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85-- 000734
<br />1 If Lender required mortgage insurance as it condition of making the loan secured by this Security Instrument,
<br />Borrower shatl pay the premiums required to maintain the insurance in effect until such time as the requirement for the
<br />insurance terminatesin 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 noticearthe time of or prior loan inspection specifying reasonablecause for theinspection.
<br />(: 4. 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 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 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, tender 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 nor 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 &grower 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 ofany 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 pfany right or remedy.
<br />I1, 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 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 Borrower's 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 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) anv sums alreadv 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 Affecting Lender's Rights. if enactment or expiration of applicable laws has the etlect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terns, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may insokc any remedies
<br />PC by paragraph 14. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nnhcc to Burrower provided for t i t his Security Instrulncnl 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 he 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 rnail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for us this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. 'rills Security 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 not affect tither provisions of this Security Instrument or the Note
<br />which call he given effect without the conflicting provision. To this cod the provisions of this Security Instrument and the
<br />Note are declared to be severable.
<br />16. Horrower's Copy, Borrower shall be given one conforined copy of the Noic it rid or,* Ili% Security insa unlerat.
<br />17, Transfer of the Property or a Ileneficial Interest in Borrower. If all or ;uw part of the I'rolurty ur any
<br />interest in it is sold or tran-,ferred (or iris benelicial interest in Borrower is sold or trmsferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender tray, at its option, require Immediate paynlcnl in fall ol'all sums
<br />secured by this Security Instrument. Ilowever, this oplinn shrill mat he 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 ofacceleral ton i lie nonce shall firm tile a lies will
<br />of not less than 30 days from the date the notice is delivered or mailed w'Itmil wittl'11 1141, rower stills
<br />t pray all starts secured hs
<br />this Security instrument. if Borrower fails to pay Ihesc sums prior to the V ptratlon of tills period. Lcndet rain mcokc any
<br />remedtcs permitted by this Security Instrument without further more or deinatltl oil llorrowrt'.
<br />18. Ikrrrower's Right In Reinstate. If Borrower meets certaln conehUons, Hortower shall hate the right to llaase
<br />enfooccrnew of this Security Instrument discontinued at any tune prior to the earlier of: (a) 5 days (or such �rthel perlod
<br />applicable law stray specify for retustatetneut) before sale of' tile Propel ty pursuaual to .Illy power of sole crmt;ained In this
<br />Secnrily Insirannent; or (b) entry of a.)ullp!ment etrforrinF this Serums. Insltumcilt I hnsr I ondillolls are 01.11 liolnmel
<br />(a) pays Imider all sumo which then would tie due under Ihas Security lnstrument and the Note had no a rrler ;lion
<br />Mcurrcd, (h) currs any (Iefauk of ,any other I nemuit', of aglcenaenls fr) pay', all cep, riles Iliculre'ei uh +iruau this
<br />%"k1rlty iwormvww, hacfudurg, hill ,(it lirrltteel tn, teasorratile attorncs',• furs; amt Icll tikes such aen.ni as Lenten rn.ty
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<br />11r Ptrrsa.r, _his 'cnllty InsUunutru 1n,1 iltr t•hh�alitritk >cc'Irrtl hereby shall vervain lolly 'flcrtttt' a� it nn a„'rlcld�t, .r IIaJ
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