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86--4,104203
<br />If lender requited rl�tt VF ,i"IDurance as a condition" of making the loan secured by this Security Instrument,
<br />1 Borrower shall pay the premiums requited 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. fgeetlon. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or _prior to an inspection specifying reasonable cause for the inspection.
<br />'. CAndginuldne. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned
<br />and sW be paid to Lender. bed to the "sums secured by this Seeurity
<br />In the event of a total taking of the Property, the proceeds shall be app C pert
<br />Instrument, whether or not then due, with any excess paid sum�ecu secured by this Security Instrument nt shall be reduced by he
<br />unless Borrower and Lender otherwise agree in writing,
<br />amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to
<br />Borrower.
<br />If the Property is adandoned 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 anion of proceeds to principal shalt not extend or
<br />Unless Lender and Borrower otherwise agree in writing, any application
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />m
<br />le*. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification
<br />of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower
<br />shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be
<br />efuse
<br />required to commence proceedings against any successor in interest or r to extend time for payment or otherwise modify
<br />amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
<br />Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shalt not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />11. Snecaars and Assigns Bound; Joint and Several Liability; Co- signers- The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of lender and Borrower, subject to the provisions of
<br />paragraph Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security
<br />17.
<br />instrument only to mortgage, grant and convey that
<br />Instrument but does not execute the Note: (a) is co- signing this Security
<br />Borrower's interest in the Property under the terms of this Security Instrument, (b) is not personally obligated to pay the
<br />sums secured by this security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Securitv instrument or the Note without that
<br />Borrower's consent.
<br />12. Lou Charges. If the loan secured by this Security instrument is subject to a law which sets maximum an
<br />charges, and that law is finally interpreted so that he interest or other loan charges collected or to he collected in connection
<br />with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce
<br />the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be
<br />refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making
<br />a direct payment to borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment w•ihout any
<br />prepayment charge under the Note.
<br />13. Legblatioe Affecting Lender's Rights• if enactment or expiration n1' applicable laws inns the effect of rendering any
<br />provision of the Note or this Security Instrument unenforceable according to its terms, lender, at its option, may require
<br />immediate payment in full of all sums secured by this Security instrument and may invoke any remedies permitted by
<br />paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 11.
<br />curity instrument shall
<br />14. Notices. Any notice to Borrower provided for in this Se n otice shall be directed to the be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. 'The n
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first
<br />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 when given as provided in
<br />this paragraph,
<br />15. Goveming Law; Severabitity. This Security instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that at., provisions 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. of the Note and of this Security instrument.
<br />16, Borrower's Copy. Borrower shall be given one conformed Copy
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the Property or any interest in it
<br />is sold or transferred (or if a beneficial interest a Bor`owortion ore require immediate payment in full of all sums natural
<br />ecu secured by
<br />without Lender's prior written consent. Lender may, a. p q
<br />this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal taw as of
<br />the date of this Security instrument.
<br />if Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of
<br />not less than '240 days from the date the notice is delivered or mailed within which the Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />, porrawar's Right to ReiMate. if Borrower meets certain conditions. Borrower shall have the right period have
<br />Iii.
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) ?days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security instrument; or 1b) entry of a judgment enforcing this Security instrument. Those conditions are that Borrower: (a)
<br />pays Lender all sums which then would he due under this Security instrument and the vote had no acceleration occurred; (b)
<br />cure* any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument,
<br />includrog but not limited to, feasor[able attorney'+ fees; and (d) takes such action as Lender may tcasonahly require to assure
<br />brat the lien of biro ?ttiurity instrument, Lender's rights i the Property and Bortos er'. obligation to pas the sums setnred
<br />be' this uvuv (n:strument shalt continue unchanged t.p"t t reins atemeni !v Borrower. this �r � tip leis r ttnert nd the
<br />,rbtigation, secured hereby rlsail remain fully effroive as if n,. had or.corretl. Hnwerr !.his n hl :c :in:iaei :f ±all
<br />nun at*P4v m he of e of a.•+:eterar'wyn u.;cler .•arrpraPt`" { • f'
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