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85--. 002604
<br />1 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 />B. 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 Secunty 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 pnncipal 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 Leader Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Secunty 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 of or preclude the exercise of any right or remedy.
<br />I I. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of
<br />this Secunty 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 Secunty Instrument only to mortgage, grant and convey
<br />that Borrower's interest in the Property under the terms of this Secunty Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Secunty 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. Lclan 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 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. 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 Secunty 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 n 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 Lender. Any notice to Lender shall be given by
<br />first class mad to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any nolicc
<br />provided for in this Secunty Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in i his paragraph.
<br />15. Governing Law; Sevenbility. This Secunty 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 provision or clause of this Security instrument or Ow
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the N -te
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security In-munnent and the
<br />Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and i,f this Securt) Instrument
<br />17. Transfer of The Property or a Beneficial Interest in Borrower. If all or an% part of the Pro;xrty or an,
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower t% not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require unmediate payment in full of all sum,
<br />secured by this Secunty Instrument. However, this option shall not be exercised b) Lender if exercise n prohibited hI
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceler,.tion I fie notice shall provide a pet loot
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all rums secured ha
<br />this Security instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender ma) nookc aria
<br />remedies permitted by this Secunty instrument without further notice or demand on Borrower
<br />1`. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to hale
<br />enforcement of this Security Instrument discontinued at any time pnor to the earlier of (a) s days for such other pet not us
<br />applicable law may specify for reinstatement) before talc of the Properly pursuant to an) power of %ilie oonialned III this
<br />Secunty Instrument, or tbd entry of a Judgment enforcing this Secunty instrument I hose "ondittons are that Bormwel
<br />fat pa)% Lerider all sums which I;het1 would be due under this Security Instrument and tine Note had uo acccleiatlo
<br />acurred, IN cures any default cif an) other covenants or agreements, (c) pays all cxlxines incurred ni etiforcm', the•
<br />Set urst) Insirunteot, including, but not limited to, feaxinable attorneys' fees, and Id) takes such a Uun as l en.ir; n,a�
<br />reasonably reyunc ti, attune that the hen of this Sccurny Instrument. Lender's lights ni the 1'n,per) ,Ind Bolt-%r!
<br />'rt+ltsatwn t., rid) the %urn% cured by this Security Instrument .hall conthnuc uniliang,ed I inai ieltlsi,rlemrni hI
<br />,rio%ci, thin Securny inslruntuit and the obhgatiout tecuicd hetcb% shall rrmain till!) efl'erU�r a. it 11,••11 ha,t
<br />or<:cutirtj Ifo%ever.!hitright lu retnAlatc %hail tort apply in the aerie of :I,.:,eirtutiun nndet i•.uapr t; *s 1 +o. i
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