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86- 1047-Q8
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument-
<br />Borrower Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />* y insurance terrnmates 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 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, 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 />a assigned and shall he 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 thin due, with any ex
<br />ees_s 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 fhl the fair market value of the Property immediately before the taking. Any balance shall be
<br />paid to Borrower.
<br />If the Property is abitndoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to
<br />make an award or scttic a darn for damages, Borrower fails to respond to Lender within V 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 />t nim, 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 rtferred to in paragraphs i and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Widirer. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any suctessor t
<br />interest of Borrower shall not operate to release the liability ofthe 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 />t payment or otherwise modify amortization cif 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 Fobearanct 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 mid Several Liability; Co- signers, The covenants and agreements of
<br />this Secunty instrument shall hind and benefit the successors and assigns of Lender and Bornower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shrill be joint acid several. Any Borrower whoco -sign, 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 to 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) attrecs that Lender and any other Borrower may agree to extend.
<br />modify, forbear or make any accommodattons 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 either loan chargcrs collected or to be collected in
<br />connection with the loan exceed the per»ntied limits., then: (a) an) ° such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to (lit permitted hmn, and (h) ant- stems alrendy collected from Borrower which xceeded
<br />permitted limits will Ac be refunded to Borrower. Lctuler may choc to make than refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. Ira refund reduces principal the reduction will be treated as a .
<br />partial prepayment without an) prcpaynient charge under the Note.
<br />13, legislation Affecting Lender's Rights, d' enactment or exp :ration 4 applicable laws has the c5ect cif
<br />rendering any provision of the Note „r this Security Instrument unctoforceable according to its tenets. Lender, at its option .
<br />may require unnirthate payment in full ilf ail only secured by this Sft,urity Instrument and may invoke any remedies"
<br />permitted by paragraph 19 If Lender exercises this:opt€ou. Tender shall take the siteps specified in the second paragraph of
<br />paragraph f'
<br />14. Notices. Any notice t„ B :mower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing n by first class mail unless applicable law requires use Of ans >ther method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender Any nonce to Lender shall be given by
<br />first class matt to Lender's address stated hereon tr any r,ther address I,suider dcsignates by rKLatce to Borrower, Any notice
<br />provided for in !hi, -Security Instrument ;hall e deer -° „l av tv n given to € ut —rower or Lender when given as provided'
<br />in this paragraph
<br />15. Governing Law. Severability, This Security Instrument shall he gtnerned by federal law and the law of the
<br />jurisdiction in which the Property is located, In the event that any provision or clause of this Security Instrument or the
<br />Note conthcts with appL'cable law, such imnfliCt shall rot affect other provisions ol'this Sravnt}v Instrument or the Note
<br />which can he given effect without the r�ntihesuig provision To this end the provisions cif this Minty Instrument and the
<br />Note are declared to be ses- ctablc
<br />I6. Borrower's Copy, Burr€ =wee shall tic given fine eanforinwi cerpy ,i {the Note and of this Security fustroment
<br />17. Transfer of the Property or a Beneficial Interest in Biturower, If all elr Any fsr- f the. 1'ro,ftert} of aii)
<br />Interest set it is sold or transferred for if a bencfictai interest iii B7rr,7werL5 w?ld „r transferred and Borrower fs not a natural
<br />person) without Lenders prior whiten conwim t endcr noay, at its 4tpnctin. remuiry irrunclUite paymeni in full c,tall sums
<br />secured. by flies Security lnstrume nl Howvver, tiers option ,Mill f,e "l he extis:ts f b� J oiler if r�crcl e a rr,va,6ired is,,
<br />i s a`. aw as urthe dale r,i tliisSe urnl Insrrumcul
<br />1f l,cnder cxerctse,� this ,iption, Len.;er %hail gist Bit, rirwer n,rnce 'If accelerati,in 1 he nr,tu:t %fiat! prrtottle a lxrx e9
<br />of ntrt le%% than 30 days from the date the notice is delivered in mailed within which Br =rrovi cr must Pay all sums wt utcd by
<br />this Security Instrument. H Borrower fails 10 I:wy thane sums pritu to the expiration ci this farrttal, [. idcr may i - sOi, airy
<br />remedies t>crmitfed by this Security IlistIuintnt withcout futIher nwtue ctr demand e7n l3sxrri.iwcrr
<br />18. Borrower's Right tic Reinstate. if Borrower meets certain ciindtuons, Tlorru%vr shall hall; the right to have
<br />trifrrcemerit 4 chi, cunt. Instrument discontinueii at ally litmr print tr.r the cather of 1al 5 days lair ;uwh ;,ihcr I rrte+d as
<br />Appio+.ahlc law ma% specify fear rein4taltinctio kvfarte sale ,il the lar or,ert} pur'nuaoi t„ any poli nil sale tiantatir,d in this
<br />txtutred1ilhruaknt, of fbi entry fif a tudgmew cn =+ruing this lic> unity Instrutneitt I how 'multn"It; me rhea ik,r>owra
<br />izxyv l ender all suiris wlruh then w+,u,ii be clues and r ttus Ssurott l,tsiru€rteat an". tlag `v nc fiae4 11 .,eirrwitfu
<br />1 r,w -s alit dclault .if ar,i f,thta 4r,vfii :at is �-r galgrxeniunts, tf,,Y l a6v ali rxlx race incurred rn ci1Y i rre� slits
<br />Naito Imirontent. alit lutitiik, t,at n„t limited t;,- rcasoiai*la ,,ivalwis" fei ,rill 1,0 r it .,% stt;_h s, ck,t, a, t nay} -
<br />rkaarrfwhl t+i fissure that the- Itch ,f .ht,. `w, -t uriti 1rsUU n,'ni, Lender's rixhr, ui ;Ins d' +, +1 ^it mtd them,
<br />cii�b.hgatu gee 1i - -ur a l l',, (Ill, yr ^trity Ir st €iant,`nf .Ball , [i tt jc „n tai t d I f r! t, sec,.,
<br />;p,rrbK s i ±.. "se fti +t 1 lfi , wu,,;i 't .lx 7 M 14, i4=air4 ee. .,r -r,f hart hi Ojii)1 refine u l =ill; +f. , , -
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