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<br /> �iiail �,ay the pr�miums re��uired to obta+n coverage s��h�tantially equivalent to the mortga�e insurance previously in
<br /> effect.at a cost substantially equivalent to the cost to Dorrower of the mortgage insurance previously in ettect, from
<br /> an alternate mangage insurer approved by Lender. If substantially equiWalent mortsage insurance coverage is not
<br /> available, Barrower shall pay to Lender each mond� a sum equal to one-twelfth of the yeatly mortgage insurant;e -
<br /> " preniium bcing paid by Bonov�cr when the insurance c�vera�e lap�ed or ceased to be in effect. Lender will accept,
<br /> use and retain these payments as a loss reserve in lieu of morigage insurance. Loss teserve payments may no longer
<br /> :�r,,�,- be reyui►•ed,at the opcion of Lender, If mortgage insurance coverage(in the amount and for the perlod that Lender `
<br /> ,. .« requires)provided by au insurer approved by Lender agaln becomes available and is obtained. Borrower shall pay �,,,
<br /> . d�e premiums required to maintain mortgage insurance in effect, or to provide a loss reserve. until the requirement ,_-
<br /> ' ' for mortgage insurance ends in accordance wid�any written agreement between Borrowes and Lender or appliCabte
<br /> law. ' �`-'-
<br /> 9. Inepectton. I.Qnder or its agent may make reasonable enuies upon�and inspecuons of the Property. :''�t:��:�:--._
<br /> L.ender shall give Bonower notice at the dme of or prior to an inspecdon specifying reasonable cause for the '��;-��
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<br /> inspecdon. • ':;;;i
<br /> � 10. CondPm�atlon. The proceeds of any awazd ot claim for daraages,direct or consequential, in connecdon s..=------
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<br /> � with any condemnation or other taking of any part of the Property, or for conveyan.e in Ueu of condemnadon, are ..„��:
<br /> � hereby asaigned and shall be paid to Lender. Lender may apply,use or release the condemnatlon proceeds �n the ". 'r:�
<br /> �'� same manner as provided in paragraph 5 hereof with respect to insurance proceeds. If the Property is abandoned by •,�8•�v--
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<br /> Horrower, or if, after aotice by Lender to Bonower that the condemnor offers to anake au award or settle a claim _�_._
<br /> � for daniages, Borrower fails to respond to Lender wit�in 30 days after tlne date the notice is given, Lender is ----
<br /> `.;:; -•� � authorized to collect and apply t�ne proceeds. at its option, either to restoratian or repair of the Property or to the f���.�.
<br /> � " �swns secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree "<�1•.1��:�:-
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<br /> in wriring.any appllr,�don of proceeds to principa!shall not extend or postpone the due date of th�rnoatbly paymcnts ��� 1��°`
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<br /> , ;: refened to in paragraphs 1 and 2 or change the amount of such payments. �`=��""'�".".
<br /> - �°�r 11. Borrower Not Released; Forbea�rance By Lender Not a Walver. Eatension of the dme for payment "
<br /> � � "" or r.:w+ifi=�on Qf 2mnni�ati�n of the sum.4 gecured bV this Securiry Inatrument granted by Lender to any successor , —
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<br /> In intereat of Borrower shall not operate to release the liabllity of the origlnal Fionower or Borro�ver's successara in �y`�_,
<br /> � interest. Lender ahall not be required to comznence proceedings against any successor In interest or refuse to extead = ••
<br /> - time for payment or otherwise modify amortization of tt�e sums secured by this Securiry Instnunent by reason of any
<br /> s� � demand made by the origInal Borrower or Borrower's succe5sors in interest. Any forbearance by Lender in
<br />�•': .;,>, • � exerclsing any right or temedy shall not be a waiver of or preclude the exercise of any right or remedy. - °•-
<br />==�r���.:! �. � 12. Succeosore and Assigns Bound; Jotnt ond Several Linbility; Co-signers. The covenants and --
<br /> - � . ,"' agreements of this Security Inswment shall bind and benefit the successors and asslgns of Lender and Hortower.
