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85-0 003941
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security instrument,
<br />1 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'sand Lender's written agreement or applicable law.
<br />S. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender
<br />shall give Borrower notice at the time pror 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 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 />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 />giver,, 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 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 `>y 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 orotherwise modify amortization of the sums secured by this Security instrument by reasem 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 />11. Successors and Assigns Bound; Joint and Several Liability; Co- signets. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Burrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall he 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 it) pay
<br />the sums secured by this Security instrument, and tc) agrees that Lender and any other Horrow'e'r 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 consen t.
<br />12. Loan Charges. If the loan secured by this Security instrument is subject to it law which sets maximum loan
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<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 Pe rmittcd limits. then: (a) any such loan charge shall he reduced Ili, the amount
<br />necessary to reduce the charge to the permitted limit; and (b) air) %ums already collected front Borrower winch exceeded
<br />A
<br />permitted limits will be refunded to Burrower. Lender mar choose to make this refund in reducing the principal owed
<br />under the Note or by making a direct payment to Borrower If it refund reduces principal, the reduction will he treated as it
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Affecting Lender's Rights. If enactment ur expiration of applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument uncnforceable according to Its tcrrns, Lender, at its optloll,
<br />may require immediate payment tin full of all sums secured by this Security Instrument and may invoke any rennedlcs
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified to the second paragraph of
<br />paragraph 17.
<br />14, Notices. Any' nonce to Borrower provided fill in this Secant} Instrument 01311 he glsen fly dellverink it or by
<br />mailing it by first class instil unless applicable law requires use of ;another method, 11r notice shall lc directed to the
<br />Property Address or any other address 13orrow'er designates h) 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 Horrower Any notice
<br />provided for in this Security Instrument shalt bit deemed to have been given to Burrower or Lender w hell given :u provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall he co,eincd 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 thts Security ln"Itull)c•nt or the
<br />Note conflicts with applicable law, such conflict shall not affect tither provisions of this Secunt) insrrurnent or the Note
<br />which call be given effect without the conflicting provision. fo this end the provisions of this Security hlstrumcnl and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy o f f he Note and of this Security In.trurilenl
<br />17. Transfer of the Property or a Beneficial interest in Borrower. If all or any pan of the Piofcric or an)
<br />interest m it . sold or transferred fill if a txneficial Interest In Horrower is sold or transferred and Horrower is not it natural
<br />person) without Lender'. prior written consent, Lender may, at ns option, require Irnrnediatc payment tit full of Al Sums
<br />secured by this Security Instrument. However, this option shall not he exercised by Lender it exercise is prolubiled b)
<br />federal law as of the date of this Security Instrument.
<br />If Lender exercises this. option, Lender shall give llortower notice of acceleration the nonce shall pen\ Idc d Icnod
<br />of not less than 30 days from file date the not is delivered or mauled within which lit it nrllst pay 111 sums st•culed by
<br />This Security Instrument. If Borrower fails to pay these sums prior to ilie expiration oft his period, I cndel play nn Ike any
<br />remedies permitted by this Security Instrument without further notice or demand on Horn iwer.
<br />18. Borrower's Right to Reinstate, if Ilorrowex rneel %certain conditions, Horrower shall have the right to hi,e
<br />enforcement of this Security Irisrrunlenl discontinued at any time prior to the earlier off (a) y Buys (or such. other l,ctnrd as
<br />applicable law may specify for reiastatennem) before sale of ncc Pioliool) pursuant Io any plover of sale otit.oiwd nl tills
<br />L Security instrument. or Ili)cnt►'y id'a)udgment enforcing this Securit) losuuinclit Those rnndlrlons ae that li, +irowet
<br />ta) pay-. I.rndcr all sums sheep theft would ht1 due Milder this Sectati) l istrillllenl ind Ill,' Now liad Ito d�CC'Iel atil Ht
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<br />occurred; (h) cure-. any default of any other covenants Ile agrcenrant >: (c) pa)-. all cxlcnse0 incurred ill klllolcurg 1111,
<br />Scvunty Instrument, Including, but not limited io, reasonable :Ittorne)s' feel,: did till takes .urh ,r:Utal .rs I ender m,i,
<br />rcasomahl) requite to assure that the lien of this Security Instruinc•nt. Lender's nKhts In Ill,' Pet +poly an,f Hen, rat's
<br />obligittioli tt, hit) till' ' kj nl-. secured by this tilt urity In1i)iltttew 01,111 om,1I111e till,' hall)'t'd 1 t-:1 rellll,lalt'111
<br />lloirowilt, Ihll,tieillol, III ,liniment and flit' obliji,moitl, -.t'Ltlivif bt'reht 01,111 1t'111.111110111 ,'Ifc'1111i' .1, 0 it.., I,. "I" I.1110111Mli
<br />, c'III Ir'1f II,, w,'\cr. [ills rip lit to remiame sit it I not ilpp 1, tit Ili,' k ;i,r �•l ,i,., 1'11'r,it l l•. I I II I; L!I ? I`.r l , t 1'!.11 ` 11, 1 1 r,, I'
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