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101 a4
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<br />85-004783
<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. 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. Condemnation. The proceeds of any award or claim for damages, director consequential, in connection with
<br />any condemnation or other taking of any pan 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 authorize(j 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 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 />shalt 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. suhject 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 onh to mortgage, grant and convey
<br />that Borrower's interest im the Property under the terms of this Security Instrument: (h) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees that Lender aril any other Burrower 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's consent.
<br />12. Loan Charges, If the loan secured by this Security ln%tnlment is subject to a taw which +cis Inaximurn loan
<br />charge-%. and that law is finally interpreted so that the interest or other loan charges collected or In be collected in
<br />connection with the loan exceed the permitted limits. then: (a) any such loan charge shall he reduced by the amount
<br />necessary to reduce the charge to the permitted limit: and (b) any sum already collected trum Burrower which exceeded
<br />permitted limits will be refunded to Borrowet. Lender may choose 10 111,IkC she refntrd he reducing the principal owed
<br />under the Note or by making a direct payment to Borrnwcr. If a refund reduces principal, the reduction will be treated as it
<br />partial prepayment %miahout am prepayment charge under the Note
<br />13. Legislation Affecting Lender's Rights. if enactment I,r Cxplratton of applicable laws has the effect of
<br />rendering any provision of the !Soto or this'imurmv instrument unenf',irceahic accordnig to ms terms, Lender. at its option,
<br />may require immediate payment in full of all sum+ %CCUred by tht% SCCUrity lmnunacnt :end may invoke any remedies
<br />permitted by paragraph 114 If Lender exercises this option, Lender shall take the steps sriccified In the wcond paragraph of
<br />paragraph 17
<br />14. Notices. Any nutice to Borrower provided file in this Securty Instrument shall to given by delivering 11 or by
<br />mailing it by first class mail unless applicable law require+ use .it another method. The nonce shall be directed to the
<br />Property Address or any Lather address Borrower designates by nonce tie i ender. Airy notice to Lender shall tic 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 tit this Security Instrument shall be deemed to hale been given In Borrower or Lender when given as provided
<br />to this paragraph.
<br />15. Governing Law; Severability. 1 tai% Security instrument shall he poterned hi federal law and the law of the
<br />jurisdiction in which the Property is located. in the went that any provision or clatiw of tills Security lnstrur ent or the
<br />Note conflicts with applicable law. such cunfllct shall not affect other pruclslom of this Security hisirunictil or the Note
<br />which can he given effect without the conflicting provision. Tn the end the provisions of this Security lnslitinlent and the
<br />:Vote are declared to he severable.
<br />16. Borrower's Copy. Borrower shall he glen role I nformed copy of the Note and of this security l list runu•ul
<br />17. 'Transfer of the Property or a Beneficial Interest in Borrower. If all rer any part of the property or ant,
<br />interest tit it is sold or transferred for If a bencticiad interest tl Borrower 1% said or transferred and Borrower is not a n :durl
<br />person) without Lcnder'% prior written consent, Lender Ina%.:t ns option, regotre Immediate p:aynicul Ill full "fa]) aims
<br />secured by till-, Security Instrument. However, this option shall it,,[ he exelciscd hg I.cndo if exercise Is prohibited by
<br />federal law as of the date of this Securil y Instrument.
<br />If Lcnder c%crciwrs this option, Lender shall give Borrower nottcc of acceleration flit- notice shall provide a periled
<br />of not less than 30day%from the dale the notice is delivered or mailed within which Borrnwcr roust pay ;ell sums secured by
<br />this Security instrument. If llorniwer fails uo pay these sunis prior to Itic expir aeon of this period. Lcnder nw7 utvo{st- any
<br />remedies permitted by this Security Instrument without further notice of elan :m l on Bor owcl
<br />18. Borrower's Right to Reinstate. It Borrower mesas certain conditl"ll" Holm"Cr %hill[ hate the right tut haxc
<br />enforcement of This Security histrumcnl discontinued at any tiro, prig o the i rimer 0f (,u s days 1 1 such ,abet poi l,ad as
<br />Lap plicandc law reap +pxcll'y for rednslaternent) 1.01ore +:ale of the Property punt Ini an pl•wrl vale ,onr:nned in Ills
<br />vet urity Instrument, ot (h) entry o'I'a pidgrilrnl enf0r,nig till% securlty Inslrilnn•nI I h,lu r, n,huun•. mc th•11 liollo%k't
<br />ia) pr €tys I rudcl all %unit• who h thcrl would KC due• under tilts Sri tirlty Instrument ;In,f the Nr,Ir h.id IM, a „rlrlatl, Ill
<br />„LCuired. Ill ,.tire.% aria default „l any olhev t,lcenaiw, it grrCn,entr. r.. I pays .III , Lprnsrs nl.tirnrd uI cnG,r,nlh Iles
<br />iccunty possiuneerti, 'titludntg, knit 1101 Imnted l”, rr;isonahlr At"illcys' t,,, :naJ id I,il.os ,u, It a, ton .i+ 1 endei m,it
<br />Ira %i'rlahiy trgl)ne' to a%t•tilC' plat itri•_ IIUn of tins fir,,: 111 eta I11',It ❑Il!,'III. 1 rq,, ?,•i . t1y,'lii. tit Ih,' 1': npt'r 11 'Ind H„111,tt Pf •.
<br />.,hi,pn, =I, In ! "e fit,, siit:is sv.urrd by this Securily Imlitmiciii 01411i „ -tIr Ar,t1.IIWr,l 1 tau, irin.11'rin<',tI Ili
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