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86- 104664
<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 Borrowers and Lenders written agreement or applicable law.
<br />R. Inspection. Lenderor its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at. the timeaftir'pritw in an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award cr 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 Linder.
<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 set'ured 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 (h) the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Ikurower.
<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 io respond to Lendet 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 />tri the sums secured by this Security Inst rumens. 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 />prxipone the due date of she monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
<br />Ni. Borrower Not Released, Forbearance By Lender skit a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security instrumenl granted by Lender 10 any successor in
<br />interest of Borrower shall not operate to release the liability of the ongmal Borrower or Borrower's succeessors in interest.
<br />Lender shall not he required to commence proceedings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization ofthe suns sectored by this Secuiily Instrument by reason ckfany demand made
<br />by the original Borrower or Borrower's successors in interest, Any forbearancc by Lender to exeretsing any right or remedy
<br />shall not he a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several'LiabTity; Co- tagnem The covenants and agreements of
<br />this Securty Instrument shall bind and benefit the succrs and asstgnsof Lender and Borrower, subject to.the provisions
<br />of paragraph 17. Borrowers covenants and agreements shall beyriot 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 is mortgage, grant and convey
<br />that Htanvwer's interest m the Property tinder the terms of this' Security inslrumem: fb) is not licnonalh obligated to pay
<br />the sums s ecured by this Security It»trumeriL and (c) agrees that .Lender and any other B ilrrower may agree to extend,
<br />modify, torbear or make any accommodations with regard it) the terms of this Security Instrument or the Nine without'
<br />That B rrawet'sconsent.
<br />12. Loan Charges. If the Irian set used by this Security Instrument is sub)cei to a law which sets maximum loan
<br />charges. and that law is finally interpreted so that the interest or other loan charges collected (it it, he collected in
<br />connection with the loan exceed the permitted limits. then? (a) any such loan charge .hall he reduced by the amount
<br />necessary to reduce i he charge to the permitted limit, and (bj any sums already collected from Borrower which exceedr>d
<br />perInnitid limits will ke refunded to Borrower. Lender may, choose 14) make this refund by reducing the prxit-ipai owed
<br />under the Note rn by making a direct payment to Borrower. If a refund reduces principal, the reduction will he ireattd as a
<br />partial pmpayment without any prepayment charge under the Note.
<br />13. Legislation Affecting lender's Rights, If enactment or expiratitirt of applicable laws has the effect of
<br />rendering soy pro %ist(in of the Note or this -- urhy Instrument unenforceable according to it terms, Lender, at its option,
<br />may require immrdiate payment to full of ali sums secured by this Security Instrument and may invoke any remedies .
<br />perrouried by paragraph I v. If Lender exercises this option, Lender shall take the steps spccified in the second Paragraph of
<br />paragraph 17
<br />14. Notices, Ali., = o; 4,:e to Borrower provided for in this Security hutrumem shah he given 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 it any other address Borrower designates by notice to 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 f torrowet. Any notice
<br />provided for in this Sei urht Instrument shall be deemed tohayc been given to Borrower sir Lender when given as provided
<br />in this paragraph
<br />15. Governiag Law: Severability. This Secunny Instrument shall tv poi crned by Wet aI law and the lave of the
<br />jurisdiction ui which the Property is located In the evens that any provisic.n or claw (it This Security losircment or the
<br />Ncne conf cis with apphcable law. such :o:nfhcl shall not affect other provisions of tins Security Instrument or the oic
<br />which an be gown elfcct without the umfrctmg prosisa'i_ to this end the prsivk "iva of this Irtsirunicait and the
<br />lt,tc ar r ciCClared to be severable
<br />16. Borrower's Copy, dltirrrwer ihail br go en Cane C- Tif"finsd c'f' Elie N"'r.iid rl' ihis Smurtt*. Ii ?strun ?�rtt
<br />17. Transfer of the Property or a Beaefieial Interest in Borrower. It ail .,r am p aia =;t the 1'r.ip:rty Or atiy
<br />interest ut it is stud tx transferred tsar it a beneficial interest to Borrower is Mild ot transferred and Borrower is not It natural
<br />goons i without i_cndor'_s prior written 4onscllL l.rtider may-. at its union. require ntnmcdiatt Ps;) TIT
<br />Vir Ito fit i .rf,rll yu€trs
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<br />If Lrn ier excrci this Qiption, l crwer !,hail givc iitirroAct it +iTtce of acceleriUOn I'f c ne't shall prov ids; a Pecic
<br />='f neat lass thdiT it days from nhe'fate tine nt?tice is dolt, cred or mined wohrn whit,It Bono - or rntkst pay at3 Wuni. sc i,red Ely
<br />this ys* -'city lnxtrunirait. It horrowcr fails w pa,) then :+ ums profit to the ,stwraoo rl of the. pen, KL Icridet oiar ilia „i c ;mN
<br />reme%fitM pstrmlted by this..secunly instrument wtthout further nolicc or kireimad on Hot fowvt.
<br />18, Borrower's Right to Reinstate. If Hofrower moos tertsin condiltom' Hintomcr shall hwtie^ the right to deny
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