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r L 1 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall 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. 8- I111OWdoai. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender sW give Borrower natibe at the time of ©r prior to an inspection specifying reasonable cause for the inspection. 9. Coaadeitination. 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 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 Lender otherwise agree in 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 Wore the takes; Any balance shall be paid to Borrower. If the Property is abandoned l y Borrower. or if. aftmr notice by Le,,der to Bbmv, wer that tab 4ndett =r offers to make an award or settle ai ctkm Vicar d ama$es. Bemmwer fa'i 2,; respond to I.ettder. wittUn 30 days after the dam die notice is given, Lender is authacdma "; M &%d VOY the per, at its option„ 'e:tfw to �.c:uration or repair of the P3vperty or to the sums secured by tffm Security instrumem. , %%ether or not then due. Unless Lender amd Borrower-atherwise a in writing, any applicarion of proceeds to principal shall not extend or postpone the due date of Lire monthry gaymenti referred to in �wagraphs 1 and 2 or cheage the amount of such: yai 7mettis. ifi: Borrower Not Relgaealk iFtsrharanct By Lesser ?Von a Waiver. Tcicsr ^see of t he time fcr payment or modificatics of amortization of the %, =s secured by thig' &aunty Instrument gr.�t1 -L- by Leii� to any VaWessor in interest of Borrower sh& not operate to release rifle Uabiraty o: the origina0 Borrower or Borrowers-secessors iit interest. Under shall not be required to commence proocedings against any successor in interest or r6iw to entmd - date for payment cc ctiherwisemodify amortization of the sums secumd by this Security Instraeixt bs�•r t otany der rid made by the or* girrd Borrower or Borrower's successors in interest. Any forbearance by Lendt-in e`xen s any right; or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security 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 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 turns of this Security Instrument or the Note without that Borrower's consent. 12. Loran Cbargea. 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 amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from fiarrclwer 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 LegWation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rmdering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, tray require immediate payment in full of all sums secured by this Security Instrment 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 paragraph 17. 16. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by ro -61ing 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 other 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. CVeraiag Law; Seversbility. 'Phis Security instrumenashall be governed by federal law and the law of the parisdiction in which the Property is located. In the event thatiany+ provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict Beall not affa:t other provisions of this Security Instrument 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. Borrowtr's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Traaafer of the Property or a Beneficial Interest In Borrower_ If all or any part of the Property or any interest in it, issold or transferred (or if a beneficial interest in Borrower is sold or trans- rerred and Borrower is not a natural person) w,ithowt Lender's prior written consent, Lender mays, iil..its option, require tn,n1 tdiate payment in full of all sums secured by th's Security Instrument. However, this option s'hail not be exercised Icy Lender if exercise is prohibited by re4cral lave as of the date of this Security dns :rum +ent.. If Lender exercises this option. Lender shall give Borrdisdr notice ofal ;celeratien. The notice shall provide a period 4t rot less t6a 30 days from the date the notice is delivered rr m.?iled within which $arnawer must pay all sums secured t r this Security Cnstrument. If Borrower fails to pay these sums pritir to the expiration of tires period, Lender may in ,,oke at.i, remedies permitted by this Security Instrument without further notice or de nand an Borrower. 111. Borrower's III& to Reinstate. If iltrrrower meets certain conditions. Borrower shall have the right ir, have enforcement of this Security instrument discontittu,_d 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 containra3 in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument Those conditions are that &3 Trowcr. (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, pnd (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 Dorrower's abligation to pay the sums secured by this Security Instrument shall continue unchanged. Urgm reinstatement by Borrower, this Security Instrument and the obligations secured hereby shalt remain fully of ective as tf nu acceterai ion had .occurred. However. thisnght toreinstate shall rintapply in the case Of acceleratrcm under paragraphs F', fir 17 El h �! q ..f r- — t