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<br />84 -003657
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<br />If Lender required mortgage insurance as a condition of making the loan secured by this Securily Inslrument,
<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. Lenderor 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, al 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 I 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 ihe sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operale 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 suO' ,",sor in interest or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this SeclO, .;y Instrument by reason of ,my demand made
<br />by the original Borrower or Borrower's successors in interest. . .ill' forbearance by Lender in exercising an~' right orremedy
<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 'cHefil the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17, Borrower's covenants and agreements sha!!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 Securily Instrument; (b) is not personally obligated to pay
<br />the sums secured by this Security Instrument; and (c) agrees Ihat 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 toa law which sets maximum loan
<br />charges, and that law is finally interpreted so that the inlerest 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 be reduced by the amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />permitted 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 willbetreated asa
<br />partial prepayment without any prepayment charge under the Note.
<br />13, Legislation Affecting Lender's Rights, If enactmenl or expiration of applicable laws has ,the effect. of
<br />rendering any provision of the Note orthis Securily Instrument unenforceable according to its terms, Lendef' atitsoption,
<br />may require immediate paymenl in full of all sums secured by this Security Instrumenl and may invoke any rCl1ledies
<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 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 notice 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 for in this Security Insirument 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. any 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 be given effect without the conflicting provision, To this end the provisions of this Security Instrument andthe
<br />Note are dech.red to be severable.
<br />16. Borrower's Copy. 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 it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nol a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate paymenl in full of all sums
<br />secured by this Security Instrument. However, this option shall nol be exercised by Lender if exercise is prohibited by
<br />federal law as of the date of this Security Instrument,
<br />!fLender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br />this.5ecurity Instrument, If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br />remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />18, Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior 10 the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstalement) before sale of the Property pursuant to any power of sale contained in this
<br />Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:
<br />(a) pays Lender all sums which then would be due under thL. Security Instrument and. the Note had no acceleration
<br />'occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this
<br />Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may
<br />reasonably require to assure .that the lien of this Security Instrument, Lender's rights in the Property andfl<>rw,wer's
<br />Obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinS{i.'cnient by
<br />Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as .fno acceleration had
<br />occurred. However. this right to reinstate shaH not apply in.the ca\e of acceleratiori under paragraphs! 3 or 17.
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