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87-- i0U047
<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 />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 ofor prior to an inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The pr ct-Lds 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 hen of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a tonal 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 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 4b) the fair market value of the Pri>periy 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 tit B,)rrower that the condemnor offers it?
<br />make an award or settle a claim for damages. Borrower fails ill 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 I and 2 or change the amount of such payments.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tittle for ;taymenr or
<br />modification of amortization of the Suais 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 fit 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 Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />shall not he 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, subiect -,o the provisions
<br />of paragraph f?. Borrower's covenants and agreements shall be toinf and several. Any Borrower who co•sigris this Security'
<br />Instrument but does not execute the Note iii) is co- signing this Security Instrument only to mortgage, grant and convey
<br />that 13orrower`s interest in the Property under the terms of this Security Instrunientl (b) is not personally obligated to pay
<br />the sums secured by this Seturin Imtrurrient; and (c) agrees shat Lender and ally other Bornmer may agree to extend,
<br />modify, forhear or make any acaxnrnoKfatic'n, with regard io file terms of this Security InNirumenl or the Note without
<br />that Borrower'sconsent
<br />12. Lit Charges, If the loan secured by this Security Instrument is subiect um a law which sets maximum loan
<br />charges, and that law is finally ititerpreied so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permittert limits, then: (a) any such loan charge shall be reduced by the amount
<br />necessary to reduce the charge to the permitseed )unit: and (ft) any sums already collected from Borrower which exceeded
<br />permitted limits will be refunded to Borrower l_.etider may chomse tot snake this refund h reducing the principal owed
<br />under the Note or by making a duct r payment to Borrower. If a refund reduces principal. the reduction will be treated as a
<br />partial prepayment wnhoui iuiy prepayment charge under the Note -
<br />13. Legislation Affecting Lender's Rights. If enacimeni it cxpuation of applicable laws has the effect of
<br />rendering any proeision ofthe Note or this Securit lturruntem wwrlfo iccablc aceurding to its terms. Lender, of its option.
<br />Wiry require immediate payment in full of all suns, secured bs this S"unzv lnstrurncnt and may invoke any remedies
<br />permitted by paragraph l9. If Lender exercises this option, Lender shall take !t =.c slops specit;cd it the second paragraph of
<br />paragraph 1 -+,
<br />14. Notices. Any noiice to Borrower provided for sit ihu Secunly lnsirurnent shall he given by delivering it or he
<br />Mailing it by first class mail unless applicable law requires use of another mcthod. a he notice shall be directed it, the
<br />Property Address or anv other address Borrower designates b+ notice to Lender Any noire to Lender shall be green by
<br />first class inail to Lender's address stated herein or itin ollicr address I ender +Se,tftnates be 11011LC to Borrower_ .Any notir:e
<br />provided for fr. this Security Instrument shall be deemed to have b en aeii to Bcr rwrr ;.r l_rndcr whc.m gi.Cti its provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Irm,irs:rnenf , a1! ,veined t s fed ia! !aw and the lam of file
<br />jurisdiction in which tale Property is located_ In the event that an} pr r,,irns r clau>e I .hi, Secoativ ln,lrumatt (;r the
<br />Note conflicts with applicable law, sisch coir.?iici shall ;rot affect „titer z.!, Si -u.ity In,u umcut or the Note
<br />which can hr given effect :without the conflicting provision. I,) this end the f this Srctm!,, histru =.Went and the
<br />NoIc are declared tore sevCrable.
<br />Ifs. Borrower's Copy. Boirrricr,:r Quail he - vo,r _,sic a llfPnii t <, to i \I, :,! c .1 !1., �o cunt; 1ns,rurnrsit
<br />17, Transfer of the Property or a Beneficial interest in Borrower. it :al or :1 _. j-,ar, tai` t11e Prt p °rte u; ,ufF
<br />itttere,r in it ;—old or transferred for if:r henefieial interest in Borrower iy,oid rr trarufcrred acid Borrower is nut it nasuntl
<br />r'tc r,unr 'A itPout I.rndcr', prior % %roteri consent. Lender may at 1,_ rl..i m, n_giure nnnmc,nitte r,ayment in full of all ,unit
<br />secured 1+m t.iias Se urliv Instill =rCnf. FIr'tve> r. This i1 not Csen:� rof tip 1 .nt;rrt ;a rci,e t, 1 rt,t;;hite.€ ?o
<br />fi<�r9er�i lams a, !Iirdail rfihis s<ct.irits 1 tsirument.
<br />If 1_. ld er exof,,I'es this "' tion. L.eticier'}tail tine Boo .wry? nt�ttc ,�: accrle -.3tu 'i- "I he nrti :, —halj hit ldC :1
<br />rI #,1r z ac_s'.hari . a, dues ri.a.. the silk the notice i, willful %0111,1 a!I,t�nt,
<br />t €. So�arit; Irutn;siirnt if B«ir.,wCr 13111 l0 1;a} thC,, uni, pfil�r Ov, i eruct, I ncfcr n,a+ n r aa�;.
<br />it',ln°dtesl 1 *littattSbm'thisSecuritN In,irumcntaith+niif +,a;t't r ,.tics: t'ti;i:m_l,.niBl +rn�wcr
<br />18. Borrower's [light to Reinstate. 1i Itn7r,wcr ntcc citric ,:lixfiu n,. Mill u i 011_ will r,..1,
<br />en 1, iT C- 'its ?t, , .J:, ti) c13,tt G' In,t n 313 iC ill dstir ,itt in!,l.d i a n V' i.111C 1,r1, . t, ,i:C C, 1. t'r , :,11,'1', .:
<br />;jv.
<br />(N .'', C ._,, .a �1 ,;, .< °Ile fi 1 :+ , t _ ,1 «. {,n 't ;, _ 1 ..i: . 'h.. '\a .. .,.
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