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<br /> �7. Protectlon of L.onder's Rlghte lii the Pruperty. II Borrower lalls to peAorm Iho covenflnts and agreemenis containod in
<br /> thla Sucuriry Instrument.o� thero is a legal procneding ihat may slgni(icantly n(ier.l Lender's rlghts In iho PropeRy (such ns a procoeding In
<br /> bankruptcy, probato, for candomnntion or lorioituro or to enlorco laws or regulutlons), then Lender may do and pay for wf�atever is nocossnry
<br /> to protect tho valuo ol lhv Property And Lender's rights In the Property. Lender's actlons moy include paying any sums secured by n Iien
<br /> � which has priorily over ihls Socunty Instrument, appearing in couit, paying reasonable attomsy's lees and entering on Iho Propeity to mako
<br /> repalrs. Althouyh Londer may teke ectlon undor lhis poragraph 7, Lender does not hnve to do so.
<br /> � Any amounts disbuBed by Lender under Ihis parsgreph 7 shell Ltr��mo additlonal debt o1 Horrower securad by thls Sncur(ty Insirument.
<br /> Unless Borrower and Lendor agree ta other terms of payment, thono amounis shell bear Interest Irom tho dnta o1 disbursement at tha Notn
<br /> ` rute and shall be payablo, with Interest, upon notice trom Lendor to Borrower roquesting paymunt.
<br /> ,.����"�; 8. Mottgage Insurnnee. N Lender requlred mortgage Insurenco as a conditlon of makfnp thn Ionn secured hy this Security
<br /> �' � - Instrument. Borrowor shall pay the premlums requlrod to malntein iho morigago Insuranco In efloct. II. for any reason. ih� moripago insuranco
<br /> coverega requlred by Lender lapses or ceases to be In effocl, Borrower shall pay the premlums requlred lo obtaln covernqo oubstanlloliy
<br /> , �qulvalent to tho mortgag� Insurnnca provlously In ettoct. nt n cust substentially oqulvelont to Iho cost to Borro�ver ol tho moAqn�u Inmirnnco
<br /> prevlously in Qftecl, from nn niternate mortgaga Insuror epproved by Lendor II aubstantlnity equlvelont mortpaqo Ins�unnco coveraqo la nat -
<br /> a nvellnble, Borrowor sholl pay to Lender eaeh month a sur�i aquAl lo ono twr,llth ot Iho yondy morlflnUo innuranco promlum belnp pnld hy
<br /> � Borrowor when thn insuranco coveraflo Inpsed or ce�aed to ba 6i olfact. 4endor wlll nccept. uso and ►etaln ihrno pnymenla ns n lea� �•`^
<br /> ,.
<br /> rosorvo in Ileu ol morlfla�o Inauranco. Loas rosorvo paymenlo mny no lonper bo reyuired, at lha option ol Leridor, II moripn{�n Inaurnnca _
<br /> coverapo (In tho emounl and(or tho porlod that Londor requlra�) providnd by nn InPUrer npproved by l.cndar agaln liocom�3 nvellnblo nnd la -"
<br /> ��
<br /> obtnlned. f3orrowcr ahall pny the premlume raqutrad to mnlnleln murifl8�o ineuranr.e In oB�cl, or lo provldo � locs reaerva unlil tho -•
<br /> '- � raquirement for mortqsge Insurence ends In etcordence with Any�vrittwi AE�►eemenl botweon Qurrower and I.onder or applicablo law. —
<br /> ' � �. InR��otlan. lender or Its agent may mako reasona6la enttlos upon en� Inopocilona ol Ihe Proporry. Lander ohnll Iiva 8orrowar G
<br /> notico ut tha tim3 0} or prfor lo an Inspectlon�pecifying rr.ssonehte ceuse I�r the Inepectlon. ._._
<br />- � 10. Condsm��tlon� The proceeds o1 any eward ar clelm tor damagos, dtrnct or consequentlal, fn connectlon wlth any
<br /> condemnutlon or other teking o1 eny part oi iho Property, or lor convoyanco In Iiou o}condomnatlon, ero hereby asslgned and ahall bo paid —
<br /> - :. =:;, - to Lender.
