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l a t is k; W L f 89== 101076 If Lender required mortgage insurance as a condition of snaking the loan secured by this Security Instmment, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement: fpr+the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. it. Isislectka. Lender or its agent may makereasonable entries upon and inspections of the Property. Larder shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. CeMeomatioa. 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 diall 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, ualew Borrower and Lander otherwise agree in writing, the sums secured by tNs Security Instrument shall be reduced by ft . mount of the proceeds multiplied by the following fraction: (a) the tots ''intount of the sums secured immediaidy bft the tai&& divided by (b) the fair value of the Property immedi 'r before the taking: Any balance shall be pie tltvBorrower. :. If the Property is abmdoned by Borrower, cr if, after notice by Lendat to Borrower that the condemnor ollers to =Oktan award or settle a claim for dapr respond Borrower fails to to Lender within 30 days after the date the notice is Lender is authorized to collect so .d apply the proceeds, at im�tion, either to restoration or repair of the Property or bd t sums secured by this Security Instrument, whether es ;�> flue. Unless Lender andB�orrower otherwise agree im wm=& any applicatkc i, oforoceeds to principal shall not extend or Et. ne the due date of ti r-mi onthly payments refertred to in paragraphs 1 aril Z or change the amount of such payments. 10. Borrower r*i- Reltasetk Forbearance By leader Ndt a Waiver. Exicusion of the time %Y paywcat or �>iitvdification of gmi t:? m ion of the sutras secured by this Security Instrument granted by Lender to acry sue"mrin interest of Borrowe sh:-O not operate to release the liability of the original Borrower or Borrower's suers in iute=t. Lmder shall 1161 W'regxd-,vd to commence proceedings against any successor in interest or refuse to extend times far pragment or otherwise mod5y amortization of the sums secured by this Security Instrument by reason of any demand made by tiu original Borrower or Borrower's st)ecessors inir~2 Aay .forbearaacc by Lender in exercising any right or remedy shall not be a waiver ofor preclude theeurciwofanyrkg=cc*ea iy , 11. Successors and Asaips.9=4 Joint dad Several Tt.iw%iM-w; Co- signers. 172e revenants and agreements of this Security Instrument shafk Kid amdbenieSt the swc-c sots and ass:�g,-cf L=dtr and Elo -wer, subject to the prave�aMs of paragraph 17. Borrower's agreeromts shall be joint and sevee 1. Via$ :13oirower who co-signs this Secwar rte Instrument but does not execute the :1'cem- (a) is co-signing this Security Ins= ri cnt only to mortgage, grant and cortury. that Borrower's interest in the Property under the terms of this Security Instru —ment; (b) is hot personally obligated tit P.Z Y the sums secured by this Security Instrument; and (c) agrees that Leander and any other Borrower may agree to ext�, modify. forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. IL Las Chows. 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 permitted limits, then, (a) any such loan charge shall be reduced by the an$vunt 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 ells refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reducm• principal, the reduction .will be treated as a partial prepayment without any prepayment charge under the Note. 13. Laislatlos Affecting I.ader's Rights. If enactamr- or exwsration of applicable laws has the eff='of rendering any provision of the Note or this Security Instrument uumi c=bir. according to its terms, I.Amder, at OW o ftrion, may require immediate payment in full of all sums secured by ±Jiffs Secu�ry Instrument and may itt5;okd any -P=pAies permitted by paragraph 11, I !.ender exercises this option, Len vd,All take flit steps specified in the se�tv3 parag�h of Paragraph 17 14. Notices. Any tri:44eto Borrower provided for in his Security Instrument shall Iregiven by delivering it or by mailing it by first class malt extit s applicable law requires use of another method. The tiiutiee shall be directed to the Fboperty Address or any ck} +Lr rddress 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 bedeemed to have been given to Borrower or Lender when given as provided in this paragraph. It kerning Law; Severability. This Security Instrument shall be governed by federal law and the law of the jtuisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Noele conflicts with applicable law, such conflict shall not affect other provisions of this Security Instn)ment or the Note which can 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. Trassfer of the Property or • Beneflelal interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or ifs 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 asof 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 30days 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. M Botrewees 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 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 Secunty 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 iten 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 ubhgatiotis secured hereby shall remain fully effective as if no acceleration had occurred. However, this tight to reinstate shall not apply to the caw of acceleration under paragraphs 13 or 17 i t ,F :4 f~ JIM