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If l.rn~ler reyuire~! mure~a~;r insuranre ~s a iunJitiun uf makin~; [he luan srcurrd by this Securicy~ !n- ~
,erumrnt, Hurruw~er sh~ll pay che prrmiums rryuire~l tu ~n:+intain the insur~nce in effect until such time as a rryuiremrne fur ~
ehe in5urancr termin~crs in ~cr~~nlance w~i[h Hurruw•rr's an~f l.rn~ler's writren ~~;rrrment ur applirablr law~.
8. (nspection, f.enJrr ur ics a~;c~t m~~~ m:~kr re.~sunable rntrics uExm and insprrciun, uf the Pruprrc~~ I.rn.lrr shall -
~i~•r Hurruwrr n~?ticr at thr timr i>f ur priur eu .~n inspc~itiun sprcif}'~n~; re~sunablr rause fur the inspriciun.
9. Condemnation. Thr prexreds uf anp aw~srd ur claim fur d~magrs, direce ur cunseyuential, in ce~nnrcriun wi~h an}' '
cun.lemnaciun ur ~~~her takinti uf :?n~~ part uf che Pru~ercy, ur Fur cum~ey~nre in liru ~>f rundrmnatiun, :?re hrrrb~• ~ssi~;nr.l .?n~l ?
~h~ll he p:~id tu l.endrr. F
In thr event uf a cuta) c.?kin~; uf chr Pru~C:rty, the pnxreds shall br applied co che sums sriured h~~ chis Securit}~ ~
lnsrrument, w•hrthe~ ur nut chen ~1ue, with ~ny excess paid tu Kurn?wer. !n the e~~ent uf 1 parcial t:?king uf the Pruprrc~•, unirss
Burruwer and l.rndrr utherwise ~gree in writinx, the sums sc~ured b~~ this Srcuriry Instrument shal! be redurr~l by thr amuunc
~~f ehe pnkeeds multiplird b}' thr fulluwing fractiun: (a) ehe cucal :?mc?unc uf thr sums secured immediatcly befure c?kin~;,
.~i~ ided b~~ tbi che fair market value uf the Prupercy imn~ediatrly brfurr thr ~akinx. An~• bal~nce shall be paid tu Hurruw~er.
If rhe Pn~prrt~~ is ab;~nduned by B~xruwer, ur if, aher nuiire by I_ender ~iz Burruwer chac thr cun.lrmnur uffers cu makr
an aw•~zd ur settle a claim fur dama~;es, Burruwer fails tu respund u~ l.ender w~ichin 30 d~~•s after chr date ~he nutirr is gi~•rn,
Lrnder is auch~~rized eu a~llecc and apply~ ehe pnxeeds, ac ics upci~m, eicher tu resu~raciun ur repair i>f the Pruperc}' ur ru rhe
sums sccure.l b~~ this 5ecurity Instrumenc, whether or n~>t then due. ~
Clnless Lender 3nd Be>rruwer utherwise agrre in writin~;, any applicaciun uf pr~xeeds cu princip3l shall nuc rxcend ur
Ex,sr~me rhe dur dsce e~f che mun~hly p~ymencs referred cu in paragraphs I and 2~x rhange che amuunc uf surh pa}~mrncs. `
lU. Borrower Not Released; Forbearance By Ixnder Not a Waiver. fixcensiun uf ehe cime f~~r p.?ymenc ~~r ~
~n~xlific~ciun uf amureizaciun uf ehe sums secured by ehis Securic~• Ins~rumrnt gr~ntrd by Lender tu any sucressur in interest c?f
Burruwer shall nut uprr:~te tu rele~se the liabili~y ~~f the uriginal Burruwer ur Be~rruwer's sucressurs in inrerest. Lender shail
nut be cequire:i cu cummence pnxeedings against any sucresse~r in interest ur refuse co extend time fur pa~~ment ur utherw•ise
mudify am~?rtizaciun uf che sums secured b~• chis Security 1"nstrument by reasun uf any demand made by the ~?riKinal B~~rruwer
ur Burruwer's success+~rs in interest. Any furbraranre by l.ender in exercisinR any righc ur remedq shall nut be 1 w~i~~rr uf ur
prrclu~fe che exercise uf any ri~ht ur rrmedy.
1 t. Successors and Assigns Bound; )oint and Several Liabilicy; Co-signers. The cuven~nis and agreemen~s uf rhis
~ecurity liucrument shall bind and benefit the sucressurs and .~ssiKns uf LendNr and Hurruwer, subject cu che pru~~isiuns uf
p1r.~Kraph 17. Burrower's ruvenants and ~Kreements sh~ll be juint and se<<eral. Any Burn~wer w•ho cu-sikns chis Securic}'
lnstrumenc but d~xs nue exrcute t6e Nute: 1 a) is ru-signinK this Security Instrument unly n> murtgage, grant and cum•e~~ chat
Burn?wer's inerrest in che Pruperty under che ce~ms ~~f this Security Instrumenr, (b) is nut personalty ublixared tu pa~~ the ~
sums secured b~• chis Seruric~• Inscrumrnr, and Ic) :~grees chat Lender and sny uther Burruwer may a~;ree cu extrnd, mi~ify,
furbear ur m3ke anp aicummcxlatit~ns w•ich regard u~ che cerms e~f this Securit~~ Instrumen~ t>r the Nute withuuc thac
Burruwer~s cunsent.
