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F 90-- 105642 rif Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, 1 Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance letminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. 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. Coademaatioo. 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 coadminition, 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 amouns 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 ofiets to make an award or 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. 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. It Dorrower Not Released; Forbearance By Leader Not to Waiver. Extension of the time 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 of the original Wwrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or utherwise aiudify amorlwatiou of the sums secured by ibis Security Instrummmt by reason of any demand made by theoriginal Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any nght or remedy shall not be a waiver ofor preclude the exercise vf-any right or remedy. 11. Successors and Asoilg s Bound; Jointt and Several Liability; Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and bH ;!rower. subject to the pr(wisions of paragraph 17. Borrower's covenants and agreements shall he joint and several. Any Okarrower 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 Borrower's interest in the Property under the terms of this Security Instrument: (h) is not personally obligated to pay i the sums secured by this Security Instrument: and (c) agrees that Lender and an) other Iorrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Secure^ Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Secunty Instrument is subject: ;r a law which Sets maximum loan charges. and that law is finally interpreted %c► that the interest or othe- lean charges collected or to he collected in connection with the loan exceed the permitted la.mifs, then. (a) any such loan charge shall he reduced by the amount necessary to reduce the charge to the permitted limit. and r(F.t' any sums already collectod from Borrower which exceeded permitted uamras will be refunded to Borrower. Lender ma}. 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 ch.,mic under the Note. 13. Wslatdou Affecting Lender's Rdgbts. If enactment of enssiration of applicable laws has the et%ct of rendering any provision %4 the Now or this Security Instrument unenforceable according to its terms. Lender, at its Option, may require immediate payment on -Full of all sums secured by this Security instruorient and may invoke any remedies permitted by paragraph 19. If Lender exercises this option. Lender shall take the steps specified in the second pacmi aph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall he giserr iT) delivering it or by mailing it by first class mail unless applicable law requires use of another method. I he notice shall be direewd io the Property Address or any other address Borrower designates by notice to Lender Any notice to Lender shah the g; yen by first class maul to Lender's address stated herein or anv Other address Lender designates by notice cq Borrower..Ar. % notice provided for in this Securaty Instrument shall he deemed to have been given to Borrower or Lender when given as pt*a►vided in this paragraph. ti. Crovervoleta�. "Tsui; r►everoMlity. 'This Sec•untn Instrument sl; :t ne governed by federal lav► and the law of thr. jurisdiction on which the Property ti, 'seated. In thee, cut th;.u., my provision or claw 2' this Security InscrunTivvia- or the Note conflicts with applicable laps. ,,wh conflict shall not aitf&z other provisions of chrct Security Instrument ,,,,r ilie Note which can be given ehTeet without the conflichng provision. To this end the provmons of this Security Instrument and the Note are declared to be severable. 86. oilrivw s i vpY. nvrrowcr snaii 'vc given cane ccmic•rnied copy of the ivoie and of t nn Security instrument. 17. Trainder of the Property or a Beneficial Interest in Burrower. If all or any part of the Property Or tin) interest in it n sold oar transferred (or if a beneficial : nterest in Borrower is s,1ld or tramferred and Harrower is not a natural person) without Lender'% 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 hr 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. f he notice shall provide a period ofnot less than 10daysfront the date the notice is delivered or mailed within which Iorrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums pnor to the expiration of this perdo d. lender may invoke any remedies permitted by this Security Instrument without further notice or demand an Borrower. 18. Borrower's Right to Reinstate. If ilia ►rrow•er meets certain conditions. Hornmer shall have the right to have enforcement of this Security 11NMineu1, discontmuLd at any finie prior to the earlier of: (a) t days for such other period as applicable law may specify for reinstatement) lieforc sale of the Property pursuant to Sim power of sale containal in this Security lintruntent. or (h) entry of a judgment enforcing this Security Instrument 1 hose conditions are that Borrower (a) pay's Lender all sums which then would be clue under this Security Imirutncut and the Note had no acceleration incurred: (b) cures any default of any other covenants or agreements. ic) pays all expenses incurred in rnloicing this Security lnvirument. including, but not limited to. reasonable attorneys' fcts, and (it) takes such action as l ender may reaminably require to aysure that the hen of this Security Instrument. Lender's nghls tit the Pro;nrty and Horitlwer's obligation to pay the sums secured by this Security Instrument shall continue unchanged l'tom trinstatcnteni by Illorrower, ihnSecurity Instrument and the obligations secured ht•rehil +twit rcrnaul folk rile•.live as d no ac,:6.1 ailt in 11.111 (recurred. However. this nftht to reinstate shall not apply to the case of acceleration under hai.igraphs I i or 1 ti W .J