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Is-
<br />86-- 105926
<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 Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or 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 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 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 restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to pnncipal shall not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs i and 2 or change the amount of such payments.
<br />10. Borrower Not Released, Forbearance By Lender Not a 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 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 />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 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 Assigns Bound; Joint and Several Liability; Co-signers. 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 and agreements shall bejomt and several Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is cc- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrower's interest in 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) agrees that Lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations 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 taw 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 permitted limit, 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 Note or by making a direct payment to Borrower. if a refund reduces principal, the reduction will be treated as a
<br />partial prepay ment 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 Secunty Instrument unenforceable. ccordmg to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may, invoke any remedies
<br />permuted by paragraph 19 If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17
<br />14. Notices. Any notice to Borrower provided for in this Security Instrument shall be 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 or 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 herem or any other address Lender destgnates 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
<br />in this paragraph
<br />15. Governing Law; Severabdity. 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 any provision 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
<br />16- Borrower's Copy. Borrower shall be green one conformed copy A the Note and of this Security Instrument
<br />17, Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Secuniv instrument
<br />If Lender exercises this option. Lender shall give Borrower notice of acceleration The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Setunty Instrument If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any
<br />remedies permitted by this Secunty Instrument without further notice or demand on Borrower
<br />18- Borrower's Right to Reinstate. If Borrower meets certain condirow, Borrower shall have the right to have
<br />enfor,:ement of this Security Instrument discontinued at any time prior to the earlier of (a) t days (or such other period a,
<br />applicable Sax may specify for retnsratemcm) before sale of the Property pursuant to any power of sale contained in this
<br />Security instrument, or (b) entn of a judgment enforcing this Security Inarwnerit I hose rond;tions are that Borrower
<br />(4t) pays Lender ali vums which then would be due under this Secunr, In,inimcnt and the 'rote hail r,r. ac.clrrah.,n
<br />o—urrcd chi surer any default of any tither covenants ut agreement, i, i ,n.,vs all c%ptn,r, ;n,urtcd in rnfor,nig thin
<br />e. eniv l :xrrurner.r. in,iuding, tout not brinted i , reason.rhk ari „rnrv, Ire, and rdi tikes •.u,h a: nor. a, I cndrt lua,
<br />rea—tiahly require t,• ssvurr that she her, r,f thiv `security in'ttur,u•rr• t . :dc!', ngh;, o.• :hc I';, it -rev a old Kvt.,..r; ,
<br />„hli)as :.a, ,, pa'1 the• ruin, vrcurrd rev !In, yetrirlt, (n,L..!nrnt .h.ili . 1.1 ...... . „h :;r: ( pin lcm,'ar<lnrn; by
<br />In,ir:urew ;r,od the s;.;:c,! herrh, . ur ..+ :a i. `u':tv r!lt•. r;.r r, ,! n. .r,. r,r r.it: n !oar!
<br />, wrr d H: ae,rr thi, nght to rruntatc ,hall not apply r. ohc• . e,,, ' 1111 ; h. '
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