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004690
<br />85-
<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 Ibe
<br />1 insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law-
<br />3. 'Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Cruder
<br />a shall give Borrower notice 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, direct or consequential, to 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 Inatrurnent shall he 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 (bl the fair market value of the Property immediately before the taking. Any balance shall he
<br />paid to Borrower.
<br />i 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 />finless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nor 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 of 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 tlnc sums secured by this Security Instrument by reason of any demand made
<br />by the original Bormw'eror Borrowers 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 he joint and several. Any Boy rower who co -signs this Security
<br />instrument but dues not execute the `dote: (al 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: {hi is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender and any other Iittn-ower may agree tc 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 consent.
<br />12. Loan Charges. Mile loan wcured by this Security Instrument is suhleci to a tau which sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charge, collected or tit he :ollcocol in
<br />connection with the loan exceed the permitted limits, then: (a) ally such loan charge shall he reduced by the amount
<br />necessary to reduce file charge to the permitted limit: and (h) ally snms alread eollccuol front Borrower which exceeded
<br />permitted limits will be refunded to Iktrrowcr. Lender may choose to make tilt . refund by reducing the principal owed
<br />under the Ninr or by making a direct payment to Borrower. if a refund reduces principal, the reducuon will tit treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. Legislation Alfec ing Lender's Rights. If enactment of expu'ation of appheablc laws has Cite effect of
<br />rendering any provision of the Note or this Security Instrument unenfarccahlc a,:o,rdmg u+ its terns. Lender. at its option,
<br />may require immediate payment to full of all sums enured by tilts Security instrument and may imnke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps sperificd to the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Bor'rowcr provided for to this Security lnst:urnent shall tic given by dclncring it ur by
<br />mailing it by first class snail unless applicable law require, u%e of another method The nonce ,hull he ihrcoed to the
<br />Property Address or any other address Borrower designates by notice Ito I ender Any nolwt: h+ 1 ender .hull he gown by
<br />first class mail to Lender's address stand herein or any other address Lender designates by nnncc to Burrower Any notice
<br />provided for in this Security Instrument shall he deemed to have been given to %wrower or Lender uficn given as provided
<br />in this paragraph.
<br />15. Governing Lao. Severability. This Security instrument shall ix governed by federal Law and the law of the
<br />jurisdiction tit which the Property is located. In the event that any provision or clause itf tilts Security Instiuniem or the
<br />Note conflicts with applicable law. such conflict shall not affect other provisions of tills Set: unty Insuuntent or the Vote
<br />which can be given effect without the conflicting provision. To this end the provisions of tills Security Instrument and the
<br />Note are declared to le severahle.
<br />If. Borrower's Copy. Barrawer shall he given one cunforntad copy of the N tic and of tilts tieculny In,uunicnt
<br />17. Transfer of the Property or a Beneficial interest in Borrower. If all +r any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest to Borrower is sold or it aii4crrcd and Borrouci is not a natuur l
<br />peruri) without I..endcr's prior written consent, Lender may, at its option, requttc llonlV irate payment m foil Of All 10111%
<br />secured by this Security instrument. However. this option shall not lc exercised by Lender it c%c•r iw is piohihucti by
<br />federal law a% of the date of this Security instrument.
<br />If l.ruder exercises this option, Lender shall gi%c Borrower nonce of accrlrrutnon, The nnticr shall ploy rile a pctud
<br />of not less titan .10 days from the date the notice is delivered or mailed within which Kit rower must pay it II ,ums %e, tit by
<br />this Security Instrument. If Borrower fails to pay these suns prior a+ the c%piraauoil of Ihl% IVriod. Lender may unokc ally
<br />remedies permitted by this Security Instrument without furl her titltice or demand un Borrower.
<br />18. ilurrowerN Ri>ittt to Reinstate. If Borrower sleets ceriaiti condmons. Borrowct shall hate the right to tt :oc
<br />L enfirrcement of this Security Instrument discontinued at any ;tae prior to the earlier of (,If t days for such t'ther IXilod :a
<br />applicable law may specify for rrin%tatenicni 1 before sale of the Property pursuant to any power ,I salt: cunnatned nt tills
<br />`security Instrument; rx (h) entry of a judgment colork-mg this Security Instrument. Those tonofiun n ors that 14111tt"ACr
<br />fa) pays bender all suni% Ow.1i then would K. title :order tilts Secutny Instrument and the Note had no uccrlrrltu,n
<br />occurred: (Iii cures :toy default of ally other cmcnants or agreelllents, (ci pay, all espnns, :s IMlifieel ill vlilot,ing till,
<br />9ccurity instrument, sncludtog, but viol iinrlttsl to. reasonable ail line }1' lie,: and (tit take, "01 a.ti„n Al I .rider :n.ty
<br />rra%onably requite to assure that the 11an "1 tilts Sccurny in%trunuvtt. Lcndes'1 nwfo, m oho I'n ;.ono and km; ;•wrr
<br />obligation fn pa,. the sutras'ecured t,y tills Sccuniy Instrmncio ,11,01 :r,nunuc ;m;lr.en r,! 1 1 -11 caul .ucusrn; M
<br />lSootrnwrr. tilt, ~centre lrn%trtJffW411 rind tilt uhhg.atnms veeured hcrehc 11,,11; 1 11.,:u tt+ila ; P i;+- .;. ;i it, •: , :,a:vaf u h ni
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