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A
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<br />86-107410
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Secur.:y 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 Borrowers and Lenders written agreement or applicable law.
<br />I& lnsleectiea. 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. Cotdettmtion. The proceeds of am 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 be applied to the sums secured by this Security
<br />Instrument, whether or not then dine, with any excess paid to Borrower. In the event of a partial taking of the Property,
<br />unless Borrower and Lender otherwise ago 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 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 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 1 and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Leader Not a waiver. Extension of the time for payment or
<br />modification of amortization of the sums secureed 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 in 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 Borrowers 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 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 be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that Borrowers interest to the Property under the terns of this Secuntv Instrument; (b) is not personally obligated to pay
<br />the sums serum by this Securty 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 Cbarae. 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 be 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 sums already collected from Borrower which 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 prepayment charge under the Note
<br />13. Legislation Alfecdag Leader's Rigbts. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Securty Instrument unenforceable according to its terms, Lender, a., its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may Invoke any remedies
<br />permitted by paragraph 19 If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph l7
<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
<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 Lenders address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given rs provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Secuniv 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 or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall riot affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision To this end the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note ana 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 (or tf s beneficial interest in Borrower is 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 full of all sums
<br />secu-cd by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />If lender exercises this option, Lender shall give Borrower notice of acceleration The notice shall provide a period
<br />of not less than 30 days from the dale the notice is delivered or mailed w ithin which Borrower must pay all sums secured by
<br />this Secunty Instrument if Borrower fails to pay thesr sums prior to the expiration of i his period. Lender may invoke any
<br />remedies permitted by this Security Instrument w- ;ihout further notice or demand on Borrower
<br />lit. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued w any time prior to! he earlier of (a) 5 days for such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to an; poser of sale contained in this
<br />Securie) insrrument. or (b) entry of a judgment enforcing this Security Insirument Thcise ccmditiuns are that &orrower
<br />tai pays Lander all sums which then would be clue under this Security Insirwneni and the Note had nu acceleration
<br />cx';curred. (b3 cures any default of any other covenants or agreement. (c r lays all cApcnses incurred in enforcing this
<br />Securnv las,rrument. including. but not limited w. reasonable attorneys' fee, and td) ia'ncs such action as !,ender may
<br />rC11 yanabk rcquar - *,sure that the lien of this Security Instrument, Lcndrr s rights :ter the Ptor<ri± and M) ro-cr s
<br />;.tzl gat;rY+ r+, 1 sv the Burris .rcurcd t'v this Security Insitunueni shall * w!nue unvf:arssed t_'r,on re+v.s eternrn : tic
<br />Ik,r:;;wcr !h:v yr un , insirvmrtst avid iltc ottliptions sx-wed hcirsv shat( rr +natn `lulls rf3.c !nc a, tf RP a..etriaunn !tad
<br />fi e,c• !hn right !oTenriva•e .hall n €�t apply In vttr .is- ,1 a:..rirra; un::cr, l ar a rain 1 t . 1
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