12. Loan Charges. !f che I~~an secured by chis Securicy Inscrumenc is subjecc n~ a law whirh secs maximum luan
rh~r~;es, and th:~t iaw is finally inrerpretrd so that the incerest ur ~~cher luan charges c~~llecced ur to be a~llecced in cunnecti~~n
wi~h the luan exceed the permicced limits, then: 1~> any such (u~n rharge shall be reduced b~• the amuunc neccssar}~ c~~ reduce
ehe charKe n~ the permitced limit; and 16) any sums :~Iready ru~lecced fn?m Burre~wer which exreeded permicced limics will be
refur.ded a? Burruwer. [.ender may nc~xise tu make chis refun~! by reducin~ thr principal owed under the Note i~r by making a
direcr payment ro Burr~~u•er. If a refund reduces principal, ehe reduiciun will be created as ~ partial prepa~~mrnc w•ithiwe an}'
prrpa~~mrnc charKe under the Nute.
13. l.egislation Affecting Lender's Rights. If ensc~menc e~r expiratiun uf applicabte law~s has the effect uf renderin~;
an~• pnn~isiun uf the N~~te ~~r chis Se~urity ?nstrument unenfurceable aa~>rding ro its terms, I.ender, at its upciun, m~y require ~
i?nmrdia~e psymenc in fult uf all sums srcured by this Securiry Instrument and ma~~ invuke any~ remedies permitted by ~
p~ra~;raph I~). iF Lender exercises chis i~ptiun, l.ender sh~ll take the steps specified in the sea~nd paragraph uf paragraph l7. `
1~. Notices. An}° nutice :o Be~rn>wer pruvided fur in this Securiry Instrumenc shaU be Kiven by deli~~ering ic ~~r b}' ~
m:~ilinX it by first class mail unless applicable law requires use ~>f an~~ther meth~xi. The notice shall be directed cu the Yruperty- ~
Ad~lress ur any ~~ther address Borruwer designaces by nocice to Lender. Any notice co Lender shall be giti~en by first class mail ~
w Lender's address stated herein ~~r any other a~dress t.ender designaces by n<~tire tu Bi~rn~u~rr. Any~ nutice pro~~ided fur in ~
chis Securiey Instrumenc shall be deemed have been given u> Horrower ur Lender whengiven as pren~ided in this paragraph.
15. Go~~erning Law; Severability. This Security Instrument shall be gc~verned by federal law and the law~ ~~f the ,
juris~licti~>n in which the Property is I~xated. ln the event ehac any pnn~isiun i~r clause uf chis Security Instrumrnt ur the Nore
a?nflices with appiicable iaw, such amflict shall nut affect other pru~~isiuns ~?f chis Securicy Inscrumenc c,r rhe Ne,ce whinc ~an
be Ki~•rn efferc withuu~ the runflicting pr~?visi~>n. Tu this end che prcn~isiuns uf this Securicy Instrument ~nd che N~~te are
~ieclared tu be severabte.
!G. Borrower's Copy. B~>rruw~er shall be gi~•en one cc~nf~rmed cupy uF ~he Nute and ~~f chis Security Instrument_
17. Transfer of che Property or a Beneficial Inreresc in Borrower. If all ~~r sn}~ parc uf che Yropercy~ ur an~•
inreresc in it is suld ur transferred lur if a beneficial interest in Burruwer is suld ur transferred and Bi~rrower is nut a natura!
persunl withuut l.ender's priur writcen consent, I.ender may, ac ics op~iun, require immediatr payment in full uf all sums
secured b}' this Securiey instrumen~. However, this upcic~n shall ne>c br exerrised by 1_ender if exercise is pn~hibired by federal
I:~w as uf che Jare uf chis Security lnstrument.
lf Lender exercises chis ~>ptiun, I.ender shall give Be?rruwer ni>tice uf acceleraciun. The notice shall provide a perie~dof
nuc less chan 30 days from che dace the nutice is deiivered or mailed wichin which B~irruwer must pay atl sums secured by this
Serurity Instrumenc. If Borruwer fails to pay chese sums priur to the expiraciun of chis periud, Lender may invoke any
~emedies permitcecl by this Securicy Instrument withc~ut further ne~tice or demand on Borrower.
18. Borrower's Righc co Reinstate. If &~rruwer meecs certain condiciuns, Burrower shall have che righc co have
enh~rcement uf chis Security Inscrument diswntinued ac any time prior ro the earlier uf: (a) 5 days lor such ixher period as
applic~hle I~w may specify for reinscacemenc? befure sale c~f che Property pursuanc te any power of sale wncained in chis Se-
curity Inscrument; or (b> entry uf a{udgment enfurcing this Security lnstrument. Those condicions are that Borrower: (al
pays l.ender all sums which then wuuld be due under chis Security insrrumenc and che Note had n~~ accelerariun uccurred; Ib)
rures any default uf any uther cumenants or aRreements; tc) pays all expenses incurred in enforcing chis Security lnstrumenc,
including, but not limited tv, reasunable atturneys' fees: and Id) takes such action as Lender may reawnably require to as-
sure ~ha~ rhe lien uf chis Securicy Inscrumenc, l.ender's rights in the Property and Borruwer's obligatiun to pay the sums
securrd by this Seturity Instrument shall cc~neinue unchanged. Up~~n reinstatement by &~rrower, this Securicy In;trument
and the ubliAations secured hereby shall remain fully effective as if no acceleration had <xcurred. However, this right t~
reinstace sh~tl n~n apply in the case uf acceteracion under paragraphs 13 or 17.
~ooK 674 Fac~ 2746
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