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85-- 005781
<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 />g. 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 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 1 7. 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 terns 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 Note without
<br />that Borrower's consent.
<br />11. 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 shall be 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 chore to make this refund by reducing the principal owed
<br />under the Note or by making a direct payment to Borrower If a refund reduces principal, the reduction will be 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 applicable laws has the effect of
<br />rendering am provision of the Note or this Secunty Instrument unenforceable according to 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 14 If Lender exercises this option. Lender shall take the sicps specified in the second paragraph of
<br />paragraph 17
<br />14, Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or b%
<br />marling at by first class marl unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class marl to L.ender's address stated herein or any other address Lender designates by notice to Borrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />IS. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Properly is located In the event that any provision or clause of this Security Instrument or the
<br />'.tote conflicts with applicable law, such conflict shall not
<br />affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the
<br />Note are deelared to be severable.
<br />16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument
<br />17. Transfer of the Property or a Beneficial interest in Borrower. if all or any pan of the Property or any
<br />Interest in it is sold or transferred (or da beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />pervon) without Lender's pnor written consent. Lender may, at its option, require immediate payment in full of all sums
<br />secured m this Secunty instrument However, this option shall riot be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Securty Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered
<br />or mailed within which Borrower must pay all sums secured h%
<br />this lieeunty Instrument. If Borrower fails to pay these sums pnor to the expiration of this period, Lender may invoke
<br />any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />]t. Borrower's Right to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have•
<br />enforcement of this Security Instrument discontinued at any time
<br />prior to the earlier of: (a) S days (or such other peruxf as
<br />Applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in Ow,
<br />Sec•urit% Instrument, or (bi entry of a
<br />judgment enforcing this Security Instrument Those conditions are that Ilurrowet
<br />tar pays Lcnder all sums which then would be due undrr this Security Instrument and the Note had
<br />no a%ceter;riu,n
<br />xcurred (hi cures any default of any other covenants or a reernrnts. (c) pe
<br />k pays all ex nsr: incurred in enforcing it,,,
<br />Seturirs Insirurnent. including, but hot limned to, reasonable attorneys' fm, arid (d) takes
<br />°
<br />to
<br />such action as t ender ma,
<br />reasonabh require i , assure that the hen of this %ecunt> inytfumrnt, I ender'% rights in the Pruperts and H. r•, wrr .
<br />oBirg-u..r, n.•
<br />$
<br />pay the auras wcurrd hti this Security lnvirurnem shall I(nunwe unchangrd t -pim r,•in,iAicr,,.rni
<br />W)fr:,wer his Net unit irlyirunient arid thr uhllgaflUny w%:ured hrjrj,s shall rt•tnam lull% OIVLTI�C AN
<br />it
<br />'ti urrrd i1 ,..•,er.-.lit•,fgh!to rrnrstate shall nut apply w!hr -.asr � -I', . •air.',, paragf rt {111s!i.. i ,
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