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103005 �- if Lender required mortgage insurance as a condition of making the loan n secured by this Security Instrument. Borrower shaq.14U41se ptettniurns required to maintain the insurance to effect until such time as the requirement for the insurf(a9ptgswtiRsugiin lreoosdance with Borrower's and Leader's written agreement or applicable law. 8. ANNO faWOZendar or its agent may make reasonable entries upon and inspections of the Property. Lender shill 2"116tttbtrwA66w if fhb time of or prior to an inspection specifying reasonable cause for the inspection. 9• Coadeaaitdo -- 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 artd Lender 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 immediasrely before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shalt be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages. Borrower fads to respond to Lender within 30 days after the date 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 oc not then due. Unless Lender and Borrower otherwise agree in whung, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or chan$e the amount of, such payments. 10. Borrower Not Release$ Forbearaoce By Leader Not a waiver. 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 Borrover shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall "be required to commence proceedings against any successor in interest or refuse to extend time for payrmimtor Otherwise modify amortization of the stuns secured by this Security Instrument by reason of any demand made by tbe"ijl w D irroweror Borrower's successors in interest. Any forbearance by Lender to exercising any right or remedy shalt not be a waiver of or preclude the exercise of any right or remedy. M. S>vt:eesaors artd Assipq Btttrad; Joint saes Several Liability; Cosigners. The covenants and agreements of this Semhty Instrument shall bind and benefit the successors and assigns of Lender Borrower. and subject to the provisions of parnmph IT Borrower's c overtants 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 uadier 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 c4 her B-- rr+�sr ;ss— age— ;o cxicnd. - itroddy, torbeat or make any accommodations with regard to the terms of this Security Instrument or the Note without that &-crower's consent. 12. Loan Crarges. 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 other loan charges collected or to be caltceted in r :(: "— 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 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 cite Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a Partial prepaytmeirt without any prepayment charge under the Note:. 13. Iexiislatioa Affecting Leedes s Riots. 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. MY 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 opr is m •Lender shall take the steps specified in the second paragraph of paragraph 17. 16. 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 Pnrpeny Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first cuss mail to Lender's address stated herein or any other Lender address 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. I& Gwerniag Las; Seveeability, This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that airy provision or clause of this Security Instrument or the Note conflicts with applicable law. such conflict shall = affect other provisions of this Security Instrumew or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument Note are declared to be severable. and the 16. Botrrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17, Treader of the Property or a Beneficial Interest in Borrower. If all or any pan 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 its may, at 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 30 days 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 on Borrower 18. Borrower's Right to Reinstate. If Borrower mats 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 penod as L applicable law may specify for reinstatement) before sale of the Property pursuant to any power of bale contained in this Security Instrument, or (b) entry of a judgment enforcing this Security Instrument I hose conditions are that Borrower (a) pays Lender al: sums which then would be due under this Security Instrument and the Note had no acceleration occurred, (h) cures any default of any other covenants or agreements. (c) ays all ex 13 p penses incurred in enforcing this Secunty Instrument, including. but not limited to, reasonable attorneys' fee. and (d) takes %U111 actin as I.endet may f` e(' reasonably require to assure that the lien of this Security Instrument. Lender's tight% in the Property and horro%er s obligation to pay the sums secured by this Security instrument shall u,ntinue unchanged t1pm " rem%iatrnient nv Borrower. thisSeo_unty Instrument and the obligations secured hereriyshall rernam full$ effective as it n.•.i«rlrrati. n had iMLcurred lfi wever. this right to reinstate shall rnt apply in the case of aLecleratiun Z undrr rarastrarh, I t,i I-