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85-- 006217
<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 />S. 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, direct or 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 is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Propert y 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 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 convey
<br />that Borrower's interest in the Property under the terms 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 anv 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 Secunty 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 he reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any ums already collected from Borrower which exceeded
<br />permuted 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 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 enactment or expiration (if applicable laws has the effect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender, at its option,
<br />may require immediate payment in full of all sums secured by this Secul-11% instrument and may Invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option. Lcnder shall take the steps specified in the second paragraph of
<br />paragraph f7.
<br />14. Notices. Any notice to Borrower provided for In this Secunty Instrument shall he given by delivering 11 or by
<br />mailing it by first class mad unless applicable law requires use of another method the notice shall he directed ru the
<br />Property Address or any other address Borrower designate% by notice ua Lender. Am notice to Lender shall he given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by nonce u, Borrower. Any Hotter
<br />provided for to this Security instrument shall be deemed to have been given to Borrower or Lender when given its provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security instrument shall he governed by federal law at,d the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrimtent or the
<br />Note conflicts with applicable law, such conflict shall not 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 declared to be severable.
<br />16. Borrowees Copy. Burrower shall be given one conformed copy of the Noic and of this Securit y Instt ument
<br />17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in 13orro%cr a sold or transferred and Ilorrower is a natural
<br />)►
<br />perm) without Lender's prior written consent, Lender Wray, at its option, require Immediate pay n
<br />ment m full (if all stints
<br />secured by this Security instrument. However, this option shall not he exercised by Lender If exercise is prohibited by
<br />federal law as of the date of this Security Instrument.
<br />if Lender exercises this option, Lender shall give Ilorrower notice of acceleration. 'I'he notice .hall provide a penoei
<br />of nor less than 30 days from the date the notice is delivered or mailed within which Norrowcr must pay all sums secured by
<br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this penrtii• Lender niay invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on liormwer
<br />18, Borrower's Right to Reinstate. If Borrower meets certain conditions. 130rrowet shall have the right to have
<br />L_ enforcement of this Security Instrument discontinued at any erne prior to the earlier of (a) S days (or such oilier tK`tltxl .1s
<br />Applicable law may specify for reinstatement) before sale of the Property pursuant to any !lower of sale runtalned m 1111.
<br />Securely hlstrumenl, or (b) Curry of a judgment enforcing this Security Ilnstnnnacnt I II'Mc conditions are that iiorrowct
<br />(al pays Lender all sums which then would he due under this Security lnstrunll:111 and the NOW had 11 I acrelerahon
<br />recurred, (111 cures any default of any other Mvetiants or agreements• te) pays all c,;pCnu•s nrcurmd Ill entorrnig Ihls
<br />security illstruulent, itidudmg. hilt riot hooted to, reasonable attorneys' fees, and (d) takes slink action as Lcnder May O
<br />reas/inably require iii assure that the hen of this Security instnitnetii. Lender's np.hls In the Proved% and
<br />rhhgau,nl I�, pay the +urns wtured by this security Instrurent halt :,alunur 0101, +1kr11 i j—" „•Imt It lnrnt b.
<br />H.,rrnwel, Ihn Ne,.0 III y I fill III-ell I ;Ind the "NI Kill wlls sv,uIr,I herchv .hail rrrn tin 111111 cNe.tnc eIll no ill 1003Uam had
<br />tirnnerl If-u• Ibis right lit nuislal, shall nul'11,16 m wid, I I +.II,y r,11,h. ) r ,v 1'
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