<br /> In the event ot a totel taking of the Property, the proceeds shall bo applled to tho eums secured by thls Socudty Instrument,whether or —
<br />� not then due, wilh any excess pald to BoROwer. In tho event oi e partlal taking of the PropeRy in which the fair market value o} the Property
<br /> ' � Immedlntety betore the takfng is aquel to or greater than the amount ot the sums secured by thls Secudry Instrument imrnodlately bEtore lhe
<br /> - taking, unless Horrower and Lender othenvise a�ree In writing,the sums socured by thls Security InFtrument shell be reducad by the amount —
<br /> , „ �� of the proceedc multiplied by the following iraction: (e) the total emount tho ol sums socured Immedlatety before the taking, divided by (b)the y�
<br /> ' fair market value oi tHe Property Immediately beioro the t4king. Any balanco shall be pald to Borcower. In the evenl oi e partlal tAking o}the
<br /> - Property in whfch the iair market valuo of the RropeYry Immediately before the taking is less then the amount of the sums socured Immedintety
<br /> ' botoro the taking, unless Borrower and Lender othenvise egrete In writing or unless applicable law othenvise provides,the proceeds shall be
<br /> �+�+`,�S-�'.; ePPlled to the sums secured by this Security Instrument whether or not the sums are lnen due.
<br /> �t'�'��•:°��'� � If the Property Is abandoned by Bortower, or li, after notice by Lender to Borrower that the condemnor otters to mako an award or settle �
<br /> ,";i;,,:,�.:�••. '{.� a ctaim(or damages, Borrower fails 10 respond to 4ender wfthin 30 days after the date the noilc9 is given, Lender Is authorized to coliact and
<br />��`�� ''•�•�..t: epply the proceeds, at Its option, mither to restoration or repalr of the Property or to the sums secured by this Securily Instmment, whether
<br />_,,,��„ � , t .,
<br /> _ �•- � or nut then due.
<br /> --.'-:���•� Unless Lender and BArrower otherwise agree In writlnq, any application of proceeds to prindpal shali not extend or postpone the due
<br />�;�n�;�,i,�,�`,, date o1 the monthly payments referred to In paragraphs 1 and 2 or change tho emount of such payments.
<br />�y�'�•'�� 11. Borrower Not AelaaEed: Forbearance By Lendsr Not a Walver. Extenslon oi the iime tor payment or modlticauon
<br />���i:s-�r� � of emoRizatlon of the sums secured by thls Securiiy Instrument granted by Lender to any successor in interest of Bortower shall not operate
<br /> "—���'� � to releaso lhe Ilabi!'rt�j ai the original Bortower or�ottower's successors in Interest Lender shail not be reauirsd to commence proceedings
<br /> �`'"'�'��% a ainat an successor N Interest or refuse to e�,4end tlme tor a ment or othervvise modi emorttzetion of the sums secured b thls Securit
<br /> :.:,,�:,,�,m,•; 9 Y P Y N Y Y
<br /> -��.�. Instrument by reason ol any demnnd mnde by the odginal Borrower or Bortower's successors In 6nterast. Any fotbearance by Londer In
<br /> -- = exerclsing eny dght or remedy shail not be a walver of or preclude the exerclse o}any dght or remedy.
<br /> ���• 12. Successare and A�signa Boan�i; Joint and Several Llability; Co-�lgnars. Fhe covenants and agreements ot
<br /> --'"""""`�'''-��` . thls Security Instrument shall bind and benefit ihe successors and e:sslgns ot l.ender und Borrower, subjact to tha provislons of paragrup7�
<br /> ______._.1.;� 17. Oorrower's covenanis and agreements shall be Jolnt and several. Any Bortower who co-signa this Secudty Instrument but does not
<br /> execute the Note: (a) is co•signlnp this Secudty Instrumont only to mortgage,grant,and convey thal Bortower's Interest In tho Properly under
<br />''� the terms o}thls Secudry Instrument; (b) Is not personally obllgated to pay the sums secured by this Securiry Instrument; and(c)agrees that
<br /> �.� Lender and any other Borrower may agrea to extend, modity, torbear or make eny accommodatlons with regard to terms of thls Security --
<br />------_ Instrument or the Note wfthout thaY Borrower's consent.
