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85-- 004292
<br />If Lender required mortgage insurance as a condition of nuking the loan secured by this Security Instrument,
<br />F 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 of or prior to an inspection specifying reasonable cause for the ins^- etion.
<br />9. Condeoption, 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 />given, 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 Leader 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 />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 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 />modifv, forbear or make anv accommodations with regard to the terms of this Security instrument Witte Note without
<br />that Borrower's consent.
<br />12. Lora Charges, If the loan secured by this Security Instrument is subject 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 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 />pants] 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 Security Instrument unenforceable according to its terms, Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Secunty 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, Nottices, Any notice 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 notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Goner sting Law; Sesersibility. 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 />Sole conflicts with applicable law, such conflict shall not affect other provisions of this Secunty Instrument or the Note
<br />which can he 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 Security Instrument.
<br />17• Trxriier 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 />perwn) without Lender's prior written 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 Secunty Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of nor 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 invoke any
<br />remalus permuted by this Security Instrument without further notice or demand on Borrower.
<br />1g. Borrower's RigM to Roinsiste, if Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security instrument di continued at any time prior to the earlier of (a) y days (or such other penod as
<br />L applicable is* may, specify for reinstatement) before sale of the Property pursuant to any power of sale contained m this
<br />Security Instrument; or (hr entry of a judgment enforcing this Secunty Instrument. thane conditions arc that iiurro »rr
<br />is) pays Lender All sums which then would he due under this Sesunty Instrument and the dole had it,) Acceleration
<br />occurred; (h) cures Any default of any ether covcnarits or agrc4 mcnts, ic) pays all expenses incurred in enforcing this r`
<br />Security instrument. including. but nit iimaw to, reau >nabie att,,rncys' fee%, and (d) takes vu,:h ;action a, Lender may
<br />reasonably require tai assure that flat lien of this ticCUriry [rasrrumer3a. Lender v rights in the I'rolvrty and li,nrn »re's
<br />tiligatc:ai ti's pay the Mums secured by this Scuriry ln,trarneni .!call :ontinue allcharihe,l l't,:n rrin.t;ircineni !'v
<br />ii,strower, iliia ies'i,ray Imirutnerit. nod then! ^li atinnv Lcureet hcrchy .hall n:'rriain'311% ""(% .1,;f n; 1- :1.1eration ha,
<br />..erred If- ar,er. tiii, rtrht to r, Inaiat: ,h� I; m>r al i.iy m the _a,a i a; :: ��, ii:,-:, t,u,;rr t i, rpr 1;, , 1 ,
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