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r 1 L i 90- X1o5461 If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance in ctfect until such time as the requitement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. Iagw"w. Lender or its not may snake reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the timeof or prior loan inspection specifying reasonable cause for the inspection. 9. Cadaaatation. 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 aaigned and shall he 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 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 imrnedintely 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 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 fails to respond to Lender within 30days 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 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 I and « or change the amount of such payments. 10. Borrower Not Released; Foriaruee By Leatkr Not a Waiver. Extension of the time for payment or modiiicatkm 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 successon 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 origind Borrower or Damrow es zure.; =% in inter at. Any fasb`arancc by Lcndcr in cxrrciong any right or r-alw shall not be a waiver of or preclude the exercise of any right or remedy. 11. Svecessots and Assigns Bound; Joint and Severn! Liability; Co-sigaera. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject t o t he provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who cosigns 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 Borrower's consent. 12 Lone Charges. 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 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 reduces principal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. I,KWatlom AQeeWg Leaders RiRlrts. 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 paynicat 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 spocilied to 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 Leader Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender od Snates by notice to Itk►rrower. Any notice provided for in this Security Instrument shall be deemed to have bom given to Borrower oc [.rider when given as provided in this paragraph. IS. CoverKhM Lawn Sr«efabil O-. This Security Instrument :!halt be governed by federal loon• wild the law of the jurisdiction in which the Pgreporzy is loLaued• In the tmomt that sav prmvtssm. vv, clause of this Secunsy or the Note conflicctt► %*b appliaA k►: Vaw, such a inflict stwU n.4 affect Oghtr of this Security Instrument or the Note which can be gi+vcam effect without the co<wV vting provision. To this end the Cravzston . of this Security Instrument anw4 roe Note are declVe.4 t:a be severable. 16. 801"Ww"is Copy. Borrower shall be given one conformed cop}. of the Note and of this Security Instrument. 17 :'fir rr fW 'l4. -- -•�. .. •"- �_ _n _ ld .....rw.' — .w. — ...... C .." t—.. w . . ."I^..j -' - interest in it is sold ox transf>!rred (or if a beneficial interest in Borrower is vd �••v transferred and Borrower is not a natural person) without (.vt ites prior written consent, Lender may, at stn op mm. require immediate payment in ful I of all toms secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is pralsibigei, by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall gyve Borrower notice of acceleration The wwKe shalt p tnvw e a peru►d of act less than 30 days from the date the notice is delnered or mailed within whsth Borro*cr must pay all sun% sacred by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may tn"c any i en ks permitted by this Security Instmmmt wittiout further notice ►►r demand on purrower. 18. Btarmoiar's Riot to Reinstate. If Borrower meets certain conditions. Borrower shall hasc the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) S days for such other pen►dl as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale coc.ntatned in this Secunty Insttuntrent; or (b) entry of a judgment enforcing this Security Instrument i hose condition% ore that Worrower. (a) pays Lender all sums which then would be due under this Security Instrument and the Note had rill acceleration occurred; (b) cures any default of any other covenants or agreements. (c) pays all expenses incurred its entnrctng this Security Instrument, including, but not limited to, reasonable attorneys' fay, and (d) take such action a% Lender rna) reasonably require to assure that the lien of this Security Instrument, Lender'% rights to the Property and th►rnower's obligation to pay the sums secured by this Security Instrument %hall continue unchunged lip, ►n rritmatemew h) Borrower, lhis Security Instrument and the ohliplions secured hereby %hull remain fully e8iNi rte as if no aueleration had occurred. However, this right to reinstate shall not apply to the case ofacceleration under paragraphs I lilt 17 R I