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i' I V 2771 )'fi,
<br />If Lender required mortgage insurance as a cot)ciition of making the loan secured by this Security instrument,
<br />Borrower shall pay the premiums required to mainttdtr the insurance in effect until such time as the requirement for the
<br />insurance terminates in accordance with Borrow er'sind Lender's written agreement or applicable law.
<br />8. inspection. Lender or its agent MfUll, 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 arty 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 tire Property, the proceeds shall hC applied to the sums secured by ihis'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 ix, 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 riot 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 Borrowers successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not he a waiver ofor 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 Securitv 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 riot 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 secumui 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 he collected in
<br />connection with the loan exceed [he 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 Lcnder exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower pmyided for in this Security Instrument ,hall be given by delivering it or by
<br />ma:Iing it by first class mail unless applicable lavy requires use of another method. The notice shall he directed to the
<br />Property Address or am other address Borrower designates by moticc to Lcnder. AnS notice ill Lender shall be given by
<br />first class mail to Lender's address stated herein or any other address Lcnder designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shah he deemed to hate been given to Borrrnvcr or Lender wizen gtycn as provided
<br />in this paragraph.
<br />15. Governipg Law; Severability. This Sccurnv lnstrument shall he coven •d by Federal lavv and I)tc law of the
<br />jurisdiction in which the Property is located. In the event that any pro%isum nr clause of this Securitv Instrument or the
<br />Note conflicts with apphcabic Lm, -,Lich conti;,t shall not affeci other provisions of tills Securitv Instrurent or the Note
<br />Much can he given effect without the cortlicung provision To this end the provisions of this Securitv Instrument and the
<br />Note are declared to he secerahlc.
<br />Ib. Borrower's Copy. Borrower shall he green one confirmed copN of the Noic and of ;his Secmilt Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or arty hart ,,f lit,- 1'roprrt) nr :mv
<br />inIeres! in it is sold of I, ransleried (nr if a hencticia! tnterc,i m ill ower is ,old or tran4k'r;'ed and I ill rrower:. n1`t a n;trural
<br />P-rsoII) xrithout Lc rider's prior wnttell conscnl. Lender ma, , al it, option. require i n icdtane par n,w m fail .o. ail >u ms
<br />urcd by this Sccuro% I lilt r IM) c•ra iltovycvcr, tills option shall not he cxcrctscd by I.cn Ice it c\crc,sr i'!olrhnc,1 h',
<br />i1'xier�ri law as oFthe iiaie ofiitis )ecurin lnsirtunent
<br />it Lcndcr,xc;ciscs till, opion. I cnden shall gr,e Borrokki r nc,Uce oFaccelerrttnn t he !il,ticc.lsili pr.xi,ic it pcn,,,a
<br />ill not less than 3l days from ihedatc tine nciu.e i, dclivcrcd ur m:oivd within vvhtch Borr,nvcr ❑:u,t pay all sums u°cur;.-d by
<br />tills Sccurrty Instruntetit It Borrower fails to par thc,e .isms pncx to the• cvpiraunn of this pen,oa. 1 ender !,i:iv urv,cke
<br />remethcs permitted by the, Security Instrii rte %,ohout turtl)et n tic r em;,n 1 ,r H-1—ill-
<br />18, flnrnreer's Right to Reinstate l+ Mir , v. r ..c t :rt at nllu., n . h• u. vv „ill n r
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