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F 89- 104981 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 as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Inspection. Lender or-its agent may make reasonable entries upon and inspections of the Property. Leader sha-111 give Borrower notice at the titre of or prior to an inspection specifyiingreason"I ecausefor the inspection. 9_03mod-e—own-dant The proceeds of any award or clael—m fi--- damages, direct or canscquer.64 in commactionwith any condemnation or other taking of any part of the.?mgperty, or for conveyance in lieu of condem*#'m, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property; - %&t::pravaet-,i- skill be 4joi4 to the Instmimat, whtther or not tb=dw. wfthMV.� a *&* to trower. in tbf.- � nroperty, "t��arnnt of the proceeds inuitip}ied �:i �follor��g fraction: (a) the total amount of the sums secured immediately befort6 the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be I podto Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make in 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 payments. 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 Instrument granted by Lender to any successor in interest of Borrower shall not 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 or preclude the exercise of any right or remedy. 11. Sweessors and Assigns Board; Joint and Several U&MIltr, Co-slpemi 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. 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 only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instniment; 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 Insu=ent or the Note wiftut that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is eject to a law which SCUE maximum loan charges, and that law is fixWly interpreted so that the interest or other k= charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge sha!) be reduced by the ar, nt necessary to reduce the charge to the peat�atted limit; and (b) amF sanis already collected fkm. Borrower which exooeded permitted limits will be refunded to Bower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to BmTower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Logislatilon Affecting laedWs Riots. If enactment or expiration of appjisable laws has the effect of rendering any provision of the Note or fts Security Instrument unenforceable according to fts tzrrns, Lender, at its option, may require immediate payment in fu(i of a sums secured by this Security Instrument =A may invoke any remedies permitted by paragraph 19. If Lender exercises this gin, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Nodcea. Any notice to Borrower pre--itt.-d for in this Security Instrument shat! be given by delivering it or by mailing it by ffmi class in" unless app,;calble law raq-sires use of another method. The ncz:ce shall be directed to the Property Address or any other address Borrower 6mpates by notice to Lender. Any notice to Leader shall be given by first elm mail to Lender's address stated herein or any other address Lender designates by notice to lkrro-wer. Any notice provided 'for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. M Gq#erains 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. BorrowerIsCopy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Traeger of tbeProperty 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, Leafier shall give Borrower notice of acceleration. 71-rd notice shall provide a period aftne less than 30 days from the date the stolioe is delivemd or m.&JNd within which Borrower must ' pay altrmms secured by ift Security Instrument. If Borrower ffils to M diet t UL-as ONX iO tha expiration of this period, Len4ir may invoke any remedksperruivied by this purity Instrument wierraut further nO'ViC&order=Td on Borrawer. 14. B m"Wa ftbt to Reflasute If Barmw= Mtew gcrt_-ia corift"ans, COMO-,rier shall have file fight to Ila' ve enforcement of this Security Instrument discontinued at any time prior to the earlitr of. (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property purs -ant to dny power of sale contained in this Security Instrument; or (0) entry of ajudgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration' occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this fight to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17 71 _J_ -