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85- 004467
<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 of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. CondenrnnNon. 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 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 .10 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 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 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 />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Vote without
<br />that Borrower'sconsent.
<br />12. Loan 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 %hail to 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 thi% refund by reducing the principal owed
<br />under the Note or by makutg a direct payment to Borrower. If a refund reduces principal, the reduction will be treated a%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 Note or this Security Instrumcnt unenforceable according tit 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. Lcndcr shall take the steps %pecified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice. to Borrower provided for in this Security Instrumcnt %hall he green by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another mcthrnl. 'The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice tit Lcndcr. Any nonce to Lcnder shall he given by
<br />first class mail to Lender's addres %stated herein or any tither address Lender designate-, by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have ltcen given ul Rorrowcr or Lender when givcn as provided
<br />in this paragraph.
<br />15. Governing Law; Severabilily. This Security In%trunncni %hall to go%crncd by federal law and file law of the
<br />jurisdiction in which the Property i% located. In the event that any provision or clause of this Security instrument or file
<br />Note conflicts with applicable law, such conflict shall not affico other pfovislon% of thi% Security Instrument or the Note
<br />which can he given effect without the Conflicting prov i• ion to this end the provisions of fill-, Security In%trtuncnt and Itic
<br />Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall he given one conforneed copy of the Note and of till% Securuy In%trumlent.
<br />17, Transfer of the Property or a Beneficial interest in Borrower. 11':dl or any part of the Pruiorty or any
<br />interest in it is sold or transferred (or if a beneficial interest in florutwcr i% sold or transferred and fiorrower I% not a natural
<br />lwrwn) without Lender's prior written consent. Lender may, at it%option. require immediate payntcnl m full of all stuns
<br />secured by this Security Instrument. However. this option shall not be exclowd by Lcnder d excrow Is prohibited by
<br />federal law as of the date ofthis Security Instrument.
<br />If lender exercises this option, Lender shall give Borrower notice of acceleration `rite notice shall pro v idea loriod
<br />of not less than t0 days from the date the notice is deh%ercd or mailed within which Borrower nrtut pay all mums secured by
<br />this Security Instrument. If Borrower fails to pay these wins poor t(it tic "Ill ration of tht% loriod. Lcndcr may Invoke sly
<br />remedies permitted by the Security Instrumcnt without further not or demand on Borrower.
<br />13. Borrower's Right to Reinstate. If Borrower meets certain Conditions, Borrower %hall ha%c the right to hate
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of 015 days for such other period am
<br />L apphcahie law may specify for reinstatement) heforc saic of the Property pursuant to sly power of %dc crnitnncd in Ills
<br />Security Instrumcnt: or (b) entry ol'ajudgment enforcing fill Sccuroy Instrunlrnt Ihosc mondimous arc Ihat Borrower
<br />(a) pays Lender all sum% which then would to due under this Securely I list lunncnt and the Note had n„ acceleration
<br />oCCUned; Ih) cures any default of any other co%cnant% of agteenecof%; (c) pays all expeuscs Incurred I1 enfolong tiles
<br />>ccurity Instrumcnl, inctudutg, but oat limited to, teasonahle attorneys' fcc%; and ill Lnkrm such .action as 1 entire may
<br />resr%unahly regmirc to assure that the lice of the% Security Instrumcnl, Lender'% rights tit the I'rupern .u1.1 ih +n owrr'm
<br />obhgiown In pity the suers secured by Ili% Security Insirurucnl %hall ennnnuc unrlumgrd 1'1%,11 X111,1.61 anvil by
<br />h rr, wrr. this See only Instrument and Iltc nhhlaati ats secured hcrvbh ,11,111 rt ne,un filly atlr, nmc as If no;urckrralr, r, had
<br />gin.,uue;i fhwcsrr, Ihlmtightlitrc ^ulslatrsh;dlurnallpl %m I11;as vot'l,v irr ;llwla11dri Ii,.,11
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