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85- 0057V.
<br />rIf 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 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 it, the sums secured by this Security
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of it 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 halance 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 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 to 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 Ili 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 agreement-, of
<br />this Security Instrument shall hind and benefit the successors and assigns of Lender and Borrower, subject 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 only it, mortgage, grant and convey
<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 />j, modify, forbear or make any acc'onunodations with regard to the terms of Iles Secunty instrument or the tiote withutu
<br />4 that Borrower's consent.
<br />12. I,oan Charges. If the loan secured by this Security Instrument I, subject to a I:1v which sets rnaxlrnunl loan
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or Ill be collected in
<br />connection with file loan exceed the permitted hmits, then: (a) :any such loan charge shall he reduced by the amour!
<br />necessary to reduce the charge lu the permitted limit: and (b) any sums already collected front Borrower \\ Inch exceeded
<br />permitted limits will he 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 refund 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 enactinent or exp+rallon of applicahle taws has the effect of
<br />rendering any provision of the Note or tilts Security Instrument unenfinceahle according to Its Terms. Lender, in its option.
<br />may require immediate payment ill full of all sums secured by thls Secunty instrument and may Invoke any remedles
<br />permitted by paragraph 19. If Lender exercises this opttun. Lender shall take the steps spenfitd ill the second paragraph A
<br />paragraph 17.
<br />14. Notices. Any nonce u, Borrower provided for In thls Security Instrument shall he 91-11 by dch\crll I nr h\
<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 in nonce to Lender. Any nonce to Lender shall he green by
<br />first class trtatl hr Lender's address,( urd herein or any other address Lender designateS by notice Io Burrower Any notice
<br />provided form this Security Instrument shall be deemed to have hcen glen to Borrower or Lender is licit glen as p+ovtded
<br />it, ibis paragraph.
<br />15. Governing Law; fieverabfiity, 7'h IS Secunty instrument shall he governed b) leder.+l 1:1\ Mill the I:o\ ,'f the
<br />jurudtctlon ul which the Property is located. In the went that any pruvuual of clan,- of Ihls Security instn:nxnt or the
<br />Note conflicts with applicable law, such conflict shall not ;dfecl other provtslous A tins Sccurny Instrument or the \olc
<br />which can be given effect wnhoul tilt conflicting provision. Lo tilts end the provisions of tilts Sccurlly Inslrtaulent and the
<br />Note :ere declared lobe sc\ etablc
<br />16. Borrower's Copy. Borrowef shall be glen one conh,rnled copy of the 'Note and of this Seeuru) Insnunte•ni
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If Al or any pan of the Property or any
<br />utletest tit it is sold or transferred (or 11'a txncficlal Interest nl Borrowcr Is sold or transferred and Borrower Is nut it natural
<br />per'san) without Lcnder's prior hillicti consent, lender ns+y, al lts option, rcqulrc a 1111V fl,ltc p.lyn+cnl ur full of .ill ,urtus
<br />,(cured by this Secunty Instrument. However. this opttun shall not he exelcl,cd h) I cadet It ewl,lsc Is pI„hihucd by
<br />federal law as (if tilt date of Ihns Security lnstruntent.
<br />If Lender exercises this option. lender shall give Borrower nolwc of acc-lcra non 1 lie nonce shall 111"' Id'. a pel wd
<br />"f no; less than 30 days from the date the notice 1s delivered or mailed w 1l I'm w Itch B011 l'1 IIr1NI pa\ ;III soars ,eeut cd h\
<br />tlls Security lusirumcin If Burrower falls to pity these sunl, prior In the expiration oil tills p -noal. I endcl nr.+) nlokc :nr)
<br />remedles permitted by (fits Security I list t'urnent without further notice ur demand on Bof rowel
<br />18. 1{ttrrower'% Right to Reinstate. if Borrowcr meets certain conditions, Bolf1mcf sh.Ill h;1c Ow right w h11e
<br />ellftrcellient (rf tills Seemntx Insirurnent discunl)nuCd al any um- prix In the c :uhrl of 1. +) s daps for suv h .,1 ]let prnnd a,
<br />applicable law (nay s{x'crts I- +r reinslalclnenO befixe side , I the Property Ialrsuant I., .111 puwcl of sale „auauu,I nI tills
<br />ia;cuntp In"MilucnL of (h) "1111) utl .t )u,lgtnenl cnforcnr9 !ills `+ccul ll % In,lunna IU 1 h c — 11dilton, ell Ih,+t florrowcl
<br />tai pays I ender all ,urns which then would h(• due Infidel this `csulll) 1nstlunrenl .unl Oil: 'Note Il,nd n, .nvrler ,tion
<br />m enli,IUnM III
<br />"-curled, (f+) airy 'Iclafdt d any ollicr :o%clialll• oI Iv I pals, in.ulled
<br />Scu;nly lworunr -nl, nlbhu11tiv. hill no( lunitcd lo. fcasurland� annnx•ys' h•rs •mti !ell Iakr•• ,uvh .r,u�ai .n I ender m.n
<br />r- `+snr:at,ly require I,, assure Thal Ihv: licit nl Ihls SCUinly 111,Irumrnl. 1 rrr,lc'I's 11011, .1) Ihr th q,c11% ,Ind Hoil ,vier
<br />t , lwa the ,urns ,vcmLA by ill's Seiulrls 1nsNn'nn•nl ,hall :�ITIIIM c iur.hen,'crl
<br />ES,uI•wel �I =„ tic. unit lu ^.0 Wren! and Iha•.hllg.atnnl,c,.un•,I hrlri v •h.li �.ni.,ui billy !L ,c a, i' n:.i,,, (,,.rnvi h.ol
<br />u; ra•aI if .,v<•., r !111' light h n•ur,lule,Irnll not apply lu lhr •.r. .,t it, —,!,l
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