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85- 005759
<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 ofany 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 evert of a partial taking of the Property.
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security instrument 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 (b) the fair market value of the Property immediately before the taking. Any balance shall he
<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 1 and Z 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 ur 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 1 -ender and Borrower, subject set 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 cutcey
<br />that Borrower's interest in 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 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 Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is suhject to a Iavt witch sets maximum loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected Or tO he collected in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall he reduced by the :mwunt
<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 reft,rd reduces principal. the reduction will he treated as a
<br />partial prepayment without any prepayment charge under the Note.
<br />13. legislation Affecting Lender's Rights. if enactment or expiration Of appiicahlc laws has the ctfect Of
<br />rendering any provision of the Note or this Security Instrument unenflorceahle accordi rig u, rn 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, Lender shall take the steps specified lit the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any notice to Borrower provided for in tits Secunty Instrument shall he given by dclitcrnig it or by
<br />mailing it by first class mail unless applicable law requires use of another method The notice shall he directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice tO Lender shall he given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Am notice
<br />provided form this Security Instrument shall be deemed to have keen given to Borrower or lender when givcu as provuled
<br />in this paragraph.
<br />iS. Governing law; Severability. This Security instrument shall he go %erncd by federal law :Old the law of the
<br />jurisdiction in which file Property is loca(ed. in the event that any provision Or elate Of this Secunty instrument or the
<br />Note conflicts with applicable law, such conflict shall not affect other provisions of tilts Secunty Instrument Or the Note
<br />which can be given effect without the conflicting provision. fo this end the provisions of this Secunty Instrument and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shah be given one conformed copy of the Note and of this Securit y I list runent
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property ur any
<br />interest tit it is sold or transferred for if a henc•ficuti interest nn Borrower is sold or transferred and llornmer is not it natural
<br />person) without Ieender's prior written consent. Lender may, at its option, require nnniedialc payment ill full of all sums
<br />secured by this Security Instrument. However, this option shall not he exeiciscd by Lender If exercise I% pnohihtted by
<br />federal law asofthe date o(thisSecurity Instrument.
<br />If Lender exercises tilts option, Lender shall give Borrower notice of accclerauon. 1 he notice shall pros rife ., per sent
<br />of not less than 30 days from the date the noucc is delivered or mauled within which Boro„cr nmst pity all sums soured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the evpiranon of 1111, period. Lender may Ott oke any
<br />remedies permitted by this Security Instrument without further tutee Or demand on Borrower
<br />IN. Borrower's Right to Reinstate. If Borrower rneets certain conditions, Ilorrower shall hate the right .a, hair
<br />cnfiircemcm of this Security Instrument diwonlinued at any little prior to the earlier Of la) 5 days tot such other period a,
<br />L applicable how may specify for reinstatement) hefore sale of' tile Properly pursuant to ,tin power of sale coutanoed tlt till
<br />Security instrument; or (h) entry of a judgment cofOrc•nig lilts Security Instrwn(nl i hose con,htons arc ih t flow„%,.?
<br />(a) pays I.crdcr all sums which Own would he title under this Sactlnty Inslruinrnl end the Note had nr rc �lcr:unm
<br />oecurrrd; 11)1 cures any default Of :airy other cotenants of agreements. (r) pays All ,•spcnses nt,urted 111 rnfon:nt): th1, h
<br />Security Instrument, including. 11111 nor limped to, reasOna blc actorncys' fees. and ((It tikes such a, ton ,1, 1 rmlci nniy j
<br />reasnnahly require to assure that the Item of tilts security Inslrtn11ent. Lcndct', light, in the 1'1,y1niy and Borl,n,r1 s 1
<br />obligamcai t„ pay tits runts secuicil loy tills Security Insrrumcm shalt r mllntic till, li.oni;r,l 1'I-11 icin.iatcmrni I,,
<br />Bofrowct. Ilse, Sr,;unly Irntrunwilt and Ihco1111gations sc,tirrd hcirht .11,1111e•111.1111 Inik r11rru,c.1, if n'' a", 1, Ildd
<br />n timed IL"Al ".0 the, rlghi fl, r -1110M NIM1l not ,1loplt 111 Ihr „nr of a„, i. rumen send. i p,ti, i 1 ,loll, 1 t.a
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