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89--r 102393 If Lender required mortgage instrrtnac aQ 0. condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums requitnd-Elh-tna'tntain the insurance in effect .until such time as the requirement for the insurance terminates in accordance witj1. Domawees and Lender's written agreement or applicable law. 1. Inspection. Lender at itt. aCqu1 may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the timtteror prior to an inspection specifying reasonable cause for the inspection. 9. Condemandoo. 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, {be 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 Bat tower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to tender within 30 dars after the date the notice is given, Lender is authorized to collect and apply the proceeds. at its option, either to iestoraticn sr repair of the Property or to for sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing. any application of proceeds to pefr_6p a[i shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change tie amolmi of such payments. 10. Borrower Not Released; Forbearance By Lender Net a Waiver. Extension of the fime for payment or modification of amortization of the sums sm,red.lsy this Seeausity. Instrument granted by Lender.to any successor in interest of Borrower shall not operate to release the liahlity of th- a original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor im -Laterest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security .Inst.=eznt by reason of any 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 preclude the exercise of any right or remedy. 11. Suecessm and Assigns Bound; Joint mW Several Liability; Co- sigeters. The covenants and agreements of this Security Instrument slat; bind and benefit the successors and assigns of Under and Borrower. subject to the provisions of paragrap& 17. Borrower's covenants and agreements shall be ion!,t- a:° d several. Any Borrower who co -signs this Security Instrumer, : %.1 :s noes not execute the Note: (a) is co- signing this Security Instrument onlys tomortgage, grant and convey : that Borrower's interest in the Property under the terns 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 terms of this Security lnstrument or- tit. Note without that Borroweesconsent. 12. ::,a:f ;ge;. If the loaf; sutured by this Security Instrument is sub�iect to a daw which sets maximum loan - charges, and tta2 law is finally interpreted so that the. interest or other seem charges collected at to be collected in oxiv!ction with the loan exceed the permitted ti�w r,, then: (a) any such 9(;an, charge shall be reduvzd by the amount necessary to reei:ce the charge to the permitted limit; and (b) any sums alrrii collected from Borrax*r which exceeded permitted lkt�rs will be refunded to Borrower. Lender may chceGe to make this refund by reducing chi. principal owed ' under the Kda o.- by making a direct payment to Borrower. If a rerrnd reduces principal, the seduction will be treated as a partial prepayment without any prepayment charge under the Note. I& Legislation Affecting Lender's Rights.. If enactment or expimaon of applicable laser has the effect of 5 rendering any provision of the Note or this Security Er!nrument 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 by paragraph 19. If Lender exercises this cfiwion, Lender shall take the steps specif ed in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower proO.&A for in this Security Insmu rent shall be given bar delivering it or by mailing it by first class r -ft 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 deered to have been given to i9•_.rroweror Lender when given as provided in this paragraph. It Governing Law; Severability. Thus Svausity instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In tl;c event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such wnflict shall not affect 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. Borrower's Co;ty. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. [fall 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 Lend &-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 exerckmil by Lender if exercise is prohibited by 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 pity 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. 18. Borrower's Right to Reinstate. if Borrower meets certain conditions, Borrower shall hate 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 Properly pursuant to any power of sale contained in this L Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower. 7t (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no •accelerationv . occurred; (b) cures any default of any other covenants or agreements; (e) pays all expenses incurred in enforcing this r` Security instrument, including, but not limited to, reasonable attorneys' fees; and (d) lakes such action as Lender may reasonably require to assure that the lien of this Security instrument, Lenders rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by r. Borrower, this Security instrument and the obligations secured hereby shall remain fully effective as if no acceleration had _ occurred. Noaever, this right.to reinstate shall not apply in the case of acceleration under paragraphs 13 or IT F q.