<br />� �� �• subject to the provlsions of paragraph 17. Borrower's covenants and agreement�shall be joint and several. Any
<br /> -};���..• � •��� Borrower who co-sigas tl�is Security Instrument but dces not exeaute the Note: (a) is co-slgning tbis Security
<br /> �"--'° � Insrivment only to mortgage� gcant and convey that Botcower's interest ia tPie Property under the terms of this
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<br /> -- , ,. Securlry Iastrument; (b) is not personally obligated to pay the sums secured by this Security instrument; and(c)
<br />�==��.-'-R; agrees that Lender and any other Bonower may agree to ex�end,modify,forbear or make any accommodations with
<br /> �-��°������:''a regazd to the terms of this S�curity Instrument or the Note wlthout that Bonower's conseat.
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<br /> —s,u�:l?' ` �• 13. Loan CI�Arges. If the loan secured by this Security Instrument is subJect to a law whfich sots maximum _
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<br /> _-__ loan charges, Rnci that law is finally interpreted so that the interest or other loan charges collected or to be collected _
<br />-� . in connectian wa�h the loan eaceed the perrnitted limits, then:(a)any such loan charge shall be reduced by the amount
<br /> �`'_�.;:::�:.: nece5sary 4o reduce the charge to the permitted limit; and @) any sums already coAected from Borrower which —
<br /> -�=`:�:`�" ; eacs�ed permitted limits wDl be refunded to Bonower, Lender may choose to make th[s refund by reducing the _
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<br /> y,,�,��;�,,-- } principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the -
<br /> _ _ .�.�'��-� �• reducdon will be treated as a partial prepayment without any prepayment charge under the Note. "_
<br /> „ ' � 14. Not�oes. An y�nottce to Bonower provided for in this Security Instcument shall be given by delivering
<br /> It or by mailing it by first class msil unless applicable law reyuires use of anodier method. The notice shall be •"�---=
<br /> . ',: �' � directed to the Properry Address or any other address Borrower ciesignates by notice to Lender. Any�sotice to Lender :;:�:�=
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<br /> � �; �� shaHl be given by first class ma�� to Lender's address stated hereln or any other address Lender designates by nodc� .j;;,...
<br /> �' to Borrower. A�ny nodce provided for i�a this Securi Iastrumenc s�hall be deemed to have a�en ven to Bonower ` "-"�'�_
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<br /> j ° or Lender wher�gaven as provided in this paragraph 14. t ���"'--`--
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<br /> - f : 15. Governin I.aw;Severablli This Secwi Instrument shall be ovemed b federal law and the law - ���;'�''X/"''
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<br /> ' � j of the jurisdicrion in which the Property is located. In the event that any �rovision or clause of this 5ecurity �•,'�``:.�
<br /> � ��" � Instrument or the Note conflicts with appli�able law, such co�nflict shall not affect other provisions of this Security , �u ��5.�;'
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<br /> '•� __ ,-_I t„�n,,,„P„r�,��hP tvnre which can he rive�n effect without the conflicGng provision. To this er.d ttze provisions of this
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<br /> � Security Instcument and the Note are declared to be severable. � , .
<br /> � l6. Borrow�er's Copy. Bonower shall be give�one conformed copy of the Note and of this Security •
<br /> — � Iastivment.
<br /> �� 17. Transicr o[the Piroperty or a Ben�ftctal Interest in Borrower. if all or any pan of the Property or �'
<br /> � � any interest in it is sold or uansferred(or if a beneficial inYerest in Borrow�r is sold or transferred and Horrower is ;
<br /> ' not a natural person)without Lender's prior written�onsent,L.ender may, at its option. require immediate payment •
<br /> '� �g�A Page 4 of B NCQM0820 (Rev.10/22l96)
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