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85- 004.108
<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 />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 ofor 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 />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 Cite taking, di%ided 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 />gip en, 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 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 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 />pavmcnt or otherwise modify amortization of the sums secured by this Security instrument by reason ofany 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 waver 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 terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Secunty 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'sconseni.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan
<br />chargm 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 Borrower if a refund reduces principal, the reduction will be treated as a
<br />parnal 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 Note or this Secunty 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 Lender exercises this option, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17
<br />14. Notices. Any nonce to Borrower provided for in this Security 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 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 noucc
<br />pro %idled for in this Secunty Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph
<br />15. Governing Law; Severability. This Security 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 green 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 Security 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 Borrower is sold or transferred and Borrower is not a natural
<br />persona without Lender's pnor wntten consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument,
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a penod
<br />of not less 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 sums prior to the expiration of this period, Lender may smoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />11. Borrower's Right to Reinstate. if Borrower meets certain conditions, Borrower shall have the right tit have
<br />enforcement of this Security Instrument dtstontinued at any tittle prior to the earlier of. (a) S days (or such other period as
<br />L Applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained m this Eli
<br />Sevurlty ln.trument. or (b) entry of a judgment enforcing this Secunty Instrument Those conditions are that lorrower
<br />!ai pays l.enJer 411 %urns which then would be due under this Security Instrument and the Note had no acceleuruon
<br />,KCarred !bl :tires any default of any other co%enarits or agreements, (c) pays all expenses incurred lei rnforcu/g thly
<br />rec..r,+y 1nv;rurncni, including. t+ui nut hnuteJ w, reasonable attorneys' fees, and (d) takes such action a% Lenart nl:i% iA1
<br />rcau alab;� rcyuue lr� xvsurr !hat 1)u hen i,f this Securtiy In%trunleni. I. lender's rights in the Prulwrty And llotr,:wrr .
<br />biig4n•.n 1.. ""Al the vumv %ec ired by tills Security Instrument shall ♦(411nluc unchanged t'pon reul%lAirnll'tu rev
<br />fi ar. wet th:y ,,,rs9} 1n%t1ur»en1 an,t the b'iigauum eevu+cd here6% %h kl1 ret114M fUlly effCttl%e 4y 11 tH: di,CleLNirn h.i,!
<br />it r.ei ilia rlghl 1:, rent %tale vhAll nrrt apply m the �Ase „f a.. rtcran„r uncle+ paragraph% ' , r I'
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