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<br />86- -104173
<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 />S. Inspection: Lender or its agent may: make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the timeof or prior to an inspection specifying reasonable 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 be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In tote 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 Instrurnent, 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 1 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 Leader 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 io commence proceedings against any, successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the suns 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. 1-he 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 onh 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 it law which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or ut he collected ut
<br />connection with the loan exceed the permitted limits. then: (a) any such loan charge shall he 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 he 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 it 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 instfmment unenforceable according to its terms. Lender, at its option,
<br />may require immediate payment in full of :ill 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 ti.
<br />14, Notices. Any notice to Borrower pr"yided for in this Security Irstrtuncnt shall he gi<en b} deli%cring 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 ally other address Borrower designates by nonce t" Lender. Any notice to Lender shall he given by
<br />first class mail t" Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall he deemed to havC been green to Borrower or Lender when g %cis as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall he o,erned h, federal law :+rid the law of the
<br />_jurisdiction in which the Property is ioc.ucd in the event that ally provision or clause of ills Sccur!tt Instrtment or the
<br />Note conflicts with applu:ahic law. such cuntlict shall not affect other pm,ts,ons „I tills Security Instrurnent or tite Note
<br />which can be given efrcct without the Conflicting provision ro thu rind the ; o%lions of thu Security instrument and cite
<br />Note are declared to be scyerabie
<br />16. Borrower's Copy. Bornrncr shall be rnv <n one omtomicd o,p„ of tile Notc .and „I this Securny Instn,mc!u
<br />17. Transfer of the Property or a Beneficial Interest in Borrower, 11 all or any part of the Propene or ;Illy
<br />interest in it is sold or transferred (,IT if a heneficial interest in Borrower Is sold or transferred and Borrower is not it natural
<br />person) without Lender', prn-,r written <oracnt, fender ntay, it us „I't,n. :. !ryuu. runr,i,alc h:, r.!rnl n, kill ,,. Ali sutas
<br />Seeured by this Securit} instrument liowc<er, this opnun shall nn; he eAe,<,s<•d h) L<nder ,I rserusc ,, },,„h;hocd h)
<br />federal law as of the date of this Securny Instrument.
<br />If Lender cxcrcixs Oils "pilot). Lender shall gn:c Borrower r:nu:c of accclrrdran l he nnU:C shall I,r,,,idC A Inrn,,ei
<br />I.not less than 3t)tlays iiorn diedate the notice nsdeli %eyed or milled wtth!n which Born. w :_r trust pay al{ irons sccutrd b,
<br />this Security Instrument. If Borrower Talk to pay these .urns prior t,, the exp :ration rd lilt, Ixnnd, I ruder nia.N nn„kr ,!m
<br />remedies permuted hS this lecurity Instrument without further uomcr or demand,m rlmn -cr-
<br />18. Borrower's Right to Reinstate. If Borrower meet, :crtaut wvuliUnrn, Bnrn,we . }!ail h:nc ill" rtC'ht lu ha,e
<br />entor :ernes! Cif this Security Itt,trumew dusc"nZilucd .!t any inne p!wl To the eancwt 1, .l ,I'll ale, p"nod a,
<br />apphtaf>iv I,!w may hcf,ire s,dc of till )'rgr:ln luusuai,l t,; ,;n•• },,,war ,,I ssle e,,nLtifwd ill !ht,
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