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86- 1074465
<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 Borrowei s and Lender's written agreement or applicable law.
<br />8. Inspection. 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 1 he mspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or 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 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 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 hcfore 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 />pustpxme the due date of the monthly payments referred to in paragraphs i and ' 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 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 be required to commence proceedings against any successor m 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 Burrower or Borrower's successors in interest Any forbearance by I ender in exercising any nght 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 loint and several Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note (a) n co- signing this Security Instrument only it) mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument. (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Burrower 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 Charges. If the loan secured by this Securny Instrument Is subject to a law which sets maximum Iran
<br />charges. and that law n ftnalh interpreted so that the interest or other loan :harges collectcd or to he collected In
<br />Connection with the loan exceed the permuted limits, then: (a) any such loan charge shall be reduced by' the amount
<br />necessary to reduce the charge to the permitted limit. and (h) am sums already collected from Borrower which exceeded
<br />permitted limits will he 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 he treated as a
<br />partial prepayment without any prepayment charge under the Note
<br />13. Legislation Affecting Lender's Rights. if enactment or expiration of applicable laws has the effect of
<br />rendenag any provision of the Note or this Security instrument unenforceable according in its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke an, remedies
<br />permitted by paragraph 19 If Lender exercises this option. Lender shall take the steps specified in the second paragraph of
<br />paragraph 17
<br />14. Notices. Any notice tx, Borrower provided for in this Security Instrument ,hall he given by delivering it or by
<br />marling it by first ciass marl unless applicable law requires use of another method. The notice shall he directed to the
<br />Property Address or any other address Borrower designates by nonce to Lender. Any nonce to Lender shall be gnen by
<br />tint clans mail to Lender "s 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 Italic been gnen io Borrower or I coder u hen gryen as provided
<br />in this paragraph.
<br />15. Governing Law, severability. Tlits Securny Instrument shall he Loa culled by federal law and the law of the
<br />jurisdiction in which the Propert: is located. In the event that any prutiswn or clause if !his Security Insirumetn or the
<br />Note conflicts with applicable taw, such conflict ,hall not affect other provi,i on, of this Security Instrument or the lots
<br />which can be gnen effect w ;shout the conflicting provision. To this end the prow utuns of thi, Siecuniy Instrument and the
<br />Note are declared io be severable
<br />16. Borrower's Copy. Borrr••.yer shall he given one conformed copy of the Nore and ,,f this Security Insirurricnt
<br />17, Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the Pn,perty or any
<br />interest in It is sold or transferred (or if a beneficial Interest in Borrower n sold or transferred and Borroaer is nor ;, nart!ril
<br />person) without Lender's prior written consent. Lender may, at n, ,•ption, requirc r!nnic• ialic payment ni full „! sill sun„
<br />secured by this Security Instrument Howevcr. this option shall not be exe+nscd by Louder if excrsise is pn,hihttatil by
<br />federal law as of the date of this Security Instrument
<br />N Lender exercises this option. Lender shall give Borrower not of acceleration 1 hr nest t, e ,hall pn,a tdc ,, pries <i
<br />of not less than 30 days from the date the notice n dehsrred or mailed within w hick Borrow cr must pay all ,urns secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration o! this period. Lender may unoke airy
<br />remedies permitted by this Security instrument without further notice or demand on Borrower
<br />18. Borrower's Right to Reinstate. If Borrower merts certain condinons. It,,iruwer .hail hacc the riehi to hair
<br />L erf,r4irmcnt of this Security Instrument discontinued at any time pnor u, the eanccr of rat ` days (or ,ugh oil er r+a•riod
<br />Applicable law may specify for reinstatement) before laic ill the Property pursuant !u an% Ix,wc! it ,ale cowiiinoj ti, ;h„
<br />Secunty Instrurnrtnr. set (h) entry of a judgment enforcing this Sccunr>. In,iriinwnt I how :ovdown, air ihai B +r,. ,acr
<br />tab pays Lcrtdcr all ,uin, whin•, lheri would fx due under this SCCUrtty Instrur•.re nt and ttlr \.etc 1111,1 n,' i,ccicr.itli n
<br />tx,currrd, (hi curry any default of ant other cocrnams or ,igrcxmcnT% I,) pac, 01 r,(xnsa, !n.urrcd tr, rntr rim_ th„
<br />SO,Urjll Inoaluirtew.:ncludtnY, but nut IltnitCd Iv, rra,a,tiahlr anurnev, fcc,..uid Icy :ai.c, , ,,,:.i Z-! .s, I :Tacit mn l%
<br />rea,"Illthly require e„ assure chat the seen of ILis kt.urity Inatrllmt'nl. 1 eTldrt , nuht, on the I'!., ;sy .t,!,! Iii -.ri •,.r!
<br />,rbltgavor, to pay the vim, s, %urtd by this S+x:urity Instrument shah ,,•,nun till, ha! ;}sal ,
<br />Br,rn- wry.:h,. tiez_urny lt,sir;erill:w and the obh(tanons secured hcreb, ti.o ,t•echo,a !0!! t <. I: ..i• ;) !l,` ,ki(I IA!, t 'I W
<br />t•rd hI, we ill, r,Ati' i : tva,ta ;r,hall it „ +:ih.pty In !1:. 'A'.. 1” 4,. elr .a I ; X to . 1
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