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85-001398
<br />If Lender
<br />required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay'the premiums required to
<br />maintain the insurance in effect until such time as the requirement for the
<br />insurance, terminates in accordant with Borrower's and Lender's written agreement
<br />or applicable law.
<br />S. IntPectim . Lender of its agent may make reasonable
<br />entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable
<br />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
<br />assigned and shall be paid to Lender. lieu of condemnation, are hereby
<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
<br />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
<br />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
<br />paid to Borrower. before the taking. Any balance shall be
<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
<br />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,
<br />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
<br />paragraphs 1 and Z 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
<br />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 he required to
<br />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
<br />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 the
<br />preclude exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The
<br />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
<br />and agreements shall be joint and several. Any Borrower who co -signs this Set uons
<br />ri ty
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument
<br />only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument;
<br />(h) 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
<br />any accommodations with regard to the terms of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12, Loaa 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
<br />charges collected or to be 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
<br />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
<br />choose to make this refund by reducing the principal owed
<br />under the Note Air by making a direct payment to Burrower. If a refund reduces principal, the reduction will he treated as a
<br />partial prepayment without any
<br />prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights.
<br />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.
<br />may require immediate
<br />at its option,
<br />payment in full of all sums secured by this Security instrument and may Invoke any remedies
<br />permitted by paragraph 19. If Lender exercucs this option, i-
<br />.ender shall take the steps specified in the second paragraph of
<br />Paragraph 17.
<br />14. Notices. Any notice t.l Borrower pr(A"(fed for In this Securty Instrument shall he given I,%deltyering a A) by
<br />mailing It first class I"ll "Al's applicable 1:ew requires
<br />use (it another 111C1}llr(}. Tile nt 1ILC shall he directcd it, the
<br />d
<br />Property Address 4)r am ocher address Borrower designates h%
<br />notice It) 1 Clldff > tly tiolll'C to bender shall fM �I1CPa by
<br />first class mall to I endcr"s addrns stated herein or any other atidit'w I_t'tldI older alCS hs Ike t C to Lender
<br />for In tills $f4
<br />pl
<br />thviceai Any notice
<br />t PiIY 1i1S1ri1rPlepl sdlall he ldeettext to hay(' htcn tilled At Bntrt)wer or Lender when gl %etl a�s provided
<br />All t139s p$ra�fapt7. .
<br />1S. (.overning iaw;!venerability. This Securltl in%trtinlcnl shall he u(,%rrned 1,1 federal law anti the Iaw (,f the
<br />i6 n dlicitoal in which the Property IS located. In the event that
<br />arl provision It cla(1se of this leculm Inslrutnenl or the
<br />Bore conflicts with apphcahl law, SUCK eonFltct tihall not affect otll(tr
<br />procrsu,als (tf. fhtt 1rt'tlflfy illStfll nYC111 or Idet Nofe
<br />Nolte tail f)C red t he severable without Ifte e'lnfh('tlllg prpvlsloYl. I n this cto the I,rovrsloll4 (,t 11114 St.-curitF' insirnanent
<br />N4ate are det::lareti to be seyerahle.
<br />and the
<br />16. Borrower,% ('npy. Borrower shall he given nne Lonforined cl,pl of the Note ;llod i,f tins Securo.N Instronlel,l
<br />17. 'Transfer fer of the Property or a Beneficial Interest in Borrower.
<br />if :111 t,r mr% rant ill the I't(iperl% or :111)
<br />Enler P in it I, sold or transferred (()1' If a fiC."eficlal Interest Ili Borrower is wild tit ii;illtferf' -d afill Borrower 1% not a llattltal
<br />Person) without Lender`' PC" w'rlften
<br />consent, Lender nlay. at Its oplloll, w(Itare I'llmt'dlate rimInellt nl fill 08 all sums
<br />secured h ' v Oil% `securlty Iti%trurnellt, liowever, this option 4ltall Root he
<br />`_dcral
<br />exerci,ed 1,1 l ceder d Cal "fLlst' is pfohlbllC'4f by
<br />taw a_, of the date of this Security Instrument.
<br />If I. ender exercises this option, Lenllet shall ,Rive Borrower notice of accelCI'atiorl 1 he II(,IICC tihall 11 1'41y lde a
<br />ill nowt less Chart 40days front, t11e date the
<br />peritill
<br />vorlce is delivered tit malted %% Ithirl 'A Inch IIIlrrnwpr nitist pay, all s(IIM secured I,%.
<br />this turity Instrument. If Borrower fails to pay these sur1N prlm In Bile
<br />CAllo"ItlAm 0 this ptrnoli, 1.4'11der slay ftlloke any
<br />remcdi", Pe Mulled by thus Security Instrument without further notlt,eIll denYand on liuttl)% yr
<br />aft° wen's Right to Reinstate.
<br />ff Ifd /rfow( ".t rilcels certain Lon(ht1(,ns. ""t'"" l r shall hell -C the rlRht Ili hate
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