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<br />84 -- 001173
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<br />If Lender required mortgage insurance as a condilion 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 terminales in accordance with Borrower's and Lender's written agreement cr applicable law,
<br />8, Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property, Lender
<br />shall give Borrower nOlice at the time of or prior to an iP5pection 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 conveyanee in lieu of condemnation; are hereby
<br />assigned and shall be paid to Lender,
<br />In Ihe event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security
<br />Instnunent. whe!he-r or not then due. with an\' excess nairl to Bu"'li"G"'wCi'. In the evEnt fif it parLiat- iMcing of the PTope,!'!Y:~:'-
<br />unless Borrower and Lender otherwise agree i~ writing, the sums secured by this Security I~strument shall be reduced by
<br />the amount of Ihe proceeds multiplied by the following fraction: (a) the total amount of the sums securedi/llmediately
<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 10 respond to Lender wilhin 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at ils option, either to restoration or repair of the Property or
<br />10 the sums secured by this Security Instrument, whether or not then due,
<br />Vnles., Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br />postpone the due date (If the monthly paymen!5 referred t~ i!l p~rgg~nh$ 1 3..'1-d 2 c: chAnge the amOiifit _of-such paYmCliu~
<br />10, Borrower Not Released; Forbearance By Lender N!lt :, ;'\ :uver. Extension of the time foi'paymentor
<br />modification of amortization of the sums secu:ed by thi~ Se-!~". i< !nstrur:mt grmh.dl hy l.:mdorr to any slkt1~~j~
<br />interest of Borrower shall not operate ,0 relea,,,,, '.h.c ',ability 0' " ~ original Horrower or Borrower'ssuccessorsiP inter;:stc
<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 ofa.,y deman<i made
<br />by the original Borrower or Borrower's successors in interest. Any f"rbearance by Lender in exercising any rightotremedY
<br />shall not be a waiver of or preclude the exercise of any right or remedy,
<br />11, Suecessors and Assigns Bound; Joint and Sevel'lli Liability; Co-signers, The covenants and agreements of
<br />Ihis 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 agreemenls shall bejoinl 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, granl and convey
<br />Ihat Borrower's interest in the Propeny 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 that Lender lIno any other Borrower may as"", to extCllo,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrumenl or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is subjeclto a law whicb sets maxi/llum 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 permitt~ limits, then: (a) any such loan charge sball beredueed by tbe amount
<br />necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower whichexeeeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reduciPg the principal owed
<br />under the Note or by making a direct payment 10 Borrower, If a refund reduces principal, the room:t!on will he treu.tro as a
<br />partia~ pfepaYlnenl wlthout any prc:paym~nt charge under the Note.
<br />13, Legislation Meeting Lender's Rights. If enactment or expiration of applicable laws has the effect of
<br />rendering any provision oflhe NOle or thIS Securily Inslrument unenforceable according 10 its terms, Lender, at its option,
<br />may require immediate paymem in full of all sums secured by this Security Instrumenl and may invoke any remedies
<br />permitled by paragraph 19, If Lender exercises thIS option, Lender shall take the steps specified in the second paragraph of
<br />paragrapb 17
<br />14. Notices. Any notice to Borrower provided for in Ihis Security Instrument shall be given by delivering it or by
<br />mailing il by first class mail unless applicable law requIres use of tmother method. The notice shall be direcled to the
<br />Property Address or any 01her addre<..s Borrower designates by notice to Lender, Any notice to Lender shall be given by
<br />first class mail to Lender's addres., slaled herein or any other address Lender designates by nOlice 10 Borrower, Any notice
<br />provided for in this Security Instrument shaH be deemed to have been given to Borrower or Lender wben given as provided
<br />in this paragraph,
<br />15, Governing Law; SeverabiUty, This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which th~ Property is l0Cated. !n the ~ven~ that :lIlY pro~.:ision Of c-lau5~ of thi'5 SC\;ufiiy instrument or the
<br />Note conflicts with applic.able law, such conllict shaH nol affect other provisions of this Security Instrument or Ihe Note
<br />which can be given effect without Ihe conflicting provision. To this end Ihe provisions of this Security InSlrument and the
<br />Nnte gre d~U!red to be sc\-'cIfible.
<br />16. Borro,"r'$ COP)', Borrower shaH be given one conformed copy of the Note and of this Security Instrument.
<br />17. TfiijjSfer of the Property Of a 8eneficiallnterest in Borrower. If all or any part of the Property or any
<br />mtere;;tltl,t is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nOI a natural
<br />person) Without Lender's prior wnlten consent. Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Security Instrumenc However, this option shall not be exercised by Lender if exercise is prohi,bited by
<br />federal law as of the date of this Security lnstrumenl.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration, The notice shall provide a period
<br />of 001 jess Ihan 30 days from the date the nOlice is delivered or mailed within which Borrower must pay all sums secured by
<br />this Security Instrument. If Borrower faiis 10 pay these sums pnor lG the expiration of this period, Lender may invoke any
<br />remedies permitted by Ihis Secunly Instrument without further notice or demand on Borrower.
<br />i8~ Borrowerjs Right to Reinstate. If Borrower meets cerialn conditions.. Borrower shaH have the right to have
<br />enfurcemel\t of thl>' Security Instrumelll di",'Onllnued at any lime prior to the earlier of: (a) 5 days (or such other period as
<br />applicable law may specify for reinstatement) before sale of the Property pursuant to allY powe. of sale cnntained in thi,
<br />Seeunt)' In.truffil:rlt; or (h) entry of a Judgment enforcing thi, Security InstrumenL Those conditIOn, are that Borrower:
<br />tll) paysL~ all sums whl\:h then would be due under thi, Security Instrument and the Note had no acceleration
<br />oe.curred; (b) cU.res any default of any olher covenant. or agreements; (c) pay. aU expenses Hlcurred in cnforemg this
<br />SecufllY IlWnnm:nt, mcludmg, but not hmllC'd to, reasonable atlorneys' fees; and (d) tak"" such ;tellon a, Lender mllY
<br />r~ly l'eql>tl'e U. aMure Ihat tlw lien of thIS Security InslfUm<:nt, Lender', righi' in the I'roperty and Born)"er',
<br />,~uoo III Pl'y lI,e WIDS secured by Ihis Security Instrument ,hall contmue unchanged t'p<Hl ,,'instatemenl by
<br />&rTOwer,lti,. Secur,ty In\lru'"""t and the obllgatlons ,e('ured herebv shan r"'flam fullv effective as If no ac('derat"", had
<br />{N,;:{urroo.- l-tO\ili-t;',;C;[. thi~ naht In tmtl$t.l}tr,- ~ru..ll t'it'd ;U1:fUV ~n fh... .l~~GU- .-i :;11'.~~.,.I....r-...tun' 'l."-A",,,~' h_'~r-'.~"n...h,,-_ 1 ~ 'H' 1"
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