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<br />86-104110
<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. Condemnation. The proceeds of anv 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 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 Prnpertv.
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall he 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 ro 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 thesums secured by this Security Instrument, whetheror 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 lime f'or 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 exercisine 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
<br />Instrument; and (c) agrees that Lender and anv 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 if 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 to
<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 tit 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 he 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, al 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 N. 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 fir ua this Securey Instrument shall he gi%cn by deliycring it nr 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 h) notice to Lender. Any notice to Lender shall be given h%
<br />first class snail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Anv notice
<br />provided lie in this Security Instrument shall h
<br />in Chic paragraph. e deemed to have been gn en to Borrower or Lender when given as provided
<br />15. Governing Law: Severability. This Security Instrument shall he �,,rnerned by federal I;rw and file hoe ul the
<br />jurisdiction in which the Property is located. In the event that any provuton or clause of this Sccunty Ins[ ri ntent or tike
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrumcnt or the Note
<br />which can be given effect without tite conflicting provision. To this end the previsions of this Se,:unty Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall he gown one conti,rntcd copy of the Noic and of this Secur tN InsTrunwill
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or anv pan of the Properi. or ;ui�
<br />interest its it is sold or transferred ((it ifa beneficial Interest tit Borrower is sold or (r n,feried and Borrower I, not it natural
<br />Person) without Lender's prior written consent. Lender may. at its option, require unmediate payment tit full of At stints
<br />secured by this Security instrument However, tilts option shall not he c•xeicTsed he Lender it exercise is prohihitcef h%
<br />federal law as of the date of this Sccunty Instrument.
<br />[f Lender exercises this option. Lender shall give Borrower nuuce of acreiCrauon. The noucc .hail pro, ode a pern,d
<br />ofnot less than 30 flays from the date the notice is delivered or mailed w ith(it w tile" Borrower nmsl p;a) al: sums secured f>e
<br />this Security Instrument. If Borrower fails to pay thcsc sums prior I,, the expiraurm of this pet wd. I cndci nuo im„ke :;n,
<br />remedies perntted by this Security Instrument without further nooce or deniand kill Borrower
<br />18. Borrower's Righ; to Reinstate. if Borrower meets certain conduu,ns liorr, wcr ,fc,ll hake Tile right r, hoer
<br />enforcement of this Security Instrument discounnued ai tiny flow poor to the ranter .,I Iit) > d;,y, for ,uch •flier perm;
<br />applicahle law inky specify for rcinstaientenIi home sale tit nc� PropcII� pursuant To tun pow .T „f stale �.orfau,',i Tn (I;
<br />Security tnstruntern: or th) entry of a judgment cnforcrng This Vic,aunt} In.trunlcni I floc <<,n,Lti„ns ark ih;a H, rt,nerr
<br />(a) pass Lender all sums whteh then would he title under fhe Sccurlr) Instrument and t l \oic h, i n ac i ni ion
<br />cfecurred (b) cures any default of am other ,r+vroat is n age_ r i tit,. �, )sa„ all ripens s m,ut,cd .n utG, , „ti,
<br />Seux it v InSI Tic IT inckudmg, but rot bm Rd In. Ras II.IN'7 I ern ,s h:,:', am! , ,tic, si „h
<br />reasonably require to assure that file heft <,f Ihis Seca ?I% }ftstrt ui�a,t. 1 ..iJ; , T Ja,
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