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r 90'- 1018 u If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums requircd to maintain the insurance in efmi until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. f. Impecdon, Ladder or its agent may make reasonable entries upon and inspections of the Property. Lender WWI give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Coademastloa. 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, arc hereby asiged and shall be paid to Lender. In the event of a total taking of the Prcope ty,. the procved3 shall be applied to the sums secured by this Sectaity Inarurant., whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Fropeay; twin Borrower and Lender otherwise agm in writing, the sums soured by this Security Instrument shall be rocfi wW by the amount of the proceeds nm tipbW by tee following fraction: (a) the total aswunt of, the sum secured immediately before the taking, divided by (b) able fair sowli tt value of the Property immixWd'y befeste Ow twang. Any balance shall be i paid to Borrower. If the Property is abandoned by Sommer. or if, after notice by !..ender to Bottonrmr 4hat the condemnor offers to rake an award or settle a claim for datmags,w. Borrower fails to respond to Lender within 30 days after the date the notice is Sy wn, Lender is authorized to collect ant ,4.4 Ly tfte proceeds, at its option, either to restoration or repair of the Property or .4m tim sums secured by this Security Instrumo ,whether or not then due. Unless Lender and Borrower otherwise agree stn writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments r'eforned to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Fwbsaraacs By Leader Not a Walorer. Extension 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 rrtodlfy amortisutiodt of the sums swured by this Security litatr!ftrt- t+y r #cart of any demand roadie 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. Sucersson nail Assign Boaad; Joint and Several Llabillty; Caslfprers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and acaigns 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 titter the terms of this Security Instrument; (h) is toot personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Wirrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Clauses. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or dolher loan charges collected or to he collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall he reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will 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. Legtsletioa Af'setlttg Lender's Rights. 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 all Bunts secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Wider exercises this option. Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notkes. Any notice to Borrower provided ftrr m this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another menlwil. The notice shall be directed to the Property Address or any other address Borrower designates by notice to 1.4%Wi;r Any notice to Lender %hall be given by first clan mail to Lender's address stated herein or any other addrew teudar dae.ignates by notice to Borrower. Any siolice provided for in this Security Instrument shall be deemed to have boot i,1pvt;te to Soffou er Lx- Lender when given as pr^wted in this paragraph. 15. Covetwing Law; Severab111ty. This Security Instrument shall Nrc governed by federal Lacs and the lass of the Jurisdiction in which the Property is located. In the event that any provision or clause of this Secunty Instrument of the Note conflicts with applicable law. such conflict shall not affmt other provisions of this Smunty lastrunwrit or the Note which can be given effect without the omflicting provision. To this end the provisions of the% Smuroy Instrument and the Note a am declared to be severable. IL Borrower's 4Go_v. Borrower shall he ai4e n one umformed cony of the Note_ and of the. Srwurttr leuwnv_ nt 17. Transfer of the Property or a Bendiiai Interest In Owrowrr. If all or arty part of the Property dw any Interest in it is sold or transferred (or if a beneficial inlerest in Wwrower is sold or transferred and Burrower is nut a naawal person) without Lender's prior written consent. Lender may. X its option, require immediate payment in full of all %ums secured by this Security Instrument. However. this option shalt not be exercised by lender if exercise is pruhiboted by federal law as of the date of this Security Instrument. If Lender exercises this option. Lender shall give Borrower not we ofaccekration. The notice .hall Vrov We a perked of not less than 30 days from the date the notice is delivered or nwiled v►tthia which IlornK►er rra(r%r pay oil %umv % tured hY this Security Instrument. If Borrower fails to pay these sums prwr to the expiration of this I?erir d. 1. "der may iavnke any remedies permitted by this Security Instrument without further notice or demand don Burrower It. Borrower'o Riot to Reinstate. If Borrower meets certsin conditions, Borrower %hall have the right to have clefoneetncat of this Security Instrument discontinued at any Unto prior to the earlier of (a) S days (or such tither period as applicabk law may specify for reinstatement) ber ore sale of the Property pursuant to any potter of ale contained in this Security Instrument; of (b) entry of a judgment enforcing flit% Security Instrument 1 htrc conditions are that Iforroower (a) pays Lender all sums which then would he due under this Security Instrument and the Now had no acceleration occurred; (b) cures any default of any other covenants or agreement %. 10 pay% all expense% incurred in enforcing this Security Instrument, including, but not limited to. rea%omable attorney %' fees. and (d) takes such action a% Lender may reasonably require to assure that the lien of this Security Instrument. Lender's right% rat the Protierty and Ilorruwcr'% obligation to pay the sums %cured by this Security Instrument shall continue unchanged i'lxin icomaienient hs Borrower. thi%Socurity In%trunient and the ashligations wuied hereby %hall reniam fully effecme a% if mo acccletriton huh occurred. However, this right to reinstate shall not apply in the case al' accderuiun under raragt,iph% 1 t ,a 11 7 ti r' 01