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r- S9-i'- 103449 If Lender required mortgage uuarance as a cez &dm of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the imun not in ediect until such time as the requitement for the insurance terminates in accordance with Borrower's sod Lamler's written agratnerit or applic" law. IL U-pi MI a Lender or its agent tray walte re tatin" entries upon and inspsctioas of the Property. Lender sMU give Borrower notice at the time ofor prior toga ingwtioaspecifjring reasonable cause for the inspection. 9. Crodeaseades. The proceeds of any award or claim for damages. director consequential. in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, we hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the pr+viceeda shall be applied to the sums secured by this Security Instrument, whether or not thm due, with any excess paid to Borrower. In the event of a partial taking of the Property, Wells Borrower sad Lender othe:rwilse agree in writing. the soma secured by this Security Instmmertt 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 &xrower. 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 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 opt", either to restoration or repair of the Property or to the sums secured by this Security Instrument. whether or cot 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. tor. Bonmm Not Rekww ; Forbenime By L eellfer Not a Wapner. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument grunted by Lender to any sucoessor in interest of Borrower shall not operate to release the liability of the original Borrower or Ilorrower's successors in interest. Lender stall not be required to commence proceedings against any successor in interact 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 its 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. 1t. Susrxrmsrs tang Aettips Bortrtill; Joint and Seural Liability; Co-eivwm The covenants and agcanents of this Security Instnaue at 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 Janata and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co- signing (hLs Security Instrument only to mortgage, grunt and convey teer bm7 wera interest in the ftWM under tfie terms du this security instrumem; (n) is not personauy 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 retard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Use Maros. 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 collected in connection with the.loatn 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 *1-11 t* refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Nokeor by retaking a direct payment to Borrower. Ua refund reduces principal. the reduction will be treated as a partial prugivyinert without any prepayment charge under thtNote. M Looklatka Affecting LeedWs Rights. If enactment or expiration of applicable laws has the effect of renderins'any provision of the Note or this Security instrument unenforceable according to its terms, Lender, at its option, .icy 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 option. Lender shall take the steps specified in. she second paragraph of parap*i.17. nor Notices. Any notice to Borrower provided for in this Security Instrumazt shall be even by delivering it or by mailing it by first class mail unless applicable law requires use of anadiex method. The notipc shall be directed to thQ Property Address or any other address Borrower designates by notice to Lender. Any noticeu'i Under shall be given by'. first cltax trail to L.endor'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 tatiave been given to Borrower or Lender when giveri its provided in this paragraph. 15. Gemming L.aw; Severabli ty. Thsx 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 Sa:urity Instrument or the. Nate emlllets with applicable lax. such c =ffict shall not affect other prov-isimrs 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. Bernmer's Copy. Borrower shell be given one conformed copy of the Note and of this Security instrument. 17. Trawhr of the Proprty or a Beaeftctal late est In Borrower. If all or any part of the Propeny or any interest in it is sold or transferred (or if 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 slate of this Security Instrument. If !.ender exercises this option, Lender shall Sine Borrower notice of ttccrleratinn. The notice shall provk-1, a peood 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 retlnedies permitted by this Security Instrument without further notice or demand on Borrower. it. Sarrewere's Rwm to ne ksme. if Borrower meets certain conditions, Borrower shall have the right to have enforcement of ihiv Security instrument drtc otttinued at any time prior to the earlier of (a) S days (or such other period as applicable law may specify for reiructatenxmt) before sale of the Property pursuant to any power of sale contained to this Smunty Instrumert. or tb) entry of a judgment enforcing this Security Instrument. Those conditions are that ilturower. fa) pays Lender all sums which then would be due under this Security Instrument and rite Note had no acceleration oc4urre3; (b) cures any default of any other cn�enants or agreements. (c) pays all expemes mc:urrest to cnfomsng thn Soximay incluuiig, but Fern iitiliftti tie, rrirxm:irlc witurrieys' fees; and its) iaitcs such actrm as I ender may resuinably require If* aeeure that the lien Pf this Security Instrument, Under'% rights to the Property and Itnrroaer's lebligtttts -n tie pay the sutn% %rcured by this Security Instrument shall continue un(banged ('pout teat wicnicnt by Bofrf4wer. Instrument ant! the 011igations secured hereby ~hall remitin tally ctfettii a as if n +r a�.cclerulton had ss.cttrted Wj*et'tr. that. tfghl It) reinstate %hall stilt apply in the cat_serifaccelerstt•m tinder paragraph~ I t ,r 17