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86- 105436
<br />If Lender required mortgage insurance as a condition of making the loan secured by tuns 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 Borrower's and Lender's written agreement or applicable law.
<br />8. inspection. Lender oohs agent may make reasonable entries upon and inspections of the Property. [tinder
<br />shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. "rite proceeds of any award or claim for damages, direct or cor.sequential, rim 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 it 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 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 (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 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 rcwtoralion or repair of the Property or
<br />to the sums secured by this Secunty Instrument, whether or not then due
<br />Unless Lender and Borrower otherwise agree Ili writing, any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and '_ or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Lixtension of the time for payment or
<br />modification of amortization of the sums Secured by this Security instrument granted by Lender to any successor Ili
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower', ,ucce%sors ul interest.
<br />Lender shall not he required to commence proceedings against any Successor ul 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 Borrower's successors um interest. Any forbearance by I ender ill exercising any nght or remedy
<br />hal
<br />sl not he a waiver of or preclude the exercise of any right or remedy
<br />11. Successors and .Assigns Bound; Joint and Several Liability; Co- signers. The Co,cnant+ and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the pro%isi m+
<br />of paragraph 17 Borrower's covenants and agreements shall he joint and Se,eral Any Borrower who co -Signs this Security
<br />instrument but does not execute the Note (a) Is co- Signing this Securil% Instrument onl to mortgage. grant and cone,
<br />that Borrower', interest in the Property under the term, of this Securay Instrument. (b) is not personall obligated Io pa,
<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 thi, Sec•unty Instrument or the Note without
<br />that Borrowers cones rot.
<br />12. Loan Charges. If the loan secured by this Security In,trurnent is %tlhlect ill ;n law w high set', rilaxltiltltll Ivan
<br />charges, and that law i, finally interpreted so that the interest or other loan charges collected or l,. he 'oliected nl
<br />connection with the loan exceed the permitted limits, them (a) any such loan charge +hall be reduced by the amount
<br />necessary to reduce the charge u, the permitted limit: and (b) any sums already collected front Borrower which exceeded
<br />permitted limits will fie refunded to Borrower. Lender may choose to make this refund by re•dming file principal :Hued
<br />under the Note or by making a direct payment to Borrower. If a refund reduce principal, the reduction will he treated a, a
<br />partial prepayment without any prepayment charge under the Note
<br />13. Legislation Affecting Lender's Rights. if enactment or explrarton of applicable law+ has the effect nl
<br />rendering any provision ofthe Note or this Security Instrument unc•tlt xceahlc ai-cordtng Iu its tern [,. t ender. at its option.
<br />may require immediate payment ul full of all Sums secured by this Security Instrument and may % in„ikc any remedies
<br />permitted by paragraph It) If Lender exercises this option. I ender Shall take the steps Specified in the Second paragraph of
<br />paragraph 1''
<br />14. Notices. Ant nouee it, Borrower nro%ided for Ili Ihn Security Instrument ,hall hr gr, en h, dch,cnng it or h,
<br />mailing it by first class mall unless applicable. law requires use of another nlcihod the nonce shall be directed IA, the
<br />Property Address or any other address Borrov.cr designates by notice to Lender Any notice tin Lender Shall he gl,cn h,
<br />first class mall to Lender's address Stated herein or any other address Lender desigilale by notice In Borrower ,any none.
<br />provided for in this Securny ln,irumenl ,hall be deemed u, hate been ,avcn to lil,rro„er or Lender when given a+ pros Ided
<br />in this paragraph.
<br />15. Governing Law; Severabifity. I his Securay Instrument Shall h- ,,, Crnrd h, tcdrral Lm :ind tit- law ,,l iiic
<br />jurisdiction in witch the Property is located 111 thee,eni that any pro,t,um or,lauSC tit IIIIS Sciurlt, Itl,llnmCuI nr the
<br />Note conflicts with applicable law. Such conflict shall not affect oilier prmi,ulns of this secuniy In,irunicnt or the \1,1c
<br />which can be given effect without the conflicting procuion. Lo this end file pru,i,wn, of till, security In,irunlcni and mt
<br />Note are declared to be severable
<br />16. Borrower's Copy. Borrower shall t+e elver. tine c,vliiunted cop, o !lie \ „ir 11111 01 Ili„ sCenrtl, ln,truil n;
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property it en,
<br />uierest In It IS sold or transferred (or If a henclicial interest Ili Borrower is sold or transferred ani' Iloinowcr is Writ a natuta!
<br />persotu without L cnder's prior written consent. Lender may, at us rg1tion, require 11111TlCtilatC payiriCnt n! fall „1 .iii sum,
<br />secured by this Security Instrument Howc,,er, this option Shall not he exeiowd by Lcndci it cxcrrisc 1, ju,,hihocd L,
<br />federal law a, of the date of this Securn,, Instrument
<br />If Lender exercises Ill, option. Lender shall gt,c borrower Ila,u,C of aSccicratiun I hr n,,L11C ,)roll j,i• , ntC .1 Penrod
<br />of not less than 30day, from thedate the notice isdch,cred of mailed withlu which liorlo%kcr 11111,1 ha, ail sun:,,crui tl h,
<br />this Security Instrument. If Borrower fails to pay these,unns prior to the expiration of this pen, vl. I older ntay ,n,,,kc an,
<br />remedies permitted by rhl, `±c°curity Instrument wathotn further nonce: r demand oil boy ri,wr:
<br />18. Borrower's Right to Reinstate. If Borrower meets certain rondoamns. Billiowcr ,hill hale the invili to ha,c
<br />enfoicemcnt of this Security lnsirument chscontlaucd at any title print to the carlwi „f tai ` day, ton ,h -iihct pt. r:o,i a,
<br />applicable law clay Spectft for rcinstatcmentl bet-me Sale of the Propert} pku�uanl to my p wc• of sal, . ,Il ur,d ni lit,,
<br />Securely 1n,trumenr, or fb) entry of a judgment cntor,mg ills Scclarily 11117rumcnt I ho,c :,,nd1u„n, 11., !ll.ii Wl r,
<br />(,+) pay, f ender all sulks which then would t,r clue under this Srcunty lusrilinicnt ,iii Ili, \,rc had 71, .r,rirr,,n„n
<br />,.0 curred. (b) cures any default of any other cr,,rnanlS of agrecnlew, 1, f pa,S a!i cxl•rli,r, ,n. iinr,l :n � ,,L ,, 111 Ohl.
<br />5ccuroy Iti,irunivot, in luding, but riot limner! In. reasonable attorney ires. 31"1 !d; 14k_, —0, —l""i .,, I rrJri .na,
<br />reuwlaably regturr +n ,u,urc that the lien of this securlty Inslrunicill. I -[,(let's 11 1:111, ni iiic i'fopt,t, .n..' !t ,,,, .
<br />nbligatt,tn ti, ha, If,,: ,uni, ,c, ulci.l by tun, sccatrll, instrument Shaft ^iodic ,ii., hei:p•c,.! t
<br />lklrc,wes. Ills Sox urlly In,trun,cnl and the obltgalwn, sceurcd hctchl. ,hall rrm.l m I,.. i.,, a ,•r
<br />w,td Hr,w-,crr, Olt, tight fe, rcul,tate sh:+ll rite appi, 111 1h'. caw- 't a.,c 1. .1,;�, ;•., , + •,
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