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<br />85---e 002715
<br />It Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument,
<br />Boff pi�w RR thrpremiums required to maintain t insurance in effect until such time as the requirement for the
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<br />ins eiotiiki� I. - - I �41IMAccordanec with Borrower's and Lender's written agreement or applicable law.
<br />lend
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<br />4 , its agent may make reasonable entries upon and inspections of the Property. Lender
<br />$111aill give 110616V at the lithe of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. "On. 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 />lit 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 />paaid 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 Releawd; Forbearance By Leader 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 %"-ufity Instrument by reason of any demand made
<br />by the onginal Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />dWI not be a waiver of or preclude the exercise of any right or remedy.
<br />11. Successors and Assigns BOWA 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 IT 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; (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. Ioan Clitarges. 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 IJOrrOWCf`- If refund reduces principal, the reduction will be treated as a
<br />P&nW Prepayment without any PlePAY"►cat charge under the Note.
<br />13. LoCoWliatilin Affecting Uadw% Rights. If enactment or expiration of Applicable laws has the effect of
<br />rendering .any provision of the Note or this Sec=urity 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 Under exercises this option. Lender shall take the steps specified in the second paragraph of
<br />Paragraph 17.
<br />14. Notices. Any notice io ttorrower provided for in this Security Instrument shall be given by delivering i l l or by
<br />mailing it by first Class M411 uIllcm 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 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 deented to have been given it) Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Sevenkbility. This SmuntY 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 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 proviston. To this end the provisions of this Security Instrument and the
<br />Note am d"Jared to be severable.
<br />16. Borrower's Copy. Borrower shall he given one conformed copy of the Note and of this Security Instrument.
<br />17. Transfer 9( the Property to a Beadki&I IntervA in Borrower. if all of any part of the Property orally
<br />interest in it is sold or tran dierred (of if a beneficial interest in Borrower is sold or transferred and Borrower I% not a natural
<br />pawn) without Lender's prior written consent, IetWer may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument,. However, this option shall not he exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument,
<br />If L&mkr exercises this option, Lender shall give Borrower notice of acceler. lion. The notice shall provide a period
<br />of not ks& than 30days from the date the notice is delivered or mailed within which Borrower must PAY all sums secured by
<br />this Security Instrument. If Borrower falls to pay thew sunis prior to the expiration of this period, Lender may invoke Any
<br />ranedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />IS. Bormwers KWA to Reinallate. If Borrower meets certain condition,-#, Borrower %flail have the nght it) have
<br />enforcement of this Security Instrument discontinued at ally time prior to the earlier of: (a) 5 days (or such other period as
<br />a " law may specify for reinmarement) before sale of the Property pursuant to anv power of sale colitinned in this
<br />Sfturlty Imliffit"I'll; Of N entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would he due under this Security Instrument and the Note had no acceleratimi
<br />^cuircd, (b) corn any default of any other covenants or allrccmentk; (c) Pays ill cxPellsics incurred in enforcing fill%
<br />ut'llY Instrurnent. including, but nor limited tO. FcAmindble attorneys' loco; and (d) takes such Action as I ender may
<br />r fc4ulfe to azure that life hen of fhl% Set urily 111%ir"(flent, I,rndcr*% rights to the Prolietty anif Mwrower%
<br />(A44plioll to pay the %ullih, secured t)y this %fturily In%filialent %hail collillitle t1mhansLd I 11son reinstaielliefil by
<br />horrowcf, this Swctirov fivorurtmill i"(1 the ()N19411011% 1�"Uf-d hervh� %11411 r(L,f�'Ilfj JLJJJ� effeclIV.t. 4'
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