<br /> °-- ==°-_ 13. Loan Cha�rgea. If the loan secured by this Security Instrument is subJect to a law wNch sets moximum ioan cherges, and that
<br /> �- - law Is finnlly interpreted so ihat the Interest or other loan charges collectnd or to be collected In connection with the loan exceed the --
<br />-<���� permitted Ilmits, then; (e)any such loan charges shali be reduced by tho amount necessary to reduco the charge to the permlttod Ilmit:nnd
<br /> --- _-;;;�.��., (b) eny sums already coll�cted lrom Bortower which exceeded peimttted Iimita wlll bo refunded to Borrower. Lender may chooso to make __
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<br /> _-""°'��::;:s>+� this rofund by reductng the pdnclpal owed under the Note or by mak6�g e dfrect payment to Bortower. If a refund reduces pdncipal,the -
<br /> ._��;a?..�; :� _
<br /> ___,°ve� �:��:�' reductlon wlll be treated as a partia!prctpeymeM without any prepayment chargo under the Note. �•_._
<br /> "��`-`'`}� 14. NOtICe9. Any notico to Bortower provided for In this Socuri Instrument shnll bo givm by delivering Il or by maliing ft by 11rst -
<br />���i�+Ttl�ii���. � —_
<br />�- ���'� � • ctaso mail unlesa epplicabte law requlres use of another method. The notico shell be dlrected to the Property Address or ony olher address =].•-�
<br />::.�i°�..;�.��,t1:1
<br />__f, ., l� Bonower designates by notice to Lender. Any notica to Lender shall be given by first ctass mall to Lender's address stuted hereln or uny ��.4:�
<br /> •<r�. ,
<br /> __'.:�.:,.•::.:: other nddress Lender dosignates by notica to Borrower. Any notice providod for In this Sacwity Insirument shall be deemed to have been =-
<br /> � �___
<br />-'-�:;``;< �: given to Bortower ar Lender when given as provlded in this paragraph. _
<br />�-�;����-'����: •• ib. CaOVefl�ittg Law; SeVe►abllity. Thls Secudty instrument shall be govemed by federal aw end tho iaw ot tho Judsdlction In ���-
<br />— .,�_L�r.,:ac. ..
<br /> . �- whlch the Property la located. In the event thet any provislon or clAUSe of thls Secunty Instrument or the Note conflicts vAth eppllcable law, a'�`
<br /> . ...� : _ suah conillct ahell not effect other provislons oi thls Security Instrument or the Note whlch cen bo given ettect without the contlicting �
<br /> , provlsion. To thls end tho provlslons of thls Secudty Instrument and the Note are declured to be srverable.
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<br />_' .� � -r-. iv. oor'row6��e a.opy. oorrower si�an ba givan ona coniormed copy oi ine ivoie end oi inis 5ecuriiy insirumeni.
<br />_ ...,,.w:;• 17. Transter o}the Property or a 9eneficial Intereat fn Borro�ver. If all or any part o1 the PropeRy or any interest in
<br /> • it Is sold or tronsierred(or If q beneficlal Interest In Borrower Is sold or transferred and Bortower 13 not a netural person) without Lender's
<br /> ' prior written consent. Lender may, at fts opllon, requlre immediato peyment In tull of all sums secured by this Security Instrument. Howover.
<br /> � ' thls option shull not bo exercised by Lender It exercise Is prohibited by federel law as of the date oi this Security Instrument.
<br /> � If Lender exerdses this option, Lender shall give Borcawer notice of acceleraiion.Tha notico shail provide e period ot not less than a0
<br /> - _ doys trom the date tha notice Is delivered or mailed within which the Borrower must pay all sums secured by this Security Instrument. N
<br /> '` � ' Borrowcr fulls to pay these sums prior to the explretion of thla period, Lender mny invoko any remedles permitted by this Socurity Instrument
<br /> • � . without iurther notice or demand on Bonower.
<br />�. . _. Fonn .111?tl 9/90
<br /> � � F4�x19-1M6(1u/pG) Paq��3 of 5
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