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r 89.;M1020.40 If Lender required mortgage insurance as a condition of making the loan secured by this Sasurity Instrument.':: k Borrower shall pay the premiums required to maintain the insurance in effect until such time as the roquiremrnt for the insurance terminates in accordance with Borrower's and Lender's written agreement orapplicable law. ' " S Inspection. Lender or its agent may make reasonable entries upon and inspections of the Propel [y. Lender shall give Borrower noticeat the timeof or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages. director 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 sutras 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 agreein 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 n6lice by Lender to Borrower that the eunderniwr a i'ers to make an award or settle a claim for damages, Borrower fails to respond to�i_ertder within 30 days after tt3' ectate -ihe notice is given. Lender is authorized to collect and apply the proceeds. at its.aptia », Oher to restoration or repzirof the .Property or to the sums secured by this Security Instrument, whether or not then .dtte ; Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not Q-_,mend or postpone the due date of the monthly payments referred to in: praregraphs 1 and 2 or change the amount of such p ay1hents. 10. Borrower Not Released~ Forbearance By Len6& Not a Waiver. Extension of the time for p�}rnent or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall rya *_ Operate to release the liability of the original Borrower or Borrower's successor. in interest. " ., Lender shall not be reii:.: s} its :e'tmence proceedings ag=!q any successor in interest or refuse to extend t;nne for . payment or otherwise mot;Lly ,,:jm, 4ation of the sums secured by this Security Instrument by reason of any demar,ii made by the original Borrower or &,wawie s successors in interest. Any forbearance by Lender in exercising any righn Cr ainedy shall not be a waiver ofor prec; :.tee &t exercise of my right or remedy. 11. Suecenors and Assiijos Bound; Joint and Several Liability, Co- signers. The covenants and agrc -=,:s cr. this Security Instrument shall bind a r d benefit the successors and assigns of Lender and Borrower. subject to the k;sXj s of paragraph 17. Borrower's coveea=s and agreements shall be joint and several. Any Borrower who co -signs tit s$.- :znrity Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personalty obligated to pay the sums secured by this Security Instrument; and (c) agrees that Leader 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 maxir v_ :^t loan charges. and that law is fina;iy 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 n-A'aced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted lii -de.s will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the N ie 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. Legislation Affecting Lender's Rights. If enactment or expiration of applicabler laws has the effect of 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 sums secured by this Security Instrument and may invoke any remedies permitted b.9 paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph �. 14. Nod es. A%s notice to Borrower provided for in this Security instrument shall be given by delivering it or by rmailing it by first class ;."ail unless applicable law requires use of another method. The notice shall be directed to the F.operty Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class. elv Yto Lender's address st-cati herein or any other:uidress Lender designates by notice to Borrower. Any notice provided ;c7: in this Security lrtstrume� ^shall be deemed to Nava been given to Borrower or Lender when given as provided pit: this paragraph. 15. Governing Law; Severability. This Security Imirurnwtl 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 oft his Security Instrument or the Note confiic.Yt_, with applicable law, such conflict shall not affr:ct tither provisions of this Security Instrument or the Note which can ISAw riven effect without the conflicting provision. To. this end the provisions of this Security Instrument and the Note are der.Wred to be severable. 16 Rorrowtes Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Irmsfer of the Property or a Beneficial interest in Borrower. If all or any part of the Property or any interest in it:Iii',sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is nera'ixatural person) witZitsatt Lender's prior written consent. Lender mav, at its option. require immediate payment -in full tt';t!!' 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 e`..emiscs this option. Lender shall give But rower notice ofacceleration. The notice shall provide a period of not less than 30 days from the date thrnotice is delivered cr tnatled within which Borrower must pay all sums secured by this Security Instrument. if Borrower fails to pay these sums:ptior to the expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without furtlicc notice or demand on Borrower. 10., 00rrower's Right to Reinsute. If Borrower meets certain coit:iitions. Borrower shalt have the right to have 0� 'Jfcemi ttt of this Security Instrument discontinued at any time prior to the earlier of: (a) S days (or such other period as apphcab :`� , N 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 arc that Borrower: ta) pays Lender all sums which then would he due under this Security Instrument and the Note load no acceleration occurred; (b) cures any default of any other covenants or agreements: (c) pays all expenses incurred to enforcing this Security instrument, including, but not limited try, reasonable attorneys' tees: and (d) sakes such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lender's tights in the Protpert) and Borrower's Obhgatcun 10 pay the %urns secured by Ilits Security instrument shall continue unchanged. Cron reinstatement by fiotrowtr. this Security Instrument and the obligations secured hereby shall remain fully effectn a as d ito acceleratum had occurred. Ht:wewr. this right to reinstate shall no t apply art the case ofacsel rattettt under paragraph; 13 or 17 . � •atttt!eF I __