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85-1004036
<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 Propert y. Lender
<br />shall give Borrower nonce 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, director consequential, in connection with
<br />anv condemnation or other taking of any pan 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. dislded 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, Larder 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 i:ecunty 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 Secunty Instrument granted b% 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 Secunn 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 />11. Successors and Assigns Bound; 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 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 Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the tents of this Security Instrument (b) is riot personally obligated to pay
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower map agree to extend.
<br />modifv. forbear or make any accommodations with regard to the terms of this Secunty Instrument or the Note without
<br />that Borrower's consent.
<br />11. Loan Charges. if the loan secured by this Security Instrument is subtect 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 he reduced by the amount
<br />necessan• 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. Iender ma% choose u\ 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 !rote or this Secunty Instrument unenfoi ceable according to Its terms, Lender, at its option.
<br />may require immediate payment m full of all sums secured by this Secunty Instrument and may invoke any remedies
<br />permitted by paragraph l9 If Lender exercises tills option. Lender shall take the steps specified in the second paragraph of
<br />paragraph l7
<br />14. Notices. Any notice to &grower provided for in this Secunty Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method The notice shall he directed to the
<br />Property Address or any other address Borrower designates by notice Ie 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 Secunty Instrument, shall he deemed to have been given I;\ Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Secunty Instrument shall he 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 Secunty Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument 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 of this Secunty Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Horrowcr is sold or transferred and Borrower a not a natural
<br />person) without Lender's prior wntien consent. Lender may, at Its option, require immediate payment in full of all wilts
<br />secured by this Secunty Instrument. However. this option shall not he exercised by Lender if exercise is prohibited hr
<br />federal law as of the date of this Secunty Instrument.
<br />If Lender exercises this option. Lender shall give Borrower notice of acceleration I'he notice shall provide a period
<br />of not Im than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sun% prior I(, the expiration this period. Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or dent_!" Ian Borrower
<br />18. Borrower's Right to Reinstate. If Borrower meet certain conditions. Borrower shall have the right to hasc
<br />enforcement of this Secunty Instrumeni discontinued at any time prior to the earlier of (a 15 days (or such other pencu9 as
<br />applicable law map specify for reinstatement) before sale of the Prope-m pursuant to anv power of <ale contained in this
<br />Secunty Instrument, or )hi entry of a Judgment enforcing th% Secunty Instrument Those conditlons are shat Nilro%%er
<br />(a) pays Lender all sums %'itch then would he due under this Secunty Instrument and the sole had rill acrelcrarlon
<br />recurred, fhb cures arty default of any other covenants or agreenlcnrs, (cl pays Al e%rci ses imurred ill c^nliorcink !hls
<br />r.
<br />Smunty Insinimew. Including. but not hmited tl• reasonable attorney,' fees and till lakes such alnon as Lender :Wily
<br />I"AA1001y requur hl assure that the Iron of th% Sccurit limrlmrm• i.cltdrr'l lights ill -tic I'rosvcrt\ a119
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