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85-- 002972
<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 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 />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 he 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 (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 Burrower, 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 opti:;n, 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 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 />shalt not be a waiver of or preclude the exercise of any right or remedy.
<br />II. Successors and Assigns Bound; Joint and Several Liability; Co- signer's. 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 Borrow'er'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. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum lean
<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 />permitted limits will he 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, tho. reduction will he treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Tender's Rights. 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, (.ender, at its option,
<br />may require immediate payment in full of all sums secured by this Security Instrument any' may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified Ill the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Security instrument shall he given by delivering it or by
<br />mailing 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 Lender. Any notice to Lender shall he 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 Borrower or Lender when given as provided
<br />Ili this paragraph.
<br />15. Governing Law; Severability. "Phis Security Instrunlcnt shrill he go%crned by federal law anal the I:Ia of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause elf tilts Security ill Irinncnt or the
<br />Note conflicts with applicable; law, such conflict shall not affect other proviswns of this Security Instrttnls ll the time
<br />which can be given effect without the cemflicting provision. Yo this cnd the provisions of this Sccurlty Instrunlcnt and the
<br />Note are declared to ht severable.
<br />16. Borrower's Copy. Borrower shall be Liven one conformed copy of the Note and of Ibis Security Instrument.
<br />17. Transfer of the Property or a ieneficial interest in Borrower. If all or and part of the Property or ane
<br />interest in it is sold or transferred (or if a beneficial interest in borrower is sold or iransfcrr'cd and l3onowcr rs n. }t a natural
<br />persclrt) without let►der's prior written consent, Lender play, at its uptron, require unrnc,ilate p,rynlent ur full ,f
<br />:Ill sums
<br />secured by this Security instrument. However, this option shall not he rxcictscd h� I.ellder tf e.xcicisc Is pr'lhlhrlcd bo
<br />federal law as of the date ofthis Security Instrunlcnt.
<br />if Lender exercises tills option, Lender shall give Borrower nonce of ac•celeratlun. The n„t Ic e shall p1m Idc ,I perlod
<br />of nut less than 30 clays from the date the notice is delivered or mailed within mbleu ilon r,acr must pity ;Ill nuns sc� nrcd 1��
<br />this Security Instrument. If Borrower tails to pay thcsc sums prior Io the cxpll;tIloll (f'this pel it I cndel It )a.% Inc„kc :Ilse
<br />remedies permitted by tlit,, Sec Ili.,Iy i list Rnnent wilflotlt I'llI thee rk)tlCc or derildalid oil Hill Io%%c1
<br />18. Borrower's Right to Reinstate. If Ilorrl,aer meets c:crtain eondrUons. itnrroacI shall lime the right
<br />enforcement of this Security Ilistrullient discontinued at all time,' pi l,,r' to the eaI he'r i,f (,!) ll :1y'r IoI' silch )Illc•r pct itod
<br />isphlicahle lira may specify tier rclrlstalclnent) hcfi,re sale of the 1'1 „perty pursuant I„ any p„��ri I} side „nt,unrd ul fills
<br />tiecnrlty instri.Inlcni; or (b) crltry ofa ludp ;nil nt cnfor'ting this Set., it)
<br />(nstrunr,-r i l hotic c„nilttl�,ns .uc Ih;lt Ii ;,l r,I�ecr For!
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<br />rt;S'rlried :, till c.'no.'b {Illy ll(I"11111 l)f :trli, other , :,riCnallk ut agicelrlerlt "' (G) pa}', all t' \ih'I!S�'ti IllctiriCll In Cllt�,l�ln�' flu\
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