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JM- 89"•. 103455 gg._ 102888 If Lender requimd mortgage inuuance as a condition of making the loon secured by this Security Instrument, Owl Own WWI par the Premium required so asistain the insurance is eobct until suet time as there uirettsetui far Ehe itauraaee teratiaatat in accordance with Borrtnvtst•s sand LsadWs written agnemetat or applicable law. iL lagwd tt. Lender out its agent Wray make ressonabW entries upon and inspections of the Property. Lender sMU give Borrower notice at the time ofor prior toss inspection specifying reasonable pause for the inspection. !. C086mttnadW The proceeds of any award or claim for damages. direct or consequential, in connection with any coade stnstiow or outer 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 lastrumeat, whether or not then doq with say excess paid to Borrower. In the event of a partial taking of the Property, unlas Borrower and Lender otherwise agree in writing, the sutras secured by this Security Instrument shall be reduced by The amount of the proceeds multiplied by the following fraction: (a) the total anwunt of the sums secured immediately s before the taking. divided by (b) the fair market value of the Property immediately bdbre the taking. Any balance shall be i paid to Borrower. j If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to 1 make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days aftim. the ditto the notice is given. lender is authorised to collect and apply the proceeds;, at its option, either to restoration or i nMr of the Property or to the sums secured by this Security limmment, whether or not then due. Unless Lender and Borrower otherwse 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. ' IS. Barrawar Nat iR km* Fw6swasm By LAWW Net a Waher. Extension of the time for payment or arodetlhctio n of amortitation of the sums secured by this Security Instrument granted by Lender to any successor in r intetan of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Leader shall not be roored to commence proceedings against any successor in interest or refuse to extend time for paysio►t or otherwise modify aaaortiwaion of the sums secured by this Security Instrument by reason of any demand made t by the original Borrower or Borttrter- s successors in interest. Any forbearance by L exr.+it:t in exercising any right or remedy r shall m* be a waiver of or preclude the exercise of any right or remedy. Il. SrtPr we aatl AsNps Boni;.ioiat Marl Straws! Llahflity; CX-slosera. The covenants and agreements of a this Security Instrument shall bind and beatedt .ti a successors and assigns of Lender and Borrower,, subject to the provisions ` of paragraph 17. Borrower's covenants and *Vveinents shall be joint and several. Any Borrower who co-signs this Security Imtrusoent but does not execute the Note: (a) is cosigning this Security Instrument only to mortgage, grant and convey crt_t roar ocxrvrwer s mix rear in the Property under the eertrza: � itui Security Instrument; (b) is not personally obligated to pay I the vitas secured by this Security instrument; and (c) ajraes 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 gorowee sconso -si. - - 12. Lana Cbwp& If the loan secured by this Security Instrument is subject to a law which sets maximum loan r charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in ; connection with the ken 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 oolkcted 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 prq yment charge under the Note. IX Lsgidatloa Allheft >{:eadw s !tyros. If enactment or expiration of applicable laws has the effect of rendering any provisi = of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, , may inquire imm duce payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by pan**h 19. If Leptler exercises this option. Lender shall take the steps specified in the second pateagraph of t paragraph 17. 14. Nodes. 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 Lender. Any notice to Lender shall be given by first class mail to Leender'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 to have been given to Borrower or Lender when given as provided in this pspWaph. 15. Gaivauiag Law; Seretabliity. This Security Instrument shall be governed by federal law and the law of the jurisdiction in whitelt the Property is located. In the event that any provision or clause of this Security instrument or the Next Picts 4rM- applicable law. ouch o inflict "I not affect oilier provisions o£ this Security Instrument or the Note which can be given elfivt without, the conflicting provision. To this end the provisions of this security Instrument and the Note are declared to be seversbla:;. 16. Borrower's Copy.• -Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beetkial Interest in Borrower. If all or any part: of the Property or arty 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 all sums secured by this Security Instrutent_ 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, he!! provide a penal of not teas than 30days 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 tiny remedies permitted by this Security Instrument without further notice or demand on Borrower. lg. Bsrnwth's Bight to Rerttstatt. if Borrower meets certain condition•, Wtrowcr shall have the right to have er:forcetnent of this security instrument discontinued at any time prior to the earlier of (a) 5 days (or such other perr(ni as applicable law may speedy for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (h) entry of a judgment enforcing this Security Instrument. Those conditions are that ltorrowcr j (s) pays !.ender all sum% which then would be due under this ',Security instrument and the !Vote had nu acceleration tmurred, (h) cures any default of any other cuvcnarni% or agreements. (c) pays all expensrs mcurrcd in enforcutF this �- ur y inn;rummems. Irldo ti;rg, t,ui not limited to, reasonable attorneys' fees. and (d) takes such aoitin as 1 ender niay real +m:ably tcquirc to assure that the hen of this Sft -urtty Instrument, I ender's nghts rn the Prnpert% and Ihnnwer'. rx ohlrgariora tit r.ai the %utns w.teurtt by sties Sevurily instrument %hall c,runrnue um-hanged Upr +iv r, ni +iaiermnt its K+rr'+acr. rhr '.4rcurety Iri%irurrient urn! the rihhxattimis %rcurct) hcrchy shell rcrnnrn !alts c•ffecu►e a+ if ri„ a., (+worry► had a" ` s- .urrnr fI (- *o,aer,th;%rightturrilmatelh, dinar, t apply it) thrciiw I- fussrleratif Ili ur :,ierraragrarll%It,r f'