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86- 107370
<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 />a. ItspecdoiL Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the tittle of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds 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 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 he 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 Secunty 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 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By fender 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 he 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 b% 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 hind and hencfit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17 Borrower'% covenants and agreements shall he joint and several Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note. (a) a co- signing this Sec urn% Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the terms of this Secunty Instrument: (b) I% 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 term% of this Security Instrument or the Vote without
<br />that Borrowers consent.
<br />12. Loan Charges, If the loan secured by this Secunt% Instrument is subject to a law which sets maximum loan
<br />charges. and that law is finally interpreted so Shat the interest or other loan charges collected or to he 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 Mums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make the% refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower if a refund reduce. principal. the reduction will be treated as a
<br />partial prepayment without any prepayment charge under the Note
<br />13. Legislation Affecting tender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or rhis Security Instrument unenforceable according to its terms. Lander. at its option.
<br />may require immediate payment in full of all sums secured by this Secunty instrument and may Invoke any remedies
<br />permitted by paragraph la. if Lender exercises this option. Lender shall take the Miep%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 b%
<br />mailing it by first class mail unless applicable law requires use of another methaxi. The nonce shall tie 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 herein or any other address Lender designa c-% by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall he deemed to have been given to Borrower or [ender when given as provided
<br />in this paragraph.
<br />Is. Governing law; Severability. This Securty Instrument %rillj he govkirned h_v federal taw and the law of the
<br />jurrsdiction in which the Proper.% is Located. in the event that any provision or clause of dn% Security instrument or the
<br />Vote conflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument OF the \etc
<br />witch can be given effect without the conflicting provision. To this end the provisions of tics Security lnstrunlcor and the
<br />None are declared to be severable.
<br />16- Borrow'er's Copy. Borrower shall be given one conformed copy of the Note and .:f •his Securi ty Insir unicnl
<br />17- Transfer of the Property or a Beneficial Interest in Borrower. It all or any part of the Prorerty or any
<br />Interest in it I% sold or transferred for ifa beneficial interest in Borrower is sold or trarrterred and Rorro%%er is not it natural
<br />person) without Lenders prior written consent. Lender may, at its option. require immediate payment in full of all %urns
<br />secured by this Security instrument. However. this option shall nor he execci ccl by Lender if rxcr.iw is prohihned by
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acccierauon. l lie notice shall pnnidC a period
<br />of not less than 30 days from the date the notice is delnered or mailed within which BOM11kcr mast pay all sums secured by
<br />Ors Security Instrument. If borrower fails to pay these sums pnrr t.• the expiration of On, periisl, Lender may in%oke .im
<br />remedies pe'rrnated by this Security Instrument without further notice or demand c.n Borrower
<br />19. Borrower's Right to Reinstate. if Borrower meets certain condenoeis. Itorrowef shill; have the r'ir :ht to have
<br />enforcement of this Securt% Instrument di %continue t any time prior to the ea her of (a) s k1 t%, i t ii o ii r ;o.
<br />appliCable law snap fOr emstatement) f+cf>rv. ti set tti% Property paisu in to any .iin%ci "I ri 11JI i r. Fn
<br />tiecunn anMtfrintenr, tr tit !end r% o?i a tuctkmcnt enforcing this Svciir;l) Iii Mrrumeni I hosc -irldit;orn :o., that !t. r Y—kv'
<br />s) pays leiidef all scans which then waiuld he due under this "t%,urny 111'numcnt and the No tic had no a�_ clefau..ii
<br />orcurrcd, 4h1 cures ally default sit airy nrixtt crncminil of agrcrmems is i ilacs ,di eMpesncs u, ;sired :r, cnlo. :a :,;
<br />�erunty lesMrtini %exit iciudsng nut not ;imtteki to eas,.nablc atlollwMs' tics, and +di i.tkc °.
<br />ceraxnnahiy- --ij tIv ii .%sure rl,ait the rood 4 this >ecttvO Instrument, l eiidn's mart, tit 0-,
<br />;hiiyY! rase .' r,w. ihw .wliM %_,uteri 1,y this lcturay lnstTwnew shall ;*T,wc
<br />K,rro,wei, laa +irs:;ornt aivd ?Fe.,xhlig r ,�iMS�.ta ...11s,r :bti 01a: m °,a. tuii•.:N.,;n,
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