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89-103096 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument. Borro>er 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). InsWHos. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Cadetwnation. 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 lnstrumem, 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 following fraction: (a) the total amount of the sums secured immediately before 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 offers to make an award or settle a claim for damages. Borrower faits 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 restdratien or repair of the Property or to the sums 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 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 V4atxer. Extension of the lime 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 oft,he original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any succor in interest or refuse. err extend time for payment or otherwise modify amortization of the sung secured by this Security Instrument by reason of any demand made by the origital Borrower or Borrower's successors ice interest. An forbearance by Lender in exercising any right or remedy shall not be a v►aiver of or preclude the exercise of any right or remedy. . + 11. Sweessors sell Aulps Bound; Joint aril Severd tfability; Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of L.eerder and Borrower. subject to the provisions of paragraph 17. Borrowees 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- Horro,±�er's,- inheres in the- Property under the terms of this Security Instrument: (b) isnot personally oblizated to_pay- . the sums secured by,iws 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 cr the Note without that Borrowers consent. 12. Loan Chair& 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 lean 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 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 reduco principal, tWreduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. .LeSklatkin Affecting Lender's Rights. If enacCnent or expiration of applicable laws has the effect of tertdering any provision of the Note or this Security, Instrument unenforceable according to its terms, Lender, at its option, treat' require . immediate payment in full of all sums secured by this Securit)' Instrument and may invoke any remedies permitted byparagraph 19. if Lender exercises this.option, Lender shall lapse tlte'steps specified in the:second paragraph of paragraph M 14. Notices. Any notice to Borrower provided for in this Security Instrument shill be given by delivering it or by knailing it by first class mail unless applicable law_ requires use of another method. The notice sbW1 be directed to the Properly Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by t.class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice protWded for in this Security Instrument .9D be deemed to have been given to Borrower. or Lender when given as provided in thisparagraph. 15. Governing IAw; Severability. 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 any provision or clause of this Security Instrument or the Xwe conflicts with applicable law, such conflict sIWI not affect other pretwisiens of this Security inslopment or the Note hitch can. be given effect without the conflicting provision. To this end the'provisions of this Security instrument and the .*.te are'dwEared to be severable. • 16. 'Borrowers C o oy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer 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 air 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 .c+�f not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by - fiis Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any rtmcdies permitted by this Security Instrument without further notice or demand on Borrower. Ire. Borrower's Rigbt to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enfotctment of this Security Instrument discontinued at any time prior to the earlier of (a) 5 days (or such other period as L 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 arc that Borrower. (a) pays Lender all sums which then would be clue under this Security Instrument and the Note had no acceleration occurred; (B) cures any default of any other covenants or agreements. (c) pays all expenses incurred in enforcing the% Security Instrument. indudmg. but not limited u). reasonable atinrnev% fccs. and (d) takes such action as 1 ruder may rcasonahly require to assure that the lien of this Security lnstrument. i.cnder's rights in the Properly and Bornmer's obligation Fie pay the sums ,ef urcd by this Security Insiru11►ent shall conlunue unrhunz:rct t'l ++m n11istalement by Inc- mmer,thmsccurrty Instrument and the obligatiom %ccured herch�, 01.111 ren)din fully c•1T;.t1tic a% if no.icceter.itn+n had ccc �urrcd !metier. this right to rclintatc'hali 1101 iihply it) 111c u1 +e 4.,,c defailoo nndc•r 1 "11.14tr.l1111% 11 tit i' r s 7 s; ._i..... t M