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F L i 89-- 102840 If Lender required mortgage insurance as a condition of making the loan secured by ihir. erre' rarity 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. t Q. lmspw lom. Lender or its agent may nuke reasonable entries upon and inspections of tho Property. Lender 1411 give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inap(+ction. 9. Condetonation. 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 errant 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 Mowing fraction: (a) the toW amount of the sums secured immediately before the talent& 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 i.Vtidemnor offers to make an award tvr settle a claim for damages. Borrower fails to respond to Lender within 30 days after tRrE idate the notice is given, Lender is authorized to collect and apply the proceeds. at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower oiherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change.the amount of such payments. 10. Borrower Not Released; Forbewam By Leader Not a Waiver. Extension of the Carne for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender tog any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Bort+,iwees successors in interest. Lender shall nat 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 exercisinIS any right or remedy shall not be a ii►ahvrof or V=Iude the exercise of any right or remedy. 111. Saicceom glad A iaip s Bomad; Joint and Several Liability; Co- siltaers. The covenants and agreements of this Security instrument shalt bind and benefit the successors and assigns of L.cnder and Borrower. subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Burrower who co-signs this Security instrument but does not execute the %ate: (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. modifV. foifiear At iltslse any srrnen a�tw=i�gg will; :t rLa !� t1t: t.�.:t:5 of :hiS .ca —Urit3 IT,3iiiiii=cii or t =ic ,s iGic sviiltuui that Borrower's consent. IL Loma Ctiarages. If the lnan w. ured by this Security Instrument it subiect 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 eaceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the cfwge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to &,- mower. Lender may choose to make this refund by reducing the principal owed under the Dote air by making a direct payment to Borrower. if a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment char&4 tender the Note. 13. Ledflattom Afftedag Lender's Rigrts. If enactment or expiration of applicable 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 fu[b of all sums secured by this Security Instrument and may invoke any remedies permitted bypa ngraph 19. If Lender taercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any i:ratice to Borrower provided for in this Security instrument shall be given by delivering it. or by mailing it by first class marl unless appLeable 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 green by first class marBto 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. Gqperaimg Law; Severability. '1'Itis Security Instrument shall be governed by federal law and the law of the jurisdiction in. which the Property is Coca twit In the event that any provision or clause of this Security [ nstrument ar the Note contlicts.with applicable law, swb. ea ,,��c t shall not affect other provisions of this Security Instrrment or the Note which can be given effect without the confliciirg '9r6vision. To this end the pro"'Sions of this Security, fastrulment and the Note are declared to be sesecabte. 16. Borrower's Copy. Borrower shall be green one conformed cops of the Dote and of this Security Instrument. 17. Toaster of the PtroAerty or a Beneficial Interest in Borrower. If all cr airy part of the Propcny 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 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 exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30days from the date the notice is delivered or 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 nn Borrower 18. Botrowtes R*bt to Reinstate. if Borrower meets certain conditions. Borrower shall have the right to have enforcement of this Security instrument discontinued at any time prior to the earlier of (3) 5 day-, (or such other period as applicable law 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 are that Borrower (at pays Lender all sums which then would be due under this Security Instrument and the !dote had no acceleration ,wcurred. (b) cures any default of any other covenants or agreement%. (c, pays all expen %ew incurred in enforcing this Security Instrument, including. but not limited to, reasonable attorneys' fees, and (d) takes such action ac 1 ender coati reaumably require to assure that the hen of this Security Instrument, i.ender'% rights in the Properly and florrilwer % (ifaligai:an to pay the tunic secured by thi; St -cunt. Instrument shall continue unchanged t p(in reurtitaternrni h% Borrower, this Sttunty instrument and the obligation. secured hrrehy Shall remain fully rfleciivr a, a n+ ao clmoi.m h.id ,y t urred However this nght its reinstate %hall not apply in the case (d ae(.eleratioo under paragraphs ; ,sir I . b, or t• so try