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1 69- 100163 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower ball : pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates is accordawx with Borrower's and Lender's written agreement or applicable law. IL IMWtlots. Undor or its spent may make reasonable entries upon and inspections of the Property. Under shall give Borrower notice at the time ofor prior to an inspection specifying reasonable cause for the inspection. 9. CorAkanatloe. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any pan of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) 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 Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is ' given. Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal "-snot extend of postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments: 10 Borrower Not Released; Forbearance By Leader Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower'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 amortisation of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's suocessors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Success= and Assigns Bon* Joist and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Bmawees covenants and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend. modify, forbear or make any accommodation.: with regard to the terms of this Security Instrument or the Note without t that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so.that the interest or other loan charges collected or to be collected in connection with the loan exceed the perncctted knits, three: (a) any such loan charge shall be reduced by the amount i necessary to reduce the charge to the permitted- limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed - under the Note or by risking a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Atl'eeti ft Leader's Rights. - If enactment or expiratiom of applicable laws has the effect .of rendering any provision of the Note or this Security Instrument unenformble according to its terms, Lender, at its option, may require immediate payment in full of a8' sums secured by this %curity Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender s63 take the steps specified ins the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by it by first mailing 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 to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Creverntiag Law; Severabilit , This Security Instrument shall be governed by federal law and the law of the jurisdiction in Whkh the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such condict shall not affect other.provisions of this Sectzrity,.Instrument or the Note which can be given effect without the coafticting provision_ To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shah be gives erne conform d copy of the Note and of this Seapffty. Instrument. 17. Transfer -of the Property or a Beneficial Interest in Ikrmwer. If all or any pact of thc Property or any, interest in it is sold or transferred (or if a beneficial interest in Borrowa is'sold or transferred and Borrower isnot a natural, -- person) without Lender's prior ca-ritten consent, Lender may, at its option, require'irnmediate payment in Cali' of all sums secured by this Security Insl.rumitnt. However, this option shall not be exercised) by Lender if exercise is. prohibited by federal law as of the date of this $ecurity Instrument. If Lender exercises this option, Lender shall give Borrower awfut of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed`.Cf tbin which Borrower viiiat pay all sums secured by this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Sectit#y Instrument without further notice or demand on Borrower. It Bkormwees Rigl t•ta Reinstate. if Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security lastrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law for reinstatement) before sale of the Property pursuant to any power of sale contained in this Instrument; (b) LSecurity or esitry of a judgment enforcing this Security instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security instrument and the Note had no acceleration d occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may t� reasonably require to assure that the lien of this Security instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by , y M. Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred However. this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17 I