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7M
<br />85-,. 000809
<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 />S. 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 the inspection.
<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 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, 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 Borrowers 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 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 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) 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 if 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 mail to Lender's address stated herein or any other address Lender dtNignaie% by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />is. Governing Law; Severability. This Securitv Instrument shall he governed by federal law and the Law of file
<br />jurisdiction is which the Property is located. In the event that any provision or clause of lhi% Security instrument or the
<br />Note conflicts with applicable law, such conflict shall not aflcct other provisions of this Security lusrrl,ment or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of Ifit, Security Instrument and the
<br />Note aredec'lared tribe severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Noic and cif this SccnrnY 111%U uniclll
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of Itrc Prolx•rty or ;troy
<br />Interest in it is wild or transferred (or if a beneficial interest in Borrower is sold or transferred and Kn roll ci ii, not it natural
<br />person) without Lender's prior written consent, Lender may, at its option, tegwre nnmcdlate pimnew to full of ,III suns,
<br />secured by this Security instrument. However, this option shall not he exercised by lender it cxrrcnc is pre!luhncd b.
<br />federal law as of the dale of this Securi(y Instrument.
<br />if Lender exercises Ibis option, Lender shall give Borrower notice of acccleratton. The not shall pis w 1[le I I'cl II Ri
<br />of not less than 30 days front the date the notice is delivered or mailed within which Borrower must pay all suns s[raned b.
<br />I his Security Instrument. if Borrower fails to pay these %unit, prior to the expiraliotl of Ibis pvtlod, I ender may no okc .inIN
<br />Pemet)1e➢111er1 ➢ratted by 11116 4eeUrlty Instrument lY'll h(lllt fll Yfher IH1nCe (1r de'lllalld ill Borrower.
<br />18. Borrower's Right to Reinstate. If lorrower rr eel' certain condrUolls, Holt !wet shall Ila%u tlnt' light
<br />enforcement o f t its Seeur'tty I fist nntent dtsomlinucd at all y lime prior Io the cat her +d. [ 11 S days tot sui b ofhci p vl l-f .,,
<br />applicable law nlay spe.ifv for reinstatemenl) 1wIo e sale of the property pur%uaun b1 any poi %el of s'lit' "'1111auicd !;c th11
<br />Security Insirutnenl: or (h) entry of it Judgment enforcing lilts Scruilly lnstrunlent I hose iondnlil,ns air HIM HrqroI[, i
<br />(al pays Fender all sums which then wiruld he due under flits Security I list runicill :Intl the• Nole h;td no ,I;., 1,1411. +n
<br />,n:curred. (b) cures any (1cfaull of any other covenants or ilglecrnelik, ic) hays ali reJ!rns,,, H1,111 —d ui • 110t,mv! + "m
<br />Seturuy Instrument, Inclu1111g, bun slot hrnued Io, reasonable allmlreys' firs, and oil Iakcs eu,L• ,,ctv"u ,,. 1 "rule[ !+rat
<br />reasealiably reyulre I-'I%surry Thal live hen +,I' this st °aunty Instrument, 1 ruder" r1yI11, m the PloperlI Ind Hi,o,,eee i .
<br />:!hltga' inn to f,ap t!!c .wnia scturcd hq this niehinil -cd ( iavi hI
<br />lir!rr,.aer, tPir.Sr.vu,ry Inslruuunt and Ihe,ihhgaholli wetted ilvwhv shall rrm,ein folk ir., ,i. i innn Scid
<br />,., uirc•t9 ll + +wrrL too rcrghl to re ^set ~late s?erail nnf aJat,Ip in liar •. AM —1 u,.,ri�-r .aU „n �.ind<•! J +ai,i r'�:!I +h. i +,,, 1 '
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