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86- 145983
<br />If Lender required mortgage insurance as a condition of snaking 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 />S. Inpectioo. 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. Condensation. The pros -ds 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 he
<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 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 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 to 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 cox enants 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 he joint and sex eral. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Secunty Instrument only to mortgage. grant and comey
<br />of
<br />that Borrower's interest in the Property under the terms 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 Se:unty 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) am such loan charge shall he 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 male 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 prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Iender's Rights. If enactment or expira:on 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 tit full of all sums secured by this Securny Instrument and may insoke any remedies
<br />permitted by paragraph 19 If Lender exercises this option. Lender shall take the steps specified tit the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for to this Security instrument shall be etsen by delivering 1[ or hx
<br />mailing it by first class mail unless applicable law requires use of another method The notice shall he 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 mail to Lender's address stated herein or any other address Lender designates hx notice ui Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to ha%e been given to Borrow er or Lender when given as proxided
<br />in this paragraph.
<br />15. Governing law; Severability. This Security instrument ,hall be go,erned by tederai law and the law of the
<br />jun%diction in which the Property is located. In the event that any prrctsion or clause of this Security Instrument or the
<br />Vote conflicts with applicable law, such conflict shall not affect other proxisums of this Security Instrument or the Vote
<br />s,hich can he gntn effect without the confllcong pn.cision Toth :s end the pin resins of this Security Instrument and the
<br />?Vote are declared to be severable.
<br />16. Borrower's Copy. Burrower shall be given One conformed copy of the Noic and of this Smuntx Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part If the Property or any
<br />interest in it 1s sold or transferred for if a heneficial Interest in Borrower s 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 trill of all sums
<br />secured by this Security Instrument. However, this option shall not he exercised by Lcmicr II csercise is prohibned by
<br />federal law as of the date of this Secuntx Instrument
<br />If Leader exercises this option, Lender shall gr.e Borrower notice of acccic•ranon The rte seer shall pn +xtde a period
<br />Of not less than 30 days from the dare the nonce i, dehxeied or marled within which Borrower nu;,i pay all sum, se, ured by
<br />this Security Instrument. !f Borrower fa:b to pay these suns prior to the expiration of thn period. I ender ntay nN oke any
<br />remedies permitted by this Security Instrumcnt without further notice or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meets certain condition%. Borrower shall hate the tight a, hasc
<br />enforcement of thts Securiny Instrumcnt discontinued at any trine prior io the earlier of (a) 5 dax, (or such other pernvt as
<br />applicable law may spc"f) for roust atcawnu before ,ale of the Property punu;itu to .sly poser ,,f ,alc ,onl.uncd m t III
<br />Security Instrument or lb) entry of it )uetgntenl ell litrcmg this Security instrument I hose• .ondition, arc IhaI Botmwer
<br />(a) pa), Lender Al suni, which then would he duc under this Security lr[strnncnt and the Note had n,• 'i—d"l.,lion
<br />(kcurred, ih) sure, any defaull of ,any othct cmcuaot, or agreement I; I pa„ all c,pemc, in.urred III rnlor.inI! the,
<br />'hv it! II lu,iruntcnt. utehldulg, hill not hurried to, reasonable altornc.%% te;•, and tdt ;eke, i+ a,n,ro .i. (, n.irt ni,tt
<br />rea,ottahh requite t,, .t„ure Owl the lint[ .d this Se,uro% hlstntment. I CII&: , tights In the )'!1'I,tn
<br />ob4av,:1 t„ pay the ,uni, w,uted by !his tecuiuy irt,tniniclit .hall ,nU Vntr ur.. har,ie:: t u, r,re1 M
<br />K,rr:,wer thi, Sctcurtly ilntrumcm ;::r1 the ohitgeiton, se,_ured hoot, ,It III re:ue,n lull. rl]r, 1n. n :, �i.• :.• r.- ,., „ I. ,,l
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