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042132
<br />If Lender required mortgage insurant e'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 />4. Condenuatibia. 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 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 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 o ror preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- sitters. 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'% covenants and agreements shall he 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 tender and any other Burrower 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 />11 Low Charem 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 he 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 charge to the permitted limit: and (b) any sums already collected from Borrower which exceeded
<br />pernutted 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 be treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13, Legislaitim Affecting Lender's Ruts. 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 14, if Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />17.
<br />14. Notices. Any notice to Burrower provided for in this Security instrument shall be given by delivering it or by
<br />ttte'ling it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to (sender. Any noticc to Lender shall be given by
<br />first c mail to Lender's address stated herein or any other address Lender designates by rto.otice 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 to governed by federal law and the law of the
<br />jurisdiction in which the Property is located. in the event that any provision or clause of this Security Instrument or the
<br />Note conflicu 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 be severable.
<br />if. 's Copy. Borrower shall be. given one conformed copy (of the Note and of this Security In %trument,
<br />17. Tt'» ee of tbe Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) secured without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />by this Security instrument. However. this option shall not be exercised by Lctadcr if exercise is pro ►hibited by
<br />federal law as of the date of thtsSecurity instrument.
<br />If l.err exercises this option. Lender shall give Borrower notice of acceleration. "The notice shall provide a pericaoi
<br />of nose less than 30day %from the elate the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. if Borrower fails to pay these gums prior to the expiration of this too rind, Lender may invoke any
<br />remedies permitted by this Security Instrument without .further notice ur demand on Borrower.
<br />10, wOr's to Reinstate. If Borrower meets certain conditions, Be.orrowerr %hall have the right to have
<br />applicable f. t (if this Security instrument di%co ►ntinued at any time prior to the earlier of (a) 5 clays (or %uch other Ivrioni a%
<br />law may specify fo ►r rein%tatemcnt) Wore %ale of the Prorlvrty pur %uant to any pf+wei conlained tit tht%
<br />%frunly Frrstrument. or (h) entry of a judgment enforcing this ` evulity Instrument- T ho•te condition% are that Horrower, �
<br />(a) pays Lerrikir all sutras which then wea►akl tv due under this Security Instrument drift the Now had no acceleration
<br />occurred: (ta) cures any default (,►f any father e:ovenants or agreernerat %; It.') ley% All expense% incurred in cnforcing iht%
<br />purity Instrument, rnaluding, but nor limited to, reasonable attorney %, ree%; and (ot) take. %uc it action d% I,rndel rata%
<br />rewsonably rNuire to asoourc that the lien oaf this purity Insirurnent. Lender'% right% in the d'rolwm and liorrrrwer`%
<br />obligation try pay t %u vurrd by thi% `s :urity Instrument %hall �ctnrrrtue raroe.:haata "l I rtosnstaatf•mcnt ha
<br />tht% Sfturity Invtrurnesnt And the e,+bh do :vas wured hereha %hall rertaArn faulty ao ('-Ire owta tad,l
<br />_ c rr ""wever, this right tO rein %tale %hall not apply in the sea uncles i "
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