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lf Lender reyuired m~~re~;a~;e insurance as a cunditiun ~~f makin}; the luan secured h~~ ehis Security In-
strument, I~ur~ower shall pay the premiums required tu maintuin the insurance in e(fect until surh eime as a reyuirement fur ;
ehe insurance cerminates in arcordance with f~orrower's and I.ender's wrieten a~reemene or applicable faw. ;
S. Inspection. I.ender or its agent may make reasunable entries upun and inspections uf che Prupercy. Lernler shall ~
gi~~e I~orrower notice at the time uf ur prior an inspecti~m specifying reasonable cause for the inspection. ,
9. Condemnation. The pruceeds uf any awarJ ur claim fur dama~es, direct ur cunseyucntial, in cunnectiun wieh unp ~
cundemnati~m or o~her taking of an~~ parc uf che Propercy, ur for com~yance in lieu of cundemnaci~m, are hereby assig~ed and
shall lx paid to l.ender. ~j
In the ~event uf a total takin~; of the Pruperty, the pnxeeds shall be applied to the sums secured by chis Securi~y ~
Inscrument, whether or noc then due, with any cxccss paid co 13urruwer. ln the evenc of a partial taking uf the Yropcrty, u~less ~
l~urruwer and l.ender otherwise ag~ee in wricing, the sums secured by this Security Instrument shali txr redured by the amuunt ~
of the proceeds multiplied by the Folluwing frartion: (a) che tocal amount of ~he sums secured immediately before taking, ;
divided by (b) the fair market value uf che Yroperry immediacely before the taking. Any balance shall be paid tu f~urn?wer.
If the ~'roperty is abanduned by I3orrower, or if, after nutice by Lender to Burrower that the condemnur offers to ~nake _
~n award ur settle a claim fur damages, I3orn~~ver fails tu respond to I.ender within 30 days after the date the nutire is gi~~en,
[.ender is authorized tu cullect and apply the proceeds, at its ~~ptiun, eicher tu reseoratiun or rrpair ~~f che Prupercy or tu thr
sums secured by this Security Instrument, whether ur not then due.
Unless Lender and [3urruwer u~hera•ise agree in writing, any application uf pnxeeds u~ principal shall nut extend or _
fx~sepune the due dace of the munthly payments referred to in paragraphs 1 and 2 or change the amuunt c~f suth pa~~ments.
10. Borrower Not Iteleased; Forbearance By Lender Noc a 1X~aiver. Extensiun e,f che time for payment or _
modifiration of amurcizatson of the sums secured by this Serurity lnstrument granted by I.ender u~ any successor in interest uf
13orrower shall nut oper.~re to release the liability of the u~iginai l;urrower or Borrower's successurs in interest. l.ender shall
not be required to commence pruceedings againsc any successor in interesc ~~r refusc co ex~end cime for pa~~ment c~r utherH~ise
modify amortizacion uf che sums secured by chis Securicy~ Instrument by reason uf any~ demand made by the e~riginal [3urruwer
ur B~~rn~wer's successors in interest. Anp furbearance by I.ender in exercising any right cir remedy shall noc be a w~aiverof ~~r ~
preclude the exercise of any right or remedy.
11. Successors and Assi~~s Bo~!nd; Joinc and Severaf Liability; GQ-signers. Ttie covenants and abreements ~~f this
Security Instrument shall bind and 't~nefit the sucressors and assigns of Lender and Borrinver, subject u~ che pro~~isiuns uf
paragraph 17. tlorr+~wer's covenants and agreemencs shall be joint and se~~eral. Any Burn~wer u~hu co-signs this Security
Inscrumenc buc does noc execuce the Nuce: (a) is co-signing chis Security lnserumenc unly u~ muregage, grant and runvey that
E I3orrower's interesc in the Yruperty under the terms of this Securiry Instrument; (b) is nuc personall~~ ubligated tu pa}~ the
sums secured b~~ this Security Instrument; and (r> a~;rees tha~ l.ender and any other Borru«•er ma~• agree tu extend, modify, ~
~ fe~rbear or make any :~rrommod~tic~ns wich regard to the terms of this Seraricp Ins[rument or the Noce withuut ct~a~ ~
~ E3orruwer's a~nsent. ~
12. Loan Charges. !f the luan secured by this Security Instrument is subjert tu a law~ which sets maximum loan
ch~rges, and that law is finally interpreced so that the interesc ur other luan charges rollected or te~ be ce~llecced in a~nnectian ~
with tt?e Ie~an exceed the permitted limits, then: (a) any suct~ I~>an charge shall be reduced by the amuunt necessary~ te~ reduce '
ehe charge to che permitted limir, and (b) any sums already rullected from [3e>rrower which exceeded permitted limits will be ~
refunded ~o B~~rrower.l.enJer may choose tu make this refund by reducin~ the prinripal owed under the Note or by making a r'
direct payment to Borrow~er. If a refund reduces principal, the reduction will be created as a partial prepa}~ment without any~
prepayment charge under the Nute. 9
1 i. Legislation Affecting Lender's Rights. lf enactment or expiracic~n uf applicable law~s has ehe effecc of ren:iering ~
any pn>~~isi~~n ~>f the Nute ~~r this Security Instrument unenfe~rceable acrording tu its cerms, l.ender, at its opti~~n, may require
immediate payment in full uf all sums secured by this Securiry Instrument and ma~~ im~uke an}• remedies permicted bJ~ ~
paragraph 19. If I.ender exercises this optie~n, I.ender shall cake the steps specified in the secon~3 paragraph ~>f paragraph 17. ~
14. Notices. Any nc~tice to Borrowcr provided for in this Security Instrument shall be given b}' delivering it or bJ• ~
mailink it by firse class mail unless applicable law reyuires use of another methexi. The nocice shall be direcred u> the Pruperc}~ ~
~1dJress or any ~nher address Borrower designa[es by n~~tice to I.ender. Any n~~cice a, I.cnder shall be gi~~en bp first rlass mail
to I.ender's address stated herein ur any c~ther address Lender designates by nutice to Hurruwer. Any no~ire pre~~~ided fur in
this Security Instrument shall be deemed tu have been given ~o Born~wer ur Lender when gi~~en •as pro~•ided in this paragraph.
