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I FM- 89- .lO3999 If Lender WgUiTed mortgage insurance as a condition of making the loan secured by this Security Instrument. W- Irrower shall pay t1h+e premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in acvrordance with Borrower's and Lender's written agreement or applicable law. 8. la spwtim Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notilm at the time of or prior loan inspection specifying reasonable cause for the inspection. 9. Clos6essoatil a,, 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 ptmceeds multiplied by the following fraction. (a) the total amount of the sums secured immediately befire the taking, divid4d 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 30 days after the date the notice is given. Leader is authorized to collect and apply the proceeds. at its option, either to restoration or repair of the Property or to the stilts ttrcured by this Security Instrument, whether or not then due. Unkas Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpohc the duce date of the monthly payments referred to in paragraphs i and 2 or change the amount of such payments. 10. Hotrmww Not Releaud; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortizatio a of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall s of operate to release the liability of the original Borrower 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 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 in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of eztt� :predTide the exercise of any right or remedy. It. SetmaiveiwdAss4iias Dow 4- Joist and Seveml Liability; Co- signers. The cav=zats.'=d, ugreements of this Security Iwurc mera shallbind and benefit the successors and assigns of Lender and Borrower, sqbject .tio the provisions of pgrmffaph 17. Borrower's, covenants and agreements shall be joint and several. Any Borrower who co-Ss g s this Security Instrument but does not exwute the Note: (a) is co- siping this Security Instrument only to mortgage, gm.t and convey that Borrower's interest in time Property under the ten r mof this Security Instrument; (b) is not personally obligated to pay tae sums-soemsv by this Security instrument; an&(ey 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. 11 L—n-a lf-1--res. it' the ban Worm by this Cecurity instnrment is sukowlt to a law which wets maximum Iran 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 resume• the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits awitl be refunded to Botr¢•vrer. Lender may choose to make this refund by reducing the principal aww: under the Note or by making a direct payment to BorTOwer. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge iii the Note. 13. Legislation AReetirt Leader's Rights. • If enactment or expiration taf applicable lives 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 payment in full of all sums secured by this Security Instrument' aatd, may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 16. Nodees. Any notice to Borrower provided tar in this Security Iristr4ment shall be given by delivering it or by mailing it by first. class mail unless applicable law requires use of'another mefhod. The notice shall be directed to the Property Address or any other address Borrower designees by notice to Lender. Any notice to Lender shall be givesi by' first class mail to Lender's address stated herein or any nth► r address Lender designates by notice to Borrower. Any notice provided for in this Security. Instrument shall be deem+ed.•io have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This 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 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 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. Borrowees Copy. Borrower shall be given one conformed copy of the Note and of this Security instrument. 17. Truster of the Property or a Beneficial Interest in Borrower. If all or any part 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 :,ender exercises this option, Lender shall give Borrow er 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. 18. Borrower's Rielat to Reinstate. If Borrower meets certain conditions. Borrower shall have the right to have enforcement of thin Security Instrument discontinued at any time pnor to the earlier of (a) S days (or such other period as applicable law may specify for reinstatement) before Sale of the Property pursuant to any power of stele tontarned In this Security Instrument, or (h) entry of a judgment enforcing this Security Instrument l hose conditions are that Ho +rrower far pays Lender all sums wtitch then would he clue under this Security Instrument and the Note had mr acrcleratuut Mcurred (b► cures any default :,f any other covenants (+r agreements. tc) pays all expenses Incurred In enG+rcmE this Security tn.tnunent. including. (hut cost itnttred to. reasonable attnrncys' ives and icy► takes su,h actnrr) as l ender rnav reavrinaMy require i +e ac.sure that the lien of this security tnstrum; nt. t (•nder's rights to the Prorwrts and lit; r. =ur is f,bll+.a11:111 to pay be sum++ h% ihr. sc unto. 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