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o-9-- 104 771 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 effect until such time at.-:the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable It w. & Inspection. Lender or itb -agn may ay make reasonable entries upon and inspections of the Property. Isender shall give Borrower notice at the timeof or prior to an inspection specifying reasonable cause for the inspection. m 9. C indeaation. The proceeds of any award or claim for damn jes. 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. IV the event of a total taking of the Property, the proceeds- shailfie 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 Wore 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 datnagos, ;gorrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and applyahe 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 l and 2 or change the amount of such payments. 10. Borrower N "ot Released; Forbeariiaee- By Lender Not a Waiver. Extension of the time for payment or modification of amo rn of the sums secures:- by this Security Instrument granted by Lender to any successor in interest of Borrower shall not ope mter-o releasre ¢Fie liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to o wir-mm ;racccedings against any successor in interest or refuse to extend time for payment or otherwise modify amcmiwaca c- rhesums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrowers successor- in interest. Any forbearance by Lender in exercising any right or remedy `shall not be a waiver of or preclude the exercise efany right or remedy. 11. Successors and Assig)ts Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and-Burrower. subject to the provisions 1 of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is CO- signing this Security Instrument oala- to mortgage, grant and convey that Borrower's interest in the Property under flue - terms of this Security Instrument; (bi is cc t. pq waally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any od !r Bor ra;w .-:-may agree to extend, modify. forbear or make any accommodations with regard to the terms of this Securfey, 4astrument or the Note without that Borrowers consent. 12. Loan Charge& If the lop-a scoured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted. q,. 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 t lie 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 with-%t any prepaj-menl charge under the Note. 13. Legislation ,effecting: Il;Panrlec's_ )Rifts. if enactment or expiration of apple abji ,- laws has the effect of rendering any provision of the Nuva cr this Security Instrument unenforceable according to «s ter m- s, Lender. at its option, may require immediate payment in fall of all sums secured by this Security Instrument enil rrtsy invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in. thi: second paragraph of paragraph 17., t4.. Notices. Any notice to Borrower provided for in this Security Instrument shall be gnen by delivering it or by mailing i.t. 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 or Lender a hen 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 theconflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrowers Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Troafer 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 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 lsl. Borrower's Right to Reinstate. if Borrower meets certain condittons. Botrowcr shall have the right to have enforcement of this Security Instrument discontinued at anytime. prior to the earlier of fa) 5 days (or such other period a% applicable law may specify for reinstatement) before sale of the Property pursuant to any power of talc contained in this Security Instrument; or (b) entry of a}udgment enforcieg this Security Instrument Thow condition. are that Borrower (a) pays Lender all sum% which then would tie due under this Scvurity Instrument and the Note had rio arLcRrdam occurred; (b) cures any default of any other covenants or agreements. (r) pays all e%pemes tntcurrcd nn erirwotig this Security instrument, Including, but not limited to, reasonable attorneys' feel, and (dr take% such action :n leader may reasonably require to assure that the lieu of thin. Security instrument. tinder's rig w. tit the pt� pertr ant) Iic�nroucl'I ubhganon to pay the sums %inured by thin Security Instrument shall Lonttnue unchctnf;ed 1't�t,u. utrn%r.de ntwnt .t,y. harrower. this Security In%truntent and the obligations %ecuted hereb} shall ternato fully efla tive &- if ml act clet.rttno had occurred. However. this, fight to reinstate shall not apply u► the caseof nl"CCiCrdtrOrr under paragmph% I l i q 17