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<br />85- 000188
<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 Borrowr notice at the timeofor prior to an inspection specifying ableca f(Wthej .
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or conscquentiai, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, and hereby
<br />assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall h 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 before the taking. -Any balance shalt be
<br />pair! 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 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
<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 />-_. -- - -__- ,._„_ t _....,Ls_ Of..__p,reclud -r rexerciseofanyrightorremedy.
<br />11. Successors and Assigns Born": Joint and Several Liab -amity; o- signers. -' c - -^•� �s
<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 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 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 Borrowers 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 he collected in
<br />connection with the loan exceed the permitted limits. then: (a) any such loan charge shall he 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 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 />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at 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 17.
<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 shalt tic directed to the
<br />Properly 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 designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Burrower or Lender when given as provided
<br />in this paragraph.
<br />f$. Governing Law; Severability. This Security Instrument shall he governed by federal law and the law (it* 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 not affect other provisions of this Security Instrument or the Note
<br />which call he 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 Notc and 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 if a beneficial interest in Borrower is sold or transferred and Borrower is not it naiursl
<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, this option shall not he exercised by Lender if exercise is prohihiied hN
<br />federal law as of the date of this Security Instrument.
<br />if Leader exercises this option, Lender shall give Borrower notice of acceleration• i Ile notice shall pica', ide .1 period
<br />of not less than 30 days from the date the notice is delivered or ntaded wilhrn which lorrower must pay all bunts soured by
<br />(tits Security instrument. If Borrower fails to pay these sunis prior to the expira Lion of this penorid. Lender may invoke m.%
<br />remedies perrnitfcci by this Security Instrument without furiber noires or demand on Nortowcr.
<br />18. Borrower's Right to Reinstate. if Borro%cr lueets certain conditions, Boirowcrr shall have the right to hate
<br />enforcement of this Security Instruriviii disionfinued at arty time prior to the carlicr of: (a) e da y%(or such other period as
<br />appl "ble law may specify for rernslatcincnt) hclhte sale of the laroperty pursuant to any )waver of sale c.ntamcsd ill this
<br />Security Instrumenl: or (b) entry of a judgment cofmcmg this Security Instrunoeni Those cutidilwns arc that Hot rower
<br />(a) pays 1xildcr all sums which theca would he due under this Sec•unly Instrument and fhc Note had ii., aacarlcrataun
<br />occurred: (h) cures any default ,.f any other e- cuallt% - agrccrnent <,: (c) pays all expenses incurred in enl+arcink this
<br />Security Instrument. ntaludraig, hat riot iunited lo, reasuaable atlorncys' fees. and (d) take% such action as I coder mac
<br />reasonMy reyutre to assure that t)rc Igcn of this Sci.urity Instrument. Lender's rights or the Ilra;w•ity and H+rrrower's
<br />obligation to psy the suers secured by 1111', Security Instrument shall ontimur uu,,lianged ('bon irunslatcinrnr In
<br />Heirruwer. rhis '�cLunta instrument aitd the: ohligauons sA:,smcd herehy shall rern.tin fully efl'ek liNc .t, it i.a.;tarclattnunn h_td
<br />recurred tit »ecei3O t i% roghiit arenrslate %haillo.arapplgnitheia *.r ofarcchenutonundrr I; ,I I"
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