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85- 000378
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<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 of or prior loan 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 he 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 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 bt (b) the fair market value of the Property immediately before the taking. Any balance shall he
<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 I 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 Horrower'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 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 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 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 \v "ho co -signs this Security
<br />Instrument but din% not execute the Note: (a) is co- signing this Security Instrument only" to mortgage, grant and convey
<br />that Borrower's interest in the Prorurty under the terms of this Security Instrument. (b) is not personally obligated to pas
<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 Borrower's consent.
<br />12. Levan Charges. If the loan secured by this Security instrument is subject to a law which sets maximum Iran
<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 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 he refunded to Borrower. Lender may choose to make this refund by reducing the principal owed
<br />under the Noteor by making a direct payment to Borrower. ifa 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 M
<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 icnledics
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified Ill the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for it this Security Instrunicnt shall be given by dcloering it or h}
<br />mailing it by first class trial] unless applicable law requires use of another method, the notice \ha)l 1',e directed to the
<br />Property Address or any other address Borrower designates by nencc to Lcnder. Any notice to Lender shall he 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 becit liken In Borrower or Lcnder when given as pro%ided
<br />in tiros paragraph.
<br />15. (governing haw; Severability, i sus Seeunty Instrument shah he eo\rnsrd ht fidcral Law anti the i:9a oa the
<br />jurisdiction in which the Properly Is located. In the event that any pro%i%wn or clause td fills security Insil "unlent of file
<br />Note conflicts with applicable law, siteh COnfliCt shall not affect t,Oler pro\isltlis IIi this ;ectlllt\ Insinitnent 0r the Note
<br />which call tic given effect without the conflicting provision. fo this end file prmiswns of this Secirnt Insirunarttl and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy. HornYwer shall lie given t••nr ,'rnfi}rrned ct,pit t41 he Note and +,f Ihls ticcwifN InslTtinent
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. II ;ill t,r anv part of Ili(- i'r,,pett% i,t mi.
<br />Interest it it 1s cold or transferee! (or if a Ilenetieial interest tit Horrower Is sold or lr:nntrrted ;111if HoTI(lwCI r. nil a nalulal
<br />Ixrson) % %nhout Lender's prier written consent, Lcnder nay. al 1is npnon, reg11lrC 1111nledl;ur pattticnt Ill 11111 of ;,I] sires
<br />++cured by this Security Insiraunent, llowcver, this o11uon sliall nc,t he cvclCised ht Lcnder t(cv,rrlse Is 11rl,InhnCd bt
<br />f,deral Law asot`tltt date of 1Pus 5ccurity Instrument
<br />If Lender exercises this option. Lcnder shall give Borrower nnn,e of ac crlrlanon f hC 1WIWC +hail 11rn1 Ids .I 11el lid
<br />[,t not less than 10day -s front thedcllc the n011ee isdch\c'r'ed of timiled \\1lhill M1101 H0110%%el full't pil\ all `•Illllw 1lcutt'd h\
<br />flat] Se4 tirity In%frunicni. If Borrower fails to pay the ".L' "Ill]% 111101. 111 lilt' r tpililliml t,1 fills pee wd, I CIId"I in�I\ tn\nl,e;Im
<br />rentedfes permitted by this Security Instrument %%ohout further Ill,ticc or deniwitf on lim rower
<br />18. Borrower's Right to Reinstate, 11' Kit toixer mvvi% I. ci fain rnhdlUons, H,+rIII"vI shall ha\r the I11!!lt it, )ta\r
<br />criforcettlenl of this Srcurily Inslrunlent discouinitwd at ,uiv little• prior In the Carper of (A s dal,, (tit such Whet ;n•ru`d .1s
<br />apphrahlc law frilly sl)tecffy tier reilsl aArulrnl) hehire s,lle of Idle I'Inpc It putsu; ill tlI :ply pours 1,1 %air ,.1vll,nncd ill IIll%
<br />Sr:Curafy Initrulneftf.
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<br />"hllp!Htat,n 411. poly t {I <' '.Iltllh 'rl'4'llll'd 11% fhl> tie,'tllllfy Ins!r'n111,111 '11;111 1 1,111111111 tt1, h,lfwrd I ; "n ill'I;111' 1„t' III I't
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