15. Governing Law; Severability. Th~3 Securit~~ Instrument shall be go~~erned b~• federal la~v and the law oF the
jurisdictic~n in which the Property is located. ln ehe evenc chat any pruvision ur clauseuf chis Security Instrumenc or che Nc~ce .
cunflicts with applicabte law, such conflicr sliall ni~~ affect othcr provisions uf this Securiry lnstrument c~r the Nute «~hich can
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be gi~~en effec~ withuut ehe runf{icting pn~~~isinn. Tu chis end ~he pruvisi~~ns uf this Securit}~ Inserumenc and che Nuce are
declared t~~ be se~~erable. ~ ~
1G. Bocrower's Copy. Be~rrower shall be gi~~en one ce~nh~rmed tupy of the Nute and ~if ~his Securit~~ Inscrumene.
17. "I'ransfer of the Property or a Beneficial Interest in Borro~ver. If all c~r any p~rt c~E the Pn~pert~• or an}• ~
incerest in ic is sold or transferred (or if a beneficial interest in Borruwer is sc~W ur transferrcd and Borrower is not a natural
person) without I.ender's prior written cc~nsent, I.ender may, at its ~~ption, require immediate paJ~ment in ful) ~~f all sums
secured by this Security Instrument. However, this ~~ption shal) not be exercised by Lender if exercise is prc~hibited by~ federal
law• as uf che datc of this Securit~~ Instrumcnt_
If I_enJer esercises this uption, Lender shall gi~~e Borrower notice e~f acceleraeiun. The rn~tire shall providc u periud ~~f ~
nut less than ~Odays from the date the notice is delivered or mailed within which Borrower must pay all sums secured b~• chis ;
Security Instrument. lf Borrower fails to pay these sums pric>r to the expiratiun of this period, l.cnder ma~• im•oke an~- ~
remedies permitted by this Security~ Instrument without further nutice ur demand on Borre>wer. a
18. Horrower's Right to Reinstate. If I3c~rrower meets cercain conditi~ms, Borrower shall ha~~e the right n> ha~•r =
enforcement of this Srcurity Instrument disce~ntinued ac any time pri~~r a~ the earlier ~~f: (a) 5 days lur such ~~ther period as
applicable law ma~~ specify fc~r reinscatement) before sale of the Pruperty pursuant to any power uf sale a~ntained in this Se- ~
curity lnstrumrnt; or (b> entry of a judgment cnforcing this Securiey lnstrument. Those amditions are that Borruw~er. (a) ~
~a}~s Lender all sums which [hen we~uld be due under this Securitp Ins~runient :?nd the Nute had no acceleration oaurred; cb) ~
rures any defaule of any u[her com~enants ur agreements; lc) paps all exp:nses incurre~ in enfe~rcing this Security~ Instrument,
including, but not limited tc>, reasonable attorneys' fees; and (d) takes such action as I.ender may~ reas<~nably require to as-
sure that the lien cif this Security lnstrument, Lendcr's rights in the Yropercy and I3orruwcr's obli~;aticrn te~ pa~~ the sums
secured by this Securicy Instrumenc shall c~intinue unchanged. U~xm reinscaeement by Borruwer, this Secarity Instrument
and the c~bli~;atiuns secured hereby shall remain fully effective as if nu acceleratiun had e~ccurred. Howceer, this right tu ~
reinstaee shall not apply in [he casc e~f ~cceleration under p~ra~;raphs 1 i e~r 17. ~
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