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I 89- IOJL074 If Leader required mortgage insurance as a condition of malting the loan secured by this Security Instrument, Borrower shalli pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. L IageetkwL Lender or its apent may make remeatile entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Candennalloo. 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 atuigned and shall be paid to Lender. In the event of a total tatting of the Property, the proceeds shall be applied to the sums secured by this Security Insatmaett. whether or not then due, with any excess paid to Borrower. In the evert of a partial taking of the Property, unless Borrower and leader otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multipW try 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 peid,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 resptnsd.to Lender within 30 days after the date the notice is given, Fender is authorized to collect and apply the proceeds, at itsaption, either to restoration or repair of the Property, or to thasums secured by this Sec idi-v Extent. whether or not thee; due. .Unless Lender and Bor cower 6eswise agree in writing, any applicatim af proceeds to principal shall not extend or prvae the due date of iiic niy-roeytaents referred to in paragraphs 1 and Z or change the amount of such payments. 10. hi!o: rower Nast; ibeLimV*'- >forlieanntee By Lender Not a Waiw: Extension of the time for payment or modification of =wtization of the sumss segued by this Security Instrument granted by Lender to any successor in interest of Vie; shall not operate to release the liability or the original Borrower or Borrower's successors in interest. Lender shali =' 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 ofany demand made bj tla gdginsl Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy si dot be awaiver of or preclude theexesciise of any right or remedy. IL, : SiaMWM sari Asdgw two* Jost and Sevad L %biillty; Casigsen. The covenants and agreermenrs of ti<nas Security Instrument shQLbind and benefit the successors and a us of Lender and Bawer, subject to the provisions afparagraph •17. Borroweesammants and agreements shall be joint and sev=L Any Borrower who co -signs this Security Emwument but does not erasrte the Note: (a) is co-signing this 5ecurrtp it wseerit only to mortgage, grant and convey tf ui Borrower's interest in the Property under the terms of this Security invr.asrent; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that fender and any other Bawer may agree to extend, modify, forbear or make any accommodations with regard to the tn-,"-ts of this Security Instrument or the Note without rhafi Borrower's consent. 1Z. Lose Cbwga. If the loan secured by this Secur -ty bvrument is subject to a law which ants maximum loan charges, and that law is finally interpreted so teas Mite interea or other loan charges collected or to be collected in connection wkh the loan exceed the pemtsctted L1#it% then: (a) my such loan charge shit be reduced by the amount necessary to reduce the charge to the permitted IS - ";4 and (b) arr wins already collected from Borrower which exceeded permitted limits will be refuxded to Borrower. Leader may choose to make this refund by reducing the principal owed uWa the Note or by maki4 a: &rest payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without ma pcepalmr.rit charge under the Note. 13 L4&ktke ARecuiaW LewWs RIO&L If enactment or expiration of applicable laws has th4 effect of rendering any provision of the Nate or its Security Instrument unenforceable according to its terns, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may Wick -. any remedies permitted by paragraph 19. If Lender exercises this: tpaion. Lender shall take the steps specified in the se�v rti paragraph of paMgraph 17.: 14, Kadica. Any notice to Romwer provided for in dais. security Instrument shag be given by deliveri.v if: Cr by mailing it by first class mail unless aFq-�:icable law requires use of another method. The antice 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 fast class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Secur ftyv Instrumert shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Goiraft Law; Seveaforility. This Security Instrument shall be governed 1Ly) fidra) law and the law of the jurisdiction its which the P aperty is located. In the event that say provision or clause of the., Swntity Instrument or the Note conflicts with ap -wiWe law, such conflict shell Wit a!fert other provisions of this Sewdt:i_ Instmment or the Note which can bcg;ven erect siithout the conflicting pm0,k7.'Ta this end the provisions of tltisSftwT%Y Instrument and the Note are deel trod to be severable. 16. lisrrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Trader of tie Property or a BeseficW Interne 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 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 J. 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 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. It. Doi- ia..ar's l llg: to Re`.;�ta. If Rorro ref meesa certain conditions, Borrower sliaf ire the Of to heave enforcement of this Security Instrument discontinued at any time prior to the earlier oft (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 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 Borrower. this Security instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this tight to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. v s i. s- M1 �6 v��