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r l I I 89--.100022 If Lender ..equired mortgage insurance us a condition of making the loan sc~ured by lhi!\ Sl:l;urir.)' In!\tfument, Borrower shan pay the lltemiums required to maintain the insuranc~ in effect until sUl.:h time liS the rtqIJirement for the insur.nct" terminates i"accordance with B<lrrower's and Lender's wrinen agreement or applicable Inw. S. Inspection, Lender or its agent lUay make reasonabl.: elltri~ upon and inspections of the: Frcperty. Lender shall gi\'c Borrower notice at the time of or prior to an inspection specifying reasonable cause f~.,r the inspection. 9. Condemnation. The proceeds of any award or claim for damages. direct or con!\equential. in connection with any condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnatnQn, are hereby assigned and shall be paid to Lender. In the e\'ent of a total taking of the Property. the proceeds shaH be applied to the sums secured by this Security Instrument, whether or not then due, with llny excess paid to BC'Il':t'v\wr, In tbe event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, the sum!.> AA."Ctr.red by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction, ~i"~ the total amount of the sums secured immediately before the taking. divided by (b) the fair market value of the Property immediately before the taking, Any balance shall be paid to Borrower, . If the Propert). is abandoned by Borrower. or if. after notice by lender to Borrower that the c~ndemnor offers to make an award or seule a clanm for damages. Borrower fails to respond to Lender within 30 days after th~ da-to: the notice is given, Lender is authorized Ie- -collect and apply the proceeds. at its option. either to restoration or repair oFtbe Property or to the sums secured b~' tbns ~urity Instrument. whether or not then due. . " . Unless len.der Me Borrower otherwise agree in writing, any application of proceeds to- principal shall not extend 'or postpone the due date- onhe monthly payments referred to in paragraphs I and 2 or change th.t: amount of such payments. 10. Borrower ~~t R1efeased; Forbeannce By Lender Not a Wah'er. Extension.~f the time for payment or modification of atn"'!:t~;zatiQiI!l of the sums secured by this Security Instrument ganted b}i"Lender to any successor in interest of Borro~~ef sha~n not operate to release the Iiabmty of the original Borrower or Bo[T,lu~Ner's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or&rrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shaAU not be a waiver of or pfedude tbe exercise of any right or remedy. . ' II. Successors and .Assigns Bound; Joint and Senral Liabmty; Co-signers. The covenants and agreements, of this Security Instrument sltaLA'bind and benefit the successors and assigns of Lender and Borro~~r, subject to the pro\isions. of paragraph 17. Borrower'$ ccvenants and agreements shall be jC1i.llt and several. Any Borrower who co-signs this Securit}' Instrument but does not ell.ecute the Note: (a) is co-signing this Security Instrument only to mortgage, gl'1ant and convey that Borrower's interest ilm ~e Property under the terms oftbis Security Instru.f.lIto:nt; (b) is not personally obligated to pay th~ sums ~!!r~h.y this ~!!rity !p.strument; and {~) ag:-ees that Lender :md 3ny other Borrower may 3gree to c:t!e::~. ' modify, forbearuJr make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower'sconsent, 12. Loan Charges.' ,(lFtfre loan secured by this Security Instrum~nt is subject to a law which sets maximum loan charges. and that law is fin'aIly interpreted so that the interest or ot,ber loan charges collected or to be collected in . comtew.ttion with the loan exceed the permitted limits. then: (a) lm:J; sij,Ch loan charge shall be reduced by the amount neccSsilry to reduce the charge to the permitted limit; and (b) any'sums'already collected from Borrower which exceeded pemiltted Iimit5','iiiU be refunded to Borrower. Lender may chOQ!.ie'b.j'.rnake this refund by reducing the principal owed under the Note or by making Ii direct payment to Borrower. If a ref~ilJj redu~ principal. the reduction will be treated as a part[,1~prepayment without an.y prepayment charge under the Note. . 13. LeglslatfoD Affecting Lender's Rights. If enactment 0[' ejl;i>i~tron of applicable laws has the effect of rendering any pl~~~ion of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option. may require immediate payment in full of all sums secured by this SecUlity Instrument and may invoke any remedies permitted by paragraph 19. If Lender ellercises this optihn~ Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by deJi\'ering it or by mailing it b)' firit class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail tol~nder's address stated herein or. any other address Lender designates by notice to Borrower. Any notice provi.ded for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. IS. Go.uning Law; Seyerability. This Security Instrument shall be .gc.\.'erned by federal law and the law of the jurisdiction in which the Property is located. In the event that an}' provision'oS"dause of this Security Instrument or the Note conflicts with: applicable law, such conflict shall not affect 'other provisionS. of this Security Instrument or the Note whk:b can be given effect without the conflicting provisinn.. To this end the pr(t~t!~ons of this Security Instrument and the Noteare declared to be severable. 16. Bonower's Copy. Borrower shall be given one conformed copy of the Note and ofthis Security Instrument. 17. Transfer of the Property or. Beneficia' Interest in Borrower. If aU or any part of the Property or any interest in it i!> sold <lr transferred (or if a beneficial interest in Borro.....er is sold or'transferred and Borrower is not a natural ~~) without Lender's prior.writt~n ;o)~sent. Lender may, at its option. reqlllre immediate payment in full of all sums secuJr~ by this Security Insfv:ument HC'iNever. this option shall nOl be ellerdse;.~ by Lender if exercise is prohibited by federal law as Q,f.'the date of this Security Instrument. . If tend~'e.xercises this option, Lender shall give Borrower notgu of acceleration, The notice shall provide a period ofnotless than 30 days from the date the notice is delivered or maii~ ..'i~hm which Borrower must pay all sums secured by this ~urity Frn;!rument. IfB.oi'rower fails to pay these 'Sums prior to. the.expr.ration of this period. Lender may invoke any remedies permitted by this SecUrity Instrument without liunher n(l:t~ce'lQJJ:' <l!em21mi on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets ce.~'::JC'onditions. Borrower shall have the rlghl to have enforcement of .his Security Instrument discontinued at any time prior to the earlier of: (a) 5 day., (or such other period a!o applicable law may specify for reinstatement) before sale of the Property pursuant to any power of ...ale wntamed in Ihls Security In..trurnent; or (b) entry of a judgment enforcing this SecurilY Instrument Thmc condition.. arc that Rorrower: (a) pays Lender a1l sums which lhen would be due under lhis Security Instrument and the Note had no acceleratulD Occurred. (b) cures any default Clf any other cO\lenants ur agreement!.: (e) pay.. all clIpc""e" Incllrred In enforcing thiS Secunty In<;trument. mduding. bul not limited to. rea<;onable attorney..' fee..; and (dl take.. ..uch actioll a.. Lender may reasonably requIre to a....ure Ih;Jt the lien of tlll<; Secunt;. Instrument. tender'.. rlghl" III Iht: l"ope.l)' ilnd Hllf(lIWcr'.. obligation to pa) the ..um.. "cl'ur.:d hy th... 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