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F
<br />A
<br />85-- 004795
<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. inspectioa. Lender or its agent may snake 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. 'rhe 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 30 days after the date the notice is
<br />given, Lender I% 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 [ender 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 mortify 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 forbearance interest. Any forbeara by Lender in excrci,ing any right or remedy
<br />shall not be a waiver ofor preclude the exercise ofany right or remedy.
<br />11. Successors and Assigns Bound; ,Joint and Several Liability; Co- signers. The covenants and atgreeanenis of
<br />this Security Instrument shall hind and hencfit the successors and assigns of Lender and Borrnwcr. subject to the prof coons
<br />of paragraph 17. Borrower's covenants and agreements shall bejoint and several Any Horrnwer w ho .:o-signs this Security
<br />Instrument but does not execute the '.Vote. (a) is co- signing this Security instrument only to nuvrgage, grant and can %cy
<br />that Borrower's interest in the property under the terms of this Security Instrument: (131 I% not person dl% ,rhlig;itcd to pay
<br />the sums secured by this Security Instrument: and (c) agrees that Lender and any other Borrower Ina' agree 111 extend.
<br />modify• forbear or make any accommodations with regard to the terns of this Security in%trmnent , :r the Note %% shout
<br />that E31xrowcr',conxnt.
<br />12. Lorin Charges. If the loan secured by this Security Instrument is subject to a law which sets tnaxrmurn loan
<br />charges, and that law i% finally interpreted %o that the• interest or other loan cicu'ges coliected or no he Collected in
<br />connection with the loan exceed the permitted limits. then (a) any such loan Charge Shall Ile reduced In the ;m otim
<br />necessary to reduce the charge to the rwrmrtted limit; and (b) anv sums already collected from Borrower which exceeded
<br />permitted limits will lx refunded to lorrower. Lender may choose nu make this refilnd by rc•ducing the prncipal owed
<br />under the Note or by making a direct payment to Borrower If a refund reduces principal. nhc reduction will he treated as a
<br />Partial prepayment without any prepayment charge under the Note
<br />13. Legislation Affecting Lender's Rights, It enactment or e%pirahon of apphcahle law's has the effect of
<br />rendering any provision ill the Note, or this Security Inslrurncni unent2,rccahie acCOrcYnng to its terms, Lender, al its opuon.
<br />may require nnnicdtale payment nn full of all sums secured he tills Security Instrument and may trrokc any remedies
<br />permitted by paragraph 14 If Lender exercises this option. Lender shall lake the steps specrtied nI the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided ti,r to this Security 1w tnuneor shall he given b% dch%cring n or by
<br />mulling it fay first class marl unless applicable law requires use of anolhc•r crclhod 1 he ❑olive shall he directed to the
<br />Property Address tit any other address llorrowcr designates by notice to Lender Any nonce ;o Lender shall In given by
<br />first class snail to Lender's address stated herein or any other address Lender designates by oolwc u, Borrower. Anv noUCc
<br />provtded for in this Security Inwinnent shall he deemed up hate been given tr, Burrower of Lender when grvrn as prpv ndcd
<br />m this paragraph.
<br />Is. Governing Law; Severability. This Securn% Instrument shall be ovenrcd by tlyderal lam and the I'm of rile
<br />jurtsaiwtion in which tine Prupeny I% located, In the event Brat any pro%I,I:,n or clau,e of this sccunty Instrument or the
<br />rote conillets with ;applicable law, such conflict shall not affect other provisions of this Security Instrument or the Nole
<br />which can be given effect without the conflicting prnvlslon, fo tills rnd the provl,ron%of tilt, sceurtty Instru/ncnl mid the
<br />Note are declared its be severable.
<br />16. BorrowerNCopy, Borrower shall he given ,tic conh,rfri(A -opy ul the N „Ic.md of Iles Svc. urlly Ilt%tnmlcot
<br />17. Transfer of the Property or a Ileneficial Interest in Burrower. 11 all or :my part m the lltttp try or Int
<br />Interest in it is sold or transferred (or if a ticmeticial Interest air Borrower Is sold or I i an,fv sod :Ind Borr,acl I, it, t a trial air :d
<br />pero,ow without Lender's prior written consent, Lender rnay. at u% optn,n. requlrr nnmedlatc pay anent m full ,,I ,III .11111,
<br />secured by this Security instrtunent. Nuwc%cr, this option ,hall nut Ix cxciclscd by Lender It rxcrcl,c Is pI,•hltled by
<br />federal law as of the date ofI his Sccurnv Instrument.
<br />If 1..cndcr exercises this option, Lender shall give li,prrowcr nonr,:c of acvclertuou 7 lic maux shall prov I,tc .I pvi wif
<br />of nor less than 30day%from thcdate the notice isdeliveictl nr mauled %ilhi n whrrh Honours nnl,i pay :III vunis secured by
<br />this Security Instrument. If Airrower fails to pay these %loos folio, to the cxpirannn of flu, InYpod, Lrndcl nnq Invoke :anv
<br />retired”, permitted by this S"-unty Instrument without further nonce or demand on Horrower
<br />18. Borrower's Right to ftrinstate. If I9prrowcr mccn Ceruom CUtIIIlltltl,, 111t1llwel shall have the rwht to have
<br />cnforrcmcni of this Security Inorianient dix•rrnunucd at any little pour to the em her tit. (.I) shays for such other pell"d .n
<br />applicable law may .pacify for rettrstaiculenU before sale of tie Prope•ny pursu:ou to any pnwcr .d, d, r„nCUncd rn tilts
<br />Sccurlty Imsirwrient, ur (h) entry o d judgment eul'oicille tills saufll} lusrrnnrnt Ih„v ,,,❑down, a1, !hall ht„r„weI
<br />(a) pays Lr.ndct all sum, which diem would he Ilue under tlus sc•,un1% hasrurnerit .Ind Ili, Noiv had no .1,:cleianon
<br />ay.:urred (hi ;.arcs arty default n!' anv oth,rr vovcn:olts In agr•cntcnts. (, I pay, .III (X11Vls:•, 11),Urrelf ill rnit loot w chi.
<br />s<surry In,11unIVIII, Ino1aOing, hut lot liamcd h,. reasonable atlnnuy tie, ;Ind (.I) I,Ikv such :IrII,.?I Al 1 r,I,1,I wav
<br />reras,>nabie requre to asstrm` that (fie hen of tlms sc<curu% In %,lament. I cudo•r's rnln, :n Ili„ I'n +la,rn wd K'11
<br />ltllt<rtrzrl h t,ny I)?t' un1M ti;,ure,f 1r% Ills tir.iunly Instil Irn•r,I l,oii • ❑lulu, .ir;,l..v •:,{ t nr.l.11,.nlrIII I• t
<br />1N.. t•, a,' r, rhn4o:,; tltliln, ttgmu, t- uldlhcadtil�aUorns sruurdh•nh•,.L..i ,,neu „!ill fl,.�;
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