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89-:;; Se�1Q�a�t§ If Lender sired motlgase insurance as a condition of making the tun secured by this n y n n1, i ur term lipljtgg�tancew th Borroweristand Lender's written agreement or applicable low.requirement for the frptr11MM1R!aArlMMt4 its agent may snake reasonable entries upon and inspections of the Property. Lender stron I e'i a of or prior to an inspection specifying reasonable cause for the inspection. 9. Coodeiianation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part 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. Unlass Lender and Borrower otherwise agree in writing, any application of proceeds to principal, shall not .extend or postpone the Out date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10 Wr:rwer Not R= a:4- PaufAarance By Leader Not a Waiver. Extension of the titrte for payrutent 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 shallract 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 Borrower's successors 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. Successors &M Atudgm Boiud; Joint and Sereral Liability; Cosigners. 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, Borrower's 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 tlsaf Rnrre�w a antw_r�t'� 4 tt De�TMrty rind lhet —m-nns o f th-M .. t instrument; (b) 2,°..x"...5 �!!°: "�' .^..tSl:y^lt.�.. elf pay } the sums secured by- this Security Instrument; and (c) agrees that Lender and any other Borrower way agree to extend, modify, forbear'or make any accommodations with regard to the terms of this Security Instrument or the Note without 1 that Borrower'' ,consent. 12. Lem Charges. If the loan secured by this Security Instrument is subject to a taw 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 permitted limits, then: (a) any such loan charge shall be reduced by the amount 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 ay. making a direct pya trient to Borrower. If a refund roil ces principals t &e reduction will be treated as a partial prepayment iaithotti say prepayment charge. under the Dote. ` 13. legislation Affecting Leader's RigLts. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Ltstrumeat unenforceable according to its terms, A=der. at its option, may require immediate payment its. full of all sums secured. by -this Security Instrument and may invoke any remedies permitted by ppiragraph 19. If Lender exercises this optiori. Lerider shall take the steps specified in the seo®sd garigniph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Securitylastrument shall be given by delivering it or by mailing it by first class mail unless applicable law requites use of another method. The notice shall be directed. to the 4 ; Property Address or any other address Borrower designates by notice to Lender. Any, notice to Lender shall be given by first class to df to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided form this Security Instrumeti shall be deemed to have been given to Borrowerar lender when given as provided in this paragrephh IS ,' .t3overning Law; Severability. This`Security Instrument shall be goverried by federal law and the law of the jurisdictift in•v+hich the Property is located. In the event that any provision or clauseafi this Security Instrument or the Note confii= with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which cari begiven effect without the coaffk ing provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. .Borrower's Copy. Bor xmka cshall be given one conformed copy of the Note and of this Security Instrument.. 17. - Traasfer of the Property or *Beneficial Interest is Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's 'prior written consent, Lender may. at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. _ if Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by i 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 Security Instrument without further notice or demand on Borrower. 16. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of. (a) 5 days (or such other period as ' L applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry 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 occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this r11- Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may 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 r. Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had Mcurred However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.