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ter. r F 89-- 144835 If bender required mortgagee 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 as the requirement for the insurance terminates in accordance with Borrower's and Lenders written agreement or applicable law. S. Iaa1 ae11 aa. Lender or its agent may make reasonable entries upon and impactions of the Property. Lender shall give Borrower notice At thedateofor prior to an insertion specifying reasonable cause for the inspection. 9. . The proceeds of any award or claim for damages° director consequential, in connection with any condemnation or outer takinge 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 Lander otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds mWdp% d by the following fraction: (a) the total amount of the sums secured immediately before the takft divided by (it) 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 matte 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 I and .2 or change the amount of such payrm"- 10 Borrower Not Released; Forbearance By Leader Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrumeni granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Bar rower 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 tight or remedy shall not be a waiver of or pterlude the exercise of any right or remedy. 11. Sucetuots and A=4w Boo md; Joint gad Sevens Liability; Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Bo mwet's Covenants and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but does not execute the Nrni-- (a) is co -Meng this Security Instrument only to mortgage, grant and convey that B urrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay Abe sums secured by this Security Instrument. and (c) 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 ounsent. 12. LAast(ClisrRea, It the loan secured by this Security Instrument is subject to a law which sets maximum loan charges., am j: dmi law is finaily interpreted so that the interest or other loan charges collected or to be collected in conneWca oir' the loan exceed the permitted limits. then: (a) any such loan charge shall be reduced by the amount necessary to redo the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted i.imitG will be refunded to Borrower. bender may choose to make this refund by reducing the principal owed under the Pint: (Kby making a direct paymimt: to Borrower. If a refund reduces principal, the reduction will be treated as a partialprepayment without any prepayment -dmrge cmd rr the Note. 13. Legislations Afl*ectiag Leader's Rigbts. 1'f enactment or expirat:ien of applicable laws has the effect of rend'enng any provision ofthe Note or this Security Indailment unenforceable =.- ording to its terms. Lender, at its opt, m- , may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. if Lender exereses this option, Lender aill take the steps specified in the second paragraph of paragraph 17. . 14. Notka. Any tt-dag to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail url�ss applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by net5m to Lender. Any notice to Lender shall be given by first class mail to Gender's address stated herein or any other address. Lender designates by notice to Borrower. Any notice prov ided for in this Sec=*ty Instrument shall be deemed eo have been given to Borrower or Lender when gi -,im as provided in itisparagraph. 15. Cgiernieg Law; Severability. This Sect'my 'instrument shall be grwemed 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 wirb ;applicable law, such cx gffj+ct shall not affect othtw provisions of this Security Instrument or the Note which can be given effect without the contik.^rnxAl provisio)t. To this mi:.• cite provisions of this Security Instrument and i he Note are declared to be severable. 1;6. Borrower's Qpy Borrower s 111 be gt,,= ruse conformeiSiri3liy of the Note and of this Security Instrument. 17. Transfer of tine Property or a Remficial interest is &ureuirer. If all or any part of the Property or any interest in it is sold or transferred (or if a beriMitiaal interest in Borrower is sold or transferred and Borrower is not a nam ral person) without Lender's prior written car, sent. 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 federx+l 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 withotit fortlter notice or demand on 1k).- rowc.. IS. Borrower's RIAt to Reinstate. If Borrower meets 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 (or such other penod as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale cosrtained in ibis Serurrty Instrument. or (b) entry of a judgment enforcing this Security Instrument "Those cundUrows are that Bormwer. (a) prays Linder all sums which then would be due under this Security Instrument and the Note had no accelerauuri occurred. (b) cures any default of any other covenants or agreements. (c) pays all expenses incurred in enforcing this Secunty Instrument. including, but not limited to, reasonable a!tomeys' fees. and (d) rakes such action as i.ender may reasonably require to assure that The lire of this Security Instrument. Lender's rights in the Property and Burraaer's obligation to pay- the sums secured by this Secunty instrument shall continue unchanged, upon reinstatement by lierrow•tr, than Security insiruntent and the obligations secured hereby Shall remain fully e(frctsve as if no actieleraiwn hail ca nursed H =Ia►ever, thtl right to reinstate shall not apply in the case at ac;el.ratum under paragraphs 13 e,r i r -7-1