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L 1 102389 If Leader required etortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower" 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. 3. Inumedw Lender or its agent may make reasonable entries upon and inspections of the Property. Laider shalt give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Coatdeahaatlow. 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 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 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 authorized to collect and apply the proceeds, at its option, tither to restoration or repair of the Property or to the sums securedby this Security Instrument, whether ar net than due. Unless Lender and Borrower otherwise agree in w&jing, any application of proceeds to principaltha l not extend or postpone the due date of the monthly payments referred to in pasagr. Vhs t and 2 or change tlse amount of such payments. 10. Borrower Not Rdeaaed; Fa brearame By Lender Nat m sWitirer. Extenscm i of the time for payment or modification of amorfizati:on of the sums secured. by this Security Pis -M amnt t granted by Lender to any successor in interest of Borrower shtalf not operate to release the liability of the nri iiig2. Bdea itrer or Borrower's successors in interest. Lender shall not be required to commence proceedings against any saweivar in interest or refuse to extend time for payment or otht raise modify amortization ofthe sums secured by axis Security Instrument by reason ofany demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or p r6:hide the exercise of any right or remedy. 11. Swepaors and s Bald; Joist and Sevent Liability; C 41pers. The covenants and agreements of this Security Instrument shz . Knd and! bm-efit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenam anal agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Nalr (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property wilder the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (r.) agrees that Lender and any other Borrower may agree to extend, modify, forbear ar make any accommodations with regard to the terns of this. Security Instrument or the Note without that Borrower's ccr -sent. 12. Loan Charga. If the loam sec urod by this Security Instrument is snlsject to m law which sets maximum loan charges, and that taw is unally interpreter%: sa titax tint interest or other Dam dauges collected or to be collected in connection with the IA=.. e+reamd the petntilted 4imits, then: (a) any such loan charge stall be reduced by the amount necessary to redwxdte charge to the permitted-limit; and (b) any sums already collected. from Borrower which exceeded permitted limit, + ilfbe refunded to Borratver.. Lender may choose to make this refund by reducing the principzl owed under the Notear by making a direct payiw.r t to Borrower. If a refund reduces principal, the reduction will be treaLal,n�t a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's RIghts. If enactment or exfimion of applicable laws has the elfsci of rendering any provision of the Nate or this Security Instrument ur=fcrccalvr•according to its terms, Lender, at its option, may require imintAiate payment in Bill of all sums secured by this Security Instrument and may invoke any remedies permitted by paxatgraph 19_ if Lender et<=ises this option, Lender shall take the steps specified in the second pargr. an'n of paragraph 17. 14. Notices. Any nalice to Narrower provided for in this Security Instrument shall be given bydelivering it or by mailing 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 ne tice to Lender. Any notice to Lender shall be gi ,.ea by first class mail t o Lender's addrans, stated herein or any other addrfts Lender designates by notice to Borrower. Any aatice provided for in this Security Instrument shah be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Lam, Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Properly is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable low; suinbconflict shall not affect other provisions of this Security Instrument or the Note which can be given efrect 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 ore Beneficial Interest In Borrower. If all or any pan 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 Securty-hinrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law asorthaduteorAlisSecurity Instrument. if Lender examit,es thit option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days fkam the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument,.IfBorrower faits to pay these sur„s prior to the expiration of this period, Lender may invoke any remedies permitte4 by this Security instrument without further notice or demand on Borrower. 1a. lietreerer¢el Maht. to P.elnsute. If Borrower rscets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) S days (or such other period as applicable Ithw 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 instniment. Those conditions are that Borrower: (a) pays tender 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 1 orrowei 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 right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17 is i� Pop; NJ