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9
<br />85-- 001929
<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 Properly 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 aware' or settle a claim for damages, Borrower fails to respond to Lender within ;0 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 pnmc:FSI shall not extend or
<br />Postpone the due date of the monthly payments referred to in paragraphs I and Z or change the 'mount 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 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 b% reason of any demand made
<br />by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any nght 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 beloint 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 chocne to make this refund �y 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 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 he 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 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 been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This 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 provtsiun or clause of this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy, Borrower shall be given one conformed copy of the Note and of this Security Instrument,
<br />Interest' n it is Transfer of
<br />old or transferred (or ifarbenelficiallinterest ein Borrower tor1, sold or transferred a nd Horrthwer'IS ntltta n:uural
<br />Person) without Lender's prior written consent. Lender may, at its opmun, require munedtate paynlenl m full of all surds
<br />secured by this Security Instrument. However, this oPnon shall not he exercised by. f..ender i) exercise is prnhtbited by
<br />federal law as of the date of this Security Instrurnent.
<br />If Lender exercises this option. Lender shall give Borrower nonce of acceleration. the nonce shall provide a period
<br />of riot less than l0days from the date the notice is delivered or rn:uled within which Borrower must pay all sums secured 11%
<br />this Security Instrurnent. If Borrower fails to pay these sums prior to the expiraton of this lwrioti, Lender may rnnke any
<br />remedies Per'mttted by this Security Instrument without further nonce or demand on Borrower.
<br />IS. Borrower's Right to Reinstate. If Borrower reels :erram cont.linons, Burrower shall have the right to have
<br />enforcement of this Security Inslrument discontinued at any urne prior In the earlier of ta) � days 1111- such „tiler penotl as
<br />apphcahlc law may specify for rrinsrucrucnt) hvtore saic of rite Property pursuant to :sty bower of sale ionianu'd III this
<br />Security fnstrtunc'nt, or (h) emr% of a ioilgnrcnt erdOlL9ttg 11114 Secllrll4 In4lRlrn'nr ! f11/4e it1lldlli11114 e1-c' III:1r Ilorrowcr
<br />ial pays Lender Al sums w11ji! then would he titre under tills Security Ills' r"1111311 and the Note had no arielerauon
<br />'x:curred sf ores :any dcltull of any nlher ruteruuirs or igi-cetticia, tc) Days all evpcnx'c utcuned in VIII nel Iles
<br />4t'eunly 1rlstnimenl. rocluding but not hrnutd tut led lahle artu
<br />cast n1- +?ly reduirc , .i our 1-h:; I', rncts li s and idl lahrs ,w h a�uori as Lender flay
<br />u'n f the 5 olio u1- .1 ' f
<br />rip7his ni Ihr f'! ,uttl Bortourr s
<br />c:uictl by Ihi ti�,.unh In uumtrt ,hug "nunnc .nihanuctl 1 r,,
<br />purr a I i,t�., Aa.' un'i Ii ,irneni ,rid'h•' Ill ,loon. ,.t un, � ' ir',I:ut•inrni h�
<br />� ir7,,! ,� r '}i1-, bl
<br />II•.: h if 1-.h', ,h.il'vin,�•i wl, rrlc.'nr.t,i,n ,.tt u,l�„nuad
<br />�. r �! - r• n,�til_ •,hall n'I slyly � n file._ i _ i i
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