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If lender required, murtgage insurance as a condition of making the loan secured by this Security In-
<br />strument, Borrower shall pay the premiums required ill maintain the insurance in effect until such time as a requirement for
<br />the insurance terminates in accordance with Bo ;rrower's and lende %s written agreement or applicable taw.
<br />g. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. lender shall
<br />give Borrower notice at the time of or 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 any
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of c ondemnatioe, are hereby assigned and
<br />shall be paid to Lender.
<br />In the event of a rural raking of the Property, the proceeds shall be applied dl) 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, unless
<br />Borrower and lender otherwise agree in writing, the sums secured by this Set curity Instrument shall be reduced by the amount
<br />of the proceeds muhiphed by the following fraction: ra) the total amount of rile sums secured immediately before taking,
<br />divided by obi the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages. Borrower fails to respond to fender within if) days after the date the notice is given,
<br />Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the
<br />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 nor 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 cif amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of
<br />Borrower shall not operate to release the liability of the original Burrower or borrower's successors in interest. Lender shall
<br />not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise
<br />modify amortization of the sums secured by this Security Instrument by reason of any demand made by theoriginal Burrower
<br />or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or
<br />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 this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower will) co -signs this Security
<br />Instrument but does not execute the Nore: i a) is co- signing this Security Instrument only to mortgage, grant and convey that
<br />Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the
<br />sums secured by this Security Instrument; and ±c) agrees that tender and any other Borrower may agree to extend, modify,
<br />forbear or make any accommodations with regard tz, the terns of this Security instrument or the Note without that
<br />Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum Iran
<br />charges, and that law is finally interpreted so a hat the interest or other loan charges collected or to be collected in connection
<br />with the Iran exceed the permitted limits, then: i a s any such loan charge shall he reduced by rile amount necessary to reduce
<br />the charge to the permitted limit; and i b) any sums already collected from Borrower which exceeded permitted limits will be
<br />refunded to Borruwer. lender may choose to make this refund by reducing the principal owed under the Note or by making a
<br />direct payment to Borrower. if a refund reduces prntcipal, the reduction will be treated as a partial prepayment without any
<br />prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering
<br />any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option, may require
<br />immediate payment in full of all sums secured by this Security instrument and may invoke any remedies permitted by
<br />paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of 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 Property
<br />Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail
<br />to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in
<br />this Security Instrument shall bedeemed co have been given to Borrower or Lender when given as provided in this paragraph.
<br />15. Governing Law; Severability. 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 chat any provision or clause of this Security Instrument or the Note
<br />conflicts with applicable law, such conflict shall not affect other provisions of this "iecurity Instrument or the Note which can
<br />be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are
<br />declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of 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 for if a beneficial interest in Burrower is sold or transferred and &)mower is not a natural
<br />petsi nl without lenders 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 federal
<br />law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower n oticeof acceleration. The notice shall provide a period of
<br />not loss than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums sectored by this
<br />Security Instrument if Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower
<br />18: Borrower's Right to Reinstate. If Borrower :meets certain conditions. Borrower shall have the right to have
<br />enforcement tit this Security Instrument discontinued at any rimeprior to the edtrlier of: ta7 ? days ;or such other period is
<br />otppliritble law'may specify for reinstatement? before saleof the Property pursuant til any power o f sale contained in this Se-
<br />curity Iniurument; or lb) entry of a judgment enforcing this Security instrument. Those conelitimis arc that Borrower. (a,
<br />pxysLcn erallsumswhichthe nwowddbedueutterthisSec urityinstrumentandtheNotthadnoaccelerate .utoccurrod,:b;
<br />ia r e s atsydefault of any (It her Cunvenentsot agreements; i c ) pays all expenses recurred in enforcing I I I s set a t av I ns[ not: Sett,
<br />including but;mx Iirmiteai to. reasomable attot eys' tees; anal i:1y takes such jown as Lettder may B rni- nahiy colour a, IN
<br />sure that the fleet of this Secutiry Instrument, Lethlcr's rights in tilt property and v ,_
<br />rr"%CI ;,ley a,ioE� , p.aN Ow Ii;n,
<br />.ecul*d by this purity lostrunitnt shall continue uochangt�d. 1 1,oll rtia<.latctnew In tkart ,c.e ti .s �,vtwt,1 to e ax
<br />3mi the chligations ceCUrc'i hetrbt shah rt wsm fully tffrxt -v as it tx, acicleraen r
<br />(vins.tatt shall sa K +pPly in the case of ,octrirraliexruntlea pattsol tapirs 15 or 1
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