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I 89-- 100549 If Lender required mortgage insurance as a conditions of making the loan secured by this Security Instrument. Borrower shall pay the premiums requites to maintain the insurance in effect until such time as the requirement for the insuranceterminates in accordance with Borrower's and Lender's written agreement or applicable law. hugectlow. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall miBorrower ' notice at the time of or prior to an inspection specifying reasonable cause for the inspection. The proceeds of any award or claim for damages, direct or consequentW, in connection with any tion 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 Leader otherwise agree in writing, the s:=s 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 authorised to collect and apply tike 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 Lander ad Borrower otherwise agree in writing, any application of proceeds to princi* shall not extend or postpone the due tithe of the mouthly paymen:o rd" yaw to in par..g:sphs i and 2 or ehmige the am-- ant of such payments. JDQ Borrower Not Released; Forbearance By 14oder Not a Waiter. 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 succemrs in interest. Lender shall not be required to commence proceedings against any successor in interest or rn f se to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by,r=wn of any demand made by the original Borrower or Borrower's successor: in interest. Any forbearance by Lender in exercising any right or remedy shall a waiver of or preclude the exercise of any:right or remedy. • 11 Successors asid Asslim Bond; Joint aM Several Liability; Co -4dpa s. The covenants and agreements of this Security Instr=ka►t shall band and benefit the suiccw s and assigns of Lender and Borrower, sir *m to the gaoviskos of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who cosigns thisSecuxity Ituimtmient vat does ups ei use 'tae i ivies (s� ii w iaiuug iiccr' .mit'y ILasa"-uinwi i iC T.,::rtd..a:, �..n: urns 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 accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Low Cber`m If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law a finally interpreted so that the inteaKst or other loan charges collected or to be colleted in connection with the loan exceed the permitted limits, then: (a) any such loan charge shsdl 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 wilt ber.rdiinded to Borrower. Lender may. choose to malice this refund by redt=j the principal owed under the Kate at by nu=king a direct payment to Bomower. If a refund reduces principal, the reduction will be treated as a partial prepyz=t without any prepayment charge under the Note. 13. I.eghla los AReeft Leader's RI&M& If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument =, enforceable according to its terrors„ Lender, at its option, may require immediate payment in full of all sums secured by. this Security Instrument and may invoke any remedies permitted by paragraph 19. Ir Lend.w ere cises this option. 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 delivering it or by mailing it by first class mail unless applicable law requires use of another method. The ne# &.shall be directed to the Property Address or any other add rr5s Borrower designates by notice to Lender. Any notice to Leander 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 Instruamwi shall be deemed to havebeen given to Borrower or Lender when given as provided in this paragraph. 115. Goveraing Law; Severablilty. 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 conflicts with applicable law, such conflict shall not affect other provisions of this Security Instritmment or the Note which as be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are 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 (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 tray, 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 trailed within which Borrower must 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 remedi tied by this Security Instrument without further notice or demand on Borrower. Borrower's Right to Rehm ate. If Borrower mats certain conditions, Borrower shall have the right to have enfor� this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained to 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 Security Instrument, including, but not limited to, reasonable attorneys' fees: and fd) 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 Borrower. this Security lw trument and the obligations secured hereby shall remain fully effective a% if no acceleration had nccurred HMI C16 r. this right to reinstate Shall not apply in the case of acceleration under paracraphs t t or t' 1 J 7 i = Fk== ' t• mE alt+ r' }