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<br />84- 002807
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<br />If Lender required mortgage insurance as a condition of making the loal1 secured by this Seeunty 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. direct or 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 Ihe 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. Borro\l,..'er 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 />~, the sums secured bv this Security Instrument, whether or not then due.
<br />Unless Lende~ and Borrow~r 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 :-lot 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; J oint 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 Iustrument only to mortgage, grant and convey
<br />that Borrower's mterest 10 the Property under the terms of this Security Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Secunty 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 NotewithquL
<br />that Borrower's consent,
<br />12, Loan Charges, If the loan secured by this Security Instrument is subject to a law which sets.maximumlo,an:
<br />charges, and that law is finally interpreted so that the interest or other loan charges collected or to becollec;ted:in
<br />connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by thellJl1C)unt
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrowerwhichexcecded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the "rinciJll!I'o1A';~
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction willbe treated'llsa
<br />partial prepayment without any prepayment charge under Ihe Note, . .
<br />13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has. the eft'ect of
<br />rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender,aLits.op~o~,
<br />may require immediate payment in full of all sums secured by this Security Instrument and may invoke,lUly.r~:c
<br />permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the secondparqnli!lf~
<br />paragraph 17, c .
<br />14. Notiees, Any notice to Borrower provided for in this Securily Instrument shall be given by deliveringit?rby
<br />mailing it by first class mail unless applicable law requires use of another method, The notice shall:be dil'el:ted:toCthe
<br />Property Address or any other address Borrower designales by notice to Lender, Any notice to Lend~'sha!l ,be'Bi~:b~
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Bonower,AnynotiCe":
<br />provided for in this Security Instrumenr shall be deemed to have been given to Borrower or'Lender whengiirenas'p~
<br />in this paragraph,
<br />IS, Governing Law; Severability. 1 his Security Instrument shall be governed by federal law and the law of the
<br />)unsdiction in which the Property is located, In the event that any provision or clause of this Security Instrumentor::tl!e
<br />Note conflicts with applicable law, such conflict shall not atfect other provisions of this Security Instrumentorthe.Nc:i1Al
<br />which can be gIVen effect wuhout the conllicling provision, To this end the provisions of this Security Instrument a.nd.:the,
<br />Note are declared to be severable,
<br />16, Borrower's COP)', 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 part of the Property or.any
<br />interest in illS sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natura)
<br />person) without Lender', pnor wrinen consent, Lender mal'. at its option, require immediate payment in full of all sums
<br />secured by this Securny Instrument. However, this option shall not be 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 Borrower notice of acceleration, The notice shall provide a periqd
<br />of not less than 30 day, from the date the notice IS delivered or mailed within which Borrower must pay all sums secured by
<br />thIS Secunt)' Ins!fument. If Borrower fails to pal' these sums prior to the expiration of this period, Lender may invoke any
<br />rernedles pennltted by thIS. Secunty Instrument without further notice or demand on Borrower.
<br />18, Borrower's Right to Reins~ate, If 80rrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontlOued at any time prior to the earlier of: (a) 5 days (or such other period as
<br />apphcabie law may specify for relOstatement) before sale of the Property pursuant to any power of sale contained in this
<br />Security [nslrument; or (b.) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(aJ pays Lender all sums wInch then would be due under thiS Security Instrument and the NOIe had no acceleration
<br />?Ccurre:d; (bl cure:::. an) default of an) other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Secunty In!',lrumt~tll. mdudmg, but not limfted to. reasonable attorneys' fees; and Cd) ta.kes such action as Lender may
<br />ren~onably require to a~.\ure th&t the hen of thl~ Security Instrument, Lcnder'3 nghts. In {he Pruperty and Borro\\'er's
<br />1.}bhgal1on to PU) the 'ium~ ...e...:urcd by [hu, Seeun:)- Instrument "hall continue unchanged, t;POf\ rClIlstalemcnt by
<br />Borro\\.er. lhh SCCUf!l) IH~trumcnt dUO Ihe- obhgatlon~ ~ecureJ herc:by ~haH remain fuil~ etlcl.'il\C :!:-.Ifnti ~H.-'cckrallon had
<br />,\.,-urrcJ l-h'\\C\CL tht~ !lghl tll rtlfl:.t~ltt: "halllh)l appl} ill {he- ,-,1'.;:: \Ii Jc..-I.'I:-kralh1fl ulld>:r j."uagr'~rh.. 1 '\ ,'I' i-
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