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85-- 001757
<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 />shalt 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, 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, 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 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 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 Borrower'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 SLcurity 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 con,,ey'
<br />that Borrower's interest tit 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 in,truntent or the Note wnhoul
<br />that Borrower's consent.
<br />12. Loan Charges. if the loan secured by this Security Instrument is subject to a law winch sit, nlaxununt loan
<br />charges, and that law is finally interpreted so that the interest or other loan rhargcs collected or to he collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loam charge shall he relfuccd by the amount
<br />necessary to reduce the charge to the permitted limn; and (b) any sums already collected from Horrowe•r which c,cceded
<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. 11'a refund reduces principal, the reduction will fx 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 law, tla, the cthect of
<br />rendering any provision of the Note or this Security Instrument unenka-ceable accor%fule l,, i% terms. Lender. at i, option,
<br />may require immediate payment In full of all sum% secured by till, Security ln%trurnrnt and rnav smoke ao% remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall lake rile steps %pecified In the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided form this Securuy Instrument ,hall he green by deh%rnng n or by
<br />mailing it by first class mail unless applicable law requires use of another method I he notice ,hall he directed to the
<br />Property Address or any other address Borrower designates by nonce to Lender. Any notice to Lender shall he given by
<br />first class mail to Lender's addrLKs stated herein or any other address Lender designates by notice to Borrower Anv notice
<br />provided for In this Secant%' Instruntent shall he deern.d to ha%e hcen gi%'en f., Hornet er or I =Jcr ,% hen gi %'c;I ;:, pr<,Llcicd
<br />In this paragraph.
<br />IS. Governing Law; Severability. This Security In I'llincnl shall Ise rl,%erned by federal law and the law of the
<br />jurisdiction m which the Property' Is located. In the cent that any provision or clause of this SeeIIHIP Illslriailetll nr tin;
<br />Note conflicts with applicable law, such conflict shall nut affect other pru%mmn% of this Security Instrument or the Note
<br />which call be given effect without the conflicting provision. to Ilus end Ilse pm%IVons of Ill, Scrum% Inslrlllllelll ;Ind the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Horrowcr shall be given one %onhrrtried copy tit the Note.Iltd of this Serum% Insn,lnlrnl
<br />17. Transfer of the Property or a Beneficial Interest in Borrower, If all or ant, part of the Property ill :Inv
<br />Interest in it is sold nr transfen'ed (ur If a hencficral Interest m Borrower Is sold or transferred and Horrowe•r I, nut d natul ill
<br />person) wnhout Lender's prior written is nlscnt. Lender Ina), at Its option, require lonnedlatc payment In full of all sums
<br />secured by this Security instrument. Ifo%%cIer, this option shall not be cxefcl,etl h) Lender If rxcr,ise I•, pr„hlhoed by
<br />federal law as of the date o f f his Securlt% Instruntent,
<br />If Lender exercises this option, L,endci shall give Horrowei notice of acceleration i he notice shall pim lilt a pcnod
<br />of nol less than 30dags front the date the notice I,, de11%ered or malled within which liol lower must p;Iy all ums srcurcd h%
<br />tilts Security Instrument. If Borrower tails to pay these sums prior t(, the extvrauon of tlu, per loll, I ceder Ina} im oke .nn
<br />rernc(llespermitted h) [hisScLunty Instrument %%alhout further nonce or demand on HUrri,wer
<br />113. Borrower's Right to Reinstate. if Borrower meets ccrtant rondltiois, Borrower ,hall ha%r the right n, hate
<br />en('orccnlent of ills Security in,trumenl (11%coihuued ,u any tim prior to the rather of (d) `' da%, (oI Ilk 11 of hr1 proud u,
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