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5-_ 009177
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrumen?,
<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 ins
<br />shall gi'. a Borrower notice at the time of or prior 'to an inspection s inspections for e i the Property. Lender
<br />P pe pacifying 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 Propertx•,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />h 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 he
<br />paid to Borrower.
<br />l If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />m
<br />make an award or settle a claim for daages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorize4 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 1 and 2 or change the amount of such payments
<br />10. Borrower Not Released; Forbearance By Lender Not a Wailer. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrurnent granted by Lender to any successor in
<br />interest of Borrower shall not operate to release the liability of the onginal Borrower or Brrower'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 r otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made
<br />by the original Borrower or Borr'ower'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 />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers.
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, surbje t t the t provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Secunri
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and con%,eN'
<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 />modif), 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 Jean
<br />charges, and that law is finally interpreted so that the interest or other loan charges colleted or to be collected ui
<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 tills refund by reducing the principal ourt3 e
<br />under the Note or by making a direct payment to Borrower. if a refund reduces principal, the reduction will he 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 ;,t
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender. at its optsori.
<br />may require immediate payment in full of all sums secured by this Security Instrument and may inti(,ke any rrniresirs
<br />permitted by paragraph 19. If Lender exercises tills option, Lender shall take the steps specified in the second paragraph ,,,
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in this Seiurity Instrument shall be gi`cn h> dcli.cring,t or hti
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall t>r dirretrcf t; riot
<br />Property Address or any other address Borrower designates by notice to Lender rotuc tt L.rnder ,hail hr gisrn h,
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower .Arty notice
<br />pith riled for in this Security Instrument shall be deemed to have hero given to Borrower or Lender when gi�cn as prw. idc.l
<br />in this paragraph.
<br />15. Governing Law; Severability. This Secunty Instrument shall he go, erned by federal law and the 1 aw of the
<br />Jurisdiction in which the Property is located. In the event that any provision or clause of this Sccurii% Instrument of shy
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of this Securlt} instrutrirnt it tilt \; to
<br />which can be given etsect without the conflicting provision To this end the prop isi(?ns :'f this Srcurit ]nstrurric °nt le olt
<br />Note are declared to be severable.
<br />16. Borrower's Copy, Borrower shall Fie given one conformed copy of the lotr jilts i)t tills Security lnstrurticii;
<br />17. Transfer of the Property or a Beneficial interest in Borrower. If all or any part of the I'rc,prrti or aii1
<br />interest in it is sold or transferred (or if a beneflcial interest in Borrower is sold or transferred anti Borrower is not a natural
<br />Person) without Lender's prior written consent. Lender may, at its option, require itnrt,ediale paenient an full of all suns.
<br />secured by this Security Instrument. However, this option shall not he exelcrsco by Lrndrr if exercise is pr(,hihitrtl
<br />federal law, as of the date of this Security Instrument.
<br />If Lender exercises this option, Lender shall glve Borrower notice of acs rlrtallon I he notice shall ill ()l, ode j l�rri,,o
<br />of not less than 30 days from the date the notice is delivered or mailed within w hll h Borr('w er must pas all sums se, uic 4,i f9
<br />this Smunty Instrument. If Borrower fails to pay these sums prior to the expiration of this 1 ri,�1, I.rticfer r,ias iri�sr�e ;,tit
<br />remedies permitted by this Security Instrument without further notate or demand ()it B(}rrvwer
<br />IS. Borrower's Rim to Reinstate. If Borrower meets certa►n condatictns. I3(,rr(,wer shall taasc the right I" hs�c
<br />er►forsernent of this Sec Instrument discontinued at any time prior to the. carliei „9 t.a3 4s sea IF�r such ��thrr 1ri� ��
<br />applicable law may specify for reinstatement) refine sale of the Propert} pursuant t�� jii� I' °4ac'r ,,j sjlr ,,,sit;(ir,(°�f ui
<br />ScCurily Instrurnent, or (b) entry of a Judgment enforcing' this Sci :uriti liistrun c°iii l i1c, e ;_, i= ftt;t ik� ,arc PiY,(t
<br />(a) per }s Lender all sums which then would be
<br />(x:curtea !h tires any other cutiduc under this Security lnstrui,,(i,r 41;d ihs
<br />default of an o e
<br />y rnjnl� ;Yr �(r4"t Fratmrit j. tt) F?j lh tail c'Aj }e .:e'� lip_ „r:,i t`t)1:. i� •”
<br />curets, lriattusnent, ,rrcluding but not liniitcaJ t��.
<br />rea,t�abia rc titre tai 3t att�,rti�4' [cc °;. �srs.a s' t.ak a s, I
<br />assure that the lien of tills
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<br />`a5 c�uteet t1�
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<br />a;et, stria °vrr U! it laisir'urT,e,nt arc thf �,tr ,
<br />lat;jt�; ri °��t -ra
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