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86- 104175
<br />l' 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 />A. 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 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 lien 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 l 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 um any successor in
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers 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 hind 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 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 ill
<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 ofthe 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, fender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice. to Borrower provided for in !ills Security Inwunient shall be givcn 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 ism 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 instrument shall be deemed to have been given to Borrower-or Lender w hen givcn as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall he,,oNcrncd1 by tedetal law and the law of the
<br />jurisdiction in which file Property is located. In the event that any pr %ision or clause of this Security Instrument or file
<br />Note conflicts with applicable law, such conflict shall not affect other pro,i.rons of thus Security instrument or the Noic
<br />which can be given effect without the conflicting prosision. fo this end the pros Is1on, O f t ilts Security I list rn III gll and Itic
<br />Note are declared to be se%erablc.
<br />16. Borrower's Copy. Borrower shall be givcn one oltdorined ropy of I tic No;c and A till, Seeunty Instrument.
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or ifa beneficial interest in Borrower I, sold or it and Borrower is not a natural
<br />person) without Lender's prior written amSCnl, t'c11&t nlay. at rs l,ptwil. r'cyulr_' imm' -diatc p.nnlenl in full ,,t all ,lmis
<br />scoured by this Security Instrunment. Howc,er, this option, shish n,a hr ;_vc1, :,Cd h. Ixr,der :1 CsCrcuc is oh;hited by
<br />federal law as of the date of this Security Instrument_
<br />If Lcndcr exercises this option, tender shall give Borrower nolrce of accclerauou. 1 he notice shall pw� tde o period
<br />of not less than t0days from the date the notice is dehyercd or rnatled wnhum whtCh liotnlwa mu,l pill; al! -erns seCUred h�
<br />this Security Instrument. if Borrower fails to pay rhesc sunns prior tt, the eypiriown ;d this period. I Crider Inay rrneoke ;;r;.%
<br />remedies permitted by this Security instrument wuhout further nonce or demand tin 11Urrilwcr
<br />18. Borrower's Right to Reinstate. If Borrower roods certain Ciiildltw]I,. Br,rirnsCt ,hail ha,c the :;gilt to tt,l,e
<br />L enforcement of this Sr arty L ,mini •nt disonti m-% nr e prior to ,ht can „ r ! r 1,
<br />1pph,,AhIc !aw rna., spc, th t;,r rein tcrnen, 4cto:c iiic 011 1 epc :l, F unua ,. Allti 1-%S": �t ,.11 , twnc, in iii•.
<br />becunth iIvltrtlrilcIl:, n, (ht ertr, o! a iudzarcr,t 'till Sroiru; If1IirUM1 „ ! n:,,c Pa. 13_ rmwc�
<br />I_a) pays Lender Al sums "hell finch w,, tld he du,, U11dcr 'h,- Ae_ur., INIT. ;rd 1111 \rte ?mall ill' ;,r.i,.,zn
<br />'WCUrted. (b) 'Ill VI al:\ del :tilh 1f 11 .101L:r x„11:11..1,, ,17 in
<br />till -, Ar,1,. ,y !: r .nc• ;,.. ,. P7
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