n�
<br />d.
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