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<br />004406
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<br />If Lender required mortgage insurance as a condition of making the ioan secured by thisSecuritYJnSto-.nn~t:; ,
<br />Borrower shall pay the premiums required to maintain the insurance in effect until such timeastherequrrernentfor:the,'"
<br />insurance lerminates in accordance with Borrower's and Lender's written agreement orapplicablelaw, ",',ci",::"',';'
<br />8, Inspection, Lender or its agent may make reasonable entriesuponandinspectionsof~~,Poro~;~,<!e!,'
<br />shall give Borrower notice at the time of or prior to an inspection specifyingreasonablecause for theinspection",>"s, ',J','v"; ""
<br />9. Condemnation, The proceeds of any award or claim for damages. director consequentiali,i'1co~AA;f<r.ijth" "',
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu ofconderl1natfort}:are.:lIe\'~Y:"
<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, secufed:))y,Jhis
<br />Instrument, whether or not then due, with any excess paid to Borrower, In theeventof apartialllikmg'ofth~"
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument~halI
<br />the amount of the proceeds multiplied by the following fraclion: <a) the total amount ofthesums'securediinrl1~iat~y((
<br />before the taking, divided by (b) the fair market value of the Property immediately beforethe taking,AnybaIance shillI be '"
<br />paid to Borrower. , ",,', ,
<br />If the Property is abandoned by Borrower, or if, after notice by Lender 10 Borrower that thecondemnoroffeis'to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender wiIhin 30 days after thedatethenoliceis
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the I'ropert~!.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 10 principal shall notextendor"
<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 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 origi"'" Borrower or Borrower's successors in interest:
<br />Lender shall not be required to commence proceedings against any <u' 'e5sor in interest or refuse to extend time for
<br />payment or otherwise modify amortiZ3ticn afthe sums secured by -. ~ g.....' .;.f!ty Instrument by reaso!! of any de.'!1.JL~d made
<br />by the original Borrower or Borrower's successors in interest, Any ;"roearance 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 Bnd Several Liability; Co.signers. The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns 01 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 NOle: (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 wilh 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 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 be reduced by Ihe 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 will be treated as 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 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 />pcnnitted by paragraph 19. If Lender eKerc.1SeS this ~,ption, Lender shall take the steps specified in the second paragraph of
<br />paragraph 17.
<br />14. Notices. Any nOlice to Borrower provided for in Ihis 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 10 Borrower, Any notice
<br />provided for in this Security Instrument "hall be deemed to have been given to Borrower or Lender when given as provided
<br />in thiS paragraph.
<br />15, Governing Law; SeverabilitJ, 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, "uch conflict shall not affect other pro,'ision" of this Security Instrument or lhe Note
<br />which can be given effect without t.he conflicting prOVision. To this end the provisions of this Security instrument and the
<br />Note are declared to be severable.
<br />16. Borro"".erts Copy. Borrower shall be given one ~onformed copy of the Note and of this Security Instrument.
<br />17, Transfer or the Property or a Beneficial Interest in Borro"er, If all or any part of the Property or any
<br />lnterest in it i~ sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />pen-lion) without Lender's prior written consent. Lender may. at Us option. require Immediate payment in full of all sums
<br />secured by this Security Instrument. However, this option shall not be ex.ercised 0)" Lender if exercise is prohibited by
<br />federallav, as of the date of this Securit\' Instrument.
<br />If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall prOVide a period
<br />;)fnot less than 30 days from the date the notice is delivered or mailed within which Borrow~r must pay all sums secured b)
<br />this Security Instrument. If Borrower fails to pay these sums prior to the eXpiratllln of tillS penod. Lt.~nder ma)o invoke an)
<br />remedies pe.rnutteC by thit; ~-cur;t)' !ns.trumem without further notice or demand on B()rr()\.\"t~r
<br />18. Borro"'erts Right to Reinstate. If Borrower meets certain condnions. Borrowe: shall have the nght to have
<br />enforce-ment of thls Security Instrument discontinued at any time prior to the earher of (a) 5 days ,or such other period a~
<br />apphcable Jaw may specify for rein&tatement) before ~ale of the Propt.~rty pursuant to any po\\er of sale \.'ontalflcd in thi~
<br />Security instrument~ or (b) entry of a Judgment enfon:mg thiS Seeunty In~trumcnL Those ClH\dltions ~tH' that Borrower.
<br />(8) pays Lender all sums which then would be due under thi", Security Instrument and the Note- had rW ac~deration
<br />occurred; (h) curc::s any default of any other l.'tWenal1t~ or agreemcnt~: (cJ pay~ all expcnse~ 1Ill..'urred In cnlDf(:ing thiS
<br />Security In-!\lfumcm. including. but not lImited to, reas.onable allorncys.' fees: and (d) tak6 ~u(:h Ii\:lwfl a... Lenut.'f' ma~
<br />rc.asonabJ~ require to ~Ssur( that the lien of Ihi~ Sel..'untylnstrumetH, Lcndc(~ ng.hb III the Pr()pc::rt~ :lno UninJ\~l'l '.,
<br />obligation to pay rhe s.um~ .5('l.,'un:tl by thiS Sel.:unty Instrument shaH ':':OIHIl1Ul' m\(h~np~d, l:P'JH l"t';'hiatclllcllt h~
<br />Borrown, thi~ $eClHH,} In"trumctH and the ohhg.atwn\ s.c;.-ured hereby s.huIl f\"lHalH full~ dr(',..<11\1~ ,-h If lj{~ ..,L",...eh:lallf\!l b.ld
<br />(~<...urrtd 1f\1-\\t'\'Cl'. tlll',- fight to n:lHqate- ",halllL.H app!) HI. Iht' ;.:a~,l.' A ~h.'\:ck;.H~t'\1 und~'f r'.H~~g!.\Ch" ! \ ,'J 1 ,"'
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