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86- 106356
<br />If Lender required monpge 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 requireirmt for the
<br />insurance terminates in accordance with Borrowers 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 />"I give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condeaamtion. The pnxeects 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 />assigned and shall be paid to Lender
<br />In the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Security
<br />Instrument. whether or not then due. with any cxcess 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: (ai the total amount of the sutras secured immediately
<br />before the taking, divided by (bl 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 m writing, any application of proceeds to principal shalt not extend or
<br />postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br />i0. 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 to
<br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest
<br />Lender shall rot he required to commence proceedings against any successor in interest it refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument b% 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 afar preclude the exercise of any right or remedy.
<br />11. Successors and Assips Bound; Joint aid Several Liability; Co-signers. The covenant% and agreements of
<br />this Secunty Instrument shall bind and benefit the successors and assigns of Lender and Borrower..uhlcct to the provistom
<br />of paragraph 17 Borrower's covenants and agreements shall he joint and several .Any Borrower who co -signs this Secunt%
<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 terms of this Security Instrument: (h) a not personally obligated to pay
<br />the sums secured by this Security Instrument. and (c) agrees that Lender and anv tither Borrower may agree to extend.
<br />modify. forbear or make any accommodations, with regard ir+ 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 Secun!% Lusirument is %uhiect it, a lax whc xi
<br />it: sets maximum loan
<br />charges. and that taw is finally interpreted so that the riterest or other loan charges collected or to he collected in
<br />connection with the loan exceed the pertntrted limits, then. (al any such kran charge shah be reduced by the amount
<br />necessary to reduce the charge to the permitted limit, and (hl any sums already collected from Borrower winch 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 prepayment without any preptiymcirt charge under the Note
<br />13. Legislation Affecting lxnder's Rights. If enactment or expiration of applicable lawn has the effect if
<br />rendering any provision (of the Note or this Secumy Instrument unenforceable according to its term,. Lender. at its option.
<br />may require immediate payment in full of all sums secured by this Security lastrument and may invoke any remedies
<br />permitted by paragraph 19 If Lender exercises this option. Lender %hall take the steps specified in the second paragraph of
<br />paragraph IT
<br />14. Notk%%- Any nonce to Borrower provided for in this Securny Instrument %hail he given by delivering it or by
<br />mailing it by tint class mail unicss applicable law requires use of another method The notice shalt he directed to the
<br />Property Address or any other address Borrower designates by notice to Lender Any notice to Lender shall he given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice io Borrower Ary notice
<br />provided for in this Security Instrument diall be deemed to have been given to Borrower or Lender when given as provider]
<br />in ibis paragraph
<br />13. Governing Lsw; Severibilih. This Security Instrument shall hoc go%crrrrd by federal law and the law of the
<br />jurisdiction in which the Propertv i. located In the event that any provision or clausc of this Security Instrument it the
<br />Ncite conflicts with applicable law. such conflict shall nor affect other pro,iitons of this Security Instrument or the Note
<br />which can he giscn effevi without the conflicting provision To ihts end the pro %isrons of !his Security Instrument and the
<br />Note are declared to he sevcr.bie
<br />IC Borrower's CoPe. Borrower shall he given one conformed copy of the Note and of this Securry lnsirurr cw
<br />17. Transfer of the Property or a Beneficial Interest in Burrower. if all or any pa;; :3f the Property or any
<br />interest in it is sold or transferred ,or ifs tsenefcial interest in lorrower is cold or transfer rest anti Borrower is not a natural
<br />peruno without Lender's prior written ctonseni. Lender may at its option. require imiiiediate pay Melt! ui full of all sum,
<br />secured by this Security Instritrrent llowever. this option shall not hr ciercisrd bv_ t ender if eaercisc rs prolubnett by
<br />Ifederai law as of the date o *f *,fits Security Instrument
<br />If Lender exercise thts option, Lender shall give Burrower notate of acceiera i IA n i he rrst:_e shall ; r::rde a pot > +vi
<br />of not Its than 3Cldays fi -orn the date the notice is delivered rr mailed within w larch Borr,�we! niu"i pal ail sums -,cured m
<br />this Sccunty Instrument If lLaorrower fails to pay these sums prior tt tlir expirxtu,n :,f this Neon: t. I.enuri Wray invol c .ins
<br />remedies permiittcl by this Security Insirtrment wttheIn further ^orlon eat tlrniard t,t: Et ,rn,w cr
<br />18. Borrower,& Right to Reitastatr. If Beirvwer, ,nests certain conditions. Sorrok%c sha l haNc tlw right r? hair
<br />Cnk!nenient Of tht6 Sccuroty Initr,rtn €nt dis "antinuet at €any tirnr prior tt` the :° arltrr ,31 t<i) � O:AN, tot %uct;
<br />applic: ihl3 law ntav im 9y for retnstatsnientl N-fc *rc salt of the Pro pony tau - iza— }t tr, ii% i,, urr "I lalt,
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