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_a F L 89.: w 102503 If Lender required mortgage insurance as a condition of making the than 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 agFeentetu or applicable law. g. Iaspeetioo. Lender or its agent may awake reasonaMe entries upon and 'inspection of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection`, 9. CaadenteAtioa. 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 ths.Property. the prom alt be applied to the sums secured by this Saninty Instrument, whathear or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Leader 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 beftre the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be pait t-, Borrower_ If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to male an award or settle a claim for damages, Borrower faits to respond to Lender within 30 days after the date the notice is Oera, Leader is authorized to collect and apply the proceeds,, at its option. either to restoration or repair of the Property or to rte sutras secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monWyr payments referred to in paragraphs I and 2 or change the amount of such payments. 10. Borrower Not Rei eyed; Fbebeaream By Lender Not a Waiver. Extensfam of the time for payment or modification of amortization or the sums secured by this Security Itmstrumemt granted by Lender tar. any successor in irmwe st of Borrower shall nee operate to release the liability of the original Bormwer or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument 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 shat not be a waiver of or prcdofe the exercise of any right or remedy. 11. Suecearora ant Audgns Booed; Joint aad Several Liabillty: Co- slosem The covenants and agreements of tf s Security Instrument shaUi bind and benefit the successors and assigns, of Leader and Borrower. subject to the provisions dparagraph' 17-, Borrower's covenants amd agreements shall be joint and several. Any Borrower who co-signs this Security Ucytrument but does not execute the Note: (a) is cosigning this Security Instrument only to mortgage, grant and convey t'r ^.al< Borrower's interest in tte Property under the terms of this Security. Instrument; (b) is not personally obligated to pay the rums secured by this Security Instrument; and (c) agrees that Lender and .•ray other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of tsis Security Instrument or the Note without that Borroweesconsent., IL Loan [Jaargm if the loan secured by this Security Instrument is subject to a law which sets n uixitnw -m loan charges. and that law is finally interpreted so that the interest or other Iouiz charges collected or to be. cs*nmo:d in connection with the loan exceed the permitted limits, then: (a) any such to t charge shall be reduced C; the a. mount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which ex aedead permitted limits will be refunded to Borrower. Leader may choose to make this refund by reducing the principat owed under the Note or by making a direct flay =ent to Borrower. If a refund reduces principal, dte tt duction will be treated as a partial prepayment without ary prepays rent charge under the Now 13.. Legislation Alfeetiog Leader's Riots. If enactment or expimliotin of applicable lases. Iras the effect of rendering any provision of tka Note or this Security Instrument unenforceable a.x:ording to its terms, Lm der. at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by panWaph 19. If Lender exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17. - 14. Nottiess. Any notice to Borrower provided for in this Security Instrument shall be given by deli der;m g it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall Le d •raise ? the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender slta'l be g..,x, by first class mail to Lender's address stated herein or any other adds ens Lender designates by notice to Borrower. Any notice provided 'for in slits Security instrument stall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. CrVeettrirag Law; Severahility. This Seacntity Instrument shall be governed by federal law and the law of the jurisdiction in w bch the Property is located. In the event that any provision or clause of this Security lnstrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be givens 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. Treader of the Property or s Beeeficial Intl at is Borrower. If all or any part of the Property or any interest in it is sold or transferred (o, ifa beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Leander mty. at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this optma•shall not be exercised 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 Burrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delive_=edor 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. 19, Borrower's W kt to Reriaatate. If Boffoser 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 salt of the Property pursuant to any power of sale contained in this Security Instrument-. or (b) entry of a judgment enfore mg this Security instrument. Those conditions are t hat Borrower. (a) pays Lender all sums which then would be du: under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other covertmlt 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 to the Property and Borrower's obligation to pay the sums secured by this Security instrument shall continue unchanged. t.ipon reinstatement by Borrower, this Security instrument and the obligations secured hereby shall remain fully effective as don acceleration had occurred. However. this right to reinstate shall rint apply in the caw of aw.cleration under varagiat)lts, 13 oi l ,_.. - -- �•s 1 dtiy ra .�J