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1 r L 1 102915 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument. Borrower shall hay the premiums required to maintain the Insurance in effect until such time as the requirement for the insurance MrMinates in accordance with Borrower's and Lender's written agreement or applicable law. t). Iitiupti¢iiott. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Burmwer notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 4. Candeasaallim. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any pan of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In On event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrumrtsh;whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, untt..as Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amnuttt of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately onto--: 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 Properly is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor ofreis to make an award or settle a claim for damages, I kirrower fails to respont to Lender within 30 days after the date the notice is given, Leader is authorized to collect and apply the proceeds. at its option. either to restoration or repair of the Property or td The sums secured ir}y this Security Instrument, whether or not then due. Unless Lender acid Borrower otherwise 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; Forbearance By Lender Not a Waiver. Extensipn of the time for payment or modification of amortization of the sums secured by this Security instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower 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. A. ny 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. Successors and Asdgm Bound; Joint and Several !liability; C"laners. 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 terms of this Security Instrument or the Note without that R^rsaWer'o: -a-zi. 12. Loss Charges. If the loan secured by this Security Instrument is subject to a !aw which sets maximum loan charges. and that !zx is finally :nterpset tltat the interest or aDther Jim,, 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 kmit; and (b) any sutras already collected from Borrower which exceeded permitted limits wtll 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. Legation Affecting Leader's P40ts. 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 full of alf sums secured by this Security Instrument 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. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given, by delivering 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 notice to Lender. Any notice to Lender shall be given by first class mail to Lenders 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. GVeraing Law; Severability. This Secunty instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law. such conflict 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 Copy. Borrower shall be given one conformed copy of the Note and of his Security Instrument. 17. Truster of the Property or a Beneficial Interest in Borrower. If all 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 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 exer+ctses this option. Lender .shall give Borrower notice of acceleration. The notice shall provide a period ofnoe 8essthan 30days from the-date the notice is delivered or mailed within which Borrower must pay all sums secured by t his 5ecu icy Instrument. If BorrvWer falls to pay these surnS poet tc2 the expiration -if this penod. Lender may invoke any remediespermrttedby this Security.Instrumentwithout further natoceocrdemand ors 11irrower I& 80"Dwees Right to Reinstate. If Borrower -netts eec adr .conditions. &--rower stall have the right to have enforcer^.e'rit of this Security insim' ment discontinued at a y Ex ne` Pa 01` to the earlier nf; E a) 5 clays (or such other.period as app[cuttit! taw may specify for maDstatemetit) before sale of the Property pursuane ro any power of sale con?4 ;pied in fins Security Instrument; or (b) entry of a judgment enforcing this Security Instrument Those conditi.ons are fha'r Homo%, -. (a) pays Lender all sums which then would be due under this Security Instrument and the Nare had no acceleranize . occurred. (b) cures any default of any other covenants or agreements. (c) pays all expenses recurred in enforcing this Security Instrument, including. but not limited to, reasonable attgrneys' fees. and (d) takes such action as I ender may ressa►nahly require to assure that the lien of this 5ecunry Instrument. l.cnder's rights fit the Property and Nairrower's abligahnn to pav the sums secured by this Security liv trumer,t shall continue unchanced L'txni rcinstatement by Furrows-. this Severity Instrument and the obligations secured hereby shall remain fully of e't t!vc ns it nil act. eleiatuin h ;set .x a urrect Ift -ever. this nght to reinstate sirall not apply sit the ease (it ac 4.elctat ;:m unckr itiaragraph% I I or I 7 i .K 1 Z�a �!I i .. t'e .i •r