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89-- 103629 rIf Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, t ; ' Borrower 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. 0. Inspection, 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. Condemnation. 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 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 Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an awsr.dor settle a claim for damages, Borrower fails 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 or not then due. Unlesi Leader and Borrower otherwise agree in writing, any application, of principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or char.Vp the amount of such payments. 10. RQmwer Not Released; Forbearance By Lender No a Waiver. Extetrvrertx -of the time for payment or modification of amortization of the sums secured 6y, this Security Instrument, gcarr.W Gay Lender to any successor in interest of Borrower shag trot operate to release the liability of the original ZaMW'Wec or &,irrower's successors in interest. Lender shall not be regt4imd to commence proceedings against any succesvr irk interest: or refuse to extend time for payment or otherwise mom. amortizattden. of the sutras secured by this Security Iristrurrrent by reason of any demand made f by the original &wovver# Borrowee"ssaccessors in interest. Anv forbearance by Lender irr. exercising any right or remedy i' shall not be awaituer of otpm -elude theexercise of arty tight or remedy. + 11. Sltovlinors MA,Assipa Bound; Joint grad' Several Liability; Cosigners. The covenants and agreements of i fts Secutity ra krument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions afiparagraph -17.' Borrower's covenants and agreements shall be Wint 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 i that Borrower's interest in the Property under the terms of this Security Instrument, (b) is not personally obligated to pay the obits i=;rzd by tear'. &- Vuittit i:ib., wroWnt; and (%j a •-w that L.iiiCr and any t tItCr � sorrwwcr mmy asmc to CXt.T.nd� modify. forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. li. Lim. Char&% —.. if the loan scciIr-_"i�i v3 this S".e ty Instrunizat is subject to a !aw which seta rraxinwrs, 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 Noteor by making a direct payment to Borrower. If wretlutd reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Notes 13. i.eaislatiom Affecting Leader's Rights. If enactment or expiration of applicable laws has the effect of cmdering any provision of the Note or this Security Instrument unenforceable according to its terms. £ender. at its option. may require immediate payment in full of all sums secured by this Security. Instrument and may iitxake any remedies permitted by paragraph 19. If Lender ciercises this option. Lender shall take the steps spvcffied in 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 Lender. Any notice to Lender shall be given by first class mail to Lender'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 car Lender when given as provided in this paragraph. 1S. Governing Lanni; Severability. This Security Instrument shall be governed by federal law and the law of the juiisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can tie given effect without tiie-c4infticting provision. To this end the provisions offitis Security Instrument and the Note are dm1ared to be severable. 16. Borrower's Copy. Bor roe' er shall be given one conformed copy of the Note and of this Security instrument. 17. Trransfer of the Properly or a Beneficial Interest to 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 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 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. 19. Borrower's Right to Reinstate. If Borrower m_ets 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 for such other period as 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 con dittons arc that Der rower � (a) pays lender all sums %htch then would he due under this Security instrument and the Note had no acceleration ckcurred, fb) cures any default of any other covenants or agreements. (c) pays all expenses mcurrcd to enforcing this Security Instrument, tncluding. but not limited it;. reasonable attorney~ fees, and (d) takes such action as 1 coder may reawnably rrclwre ;r, q=uire that tht: lien cif the; Sw:urity Imtru:...:it. l.cndcr righ :s in the Proper-. and llc•rrl +t:�r s obligation to ;Lac the sung - iccured by this Security Instrument shall continue unchanrcd trim rcutst,ateme•nt by b4)rrt.xer. this Seiurity Insrruinent and the isbligartrnris secured hereh, sh.tll reinam fulls (4com- as if no cier.,n. n had , m;mrred H. rite:er. thic right to remMatr Shall nc.t .ipplc to the caor 4•t oe. cc•)rratll •n W41 •r raraltral•hs l c 0•1 1' Awf. f' �