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85--- 002601
<br />t 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 />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 of or prior to an inspection specifying reasonable cause for the inspection.
<br />f 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 />h 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 he 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 (h) 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. I ender 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 he a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; C"igners. 'The covenants and agreements of
<br />this Security Instrument shall hind 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 convey
<br />that Borrower's interest in the Property under the terms of this Security Instrument: (h) is not personally obligated to pay
<br />the sums secured by this Security lnstrumcnr 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. Iwmn Charges. If the loan secured by this Security Instrument Is subject to a law which sets nlaximun loan
<br />charges, and that law is finally interpreted so that the interest or other loan :harge% collected or to he collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall fie 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 cho osc to make this refund by reducing the principal t:-.:cd
<br />tinder the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will he i rcaied as it
<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 cif the Note or this Security Instrument unenforceable according it) its terms. Lender. at its "pilot),
<br />may require immediate payment in till] 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 h% dchvering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shat] he directed its the
<br />Property Address or any other address Borrower designates by notice to i coder. Any notice to Lender shall be 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 he deemed to have been given to lk)rrowcr or Lender when given as provided
<br />in this paragraph.
<br />IS. Governing Law; Severability. Tha Security Instrument shall he governed by federal law and the law of the
<br />Jurisdiction in which the Property IS to atcd. In the event that any provision or elapse of (firs 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 />Noic are dimfared to he severable.
<br />16. Borrower's Copy, Borrower shall he given one conthrmed copy of the N"ie and of ihr. Security Ills, roratenl.
<br />17. Transfer td'the Property or a Beneficial Interest in Borrower. If all or ;in% part tit the Property or anti
<br />lnteacsi in It is solid or transferred (or it a beneficial interest in Borrower is sold or transferred and Borrower Is not it tiannal
<br />person) without Lender's prior written consent. Lender may, at its option, requfffe nnmeduue payment in full of all Burns
<br />secured by this Security Instrument Ilowcvcr, this option shall not lie cxetowd by (.ender it exercise 1s prohihi!i:d by
<br />federal law as of the (late of t his secunt v 1 ustrumcnt.
<br />If Lender exercises this option, I.rndcr shall give Borrower notice of accelcr :uioi,. slur noUCc shall pro%I& .t peruicf
<br />of riot leas Iha n i4) days from the date llte notice is delivered or inailed wnhu which Borroacr muse pay all 1111111 sei:urcd by
<br />this Security insirunicrit. If Borrower falls to pay these Nuills prior (t, the cxpuatton of this I +elwd, 1 cadet snag Imoke ;nig
<br />rentedlcs permitted fly this Selrurily Instrunicilt wlthoul futther notit.e ni" ticnland on Burrower.
<br />I8, Borrower's Rigbi in Reinstate. If IhPrroacr meet+ccomin conditions. Burrower shall have fire right to hove
<br />enforcement of this Security Instrument ttisart)tintied al any lime poor to file eathel of (a) t days (,n such otlic, petuul as
<br />L 'ppiwahk law titai, specify filr reinvtaicineni) before site the NofK•rly pursuant :utg ;uswet Of „011.11e1 rat tins
<br />Security Instrument: tit (b) miry of a,ludginent rnfoicing this tiecurity lnstrumcnl I how r„udiurn,,it, thal Hot owcl
<br />(at ixays Lender ,111 souls whicli tiler, would he th.ie under this .wk,unti ltlblrnt kill and the N,cty had M, ,ircc•feianou
<br />< urre =d: (ill t,uraw Atli, (lefaull of any other covenants or agtrenients, ow) flays all catxnscs 1ltcutred tea cuh,ICmg Ott,
<br />`sue urlig limfurntlit, tndliAtile, but mil limticd to. Ica aina$ile altxtrne vs' 1,.- s, .oiti till takes tiuch ,1, ti'll1 ,ts Yoder n1,ra
<br />rea -A» IAh!y rcnluile tar assure that the lien of this'%ccurily Irtsiraitlis•ru. IXllder s rights nt lilt Pf"I'c11% .111(1 liori„oaet's
<br />6aSrgataos; fo ptsy that •alms oxt red 'hy thls sccnrlly lnsttioneril "hail ,otifinuc ui;.h.ms,?ni I - In,; a11"uicni tw
<br />tt rr rwerr. !his 1arcuruy luvlr nnictit mr;I itle nt,ltgatt "its st'c :urrd hr. tel +, 11 411 y , :,r.1r, 1,1H, r!),, _It,,: Unat !Lie!
<br />lf.l rt' r, till., rlghl ?„ ieilislvilsrehnH nni apply- ill ohs 1.:,se r.1 ,a I, !.'it , 1 ,,
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