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s 10707#2
<br />It Lender required :nOrrgage ntsurarntc a wnd+r 11 a inakinc the It,an ,etund by th." �c:urin I:;
<br />strumerrt, Borrowers halipay' thepremium, rcgo)rc•d� III m,unt, III( hemsuranu III( tic, Iuntilsucht +rne.�,_+rcyutrrnicntft'r
<br />the insurance rertninates in attordantc ".th Burrowers and 1. +c n,itr S wntten AgIV( n:ent Or .tl.hlikablr law
<br />8. Inspection. Linder or ir, agent may make reasonable mine, upt,n and ;nspcenons "1 : h l'r. pert} l: n,l, r .ha h
<br />give Burrower notice at the time tit or prior to an tn,pcctinn sf- ,cut)uIg rcas+nl,Ablc tausc Gtr the msprcuon
<br />9. Condemnation. The proceeds of arc atcard ur claim ttor dantagc>. iircct ,r: mrqucntt,il. is e+ nicer +,n „ith :tic
<br />condemnation orzxher taking of any part of rho- Property. or furrnm.t'ya te 1n I It: U Of umde•rrr flat Ion..!I t- hcrchy asstgned and
<br />;hull be paid to Lender.
<br />In the event of a total raking of the Property, the prueeds shall be ,tpphed to the sumo Secured by this hecunt:
<br />Instrument, whether or not then due, with any excess paid tO Burrower In the event ni a partu l taking of the Property. unless
<br />Burrower and Lender utherw use agree in writing, the sums wkUT •LI by this 5ecunr: f rot nurent shall lx reduced by t he a :nt)unt
<br />Of the pri.ceds multiplied b} the following fratnon ta, the total amount of the smns secured immediately before raking,
<br />divided by !b) the tarr market value of the Property immediately before the taking Any balance shall be paid n) Borrower.
<br />if the Property is abandt)ned by Borrower, or if, after nonce by lender ro Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fads to respond to Lender within �O days after the date the nurice is given.
<br />Lender is authorized to collect and apply the proceeds. at its Option, either to restoration ur repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then diet•
<br />Unless Lender and Burrower other%&Ise agree in w•riong;. any applicant on of proceeds to principal shall nut extend or
<br />pt)stpone the due date of the monthly payments referred it) in paragraphs 1 and L or change the anxount 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 interest of
<br />Burrower shall not operate to release the liability of the original Borrower Or Borrower's successors in interr.•st Lender shail
<br />not be required to commence proceedings against any successor to interest or refuse to extend time for payment tar Otherwise
<br />modify amortization of the sums secured by this Security Instrument by reason Of any demand made by the original Burrower
<br />or Borrowers successors in interest. Any forbearance by Lender in exe'rosing any right or remedy shall not Ix 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 Burrower, subject to the provisions of
<br />paragraph 17. Borrower's covenants and agreements shall be joint and seycral Any Burrower w hO cu -signs this Security
<br />Instrument but dues not execute the Note: (a) is co- signing this Secunty Instrument Only to) mortgage, grant and convey that
<br />Borrower's interest in the Property under the terms of this Securiry Instrument, tbu is not personally Obligated to pay the
<br />sums secured by this Security Instrument; and tc r agrees that Lender and any other Burrower may agree to extend, modify.
<br />forbear or make any accommodations with regard to the terms 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 loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to becollected in connection
<br />with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce
<br />the charge to the permitted limit; and (b) any sums already collected from Burrower which exceeded permitted limits will be
<br />refunded to Borrower. Lender may choose too make this refund by reducing the principal owed under the Noteor by making a
<br />direct payment to Borrower. If a refund reduces principal, 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, ].ender, 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 Burrower 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 w Borrower. Any notice provided for in
<br />this Security Instrument shall be deemed to have been given to Borrower or ]ender 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 that any provision orclause of this Security Instrument ur the Now.
<br />conflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note which can
<br />be given effect without the conflicting provision To this end the provisions of this Se m itv Instrument and the dote are
<br />declared to bt 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 ur any part of the Property or any
<br />merest in it is soldor transferred for if a beneficial interest in Borrower is sold or transferred and Borrower is not a n.trurai
<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, thisoption shill 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 shailgive Borrower notice of acceleration. The notice shall provide a pern-d of
<br />not less than 30days from the date the notice is delivered or mailed within which Borrower must pay ail sums secured by this
<br />Security Instrument. If Burrower 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 un Burrower.
<br />18. Borrower's Right to Reinstate. If Borrower nit-cis certain conditions, Borrower shall have the right n) have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier Of tat ; days 1017 such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to any power of salt-contained in this Se-
<br />curity Instrument, or (b) entry of a judgment enforcing this Security Instrument Those amdition, are that Borrower. (.)
<br />pays lender a l l sums which then would be due under this Security Instnnrttnt and the Noce had no ac(rk r,unm uku :lrcd, + b t
<br />s ures any default of .toy other convenatrts or agreements: (c i pays ail expenses incurred to c•nforc tng this tick w -icy 1 nst n±tncnt.
<br />Including, but not limited to. reasonable ati,novys' fees, and I& *.akys such action .0 Lt•nder 111,1% IVASOnablc reguuc to a,
<br />sure that the lien of this Se- curuty Instrument, Lender's lights vo the Propx'rty and H,m,mcr s ,11,hiz rOn a.t pac Hie ,unl,
<br />sutured by this >etiurity Instnuntnt shall continue unchanged f `lxut hN lt.rnowcr- this So"m , tnsttantcnt
<br />and the Oblogatiw,t secured hereby shall terrain fully etfecrve as if nu atccicrau„n hail , .et :rt<•,4 fl +nk_tor. !ht, ucla o,
<br />reinstate s1a11 rri�t apply to tilt east. of actelatatiun wider ;,atagl phc 1; or i
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