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85-- 0064'ZI
<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 Borrowers and Lenders written agreement or applicable law. Condor
<br />i. Impeetim Lender or its agent may make reasonable entries upon and inspections of the Property.
<br />shall give Borrower notice at the tithe of or prior to an inspection specifying reasonable cause for the inspection.
<br />9. Coatlp0101111tion, 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 Lander 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) .he 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 thiSSecurity 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 ofthe monthly payments referred to in paragraphs 1 and ? or change the amount of such payments.
<br />10. Borrower Not Released, Forbaraam By Leader Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sutras 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 Borrowers 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 Borrowers successors in interest. Any forbearance b, ender in exercising any right or remedy
<br />shall not be a waiver of or preclude the exercise of any tight or remedy.
<br />11. Saccesms mad Assigns Boattid: 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. Borrowers 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 Borrowers 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 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 Borrowers consent.
<br />12. Loa Charges. If the loan secured by this Securilv 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 sums : +]ready collected from Borrower which exceeded
<br />permitted limits wiU 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 Legislatlea Affecting Lender's Rights. If enactment nr expiration of 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 Security instrument and may invoke any remedies
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps 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 a 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 nonce to Lender .Am nonce to Lender shall be 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 form this Secunty Instrument shall be deemed to have been given to Borrower or Lender when given as provided
<br />in this paragraph.
<br />15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that anv provision or clause of this Security Instrument 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 he 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. BorroweesCoPy, Borrower shall hie given one conformed copy of the Note and of rho Security Instrument
<br />17. TMMfer of the Property or a Beneficial Interest in Borrower. If all or any part of the properiy or any
<br />interest in It it,, old or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />perscin l ] without enders prior written consent. Lender may. at its option, require immediate payment m full of all sums
<br />secured by this Security Instrument. However, this option shall nor he exercised by Lcndcr if esercisc is prohibited by
<br />federal law as of the date of this Secunty Instrument.
<br />If Lender exercises this opt ton, Lender shall grre Borrower notice of acceleration ")hc notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower miry pay all sums secured by
<br />Ibis Securtty Instrument. if Borrower fails to pay these sums prior to the expiration of this pericah, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice ur demand nn Borrower
<br />19. Borrower's Rilgbt to Reinstate. 1f Borrower meets cerani conditions, Borrower shalt have the right to have
<br />enforcement ()f thus Security Instrument din ontinued at any time prior to t)ie earlier of tai 5 days inr such other ix rrxl as
<br />applicable law may specify for reinstatement) before laic of the Proptrty pursuant r:, ain� power of sale corrta »u•d tti this
<br />Security Instrument, (it (h) entry of a judgment enforcing this Security lnstrunicm 1 hose condrruins are that Borrower
<br />(a) pays lender all sums which then would be due under ttus Stx-urity lasirunrm and the Note had nr, aceeleratn,n
<br />xcurred, (h) cur*. any default of any other cavenana or agreements (i! pays all extKnses incurred in cntorcing this
<br />Security instrument, inniuding, but not limned iii, rr..as;,nabie atl( .s' fors. and rdi takr .rash eciu.n As 1 ender may
<br />reasr?nably requirr. tri assure that the lien of this 'iccuri;y Instrumeni, I.cndcr's rikhis in the f +,i tis acid Be,ir wen's
<br />ihlitlatic>n to pa% the suns secured b% Ili". Security li;stn;rnent shall i,sitinnc un hanF,cd i i n r nsi.ctt :ms
<br />I3oxTumc.r. this S< airily ' Insttument And r.n,nn rutl eft t , .eia,ati i
<br />aurrtd N<,u e: r, tfns rigbir t„ riwistair shah nr,i apply n, tiie c atic ,4 �,u c is i,� +�,,n �md� _ ,a wti. ,i i., .
<br />NJ
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