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<br />10!3212
<br />If Lender required mortgage insurance is a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required «i maintain the insurance in effect until such time as the requirement for the
<br />insurance tennnales tit accordance wuh Borrower's and Lender's written agreement or applicable law
<br />g. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice al the time of or prior loan Inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connntion with
<br />any condemnation or other taking of any part of the Property, or for conveyance in hcu of condemnation, are h^_reby
<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 its abandoned by Borrower, or if. after notice by Lender to lkorrowcr that file 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 suits 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 I and 2 or change the amount ofsuch payments_
<br />10, Borrower Nut Released; Forbearance By lender Not ■ 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 onginal 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 mouldy amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the ongmal 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 As►igasr Bound; Joint and Several Liability; Cu- signer. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants end agreements shall he 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 terns of this Security Instrument; (b) is not personally obligated to pav
<br />the sums secured by this Security lnstrumcnt, and (c) agrees that Lender and any other Borrower may agree t:r extend.
<br />modify, forbear or make any accommodations with regard to the terns of this Security Instrument or the Note w.ohout
<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 in
<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 permittW limn; 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 Noie or by ak•ng a 'ire• : paymc^' 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 tin full of all sums secured by this Security Instrument and may invoke an) retnecdies
<br />permitted by paragraph 19. If Lender exercises this uption, Lender shall take the steps specified tit the second paragraph of
<br />paragraph 17
<br />14. Notices. Any notice. to Borrower provided for tit this Security instrunieni shall be given by delivering it or by
<br />mailing it by first class m of unless applicable law requires use of another incthrxf The nonce shall be directed to the
<br />Property Address or any uther address Burrower designates by notice to Lender. Any nrttce to Lender shall be given by
<br />first class mail to lender's address stated herein or any other address Lender designates ht nonce to Borrower Au) notice
<br />provided for in this Security IIISIrtiment shall be deemed ill have been given to [follower or Lender when given as provided
<br />in this paragraph
<br />is. Governing "w; Severabilay. This Security Instrument shall he ginerncd by federal law and the law of the
<br />3urisdtctt0n tin which the Properly is located- In the event [hat in) provision or clause of the 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 he given elect without the conflicting provision To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable
<br />16, Borrower's Copy. Borrower shall be given one conformed copy of the Noll: and of this Security Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any pert of the Property or any
<br />interest in it is sold or transferied (or if a beneficial interest in Borrower is sold or transferred and Burrower is not it natural
<br />person) without Lender's prior written consent. Lender may, at its option, require immediate payment tit full of all sums
<br />secured by this Security lnstrumcnt. However, this option shall not be exercised by Lender If exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lendei shall give Borrower notice of acceleration- The notice shall provide a period
<br />of not Ina than 30 Jays from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument, If Burrower fads to pay these sums prior to the expiration of his period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further ounce or demand on Burrower
<br />IS. Borrower's Right to Reinstate. If Borrower mccis certain conditions, Borrower shall have the right ill have
<br />enforcement of ills Security Instrument discontinued at any time prior to file earlier of (a) 5 days (or such Other period as
<br />applicable law may speedy for remstatcnivnf) Wore sale of [he Property pursuant to any power of sale contained in this
<br />Security Insirumenl; or (b) entry of a judgment cnfoo.ing ill's SoLumy Instrument. I hose conditions sire that Borrower
<br />(a) pays Lender all sums which then would be due under this Securoy Instrument and the Note had no acceleration
<br />,occurred, (h) cures any default of any other eovcnans or agrecruents, (c) pays all expenses incurred m ri loicuig this
<br />Security Instrument, mcluJnug, but not limned tit. reas.onuhle attorneys lees and (d) r.ikes sue -h actunt es Lender may
<br />reasonably require to assure that the lien of this Security Instrunnettt, Lender's rights tit the Properly and Ikurower's
<br />oblrgannn to pay fire wilts secured by this Serunly I11s`runtenl shall cimin iur unchangrcl Ulum renmarrrnrnt by
<br />borrowrr, Ihns recunty Insirument 311,1 Ihe"hhgalmli, sccuird herchy shill rrmam lolly rticouvc.i; if nu ac.rler,iuon hail
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