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10 100458 r If Lender required mortgage insurance as a condition of making the hSeen secured by this Security Instrument. 8artow�r.�j� required to maintain the insurance in for 1 jh�ptemiums efrert until such time as the requirement the idt'aa`sccordancx with Borrower's and Lender's written agreement or applicable law. 4, � �, �� loader or its agent may make reasonable entries upon and inspections of the Property. Lender w*elsa #9ortowervtaeiceatrhe tithe to inspection for inspection. live ofor prior an specifying reasonable cause the 9. Cosieataatloaw The proceeds of any award or claim for damages, direct or consequential, in connection with any oondemnation 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 exceu paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, the sutra secured by this Security Instrument shall be reduced by the amount of the pmeeeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking. divid td 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 as award or sett3e a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice-is given. Leader is vzr arized to collect and apply the proceeds. at its option, either to restoration or repair of the Property or to the arms seduce@ by this Security Instrument, whether or not then due, UnBess Leader and Borrower otherwise agree in writing, any application of preceeds to principal shall not extend or postpom ft due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 11. Sommer Not Release* Fwbearaaoe By Lester Not a Waiver. Emmsion of the time for payment or modification of amortization of the stems secured by this Security Instrument gradated by Larder to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrowees successors in interest. Lender shall not be requited to commence pcoceedtap against any successor itt interest or' refuse to extend time for payrawt or otherwise modify amortization of the stems secured by this Security Instrument by reason of any demand made by the 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 aW Anive Boars* daunt and Several I hft(W, Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the succme s and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements sba M be joint and several. Any Borrower who co -signs this Security Instrum mt but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that Borrowe'r's interest in the Property under the terms of this Security Instrument; (b) is not personally.oblitated to pay the sums secured by this Security Instrument; and (e) agrees that Lender and any other Borrower may agree to extend, - modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without 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 im 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 by making 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. Ledalatiora Affeetfrrg Leader's Rigftts. If enactment or expiration of applicable laws has the effect d rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all, sumo secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of para&ig* 17. 14. Notices. Any notice toBorrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first 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 outer 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. Govealsg Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note cmtflicts with applicable lave, such conflict shat not affect other provisions of this Security Instrument or the Note which an be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Noteare declared to be severable.' 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument_ 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred Car 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 F' of not less than 30days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If BoOmwer fails to pay these sums prior to the expiration of this period, Lender rnay"invoke any remediespermitted by this Secui ty Instrument witliGutrurther notice or demand on Borrower. Ni. Borrower WRiskt..tarRel astute. if Borftiwer MMts certain conditions, Borrower shelf, ha Ve lh>e right to have ! enfowcement of this Seou_rity Instrument d isebentituedf: at:any time prior to the earlier of: (a) S days fot such other period. as • apphcable law may specify for reinstatement) befosc sale of the Property pursuant to any power of We centairied in this � See urdiy Instrument; or (b) entry of a judgment enforcinj this Security Instrument Those conditions are that Borrower: (a) pays Lender'aH gums 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 Security Instrument. including. but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may des reasonably require to assure that the lien of this Security Instrument. Lender's rigbm in the Prop6gr 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 remarry Quay effective as if no acceleration had a' occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17.