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<br />11 1` h
<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
<br />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 />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time
<br />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
<br />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
<br />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
<br />amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately
<br />More the taking, divided by (b) the fair
<br />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
<br />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 paragraphs 1 and 2
<br />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 onginal Borrower Borrower's
<br />or successors in interest.
<br />Lender shall not be required to commence proceedings
<br />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
<br />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
<br />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
<br />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
<br />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 Pmperty under the
<br />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
<br />may, agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Secunty 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
<br />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
<br />charge shall be reduced by the ar—unt
<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
<br />may choose to make t.hls 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
<br />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 this Security
<br />or 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 it or by
<br />mailing it by first class mail unless applicable law requires use of another
<br />method. The notice shall be 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
<br />or any other address Lender designates by notice id, Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender
<br />in this paragraph. when given as provided
<br />15, Governing Law; Severability, This Security Instrument shall he governed by federal law and the law of the
<br />jurisdiction in which the Property is located. in the event that any
<br />provision 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
<br />or the Note
<br />which +:an be given effect without the conflicting provision. To this end the provision, of till, Sea:unty Instrument and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall he given one conformed cop of file Noic .gild ref this Security instrurncut.
<br />17. Transfer of the Property
<br />or a Beneficial Interest in Borrower. if all or ills l�art of the Property or ;Illy
<br />Interest in it is bold or transferred (or if a heneticial interest in 13orrow'er rs sold or trarl,ferred and Borrower
<br />is not a natural
<br />person) without Lender's prior written consent, Lender rttay, at its option. require Immediate ha�nlcnt 1n full „f all %urns
<br />secured by this Security Instrument. however. tilts option shall not be
<br />excrcised by I.cncicr it ctercise is prohibited b
<br />federal law as of the date of this Security instrument. y
<br />If Lender exercises this option. Lender shall Borrower 'I °hr,
<br />gibe nonce of acceleratuxl. notice shall pr«vlcie ;a period
<br />of not less than 30 days from the (,late the notice is delivered or marled within which Borrower
<br />must pay all sums secured by
<br />this Security Instrument, If Borrower fails to pay these suln.s prior, to the expir:atlun of 1111, ender niav imoke anv
<br />remedies permitted by this Security instrument withotat further
<br />uonk.c t,r dicm.lnd till Horr��dvrf
<br />18. Borrower's Right to Reinstate. If Iiorrnwer ruc•ris ccrtaln c(,;Itiltions. llorrt+wci "Ball 11E1de the rlglai it) have
<br />enforcement if this Security 111 %trunrent dl%cnfltintleti at arty time prior it` tire c'arhel of (al � lial% (djI
<br />0ild'11 miler period as
<br />applicable law rraav specify for r('1 ►rstat4(nCrnt) h<rtOre sale (if the Propene pursu:ltlt of
<br />1
<br />,lily po%toer of %,all' c:a-tll;ill)t "dl 111 1111%
<br />'7ecrlrity Instrument; or (b) entry (it a ndse collditIons ;aft° that llo1rokVcl r t r d lt
<br />( a) flays Lender all sums which thin would he Clue se,
<br />r
<br />under this ill 1fItillIlment :and tilt Nolt. half nt, siCClef allioll
<br />rx:c °urrce9; !h} 4urcw an tiefuralt if any rftl'rcr c(wvnants gar agre°enient., lk1 rat,, ,all C.thrn�r�� fn,.urr0df
<br />1�
<br />in cnt�or�fnp: tilts
<br />Sectlnry Instrurnetft, intlu: ling, hilt tint lifnited td• reasonable attorllkc "' tics, and fdii r,l��. .aidl� .f�ll.ti as I cn.frr nray
<br />ra>a,d,nahly recif_aire to xsswf, thm tilt' halt
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<br />nf. tills Sc:c:unty [list Iulnent, I clldicr'� rli; 1'Irl�b ltd •ans.f li��fn,tdrf'ti
<br />�ahllgatinn trr ljtay tilt ;warn• �.a�; lfrcdl by thus Security iII%trIInIL. IP •,Il ;dl rr�ntlrnfr ;,n, h,,u I
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<br />t4afrr(z�as. 1 l ��•rf'•' ar; �,irarl Ins
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