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85- 006311
<br />1 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 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 le 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 t he 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 pro%istons
<br />of paragraph 17. Borrow•er'% 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. (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 subject to it litw which sets maximum foan
<br />charges, and that law is finally interpreted so that the interest or other lean charge% collected or Ili be collected in
<br />connection with the loan exceed the permitted limits. then: (a) any such loan charge shall be reduced by the anu,unt
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already coilec•ted from Borrower which exceeded
<br />permitted limits will be refunded to Borrower. lender may choose to make this refund by reducing the principal owed A
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a 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 cffect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms. Lender. it its option.
<br />may require immediate payment in full of all sums secured by this Security instrument and may smoke 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 tit this Security instrument shall tic given by delivering it or by
<br />mailing it by first class mail 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 nonce to Lender shall br 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 in this Security Instrument shall he deemed to have been given to Borrower or Lender w lien given as pros ided
<br />in this paragraph.
<br />15. Governing Law; Severability. fh►s Security Instrument shall he governed by federal law and ncc lave of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of tits Sccurtty Instrument or the
<br />Nolte conflicts with applicable law. such conflict shall not affect other pro%mons of this Security Instrument or the Note
<br />which can be given effect without the conflicting provision. Io (his end the provt%wns of this Sccurtty instrument and the
<br />Note are declared to be Severable.
<br />16. Borrower's Copy. Borrower shall be given one confirmed col) of the Note and of this Security Instrument
<br />17. Transfer of the Property or a Beneficial Interest in Burrower. if all or any part of the Property or any
<br />interest in it is Sold or transferred (or if a beneficial interest m Borrower IN sold or ;ecnisferred and Borrowcr IS not it natural
<br />person) without Lender's prior written consent, Lender troy, at its option, require untnedsoc payment lit full of all sunis
<br />secured by this Security Instrument. Ilowever, this option shall not be c.velcl%cd by i.erider if e tercl.e n prolubtled by
<br />federal law asofthedatcofthisSecurity Instrument.
<br />If Lender exercises this option, Lender shall give Borrower aril ice of accelcrannn T he not shall pr, v idc a period
<br />of not Irws than 30 days from the date the not is delivered or mauled withnt which Mir r„v%er must pay all sums secured by
<br />ibis Security Instrument. If Borrower fails to pay these sums prior to the expiration ill* Ilits period, Lender may Invoke .tit%
<br />remedies permitted by this Security Instrument without furl tier notice or dcinand on Bormwci.
<br />18. Borrower's Righl In Reinstate, If Borrower meets certain conditions, Borrower Shall have the eight to hinc
<br />enforcement of this Security Instrument discontinued al any time prior it, the carper of (a) S drys (or such other period as
<br />L applicable law may specify flit reinstalernenr) before sale the Irroperty pursuant to any power of sale .ont,oned m tins
<br />Sccurtty losirtttncnt, or (h) entry of it )udgmenl enfittcntg thus 5ccuruy Insinimrnl 1 hose conditions :oc that Iloitowet
<br />(a) pay% lender all cunt% which then would he due under tills Security instrumcm and the Note had 111, ac,elcr ill it'll
<br />IKCUrfcd, (h) cures :Inv default of any other covenants or agreements, to pays '111 evpcnu•S I,icurrcd In entircuii 1111.
<br />security Instrument, mcfudnig, hilt not hnuted h" reasonnhlc 'Iltoti" rys' fees, and 1,11 takes such .tenon Is 1 rioter 111,1% V
<br />rcasolli require f„ ,issuer that the hen .,f Ihis Yccnrn} Insnunirnt, t rnder's nHhh m the I'rnpern ,uu1 Hnn,uvrt's
<br />,bligah,in I„ pay Ilii• sunis sc•cuted by this s;crunt, 111s11unienl 01,111 rrnLinuc un,h•n,vc,l 1'1,,,11 icnisiairnnnl ',v
<br />Bmrowcr. tills s ,.unl, Instnrvncrit Aml 11c i L1 t :. :'11Ml. , tit ",I hrn•ht ,li.ill i,rnanr lull, e11r, u.r.i0 it rn ALI"1ci,th„n hAd
<br />,, ,..trr,•d I {,.i,,..,,.r !It I, nl:ht i" r,�vitir.tir 01.111 rn', "'h, .l" 4 i� 111,,•, un,iri 1 "1
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